South Bow Corporation balance sheet SOBO
As of Dec 31, 2025, South Bow Corporation had total assets of $11.2 billion and total liabilities of $8.5 billion. Total assets were down 1.2% from a year earlier. Stockholders' equity was $2.7 billion. It held $549.0 million in cash and investments against $26.0 million of total debt, net cash of $523.0 million. The current ratio, current assets divided by current liabilities, was 1.50.
USD in millions, except ratios and per-share amounts. The percent under a figure is the change from the year before.
| Line |
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
|---|---|---|
| Assets | ||
| Cash |
549
+38.3%
|
397
|
| Cash and investments |
549
+38.3%
|
397
|
| Receivables |
1,107
-7.0%
|
1,190
|
| Inventory |
100
-51.7%
|
207
|
| Total current assets |
2,015
-8.3%
|
2,198
|
| Property and equipment, net |
8,210
+0.0%
|
8,206
|
| Total assets |
11,193
-1.2%
|
11,329
|
| Liabilities and equity | ||
| Total current liabilities |
1,341
-23.9%
|
1,761
|
| Total liabilities |
8,484
-2.7%
|
8,719
|
| Stockholders' equity |
2,709
+3.8%
|
2,610
|
| Debt | ||
| Lease liabilities |
26
+18.2%
|
22
|
| Total debt |
26
+18.2%
|
22
|
| Net cash |
523
+39.5%
|
375
|
| Ratios | ||
| Current ratio |
1.50x
|
1.25x
|
| Debt to equity |
0.01x
|
0.01x
|
| Debt to EBITDA |
—
|
0.02x
|
| Return on equity |
15.98%
|
12.11%
|
| Return on assets |
3.87%
|
2.79%
|
| Book value per share |
13.02
|
12.55
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.
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
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Source: SEC EDGAR filings. This is company-reported data, not investment advice.