TC EnergyTRP +0.12%66 3-Year ROIIC % is -514.20 as of Dec. 2025. GuruFocus rates TRP with a GF Score™ of 66/100 and a GF Value™ of $51.78 (Significantly Overvalued). The stock has 12 warning signs investors should review. Among 923 Oil & Gas companies, TC Energy ranks worse than 98.05% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
TC Energy's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was -514.20%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for TC Energy's 3-Year ROIIC % or its related term are showing as below:
TRP's 3-Year ROIIC % is ranked worse than 98.05% of 923
companies
in the Oil & Gas industry
Industry Median: 0.01
vs TRP: -514.20
TC Energy (NYSE:TRP) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
TC Energy 3-Year ROIIC % Related Terms
TC Energy 3-Year ROIIC % Historical Data
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The historical data trend for TC Energy's 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TC Energy's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where TC Energy's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
TC Energy (TRP) has a 3-Year ROIIC % of -514.20 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on TC Energy and its competitors. According to the industry distribution chart, TC Energy ranks #905 out of 923 companies in the Oil & Gas industry, placing it in the top 98%.
Is TC Energy's 3-Year ROIIC % too high?
TC Energy's current 3-Year ROIIC % is -514.20. Based on the distribution chart, TC Energy ranks #905 out of 923 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, TC Energy has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TC Energy's 3-Year ROIIC % compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, TC Energy ranks #905 out of 923 companies for 3-Year ROIIC %. This places TC Energy in the lower half of its industry. The industry median 3-Year ROIIC % is 0.01. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Oil & Gas company?
The median 3-Year ROIIC % among Oil & Gas companies is 0.01, based on 923 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on TC Energy and its competitors. For the Oil & Gas industry, the median 3-Year ROIIC % is 0.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TC Energy's current 3-Year ROIIC % is -514.20. 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 $51.78, compared to a current price of $68.88 — trading 33% above its estimated fair value. The current 3-Year ROIIC % is -514.20. TC Energy's overall GF Score™ is 66/100 with 12 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For TC Energy (TRP), the current 3-Year ROIIC % is -514.20 as of Dec. 2025. 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 $68.88 is trading 33% above its estimated GF Value™ of $51.78.
GuruFocus considers TC Energy to be Significantly Overvalued.
Key valuation signals for TRP:
3-Year ROIIC %: -514.20
GF Value™: $51.78 vs. price of $68.88 (33% above fair value)
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.
66GF Score
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