South Bow Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023
Period Ending	Apr '26 Apr 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Market Cap	9,654	7,860	7,058	-
Market Cap Growth	22.18%	11.37%	-	-
Enterprise Value	16,846	15,024	14,691	0
Last Close Price	46.21	37.75	33.93	-
PE Ratio	16.31	13.29	15.55	-
Forward PE	19.23	16.67	14.13	-
PEG Ratio	64.11	33.34	7.06	-
PS Ratio	3.55	2.88	2.32	-
PB Ratio	2.60	2.11	1.88	-
P/TBV Ratio	3.56	2.91	2.71	-
P/FCF Ratio	13.06	10.63	12.08	-
P/OCF Ratio	9.82	7.99	9.30	-
EV/Sales Ratio	6.19	5.51	4.83	-
EV/EBITDA Ratio	11.88	11.38	10.33	-
EV/EBIT Ratio	15.83	15.31	13.74	-
EV/FCF Ratio	22.79	20.31	25.15	-
Debt / Equity Ratio	2.13	2.13	2.19	2.10
Debt / EBITDA Ratio	6.00	6.00	5.77	6.32
Debt / FCF Ratio	10.70	10.70	14.04	8.04
Net Debt / Equity Ratio	1.93	1.93	2.04	2.01
Net Debt / EBITDA Ratio	5.43	5.43	5.37	6.04
Net Debt / FCF Ratio	9.68	9.68	13.07	7.69
Asset Turnover	0.18	0.18	0.18	0.17
Inventory Turnover	2.04	2.04	2.05	2.19
Quick Ratio	1.24	1.24	0.94	0.80
Current Ratio	1.50	1.50	1.25	1.26
Return on Equity (ROE)	16.28%	16.28%	11.60%	15.56%
Return on Assets (ROA)	5.53%	5.53%	4.82%	4.58%
Return on Invested Capital (ROIC)	6.67%	6.67%	5.94%	5.68%
Return on Capital Employed (ROCE)	7.36%	7.36%	7.63%	7.03%
Earnings Yield	6.15%	7.53%	6.43%	-
FCF Yield	7.66%	9.41%	8.28%	-
Dividend Yield	5.98%	7.27%	2.47%	-
Payout Ratio	96.07%	96.07%	38.29%	42.99%
Buyback Yield / Dilution	-0.29%	-0.29%	-0.10%	-
Total Shareholder Return	5.69%	6.98%	2.37%	-

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.