Saturday 17 October 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. In the quarter to June 2026, revenue was flat, EPS grew 28.8%, free cash flow grew 23.5% and total debt rose 7.46%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, operating cash flow growth for three.

91.18 2.00 +2.24%

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Market cap: $102.6B
P/E: 21.9×
Fwd P/E: 20.8×
Dividend yield: 3.29%
F-score: 4/9
Altman Z: 0.93
Beneish M: −2.63
Dividend safety: 32/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 5.63

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	1	3	—	1	1	1	2	3	1

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 102,590.00

Revenue 30,179.00

Net Income 4,575.00

Free Cash Flow (3,268.00)

Net Debt 70,466.00

Current Ratio 0.79

Debt/Equity 1.73

P/E ratio 21.87

Fwd P/E 20.80

P/S ratio 3.44

P/B ratio 2.45

Past 5Y EPS Growth 5.96%

This Y EPS Growth 6.85%

Next Y EPS Growth 7.21%

Next Y revenue growth 4.61%

Next 5Y EPS Growth 7.74%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 60.45%

10-year low 10-year high

P/S against its own 10 years 83.89%

10-year low 10-year high

P/B against its own 10 years 78.58%

10-year low 10-year high

EV/Sales against its own 10 years 82.82%

10-year low 10-year high

Dividends

Payout Ratio 0.72

Annual Dividend Rate 3.00

Annual Dividend Yield 3.29%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.04	0.74 0.76 0.76
2025	2.94	0.72 0.74 0.74 0.74
2024	2.86	0.70 0.72 0.72 0.72
2023	2.78	0.68 0.70 0.70 0.70
2022	2.70	0.66 0.68 0.68 0.68
2021	2.62	0.64 0.66 0.66 0.66
2020	2.54	0.62 0.64 0.64 0.64
2019	2.46	0.60 0.62 0.62 0.62
2018	2.38	0.58 0.60 0.60 0.60
2017	2.30	0.56 0.58 0.58 0.58
2016	2.22	0.54 0.56 0.56 0.56

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	748	1,070	1,639	2,984
Receivables	2,481	2,751	2,822	2,783
Inventory	2,932	2,981	2,937	3,108
Other	3,865	3,598	3,192	3,133
	10,432	10,694	10,917	12,378

	2023	2024	2025	Q'26
Payables	2,898	3,701	3,710	3,374
ST’ Debt	2,476	4,718	6,220	4,694
Other	2,925	3,039	2,810	2,823
	13,467	15,993	16,888	15,734

Compound Annual Growth %

	10y	5y	3y
Sales	5.39%	7.72%	0.31%
Cash Flow	4.56%	7.92%	15.86%
Earnings	6.25%	6.84%	7.20%
Book Value	5.81%	3.63%	4.02%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	8,397	6,977	—	—	—
’25	7,775	6,973	7,823	6,982	29,553
’24	6,646	6,463	7,274	6,341	26,724
’23	6,480	5,748	6,980	6,045	25,253
’22	6,648	7,206	8,378	7,047	29,279
’21	5,910	5,198	6,238	5,767	23,113
’20	5,018	4,620	5,620	5,117	20,375

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,226	3,054	—	—	—
’25	1,250	2,181	3,774	2,597	9,802
’24	1,311	2,688	3,616	2,173	9,788
’23	844	2,056	2,840	1,813	7,553
’22	1,592	1,987	1,438	1,285	6,302
’21	1,242	1,662	2,177	1,088	6,169
’20	894	1,953	2,373	1,476	6,696

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,718)	(641)	—	—	—
’25	(1,187)	(838)	779	(1,688)	(2,934)
’24	(459)	908	1,330	(577)	1,202
’23	(903)	31	216	(722)	(1,378)
’22	264	221	(850)	(981)	(1,346)
’21	(436)	(19)	474	(519)	(500)
’20	316	312	214	(619)	223

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.21	1.03	—	—	—
’25	1.21	0.79	1.55	0.38	3.94
’24	1.03	1.09	1.40	0.49	4.02
’23	0.79	0.76	1.30	0.78	3.64
’22	0.97	1.03	1.36	(0.08)	3.28
’21	1.07	0.35	1.04	(0.20)	2.26
’20	0.82	0.58	1.18	0.37	2.95

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	46.00	46.71	42.38	43.26	41.96	56.69	60.71	61.56	65.80	80.46	Analyst estimates 2026–2028 Powerpack
	High	54.64	53.51	49.43	64.26	71.10	68.88	80.57	75.80	94.45	100.84
People
People	Employees	32,020	31,344	29,192	27,943	27,700	27,300	27,700	28,100	28,600	29,800
	Revenue/emp, $m	0.62	0.73	0.80	0.77	0.74	0.85	1.06	0.90	0.93	0.99
Income, $m
Income, $m	Revenue	19,896	23,031	23,495	21,419	20,375	23,113	29,279	25,253	26,724	29,553
	Gross margin, %	69.92	67.97	66.15	71.09	75.14	69.87	59.60	70.49	74.39	72.38
	EBT	3,480	1,068	2,749	6,542	3,496	2,576	4,223	4,345	5,229	4,999
	EBT margin, %	17.49	4.64	11.70	30.54	17.16	11.15	14.42	17.21	19.57	16.92
	Net income	2,529	926	2,300	4,744	3,103	2,309	3,428	3,849	4,260	4,171
	Depreciation	2,923	3,457	3,549	3,331	3,905	3,973	4,064	4,986	5,266	6,030
Per share, $
Per share, $	Revenue	20.92	23.03	23.03	20.48	19.26	21.78	27.24	23.13	24.38	26.79
	Earnings	2.57	0.84	2.18	4.53	2.95	2.26	3.28	3.64	4.02	3.94
	Cash flow	5.15	6.39	6.81	5.53	6.33	5.81	5.86	6.92	8.93	8.89
	Capex	(7.67)	(7.33)	(4.95)	(2.33)	(6.12)	(6.29)	(7.11)	(8.18)	(7.83)	(11.55)
	Free cash flow	(2.52)	(0.93)	1.86	3.20	0.21	(0.47)	(1.25)	(1.26)	1.10	(2.66)
	Book value	28.11	25.85	28.75	30.64	30.74	30.69	32.12	32.26	33.46	35.24
	Shares, m	951	1,000	1,020	1,046	1,058	1,061	1,075	1,092	1,096	1,103
Valuation, ×
Valuation, ×	P/E	18.93	56.15	20.05	14.00	20.82	30.35	21.85	19.46	20.48	22.13
	P/S	2.34	2.05	1.91	3.11	3.19	3.15	2.64	3.06	3.38	3.25
	P/B	1.88	1.85	1.54	2.10	2.02	2.25	2.24	2.20	2.46	2.47
	EV/Sales	4.52	4.06	3.72	5.11	5.52	5.33	4.45	5.40	5.71	5.63
	EV/FCF	(37.43)	(100.21)	45.97	32.69	504.52	(246.48)	(96.82)	(98.92)	126.99	(56.72)
Cash, $m
Cash, $m	Operating cash flow	4,894	6,394	6,945	5,781	6,696	6,169	6,302	7,553	9,788	9,802
	Capex	(7,295)	(7,326)	(5,045)	(2,433)	(6,473)	(6,669)	(7,648)	(8,931)	(8,586)	(12,736)
	Free cash flow	(2,401)	(932)	1,900	3,348	223	(500)	(1,346)	(1,378)	1,202	(2,934)
Balance, $m
Balance, $m	Working capital	(3,195)	(3,522)	(4,703)	(2,729)	(3,462)	(1,956)	(5,308)	(3,035)	(5,299)	(5,971)
	Total debt	45,216	48,354	43,934	44,787	48,580	52,277	54,941	59,686	63,486	71,869
	Net debt	43,241	46,224	42,538	42,812	47,515	50,479	53,024	58,938	62,416	70,230
	Shareholders’ equity	26,730	25,852	29,330	32,050	32,525	32,567	34,532	35,225	36,674	38,867
Returns, %
Returns, %	ROA	2.60	0.76	1.95	4.02	2.58	1.91	2.69	2.90	3.09	2.89
	ROIC	4.01	2.02	3.64	6.46	3.81	2.78	3.83	3.87	4.46	4.17
	ROE	10.80	3.35	8.16	15.59	9.75	7.42	10.55	11.40	12.24	11.49

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NEE NextEra Energy, Inc.	$164.7B	17.9×	21.6×	+12.45% (above 0%: growing)	+53.06% (above 0%: growing)	−46.89% (below 0%: shrinking)	81.76%	29.71%	Compare
SO Southern Company (The)	$102.6B	21.9×	20.8×	+0.06% (above 0%: growing)	+28.75% (above 0%: growing)	+23.51% (above 0%: growing)	75.71%	25.46%
DUK Duke Energy Corporation	$92.7B	18.2×	18.4×	+1.12% (above 0%: growing)	+10.40% (above 0%: growing)	−233.81% (below 0%: shrinking)	73.06%	26.99%	Compare
NGG National Grid Transco, PLC	$79.5B	22.3×	13.6×	+10.37% (above 0%: growing)	+115.14% (above 0%: growing)	−2,663.95% (below 0%: shrinking)	23.34%	0.00%	Compare
AEP American Electric Power Company, Inc.	$67.7B	21.8×	20.3×	+7.04% (above 0%: growing)	−42.79% (below 0%: shrinking)	−28.81% (below 0%: shrinking)	70.56%	22.90%	Compare
D Dominion Energy Inc.	$55.3B	22.2×	18.6×	+17.59% (above 0%: growing)	−57.95% (below 0%: shrinking)	+31.64% (above 0%: growing)	67.68%	7.34%	Compare
ETR Entergy Corporation	$49.7B	26.5×	25.3×	+5.85% (above 0%: growing)	−1.87% (below 0%: shrinking)	−16.71% (below 0%: shrinking)	69.73%	24.13%	Compare
XEL Xcel Energy Inc.	$46.9B	20.8×	19.2×	−5.11% (below 0%: shrinking)	+23.68% (above 0%: growing)	−37.30% (below 0%: shrinking)	75.22%	22.64%	Compare
EXC Exelon Corporation	$43.9B	15.9×	16.0×	+9.95% (above 0%: growing)	0.00%	+49.00% (above 0%: growing)	62.95%	16.41%	Compare
Median of peers	$61.5B	21.3×	18.9×	+8.50%	+5.20%	−33.05%	70.15%	22.77%

All 40 Utilities Regulated Electric stocks →

Southern Company (The) (SO) key facts

Concern: Net income was $4.2 billion, or $3.94 per share (basic), a net margin of 14.7%.
Strength: Southern Company (The)’s revenue for fiscal 2025 (year ended December 2025) was $29.6 billion, up 10.6% from fiscal 2024.
Southern Company (The) (SO) is an Utilities Regulated Electric company in the Utilities sector, listed on the New York Stock Exchange.
As of October 16, 2026, SO traded at $91.18, a market capitalization of $102.6 billion.
At that price the stock trades at 21.9× trailing-twelve-month earnings and 3.4× sales; its P/E is higher than 60% of its own readings over the past ten years.
Southern Company (The) pays an annual dividend of $3.00 per share, a yield of 3.29%, with a payout ratio of 71.9%.
Return on equity was 11.5% and debt-to-equity 1.73.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 0.93 (distress zone) for fiscal 2025.