South Bow (SOBO) Gross Margin (2024 - 2026)

South Bow's Gross Margin history runs 3 years deep, the most recent figure standing at 84.93% for Q1 2026.

• In Q1 2026, Gross Margin rose 180.0% year-over-year to 84.93%; the TTM figure through Mar 2026 stood at 84.69% (up 301.0% YoY), while the FY2025 annual figure was 84.24%, up 198.0% from the prior year.
• Gross Margin was 84.93% for Q1 2026 at South Bow, down from 86.08% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 86.08% in Q4 2025 to a low of 80.94% in Q4 2024.
• Historically, Gross Margin has averaged 83.41% across 3 years, with a median of 83.13% in 2025.
• Biggest YoY gain for Gross Margin was 514 bps in 2025; the steepest drop was 216 bps in 2025.
• A 3-year view of Gross Margin shows it 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.
• The last three Gross Margin figures came in at 84.93% (Q1 2026), 86.08% (Q4 2025), and 82.65% (Q3 2025), per Business Quant data.