South Bow (SOBO) Cost of Revenue (2024 - 2026)

South Bow's Cost of Revenue history runs 3 years deep, the most recent figure standing at $74.0 million for Q1 2026.

• In Q1 2026, Cost of Revenue fell 11.9% year-over-year to $74.0 million; the TTM figure through Mar 2026 stood at $303.0 million (down 20.26% YoY), while the FY2025 annual figure was $313.0 million, down 16.76% from the prior year.
• Cost of Revenue was $74.0 million for Q1 2026 at South Bow, up from $70.0 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $105.0 million in Q2 2024 to a low of $70.0 million in Q4 2025.
• Historically, Cost of Revenue has averaged $84.8 million across 3 years, with a median of $80.0 million in 2024.
• Biggest YoY gain for Cost of Revenue was 5.0% in 2025; the steepest drop was 24.76% in 2025.
• A 3-year view of Cost of Revenue shows it stood at $93.0 million in 2024, then declined by 24.73% to $70.0 million in 2025, then rose by 5.71% to $74.0 million in 2026.
• The last three Cost of Revenue figures came in at $74.0 million (Q1 2026), $70.0 million (Q4 2025), and $80.0 million (Q3 2025), per Business Quant data.