TC Energy Corp
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through four segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,700 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distributio… Read more
TC Energy Corp (TRP) - Net Assets
Latest net assets as of September 2025: $37.58 Billion USD
Based on the latest financial reports, TC Energy Corp (TRP) has net assets worth $37.58 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($120.23 Billion) and total liabilities ($82.66 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $37.58 Billion |
| % of Total Assets | 31.25% |
| Annual Growth Rate | 7.62% |
| 5-Year Change | 14.6% |
| 10-Year Change | 111.29% |
| Growth Volatility | 12.86 |
TC Energy Corp - Net Assets Trend (2000–2024)
This chart illustrates how TC Energy Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TC Energy Corp (2000–2024)
The table below shows the annual net assets of TC Energy Corp from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $38.36 Billion | -1.66% |
| 2023-12-31 | $39.01 Billion | +14.34% |
| 2022-12-31 | $34.12 Billion | +2.16% |
| 2021-12-31 | $33.40 Billion | -0.23% |
| 2020-12-31 | $33.47 Billion | +3.32% |
| 2019-12-31 | $32.40 Billion | +4.53% |
| 2018-12-31 | $30.99 Billion | +15.25% |
| 2017-12-31 | $26.89 Billion | +3.49% |
| 2016-12-31 | $25.98 Billion | +43.12% |
| 2015-12-31 | $18.16 Billion | -12.10% |
| 2014-12-31 | $20.65 Billion | +2.57% |
| 2013-12-31 | $20.14 Billion | +9.82% |
| 2012-12-31 | $18.34 Billion | +0.42% |
| 2011-12-31 | $18.26 Billion | +2.10% |
| 2010-12-31 | $17.88 Billion | +5.62% |
| 2009-12-31 | $16.93 Billion | +20.16% |
| 2008-12-31 | $14.09 Billion | +35.56% |
| 2007-12-31 | $10.40 Billion | +28.86% |
| 2006-12-31 | $8.07 Billion | +6.15% |
| 2005-12-31 | $7.60 Billion | +14.45% |
| 2004-12-31 | $6.64 Billion | +10.38% |
| 2003-12-31 | $6.02 Billion | -11.66% |
| 2002-12-31 | $6.81 Billion | +2.76% |
| 2001-12-31 | $6.63 Billion | +0.56% |
| 2000-12-31 | $6.59 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to TC Energy Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 1365.9% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $30.10 Billion | 109.09% |
| Other Comprehensive Income | $233.00 Million | 0.84% |
| Other Components | $2.50 Billion | 9.06% |
| Total Equity | $27.59 Billion | 100.00% |
TC Energy Corp Competitors by Market Cap
The table below lists competitors of TC Energy Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
DoorDash, Inc. Class A Common Stock
NASDAQ:DASH
|
$63.10 Billion |
|
Intel Corp. CEDEAR
BA:INTC
|
$63.23 Billion |
|
CSL Limited
PINK:CMXHF
|
$63.46 Billion |
|
Elevance Health Inc
NYSE:ELV
|
$63.54 Billion |
|
Sempra
LSE:0L5A
|
$62.72 Billion |
|
Tokio Marine Holdings Inc
PINK:TKOMY
|
$62.70 Billion |
|
Cencora Inc.
NYSE:COR
|
$62.31 Billion |
|
Air Products and Chemicals Inc
NYSE:APD
|
$62.29 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TC Energy Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 29,553,000,000 to 27,592,000,000, a change of -1,961,000,000 (-6.6%).
- Net income of 4,698,000,000 contributed positively to equity growth.
- Dividend payments of 4,052,000,000 reduced retained earnings.
- Share repurchases of 88,000,000 reduced equity.
- New share issuances of 88,000,000 increased equity.
- Other comprehensive income increased equity by 184,000,000.
- Other factors decreased equity by 2,791,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $4.70 Billion | +17.03% |
| Dividends Paid | $4.05 Billion | -14.69% |
| Share Repurchases | $88.00 Million | -0.32% |
| Share Issuances | $88.00 Million | +0.32% |
| Other Comprehensive Income | $184.00 Million | +0.67% |
| Other Changes | $-2.79 Billion | -10.12% |
| Total Change | $- | -6.64% |
Book Value vs Market Value Analysis
This analysis compares TC Energy Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.41x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.61x to 2.41x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2000-12-31 | $13.86 | $63.95 | x |
| 2001-12-31 | $13.60 | $63.95 | x |
| 2002-12-31 | $14.15 | $63.95 | x |
| 2003-12-31 | $12.59 | $63.95 | x |
| 2004-12-31 | $13.49 | $63.95 | x |
| 2005-12-31 | $14.72 | $63.95 | x |
| 2006-12-31 | $18.51 | $63.95 | x |
| 2007-12-31 | $22.29 | $63.95 | x |
| 2008-12-31 | $22.57 | $63.95 | x |
| 2009-12-31 | $24.13 | $63.95 | x |
| 2010-12-31 | $24.17 | $63.95 | x |
| 2011-12-31 | $24.64 | $63.95 | x |
| 2012-12-31 | $23.96 | $63.95 | x |
| 2013-12-31 | $26.17 | $63.95 | x |
| 2014-12-31 | $26.86 | $63.95 | x |
| 2015-12-31 | $23.18 | $63.95 | x |
| 2016-12-31 | $31.92 | $63.95 | x |
| 2017-12-31 | $28.65 | $63.95 | x |
| 2018-12-31 | $32.49 | $63.95 | x |
| 2019-12-31 | $33.04 | $63.95 | x |
| 2020-12-31 | $33.40 | $63.95 | x |
| 2021-12-31 | $34.16 | $63.95 | x |
| 2022-12-31 | $34.13 | $63.95 | x |
| 2023-12-31 | $28.69 | $63.95 | x |
| 2024-12-31 | $26.58 | $63.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TC Energy Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 17.03%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 34.12%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 4.29x
- Recent ROE (17.03%) is above the historical average (9.98%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 11.99% | 3.73% | 0.83x | 3.88x | $131.20 Million |
| 2001 | 10.57% | 13.07% | 0.26x | 3.09x | $36.70 Million |
| 2002 | 11.81% | 15.42% | 0.26x | 2.92x | $123.22 Million |
| 2003 | 13.98% | 15.89% | 0.26x | 3.37x | $242.43 Million |
| 2004 | 15.72% | 20.21% | 0.23x | 3.37x | $375.45 Million |
| 2005 | 16.79% | 19.75% | 0.25x | 3.35x | $488.89 Million |
| 2006 | 11.89% | 14.35% | 0.29x | 2.85x | $171.25 Million |
| 2007 | 10.30% | 13.85% | 0.29x | 2.55x | $35.80 Million |
| 2008 | 11.16% | 16.71% | 0.22x | 3.06x | $150.20 Million |
| 2009 | 8.76% | 15.39% | 0.20x | 2.78x | $-195.90 Million |
| 2010 | 7.64% | 18.65% | 0.15x | 2.79x | $-394.70 Million |
| 2011 | 9.13% | 20.17% | 0.17x | 2.73x | $-151.40 Million |
| 2012 | 8.01% | 16.91% | 0.17x | 2.86x | $-337.10 Million |
| 2013 | 9.64% | 20.30% | 0.16x | 2.91x | $-66.50 Million |
| 2014 | 9.65% | 18.07% | 0.17x | 3.07x | $-67.00 Million |
| 2015 | -6.97% | -10.14% | 0.18x | 3.92x | $-2.79 Billion |
| 2016 | 0.96% | 1.86% | 0.14x | 3.63x | $-2.19 Billion |
| 2017 | 12.61% | 23.47% | 0.16x | 3.44x | $653.10 Million |
| 2018 | 12.62% | 27.06% | 0.14x | 3.37x | $768.20 Million |
| 2019 | 13.46% | 31.23% | 0.13x | 3.23x | $1.06 Billion |
| 2020 | 14.70% | 35.51% | 0.13x | 3.19x | $1.48 Billion |
| 2021 | 5.88% | 14.60% | 0.13x | 3.13x | $-1.37 Billion |
| 2022 | 2.20% | 6.08% | 0.11x | 3.36x | $-2.65 Billion |
| 2023 | 9.89% | 22.02% | 0.11x | 4.23x | $-33.30 Million |
| 2024 | 17.03% | 34.12% | 0.12x | 4.29x | $1.94 Billion |
Industry Comparison
This section compares TC Energy Corp's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $1,230,397,219
- Average return on equity (ROE) among peers: 2202.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TC Energy Corp (TRP) | $37.58 Billion | 11.99% | 2.20x | $62.83 Billion |
| Antero Midstream Partners LP (AM) | $142.86 Million | 0.00% | 0.21x | $7.58 Billion |
| AltaGas Ltd (ATGFF) | $2.83 Billion | 7.11% | 1.57x | $8.06 Billion |
| ATGPF (ATGPF) | $7.86 Billion | 8.56% | 1.98x | $4.11 Billion |
| Avance Gas Holding Ltd (AVACF) | $603.79 Million | 27.09% | 0.91x | $7.70K |
| CBL International Limited Ordinary Shares (BANL) | $12.11 Million | 30.42% | 1.11x | $3.17 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $863.00K | 22418.66% | 0.16x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $78.49 Million | 16.31% | 4.83x | $32.39 Million |
| Brooge Energy Limited (BROGW) | $56.77 Million | -85.14% | 7.56x | $5.67K |
| Willow Biosciences Inc (CANSF) | $1.10 Million | -405.25% | 0.17x | $2.85 Million |
| Cool Company Ltd (CLCO) | $715.51 Million | 11.75% | 1.88x | $145.96 Million |