Tc Energy (TRPRF) Operating Expenses (2009 - 2025)
Tc Energy (TRPRF) posted Operating Expenses of $915.0 million for Q4 2025, up 9.4% on a QoQ basis from $836.4 million in Q3 2025, and up 6.43% year-on-year from $859.7 million in Q4 2024.
Tc Energy (TRPRF) Operating Expenses (2009 - 2025) Analysis & Trends
Tc Energy has disclosed Operating Expenses across 17 years of filings, most recently posting $915.0 million for Q4 2025.
- Operating Expenses for Q4 2025 came in at $915.0 million, up 6.43% year-over-year; the trailing twelve-month figure through Dec 2025 was $3.3 billion (up 2.69% YoY), and the FY2025 annual result was $3.3 billion, up 2.56% from the prior year.
- Operating Expenses came in at $915.0 million for Q4 2025 at Tc Energy, up from $836.4 million in the prior quarter.
- Over the last five years, Operating Expenses for TRPRF reached as high as $1.0 billion in Q4 2022 and fell as low as -$868.7 million in Q4 2021.
- Median Operating Expenses over the past 5 years was $825.1 million (2023), compared with a mean of $764.7 million.
- Year-over-year, Operating Expenses slumped 207.96% in 2021 and jumped 219.66% in 2022.
- Over 5 years, Operating Expenses stood at -$868.7 million in 2021, then jumped by 219.66% to $1.0 billion in 2022, then decreased by 21.71% to $813.9 million in 2023, then increased by 5.64% to $859.7 million in 2024, then advanced by 6.43% to $915.0 million in 2025.
- Per Business Quant, the three latest TRPRF Operating Expenses figures stand at $915.0 million (Q4 2025), $836.4 million (Q3 2025), and $853.1 million (Q2 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 13.95 Bn |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 3.38 Bn |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 12.50 Bn |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 1.70 Bn |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 333.70 Mn |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 1.82 Bn |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 7.00 Mn |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 274.00 Mn |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 3.45 Bn |
| 10 | Tc Energy | - | - | 2.95 Bn | 915.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 915.00 Mn |
| Sep 30, 2025 | 836.36 Mn |
| Jun 30, 2025 | 853.06 Mn |
| Mar 31, 2025 | 703.89 Mn |
| Dec 31, 2024 | 859.73 Mn |
| Sep 30, 2024 | 812.96 Mn |
| Jun 30, 2024 | 789.63 Mn |
| Mar 31, 2024 | 759.18 Mn |
| Dec 31, 2023 | 813.87 Mn |
| Sep 30, 2023 | 948.08 Mn |
| Jun 30, 2023 | 905.25 Mn |
| Mar 31, 2023 | 781.86 Mn |
| Dec 31, 2022 | 1.04 Bn |
| Sep 30, 2022 | 1.03 Bn |
| Jun 30, 2022 | 920.03 Mn |
| Mar 31, 2022 | 794.21 Mn |
| Dec 31, 2021 | -868.70 Mn |
| Sep 30, 2021 | 921.51 Mn |
| Jun 30, 2021 | 780.17 Mn |
| Mar 31, 2021 | 700.03 Mn |