South Bow (SOBO) Gross Margin (2024 - 2026)
South Bow's Gross Margin came in at 80.91% for Q3 2026, down 1.73 percentage points from 82.65% a year earlier and down 7.91 percentage points from the prior quarter.
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Analysis
South Bow (SOBO) Gross Margin (2024 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, South Bow reported Gross Margin of 85.27%, up 2.31 percentage points year-over-year; for FY2025, it was 84.24%, up 1.98 percentage points from FY2024.
- Going back by year, Gross Margin was 82.26% in FY2024 (-0.23 pp) and 82.49% in FY2023.
- The Q3 2026 figure represents the lowest quarterly Gross Margin in data going back to Q1 2024.
- Year-over-year, Gross Margin increased in five of the last seven quarters, with an average year-over-year change of +1.69 percentage points.
- Business Quant data shows SOBO's Gross Margin at 88.83% (Q2 2026), 84.93% (Q1 2026) and 86.08% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.29 Bn | 97.89 Bn | 4.84 Bn | 22.85% |
| 2 | Enterprise Products Partners | 79.85 Bn | 78.21 Bn | - | - |
| 3 | Williams Companies | 79.33 Bn | 76.36 Bn | 2.59 Bn | 80.39% |
| 4 | Kinder Morgan | 66.78 Bn | 65.63 Bn | 2.97 Bn | 65.44% |
| 5 | Energy Transfer | 65.10 Bn | 60.93 Bn | 6.57 Bn | 17.71% |
| 6 | Tc Energy | 64.42 Bn | 61.18 Bn | - | - |
| 7 | Cheniere Energy | 58.11 Bn | 52.26 Bn | 2.97 Bn | 48.05% |
| 8 | Targa Resources | 56.77 Bn | 56.23 Bn | 2.02 Bn | 36.08% |
| 9 | Mplx | 56.70 Bn | 50.73 Bn | 3.19 Bn | 88.60% |
| 10 | South Bow | 6.47 Bn | 4.03 Bn | 407.00 Mn | 80.91% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 80.91% |
| Jun 30, 2026 | 88.83% |
| 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% |
API Access
South Bow Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=SOBO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "SOBO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=SOBO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();