Companies: 10,795·Total market cap: $144.5T
South Bow Corporation

South Bow Corporation

SOBO.TOTSXEnergy● Active
$51.37
$-0.60(-1.15%)
Market Cap$10.7B
P/E Ratio—
52W High$53.03
52W Low$34.36
Free Cash FlowFinancialsRevenue

South Bow Corporation (SOBO.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

SOBO.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

Free cash flow was $548.4M for FY2025 (fiscal year ending 2025-12-31), up 34.8% year-over-year The FCF margin was 34.0%.

FY2025 Free Cash Flow$548.4M▲ +34.8% YoY
Trailing 12M (TTM)$721.9Mtrailing 4 quarters sum
FCF Margin34.0%$548.4M ÷ revenue
3-Year CAGRN/AN/A — contains negative FCF
5-Year CAGRN/AN/A — contains negative FCF
FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0
Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

Positive FCFNegative FCF
Free Cash Flow
YoY Growth %
sobo.to free cash flow history · sobo.to free cash flow chart · sobo.to free cash flow growth rate · sobo.to free cash flow last 10 years

Annual free cash flow data

Fiscal YearFree Cash FlowYoY ChangeFCF Margin
FY2025Latest$548.4M▲ +34.8%34.0%
FY2024$407.0M▼ 58.6%19.2%
FY2023$983.5M—37.0%
FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP
sobo.to free cash flow 2025 · sobo.to free cash flow 2024 · sobo.to free cash flow 2023 · sobo.to operating cash flow

FCF valuation metrics

South Bow Corporation (SOBO.TO) trades at a FCF yield of 9.39% and a price-to-free-cash-flow ratio of 14.8x. FCF per share stands at $3.47, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)
9.39%
Free Cash Flow ÷ Market Cap
per FMP freeCashFlowYieldTTM definition
FCF per Share (TTM)
$3.47
TTM FCF ÷ Shares Outstanding
Price / FCF
x14.8
Share Price ÷ FCF per Share
EV / FCF (TTM)
x17.8
Enterprise Value basis
Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31
sobo.to price to free cash flow · sobo.to free cash flow yield · sobo.to free cash flow per share · sobo.to price to cash flow ratio

Cash flow statement summary

For FY2025, South Bow Corporation generated $729.6M in operating cash flow and spent 181M in capital expenditures, yielding $548.4M in free cash flow.

Operating Activities
+$729.6M
Cash from core business operations
2025-12-31
Investing Activities
−$178.1M
CapEx, acquisitions & investments
2025-12-31
Financing Activities
−$418.2M
Buybacks, dividends & debt
2025-12-31
FCF FormulaOperating CF ($729.6M) − |CapEx| (181M) = FCF ($548.4M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →
sobo.to cash flow statement · sobo.to cash flow statement 2025 · sobo.to operating cash flow · sobo.to cash flow from operations

Free cash flow vs peers (Energy)

#CompanyFree Cash FlowYoY
#1
South Bow Corporation
South Bow CorporationYOU
SOBO.TO
$548.4M+34.8%
#2
Exxon Mobil Corporation
Exxon Mobil Corporation
XOM
$23.61B-23.1%#3
Shell plc
Shell plc
SHEL
$21.82B-37.8%#4
Chevron Corporation
Chevron Corporation
CVX
$16.59B+10.3%#5
TotalEnergies SE
TotalEnergies SE
TTE
$10.81B-32.2%#6
Enbridge Inc.
Enbridge Inc.
ENB.TO
$3.98B-29.8%
Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

South Bow Corporation (SOBO.TO) reported free cash flow of $548.4M for FY2025 (fiscal year ending 2025-12-31), up 34.8% year-over-year. The FCF margin was 34.0%.

Based on available data, South Bow Corporation has maintained positive free cash flow for at least 3 fiscal year(s). FCF peaked at $983.5M in FY2023.

South Bow Corporation's FCF yield is 9.39% and price-to-FCF ratio is 14.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.
RevenueFinancial statementsNet incomeEarningsForecastPrice historyMarket capCash on handP/E ratio

Frequently asked questions

SOBO.TO free cash flow · 8 questions

South Bow Corporation free cash flow was $548.4M for FY2025, up 34.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $721.9M.

SOBO.TO free cash flowSOBO.TO FCFSOBO.TO FCF 2025SOBO.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · South Bow Corporation · South Bow Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026