Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $2.00B | $2.12B | $1.99B |
| Revenue growth | — | 5.7% | -6.3% |
| Operating income | $1.07B | $1.09B | — |
| Operating margin | 53.6% | 51.5% | — |
| Net income | $442M | $316M | $433M |
| Net margin | 22.0% | 14.9% | 21.8% |
| EPS (diluted) | $2.13 | $1.52 | $2.07 |
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Operating cash flow | $779M | $529M | $717M |
| Capital expenditures | $47.0M | $141M | — |
| Free cash flow | $732M | $388M | — |
| Dividends paid | — | $0.00 | $416M |
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cash & equivalents | $262M | $397M | $549M |
| Total assets | $12.0B | $11.3B | $11.2B |
| Total liabilities | $9.19B | $8.72B | $8.48B |
| Shareholders' equity | $2.84B | $2.61B | $2.71B |
| Retained earnings | $0.00 | -$49.0M | -$32.0M |
| Shares (wtd avg diluted) | 208M | 208M | 209M |
Every figure is extracted from South Bow Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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