InsiderClue
Stocks · Energy · Pipe Lines (No Natural Gas)

South Bow Corp

SOBO Clue Score52
Canada (Federal Level) Fiscal year ends December CIK 0002019061
$33.22 -1.83% Close, 9 Oct 2026
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Price $33.22 +20.58% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 3 Oct 2024. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2023Revenue2.01Operating income1.07Net income0.44EPS, diluted2.13Fiscal year 2024Revenue2.12 +5.7%Operating income1.09Net income0.32 −28.5%EPS, diluted1.52 −28.6%Fiscal year 2025Revenue1.99 −6.3%Net income0.43 +37.0%EPS, diluted2.07 +36.2%
FY2023FY2024FY2025
Revenue 2.01 2.12 1.99
Growth +5.7% −6.3%
Operating income 1.07 1.09 n/a
Net income 0.44 0.32 0.43
Growth −28.5% +37.0%
EPS, diluted 2.13 1.52 2.07
Growth −28.6% +36.2%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2023Operating margin53.6%Net margin22.0%Free cash flow margin36.5%Fiscal year 2024Operating margin51.5%Net margin14.9%Free cash flow margin18.3%Fiscal year 2025Net margin21.8%
FY2023FY2024FY2025
Operating margin 53.6% 51.5% n/a
Net margin 22.0% 14.9% 21.8%
Free cash flow margin 36.5% 18.3% n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2023Operating cash flow0.78Capital expenditure−0.05Free cash flow0.73Fiscal year 2024Operating cash flow0.53Capital expenditure−0.14Free cash flow0.39 −47.0%Dividends paid0.00Fiscal year 2025Operating cash flow0.72Dividends paid−0.42
FY2023FY2024FY2025
Operating cash flow 0.78 0.53 0.72
Capital expenditure −0.05 −0.14 n/a
Free cash flow 0.73 0.39 n/a
Growth −47.0%
Dividends paid n/a 0.00 −0.42

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2023Cash0.26Shareholders’ equity2.84Fiscal year 2024Cash0.40Shareholders’ equity2.61Fiscal year 2025Cash0.55Shareholders’ equity2.71
FY2023FY2024FY2025
Cash 0.26 0.40 0.55
Shareholders’ equity 2.84 2.61 2.71

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
53.6% 51.5% n/a
28.0% 19.7% 25.0%
22.0% 14.9% 21.8%
36.5% 18.3% n/a
Spending
2.3% 6.7% n/a
21.4% 24.4% 12.9%
Returns
15.6% 12.1% 16.0%
3.7% 2.8% 3.9%
Balance and payout
76.4% 77.0% 75.8%
n/a 0.0% 96.1%
n/a 0.0% n/a