SOBO · XBRL financial data
South Bow financial statements, every fiscal year
The same tables from 2 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (SOBO's year ends in late December)
| In millions of dollars | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|
| Revenue | 2,120 | 1,986 |
| Cost of goods and services sold | 376 | 313 |
| Operating income (loss) | 1,091 | — |
| Interest expense | 388 | 331 |
| Other income (expense) | 12 | 41 |
| Income tax expense (benefit) | 102 | 64 |
| Earnings per share, basic USD per share | 1.52 | 2.08 |
| Earnings per share, diluted USD per share | 1.52 | 2.07 |
| Weighted average shares, basic millions of shares | 208 | 208 |
| Weighted average shares, diluted millions of shares | 208 | 209 |
Balance sheet
CSVFiscal years (SOBO's year ends in late December)
| In millions of dollars | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|
| Cash and cash equivalents | 397 | 549 |
| Accounts receivable | 1,190 | 1,107 |
| Inventory | 207 | 100 |
| Total current assets | 2,198 | 2,015 |
| Property and equipment, net | 8,206 | 8,210 |
| Right-of-use asset | 22 | 18 |
| Total assets | 11,329 | 11,193 |
| Total current liabilities | 1,761 | 1,341 |
| Lease liability, non-current | 22 | 23 |
| Total liabilities | 8,719 | 8,484 |
| Accumulated deficit | (49) | (32) |
| Total liabilities and equity | 11,329 | 11,193 |
| Common shares outstanding (cover page) millions of shares | 208 | 208 |
Cash flows
CSVFiscal years (SOBO's year ends in late December)
| In millions of dollars | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|
| Depreciation and amortization | 246 | 247 |
| Net cash from operating activities | 529 | 717 |
| Net cash from investing activities | (80) | (175) |
| Proceeds from issuing common stock | 9 | 5 |
| Dividends paid | 0 | 416 |
| Repayments of long-term debt | 4,722 | 0 |
| Net cash from financing activities | (307) | (411) |
| Net change in cash | 135 | 152 |
Compare with peers
SIC 4610 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 4610 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “year only” links to a 10-K that gives only the full year: without all three earlier quarters there is no fourth quarter to work out, and the year total is never shown as a quarter.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Quarter |
|---|---|---|---|---|---|
| South Bow | 549 | year only | year only | 208.3M | 40-FDec 31, 2025 |
| HF Sinclair | 3,333 | 10,857 | 1,784* | 171.4M | 10-QSep 30, 2026 |
| Delek Logistics Partners | 14 | 385 | 71* | 53.2M | 10-QJun 30, 2026 |
| Enbridge | 2,012 | 29,318 | 4,111* | 2.2B | 10-QJun 30, 2026 |
| Genesis Energy | 39 | 532 | 181* | not reported | 10-QJun 30, 2026 |
| MPLX | 1,297 | 2,788 | 1,477* | 1.0B | 10-QSep 30, 2026 |
| Plains All American Pipeline | 1,059 | 17,693 | 955* | 705.6M | 10-QJun 30, 2026 |
| Plains GP Holdings | 1,060 | 17,693 | 952* | 197.9M | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.