South Bow (SOBO) Net Margin (2024 - 2026)
South Bow's (SOBO) quarterly Net Margin came in at 17.92% in Q1 2026, down 55.0% year-on-year from 39.83% in Q1 2025, and up 80.3% quarter-over-quarter from 9.94% in Q4 2025.
South Bow (SOBO) Net Margin (2024 - 2026) Analysis & Trends
South Bow's Net Margin history runs 3 years deep, the most recent figure standing at 17.92% for Q1 2026.
- On a quarterly basis, Net Margin fell 55.0% year-over-year to 17.92% in Q1 2026; TTM through Mar 2026 was 21.68%, a 765.0% increase from a year earlier, with the FY2025 full-year figure at 21.8%, up 690.0% from the prior year.
- Net Margin advanced to 17.92% in Q1 2026 per SOBO's latest filing, from 9.94% in the prior quarter.
- Across five years, Net Margin topped out at 37.96% in Q3 2025 and bottomed at 1.43% in Q4 2024.
- The 3-year median for Net Margin is 18.47% (2025), against an average of 18.32%.
- Biggest YoY gain for Net Margin was 1399 bps in 2025; the steepest drop was 303 bps in 2025.
- Year by year, Net Margin stood at 1.43% in 2024, then jumped by 593 bps to 9.94% in 2025, then jumped by 80 bps to 17.92% in 2026.
- Per Business Quant, the three latest SOBO Net Margin figures stand at 17.92% (Q1 2026), 9.94% (Q4 2025), and 37.96% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | DHT Holdings | 2,706.13 Bn | 2,706.00 Bn | 167.16 Mn | 88.32% |
| 2 | Flex LNG | 1,674.16 Bn | 1,673.77 Bn | 61.79 Mn | 21.07% |
| 3 | Kinder Morgan | 112.74 Bn | 113.82 Bn | 3.07 Bn | 19.97% |
| 4 | Enbridge | 89.82 Bn | 89.03 Bn | 6.70 Bn | 7.47% |
| 5 | Enterprise Products Partners | 83.97 Bn | 82.82 Bn | - | 10.40% |
| 6 | Tc Energy | 72.76 Bn | 73.95 Bn | 1.36 Bn | 0.05% |
| 7 | Energy Transfer | 70.27 Bn | 69.30 Bn | 6.62 Bn | 4.30% |
| 8 | Targa Resources | 61.30 Bn | 61.34 Bn | 1.70 Bn | 11.71% |
| 9 | Oneok | 61.15 Bn | 61.02 Bn | 8.98 Bn | 8.07% |
| 10 | South Bow | 8.06 Bn | 7.46 Bn | 417.00 Mn | 17.92% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 17.92% |
| Dec 31, 2025 | 9.94% |
| Sep 30, 2025 | 37.96% |
| Jun 30, 2025 | 22.14% |
| Mar 31, 2025 | 18.47% |
| Dec 31, 2024 | 1.43% |
| Sep 30, 2024 | 23.97% |
| Jun 30, 2024 | 11.55% |
| Mar 31, 2024 | 21.51% |