South Bow Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023
Period Ending	Apr '26 Apr 28, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Market Capitalization	9,135	7,861	7,041	-
Market Cap Growth	35.90%	11.66%	-	-
Enterprise Value	16,326	15,209	20,327	-
Last Close Price	43.80	37.20	31.03	-
PE Ratio	15.43	13.24	15.49	-
Forward PE	18.29	16.67	14.13	-
PS Ratio	3.35	2.89	2.31	-
PB Ratio	2.46	2.12	1.88	-
P/TBV Ratio	2.46	2.12	1.88	-
P/FCF Ratio	12.36	10.64	12.02	-
P/OCF Ratio	9.29	8.00	9.25	-
PEG Ratio	45.73	33.34	7.06	-
EV/Sales Ratio	6.00	5.59	6.66	-
EV/EBITDA Ratio	11.52	11.42	13.85	-
EV/EBIT Ratio	15.34	15.32	18.25	-
EV/FCF Ratio	22.09	20.58	34.71	-
Debt / Equity Ratio	2.14	2.14	2.20	2.10
Debt / EBITDA Ratio	5.90	5.90	5.61	6.31
Debt / FCF Ratio	10.75	10.75	14.10	8.05
Net Debt / Equity Ratio	1.94	1.94	2.05	2.01
Net Debt / EBITDA Ratio	5.40	5.40	5.24	6.05
Net Debt / FCF Ratio	9.73	9.73	13.12	7.70
Asset Turnover	0.18	0.18	0.18	-
Inventory Turnover	6.59	6.59	5.90	-
Quick Ratio	1.29	1.29	0.94	0.87
Current Ratio	1.50	1.50	1.25	1.26
Return on Equity (ROE)	16.28%	16.28%	11.60%	-
Return on Assets (ROA)	4.02%	4.02%	4.14%	-
Return on Invested Capital (ROIC)	7.96%	7.93%	7.09%	6.44%
Return on Capital Employed (ROCE)	7.30%	7.30%	8.10%	7.00%
Earnings Yield	6.50%	7.55%	6.46%	-
FCF Yield	8.09%	9.40%	8.32%	-
Dividend Yield	6.22%	7.37%	2.32%	-
Payout Ratio	97.26%	96.07%	38.29%	42.99%
Buyback Yield / Dilution	-0.29%	-0.29%	-0.29%	-
Total Shareholder Return	5.93%	7.08%	2.03%	-

Source: S&P Capital IQ. Standard template. Financial Sources.