— Know what they know.
/
Not Investment Advice

SO

NYSE · USD
The Southern Company
Utilities · Regulated Electric
CEO Christopher C. Womack Employees 29,800 R&D / revenue 0.0%
Last price
$91.18+2.24%last session
Market cap
$104.9B
P/E (TTM)
21.9x
From 52w high
−8.4%
From 52w low
+11.6%
1-year return
−4.3%
RSI 14 · vs SMA200
72.9 · +0.1%
IS score
43.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

SO   SPY   XLU (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26SPY 116SO 96XLU 92

Score DNA

Each bar is a 0-100 score within the scored universe
57
Profitability
50
Growth
53
Value
79
Momentum
15
Risk (safety)
70
Quality
24
Balance sheet
80
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
▲ Altman distress zone▲ Share count rising
Observations
Moat model: Weak, Cost AdvantagePiotroski 8 / 9Altman Z 1.0Beta 0.323 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
9 open-market sales, $870,608
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+9
147 new holders, 113 closed
2,376 filers hold 74.4% · 1,109 added, 731 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+404
1,138 funds adding shares
734 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
79.1%
20-day avg 59.9%, 50-day avg 53.9%
Latest 19.2 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$29.6B
Revenue growth YoY+10.6%
Gross margin29.8%
Operating income$7.3B
Operating margin24.6%
Net income$4.3B
Net margin14.7%
EPS (diluted)$3.92
Cash flow
Operating cash flow$9.8B
Capital expenditure$13.4B
Free cash flow−$3.6B
FCF conversion (FCF / OCF)-36.6%
Stock-based compensation$136.0M
FCF less SBC−$3.7B
Buybacks$0
Dividends$3.0B
Balance sheet & returns
Cash & short-term investments$1.6B
Total debt$65.8B
Net debt$64.2B
Shareholders' equity$38.9B
Goodwill & intangibles$5.5B
Debt / equity1.95
ROE (TTM)12.6%
ROIC (TTM)4.1%
Operating margin by fiscal year
16.0%FY202118.3%FY202223.1%FY202326.4%FY202424.6%FY2025
Revenue $23.1B (FY2021) to $29.6B (FY2025), a 6.3% CAGR.

Valuation

P/E (TTM)21.9x
EV / EBITDA12.4x
Price / sales3.48x
Price / FCF40.8x
FCF yield2.45%
Buyback yield0.00%
SBC / revenue0.4%
Price / book2.62x
Forward P/E FY202619.8x
Forward P/E FY202718.5x
Forward P/E FY202817.0x
Forward multiples divide today's price by Street EPS estimates. Street mean target $93.38 across 8 analysts last quarter is theirs, not ours.

SO vs industry median

139 companies in Regulated Electric
Gross margin 43.4% 39.0% Operating margin 24.2% 19.1% Net margin 15.4% 13.0% ROIC 4.1% 5.7%
SO (TTM)Industry median Asset turnover 0.19 vs industry 0.24 · financial leverage 4.09

Earnings delivery

Next report 2026-11-05 · consensus EPS $1.70
83%
beat rate, 10 of 12 quarters
+6.7%
median EPS surprise
5
longest beat streak
+8+7+13+20+7-1+3+4+6-1+9+12
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
SO The Southern Company $104.9B21.9x12.6%15.4%+10.6% −4.3%
DUK Duke Energy Corporation $94.7B18.2x9.9%14.4%+6.7% −1.3%
AEP American Electric Power Comp $69.2B21.8x10.1%13.1%+7.7% +9.0%
NEE NextEra Energy, Inc. $166.5B17.9x17.2%41.7%+12.1% −5.6%
D Dominion Energy, Inc. $55.9B22.0x9.1%7.5%+20.3% +6.1%
ETR Entergy Corporation $50.2B26.5x10.5%13.8%+9.5% —
XEL Xcel Energy Inc. $47.7B20.8x9.9%18.8%+4.7% —
ELC Entergy Louisiana, LLC COLLA $45.8B4.6x12.6%13.7%+9.5% —
12-month window: SPY +15.9%, sector ETF XLU −8.1%. Past returns describe history only.

Recent 8-K filings

No 8-K filings on file.

Context

Shares outstanding1,150,360,000
Free float99.8%
Institutional ownership74.4%
Beta0.32
Dividend yield3.29%
Last dividend$0.76 on 2026-08-17
50 / 200-day average$87.85 / $92.17
Large-cap Utilities median P/E20.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where SO sits among 45 scored companies in Regulated Electric (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureSOIndustry medianIndustry percentileSector median
P/E (TTM) 22.5x 19.6x
84th		 20.7x
PEG (P/E ÷ 3-yr EPS CAGR) 1.71 1.94
42nd		 2.20
Price / sales 3.5x 2.4x
86th		 2.4x
Price / book 2.7x 1.8x
93rd		 1.9x
Price / tangible book 3.2x 2.0x
91st		 2.1x
Price / free cash flow 40.8x 13.7x
79th		 34.3x
Price / operating cash flow 10.2x 9.1x
77th		 9.2x
Enterprise value $179.0B $51.2B
95th		 $25.7B
EV / sales 5.9x 3.9x
89th		 4.5x
EV / EBITDA 12.5x 11.6x
64th		 11.9x
EV / EBIT 22.0x 19.5x
75th		 19.6x
EV / free cash flow 69.6x 25.9x
79th		 35.3x
Earnings yield 4.4% 5.1%
16th		 4.8%
FCF yield 2.5% -1.8%
66th		 -4.2%
Operating cash flow yield 9.8% 10.7%
26th		 10.3%
Graham number (per share) $56.43 $56.02
52nd		 $48.77

Profitability (TTM)

MeasureSOIndustry medianIndustry percentileSector median
Gross margin 43.4% 43.4%
43rd		 43.4%
EBITDA margin 47.5% 40.2%
84th		 38.7%
Operating margin 24.2% 22.2%
73rd		 20.9%
EBIT margin 27.0% 23.8%
75th		 23.2%
Net margin 15.4% 13.5%
73rd		 12.4%
NOPAT margin 21.0% 19.3%
70th		 18.1%
FCF margin 8.5% -5.6%
68th		 -7.6%
Operating cash flow margin 34.0% 29.1%
73rd		 28.3%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 0.0% 3.8%
0th		 4.2%
Stock comp / revenue 0.4% 0.0%
98th		 0.0%
Effective tax rate 13.0% 13.7%
39th		 18.4%

Returns on capital

MeasureSOIndustry medianIndustry percentileSector median
ROE (on average equity) 12.7% 10.5%
82nd		 9.5%
ROA 3.0% 2.7%
61st		 2.6%
ROIC 5.6% 5.5%
55th		 5.5%
ROCE 5.6% 5.3%
70th		 5.1%
Return on tangible assets 5.2% 4.9%
77th		 4.7%
Cash ROIC (OCF / invested capital) 9.0% 8.6%
61st		 8.0%
Gross profitability (GP / assets) 8.1% 9.1%
36th		 8.6%
ROIC, 3-yr average 4.7% 4.4%
70th		 4.2%
ROIC, 5-yr average 4.6% 4.3%
60th		 4.2%
ROE, 5-yr average 11.8% 10.7%
74th		 9.1%
Incremental ROIC 22.2% 21.9%
52nd		 20.6%

Growth

MeasureSOIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 6.4% 8.0%
20th		 7.2%
Revenue growth (QoQ) -16.9% -16.9%
50th		 -16.9%
Revenue CAGR, 3 yr 3.0% 2.8%
52nd		 3.0%
Revenue CAGR, 5 yr 6.7% 5.6%
64th		 6.3%
Gross profit CAGR, 3 yr 6.9% 8.0%
43rd		 7.9%
Operating income CAGR, 3 yr 14.7% 10.5%
64th		 9.4%
Net income growth (TTM YoY) 8.7% 8.5%
52nd		 8.6%
Net income CAGR, 3 yr 14.7% 9.5%
70th		 8.8%
EPS growth (TTM YoY) 5.3% 2.3%
55th		 4.2%
EPS CAGR, 3 yr 13.2% 6.6%
77th		 6.6%
EPS CAGR, 5 yr 6.6% 4.1%
70th		 4.0%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr 22.1% 17.7%
72nd		 12.7%
Book value CAGR, 3 yr 7.5% 4.8%
68th		 4.7%
Dividend CAGR, 3 yr 0.2% 0.3%
40th		 0.3%
Sustainable growth rate 4.2% 3.8%
64th		 3.7%

Margin history & stability

MeasureSOIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 47.3% 44.0%
61st		 42.6%
Operating margin, 3-yr average 25.4% 21.9%
91st		 20.0%
Net margin, 3-yr average 16.1% 13.0%
80th		 12.5%
FCF margin, 3-yr average 0.7% -4.3%
68th		 -7.9%
Revenue stability (0-1) 0.85 0.75
68th		 0.75
Earnings stability (0-1) 0.74 0.43
73rd		 0.51
Margin stability (0-1) 0.90 0.83
80th		 0.84

Liquidity (latest quarter)

MeasureSOIndustry medianIndustry percentileSector median
Cash & short-term investments $3.0B $241.0M
89th		 $215.5M
Net cash (− = net debt) −$74.1B −$24.6B
7th		 −$12.1B
Working capital −$3.4B −$794.4M
14th		 −$284.5M
Current ratio 0.79 0.80
39th		 0.82
Quick ratio 0.58 0.66
36th		 0.69
Cash ratio (cash + ST investments / current liabilities) 0.19 0.07
75th		 0.08
Defensive interval (days) 436 days 286 days
71st		 314 days

Leverage & solvency (latest quarter)

MeasureSOIndustry medianIndustry percentileSector median
Total debt $77.1B $25.1B
86th		 $12.5B
Debt / equity 1.95 1.68
68th		 1.61
Net debt / equity 1.87 1.67
64th		 1.60
Debt / assets 47.6% 44.6%
80th		 43.4%
Debt / capital 66.1% 62.7%
68th		 61.8%
Debt / EBITDA 5.37 5.59
32nd		 5.59
Net debt / EBITDA 5.17 5.54
27th		 5.53
Interest coverage (EBIT / interest) 2.5x 2.4x
59th		 2.4x
Cash interest coverage 3.1x 3.1x
55th		 3.0x
Debt payback (years of OCF) 7.5 yrs 7.5 yrs
51st		 7.5 yrs
Liabilities / assets 73.9% 73.0%
52nd		 70.8%
IS credit model rating B — —
Implied credit spread (bps) 750 750
34th		 750

Efficiency

MeasureSOIndustry medianIndustry percentileSector median
Asset turnover 0.19 0.21
32nd		 0.20
Fixed asset turnover 0.25 0.27
40th		 0.27
Inventory turnover 5.4 6.7
39th		 8.7
Receivables turnover 13.7 8.7
95th		 8.4
Days sales outstanding 27 days 41 days
2nd		 43 days
Days inventory outstanding 68 days 54 days
60th		 42 days
Days payables outstanding 68 days 77 days
37th		 75 days
Cash conversion cycle (days) 27 days 15 days
65th		 14 days
Capex / revenue 25.4% 33.3%
33rd		 35.1%
Capex / depreciation 1.24 2.35
21st		 2.40
Operating expense ratio 25.8% 30.3%
36th		 30.7%

Cash flow & earnings quality

MeasureSOIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.20 2.19
52nd		 2.20
FCF / net income 0.55 −0.32
68th		 −0.74
FCF / operating cash flow 25.1% -20.3%
73rd		 -33.3%
Capex / operating cash flow 74.9% 120.3%
24th		 133.3%
Accruals ratio -3.6% -3.3%
41st		 -3.2%
Sloan accruals ratio -3.7% -3.7%
45th		 -3.7%
Earnings quality score (0-1) 1.00 1.00
16th		 1.00

Dividends & buybacks

MeasureSOIndustry medianIndustry percentileSector median
Dividend yield 3.3% 3.3%
43rd		 3.3%
Dividend per share (TTM) $3.00 $2.56
64th		 $1.87
Payout ratio (dividends / net income) 66.6% 65.4%
52nd		 63.9%
Dividends / FCF 120.5% 59.8%
78th		 65.6%
Dividend growth (YoY) 1.4% 3.9%
30th		 3.9%
Buyback yield 0.0% 0.0%
0th		 0.0%
Shareholder yield (dividends + buybacks) 3.0% 3.3%
30th		 3.3%
Share count change (YoY) 3.3% 2.2%
75th		 2.5%
Buybacks, last 5 years $0 $0
0th		 $0

Scores & forensic checks

MeasureSOIndustry medianIndustry percentileSector median
IS score 43 42
61st		 40
IS profitability 57 50
70th		 44
IS growth 50 49
57th		 50
IS value 53 58
16th		 56
IS momentum 79 77
59th		 78
IS risk (safety) 15 15
0th		 15
IS quality 70 66
73rd		 64
IS balance sheet 24 25
32nd		 28
IS earnings quality 80 79
57th		 79
IS cash flow 46 35
73rd		 35
Piotroski F-score (0-9) 8 6
75th		 6
Altman Z-score 1.0 0.8
73rd		 0.9
Beneish M-score −2.73 −2.60
37th		 −2.64
Ohlson O-score −7.49 −7.06
23rd		 −7.04
IS credit score 26 27
43rd		 29

Per share

MeasureSOIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $4.08 $3.90
59th		 $3.13
Book value per share $34.68 $34.68
43rd		 $32.52
Tangible book per share $32.45 $34.58
32nd		 $32.45
Revenue per share $26.45 $27.50
39th		 $24.86
FCF per share $2.26 −$1.01
70th		 −$1.64
Operating cash flow per share $8.98 $8.38
55th		 $7.00
Cash per share $2.62 $0.80
75th		 $0.83

Size (TTM)

MeasureSOIndustry medianIndustry percentileSector median
Market cap $104.9B $21.5B
98th		 $8.5B
Revenue $30.2B $12.5B
89th		 $5.4B
EBITDA $14.3B $4.3B
91st		 $2.7B
Net income $4.7B $1.3B
86th		 $559.7M
Free cash flow $2.6B −$189.0M
82nd		 −$190.6M
Total assets $162.0B $56.2B
86th		 $34.0B
Shareholders' equity $39.6B $12.5B
86th		 $5.1B
Employees 29,651 9,950
100th		 5,870

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-01Etheredge James O
Director
 Award / grant 539——3,447
2026-10-01Johns John D
Director
 Award / grant 539——89,846
2026-10-01Grain David J
Director
 Award / grant 973——88,597
2026-10-01Smith William G Jr
Director
 Award / grant 988——165,393
2026-10-01Svinicki Kristine L
Director
 Award / grant 539——12,235
2026-10-01Meador David E
Director
 Award / grant 914——11,159
2026-10-01Turner John M Jr
Director
 Award / grant 914——4,359
2026-10-01Thomas Lizanne
Director
 Award / grant 539——8,363
2026-10-01Earley Anthony F Jr
Director
 Award / grant 539——32,408
2026-10-01Earley Anthony F Jr
Director
 Award / grant 262——1,136
2026-10-01Akella Janaki
Director
 Award / grant 539——21,899
2026-10-01Cooper Shantella E.
Director
 Award / grant 539——33,424

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired2414,691—
Open-market saleDisposed99,599$870,608
Option exerciseAcquired28,374—
Option exerciseDisposed27,565—
Tax withholdingDisposed23,730$353,496
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

FiledFilerShares proposedEst. proceeds
None on file.
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 5 trades (4 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-01-29Ro KhannaHouseSale$1,001 - $15,0002026-02-10
2025-12-02Jared MoskowitzHousePurchase$1,001 - $15,0002026-01-19
2025-12-02Jared MoskowitzHousePurchase$1,001 - $15,0002026-01-19
2020-04-16David PerdueSenateSale (Full)$1,001 - $15,0002021-05-02
2020-04-16David PerdueSenateSale (Full)$1,001 - $15,0002021-05-01
2020-04-16David PerdueSenateSale (Full)$1,001 - $15,0002021-05-01
2020-04-16David PerdueSenateSale (Full)$1,001 - $15,0002020-05-08
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.92,990,716$8.9B8.08%
VANGUARD CAPITAL MANAGEMENT LLC73,665,124$7.1B6.40%
STATE STREET CORP64,809,708$6.2B5.63%
Capital World Investors62,518,698$6.0B5.43%
PRICE T ROWE ASSOCIATES INC /MD/46,415,904$4.4B4.03%
JPMORGAN CHASE & CO29,619,438$2.9B2.57%
GEODE CAPITAL MANAGEMENT, LLC29,315,285$2.8B2.55%
VANGUARD PORTFOLIO MANAGEMENT LLC27,023,691$2.6B2.35%
FMR LLC22,537,244$2.2B1.96%
FRANKLIN RESOURCES INC16,561,908$1.6B1.44%
GOLDMAN SACHS GROUP INC14,582,492$1.4B1.27%
NORGES BANK14,358,862$1.4B1.25%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/13,831,354$1.3B1.20%
AMERIPRISE FINANCIAL INC9,568,912$915.8M0.83%
NORTHERN TRUST CORP8,705,779$833.2M0.76%

Institutional ownership by quarter

2023-092026-0674.4%
% of shares held by 13F filers
2023-092026-062,376
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,37674.4%1471,109731113
2026-03-312,36769.5%22898678396
2025-12-312,27470.1%246866806142
2025-09-302,22270.5%16793573695
2025-06-302,18568.2%128941734125
2025-03-312,21066.0%227907742104
2024-12-312,12865.7%274876675125
2024-09-302,01065.4%21777670376
2024-06-301,89164.4%17974165389
2024-03-311,82862.6%127731692111
2023-12-311,84061.6%24264871384
2023-09-301,71361.0%124658662115

Schedule 13D / 13G filers

FiledFormFiler% of classShares
None on file.
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.13%$3.0B
VSMPX0.13%$3.0B
VTSAX0.13%$3.0B
VTI0.13%$3.0B
VOO0.14%$2.5B
VFFSX0.14%$2.5B

Share structure

Shares outstanding1,150,360,000
Float1,147,648,109
Free float99.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$23.1B$29.3B$25.3B$26.7B$29.6B
Cost of revenue$12.9B$18.7B$13.5B$13.4B$20.7B
Gross profit$10.2B$10.6B$11.7B$13.3B$8.8B
R&D$0$0$0$0$0
SG&A$0$0$0$0$0
Operating income$3.7B$5.4B$5.8B$7.1B$7.3B
EBITDA$8.4B$10.3B$11.8B$13.2B$14.3B
Pretax income$2.6B$4.2B$4.3B$5.2B$5.0B
Income tax$267.0M$795.0M$496.0M$969.0M$828.0M
Net income$2.4B$3.5B$4.0B$4.4B$4.3B
EPS, diluted$2.26$3.26$3.62$3.99$3.92
Diluted shares1.1B1.1B1.1B1.1B1.1B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$1.8B$1.9B$748.0M$1.1B$1.6B
Receivables$3.0B$3.7B$4.0B$4.3B$4.1B
Inventory$2.4B$2.7B$3.4B$3.4B$3.3B
Total current assets$9.0B$10.4B$10.4B$10.7B$10.9B
PP&E, net$93.5B$96.7B$101.9B$106.7B$114.4B
Goodwill & intangibles$5.7B$5.6B$5.5B$5.5B$5.5B
Total assets$127.5B$134.9B$139.3B$145.2B$155.7B
Accounts payable$2.2B$3.5B$2.9B$3.7B$3.7B
Total current liabilities$10.9B$15.7B$13.5B$16.0B$16.9B
Long-term debt$50.1B$50.7B$57.2B$58.8B$65.6B
Total liabilities$95.0B$100.4B$104.1B$108.5B$116.9B
Shareholders' equity$32.6B$34.5B$35.2B$36.7B$38.9B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$2.3B$3.4B$4.0B$4.3B$4.2B
Depreciation & amortization$4.0B$4.1B$5.0B$5.3B$6.0B
Stock-based compensation$144.0M$127.0M$137.0M$132.0M$136.0M
Change in working capital−$990.0M$160.0M−$135.0M$1.4B$399.0M
Operating cash flow$6.2B$6.3B$7.6B$9.8B$9.8B
Capital expenditure−$7.2B−$7.9B−$9.1B−$9.0B−$13.4B
Free cash flow−$1.1B−$1.6B−$1.5B$833.0M−$3.6B
Investing cash flow−$7.4B−$8.4B−$9.7B−$9.4B−$14.0B
Net debt issued / repaid$4.8B$4.1B$4.4B$3.0B$6.8B
Buybacks$0$0$0$0$0
Dividends paid−$2.8B−$2.9B−$3.0B−$3.0B−$3.0B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin43.5%37.1%46.4%49.9%43.5%
Operating margin16.0%18.3%23.1%26.4%24.6%
Net margin10.4%12.1%15.7%16.5%14.7%
FCF margin-4.6%-5.5%-6.1%2.1%-10.5%
ROE8.5%12.1%12.9%13.6%12.5%
ROIC4.1%5.0%5.5%5.9%6.1%
ROA1.9%2.7%2.9%3.1%2.9%
Debt / equity1.971.942.022.001.83
Interest coverage2.4x3.1x2.8x2.9x2.5x
Current ratio0.820.660.770.670.65
Revenue growth+13.4%+26.7%−13.8%+5.8%+10.6%
EPS growth−23.4%+43.0%+11.6%+9.3%−1.1%
P/E at year end26.1x19.7x18.1x20.1x22.3x
EV / EBITDA at year end13.9x12.3x11.4x11.6x11.3x
FCF yield at year end-1.70%-2.32%-2.15%0.62%-3.22%
Dividend payout115.3%82.2%76.3%67.1%69.5%

Revenue by segment

FY2021FY2022FY2024FY2025
Electric Utilities$1.9B$22.9B——
Southern Company Gas—$6.0B$4.5B$5.0B
Gas Distribution Operations—$5.3B$3.9B$4.4B
Natural Gas Distribution$3.6B———
Southern Power—$3.4B——
Other Natural Gas$2.7B———
Other Natural Gas - Wholesale Gas Services$2.2B———
Natural Gas Distribution - Residential$1.8B———
Other Revenue Sources$1.8B———
Natural Gas Distribution - Transportation$1.0B———
Wholesale Electric - PPA Energy Revenues$854.0M———
Gas Marketing Services—$638.0M$516.0M$582.0M
Natural Gas Distribution - Commercial$470.0M———
Other Natural Gas - Gas Marketing Services$464.0M———
Wholesale Electric - Non-PPA Revenues$398.0M———
Wholesale Electric - PPA Capacity Revenues$323.0M———
Natural Gas Distribution - Other$269.0M———
Corporate and Other—$55.0M——
Natural Gas Distribution - Industrial$49.0M———
Other Natural Gas - Other Natural Gas Revenues$36.0M———
Gas Pipeline Investments—$32.0M$32.0M$32.0M
Other Revenues$30.0M———
Retail Electric$0———
Retail Electric - Commercial$0———
Retail Electric - Residential$0———
Retail Electric - Other$0———
Other Adjustments$0———
Retail Electric - Industrial$0———

Street estimates by fiscal year

Next report 2026-11-05 · consensus EPS $1.70 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$30.6B$30.4B – $30.8B$4.59$4.55 – $4.621319.8x
2027$32.4B$31.9B – $33.0B$4.93$4.85 – $4.971318.5x
2028$34.5B$31.8B – $37.8B$5.38$5.21 – $5.49417.0x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$1.01$1.13+11.9%$7.2B$7.0B−3.5%
2026-04-30$1.21$1.32+9.1%$8.1B$8.4B+4.0%
2026-02-19$0.56$0.55−1.4%$6.1B$7.0B+14.5%
2025-10-30$1.51$1.60+6.0%$7.6B$7.8B+2.7%
2025-07-31$0.88$0.91+4.0%$6.4B$7.0B+9.6%
2025-05-01$1.20$1.23+2.5%$7.2B$7.8B+8.7%
2025-02-20$0.51$0.50−1.2%$5.9B$6.3B+7.4%
2024-10-31$1.34$1.43+6.7%$7.1B$7.3B+1.9%
2024-08-01$0.92$1.10+19.6%$6.1B$6.5B+6.0%
2024-05-02$0.91$1.03+13.2%$6.6B$6.6B+0.8%
2024-02-15$0.60$0.64+6.7%$6.9B$6.0B−12.3%
2023-11-02$1.32$1.42+7.6%$8.3B$7.0B−16.2%
2023-08-03$0.75$0.79+5.3%$6.5B$5.7B−11.2%
2023-04-27$0.71$0.79+11.3%$6.1B$6.5B+5.4%
2023-02-16$0.24$0.26+8.3%$5.0B$7.0B+41.1%
2022-10-27$1.33$1.31−1.5%$6.9B$8.4B+21.7%
2022-07-28$0.84$1.07+27.4%$5.4B$7.2B+32.6%
2022-04-28$0.90$0.97+7.8%$6.0B$6.6B+10.9%
2022-02-17$0.35$0.36+2.9%$4.6B$5.8B+24.9%
2021-11-04$1.22$1.23+0.8%$5.8B$6.2B+8.2%
2021-07-29$0.79$0.84+6.3%$5.0B$5.2B+3.0%
2021-04-29$0.83$0.98+18.1%$5.2B$5.9B+13.5%
2021-02-18$0.42$0.47+11.9%$4.5B$5.1B+13.5%
2020-10-29$1.21$1.22+0.8%$5.6B$5.6B+0.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.606-220.406-290.407-060.307-130.507-200.707-270.708-030.308-100.508-170.708-240.508-31
Week ofNotionalSharesTrades
2026-08-31$549.1M6,222,386111,650
2026-08-24$686.4M7,678,761102,548
2026-08-17$491.8M5,365,078104,649
2026-08-10$335.4M3,638,59880,132
2026-08-03$675.9M7,274,900124,470
2026-07-27$714.7M7,444,838127,861

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1579.1%
DateShort shareShort volumeTotal volume
2026-10-1579.1%2,762,2553,491,076
2026-10-1473.3%1,878,7642,562,273
2026-10-1371.6%1,767,8812,468,920
2026-10-1262.2%854,8821,374,435
2026-10-0962.1%734,0171,182,925
2026-10-0870.0%1,052,2731,503,872
2026-10-0778.9%1,817,7432,303,501
2026-10-0669.0%1,328,5051,924,912
2026-10-0555.3%1,146,3602,073,261
2026-10-0270.8%1,391,8261,967,067
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.6Jan-1.5Feb+2.8Mar+2.5Apr-0.3May-0.2Jun+2.5Jul-0.1Aug+0.2Sep+1.7Oct+1.2Nov+1.4Dec
MonthAvg returnUp yearsYears
Jan+0.6%55%20
Feb−1.5%35%20
Mar+2.8%81%21
Apr+2.5%75%20
May−0.3%40%20
Jun−0.2%60%20
Jul+2.5%80%20
Aug−0.1%50%20
Sep+0.2%75%20
Oct+1.7%75%20
Nov+1.2%65%20
Dec+1.4%65%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1472.9
MFI85.5
ADX33.1
Stochastic %K / %D92.2 / 93.6
Williams %R-0.4
CCI187
TSI / signal12.1 / -15.2
Chaikin money flow0.11
ATR$1.46
Bollinger width11.5%
Volume vs 20-day avg1.30x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$85.38 (+6.8%)
SMA 50$87.72 (+3.9%)
SMA 200$91.13 (+0.1%)
EMA 21$86.81 (+5.0%)
EMA 50$87.81 (+3.8%)
EMA 200$90.01 (+1.3%)
Bollinger upper$90.27 (+1.0%)
Bollinger lower$80.49 (+13.3%)
Parabolic SAR$86.66 (+5.2%)
Open the live chart, 110+ indicators

About The Southern Company

The Southern Company operates as an energy utility, primarily involved in the production, transmission, and distribution of electricity. Its operations are segmented into Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing Services. The company also undertakes the development, construction, acquisition, ownership, and management of various power generation assets, including renewable energy ventures, and supplies electricity to the wholesale market. Complementing its power business, it distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, while also offering gas marketing services, wholesale gas services, and managing gas pipeline investments. Its extensive portfolio of generating assets includes 30 hydroelectric, 24 fossil fuel, three nuclear, 13 combined cycle/cogeneration, 45 solar, 15 wind, one fuel cell, and four battery storage facilities. In terms of natural gas infrastructure, the company builds, operates, and maintains 76,289 miles of pipelines and 14 storage facilities with a total capacity of 157 billion cubic feet, delivering natural gas to residential, commercial, and industrial clients. The Southern Company serves approximately 8.7 million electric and gas utility customers in total. Furthermore, it provides digital wireless communications and fiber optics services. The company was founded in 1945 and maintains its corporate headquarters in Atlanta, Georgia.

https://www.southerncompany.com

Key executives

NameTitlePayBorn
Christopher C. WomackChief Executive Officer, President & Chairman$5.4M1958
Kimberly Scheibe GreeneChairman, President & Chief Executive Officer of Georgia Power$2.9M1966
J. Jeffrey PeoplesChairman, President & Chief Executive Officer of Alabama Power Company$2.5M1960
Daniel S. TuckerSenior Advisor$2.4M1970
Stanley W. Connally Jr.Executive Vice President & Chief Operating Officer$2.3M1969
David PorochExecutive Vice President & Chief Financial Officer$1.6M1970
Matthew KimSVP, Comptroller & Chief Accounting Officer——
Sloane N. DrakeExecutive Vice President & Chief Human Resources Officer—1977

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
David M. Ratcliffe Chairman, President, and Chief Executive Officer (retired December 1, 2010)2010$1.1M$3.1M$5.1M$16.0M
Thomas A. Fanning Chairman, President, and Chief Executive Officer2010$809,892$782,054$2.0M$6.0M
Michael D. Garrett President and Chief Executive Officer, Georgia Power (retired December 31, 2010)2010$695,402$771,870$1.3M$5.5M
W. Paul Bowers Chief Operating Officer, Georgia2010$652,189$1.9M$1.3M$5.3M
Charles D. McCrary President and Chief Executive Officer, Alabama Power2010$704,520$779,192$1.5M$4.5M
G. Edison Holland, Jr. Executive Vice President, General Counsel, and Secretary2010$592,745$514,379$976,992$3.1M

Employees

31k201729k201828k201928k202027k202128k202229k202430k2025

Dividends

Ex-dateAmountPaid
2026-08-17$0.762026-09-08
2026-05-18$0.762026-06-08
2026-02-17$0.742026-03-06
2025-11-17$0.742025-12-08
2025-08-18$0.742025-09-08
2025-05-19$0.742025-06-06
2025-02-18$0.722025-03-06
2024-11-18$0.722024-12-06

Moat model

Weak · Cost Advantage · 2026-06-30
Cost advantage72
Intangibles31
Switching costs43
Network effect40
Efficient scale50
Our component scores (0-100) and overall 46.4; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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