TC ENERGY CORP (TRP) Financial Statements — Income, Balance Sheet, Cash Flow

Overview Financials Chart Business Summary Filings Ownership Valuation

Financial Statements — TRP

Balance Sheet

(in billions CAD)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Cash & Equivalents	0.17	0.80	3.68	0.62	0.67	1.53	1.34
Accounts Receivable	2.79	2.61	4.21	3.62	3.09	2.16	2.42
Inventory	0.78	0.75	0.98	0.94	0.72	0.63	0.45
Total Current Assets	6.32	5.73	11.37	7.33	7.42	5.20	7.65
Property, Plant & Equipment	71.05	77.50	80.57	75.94	70.18	69.78	65.49
Goodwill	9.49	13.67	12.53	12.84	12.58	12.68	12.89
Intangible Assets	--	--	--	--	--	--	2.17
Total Non-current Assets*	112.44	112.51	113.66	107.02	96.80	95.10	91.63
Total Assets	118.75	118.24	125.03	114.35	104.22	100.30	99.28
Total Current Liabilities	9.96	10.51	11.82	16.91	13.04	11.99	12.90
Long-term Debt	--	2.80	2.00	1.60	--	--	0.20
Total Non-current Liabilities*	71.89	69.37	74.21	63.33	57.78	54.84	53.98
Total Liabilities	81.85	79.88	86.03	80.23	70.82	66.83	66.88
Retained Earnings	(5.92)	(5.24)	(3.00)	0.82	3.77	5.37	3.96
Total Stockholder Equity	27.30	27.59	29.55	33.99	33.27	31.40	30.76

* Derived from reported values

Income Statement

(in billions CAD) (except per-share rows)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Total Revenue	15.24	13.06	14.63	14.11	12.95	12.65	12.67
Cost of Revenue*	0.21	0.22	0.52	0.53	0.09	(0.35)	0.37
Gross Profit*	15.03	13.55	15.42	14.44	12.87	13.00	12.89
Total Operating Expenses*	7.00	5.59	9.28	10.81	8.81	6.23	6.30
Operating Income	8.04	7.96	6.14	3.63	4.06	6.77	6.59
Interest Expense	--	--	3.26	2.59	2.36	2.23	2.33
Pretax Income	5.44	5.91	4.01	1.37	2.17	5.11	5.19
Tax Provision	1.14	0.92	0.94	0.59	0.12	0.19	0.75
Net Income	3.52	4.70	2.92	0.75	1.96	4.62	4.14
Basic EPS	3.27	4.43	2.75	0.64	1.87	4.74	4.28
Diluted EPS	3.27	4.43	2.75	0.64	1.86	4.74	4.27

* Derived from reported values

Cash Flow Statement

(in billions CAD)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Operating Cash Flow	7.35	7.70	7.27	6.38	6.89	7.06	7.08
Capital Expenditures	5.27	7.90	12.30	8.96	7.13	8.90	7.48
Free Cash Flow*	2.08	(0.21)	(5.03)	(2.59)	(0.24)	(1.84)	(0.39)
Investing Cash Flow	(6.46)	(6.91)	(12.29)	(7.01)	(7.71)	(6.05)	(6.87)
Financing Cash Flow	(1.52)	(3.87)	8.09	0.49	(0.09)	(0.80)	0.69

* Derived from reported values

Dividends Per Share

(USD)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Dividends Per Share	3.40	3.70	3.72	3.60	3.48	3.24	3.00