South Bow Corporation income statement SOBO
In fiscal 2025, which ended Dec 31, 2025, South Bow Corporation reported revenue of $2.0 billion, down 6.3% from the year before. Net income was $433.0 million, a profit margin of 21.8%. Diluted earnings per share were $2.07.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
|---|---|---|
| Revenue |
1,986
-6.3%
|
2,120
|
| Cost of revenue |
313
-16.8%
|
376
|
| Gross profit |
1,673
-4.1%
|
1,744
|
| Operating income |
—
|
1,091
|
| Pretax income |
497
+18.9%
|
418
|
| Income tax |
64
-37.3%
|
102
|
| Net income |
433
+37.0%
|
316
|
| Basic EPS |
2.08
+36.8%
|
1.52
|
| Diluted EPS |
2.07
+36.2%
|
1.52
|
| Weighted average shares, basic |
208
+0.3%
|
208
|
| Weighted average shares, diluted |
209
+0.3%
|
208
|
| Other measures | ||
| Depreciation and amortization |
247
+0.4%
|
246
|
| EBITDA |
—
|
1,337
|
| Interest coverage |
—
|
2.81x
|
| Margins | ||
| Gross margin |
84.24%
|
82.26%
|
| Operating margin |
—
|
51.46%
|
| Pretax margin |
25.03%
|
19.72%
|
| Profit margin |
21.80%
|
14.91%
|
| EBITDA margin |
—
|
63.07%
|
| Effective tax rate |
12.88%
|
24.40%
|
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 per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
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.