South Bow Corporation (SOBO) Revenue History
Annual and quarterly revenue from 2023 to present
SOBO Revenue Over Time (2023–2025)
SOBO Revenue Growth History
1 of 2 years with positive growth- FY2023 revenue growth
- N/A
- FY2024 revenue growth
- +5.7%
- FY2025 revenue growth
- -24.0%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $417.1M | -16.2% |
| Q4 2025 | $419.3M | -27.3% |
| Q3 2025 | $263.5M | -51.1% |
| Q2 2025 | $524.0M | -5.4% |
| Q1 2025 | $498.0M | -8.0% |
| Q4 2024 | $577.1M | +12.8% |
| Q3 2024 | $538.8M | — |
| Q2 2024 | $553.9M | — |
Multi-year avg. share of annual revenue by fiscal quarter
SOBO Revenue Analysis (2023–2025)
Current Revenue & Growth
As of June 19, 2026, South Bow Corporation (SOBO) generated trailing twelve-month (TTM) revenue of $1.62 billion, reflecting significant decline in growth of -16.2% year-over-year. The most recent quarter (Q1 2026) recorded $417.1 million in revenue, down 0.5% sequentially.
Historical Growth Trajectory
SOBO's historical revenue data shows various trends over time. South Bow Corporation's highest annual revenue of $2.12 billion was recorded in 2024.
Peer Comparison
Compared to Energy sector peers — including KMI (+13.1% YoY), WMB (+10.6% YoY), and OKE (+41.0% YoY) — SOBO has underperformed the peer group in revenue growth. Compare SOBO vs KMI →
SOBO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
 SOBOCurrent | $1.6B | -16.2% | - | 19.7% | |
 KMI | $16.9B | +13.1% | +8.1% | 28.4% | |
 WMB | $11.9B | +10.6% | +9.1% | 36.8% | |
 OKE | $33.6B | +41.0% | +31.8% | 20.7% | |
 TRP | $15.2B | +23.3% | +3.2% | 44.2% | |
 ENB | $65.2B | +27.9% | +10.8% | 16.8% |
SOBO Historical Revenue Data (2023–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.61B | -24.0% | $309.3M | 19.2% | $317.5M | 19.7% |
| 2024 | $2.12B | +5.7% | $1.50B | 70.7% | $745.0M | 35.1% |
| 2023 | $2.00B | - | $1.65B | 82.5% | $700.0M | 34.9% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
3+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
SOBO — Frequently Asked Questions
Quick answers to the most common questions about buying SOBO stock.
Is SOBO's revenue growth accelerating or slowing?
SOBO revenue is declining -16.2% year-over-year. TTM revenue fell to $1.6B, contrasting with the 5-year CAGR of N/A. The reversal reflects either macro headwinds or company-specific challenges.
What is SOBO's revenue history from 2023 to 2026?
South Bow Corporation (SOBO) revenue history spans 2023 to 2026. TTM revenue as of 2026 is $1.6B, growing at -16.2% YoY. The 5-year CAGR is N/A. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SOBO's long-term revenue growth rate (CAGR)?
South Bow Corporation's 5-year revenue CAGR of N/A reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -16.2% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SOBO.
Why does SOBO's quarterly revenue fluctuate?
SOBO quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. South Bow Corporation's revenue data from 2023 to 2026 shows full historical quarterly detail on this page.
How is SOBO's revenue distributed by segment?
SOBO reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SOBO's revenue compare to industry peers?
South Bow Corporation (SOBO) with TTM revenue of $1.6B and -16.2% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.