Tc Energy (TRP) Operating Margin (2009 - 2026)
Tc Energy (TRP) reported Operating Margin of 135.28% for the quarter ended Jun 30, 2026, down 2.11 percentage points from 137.39% a year earlier.
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Analysis
Tc Energy (TRP) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Tc Energy's Operating Margin came in at 136.36%, up 29.37 percentage points year-over-year; for the year ended Dec 31, 2025, it was 136.09%, up 95.65 percentage points from the prior year.
- Operating Margin has a five-year change of +91.44 percentage points (years ended Dec 2020 to Dec 2025).
- By year, Operating Margin came in at 40.44% in the year ended Dec 31, 2024 (-12.74 pp), 53.18% in the year ended Dec 31, 2023 (+5.48 pp), 47.71% in the year ended Dec 31, 2022 (+24.97 pp) and 22.74% in the year ended Dec 31, 2021 (-21.91 pp).
- The figure for the quarter ended Jun 30, 2026 ranks as the lowest quarterly Operating Margin since the quarter ended Mar 31, 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 104.21 Bn | 99.81 Bn | 4.84 Bn | 9.93% |
| 2 | Williams Companies | 86.44 Bn | 85.15 Bn | 2.54 Bn | 38.72% |
| 3 | Enterprise Products Partners | 79.86 Bn | 78.25 Bn | - | 12.31% |
| 4 | Kinder Morgan | 74.63 Bn | 74.33 Bn | 3.07 Bn | 30.06% |
| 5 | Energy Transfer | 69.55 Bn | 62.73 Bn | 7.40 Bn | 10.41% |
| 6 | Tc Energy | 64.20 Bn | 60.28 Bn | 2.81 Bn | 135.28% |
| 7 | Targa Resources | 62.90 Bn | 62.38 Bn | 2.14 Bn | 27.80% |
| 8 | Cheniere Energy | 59.18 Bn | 54.01 Bn | 5.29 Bn | 74.84% |
| 9 | Mplx | 58.85 Bn | 52.42 Bn | 2.91 Bn | 41.61% |
| 10 | Oneok | 58.54 Bn | 56.93 Bn | 2.81 Bn | 13.22% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 135.28% |
| Dec 31, 2025 | 135.99% |
| Sep 30, 2025 | 136.88% |
| Jun 30, 2025 | 137.39% |
| Dec 31, 2024 | 139.36% |
| Dec 31, 2021 | 95.42% |
| Jun 30, 2016 | 86.15% |
| Mar 31, 2016 | 11.38% |
| Sep 30, 2010 | 32.17% |
| Jun 30, 2010 | 31.31% |
| Mar 31, 2010 | 31.15% |
| Dec 31, 2009 | 155.09% |
| Sep 30, 2009 | 29.52% |
| Jun 30, 2009 | 33.52% |
| Mar 31, 2009 | 35.43% |
API Access
Tc Energy Operating 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=operating-margin&ticker=TRP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=TRP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();