South Bow Corporation

South Bow Corporation

SOBO · NYSE · Energy / Oil & Gas Midstream

33.32USD+0.03 (+0.09%)

Price History

Full chart

Market Stats

Previous Close33.29
Open33.56
Day Range33.24 – 33.64
52-Week Range23.88 – 39.02
Volume208.56K
Market Cap7.09B
P/E (TTM)15.46
Forward P/E17.48
EPS2.20
Dividend Yield5.88%
Beta0.80
50-Day Avg36.64
200-Day Avg33.60

About

South Bow Corporation operates as an energy infrastructure company. It operates through three segments: Keystone Pipeline System, Marketing, and Intra-Alberta & Other. The Keystone Pipeline System segment consists of the company's main liquids pipeline network, which transports crude oil from Hardisty, Alberta, to key U.S. markets including Wood River, Patoka, Illinois, Cushing, Oklahoma, and the Gulf Coast. The Marketing segment provides crude oil marketing services, including transportation, storage, and logistics, and engages in physical crude oil trading and hedging activities. The Intra-Alberta & Other segment comprises pipelines such as the Grand Rapids Pipeline and White Spruce Pipeline, offering crude oil transportation from Alberta's oil sands to refining and market regions, and includes corporate and financing activities. The company also operates 4,900 kilometres of crude oil pipeline infrastructure connecting Alberta crude oil supplies to the U.S. refining markets in the U.S. Midwest and Gulf Coast. In addition, the company offers ancillary services, including storage at terminals. The company was incorporated in 2023 and is based in Calgary, Canada.

Company Details

  • SectorEnergy
  • IndustryOil & Gas Midstream
  • CEOMr. Bevin Mark Wirzba M.B.A., P.Eng.
  • Employees0
  • Headquarters707 - 5 Street SW, Calgary, AB, Canada, T2P 1V8, USA
  • Websitehttps://www.southbow.com

Leadership

  • Mr. Bevin Mark Wirzba M.B.A., P.Eng.President, CEO & Director · b. 1972
  • Mr. P. Van R. Dafoe B.Com., B.Comm, C.M.A., CPASenior VP & CFO
  • Mr. Richard J. PriorSenior VP & COO
  • Ms. Lori M. MurattaSenior VP & General Counsel · b. 1965
  • Martha WilmotDirector of Investor Relations
  • Ms. Kate FischerAssociate General Counsel & Corporate Secretary

Financials

Income Statement

Currency: USD2023-12-312024-12-312025-12-31
Total Revenue2.66B2.12B1.61B
Growth (%)--20.23%-24.02%
Cost of Revenue465.25M622.00M1.30B
Gross Profit2.19B1.50B309.32M
Gross Margin82.49%70.66%19.20%
Operating Expense1.26B753.00M-8.14M
Operating Income927.84M745.00M317.46M
Operating Margin34.91%35.14%19.71%
EBITDA1.36B1.05B1.09B
EBITDA Margin51.17%49.62%67.91%
Net Income585.87M316.00M440.58M
Net Income Margin22.04%14.91%27.35%
Interest Expense291.61M388.00M336.79M
Interest Expense % of Total Revenue10.97%18.30%20.91%

Balance Sheet

Currency: USD2023-12-312024-12-312025-12-31
Total Assets15.95B11.33B11.17B
Total Liabilities12.18B8.72B8.47B
Total Equity3.76B2.61B2.70B
Cash347.28M397.00M573.95M
Total Debt7.92B5.72B5.78B
Net Debt7.57B5.32B5.21B

Cash Flow

Currency: USD2023-12-312024-12-312025-12-31
Operating Cash Flow1.03B503.60M729.55M
Investing Cash Flow82.18M-76.16M-178.06M
Financing Cash Flow-764.81M-292.26M-418.19M
Capital Expenditure49.04M116.14M181.12M
Free Cash Flow983.52M387.46M548.44M
Dividends Paid-121.00M423.28M
FCF to OCF95.25%76.94%75.17%
Dividend Paid to FCF-31.23%77.18%

Earnings

Report DateNov 27, 2024Mar 6, 2025May 15, 2025Aug 6, 2025Nov 13, 2025Mar 5, 2026May 7, 2026Aug 5, 2026Nov 12, 2026
EPS Estimate0.380.440.420.390.380.400.430.450.43
EPS Actual0.290.540.470.420.470.610.440.50-
Surprise-24.66%22.59%11.90%7.69%23.68%52.20%2.33%11.11%-
Timing--After-hoursAfter-hoursAfter-hours-After-hoursAfter-hours-

Key Statistics & Ratios

Market Cap7.09B
Enterprise Value12.19B
Trailing P/E15.46
Forward P/E17.48
Price / Sales3.55
Price / Book2.69
EPS2.20
Book Value12.78
Revenue (TTM)2.00B
Gross Profit (TTM)1.00B
EBITDA1.00B
Profit Margin22.99%
Operating Margin43.77%
Return on Equity17.35%
Return on Assets4.10%
Shares Outstanding208.59M
Shares Float207.99M
Beta0.80
Dividend Yield5.88%
Dividend Rate2.00
Payout Ratio99.01%

Ownership Breakdown

Institutions
65.90%
Insiders
0.07%
Retail / Other
34.03%

Top Institutional Holders

  • Royal Bank of Canada
    16.40M7.86%
  • FMR Inc
    9.67M4.64%
  • ClearBridge Advisors, LLC
    8.67M4.16%
  • BMO Capital Markets Corp.
    6.59M3.16%
  • Vanguard Capital Management, LLC
    5.97M2.86%
  • Bank of Montreal
    5.55M2.66%
  • T. Rowe Price Associates, Inc.
    5.24M2.51%
  • Thornburg Investment Management Inc
    3.63M1.74%
  • CIBC World Markets Inc.
    3.44M1.65%
  • Dimensional Fund Advisors, Inc.
    3.04M1.46%
  • Connor Clark & Lunn Inv Mgmt Ltd
    2.79M1.34%
  • MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
    2.23M1.07%
  • American Century Companies Inc
    2.13M1.02%

Top Fund Holders

  • Fidelity Series Canada
    5.35M2.57%
  • Fidelity Canadian Growth Company Sr B
    4.55M2.18%
  • Thornburg Investment Income Builder A
    3.42M1.64%
  • Vanguard Total Intl Stock Index Inv
    3.10M1.49%
  • RBC Canadian Dividend Fund A
    2.77M1.33%
  • Global X MLP & Energy Infrastructure ETF
    2.20M1.06%
  • FTF ClearBridge Global Infras Inc EBAcc
    2.17M1.04%

Dividends

20263×
0.50Sep 29, 20260.50Jun 30, 20260.50Mar 31, 2026
20254×
0.50Dec 31, 20250.50Sep 29, 20250.50Jun 30, 20250.50Mar 31, 2025
20241×
0.50Dec 31, 2024