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TC Energy Valuation Multiples

Discover revenue and EBITDA valuation multiples for TC Energy and similar public comparables like Fastned, NMDC Energy, and Fugro.

TC Energy Overview

About TC Energy

TC Energy operates natural gas, oil, and power generation assets in Canada and the United States. The firm operates more than 60,000 miles of oil and gas pipelines, more than 650 billion cubic feet of natural gas storage, and about 4,300 megawatts of electric power.


Founded

2003

HQ

Canada
Employees

6.7K+

Website

tcenergy.com

Financials

LTM Revenue $11.0B

LTM EBITDA $7.8B

EV

$91.5B

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TC Energy Financials

TC Energy has a last 12-month revenue of $11.0B and a last 12-month EBITDA of $7.8B.

In the most recent fiscal year, TC Energy achieved revenue of $9.6B and an EBITDA of $7.8B.

TC Energy expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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TC Energy P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $11.1B $9.6B XXX XXX XXX
Gross Profit $4.8B $5.4B XXX XXX XXX
Gross Margin 43% 56% XXX XXX XXX
EBITDA $6.6B $7.8B XXX XXX XXX
EBITDA Margin 59% 81% XXX XXX XXX
Net Profit $523M $2.0B XXX XXX XXX
Net Margin 5% 21% XXX XXX XXX
Net Debt $40.3B $41.6B XXX XXX XXX

Financial data powered by Morningstar, Inc.

TC Energy Stock Performance

As of April 15, 2025, TC Energy's stock price is CAD 67 (or $47).

TC Energy has current market cap of CAD 69.2B (or $48.4B), and EV of CAD 131B (or $91.5B).

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TC Energy Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$91.5B $48.4B XXX XXX XXX XXX $2.90

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TC Energy Valuation Multiples

As of April 15, 2025, TC Energy has market cap of $48.4B and EV of $91.5B.

TC Energy's trades at 8.3x LTM EV/Revenue multiple, and 11.7x LTM EBITDA.

Analysts estimate TC Energy's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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TC Energy Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $91.5B XXX XXX XXX
EV/Revenue 9.5x XXX XXX XXX
EV/EBITDA 11.7x XXX XXX XXX
P/E 14.7x XXX XXX XXX
P/E/Growth -5.3x XXX XXX XXX
EV/FCF 97.7x XXX XXX XXX

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TC Energy Valuation Multiples

TC Energy's NTM/LTM revenue growth is -3%

TC Energy's revenue per employee for the last fiscal year averaged $1.4M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, TC Energy's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate TC Energy's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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TC Energy Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -14% XXX XXX XXX XXX
EBITDA Margin 81% XXX XXX XXX XXX
EBITDA Growth 20% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 79% XXX XXX XXX XXX
Revenue per Employee $1.4M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 6% XXX XXX XXX XXX

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TC Energy Public Comps

See public comps and valuation multiples for Energy Services and Fossil Fuels comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC XXX XXX XXX XXX XXX XXX
NMDC Energy XXX XXX XXX XXX XXX XXX
Fastned XXX XXX XXX XXX XXX XXX
Fugro XXX XXX XXX XXX XXX XXX
Royal Vopak XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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TC Energy M&A and Investment Activity

TC Energy acquired  XXX companies to date.

Last acquisition by TC Energy was  XXXXXXXX, XXXXX XXXXX XXXXXX . TC Energy acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by TC Energy

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About TC Energy

When was TC Energy founded? TC Energy was founded in 2003.
Where is TC Energy headquartered? TC Energy is headquartered in Canada.
How many employees does TC Energy have? As of today, TC Energy has 6.7K+ employees.
Who is the CEO of TC Energy? TC Energy's CEO is Mr. Francois L. Poirier.
Is TC Energy publicy listed? Yes, TC Energy is a public company listed on TSE.
What is the stock symbol of TC Energy? TC Energy trades under TRP ticker.
When did TC Energy go public? TC Energy went public in 2003.
Who are competitors of TC Energy? Similar companies to TC Energy include e.g. ADNOC, NMDC Energy, Fastned, Fugro.
What is the current market cap of TC Energy? TC Energy's current market cap is $48.4B
What is the current revenue of TC Energy? TC Energy's last 12-month revenue is $11.0B.
What is the current EBITDA of TC Energy? TC Energy's last 12-month EBITDA is $7.8B.
What is the current EV/Revenue multiple of TC Energy? Current revenue multiple of TC Energy is 8.3x.
What is the current EV/EBITDA multiple of TC Energy? Current EBITDA multiple of TC Energy is 11.7x.
What is the current revenue growth of TC Energy? TC Energy revenue growth between 2023 and 2024 was -14%.
Is TC Energy profitable? Yes, TC Energy is EBITDA-positive (as of the last 12 months).

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