South Bow Corporation: stock overview

SOBONYSEEnergy · Pipe Lines (No Natural Gas)

Price

$33.32

November 13, 2026Market cap $6.9B

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  • The full history: 3 fiscal years, from 2023
  • The estimated fair value, with its range and its certainty
  • The full analysis, 18 a month
  • More questions to the chat on its filings
  • Excel with every year
  • An email when it reports, changes its dividend or an officer buys

Sign in with a free account to see the last 5 fiscal years.

Notes on these figures

  • The company has not filed all four quarters of its dividend, so the yearly dividend is the latest quarter times four. It is an estimate.
  • The interest the company pays is far more than the debt we can read would cost, so part of its borrowing is missing from the figures. We leave out the debt, net cash, enterprise value and the multiples built on them.

In short

South Bow had revenue of $2.0B in the fiscal year to December 31, 2025 and net income of $433M, a net margin of 21.8%. Revenue fell by 0.5% a year on average over the last 2 years. At $33.32 the shares trade at a P/E of 16.0. It pays a dividend yielding 6.00%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$6.9B
208M shares
P/E
16.0
Revenue, fiscal year
$2.0B
-0.5% a year over 2 years
Net margin
21.8%

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

-0.5% a year over 2 years

  • 202540-F
    Revenue$2.0B
  • 202440-F
    Revenue$2.1B
  • 2023
    Revenue$2.0B

Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 
$6.9B
Enterprise value 
–
P/E 
16.0
EV / EBIT 
–
EV / Revenue 
–
P/B 
2.6
FCF yield 
7.8%
Earnings yield 
6.3%

Profitability

Gross margin 
84.2%
Net margin 3-year median: 21.8%
21.8%
ROIC 
–
ROE, fiscal year 
16.0%

Growth

Revenue, yearly change 
-6.3%
EPS, yearly change 
+36.2%
FCF, yearly change 
+38.9%
Revenue, average a year 
-0.5%
EPS, average a year 
-1.4%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$549M
Total debt 
–
Net cash 
–
Net debt / EBITDA 
–
Interest cover 
1.5x
Current ratio 
–

Balance sheet of December 31, 2025.

Returns to shareholders

Dividend yield 
6.00%
Buybacks 
–
Total returned 
6.00%
Shares, yearly change 
0.0%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 46).

Net margin

21.8%

Above 84% of all companies (its industry has too few to compare).

ROE

16.0%

Above 78% of all companies (its industry has too few to compare).

ROA

3.9%

Above 66% of all companies (its industry has too few to compare).

Revenue growth

-6.3%

Above 15% of all companies (its industry has too few to compare).

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
South Bow Corp
CIK
2019061
Exchange
NYSE
Industry (SIC)
4610 · Pipe Lines (No Natural Gas)
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
208M

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The full analysis

What do South Bow's filings show?

These are South Bow's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about SOBO

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What is SOBO's market cap?

South Bow Corporation's market cap is $6.9B, at a price of $33.32 on November 13, 2026 and 208M shares.

What is SOBO's P/E?

SOBO's P/E is 16.0, on earnings per share of $2.07 in the fiscal year to December 31, 2025.

How much revenue does SOBO have?

South Bow had revenue of $2.0B in the fiscal year to December 31, 2025. Over the last 2 years it changed by -0.5% a year on average.

Does SOBO pay a dividend?

Yes. South Bow paid $2.00 per share over the last 12 months, a yield of 6.00% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From South Bow Corporation's SEC filings (its annual report on 40-F) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.