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South Bow Corp is a energy infrastructure company. The company is engaged in constructing pipelines system safely transports liquids like crude oil, across Canadian provinces, U.S. states, and Gulf coasts. It has three reportable segments: Keystone Pipeline System, Marketing, and Intra-Alberta & Other. It derives maximum revenue from Keystone Pipeline System segment.
2023
600
LTM Revenue $2.8B
LTM EBITDA $1.4B
$11.0B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
South Bow has a last 12-month revenue (LTM) of $2.8B and a last 12-month EBITDA of $1.4B.
In the most recent fiscal year, South Bow achieved revenue of $1.5B and an EBITDA of $757M.
South Bow expects next 12-month revenue of XXX and NTM EBITDA of XXX
See South Bow valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $2.8B | XXX | $1.5B | XXX | XXX | XXX |
| Gross Profit | n/a | XXX | $1.1B | XXX | XXX | XXX |
| Gross Margin | n/a | XXX | 71% | XXX | XXX | XXX |
| EBITDA | $1.4B | XXX | $757M | XXX | XXX | XXX |
| EBITDA Margin | 51% | XXX | 50% | XXX | XXX | XXX |
| EBIT | $1.1B | XXX | $536M | XXX | XXX | XXX |
| EBIT Margin | 39% | XXX | 35% | XXX | XXX | XXX |
| Net Profit | $465M | XXX | $227M | XXX | XXX | XXX |
| Net Margin | 16% | XXX | 15% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $3.8B | XXX | XXX | XXX |
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As of September 5, 2025, South Bow's stock price is CAD 38 (or $27).
South Bow has current market cap of CAD 7.9B (or $5.7B), and EV of CAD 15.3B (or $11.0B).
See South Bow trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $11.0B | $5.7B | XXX | XXX | XXX | XXX | $1.72 |
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Start Free TrialAs of September 5, 2025, South Bow has market cap of $5.7B and EV of $11.0B.
South Bow's trades at 7.2x EV/Revenue multiple, and 14.5x EV/EBITDA.
Equity research analysts estimate South Bow's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
South Bow has a P/E ratio of 17.0x.
See valuation multiples for South Bow and 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $5.7B | XXX | $5.7B | XXX | XXX | XXX |
| EV (current) | $11.0B | XXX | $11.0B | XXX | XXX | XXX |
| EV/Revenue | 5.4x | XXX | 7.2x | XXX | XXX | XXX |
| EV/EBITDA | 10.5x | XXX | 14.5x | XXX | XXX | XXX |
| EV/EBIT | 14.0x | XXX | 20.5x | XXX | XXX | XXX |
| EV/Gross Profit | n/a | XXX | n/a | XXX | XXX | XXX |
| P/E | 17.0x | XXX | 25.1x | XXX | XXX | XXX |
| EV/FCF | 21.5x | XXX | 37.5x | XXX | XXX | XXX |
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Start Free TrialSouth Bow's last 12 month revenue growth is -2%
South Bow's revenue per employee in the last FY averaged $2.5M, while opex per employee averaged $0.9M for the same period.
South Bow's rule of 40 is 49% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
South Bow's rule of X is 46% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for South Bow and other 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | -2% | XXX | 15% | XXX | XXX | XXX |
| EBITDA Margin | 51% | XXX | 50% | XXX | XXX | XXX |
| EBITDA Growth | 0% | XXX | 17% | XXX | XXX | XXX |
| Rule of 40 | 49% | XXX | 48% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 46% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $2.5M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.9M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 36% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| AMG Critical Materials | XXX | XXX | XXX | XXX | XXX | XXX |
| ArcelorMittal | XXX | XXX | XXX | XXX | XXX | XXX |
| B2Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| Equinox Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| New Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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South Bow acquired XXX companies to date.
Last acquisition by South Bow was XXXXXXXX, XXXXX XXXXX XXXXXX . South Bow acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 65K+ M&A deals.
Start Free Trial| When was South Bow founded? | South Bow was founded in 2023. |
| Where is South Bow headquartered? | South Bow is headquartered in Canada. |
| How many employees does South Bow have? | As of today, South Bow has 600 employees. |
| Who is the CEO of South Bow? | South Bow's CEO is Mr. Bevin M. Wirzba. |
| Is South Bow publicy listed? | Yes, South Bow is a public company listed on TSE. |
| What is the stock symbol of South Bow? | South Bow trades under SOBO ticker. |
| When did South Bow go public? | South Bow went public in 2024. |
| Who are competitors of South Bow? | Similar companies to South Bow include e.g. AMG Critical Materials, ArcelorMittal, B2Gold, Equinox Gold. |
| What is the current market cap of South Bow? | South Bow's current market cap is $5.7B |
| What is the current revenue of South Bow? | South Bow's last 12 months revenue is $2.8B. |
| What is the current revenue growth of South Bow? | South Bow revenue growth (NTM/LTM) is -2%. |
| What is the current EV/Revenue multiple of South Bow? | Current revenue multiple of South Bow is 5.4x. |
| Is South Bow profitable? | Yes, South Bow is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of South Bow? | South Bow's last 12 months EBITDA is $1.4B. |
| What is South Bow's EBITDA margin? | South Bow's last 12 months EBITDA margin is 51%. |
| What is the current EV/EBITDA multiple of South Bow? | Current EBITDA multiple of South Bow is 10.5x. |
| What is the current FCF of South Bow? | South Bow's last 12 months FCF is $709M. |
| What is South Bow's FCF margin? | South Bow's last 12 months FCF margin is 25%. |
| What is the current EV/FCF multiple of South Bow? | Current FCF multiple of South Bow is 21.5x. |
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