TC Energy Corporation (TRP) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 1.87B | 1.89B | 1.92B | 2.17B | 1.36B | 2.08B | 1.79B | 1.21B | 1.53B | 1.86B | 1.82B | 1.51B | 2.07B | 2.02B | 2.1B | 756.28M | 1.71B | 1.8B | 1.71B | 1.71B |
| Operating CF Margin % | 44.09% | 46.52% | 51.84% | 58.04% | 37.51% | 153.24% | 43.88% | 36.35% | 43.59% | 43.91% | 46.29% | 39.43% | 52.8% | 50.11% | 55.27% | 20.79% | 48.77% | 50.25% | 52.84% | 53.77% |
| Operating CF Growth % | 37.7% | -9.12% | 7.18% | 79.69% | -11.15% | 12.04% | -1.78% | -19.91% | -26.25% | -8.15% | -13.14% | 99.66% | 21.5% | 12.44% | 22.66% | -55.8% | 2.46% | -7.12% | -3.98% | 6.08% |
| Net Income | 666.44M | 1.18B | 764M | 973M | 1.18B | 1.18B | 1.01B | 607.21M | 746.32M | 1.61B | -173M | 279M | 1.35B | -1.42B | 622.88M | 715.91M | 400M | 1.16B | 818M | 1.02B |
| Depreciation & Amortization | 519.78M | 719M | 701M | 671M | 678M | 639M | 464.12M | 462.53M | 468.76M | 717M | 690M | 694M | 677M | 670M | 471.86M | 493.06M | 626M | 634M | 610M | 633M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 134.44M | 107M | 135M | 314M | 210M | 96M | 121.94M | 65.03M | 105.56M | -398M | 37M | 143M | 229M | 60M | 8.67M | 41.93M | 48M | 392M | -17M | 89M |
| Other Non-Cash Items | 364.49M | 138M | 190M | 6M | -114M | -345M | 47.3M | 200.21M | 462.85M | -296M | 1.17B | 571M | -239M | 2.84B | 948.05M | -14.75M | 593M | -128M | 74M | -4M |
| Working Capital Changes | 186.2M | -252M | 130M | 209M | -590M | 512M | 150.03M | -125.68M | -253.94M | 222M | 102M | -177M | 60M | -128M | 48.41M | -479.86M | 40M | -255M | 227M | -27M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -908.71M | -1.64B | -1.59B | -1.49B | -1.74B | -2.52B | -1.01B | -1.23B | -1.39B | -2.91B | -3.33B | -3.27B | -2.78B | -3.01B | -1.69B | -826.94M | -1.83B | -1.39B | -2.37B | -1.76B |
| Capital Expenditures | -772.12M | -1.35B | -1.26B | -1.11B | -1.56B | -1.65B | -1.3B | -983.52M | -1.18B | -2.08B | -2.06B | -2.04B | -1.96B | -2.12B | -1.33B | -980.68M | -1.52B | -1.62B | -1.45B | -1.21B |
| CapEx % of Revenue | 18.19% | 33.16% | 33.94% | 29.78% | 43.17% | 121.25% | 31.93% | 29.56% | 33.64% | 49.15% | 52.28% | 53.37% | 49.97% | 52.44% | 34.94% | 26.96% | 43.46% | 45.17% | 44.63% | 38.15% |
| Acquisitions | 0 | -293M | -249M | -264M | -245M | -3.79B | 549.11M | 35.07M | 0 | -908M | -1.23B | -1.11B | -138M | -1.05B | 0 | 0 | -1.42B | -504M | -241M | -225M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 30.91M | 0 | -87M | -107M | 73M | 2.93B | 1.48M | -102.3M | 8.86M | 981M | -40M | -115M | -675M | 162M | 104.05M | 284.19M | 1.1B | 1.24B | -445M | -93M |
| Cash from Financing | -318.48M | -1.89B | 69M | -1.25B | 1.55B | -8.94B | 4.77B | -520.26M | -497.55M | 2.85B | 2.27B | -964M | 3.94B | -541M | -4.34M | 388.24M | 534M | -2.65B | 596M | 686M |
| Debt Issued (Net) | 725.39M | -474M | 956M | -272M | 2.62B | -7.93B | 5.73B | -56.99M | 468.76M | -1.41B | 2.88B | -337M | 4.68B | 69M | -600.48M | 1.86B | 1.31B | -1.83B | 1.5B | 2.07B |
| Equity Issued (Net) | 44.57M | -233M | 37M | 20M | 30M | -352M | 15.52M | 0 | 0 | 0 | 0 | 1M | 3M | 5M | 1.26B | -753.95M | 129M | 84M | 4M | -474M |
| Dividends Paid | -654.94M | -913M | -914M | -911M | -883M | -1.02B | -755.31M | -745.31M | -729.34M | -989M | -605M | -612M | -673M | -591M | -654.68M | -712.02M | -884M | -884M | -884M | -890M |
| Share Repurchases | 0 | -250M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -776.47M | 0 | 0 | 0 | 0 |
| Other Financing | -433.51M | -265M | -10M | -83M | -220M | 365M | -220.98M | 282.05M | -236.96M | 5.24B | -11M | -16M | -62M | -24M | -7.95M | -2.33M | -26M | -22M | -19M | -18M |
| Net Change in Cash | 588.53M | -1.63B | 380M | -540M | 1.16B | -9.19B | 5.57B | -549.32M | -439.1M | 1.71B | 879M | -2.76B | 3.23B | -1.54B | 393.01M | 310.27M | 400M | -2.18B | -31M | 631M |
| Free Cash Flow | 1.1B | 544M | 663M | 1.06B | -205M | 435M | 493.69M | 235.29M | 363.93M | -222M | -236M | -534M | 111M | -94M | 772.46M | -224.4M | 186M | 182M | 266M | 497M |
| FCF Margin % | 25.97% | 13.36% | 17.9% | 28.26% | -5.66% | 31.99% | 12.09% | 7.07% | 10.37% | -5.24% | -5.99% | -13.94% | 2.83% | -2.33% | 20.33% | -6.17% | 5.31% | 5.08% | 8.21% | 15.62% |
| FCF Growth % | 637.61% | 25.06% | 34.3% | 349.67% | -156.33% | 295.95% | 309.19% | 144.06% | 227.87% | -136.17% | -130.55% | -137.97% | -40.32% | -151.65% | 190.4% | -145.15% | 785.71% | 828% | 195% | 231.83% |
| FCF per Share | 1.06 | 0.52 | 0.64 | 1.02 | -0.20 | 0.42 | 0.48 | 0.23 | 0.35 | -0.21 | -0.23 | -0.52 | 0.11 | -0.09 | 0.77 | -0.23 | 0.19 | 0.19 | 0.27 | 0.51 |
| FCF Conversion (FCF/Net Income) | 2.01x | 1.87x | 3.01x | 2.52x | 1.35x | 2.09x | 1.21x | 1.22x | 1.25x | 1.25x | -10.48x | 5.53x | 1.55x | -1.42x | 2.44x | 0.82x | 4.39x | 1.57x | 2.11x | 1.69x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |