South Bow Corporation

South Bow Corporation

SOBO
South Bow CorporationUS flagNew York Stock Exchange
37.48
USD
+0.18
- -
7.82BMarket Cap
South Bow Corporation
SOBO
(New York Stock Exchange)

Recent

price

37.48

P/E

ratio

- -

div

yld

- -

ROIC.AI

2023
2024
2025
TTM
FRC
9.66
10.21
9.55
9.51
Revenue per Share
2.13
1.52
2.08
2.03
Basic EPS, GAAP
3.75
2.55
3.45
3.74
Free Cash Flow per Basic Share
- -
- -
2
2
Dividend per Share
14.3
10.34
10.43
10.32
Book Value per Share
13.68
12.57
13.02
12.78
Tangible Book Value per Share
208
208
208
208
Basic Weighted Avg Shares
2,005
2,120
1,986
1,979
Sales/Revenue/Turnover
34.91
35.14
36
35.22
Operating Margin (%)
244
246
247
249
Depreciation Expense
442
316
433
422
Net Income, GAAP
21.35
24.4
12.88
12.63
Effective Tax Rate (%)
22.04
14.91
21.8
21.32
Profit Margin (%)
539
437
674
733
Working Capital
5,967
5,738
5,791
5,751
LT Debt
2,840
2,610
2,709
2,661
Total Equity
- -
6.57
7.39
7.28
Return on Invested Capital (%)
- -
7.25
9.11
9.04
Return on Capital (%)
- -
12.36
20.06
19.7
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
5,751
5,768
5,751
LT Finance Leases
- -
23
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
208
208
209
Market Capitalization
5,889
5,717
6,936

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
2,329
2,015
2,177
Cash, Cash Equivalents & STI
501
549
599
Accounts Receivable, Net
1,090
1,107
977
Inventories
127
100
192
Total Current Liabilities
1,714
1,341
1,444
Payables & Accruals
1,714
1,017
1,444
ST Debt
- -
- -
- -
Deferred Revenue
- -
16
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
3.79%
Free Cash Flow
- -
- -
35.54%
Net Income, GAAP
- -
- -
37.03%
Sales/Revenue/Turnover
- -
- -
-6.32%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
544
554
534
477
2,120
2025
498
524
461
503
1,986
2026
491
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.54
0.42
0.29
- -
1.52
2025
0.42
0.46
0.45
0.75
2.08
2026
0.37
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
0.5
0.5
0.5
0.5
2
2026
0.5
- -
- -
- -
- -
Business
South Bow Corporation (SOBO:TSX, SOBO:NYSE) operates as an energy infrastructure company focused on the transportation and storage of crude oil. The company owns and operates approximately 4,900 kilometres of pipeline infrastructure, including the Keystone Pipeline System, which transports crude oil from Hardisty, Alberta, to refining and demand markets in the U.S. Midwest, Illinois, Oklahoma, and Gulf Coast; the Intra-Alberta pipelines segment, comprising the Grand Rapids Pipeline and White Spruce Pipeline, which provide crude oil transportation from Alberta's oil sands region to terminals in the Edmonton and Heartland refining and market regions; and a marketing segment offering crude oil marketing services, including transportation, storage, logistics, and ancillary terminal storage services. South Bow serves producers, refiners, and marketers in the North American energy sector, with operations spanning Canada and the United States. Incorporated in 2023 and headquartered at 707 - 5th Street SW, Suite 900, Calgary, Alberta, Canada, South Bow was spun off from TC Energy Corporation on October 1, 2024, following shareholder approval in June 2024 and the establishment of a CAD 7.9 billion independent debt capital structure, including senior notes and a CAD 2.0 billion revolving credit facility. Recent developments include the achievement of mechanical completion on the CAD 1.2 billion Blackrod Connection Project, a Keystone Pipeline expansion featuring a 6-mile crude oil pipeline and 16-mile natural gas lateral to connect International Petroleum's Blackrod project to the Grand Rapids Pipeline, with final activities on track for commercial service in early 2026 and expected incremental annual cash flows of CAD 150 million; a 2025 pipeline rupture response at milepost 171 demonstrating operational resilience with a 7-day restart and CAD 58 million in largely insured costs; the transition to a new supervisory control and data acquisition (SCADA) system in Q4 2025, completing exit from the transition services agreement with TC Energy; and deleveraging efforts targeting 4.5x net debt/EBITDA by 2027 amid 90% contract-backed EBITDA stability.

Company News

APIChatGPT
  • South Bow Announces Timing of Second-quarter 2026 Results and Conference Call and Webcast

  • South Bow targets 2027 decision on Canada-US oil pipeline revival

  • South Bow Announces Successful Open Season

  • Canada's South Bow delays Keystone XL restart until US permit assured

  • South Bow Q1 Earnings Call Highlights

  • South Bow Corporation (SOBO:CA) Q1 2026 Earnings Call Transcript

  • South Bow working to secure required permitting for Canada-US oil pipeline proposal

  • South Bow Corporation (SOBO) Q1 Earnings and Revenues Miss Estimates

  • South Bow Announces Approval of Resolutions at Annual General Meeting of Shareholders

  • South Bow Reports First-quarter 2026 Results and Declares Dividend

  • South Bow Corporation (SOBO:CA) Shareholder/Analyst Call Prepared Remarks Transcript

  • South Bow Corporation (SOBO) Expected to Beat Earnings Estimates: Can the Stock Move Higher?

  • Will South Bow Corporation (SOBO) Beat Estimates Again in Its Next Earnings Report?

  • South Bow: Nice Company, Solid Assets, But Wrong Time To Buy

  • South Bow Announces Timing of First-quarter 2026 Results, Conference Call and Webcast, and Annual General Meeting

  • JPMorgan Chase & Co. Acquires 79,858 Shares of South Bow Corporation $SOBO

  • South Bow Files 2025 Annual Disclosure Documents

  • Capital Group Private Client Services Inc. Sells 106,437 Shares of South Bow Corporation $SOBO

  • American Century Companies Inc. Grows Position in South Bow Corporation $SOBO

  • South Bow Corporation (SOBO:CA) Q4 2025 Earnings Call Transcript