Southern Co (SO)

The Southern Company, through its subsidiaries, engages in the sale of electricity. The company offers electric service to retail customers and wholesale customers; and energy-related products and services to natural gas choice markets. It also develops, constructs, acquires, owns, operates, and manages power generation assets, as well as battery energy storage projects; sells electricity at market-based rates in the wholesale market; and deploys microgrids for commercial, industrial, governmental, and utility customers. In addition, the company is involved in the distribution of natural gas in Illinois, Georgia, Virginia, and Tennessee; distributes energy and resilience solutions; and invests in telecommunications. The Southern Company was incorporated in 1945 and is headquartered in Atlanta, Georgia.

Symbol: SO
Exchange: NYSE
Sector: Utilities
Industry: Utilities - Regulated Electric
Market cap: $94.11B
52 week range: 81.69 - 100.84

Valuation

Share price: $83.47 (close of 2026-10-01)
P/E (TTM): 21.19x
Price to book: 2.36x
Price to free cash flow: -27.15x
Enterprise value: $169.13B
Book value per share: $35.40

Price performance

Period	Change
1 day	+0.70%
5 days	+0.70%
1 month	-5.24%
3 months	-12.25%
6 months	-13.90%
Year to date	-4.28%
1 year	-11.95%
3 years	+28.97%
5 years	+35.17%
10 years	+62.71%
All time	+2174.39%

Members of Congress who disclosed SO trades

Jared Moskowitz · Marjorie Taylor Greene · Val Hoyle

Profitability and growth

Return on equity: 11.17%
Return on invested capital: 5.80%
Return on assets: 2.79%
Return on capital employed: 5.25%
Gross margin: 24.65%
Net margin: 14.69%
EBITDA margin: 45.05%
Revenue growth: 10.59%
Net income growth: -1.36%
Free cash flow growth: -452.34%

Cash flow and balance sheet

Free cash flow yield (TTM): -3.68%
Current ratio: 0.65x
Net debt to EBITDA: 5.17x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $29.55B
Cost of revenue: $22.27B
Gross profit: $7.29B
EBITDA: $13.31B
Net income: $4.34B
Earnings per share: $3.94
Interest expense: $3.24B
Shares outstanding: 1.10B

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$29.55B	$7.29B	$4.34B	$3.94
2024-12-31	$26.72B	$7.07B	$4.40B	$4.02
2023-12-31	$25.25B	$5.83B	$3.98B	$3.64
2022-12-31	$29.28B	$5.37B	$3.43B	$3.28
2021-12-31	$23.11B	$3.70B	$2.31B	$2.26
2020-12-31	$20.38B	$4.88B	$3.10B	$2.95
2019-12-31	$21.42B	$7.74B	$4.74B	$4.53
2018-12-31	$23.50B	$4.19B	$2.30B	$2.18
2017-12-31	$23.03B	$2.33B	$926.00M	$0.84
2016-12-31	$19.90B	$4.49B	$2.53B	$2.57

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	24.65%	14.69%	11.17%	5.80%
2024-12-31	26.45%	16.47%	12.00%	5.99%
2023-12-31	23.07%	15.74%	11.29%	5.44%
2022-12-31	18.34%	11.71%	9.93%	4.99%
2021-12-31	16.00%	9.99%	7.15%	10.13%
2020-12-31	23.98%	15.23%	9.63%	13.27%
2019-12-31	36.12%	22.15%	14.94%	17.51%
2018-12-31	17.84%	9.79%	7.92%	12.25%
2017-12-31	10.13%	4.02%	3.63%	8.48%
2016-12-31	22.55%	12.71%	9.50%	13.15%

Cash and debt by year

Period end	Cash
2025-12-31	$1.64B
2024-12-31	$1.07B
2023-12-31	$748.00M
2022-12-31	$1.92B
2021-12-31	$1.80B
2020-12-31	$1.06B
2019-12-31	$1.98B
2018-12-31	$1.40B
2017-12-31	$2.13B
2016-12-31	$1.98B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	-$2.94B	-
2024-12-31	$833.00M	-
2023-12-31	-$1.54B	-
2022-12-31	-$1.62B	-
2021-12-31	-$1.42B	-
2020-12-31	-$826.00M	-
2019-12-31	-$1.77B	-
2018-12-31	-$1.06B	-
2017-12-31	-$1.03B	-
2016-12-31	-$2.42B	$3.00M