SO

MKT CAP:$105B

The Southern Company

Market Cap

$105B

Utilities·Regulated Electric·🇺🇸 United States·NYSE

Utilities·Regulated Electric·🇺🇸·NYSE

Stock Price

$93.38+$6.19 (+7.11%)

Apr 24, 2026

Company Details

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through Gas Distribution Operations, Gas Pipeline Investments, Wholesale Gas Services, and Gas Marketing S...

CEO

Christopher C. Womack

IPO Date

Dec 31, 1981

Website

www.southerncompany.com

Key Metrics TTM

Revenue

$28.7B

+7.2% YoY

Net Income

$4.8B

EPS (Diluted)

$4.33

Free Cash Flow

-$772M

Revenue / Share

$25.90

Gross Margin

44.6%

Operating Margin

26.4%

Net Margin

16.7%

FCF Margin

-2.7%

P/S

3.6x

P/E

21.8x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

Q4 2025

Feb 18, 2026

$7.0BEPS $0.37

Q3 2025

Oct 29, 2025

$7.8B+7.5%EPS $1.54

Q3 2024

Oct 30, 2024

$7.3B+4.2%EPS $1.39

Q1 2024

May 1, 2024

$6.6BEPS $1.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$4.0B	$1.8B	$940M
Q2 16	$4.5B	$2.1B	$1.2B
Q1 17	$5.8B	$2.4B	$1.3B
Q4 17	$5.6B	$2.1B	$794M
Q1 18	$6.4B	$2.5B	$1.4B
Q2 20	$4.6B	$2.4B	$1.1B
Q2 21	$5.2B	$2.4B	$708M
Q3 21	$6.2B	$3.1B	$1.7B
Q3 22	$8.4B	$3.4B	$2.2B
Q3 23	$7.0B	$3.8B	$2.1B
Q1 24	$6.6B	$3.2B	$1.7B
Q3 24	$7.3B	$4.0B	$2.4B
Q3 25	$7.8B	$4.3B	$2.6B
Q4 25	$7.0B	$1.3B	$911M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q1 17	—	—
Q4 17	2.4x	20.7x
Q1 18	2.0x	16.3x
Q2 20	2.4x	20.0x
Q2 21	3.0x	26.8x
Q3 21	3.0x	21.8x
Q3 22	3.1x	21.3x
Q3 23	2.6x	15.6x
Q1 24	2.8x	15.2x
Q3 24	3.4x	17.8x
Q3 25	3.6x	17.9x
Q4 25	3.4x	20.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$865M	-$1.1B
Q2 16	$1.3B	-$250M
Q1 17	$897M	-$591M
Q4 17	$1.1B	-$1.0B
Q1 18	$1.5B	-$272M
Q2 20	$2.0B	$311M
Q2 21	$1.7B	-$44M
Q3 21	$2.2B	$339M
Q3 22	$1.4B	-$851M
Q3 23	$2.8B	$177M
Q1 24	$1.3B	-$597M
Q3 24	$3.6B	$1.3B
Q3 25	$3.8B	$384M
Q4 25	$2.6B	-$1.9B

Capital Expenditures

Quarter	CapEx
Q1 16	$2.0B
Q2 16	$1.5B
Q1 17	$1.5B
Q4 17	$2.2B
Q1 18	$1.8B
Q2 20	$1.6B
Q2 21	$1.7B
Q3 21	$1.8B
Q3 22	$2.3B
Q3 23	$2.7B
Q1 24	$1.9B
Q3 24	$2.3B
Q3 25	$3.4B
Q4 25	$4.5B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 18	+59.6%	+63.7%
Q2 20	+3.6%	+8.8%
Q2 21	-9.9%	-0.6%
Q3 21	+10.8%	-6.6%
Q3 22	+31.5%	+23.8%
Q3 23	+51.1%	+36.7%
Q1 24	+27.9%	+10.1%
Q3 24	+16.6%	+8.7%
Q3 25	-6.6%	-15.5%
Q4 25	+0.0%	+24.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$58M	1.5%
Q2 16	$11M	0.2%
Q1 17	$61M	1.1%
Q4 17	$14M	0.2%
Q1 18	$69M	1.1%
Q2 20	$12M	0.3%
Q2 21	$22M	0.4%
Q3 21	$29M	0.5%
Q3 22	$16M	0.2%
Q3 23	$8M	0.1%
Q1 24	$83M	1.2%
Q3 24	$23M	0.3%
Q3 25	$22M	0.3%
Q4 25	$0	0.0%

Revenue Segments

Quarter	Southern Power	Traditional Operating Companies
Q1 16	$315M	$3.7B
Q2 16	$373M	$4.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.7B	$0	$1.7B
Q2 22	$1.7B	$0	$1.7B
Q3 22	$2.0B	$0	$2.0B
Q4 22	$1.9B	$0	$1.9B
Q1 23	$1.1B	$0	$1.1B
Q2 23	$2.1B	$0	$2.1B
Q3 23	$1.7B	$0	$1.7B
Q4 23	$748M	$0	$748M
Q1 24	$713M	$0	$713M
Q2 24	$1.2B	$0	$1.2B
Q3 24	$1.0B	$0	$1.0B
Q4 24	$1.1B	$0	$1.1B
Q1 25	$2.3B	$0	$2.3B
Q2 25	$1.3B	$0	$1.3B
Q3 25	$3.3B	$0	$3.3B
Q4 25	$1.6B	$0	$1.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	918M	—	—
Q2 16	942M	+2.5%	—
Q1 17	1.00B	+6.2%	—
Q4 17	1.01B	+0.8%	—
Q1 18	1.01B	+0.4%	+10.2%
Q2 20	1.06B	+5.1%	+12.9%
Q2 21	1.07B	+0.4%	+6.7%
Q3 21	1.07B	+0.1%	+6.0%
Q3 22	1.09B	+1.9%	+7.5%
Q3 23	1.10B	+1.0%	+3.4%
Q1 24	1.10B	+0.1%	+3.1%
Q3 24	1.10B	+0.3%	+3.3%
Q3 25	1.11B	+0.6%	+2.0%
Q4 25	1.11B	-0.1%	+0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$149.5K	27K
Q2 16	$167.0K	27K
Q1 17	$180.3K	32K
Q4 17	$179.6K	31K
Q1 18	$203.3K	31K
Q2 20	$165.3K	28K
Q2 21	$187.7K	28K
Q3 21	$225.2K	28K
Q3 22	$306.9K	27K
Q3 23	$252.0K	28K
Q1 24	$239.9K	28K
Q3 24	$262.6K	28K
Q3 25	$273.5K	29K
Q4 25	$234.3K	30K

Revenue / Employee