Friday 6 November 2026 Export SO’s income statement to Excel — free account

Southern Company (The)

SO Utilities Utilities Regulated Electric

Southern Company (The)’s revenue for fiscal 2025 (year ended December 2025) was $29.6 billion, up 10.6% from fiscal 2024.

Revenue: +13.0%
EPS: +14.2%
Free cash flow: +362.1%
Total debt: +1.32%

Quarter to September 2026, against a year earlier

93.28 0.16 +0.17%

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Market cap: $107.4B
P/E: 21.2×
Fwd P/E: 21.3×
Dividend yield: 3.22%
F-score: 4/9
Altman Z: 0.93
Beneish M: −2.63
Dividend safety: 32/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Southern Company (The) (SO) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2019: revenue by segment, and margins
Electric Utilities	17,095	79.81%
SOUTHERN Co GAS	3,792	17.70%
All Other	690	3.22%
Gross margin		71.09%
Operating margin		36.12%
Pre-tax margin		30.54%

Revenue by product or service $m

Line	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Retail electric revenues	14,987 85.69%	15,550 84.20%	14,541 85.10%	14,187 85.79%	15,071 85.35%	—	—	—
Wholesale electric revenues	1,798 10.28%	2,184 11.83%	1,855 10.86%	1,675 10.13%	1,905 10.79%	—	—	—
Other electric revenues	657 3.76%	672 3.64%	639 3.74%	616 3.72%	611 3.46%	—	—	—
Other, not broken out	—	—	—	—	—	—	101 0.64%	127 0.74%
Electric Utilities	17,442	18,406	17,035	16,478	17,587	—	—	—
Revenue	17,489	18,467	17,087	16,537	17,657	17,456	15,743	17,127

Revenue by segment $m

Line	FY2019	FY2018	FY2017
Electric Utilities	17,095 79.81%	18,571 79.04%	18,540 80.50%
SOUTHERN Co GAS	3,792 17.70%	3,909 16.64%	3,920 17.02%
All Other	690 3.22%	1,213 5.16%	741 3.22%
Eliminations	(158) (0.74%)	(198) (0.84%)	(170) (0.74%)
Revenue	21,419	23,495	23,031

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Commercial	Q3 FY2026	16.1B	14.6B	+10.13%
Industrial	Q3 FY2026	13.3B	13.0B	+2.52%
Other	Q3 FY2026	127.0M	135.0M	−5.93%
Residential	Q3 FY2026	16.1B	14.6B	+10.15%
Southern Company Gas	Q3 FY2026	4.4M	4.4M	+0.32%
Total Regulated Utility Customers	Q3 FY2026	9.0M	8.9M	+0.69%
Total Retail Sales	Q3 FY2026	45.7B	42.4B	+7.75%
Total Sales	Q3 FY2026	60.8B	56.6B	+7.35%
Total Wholesale Sales	Q3 FY2026	15.1B	14.3B	+6.16%
Traditional Electric Operating Companies	Q3 FY2026	4.6M	4.6M	+1.05%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024
Commercial	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Industrial	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Residential	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Southern Company Gas	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total Regulated Utility Customers	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total Retail Sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total Sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total Wholesale Sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Traditional Electric Operating Companies	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.