South Bow Corporation (SOBO) is a publicly traded company in the Energy — Oil & Gas Midstream industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
South Bow Corporation (SOBO) operates within the energy infrastructure sector, specializing in the creation and ongoing management of pipeline networks. These vital systems are responsible for conveying crude oil and various other liquid hydrocarbons across extensive regions of both Canada and the United States. The company was established on December 15, 2023, and its primary corporate base is located in Calgary, Canada.
Is South Bow Corporation stock overvalued or undervalued in 2026?
South Bow Corporation (SOBO) trades at 20.6× earnings (P/E), above the median of the 140 energy companies over $2bn in Kaplio's universe. At its sector median (17.3×) $30 (-16 %).
Kaplio overview: South Bow Corporation
Market cap $7B · 52 weeks $25 – $39 (8 % below the high) · P/E 20.6× · 2027 expected P/E 18.8× · Dividend 5.6 % · Next earnings November 4, 2026 · expected EPS $0.43 · Closing price, Oct 28 · accounts published Aug 5.
- Valuation: P/E 20.6× (fairly priced).
- Business: 5-year ROIC 4.7 % (weak).
- Balance sheet: Net debt/EBITDA 4.8× (fragile).
- Earnings: 6 of 8 (on track).
What would it be worth at its usual multiples?
At its sector median (17.3×) $30 (-16 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
P/E calculated by Kaplio with 12-month GAAP earnings; the data provider reports 16.0×.
What matters in energy: 3 of 5 pass
- 5y avg ROIC 4.7 %, fails.
- Net debt / EBITDA 4.8×, fails.
- FCF yield 9.8 %, passes.
- Dividend coverage (FCF / div) 1.3×, passes, near the threshold.
- Capex / Revenue 11.2 %, passes.
- P/E read in reverse (cyclicals) 20.6×, info.
Against its peers (reference peers) — South Bow Corporation: P/E 20.6×; EV/EBITDA 13.7×; ROIC 5.2 %; $7.4B. Hess Midstream LP (P/E 10.6×; EV/EBITDA 8.3×; ROIC 20.8 %; $6.3B), Antero Midstream Corporation (P/E 24.7×; EV/EBITDA 14.0×; ROIC 8.6 %; $9.8B), Plains GP Holdings LP (P/E 10.0×; EV/EBITDA 4.9×; ROIC 5.3 %; $5.5B).
Dividend
tight · Yield 5.6 % ($2.03 per ADS in 2025) · paying since 2025 · Free cash flow coverage 1.3× · With $1,000 invested today you'd collect $56.20 a year ($4.68 a month).
Profitability
| Return on Equity | 17.36% |
| Return on Invested Capital | 5.24% |
| Return on Assets | 4.06% |
| Gross Margin | 55.52% |
| Operating Margin | 30.94% |
| Net Margin | 24.12% |
Financial Health
| Debt / Equity | 2.15 |
| Current Ratio | 1.52 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.86 |
Price Performance
| 1 month | +6.76% |
| 3 months | -4.29% |
| Year-to-date | +29.27% |
| 1 year | +36.52% |
Dividend History
Paid in the last 12 months: $2.0000 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-09-29 | $0.5000 |
| 2026-06-30 | $0.5000 |
| 2026-03-31 | $0.5000 |
| 2025-12-31 | $0.5000 |
| 2025-09-29 | $0.5000 |
| 2025-06-30 | $0.5000 |
| 2025-03-31 | $0.5000 |
| 2024-12-31 | $0.5000 |
Amounts adjusted for stock splits.
Related companies: ENB.TO · TRP.TO · PPL.TO · KEY.TO · GEI.TO
Explore sector: Energy · Oil & Gas Midstream
More sections of SOBO: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
Discover more: Weekly Radar: the S&P 500 through the Buffett and Lynch methods · Companies that pass the Buffett method today · Companies that pass the Lynch method today · Stocks that pass Graham's defensive investor test today · Investment Academy — learn to analyze stocks