Tc Energy (TRP) Net Margin (2009 - 2026)
Tc Energy's Net Margin was 24.94% in the quarter ended Jun 30, 2026, up 2.69 percentage points from 22.25% a year earlier.
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Analysis
Tc Energy (TRP) Net Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Tc Energy's Net Margin was 21.88% through Jun 30, 2026, down 6.37 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 22.31%, down 11.05 percentage points from the prior year.
- Net Margin shows a five-year change of -11.98 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, Net Margin was 33.36% in the year ended Dec 31, 2024 (+15.61 pp), 17.75% in the year ended Dec 31, 2023 (+13.47 pp), 4.28% in the year ended Dec 31, 2022 (-9.28 pp) and 13.56% in the year ended Dec 31, 2021 (-20.73 pp).
- The figure for the quarter ended Jun 30, 2026 marks the highest quarterly Net Margin since the quarter ended Mar 31, 2025.
- Compared with a year earlier, Net Margin was higher in 1 of the last five quarters, with an average year-over-year change of -5.60 percentage points.
- The best year-over-year quarter for Net Margin over five years was the quarter ended Dec 31, 2023 (a gain of 70.35 percentage points); the worst was the quarter ended Dec 31, 2022 (a drop of 67.00 percentage points).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 104.34 Bn | 99.94 Bn | 4.84 Bn | 4.76% |
| 2 | Williams Companies | 86.72 Bn | 85.43 Bn | 2.54 Bn | 37.21% |
| 3 | Enterprise Products Partners | 79.83 Bn | 78.21 Bn | - | 10.07% |
| 4 | Kinder Morgan | 74.74 Bn | 74.44 Bn | 3.07 Bn | 19.37% |
| 5 | Energy Transfer | 69.50 Bn | 62.68 Bn | 7.40 Bn | 5.90% |
| 6 | Tc Energy | 64.11 Bn | 60.19 Bn | 2.81 Bn | 24.94% |
| 7 | Targa Resources | 62.91 Bn | 62.39 Bn | 2.14 Bn | 17.22% |
| 8 | Cheniere Energy | 59.07 Bn | 53.89 Bn | 5.29 Bn | 53.52% |
| 9 | Mplx | 58.99 Bn | 52.55 Bn | 2.91 Bn | 32.82% |
| 10 | Oneok | 58.46 Bn | 56.85 Bn | 2.81 Bn | 8.02% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 24.94% |
| Dec 31, 2025 | 23.51% |
| Sep 30, 2025 | 16.44% |
| Jun 30, 2025 | 22.25% |
| Dec 31, 2024 | 27.15% |
| Sep 30, 2024 | 35.68% |
| Jun 30, 2024 | 22.70% |
| Dec 31, 2022 | -105.39% |
| Sep 30, 2022 | 22.14% |
| Jun 30, 2022 | 24.44% |
| Mar 31, 2022 | 10.23% |
| Dec 31, 2021 | 31.19% |
| Jun 30, 2021 | 30.64% |
| Sep 30, 2020 | 28.29% |
| Dec 31, 2019 | 31.78% |
| Sep 30, 2019 | 23.59% |
| Jun 30, 2019 | 32.26% |
| Dec 31, 2018 | 27.97% |
| Sep 30, 2018 | 29.40% |
| Mar 31, 2018 | 21.44% |
API Access
Tc Energy Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=TRP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "TRP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=TRP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();