South Bow (SOBO) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), South Bow reported total assets of $11.19B and total liabilities of $8.48B. Shareholders' equity was $2.71B, up 3.8% from $2.61B a year earlier. Total debt stood at $5.77B against $549.00M in cash and short-term investments, a net debt position of $5.22B. That puts debt-to-equity at 2.13, compared with 2.19 a year earlier.

South Bow Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for South Bow Corporation (SOBO) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023
Period ending	Dec 2025	Dec 2024	Dec 2023
Current Assets
Cash and Cash Equivalents	0.55	0.40	0.35
Cash & Short-Term Investments	0.55	0.40	0.35
Accounts Receivable	1.11	1.19	1.86
Inventory	0.10	0.21	0.21
Other Current Assets	0.25	0.06	1.02
Total Current Assets	2.02	2.20	3.45
Non-Current Assets
Property, Plant & Equipment (Net)	8.21	8.21	11.17
Long-Term Investments	0.74	0.73	1.08
Other Non-Current Assets	0.23	0.15	0.16
Total Non-Current Assets	9.16	9.14	12.42
Total Assets	11.19	11.33	15.95
Current Liabilities
Accounts Payable	1.14	1.06	2.75
Accrued Liabilities	0.10	0.15	0.09
Deferred Revenue	0.02	0.06	0.00
Other Current Liabilities	0.10	0.37	0.00
Total Current Liabilities	1.34	1.76	2.75
Non-Current Liabilities
Long-Term Debt	5.77	5.72	7.92
Deferred Tax Liabilities	1.19	1.10	1.38
Other Non-Current Liabilities	1.38	0.09	0.11
Total Non-Current Liabilities	7.14	6.96	9.43
Total Liabilities	8.48	8.72	12.18
Stockholders' Equity
Common Stock	2.20	2.20	3.93
Retained Earnings	-0.03	-0.05	0.00
Accumulated Other Comprehensive Income	-0.12	-0.20	-0.13
Additional Paid-in Capital	0.66	0.66	0.00
Shares Outstanding	0.21	0.21	0.21
Total Stockholders' Equity	2.71	2.61	3.76
Total Liabilities & Equity	11.17	11.33	0.00

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About South Bow Balance Sheet

How much debt does South Bow have?

South Bow had total debt of $5.77B as of Dec 31, 2025, against $549.00M in cash and short-term investments. Its debt-to-equity ratio was 2.13. Total debt was $5.72B a year earlier.

What are South Bow's total assets?

South Bow reported total assets of $11.19B as of Dec 31, 2025, down 1.2% from $11.33B a year earlier. Total liabilities were $8.48B.

What is South Bow's shareholders' equity?

South Bow's shareholders' equity was $2.71B as of Dec 31, 2025, or about $13.01 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition