Southern is one of the largest utilities in the US. The company serves 9 million customers with vertically integrated electric utilities in three states and natural gas distribution utilities in four states.
It is a $99.1B utility company. Revenue grew 6.4% over the last year, it keeps 15¢ of every dollar of sales as profit, and it carries $64.7B of net debt. It trades at 21.3× earnings — around the middle of its own history.
- Website
- southerncompany.com
- Location
- Atlanta, GA
- Employees
- 29 800
- Sector
- Utilities
- Founded
- 1945
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Health, Quality and Moat lag behind.
Valuation60
- P/E vs own history35th pct · 20/25
- FCF yield-3.5% · 0/25
- P/S3.4x · 20/25
- EV/EBITDA13.2x · 20/25
Growth52
- Revenue CAGR6.3% · 12/25
- Net income CAGR16.1% · 20/25
- EPS CAGR ~5Y-2.7% · 0/25
- Fwd implied growth20.8% · 20/25
Profitability62
- ROIC4.3% · 5/25
- ROE12.6% · 12/25
- Net margin15.4% · 20/25
- Operating margin25.3% · 25/25
Health24
- Altman Z0.77 · 3/25
- Current ratio0.79 · 6/25
- Interest coverage2.6x · 10/25
- Net cash / debtD/A 42% · 5/25
Quality47
- Piotroski F4/9 · 10/25
- Beneish M-2.63 · 25/25
- FCF conversion-75% · 0/25
- Margin stabilityσ 11.3% · 12/25
Moat25
- ROIC >12% years0/7 yrs · 0/25
- Median gross margin36.1% · 13/25
- FCF-positive years1/9 yrs · 0/25
- Worst-year net marginworst 1.2% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026MilestoneThe United States Department of Energy (DOE) awarded a $26.54 billion loan to Southern Company,…
- 2025MilestoneSouthern Company, a for-profit corporation, is one of the largest energy providers in the United States and in 2025,…
- 2023AcquisitionIt was announced Southern Company's subsidiary, Southern Power had acquired the 200MW Millers…
- FY2019FinancialBest year on record$4.74B net income
- FY2016FinancialProfitable every year on record9 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$19.9B in first reported year
- 2016AcquisitionSouthern Company acquired PowerSecure, a distributed energy infrastructure technologies company
- 2011AcquisitionSouthern Company and Turner Renewable Energy purchased a 30 MW solar project from First Solar
- Apr 2, 2001MilestoneSouthern Company completed the spinoff of Southern Energy as Mirant Corporation
- 1981MilestoneSouthern Company became the first electric utility holding company in 46 years to diversify its operations…
- Nov 9, 1945FoundedA new holding company, Southern Company, was incorporated in Delaware on November 9, 1945
- 1926AcquisitionIt merged with Georgia Power (formed 1902)
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (40.0%)
Watch-outs
- Negative free cash flow (-$3.5B)
- Altman Z-Score 0.77 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+6.4% YoY
- Profitable — makes more than it spends$4.66B TTM
- Profit growing — earnings are higher than last year+6.2% YoY
- Generates cash — cash left after running and investing-$3.49B TTM
- Debt under control — could handle its obligationscurrent ratio 0.79
- Established company — not a micro-cap — lower blow-up risk$99.1B market cap
- Not printing shares — share count not ballooning — you keep your slice+5.2% shares over ~5y
- Proven track record — years of profitability behind it9/9 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.8 — distress
- Pays a dividend — returns cash to shareholdersyield 3.13%
- Valuation not extreme — price not wildly above earningsP/E 21.3
Peer comparisonThe Southern Company vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| SO this company | $99.1B | 21.3 | +6.4% | 15.4% | Strained |
| NEE NextEra Energy, Inc. | $161.3B | 17.4 | +10.8% | 32.4% | Strained |
| CEG Constellation Energy Corporation | $105.8B | 30.5 | +26.0% | 11.1% | Strained |
| DUK Duke Energy Corporation | $90.9B | 17.3 | +6.3% | 15.8% | Strained |
| WMB Williams Companies Inc. | $89.2B | 29.0 | +8.7% | 25.2% | Strained |
| KMI Kinder Morgan, Inc. | $72.4B | 20.9 | +12.5% | 19.3% | Strained |
| ET Energy Transfer LP Common | $70.5B | 13.3 | +33.3% | 4.9% | Strained |
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/SO
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of SO on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $86.16 · market cap $99.1B.