TCEYF
TC Energy Corporation operates as an energy infrastructure company in Canada, the United States, and Mexico. 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 94,171 kilometers of natural gas pipelines, which transports natural gas from supply bas… Read more
TCEYF (TCEYF) - Net Assets
Latest net assets as of December 2025: $36.90 Billion USD
Based on the latest financial reports, TCEYF (TCEYF) has net assets worth $36.90 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($118.75 Billion) and total liabilities ($81.85 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 | $36.90 Billion |
| % of Total Assets | 31.07% |
| Annual Growth Rate | 1.97% |
| 5-Year Change | 10.49% |
| 10-Year Change | N/A |
| Growth Volatility | 6.39 |
TCEYF - Net Assets Trend (2020–2025)
This chart illustrates how TCEYF's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for TCEYF (2020–2025)
The table below shows the annual net assets of TCEYF from 2020 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $36.90 Billion | -3.81% |
| 2024-09-30 | $38.36 Billion | -1.66% |
| 2023-09-30 | $39.01 Billion | +14.34% |
| 2022-09-30 | $34.12 Billion | +2.16% |
| 2021-09-30 | $33.40 Billion | -0.23% |
| 2020-09-30 | $33.47 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to TCEYF'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 210.4% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $33.22 Billion | 121.71% |
| Total Equity | $27.30 Billion | 100.00% |
TCEYF Competitors by Market Cap
The table below lists competitors of TCEYF ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Smith & Nephew plc
PINK:SNNUF
|
$12.44 Billion |
|
Verona Pharma plc
F:I9SA
|
$12.46 Billion |
|
WESCO International Inc
NYSE:WCC
|
$12.48 Billion |
|
Roku Inc
NASDAQ:ROKU
|
$12.48 Billion |
|
Allegion PLC
NYSE:ALLE
|
$12.39 Billion |
|
Inpex Corporation
PINK:IPXHF
|
$12.38 Billion |
|
Neste Oil Oyj
HE:NESTE
|
$12.38 Billion |
|
Carlyle Group Inc
NASDAQ:CG
|
$12.37 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TCEYF's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 27,592,000,000 to 27,295,000,000, a change of -297,000,000 (-1.1%).
- Net income of 3,519,000,000 contributed positively to equity growth.
- Dividend payments of 3,621,000,000 reduced retained earnings.
- Share repurchases of 250,000,000 reduced equity.
- New share issuances of 104,000,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $3.52 Billion | +12.89% |
| Dividends Paid | $3.62 Billion | -13.27% |
| Share Repurchases | $250.00 Million | -0.92% |
| Share Issuances | $104.00 Million | +0.38% |
| Other Changes | $-49.00 Million | -0.18% |
| Total Change | $- | -1.08% |
Book Value vs Market Value Analysis
This analysis compares TCEYF'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: 0.47x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.37x to 0.47x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-09-30 | $33.40 | $12.45 | x |
| 2021-09-30 | $33.92 | $12.45 | x |
| 2022-09-30 | $33.39 | $12.45 | x |
| 2023-09-30 | $28.49 | $12.45 | x |
| 2024-09-30 | $26.55 | $12.45 | x |
| 2025-09-30 | $26.22 | $12.45 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TCEYF 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): 12.89%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 23.09%
- • Asset Turnover: 0.13x
- • Equity Multiplier: 4.35x
- Recent ROE (12.89%) is above the historical average (10.43%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 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 |
| 2025 | 12.89% | 23.09% | 0.13x | 4.35x | $789.50 Million |
Industry Comparison
This section compares TCEYF'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 |
|---|---|---|---|---|
| TCEYF (TCEYF) | $36.90 Billion | 14.70% | 2.22x | $12.44 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 |