profit from every $100 of sales.
$0$100
South Bow
$32.23+3.70% today
+20.9% in 1 year
1-year low $26.081-year high $38.67
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2023 to 2025.
0%20% a year
You pay $15.53 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What South Bow sold, what it kept, and what it did with the cash.
Sales went from $2.01 billion in 2023 to $1.99 billion in 2025, with $433 million of profit last year.
SalesProfit
South Bow handed back 77% of the cash it generated last year.
$416M
Free cash flow 2025$539M
Bought back its own shares–
Paid as dividends$416M
Cash vs. debt$549M vs. $5.8B
South Bow vs. similar companies
South Bow grows the slowest of these 5 and is priced in the middle for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| South Bow | 15.5× · Fair price | ||
 Enbridge | 19.9× · Fair price | ||
 The Williams Companies | 31.7× · Expensive | ||
 Enterprise Products Partners L.P. | 13.6× · Cheap | ||
 Kinder Morgan | 22.3× · Fair price |
AI analysis
An AI analyst reads South Bow's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2023 | 2024 | 2025 |
|---|---|---|---|
| 2,005 | 2,120 | 1,986 | |
| 1,410 | 1,498 | 1,426 | |
| 700 | 745 | 715 | |
| 1,026 | 1,052 | 1,075 | |
| 442 | 316 | 433 | |
| 2.13 | 1.52 | 1.52 | |
| 70.3% | 70.7% | 71.8% | |
| 34.9% | 35.1% | 36.0% | |
| 22.0% | 14.9% | 21.8% |
Balance sheet
| In millions of USD | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total assets | 12,032 | 11,329 | 11,193 |
| Cash | 262 | 397 | 549 |
| Total debt | 5,967 | 5,738 | 5,791 |
| Total liabilities | 9,192 | 8,719 | 8,484 |
| 2,840 | 2,610 | 2,709 | |
| 208 | 208 | 208 | |
| 7.0% | 7.6% | 7.7% | |
| 15.6% | 12.1% | 16.0% |
Cash flow
| In millions of USD | 2023 | 2024 | 2025 |
|---|---|---|---|
| 779 | 529 | 717 | |
| 37 | 122 | 178 | |
| 742 | 407 | 539 | |
| Dividends paid | – | 0 | 416 |
| – | – | – | |
| – | – | – |
Valuation
- 15.5×
- 18.0×
- –
- 2.9×
- 3.4×
- 12.5×
- 11.1×
- 8.0%
- 6.4%
- 5.3%
Profitability
- 71.8%
- 36.0%
- 21.8%
- 46.8%
- 4.8%
- 4.7%
- 15.9%
- 3.8%
- 5.5%
- –
Growth
- −0.5%
- −15.6%
- +41.5%
- –
- +0.1%
Financial health
- 6.1×
- 2.16
- 51.2%
- 1.6×
- 1.51
- 1.37
- 0.16
How it ranks in Energy
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 31%of 465
Top 12%of 462
Top 44%of 383
Bottom 47%of 457
Top 33%of 458
What analysts expect
- Average price target
- $29.00
- Range
- $24.00 – $33.00
- 2 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 7, 2026 | 0.44 | 0.46 | −4.3% |
| Mar 5, 2026 | 0.61 | 0.42 | +45.2% |
| Nov 13, 2025 | 0.47 | 0.38 | +23.7% |
| Aug 6, 2025 | 0.42 | 0.38 | +10.5% |
| May 15, 2025 | 0.47 | 0.42 | +11.9% |
| Mar 5, 2025 | 0.54 | 0.42 | +28.6% |
| Sep 30, 2024 | 0.29 | 0.36 | −18.7% |
| Aug 28, 2024 | 0.40 | – | – |
5.3%of the share price, paid each year
On $1,000 invested$53a year at today's yield, before tax
–per share
Raised1 yearin a row, in our data
Paid per share, each year
$0.50 in 2024 → $2.00 in 2025
How safe it looks
96.1% of its profit
Room to growStretchedMore than it earns: 77.2%
News
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Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
0/7Passes 0 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
55No pass
Benjamin Graham
52No pass
Philip Fisher
58No pass
Peter Lynch
24No pass
Joel Greenblatt
37No pass
Charlie Munger
55No pass
Terry Smith
57No pass
Questions about South Bow
Is South Bow a good stock to buy?
A business with weak numbers at a fair price. 0 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the South Bow AI analysis
What does South Bow do?
South Bow Corp.is an energy infrastructure company. It engages in the construction and operation of pipelines that transport crude oil and other liquids across Canada and the United States. The company was founded on December 15, 2023 and is headquartered in Calgary, Canada. It is in Oil & Gas Midstream, based in Calgary, AB, Canada.
Does South Bow pay a dividend?
Yes. At today's price the dividend is 5.3% a year, about 96% of its yearly profit. In 2025 it paid out $416 million in dividends.
Is South Bow stock halal?
No. South Bow does not pass our halal screen: its debt is 86% of its market value, at or above the 33% limit. How we check
How has South Bow stock done over the past year?
Up 20.9% over the past twelve months, to $32.23. It traded between $26.08 and $38.67 and is 16.7% below its high.
Who are South Bow's competitors?
The largest listed companies in the same industry are Enbridge, The Williams Companies, Enterprise Products Partners L.P. and Kinder Morgan. The peers table on this page compares their profit, growth and price with South Bow's.
Prices: daily closes to Nov 9, 2026. Fundamentals: company reports via invest-like data.