South Bow Corporation SOBO
Annual
Quarterly
FY2025 · ended Dec 31, 2025 · Revenue $1.99B, -6.3% YoY · Filed Mar 16, 2026
South Bow Corporation (SOBO) files with the SEC under industry code 4610, Pipe Lines (No Natural Gas). In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $2.0 billion and net income of $433.0 million. As of Dec 31, 2025 it held $549.0 million in cash and investments and $26.0 million in total debt.
Revenue
$1.99B
-6.3% vs prior year
Net income
$433.00M
+37.0% vs prior year
Operating cash flow
$717.00M
+35.5% vs prior year
Free cash flow
$388.00M
EPS
$2.07
+36.2% vs prior year
Dividend per share
None
Shares outstanding
208.25M
+0.1% vs prior year
Net cash
$523.00M
FY 2025
Operating margin
51.5%
FY 2024
Company profile
- Industry
- Pipe Lines (No Natural Gas) (SIC 4610)
- Listed as
- SOBO (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- Canada (Federal Level)
- Headquarters
- Calgary
- SEC CIK
- 2019061
Other Pipe Lines (No Natural Gas) companies
- Enbridge Inc ENB
- Mplx LP MPLX
- HF Sinclair Corp DINO
- Plains All American Pipeline LP PAA
- Plains GP Holdings LP PAGP
- Delek Logistics Partners, LP DKL
- Genesis Energy LP GEL
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
|---|---|---|
| Revenue | $2.0B | $2.1B |
| Operating income | — | $1.1B |
| Net income | $433.0M | $316.0M |
| Diluted EPS | $2.07 | $1.52 |
| Operating cash flow | $717.0M | $529.0M |
| Free cash flow | — | $388.0M |
| Total assets | $11.2B | $11.3B |
| Total liabilities | $8.5B | $8.7B |
| Stockholders' equity | $2.7B | $2.6B |
| Cash and investments | $549.0M | $397.0M |
| Total debt | $26.0M | $22.0M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 6-K | Current report (foreign issuer) | Nov 4, 2026 | Sep 30, 2026 |
| 6-K | Current report (foreign issuer) | Nov 4, 2026 | Sep 30, 2026 |
| 6-K | Current report (foreign issuer) | Nov 4, 2026 | Nov 4, 2026 |
| 6-K | Current report (foreign issuer) | Oct 7, 2026 | Oct 7, 2026 |
| 6-K | Current report (foreign issuer) | Aug 5, 2026 | Jun 30, 2026 |
| 6-K | Current report (foreign issuer) | Aug 5, 2026 | Jun 30, 2026 |
All 87 South Bow Corporation SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.