South Bow revenue and financials
$48.65Change from previous close: +0.70%Absolute change: +$0.34
In the fiscal year ended December 2025, South Bow reported revenue of $1.99B (−6.32% year over year). Net income was $433M, a net margin of 21.8%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −6.32%
- 2025 vs 2024
- Net income growth
- +37.03%
- 2025 vs 2024
- Net margin
- 21.8%
- 2024: 14.9%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total revenue | 1,986 | 2,120 | 2,005 |
| Cost of revenue | 1,012 | 1,082 | 1,058 |
| Gross profit | 974 | 1,038 | 947 |
| Selling, general and administrative | 11.0 | 3.0 | 3.0 |
| Operating income | 724 | 774 | 700 |
| EBIT | 724 | 774 | 700 |
| EBITDA | 971 | 1,020 | 944 |
| Interest expense | 331 | 388 | 220 |
| Pre-tax income | 497 | 418 | 562 |
| Income tax | 64.0 | 102 | 120 |
| Net income | 433 | 316 | 442 |
| Net income to common shareholders | 433 | 316 | 442 |
| Basic EPS | 2.08 | 1.52 | 2.13 |
| Diluted EPS | 2.07 | 1.52 | 2.13 |
| Average shares (basic) | 208 | 208 | 208 |
| Average shares (diluted) | 209 | 208 | 208 |
| Dividend per share | 2.00 | 0.50 | — |