Pembina Pipeline vs TC Energy
TC Energy is the larger business, with $10.91bn of revenue in fiscal 2025 against $5.57bn for Pembina Pipeline (2.0 times as much). TC Energy grew faster (8.5% against 3.3%). TC Energy kept more of each dollar of sales as profit: a net margin of 23.1% against 21.8%. Pembina Pipeline carries less debt relative to equity (69.6% against 175.8%).
| Latest fiscal year | Pembina PipelinePBA, 2025 | TC EnergyTRP, 2025 |
|---|---|---|
| Revenue | $5.57bn | $10.91bn |
| Revenue growth | 3.3% | 8.5% |
| Net income | $1.21bn | $2.52bn |
| Operating margin | 36.1% | 52.7% |
| Net margin | 21.8% | 23.1% |
| Return on equity | 9.9% | 12.9% |
| Free cash flow | — | $1.49bn |
| Cash | $77.3m | $123m |
| Total debt | $8.51bn | $35.00bn |
| Debt to equity | 69.6% | 175.8% |
| Dividend per share | — | — |
| Dividend yield | — | 3.8% |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $28.97bn | $66.20bn |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |