TC Energy (TRP) revenue breakdown
By segment, U.S. Natural Gas Pipelines is the largest at 47% of fiscal 2025 revenue; Mexico Natural Gas Pipelines grew fastest, 16% a year over 9 years.
By product, Capacity arrangements and transportation is the largest at 87% of fiscal 2024 revenue; Natural gas storage and other grew fastest, 11% a year over 6 years.
Revenue by segment
Fiscal years, as TC Energy reports them in its 10-K filings; fiscal 2025 total $15.2B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. Natural Gas Pipelines | $2.5B | $3.6B | $4.3B | $5.0B | $5.0B | $5.2B | $5.9B | $6.2B | $6.3B | $7.1B | 47% |
| Canadian Natural Gas Pipelines | $3.7B | $3.7B | $4.0B | $4.0B | $4.5B | $4.5B | $4.8B | $5.2B | $5.6B | $5.8B | 38% |
| Mexico Natural Gas Pipelines | $378M | $570M | $619M | $603M | $716M | $605M | $688M | $846M | $870M | $1.4B | 10% |
| Power and Energy Solutions | $4.2B | $3.6B | $2.1B | $785M | $412M | $724M | $924M | $1.0B | $954M | $845M | 6% |
| Corporate | — | — | — | — | — | — | — | — | $8M | $14M | 0% |
| Liquids Pipelines | $1.8B | $2.0B | $2.6B | $2.9B | $2.4B | $2.3B | — | — | — | — | — |
Revenue by product
Fiscal years, as TC Energy reports them in its 10-K filings; fiscal 2024 total $13.1B.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Share |
|---|---|---|---|---|---|---|---|---|
| Capacity arrangements and transportation | $10.3B | $11.3B | $11.5B | $11.2B | $9.8B | $10.7B | $11.4B | 87% |
| Natural gas storage and other | $743M | $729M | $933M | $1.5B | $1.8B | $1.4B | $1.4B | 11% |
| Power generation | $1.8B | $662M | $192M | $324M | $490M | $427M | $266M | 2% |
Revenue by region
Fiscal years, as TC Energy reports them in its 10-K filings; fiscal 2025 total $15.2B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $7.3B | $8.0B | $7.8B | $7.6B | $6.8B | $7.0B | $5.9B | $6.3B | $6.4B | $7.2B | 47% |
| Canada – domestic | $3.7B | $3.6B | $4.2B | $4.1B | $4.4B | $4.6B | $4.9B | $5.3B | $5.6B | $5.6B | 37% |
| Mexico | $378M | $570M | $619M | $603M | $716M | $605M | $688M | $846M | $870M | $1.4B | 10% |
| Canada – export | $1.2B | $1.3B | $1.1B | $1.0B | $1.1B | $1.2B | $765M | $821M | $953M | $968M | 6% |
Questions
Where does TC Energy make its money?
In fiscal 2025, by segment: U.S. Natural Gas Pipelines $7.1B, Canadian Natural Gas Pipelines $5.8B, Mexico Natural Gas Pipelines $1.4B, Power and Energy Solutions $845M, Corporate $14M.
From TC Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.