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HF Sinclair vs South Bow: revenue, profit, margins and growth compared

HF Sinclair brought in $26.9B of revenue in fiscal 2025, South Bow $2B in fiscal 2025. Revenue changed by -6.0% at HF Sinclair and -6.3% at South Bow on the year before, so HF Sinclair grew faster. HF Sinclair kept 2.2% of its revenue as net profit, South Bow 21.8%.

Side by side, latest fiscal year

DINOSOBO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$26.9B$2B
Revenue growth-6.0%-6.3%
Net income$579M$433M
Net margin2.2%21.8%
Free cash flow$866Mn/a
Free cash flow margin3.2%n/a
Earnings per share (diluted)$3.08$2.07
Cash$978M$549M
Debt$2.8Bn/a
Price to earnings34.7n/a
Market value$19B$7.1B
Dividend yield1.87%n/a
Rank by revenue in sector#12 of 129 · Energy#58 of 129 · Energy

Over the years

Revenue
DINO FY2020: $11.2BDINO FY2022: $18.4BDINO FY2022: $38.2BDINO FY2023: $32BDINO FY2024: $28.6BDINO FY2025: $26.9BSOBO FY2024: $2BSOBO FY2024: $2.1BSOBO FY2025: $2BFY20FY22FY23FY24FY25
DINO $26.9BSOBO $2B
Net income
DINO FY2020: -$601.4MDINO FY2022: $558.3MDINO FY2022: $2.9BDINO FY2023: $1.6BDINO FY2024: $177MDINO FY2025: $579MSOBO FY2024: $442MSOBO FY2024: $316MSOBO FY2025: $433MFY20FY22FY23FY24FY25
DINO $579MSOBO $433M
Net margin
DINO FY2020: -5.4%DINO FY2022: 3.0%DINO FY2022: 7.7%DINO FY2023: 5.0%DINO FY2024: 0.6%DINO FY2025: 2.2%SOBO FY2024: 22.0%SOBO FY2024: 14.9%SOBO FY2025: 21.8%FY20FY22FY23FY24FY25
DINO 2.2%SOBO 21.8%
Revenue growth
DINO FY2022: +64.4%DINO FY2022: +107.8%DINO FY2023: -16.3%DINO FY2024: -10.6%DINO FY2025: -6.0%SOBO FY2024: +5.7%SOBO FY2025: -6.3%FY22FY23FY24FY25
DINO -6.0%SOBO -6.3%
Free cash flow
DINO FY2020: $187.1MDINO FY2022: -$318.4MDINO FY2022: $3.3BDINO FY2023: $1.9BDINO FY2024: $640MDINO FY2025: $866MSOBO FY2024: $732MSOBO FY2024: $388MFY20FY22FY23FY24FY25
DINO $866MSOBO $388M

Fiscal years as each company reports them; the two may end in different months.

Questions about HF Sinclair and South Bow

Which is bigger by revenue, HF Sinclair or South Bow?

HF Sinclair is bigger by revenue: $26.9B in fiscal 2025, against $2B for South Bow in fiscal 2025.

Which keeps more of its revenue as profit, HF Sinclair or South Bow?

HF Sinclair had a net margin of 2.2% in fiscal 2025; South Bow had 21.8% in fiscal 2025.

Which grew revenue faster, HF Sinclair or South Bow?

In their latest fiscal years revenue changed by -6.0% at HF Sinclair and -6.3% at South Bow.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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