CMB.TECH nv (CMBT) vs South Bow Corporation (SOBO)

CMB.TECH nv and South Bow Corporation are both Oil & Gas Midstream companies. South Bow Corporation is the larger, with a market value of $6.6B against $4.8B — 1.4× the size. CMB.TECH nv trades at the lower P/E: 3.4× against 14.4×. CMB.TECH nv grew revenue faster over the last twelve months: 133.9% against −2.10%. CMB.TECH nv has the higher net margin (51.1% vs 23.0%) and the lower return on invested capital (0.00% vs 6.54%). Both pay a dividend; South Bow Corporation yields more (6.30% vs 5.55%). Across the 20 metrics below, CMB.TECH nv leads on 11 and South Bow Corporation on 9.

Valuation

Metric CMBT SOBO Oil & Gas Midstream median
P/E 3.43 14.37 11.68
P/S 2.27 3.31 2.39
P/B 1.54 2.49 1.68
Price to free cash flow n/m 9.70 8.52
EV/EBITDA 7.33 10.51 9.03
EV/Sales 4.67 5.81 3.43
Earnings yield 29.13% 6.96% 7.78%
Free cash flow yield (1.77%) 10.31% 7.11%

Profitability

Metric CMBT SOBO Oil & Gas Midstream median
Gross margin 75.42% 49.48% 54.87%
Operating margin 59.23% 42.78% 34.73%
Net margin 51.13% 22.99% 20.12%
Free cash flow margin 0.00% 34.13% 14.43%
Return on equity 0.00% 17.35% 11.73%
Return on assets 0.00% 4.02% 4.43%
Return on invested capital 0.00% 6.54% 6.10%

Growth

Metric CMBT SOBO Oil & Gas Midstream median
Revenue growth (TTM) 133.89% (2.10%) 14.88%
EPS growth (last fiscal year) (84.23%) 36.18% (7.78%)
Revenue growth, 5-year CAGR 8.72% — 10.05%
Net income growth, 5-year CAGR (19.43%) — 0.00%

Health

Metric CMBT SOBO Oil & Gas Midstream median
Debt to equity 1.68 2.15 0.77
Current ratio 1.12 1.52 1.19
Net debt to EBITDA 5.50 4.90 3.46

Dividend

Metric CMBT SOBO Oil & Gas Midstream median
Dividend yield 5.55% 6.30% 4.94%
Payout ratio 0.19 0.91 0.73

Size

Metric CMBT SOBO Oil & Gas Midstream median
Market cap 4.78b 6.59b 3.56b

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