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 $7.2B against $5.5B — 1.3× the size. CMB.TECH nv trades at the lower P/E: 3.9× against 15.4×. 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%). Across the 19 metrics below, CMB.TECH nv leads on 11 and South Bow Corporation on 8.

Valuation

Metric CMBT SOBO Oil & Gas Midstream median
P/E 3.94 15.38 13.19
P/S 2.60 3.54 2.60
P/B 1.77 2.66 2.08
Price to free cash flow n/m 10.38 10.14
EV/EBITDA 7.85 10.93 8.11
EV/Sales 5.01 6.05 3.89
Earnings yield 25.41% 6.50% 6.83%
Free cash flow yield (1.54%) 9.63% 6.94%

Profitability

Metric CMBT SOBO Oil & Gas Midstream median
Gross margin 75.42% 49.48% 58.81%
Operating margin 59.23% 42.78% 32.14%
Net margin 51.13% 22.99% 21.16%
Free cash flow margin 0.00% 34.13% 10.15%
Return on equity 0.00% 17.35% 11.30%
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%) 15.44%
EPS growth (last fiscal year) (86.26%) 36.18% —
Revenue growth, 5-year CAGR 8.72% — 8.96%
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 7.57% — 7.29%
Payout ratio 0.63 — 0.64

Size

Metric CMBT SOBO Oil & Gas Midstream median
Market cap 5.48b 7.16b 3.61b

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