3 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $2.0B | $433M | 84.2% | 0.0% | — | — | $549M |
| 2024 | $2.1B | $316M | 82.3% | 51.5% | $388M | — | $397M |
| 2023 | $2.0B | $442M | 82.5% | 53.6% | $732M | — | $262M |
How the market has priced SOBO against its own fundamentals since 2024-10 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 2 years, South Bow Corp's revenue has declined 0.5% per year, and net income declined 1.0% per year. These are computed facts, not advice.
As of FY2025, South Bow Corp reported — of total debt against $549M of cash.
In FY2025, gross margin was 84.2%, operating margin —, and net margin 21.8%.
As of Jun '26, South Bow Corp traded at a price-to-earnings ratio of about 17.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.