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	Jul '26 Jul 20, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Market Capitalization	11,057	7,861	7,041	-
Market Cap Growth	46.21%	11.66%	-	-
Enterprise Value	18,283	15,209	20,327	-
Last Close Price	53.01	36.68	30.60	-
PE Ratio	18.80	13.24	15.49	-
Forward PE	21.17	16.67	14.13	-
PS Ratio	4.00	2.89	2.31	-
PB Ratio	2.98	2.12	1.88	-
P/TBV Ratio	2.98	2.12	1.88	-
P/FCF Ratio	13.09	10.64	12.02	-
P/OCF Ratio	10.18	8.00	9.25	-
PEG Ratio	-	33.34	7.06	-
EV/Sales Ratio	6.62	5.59	6.66	-
EV/EBITDA Ratio	12.87	11.42	13.85	-
EV/EBIT Ratio	17.33	15.32	18.25	-
EV/FCF Ratio	21.65	20.58	34.71	-
Debt / Equity Ratio	2.17	2.14	2.20	2.10
Debt / EBITDA Ratio	5.98	5.90	5.61	6.31
Debt / FCF Ratio	9.55	10.75	14.10	8.05
Net Debt / Equity Ratio	1.95	1.94	2.05	2.01
Net Debt / EBITDA Ratio	5.43	5.40	5.24	6.05
Net Debt / FCF Ratio	8.56	9.73	13.12	7.70
Asset Turnover	0.18	0.18	0.18	-
Inventory Turnover	6.11	6.59	5.90	-
Quick Ratio	1.09	1.29	0.94	0.87
Current Ratio	1.51	1.50	1.25	1.26
Return on Equity (ROE)	16.04%	16.28%	11.60%	-
Return on Assets (ROA)	3.93%	4.02%	4.14%	-
Return on Invested Capital (ROIC)	7.79%	7.93%	7.09%	6.44%
Return on Capital Employed (ROCE)	7.20%	7.30%	8.10%	7.00%
Earnings Yield	5.33%	7.55%	6.46%	-
FCF Yield	7.64%	9.40%	8.32%	-
Dividend Yield	5.29%	7.48%	2.35%	-
Payout Ratio	98.58%	96.07%	38.29%	42.99%
Buyback Yield / Dilution	-0.13%	-0.29%	-0.29%	-
Total Shareholder Return	5.15%	7.19%	2.06%	-