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Financials · SO

Southern Company (SO) financials

For the twelve months ended Mar 31, 2026, Southern Company reported $30.17B of revenue and $4.34B of net income.

Revenue, TTM
$30.17B
Revenue growth, YoY
+7.9%
Net income, TTM
$4.34B
Net income growth, YoY
-5.6%
Net margin
14.4%
Free cash flow, TTM
-$3.47B
EPS, diluted, TTM
$3.91
EPS growth, YoY
-6.2%
Cash
$981.00M
Total debt
$68.82B
P/E
24.50
P/S
3.52
Market cap
$106.22B
Annual revenue$29.55B
FY2016FY2025
Annual net income$4.34B
FY2016FY2025
Annual free cash flow-$2.94B
FY2016FY2025

SO revenue and earnings growth

SO revenueQ1 2026$8.40B

Quarter YoY
+8.0%
QoQ
+20.3%
FY YoY
+10.4%
5Y CAGR
+7.0%
10Y CAGR
+5.4%

SO revenue was $8.40B in fiscal Q1 2026 (ended Mar 31, 2026), up 8.0% from a year earlier and up 20.3% from the prior quarter. For the full fiscal 2025 it was $29.55B, up 10.4% from fiscal 2024. Compound annual growth was +7.0% over 5 years and +5.4% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

SO net incomeQ1 2026$1.36B

Quarter YoY
+1.6%
QoQ
+226.0%
FY YoY
-1.4%
5Y CAGR
+6.8%
10Y CAGR
+6.3%

SO net income was $1.36B in fiscal Q1 2026 (ended Mar 31, 2026), up 1.6% from a year earlier and up 226.0% from the prior quarter. For the full fiscal 2025 it was $4.34B, down 1.4% from fiscal 2024. Compound annual growth was +6.8% over 5 years and +6.3% over 10 years. It rose in 6 of the last 10 fiscal years.

SO EPSQ1 2026$1.20

Quarter YoY
-0.8%
QoQ
+215.8%
FY YoY
-1.8%
5Y CAGR
+6.0%
10Y CAGR
+4.2%

SO diluted EPS was $1.20 in fiscal Q1 2026 (ended Mar 31, 2026), down 0.8% from a year earlier and up 215.8% from the prior quarter. For the full fiscal 2025 it was $3.92, down 1.8% from fiscal 2024. Compound annual growth was +6.0% over 5 years and +4.2% over 10 years.

SO free cash flowQ1 2026-$1.72B

SO free cash flow was -$1.72B in fiscal Q1 2026 (ended Mar 31, 2026), compared with -$1.19B a year earlier. For the full fiscal 2025 it was -$2.94B, compared with $833.00M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$29.55B$26.76B$25.25B$29.28B$23.46B$21.10B$22.60B$25.24B$23.03B$19.90B
Operating income$7.29B$7.07B$5.83B$5.37B$3.70B$4.88B$7.74B$4.19B$2.33B$4.49B
Pre-tax income$5.00B$5.23B$4.34B$4.22B$2.58B$3.50B$6.54B$2.75B$1.07B$3.48B
Income tax$828.00M$969.00M$496.00M$795.00M$267.00M$393.00M$1.80B$449.00M$142.00M$951.00M
Net income$4.34B$4.40B$3.98B$3.52B$2.39B$3.12B$4.74B$2.23B$842.00M$2.45B
EPS, basic$3.94$4.02$3.64$3.28$2.26$2.95$4.53$2.18$0.84$2.57
EPS, diluted$3.92$3.99$3.62$3.26$2.24$2.93$4.50$2.17$0.84$2.55
Diluted shares1.11B1.10B1.10B1.08B1.07B1.06B1.05B1.02B1.01B958.0M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.64B$1.10B$921.00M$2.04B$1.83B$1.07B$1.98B$1.52B$2.15B$1.99B
Current assets$10.92B$10.69B$10.43B$10.42B$8.96B$8.62B$9.82B$9.58B$10.07B$9.72B
Goodwill$5.16B$5.16B$5.16B$5.16B$5.28B$5.28B$5.28B$5.32B$6.27B$6.25B
Total assets$155.72B$145.18B$139.33B$134.89B$127.53B$122.94B$118.70B$116.91B$111.00B$109.70B
Current liabilities$16.89B$15.99B$13.47B$15.72B$10.92B$12.08B$12.55B$14.29B$13.59B$12.92B
Short-term debt$722.00M$1.34B$2.31B$2.61B$1.44B$609.00M$2.06B$2.92B$2.44B$2.24B
Long-term debt$65.65B$58.77B$57.21B$50.66B$50.12B$45.07B$41.80B$40.74B$44.46B$42.63B
Total debt$66.37B$60.11B$59.52B$53.27B$51.56B$45.68B$43.85B$43.65B$46.90B$44.87B
Total liabilities$116.85B$108.51B$104.11B$100.36B$94.97B$90.41B$86.65B$87.58B$85.15B$82.80B
Shareholders' equity$38.87B$36.67B$35.23B$34.53B$32.28B$32.23B$31.76B$29.04B$25.53B$26.61B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$9.80B$9.79B$7.55B$6.30B$6.17B$6.70B$5.78B$6.95B$6.39B$4.89B
Capital expenditures$12.74B$8.96B$9.10B$7.92B$7.59B$7.52B$7.55B$8.00B$7.42B$7.31B
Free cash flow-$2.94B$833.00M-$1.54B-$1.62B-$1.42B-$826.00M-$1.77B-$1.06B-$1.03B-$2.42B
Investing cash flow-$13.96B-$9.40B-$9.67B-$8.43B-$7.35B-$7.03B-$3.39B-$5.76B-$7.19B-$20.05B
Financing cash flow$4.70B-$208.00M$999.00M$2.34B$1.95B-$576.00M-$1.93B-$1.81B$951.00M$15.72B
Dividends paid$3.02B$2.95B$3.04B$2.91B$2.78B$2.69B$2.57B$2.42B$2.30B$2.10B
Share repurchases--------$0$0
Depreciation and amortization$6.03B$5.27B$4.99B$4.06B$3.97B$3.90B$3.33B$3.55B$3.46B$2.92B

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY10.4%6.0%-13.8%24.8%11.2%-6.6%-10.5%9.6%15.8%13.8%
Net income growth, YoY-1.4%10.7%12.8%47.3%-23.3%-34.2%112.9%164.4%-65.6%3.4%
EPS growth, YoY-1.8%10.2%11.0%45.5%-23.5%-34.9%107.4%158.3%-67.1%-1.5%
Operating margin24.7%26.4%23.1%18.3%15.8%23.2%34.2%16.6%10.1%22.5%
Net margin14.7%16.4%15.7%12.0%10.2%14.8%21.0%8.8%3.7%12.3%
Free cash flow margin-9.9%3.1%-6.1%-5.5%-6.0%-3.9%-7.9%-4.2%-4.5%-12.1%
Return on equity11.2%12.0%11.3%10.2%7.4%9.7%14.9%7.7%3.3%9.2%
Return on assets2.8%3.0%2.9%2.6%1.9%2.5%4.0%1.9%0.8%2.2%
Current ratio0.650.670.770.660.820.710.780.670.740.75
Debt to equity1.711.641.691.541.601.421.381.501.841.69

Source: XBRL data Southern Company files with the SEC, latest filing dated Apr 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

SO peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
SO$30.17B+7.9%$4.34B14.4%$106.22B
NEE$27.87B+10.3%$8.18B29.4%$182.35B
CEG$31.27B+26.0%$3.48B11.1%$88.56B
AEP$22.43B+9.3%$3.72B16.6%$68.90B
D$17.52B+17.5%$2.95B16.9%$60.33B
ETR$13.29B+11.4%$1.79B13.4%$52.82B
VST$19.60B+4.1%$2.22B11.3%$41.89B
FTSC$12.17B+5.8%C$1.71B14.1%$31.00B
DTE$16.52B+20.9%$1.26B7.7%$28.11B

SO FAQ

8 questions
  • What is SO revenue?
    Southern Company (SO) reported $30.17B of revenue for the twelve months ended Mar 31, 2026. That is up 7.9% from the year before. Revenue for fiscal 2025 was $29.55B.
  • Is SO profitable?
    Yes. Southern Company earned $4.34B in net income for the twelve months ended Mar 31, 2026, a net margin of 14.4%.
  • How much cash and debt does SO have?
    Southern Company reported $981.00M in cash and cash equivalents and $68.82B of debt on its most recent balance sheet in SEC filings.
  • How fast is SO revenue growing?
    Southern Company's revenue changed +10.4% in fiscal 2025, to $29.55B. Its compound annual growth rate was +7.0% over 5 years and +5.4% over 10 years.
  • What is SO free cash flow?
    Southern Company generated -$3.47B of free cash flow for the twelve months ended Mar 31, 2026, which is operating cash flow of $9.78B less capital expenditures.
  • What is SO earnings per share?
    Diluted earnings per share were $3.91 for the twelve months ended Mar 31, 2026, from SEC filings, restated for any stock split those filings show.
  • When did SO last report financial results?
    The latest statements here come from Southern Company's 10-Q filed on Apr 30, 2026, covering the period ended Mar 31, 2026.
  • Where does this SO financial data come from?
    Quantisnow builds these statements from the structured XBRL data Southern Company files with the SEC. It is provided for information only and is not investment advice.