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	Jun '26 Jun 8, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Market Cap	10,548	7,860	7,058	-
Market Cap Growth	38.41%	11.37%	-	-
Enterprise Value	17,774	15,024	14,691	0
Last Close Price	50.57	37.75	33.93	-
PE Ratio	17.93	13.29	15.55	-
Forward PE	20.12	16.67	14.13	-
PEG Ratio	-	8.02	7.06	-
PS Ratio	3.82	2.88	2.32	-
PB Ratio	2.84	2.11	1.88	-
P/TBV Ratio	3.97	2.91	2.71	-
P/FCF Ratio	12.49	10.63	12.08	-
P/OCF Ratio	9.71	7.99	9.30	-
EV/Sales Ratio	6.43	5.51	4.83	-
EV/EBITDA Ratio	12.51	11.38	10.33	-
EV/EBIT Ratio	16.84	15.31	13.74	-
EV/FCF Ratio	21.05	20.31	25.15	-
Debt / Equity Ratio	2.16	2.13	2.19	2.10
Debt / EBITDA Ratio	6.08	6.00	5.77	6.32
Debt / FCF Ratio	9.51	10.70	14.04	8.04
Net Debt / Equity Ratio	1.94	1.93	2.04	2.01
Net Debt / EBITDA Ratio	5.45	5.43	5.37	6.04
Net Debt / FCF Ratio	8.52	9.68	13.07	7.69
Asset Turnover	0.18	0.18	0.18	0.17
Inventory Turnover	2.08	2.04	2.05	2.19
Quick Ratio	1.09	1.24	0.94	0.80
Current Ratio	1.51	1.50	1.25	1.26
Return on Equity (ROE)	15.72%	16.28%	11.60%	15.56%
Return on Assets (ROA)	5.43%	5.53%	4.82%	4.58%
Return on Invested Capital (ROIC)	6.51%	6.67%	5.94%	5.68%
Return on Capital Employed (ROCE)	7.09%	7.36%	7.63%	7.03%
Earnings Yield	5.58%	7.53%	6.43%	-
FCF Yield	8.01%	9.41%	8.28%	-
Dividend Yield	5.42%	7.27%	2.47%	-
Payout Ratio	97.89%	96.07%	38.29%	42.99%
Buyback Yield / Dilution	-0.13%	-0.29%	-0.10%	-
Total Shareholder Return	5.29%	6.98%	2.37%	-