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 $7.0B against $5.2B — 1.4× the size. CMB.TECH nv trades at the lower P/E: 3.6× against 15.7×. 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 (5.77% vs 5.33%). 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 3.57 15.70 12.77
P/S 2.36 3.62 2.36
P/B 1.60 2.72 2.09
Price to free cash flow n/m 10.59 9.71
EV/EBITDA 7.47 11.06 8.30
EV/Sales 4.76 6.12 3.88
Earnings yield 28.00% 6.37% 7.15%
Free cash flow yield (1.70%) 9.44% 6.86%

Profitability

Metric CMBT SOBO Oil & Gas Midstream median
Gross margin 75.42% 49.48% 56.58%
Operating margin 59.23% 42.78% 34.18%
Net margin 51.13% 22.99% 22.50%
Free cash flow margin 0.00% 34.13% 13.70%
Return on equity 0.00% 17.35% 14.65%
Return on assets 0.00% 4.02% 5.00%
Return on invested capital 0.00% 6.54% 6.13%

Growth

Metric CMBT SOBO Oil & Gas Midstream median
Revenue growth (TTM) 133.89% (2.10%) 15.60%
EPS growth (last fiscal year) (86.26%) 36.18% (7.86%)
Revenue growth, 5-year CAGR 8.72% — 9.59%
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 0.78
Current ratio 1.12 1.52 1.19
Net debt to EBITDA 5.50 4.90 3.42

Dividend

Metric CMBT SOBO Oil & Gas Midstream median
Dividend yield 5.33% 5.77% 4.54%
Payout ratio 0.19 0.91 0.76

Size

Metric CMBT SOBO Oil & Gas Midstream median
Market cap 5.20b 7.04b 3.73b

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