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TC Energy Valuation Multiples
Discover revenue and EBITDA valuation multiples for TC Energy and similar public comparables like Sempra, Energy Transfer, Imperial Oil, Baker Hughes and more.
TC Energy Overview
About TC Energy
TC Energy operates natural gas transmission assets across North America. Segments are determined by country of operation, but both Canadian and US operations are interconnected. Mexican operations are disconnected from the US and only have one customer, the state utility CFE. They also operate power generation assets, with the largest being the Bruce Power nuclear plant.
Founded
2003
HQ
Employees
6.6K
Website
Financials (LTM)
EV
$108B
TC Energy Financials
TC Energy reported last 12-month revenue of $11B and EBITDA of $8B.
In the same LTM period, TC Energy generated $8B in EBITDA and $3B in net income.
Revenue (LTM)
TC Energy P&L
In the most recent fiscal year, TC Energy reported revenue of $11B and EBITDA of $8B.
TC Energy expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $11B | XXX | $11B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $6B | XXX | XXX | XXX |
| Gross Margin | — | XXX | 50% | XXX | XXX | XXX |
| EBITDA | $8B | XXX | $8B | XXX | XXX | XXX |
| EBITDA Margin | 72% | XXX | 72% | XXX | XXX | XXX |
| EBIT Margin | 54% | XXX | 53% | XXX | XXX | XXX |
| Net Profit | $3B | XXX | $3B | XXX | XXX | XXX |
| Net Margin | 24% | XXX | 24% | XXX | XXX | XXX |
| Net Debt | — | — | $44B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
TC Energy Stock Performance
TC Energy has current market cap of $63B, and enterprise value of $108B.
Market Cap Evolution
TC Energy's stock price is $60.28.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $108B | $63B | -0.8% | XXX | XXX | XXX | $2.57 |
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Start Free TrialTC Energy Valuation Multiples
TC Energy trades at 9.5x EV/Revenue multiple, and 13.2x EV/EBITDA.
EV / Revenue (LTM)
TC Energy Financial Valuation Multiples
As of April 17, 2026, TC Energy has market cap of $63B and EV of $108B.
Equity research analysts estimate TC Energy's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
TC Energy has a P/E ratio of 22.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $63B | XXX | $63B | XXX | XXX | XXX |
| EV (current) | $108B | XXX | $108B | XXX | XXX | XXX |
| EV/Revenue | 9.5x | XXX | 9.7x | XXX | XXX | XXX |
| EV/EBITDA | 13.2x | XXX | 13.4x | XXX | XXX | XXX |
| EV/EBIT | 17.7x | XXX | 18.2x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 19.5x | XXX | XXX | XXX |
| P/E | 22.6x | XXX | 23.4x | XXX | XXX | XXX |
| EV/FCF | 70.3x | XXX | 72.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified TC Energy Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
TC Energy Margins & Growth Rates
TC Energy's revenue in the last 12 month grew by 5%.
TC Energy's revenue per employee in the last FY averaged $1.7M, while opex per employee averaged $0.1M for the same period.
TC Energy's rule of 40 is 79% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
TC Energy's rule of X is 89% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
TC Energy Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | 6% | XXX | XXX | XXX |
| EBITDA Margin | 72% | XXX | 72% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | 6% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 79% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 89% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.7M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 6% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
TC Energy Public Comps
See public comps and valuation multiples for other Energy Services and Oil & Gas comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| TC Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Sempra | XXX | XXX | XXX | XXX | XXX | XXX |
| Energy Transfer | XXX | XXX | XXX | XXX | XXX | XXX |
| Imperial Oil | XXX | XXX | XXX | XXX | XXX | XXX |
| Baker Hughes | XXX | XXX | XXX | XXX | XXX | XXX |
| Phillips 66 | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
TC Energy M&A Activity
TC Energy acquired XXX companies to date.
Last acquisition by TC Energy was on XXXXXXXX, XXXXX. TC Energy acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by TC Energy
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialTC Energy Investment Activity
TC Energy invested in XXX companies to date.
TC Energy made its latest investment on XXXXXXXX, XXXXX. TC Energy invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by TC Energy
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout 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 over 6K employees. |
| Who is the CEO of TC Energy? | TC Energy's CEO is Francois L. Poirier. |
| Is TC Energy publicly listed? | Yes, TC Energy is a public company listed on Tokyo Stock Exchange. |
| 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? | TC Energy main competitors are Sempra, Energy Transfer, Imperial Oil, Baker Hughes. |
| What is the current market cap of TC Energy? | TC Energy's current market cap is $63B. |
| What is the current revenue of TC Energy? | TC Energy's last 12 months revenue is $11B. |
| What is the current revenue growth of TC Energy? | TC Energy revenue growth (NTM/LTM) is 5%. |
| What is the current EV/Revenue multiple of TC Energy? | Current revenue multiple of TC Energy is 9.5x. |
| Is TC Energy profitable? | Yes, TC Energy is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of TC Energy? | TC Energy's last 12 months EBITDA is $8B. |
| What is TC Energy's EBITDA margin? | TC Energy's last 12 months EBITDA margin is 72%. |
| What is the current EV/EBITDA multiple of TC Energy? | Current EBITDA multiple of TC Energy is 13.2x. |
| What is the current FCF of TC Energy? | TC Energy's last 12 months FCF is $2B. |
| What is TC Energy's FCF margin? | TC Energy's last 12 months FCF margin is 14%. |
| What is the current EV/FCF multiple of TC Energy? | Current FCF multiple of TC Energy is 70.3x. |
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