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TC Energy Corp cash flow statement

In fiscal 2025, TC Energy Corp's operations generated $5.26bn of cash; it spent $3.77bn on capital projects, leaving free cash flow of $1.49bn. It returned $2.51bn in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025
Cash from operations2,7943,7313,5743,5683,8293,4333,8314,0325,0625,3375,2635,4994,9035,3875,6205,259
Depreciation and amortisation—1,3441,3761,4421,4591,3821,4661,5841,8151,8571,9312,0131,9872,0592,0361,982
Stock-based pay455661011910109108745
Capital spending4,2512,5432,5974,1413,1613,0683,7845,6927,2725,6346,6375,6946,8929,1155,7713,773
Free cash flow−1,4571,187977−57366836547−1,660−2,211−296−1,374−195−1,989−3,728−1521,486
Free cash flow after stock pay−1,4611,182972−57966135536−1,669−2,221−306−1,383−204−1,997−3,735−1561,481
Dividends paid6909731,2271,2481,2191,1321,0851,0321,2131,3552,2272,6472,4552,0662,8862,511
Share buybacks———002301100———————
Shares issued2559537043215,855211886191681181,46536474

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from TC Energy Corp's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to TC Energy Corp.