South Bow (SOBO) Gross Margin (2024 - 2026)
South Bow's (SOBO) quarterly Gross Margin came in at 84.93% in Q1 2026, up 180.0% year-on-year from 30.33% in Q1 2025, and down 1.34% quarter-over-quarter from 86.08% in Q4 2025.
South Bow (SOBO) Gross Margin (2024 - 2026) Analysis & Trends
South Bow's Gross Margin history runs 3 years deep, the most recent figure standing at 84.93% for Q1 2026.
- On a quarterly basis, Gross Margin rose 180.0% year-over-year to 84.93% in Q1 2026; TTM through Mar 2026 was 84.69%, a 301.0% increase from a year earlier, with the FY2025 full-year figure at 84.24%, up 198.0% from the prior year.
- Gross Margin retreated to 84.93% in Q1 2026 per SOBO's latest filing, from 86.08% in the prior quarter.
- Across five years, Gross Margin topped out at 86.08% in Q4 2025 and bottomed at 80.94% in Q4 2024.
- The 3-year median for Gross Margin is 83.13% (2025), against an average of 83.41%.
- Biggest YoY gain for Gross Margin was 514 bps in 2025; the steepest drop was 216 bps in 2025.
- Year by year, Gross Margin stood at 80.94% in 2024, then rose by 6 bps to 86.08% in 2025, then retreated by 1 bps to 84.93% in 2026.
- Per Business Quant, the three latest SOBO Gross Margin figures stand at 84.93% (Q1 2026), 86.08% (Q4 2025), and 82.65% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 89.73% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 76.80% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 68.62% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 41.12% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | - |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 97.17% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 23.85% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 41.52% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 93.41% |
| 10 | South Bow | 8.06 Bn | 7.46 Bn | 417.00 Mn | 84.93% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 84.93% |
| Dec 31, 2025 | 86.08% |
| Sep 30, 2025 | 82.65% |
| Jun 30, 2025 | 84.92% |
| Mar 31, 2025 | 83.13% |
| Dec 31, 2024 | 80.94% |
| Sep 30, 2024 | 81.65% |
| Jun 30, 2024 | 81.05% |
| Mar 31, 2024 | 85.29% |