South Bow Corporation
NYSE: SOBO · ENERGY · OIL & GAS MIDSTREAM
Updated 2026-06-05
South Bow Corporation (SOBO) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2023 | $2.66B | $585.87M | 82.49% | 34.91% | 22.04% |
| 2024 | $2.12B | $316.00M | 70.66% | 35.14% | 14.91% |
| 2025 | $1.61B | $440.58M | 19.20% | 19.71% | 27.35% |
Frequently asked questions
What is South Bow Corporation's revenue?
South Bow Corporation's trailing twelve-month revenue is $1.98B, and consensus projects about $2.88B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is SOBO?
In its most recent fiscal year, SOBO ran a gross margin of 19.20%, an operating margin of 19.71%, and a net margin of 27.35%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does SOBO generate?
SOBO produced $548.44M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is SOBO's balance sheet healthy?
SOBO holds $573.95M in cash and equivalents against $5.77B in long-term debt, on $2.70B of shareholder equity. That debt is best read against the cash flow the business throws off each year.