South Bow Corporation (SOBO) Key Metrics
SOBO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $7.24B
- Enterprise value
- $12.19B
- P/E (TTM)
- 15.8
- Forward P/E
- 17.5
- PEG ratio
- —
- Price / sales
- 3.6
- Price / book
- 2.7
- EV / EBITDA
- 10.9
- Dividend yield
- 5.77% $2.00 a year
- Beta
- 0.99
SOBO key metrics, 2023–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSOBO valuation Price multiples at each fiscal year-end price.
SOBO returns How much profit the business earns on the capital it uses.
SOBO per-share figures Results divided by the shares outstanding at year-end.
SOBO financial health Debt, liquidity and how easily interest is covered.
SOBO efficiency & capital use Working capital cycle and where the cash goes.
SOBO valuation history
SOBO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SOBO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SOBO cash returned to shareholders
SOBO price vs earnings per share
SOBO key metrics
2023–2025| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Valuation | |||
| Market capitalization | $5.72B | $4.91B | — |
| Enterprise value | $10.93B | $10.23B | — |
| P/E ratio | 13.2 | 15.5 | — |
| Price / sales | 2.9 | 2.3 | — |
| Price / book | 2.1 | 1.9 | — |
| Price / free cash flow | 10.4 | 12.7 | — |
| Price / operating cash flow | 7.8 | 9.7 | — |
| EV / sales | 5.5 | 4.8 | — |
| EV / EBITDA | 10.2 | 9.7 | — |
| EV / free cash flow | 19.9 | 26.4 | — |
| Earnings yield | 7.6% | 6.4% | — |
| Free cash flow yield | 9.6% | 7.9% | — |
| Dividend yield | 7.4% | 2.5% | — |
| Shareholder yield (dividends + buybacks) | 7.4% | 2.5% | — |
| Share price at fiscal year-end | $27.47 | $23.57 | — |
| Per share | |||
| Revenue per share | $9.54 | $10.18 | $12.80 |
| Earnings per share | $2.08 | $1.52 | $2.82 |
| Operating cash flow per share | $3.50 | $2.42 | $4.97 |
| Free cash flow per share | $2.63 | $1.86 | $4.74 |
| Cash per share | $2.76 | $1.91 | $1.67 |
| Book value per share | $12.99 | $12.54 | $18.13 |
| Tangible book value per share | $12.99 | $12.54 | $18.13 |
| Dividends per share | $2.03 | $0.58 | — |
| Capex per share | $0.87 | $0.56 | $0.24 |
| Debt per share | $27.76 | $27.45 | $38.14 |
| Shares outstanding | 208.2M | 208.2M | 207.6M |
| Change in shares outstanding | 0.0% | +0.3% | — |
| Returns & profitability | |||
| Return on equity (ROE) | 16.3% | 9.9% | 15.6% |
| Return on invested capital (ROIC) | 7.9% | 5.8% | 6.4% |
| Return on assets (ROA) | 3.8% | 2.3% | 3.7% |
| Return on tangible assets | 3.9% | 2.8% | 3.7% |
| Free cash flow margin | 27.6% | 18.3% | 37.0% |
| Income quality (OCF / net income) | 1.68 | 1.59 | 1.76 |
| Financial health | |||
| Total debt | $5.78B | $5.72B | $7.92B |
| Cash & short-term investments | $574.0M | $397.0M | $347.3M |
| Net debt | $5.21B | $5.32B | $7.57B |
| Debt / equity | 2.14 | 2.19 | 2.10 |
| Debt / assets | 0.52 | 0.50 | 0.50 |
| Net debt / EBITDA | 4.84 | 5.06 | 5.57 |
| Current ratio | 1.50 | 1.25 | 1.26 |
| Quick ratio | 1.43 | 1.13 | 1.18 |
| Interest coverage | 2.2 | 1.9 | 3.2 |
| Working capital | $672.8M | $437.0M | $714.4M |
| Invested capital | $7.91B | $7.93B | $11.33B |
| Tangible asset value | $2.70B | $2.61B | $3.76B |
| Net current asset value | −$6.46B | −$6.52B | −$8.72B |
| Graham number | $24.65 | $20.69 | $33.93 |
| Graham net-net per share | −$33.44 | −$34.96 | −$49.78 |
| Capital allocation | |||
| Dividends paid | $423.3M | $121.0M | — |
| Dividend payout ratio | 97.8% | 38.3% | — |
| Dividends + buybacks / free cash flow | 77.2% | 31.2% | — |
| Capex / revenue | 9.1% | 5.5% | 1.8% |
| Capex / operating cash flow | 24.8% | 23.1% | 4.7% |
| Capex / depreciation | 0.72 | 0.47 | 0.15 |
| Efficiency | |||
| Days sales outstanding | 223.4 | 268.1 | 255.6 |
| Days of inventory on hand | 100.0 | 123.0 | 166.4 |
| Days payables outstanding | 748.5 | 931.0 | 1,278.0 |
| Cash conversion cycle (days) | -425.1 | -540.0 | -856.0 |
| Receivables turnover | 1.63 | 1.36 | 1.43 |
| Payables turnover | 0.49 | 0.39 | 0.29 |
| Inventory turnover | 3.65 | 2.97 | 2.19 |
| Asset turnover | 0.18 | 0.16 | 0.17 |
| Average receivables | $1.22B | $1.56B | $1.86B |
| Average payables | $1.15B | $1.59B | $1.63B |
| Average inventory | $153.4M | $209.5M | $212.1M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% |
Computed from SOBO's annual financial statements (latest annual report filed March 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SOBO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), South Bow traded at 13.2 times earnings. Based on the latest twelve months, the trailing P/E is 15.8 and the forward P/E is 17.5. South Bow earned a return on equity of 16.3% and a return on invested capital of 7.9% in fiscal 2025. It ended the year with $5.8 billion of debt and $574.0 million in cash and short-term investments, net debt of $5.2 billion. It returned $423.3 million to shareholders: $423.3 million in dividends and $0 in share buybacks, 77% of free cash flow.
See the SOBO income statement, the SOBO chart for price history, or the SOBO stock overview for the latest quote and news.
SOBO key metrics FAQ
What is South Bow's P/E ratio?
South Bow's trailing P/E ratio is 15.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 17.5. At the end of fiscal 2025 it was 13.2.
What is South Bow's EV/EBITDA?
South Bow's enterprise value was 10.2 times EBITDA at the end of fiscal 2025 (enterprise value $10.9 billion, EBITDA $1.1 billion); the current EV/EBITDA is 10.9.
What is South Bow's return on equity?
South Bow's return on equity (ROE) was 16.3% in fiscal 2025: net income of $433.0 million on average shareholders' equity of $2.7 billion.
What is South Bow's ROIC?
South Bow's return on invested capital was 7.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does South Bow have?
South Bow had total debt of $5.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.14 and $5.2 billion of net debt (4.84 times EBITDA).
What is South Bow's dividend yield?
South Bow's forward dividend yield is 5.77%. South Bow paid $423.3 million in dividends in fiscal 2025 ($2.03 per share), a payout ratio of 97.8%.
What is South Bow's free cash flow yield?
South Bow generated $548.4 million of free cash flow in fiscal 2025, a free cash flow yield of 9.6% on its market value at year-end ($5.7 billion).
What is South Bow's current ratio?
South Bow's current ratio was 1.50 at the end of fiscal 2025: current assets were 1.50 times current liabilities.