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South Bow Corporation (SOBO)
Energy · Oil & Gas Midstream · NYSE
South Bow Corporation revenue & earnings — last 3 fiscal years
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $2.00B | $2.12B | $1.99B |
| Gross profit | $1.41B | $1.50B | $1.43B |
| Net income | $442.00M | $316.00M | $433.00M |
| Net margin | 22.0% | 14.9% | 21.8% |
Source: South Bow Corporation SEC filings (10-K).
What growth is priced into SOBO stock?
At today's market cap of $7.95B, South Bow Corporation is priced for free-cash-flow growth of about 3.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $539.00M from the FY ending 2025-12-31). This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 3 years of South Bow Corporation financials — interactive
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South Bow Corporation financial history by metric
About South Bow Corporation
South Bow Corporation operates as an energy infrastructure company. It operates through three segments: Keystone Pipeline System, Marketing, and Intra-Alberta & Other. The Keystone Pipeline System segment consists of the company's main liquids pipeline network, which transports crude oil from Hardisty, Alberta, to key U.S. markets including Wood River, Patoka, Illinois, Cushing, Oklahoma, and the Gulf Coast. The Marketing segment provides crude oil marketing services, including transportation, storage, and logistics, and engages in physical crude oil trading and hedging activities. The Intra-Alberta & Other segment comprises pipelines such as the Grand Rapids Pipeline and White Spruce Pipeline, offering crude oil transportation from Alberta's oil sands to refining and market regions, and includes corporate and financing activities. The company also operates 4,900 kilometres of crude oil pipeline infrastructure connecting Alberta crude oil supplies to the U.S. refining markets in the U.S. Midwest and Gulf Coast. In addition, the company offers ancillary services, including storage at terminals. The company was incorporated in 2023 and is based in Calgary, Canada.
South Bow Corporation — frequently asked questions
What is South Bow Corporation's revenue?
South Bow Corporation (SOBO) reported revenue of $1.99B for fiscal year 2025, down 6.3% from the prior year, according to its SEC filings.
Is South Bow Corporation profitable?
Yes. SOBO earned net income of $433.00M in fiscal 2025, a net margin of 21.8%.
What is SOBO's P/E ratio?
South Bow Corporation trades at a price-to-earnings ratio of about 18.9 based on the latest data in our nightly-refreshed cache.
How fast is South Bow Corporation growing?
SOBO's revenue grew at roughly -0.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does South Bow Corporation have?
As of fiscal year 2025, SOBO carried roughly $5.77B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is South Bow Corporation's gross margin?
SOBO's gross margin was 71.8% in fiscal 2025 — gross profit of $1.43B on revenue of $1.99B.
What is South Bow Corporation's market cap?
South Bow Corporation (SOBO) has a market capitalization of about $7.95B, based on the latest data in our nightly-refreshed cache.
When does South Bow Corporation's fiscal year end?
SOBO's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into SOBO stock?
At today's market cap of $7.95B, South Bow Corporation is priced for free-cash-flow growth of about 3.6% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $539.00M from the FY ending 2025-12-31).
Where does this data come from?
All figures are computed from South Bow Corporation's official SEC filings (10-K and 10-Q), covering 3 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.