TC Energy Corporation (TRP) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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TRP Revenue Growth
Revenue Breakdown (FY 2025)
TRP's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
TRP Revenue Analysis (2014–2025)
As of May 8, 2026, TC Energy Corporation (TRP) generated trailing twelve-month (TTM) revenue of $15.14 billion, reflecting explosive growth of +199.4% year-over-year. The most recent quarter (Q4 2025) recorded $4.07 billion in revenue, up 9.9% sequentially.
Looking at the longer-term picture, TRP's 5-year compound annual growth rate (CAGR) stands at +3.2%, indicating moderate growth over time. The company achieved its highest annual revenue of $15.19 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows TRP's business is primarily driven by Natural Gas Storage And Other (88%), and Power Generation (12%). With over half of revenue concentrated in Natural Gas Storage And Other, the company maintains significant focus in this area while developing other growth vectors.
When compared to Energy sector peers including ENB (+21.9% YoY), KMI (+13.1% YoY), and WMB (+10.6% YoY), TRP has outperformed the peer group in terms of revenue growth. Compare TRP vs ENB →
TRP Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TRPCurrent | $15.1B | +199.4% | +3.2% | 44.2% | |
 ENB | $65.2B | +21.9% | +10.8% | 16.8% | |
 KMI | $16.9B | +13.1% | +8.1% | 28.4% | |
 WMB | $11.9B | +10.6% | +9.1% | 36.8% | |
 ET | $82.6B | +8.9% | +16.2% | 11.4% | |
 EPD | $52.6B | -6.4% | +14.1% | 13.1% |
TRP Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $15.19B | +10.3% | $7.60B | 50.0% | $6.72B | 44.2% |
| 2024 | $13.77B | +3.8% | $6.61B | 48.0% | $5.79B | 42.0% |
| 2023 | $13.27B | +7.8% | $6.67B | 50.3% | $5.89B | 44.4% |
| 2022 | $12.31B | -8.1% | $5.80B | 47.1% | $5.07B | 41.2% |
| 2021 | $13.39B | +3.0% | $6.68B | 49.9% | $5.91B | 44.1% |
| 2020 | $13.00B | -1.9% | $6.53B | 50.2% | $5.80B | 44.6% |
| 2019 | $13.26B | -3.1% | $6.51B | 49.1% | $5.79B | 43.7% |
| 2018 | $13.68B | +1.7% | $6.25B | 45.7% | $5.68B | 41.5% |
| 2017 | $13.45B | +7.5% | $5.11B | 38.0% | $4.54B | 33.7% |
| 2016 | $12.51B | +10.7% | $4.58B | 36.6% | $4.02B | 32.1% |
Full TRP Stock Analysis
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Start ComparisonTRP — Frequently Asked Questions
Quick answers to the most common questions about buying TRP stock.
Is TRP's revenue growth accelerating or slowing?
TRP revenue is accelerating at +199.4% year-over-year, exceeding the 5-year CAGR of +3.2%. TTM revenue reached $15.1B. Growth momentum has increased versus prior periods.
What is TRP's long-term revenue growth rate?
TC Energy Corporation's 5-year revenue CAGR of +3.2% reflects the sustained expansion pattern. Current YoY growth of +199.4% is above this long-term average.
How is TRP's revenue distributed by segment?
TRP reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.