South Bow revenue and financials

SOBO · TSX · CAD

$48.65+0.70%+$0.34

Close · October 6, 2026

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%.

Annual revenue · 2025: $1.99B

Fiscal year ending in December. Sources and method on the page Methodology and sources.

At a glance

Amounts in millions of USD; per-share values in USD; shares in millions.

Income statement · Quarterly
Item	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Total revenue	546	491	503	461	524	498	488	534	554	544	512	529
Cost of revenue	242	266	243	246	272	252	252	272	306	262	312	273
Gross profit	304	225	260	215	252	246	236	262	248	282	200	256
Selling, general and administrative	—	—	11.0	—	—	—	3.0	—	—	—	3.0	—
Operating income	239	161	204	149	189	181	171	186	186	221	206	174
EBIT	239	161	204	149	189	181	171	186	186	221	206	174
EBITDA	304	225	262	213	252	243	233	247	248	282	264	234
Interest expense	84.0	80.0	83.0	84.0	81.0	79.0	84.0	115	95.0	92.0	102	73.9
Pre-tax income	174	100	153	104	126	114	72.0	90.0	110	146	123	115
Income tax	40.0	23.0	-3.0	11.0	30.0	26.0	17.0	29.0	22.0	34.0	25.3	25.9
Net income	134	77.0	156	93.0	96.0	88.0	55.0	61.0	88.0	112	97.5	89.4
Net income to common shareholders	134	77.0	156	93.0	96.0	88.0	55.0	61.0	88.0	112	97.5	89.4
Basic EPS	0.64	0.37	0.75	0.45	0.46	0.42	0.26	0.29	0.42	0.54	0.47	—
Diluted EPS	0.64	0.37	0.74	0.45	0.46	0.42	0.26	0.29	0.42	0.54	0.47	—
Average shares (basic)	209	208	208	208	208	208	208	208	208	208	208	—
Average shares (diluted)	209	209	209	209	209	209	210	208	208	208	208	—
Dividend per share	0.50	0.50	0.50	0.50	0.50	0.50	0.50	—	—	—	—	—