South Bow (SOBO) Gross Margin (2024 - 2026)
South Bow (SOBO) posted Gross Margin of 84.93% for Q1 2026, down 1.34% on a QoQ basis from 86.08% in Q4 2025, and up 180.0% year-on-year from 30.33% in Q1 2025.
South Bow (SOBO) Gross Margin (2024 - 2026) Analysis & Trends
South Bow has disclosed Gross Margin across 3 years of filings, most recently posting 84.93% for Q1 2026.
- Gross Margin for Q1 2026 came in at 84.93%, up 180.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 84.69% (up 301.0% YoY), and the FY2025 annual result was 84.24%, up 198.0% from the prior year.
- Gross Margin came in at 84.93% for Q1 2026 at South Bow, down from 86.08% in the prior quarter.
- Over the last five years, Gross Margin for SOBO reached as high as 86.08% in Q4 2025 and fell as low as 80.94% in Q4 2024.
- Median Gross Margin over the past 3 years was 83.13% (2025), compared with a mean of 83.41%.
- On a YoY basis, Gross Margin climbed as much as 514 bps in 2025 and fell as far as 216 bps in 2025.
- Over 3 years, 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 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 41.12% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 63.77% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | - |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 23.85% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 41.52% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 83.61% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 26.67% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 23.28% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 94.13% |
| 10 | South Bow | - | - | 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% |