South Bow Corporation (SOBO)

NYSE: SOBO · Real-Time Price · USD

33.09

+0.31 (0.95%)

Nov 11, 2026, 4:00 PM EST - Market closed

South Bow Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	466	433	316	442
Depreciation & Amortization	249	247	246	244
Asset Writedown & Restructuring Costs	-	-	7	-
Loss (Gain) on Equity Investments	11	22	21	21
Other Operating Activities	32	50	1	106
Change in Accounts Receivable	83	83	101	-251
Change in Inventory	107	107	-50	63
Change in Accounts Payable	-203	-203	-81	-120
Change in Other Net Operating Assets	171	-22	-32	274
Operating Cash Flow	916	717	529	779
Operating Cash Flow Growth	90.44%	35.54%	-32.09%	-

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Capital Expenditures	-123	-178	-122	-37
Sale of Property, Plant & Equipment	1	-	38	93
Other Investing Activities	-	3	4	6
Investing Cash Flow	-122	-175	-80	62

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Long-Term Debt Issued	-	-	4,548	621
Long-Term Debt Repaid	-	-	-4,722	-971
Net Debt Issued (Repaid)	-314	-	-174	-350
Issuance of Common Stock	9	5	9	-
Common Dividends Paid	-416	-416	-121	-190
Other Financing Activities	-	-	-21	-37
Financing Cash Flow	-721	-411	-307	-577

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Foreign Exchange Rate Adjustments	-10	21	-7	-6
Net Cash Flow	63	152	135	258

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Free Cash Flow	793	539	407	742
Free Cash Flow Growth	136.72%	32.43%	-45.15%	-
Free Cash Flow Margin	38.81%	27.14%	19.20%	37.01%
Free Cash Flow Per Share	3.80	2.58	1.96	3.57
Levered Free Cash Flow	529.73	257.23	602.35	-
Unlevered Free Cash Flow	739.73	464.1	844.85	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash Interest Paid	330	342	-	-
Cash Income Tax Paid	30	38	49	34
Change in Working Capital	158	-35	-62	-34

SEC Filings: 10-K · 10-Q