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Home CompaniesSouth Bow Corporation

South Bow Corporation

Energy Oil & Gas Midstream
PortfolioPortfolio WatchlistWatchlist
Company price
31.08 USD -0.53 ( 1.68%)
Last update at 2026-11-06T21:00:00Z
VOLUME
530849
Market Cap
7427.82M
P/E
16.26

Momentum Score

…

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.

Source: TradingView
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Day Price Range
31.00
Low
31.71
High
52 Week Price Range
23.88
Low
39.02
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High

Key Metrics*

Previous Close
31.61
Dividend Yield
5.60%
Revenue TTM
2001.00M
Revenue Per Share
9.60
Gross Profit TTM
1004.00M
Debt / Equity
2.14
ROE
17.35%
Net Debt
5206.51M
ROCE
8.57%
Diluted EPS TTM
2.19

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31
Type yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31
Income before tax 505.70M 418.00M 744.93M
Net income 440.58M 316.00M 585.87M
Gross profit 309.32M 1498.00M 2192.37M
Reconciled depreciation 247.00M 246.00M 244.00M
Ebit 842.49M 806.00M 1036.54M
Ebitda 1093.82M 1052.00M 1359.96M
Depreciation and amortization 251.32M 246.00M 323.42M
Operating income 317.46M 745.00M 927.84M
Other operating expenses 1293.25M 1375.00M 1729.77M
Interest expense 336.79M 388.00M 291.61M
Tax provision 64.00M 102.00M 120.00M
Interest income 41.00M 12.00M 32.00M
Net interest income -290.00M -376.00M -188.00M
Income tax expense 65.12M 102.00M 159.06M
Total revenue 1610.71M 2120.00M 2657.61M
Total operating expenses -8.14M 753.00M 1264.52M
Cost of revenue 1301.39M 622.00M 465.25M
Total other income expense net 188.24M -327.00M -182.92M
Net income from continuing ops 433.00M 316.00M 442.00M
Breakdown 2025-12-31 2024-12-31 2023-12-31
Type yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31
Total assets 11172.63M 11329.00M 15948.33M
Other current assets 159.71M 341.00M 1044.49M
Total liab 8468.56M 8719.00M 12183.93M
Total stockholder equity 2704.07M 2610.00M 3764.40M
Other current liab 569.96M 217.00M 1121.37M
Common stock 2196.99M 2196.00M 3934.06M
Capital stock 2201.00M 2196.00M 2968.00M
Retained earnings -31.94M -49.00M 0.00M
Other assets - 1.00M -12031.00M
Cash 573.95M 397.00M 347.28M
Total current liabilities 1338.56M 1761.00M 2750.40M
Current deferred revenue 15.97M 14.99M -
Net debt 5206.51M 5319.00M 7569.89M
Short long term debt total 5780.46M 5716.00M 7917.17M
Other stockholder equity 659.80M 661.00M -
Total current assets 2011.33M 2198.00M 3464.84M
Long term investments 743.00M 732.00M 813.00M
Net receivables 1177.85M 1253.00M 1860.99M
Long term debt 5768.00M 5716.00M 5967.00M
Inventory 99.82M 207.00M 212.08M
Accounts payable 752.63M 1544.00M 1629.03M
Accumulated other comprehensive income -120.78M -198.00M -169.66M
Non currrent assets other 73.87M 177.00M 234.61M
Non current assets total 9161.30M 9130.00M 12483.49M
Capital lease obligations 23.00M 22.00M -
Breakdown 2025-12-31 2024-12-31 2023-12-31
Type yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31
Investments - -80.00M 62.00M
Total cashflows from investing activities -178.06M -76.16M 82.18M
Net borrowings 0.00M -187.00M -350.00M
Total cash from financing activities -418.19M -292.26M -764.81M
Net income 440.58M 300.83M 585.87M
Change in cash 111.23M 132.42M 341.98M
Begin period cash flow 462.72M 330.30M 5.30M
End period cash flow 573.95M 462.72M 347.28M
Total cash from operating activities 729.55M 503.60M 1032.56M
Depreciation 251.32M 234.19M 323.42M
Other cashflows from investing activities 3.05M 3.81M 131.22M
Dividends paid 423.28M 121.00M -
Change to inventory 108.87M -47.60M 83.51M
Change to account receivables 84.45M 96.15M -332.70M
Other cashflows from financing activities - -122.81M -300.89M
Capital expenditures 181.12M 116.14M 49.04M
Change in working capital -35.61M -59.02M -45.07M
Other non cash items -8.14M -28.56M 79.53M
Free cash flow 548.44M 387.46M 983.52M

Peer Comparison*

Sector: Energy Industry: Oil & Gas Midstream

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
SOBO
South Bow Corporation		 -0.53
1.68%		 31.08 16.26 17.95 3.71 2.80 6.24 11.18
EBBNF
Enbridge Inc		 -
-%		 25.00 11.23 - 1.48 - - -
EPD
Enterprise Products Partners LP		 -
-%		 37.03 13.38 12.24 1.43 2.76 2.01 11.37
ENB
Enbridge Inc		 -1.22
2.54%		 46.89 32.07 17.33 1.67 1.73 2.98 10.28
ET
Energy Transfer LP		 -0.29
1.51%		 18.90 14.71 12.67 0.68 2.09 1.33 8.25

Profile*

South Bow Corporation

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.

707 - 5 Street SW, Calgary, AB, Canada, T2P 1V8

800 242 3447

https://www.southbow.com

Name Title Year Born
Mr. Bevin Mark Wirzba M.B.A., P.Eng. President, CEO & Director 1972
Mr. P. Van R. Dafoe B.Com., B.Comm, C.M.A., CPA Senior VP & CFO NA
Mr. Richard J. Prior Senior VP & COO NA
Ms. Lori M. Muratta Senior VP & General Counsel 1965
Martha Wilmot Director of Investor Relations NA
Ms. Kate Fischer Associate General Counsel & Corporate Secretary NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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