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

South Bow's Net Margin history runs 3 years deep, the most recent figure standing at 17.92% for Q1 2026.

• In Q1 2026, Net Margin fell 55.0% year-over-year to 17.92%; the TTM figure through Mar 2026 stood at 25.72% (up 884.0% YoY), while the FY2025 annual figure was 25.83%, up 814.0% from the prior year.
• Net Margin was 17.92% for Q1 2026 at South Bow, down from 25.84% in the prior quarter.
• In the past five years, Net Margin ranged from a high of 37.96% in Q3 2025 to a low of 11.55% in Q2 2024.
• Historically, Net Margin has averaged 21.43% across 3 years, with a median of 21.51% in 2024.
• Biggest YoY gain for Net Margin was 1399 bps in 2025; the steepest drop was 303 bps in 2025.
• A 3-year view of Net Margin shows it stood at 13.52% in 2024, then soared by 91 bps to 25.84% in 2025, then tumbled by 31 bps to 17.92% in 2026.
• The last three Net Margin figures came in at 17.92% (Q1 2026), 25.84% (Q4 2025), and 37.96% (Q3 2025), per Business Quant data.