TC EnergyTRP +0.53%71 Gross Margin % is 52.53% as of Mar. 2026, which is 8% above its 10-year median of 48.56. GuruFocus rates TRP with a GF Score™ of 71/100 and a GF Value™ of $51.62 (Significantly Overvalued). The stock has 12 warning signs investors should review. Among 867 Oil & Gas companies, TC Energy ranks better than 79.7% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. TC Energy's Gross Profit for the
three
months ended in Mar. 2026 was $1,478 Mil. TC Energy's Revenue for the
three
months ended in Mar. 2026 was $2,814 Mil. Therefore, TC Energy's Gross Margin % for the quarter that ended in Mar. 2026 was 52.53%.
The historical rank and industry rank for TC Energy's Gross Margin % or its related term are showing as below:
TRP'
s Gross Margin % Range Over the Past 10 Years
Min: 36.46 Med: 48.56 Max: 50.31
Current: 50.31
During the past 13 years, the highestGross Margin % of TC Energy was 50.31%. The lowest was 36.46%. And the median was 48.56%.
TRP's Gross Margin % is ranked better than 79.7% of 867
companies
in the Oil & Gas industry
Industry Median: 25.7
vs TRP: 50.31
TC Energy had a gross margin of 52.53% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for TC Energy was -0.20% per year.
TC Energy (NYSE:TRP) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
TC Energy had a gross margin of 52.53% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
TC Energy Gross Margin % Related Terms
TC Energy Gross Margin % Historical Data
* Premium members only.
The historical data trend for TC Energy's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Midstream subindustry, TC Energy's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TC Energy Gross Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TC Energy's Gross Margin % distribution charts can be found below:
* The bar in red indicates where TC Energy's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
TC Energy (TRP) has a Gross Margin % of 52.53% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on TC Energy and its competitors. This is near median its historical median of 48.56. Over the past decade, TC Energy's Gross Margin % has ranged from 36.46 to 50.31. According to the industry distribution chart, TC Energy ranks #176 out of 867 companies in the Oil & Gas industry, placing it in the top 20.3%.
Is TC Energy's Gross Margin % too high?
TC Energy's current Gross Margin % of 52.53% is near median its 10-year median of 48.56. Over the past 10 years, this metric has ranged from a low of 36.46 to a high of 50.31. The Oil & Gas industry median Gross Margin % is 25.70. TC Energy's value of 52.53% is 104.4% above this industry median. Based on the distribution chart, TC Energy ranks #176 out of 867 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, TC Energy has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TC Energy's Gross Margin % compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, TC Energy ranks #176 out of 867 companies for Gross Margin %. This places TC Energy in the top 20% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 25.70. TC Energy's value of 52.53% is 104.4% above this benchmark. Historically, TC Energy's own Gross Margin % has ranged from 36.46 to 50.31 over the past decade. While the company's 10-year median is 48.56 vs. the industry median of 25.70, TC Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Oil & Gas company?
The median Gross Margin % among Oil & Gas companies is 25.70, based on 867 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TC Energy's current Gross Margin % of 52.53% is 104.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on TC Energy and its competitors. For the Oil & Gas industry, the median Gross Margin % is 25.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TC Energy's current Gross Margin % is 52.53%, which is near median its own 10-year median of 48.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TC Energy stock overvalued right now?
Based on GuruFocus' analysis, TC Energy (TRP) is currently considered Significantly Overvalued. The stock's GF Value™ is $51.62, compared to a current price of $69.73 — trading 35.1% above its estimated fair value. The current Gross Margin % is 52.53%, which is near median its 10-year median of 48.56 and 104.4% above the Oil & Gas industry median of 25.70. TC Energy's overall GF Score™ is 71/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For TC Energy (TRP), the current Gross Margin % is 52.53% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is TC Energy (TRP) Overvalued in 2026?
Based on GuruFocus' analysis, TC Energy stock appears to be overvalued.
The current stock price of $69.73 is trading 35.1% above its estimated GF Value™ of $51.62.
GuruFocus considers TC Energy to be Significantly Overvalued.
Key valuation signals for TRP:
Gross Margin %: 52.53% (near median its 10-year median of 48.56)
GF Value™: $51.62 vs. price of $69.73 (35.1% above fair value)
Industry Position: 104.4% above the Oil & Gas median (#176 of 867)
No single metric tells the full story. See the TRP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TC Energy operates natural gas transmission assets across North America. Segments are determined by country of operation, but both Canadian and US operations are interconnected. Mexican operations are disconnected from the US and only have one customer, the state utility CFE. They also operate power generation assets, with the largest being the Bruce Power nuclear plant.
71GF Score
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