South Bow (SOBO) Operating Expenses (2024 - 2026)
South Bow (SOBO) posted quarterly Operating Expenses of $193.0 million for Q1 2026, up 12.87% year-over-year from $171.0 million in Q1 2025, and down 73.78% quarter-over-quarter from $736.0 million in Q4 2025.
South Bow (SOBO) Operating Expenses (2024 - 2026) Analysis & Trends
South Bow's Operating Expenses history runs 3 years deep, the most recent figure standing at $193.0 million for Q1 2026.
- In Q1 2026, Operating Expenses rose 12.87% year-over-year to $193.0 million; the TTM figure through Mar 2026 stood at $1.3 billion (down 5.21% YoY), while the FY2025 annual figure was $1.3 billion, down 7.56% from the prior year.
- Operating Expenses for Q1 2026 stood at $193.0 million, down from $736.0 million in the prior quarter.
- The five-year high for Operating Expenses was $798.0 million in Q4 2024, with the low at $168.0 million in Q3 2025.
- The 3-year median for Operating Expenses is $194.0 million (2024), against an average of $315.4 million.
- The sharpest annual moves came in 2025 and 2026: Operating Expenses dropped 13.4% in 2025, then gained 12.87% in 2026.
- South Bow's Operating Expenses stood at $798.0 million in 2024, then retreated by 7.77% to $736.0 million in 2025, then sank by 73.78% to $193.0 million in 2026.
- Business Quant data shows SOBO's Operating Expenses at $193.0 million in Q1 2026, $736.0 million in Q4 2025, and $168.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Kinder Morgan | 112.69 Bn | 112.57 Bn | 3.07 Bn | 3.13 Bn |
| 2 | Enbridge | 111.07 Bn | 109.57 Bn | 5.23 Bn | 19.09 Bn |
| 3 | Enterprise Products Partners | 83.45 Bn | 82.54 Bn | - | 16.13 Bn |
| 4 | Energy Transfer | 72.38 Bn | 71.35 Bn | 7.40 Bn | 30.76 Bn |
| 5 | Tc Energy | 65.96 Bn | 58.40 Bn | 1.24 Bn | 851.61 Mn |
| 6 | Oneok | 60.08 Bn | 59.92 Bn | 2.81 Bn | 4.00 Mn |
| 7 | Mplx | 60.06 Bn | 59.03 Bn | 2.73 Bn | 1.93 Bn |
| 8 | Targa Resources | 59.31 Bn | 59.18 Bn | 2.14 Bn | 354.10 Mn |
| 9 | Cheniere Energy | 56.08 Bn | 54.82 Bn | 5.29 Bn | 1.44 Bn |
| 10 | South Bow | 7.64 Bn | 7.00 Bn | 417.00 Mn | 193.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 193.00 Mn |
| Dec 31, 2025 | 736.00 Mn |
| Sep 30, 2025 | 168.00 Mn |
| Jun 30, 2025 | 196.00 Mn |
| Mar 31, 2025 | 171.00 Mn |
| Dec 31, 2024 | 798.00 Mn |
| Sep 30, 2024 | 194.00 Mn |
| Jun 30, 2024 | 201.00 Mn |
| Mar 31, 2024 | 182.00 Mn |