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Genesis Energy vs South Bow: revenue, profit, margins and growth compared

Genesis Energy brought in $1.6B of revenue in fiscal 2025, South Bow $2B in fiscal 2025. Revenue changed by -1.8% at Genesis Energy and -6.3% at South Bow on the year before, so Genesis Energy grew faster. Genesis Energy kept -27.0% of its revenue as net profit, South Bow 21.8%.

Side by side, latest fiscal year

GELSOBO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.6B$2B
Revenue growth-1.8%-6.3%
Net income-$440.4M$433M
Net margin-27.0%21.8%
Free cash flow$65.9Mn/a
Free cash flow margin4.0%n/a
Earnings per share (diluted)-$4.19$2.07
Cash$6.4M$549M
Debt$3Bn/a
Price to earningsn/an/a
Market value$1.7B$7.1B
Dividend yieldn/an/a
Rank by revenue in sector#63 of 129 · Energy#58 of 129 · Energy

Over the years

Revenue
GEL FY2018: $2.9BGEL FY2019: $2.5BGEL FY2020: $1.8BGEL FY2021: $2.1BGEL FY2022: $2.8BGEL FY2023: $1.7BGEL FY2024: $1.7BGEL FY2025: $1.6BSOBO FY2024: $2BSOBO FY2024: $2.1BSOBO FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
GEL $1.6BSOBO $2B
Net income
GEL FY2018: -$6.1MGEL FY2019: $96MGEL FY2020: -$416.7MGEL FY2021: -$165.1MGEL FY2022: $75.5MGEL FY2023: $117.7MGEL FY2024: -$63.9MGEL FY2025: -$440.4MSOBO FY2024: $442MSOBO FY2024: $316MSOBO FY2025: $433MFY18FY19FY20FY21FY22FY23FY24FY25
GEL -$440.4MSOBO $433M
Net margin
GEL FY2018: -0.2%GEL FY2019: 3.9%GEL FY2020: -22.8%GEL FY2021: -7.8%GEL FY2022: 2.7%GEL FY2023: 6.8%GEL FY2024: -3.9%GEL FY2025: -27.0%SOBO FY2024: 22.0%SOBO FY2024: 14.9%SOBO FY2025: 21.8%FY18FY19FY20FY21FY22FY23FY24FY25
GEL -27.0%SOBO 21.8%
Revenue growth
GEL FY2019: -14.8%GEL FY2020: -26.4%GEL FY2021: +16.5%GEL FY2022: +31.2%GEL FY2023: -38.3%GEL FY2024: -3.5%GEL FY2025: -1.8%SOBO FY2024: +5.7%SOBO FY2025: -6.3%FY19FY20FY21FY22FY23FY24FY25
GEL -1.8%SOBO -6.3%
Free cash flow
GEL FY2018: $194.7MGEL FY2019: $219MGEL FY2020: $152.6MGEL FY2021: $36.6MGEL FY2022: -$89.8MGEL FY2023: -$98.9MGEL FY2024: -$195.2MGEL FY2025: $65.9MSOBO FY2024: $732MSOBO FY2024: $388MFY18FY19FY20FY21FY22FY23FY24FY25
GEL $65.9MSOBO $388M

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

Questions about Genesis Energy and South Bow

Which is bigger by revenue, Genesis Energy or South Bow?

South Bow is bigger by revenue: $2B in fiscal 2025, against $1.6B for Genesis Energy in fiscal 2025.

Which keeps more of its revenue as profit, Genesis Energy or South Bow?

Genesis Energy had a net margin of -27.0% in fiscal 2025; South Bow had 21.8% in fiscal 2025.

Which grew revenue faster, Genesis Energy or South Bow?

In their latest fiscal years revenue changed by -1.8% at Genesis Energy 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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