South Bow (SOBO) Invested Capital (2023 - 2025)

South Bow's Invested Capital history runs 3 years deep, the most recent figure standing at $2.7 billion for Q4 2025.

• In Q4 2025, Invested Capital fell 62.58% year-over-year to $2.7 billion; the TTM figure through Dec 2025 stood at $2.7 billion (down 62.58% YoY), while the FY2025 annual figure was $2.7 billion, down 62.58% from the prior year.
• Invested Capital was $2.7 billion for Q4 2025 at South Bow, down from $7.2 billion in the prior quarter.
• In the past five years, Invested Capital ranged from a high of $8.8 billion in Q4 2023 to a low of $2.7 billion in Q4 2025.
• Historically, Invested Capital has averaged $6.3 billion across 3 years, with a median of $7.2 billion in 2024.
• The sharpest annual moves came in 2024 and 2025: Invested Capital declined 17.8% in 2024, then slumped 62.58% in 2025.
• A 3-year view of Invested Capital shows it stood at $8.8 billion in 2023, then slipped by 17.8% to $7.2 billion in 2024, then tumbled by 62.58% to $2.7 billion in 2025.
• The last three Invested Capital figures came in at $2.7 billion (Q4 2025), $7.2 billion (Q4 2024), and $8.8 billion (Q4 2023), per Business Quant data.