South Bow Corporation(SOBO)Earnings, Financials & Key Ratios
SOBO•NYSE
$36.57
17.3× P/E·Price updated Jun 27, 2026
AboutSouth Bow Corp.is an energy infrastructure company. It engages in the construction and operation of pipelines that transport crude oil and other liquids across Canada and the United States. The company was founded on December 15, 2023 and is headquartered in Calgary, Canada.Show more
- Revenue$1.61B-24.0%
- EBITDA$569M-42.6%
- Net Income$441M+39.4%
- EPS (Diluted)2.11+38.8%
- Gross Margin19.2%-72.8%
- EBITDA Margin35.31%-24.5%
- Operating Margin19.71%-43.9%
- Net Margin27.35%+83.5%
- ROE16.58%+43.0%
SOBO Price & Volume
South Bow Corporation (SOBO) stock price & volume — 10-year historical chart
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Volatile Revenue Trends Challenge Midstream Infrastructure Stability
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Contracting
Profitability:Strained
Financial Position:Adequate
Cash Flow:Mixed
Primary Risk:Post-Spin Operational Volatility
"South Bow Corporation faces a complex transition period following its separation, characterized by a 16.2% year-over-year revenue decline in 2026Q1 and significant margin volatility. While the company maintains a critical $8.1 billion asset base in property, plant, and equipment, the reliance on a debt-to-equity ratio of 2.16 suggests a constrained capital structure. Investors should monitor the sustainability of the 5.5% dividend yield against the backdrop of erratic cash flow conversion and rising maintenance capital expenditures, which reached 22.7% of revenue in 2025Q4."
Verdict Logic
while the 5.5% dividend yield is attractive, the high EV/EBITDA multiple of 22.56 and the 16.2% revenue contraction in 2026Q1 warrant caution regarding long-term operational stability.
SOBO Growth Metrics
South Bow Corporation (SOBO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-25.09%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM29.21%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM45.04%
Return on Capital
10 Years5.98%
5 Years5.98%
3 Years5.98%
Last Year3.27%
SOBO Recent Earnings
South Bow Corporation (SOBO) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/10 qtrs (71%)●Beat Revenue 2/10 qtrs (33%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.44-4.3%
$0.46
Rev
$491M-0.0%
$491M
Q2 2026
Mar 5, 2026Metric
Actual
Est
EPS
$0.61+45.2%
$0.42
Rev
$503M-0.3%
$505M
Q4 2025
Nov 13, 2025Metric
Actual
Est
EPS
$0.47+23.7%
$0.38
Rev
$264M-47.4%
$501M
Q3 2025
Aug 6, 2025Metric
Actual
Est
EPS
$0.42+10.5%
$0.38
Rev
$524M+15.7%
$453M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.44vs $0.46-4.3% | $491Mvs $491M-0.0% |
| Q2 2026 | Mar 5, 2026 | $0.61vs $0.42+45.2% | $503Mvs $505M-0.3% |
| Q4 2025 | Nov 13, 2025 | $0.47vs $0.38+23.7% | $264Mvs $501M-47.4% |
| Q3 2025 | Aug 6, 2025 | $0.42vs $0.38+10.5% | $524Mvs $453M+15.7% |
Based on last 10 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for South Bow Corporation (SOBO)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $36.57 | $7.63B | 17.33 | -24.02% | 27.35% | 16.58% | 5.54% | |
| $33.19 | $73.84B | 24.23 | 12.45% | 18.92% | 10.27% | — | |
| $77.92 | $95.3B | 36.41 | 13.78% | 23.82% | 18.98% | — | |
| $89.22 | $56.21B | 16.46 | 55.42% | 10.04% | 15.86% | — | |
| $69.65 | $72.56B | 30.21 | 10.29% | 21.83% | 9.23% | — | |
| $56.24 | $122.81B | 24.62 | 21.92% | 9.71% | 9.96% | — |
Compare SOBO vs Peers
South Bow Corporation (SOBO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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SOBO Frequently Asked Questions
South Bow Corporation (SOBO) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is South Bow Corporation's revenue?
South Bow Corporation (SOBO) reported $1.62B in revenue for fiscal year 2025. This represents a 19% decrease from $2.00B in 2023.
How fast is South Bow Corporation growing?
South Bow Corporation (SOBO) saw revenue decline by 24.0% over the past year.
Is SOBO profitable?
Yes, South Bow Corporation (SOBO) is profitable, generating $397.1M in net income for fiscal year 2025 (27.4% net margin).
Dividend & Returns
Does SOBO pay dividends?
Yes, South Bow Corporation (SOBO) pays a dividend with a yield of 5.54%. This makes it attractive for income-focused investors.
What is SOBO's return on equity?
South Bow Corporation (SOBO) has a return on equity (ROE) of 16.6%. This is reasonable for most industries.
What is South Bow Corporation's free cash flow?
South Bow Corporation (SOBO) generated $609.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.