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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. SO Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Southern (SO)

Market Price (9/17/2025): $91.38 | Market Cap: $100.5 Bil
Sector: Utilities | Industry: Electric Utilities

Southern (SO)

Market Price (9/17/2025): $91.38
Market Cap: $100.5 Bil
Sector: Utilities
Industry: Electric Utilities

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.5%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.0%		 Trading close to highs
Dist 52W High is -4.1%, Dist 3Y High is -4.1%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 67%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, CFO LTM is 9.7 Bil		 Weak multi-year price returns
2Y Excs Rtn is -3.6%, 3Y Excs Rtn is -33%		 
2 Low stock price volatility
Vol 12M is 18%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.5%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.0%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 35%, CFO LTM is 9.7 Bil
2 Low stock price volatility
Vol 12M is 18%
3 Trading close to highs
Dist 52W High is -4.1%, Dist 3Y High is -4.1%
4 Weak multi-year price returns
2Y Excs Rtn is -3.6%, 3Y Excs Rtn is -33%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 67%

Market Valuation

 9/17/252024202320222021
Share Price CYE$91.38$80.31$65.29$63.87$59.01
Market Cap CYE ($ Bil)100.588.071.369.662.8
Total Debt ($ Bil)70.166.363.559.155.5
Total Cash ($ Bil)2.31.10.71.91.8
Enterprise Value ($ Bil)168.3154.3134.8128.7118.3
Valuation Ratios     
P/S TTM3.63.43.02.63.1
P/EBIT TTM12.111.311.312.316.5
P/E TTM21.820.519.321.730.2
Sector Ratios     
P/S TTM (Sector)2.72.42.22.32.5
P/EBIT TTM (Sector)10.59.59.711.912.0
P/E TTM (Sector)18.218.316.519.219.2
 9/17/2520242023
Share Price CYE$91.38$80.31$65.29
Market Cap CYE ($ Bil)100.588.071.3
Total Debt ($ Bil)70.166.363.5
Total Cash ($ Bil)2.31.10.7
Enterprise Value ($ Bil)168.3154.3134.8
Valuation Ratios   
P/S TTM3.63.43.0
P/EBIT TTM12.111.311.3
P/E TTM21.820.519.3
Sector Ratios   
P/S TTM (Sector)2.72.42.2
P/EBIT TTM (Sector)10.59.59.7
P/E TTM (Sector)18.218.316.5

Market Cap Chart

Business Description

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 Services segments. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, wholesale gas services, and gas pipeline investments operations. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
SO Return1%16%8%2%23%14%83%
Peers Return-1%18%6%3%32%22%102%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CEG, DUK, AEP, EXC, SO. See SO Returns vs. Peers.
[3] 2025 data is for the year up to 9/16/2025 (YTD)

Better Bets than Southern (SO)

 SOBetter Performance than SO
MetricValueIndustry (Electric Utilities)
Rev Chg LTM9.6%VST (31.6%), ES (14.4%), EMA (12.0%), TXNM (10.2%)
Rev Chg 3Y Avg6.3%CEG (6.8%), VST (22.4%), EXC (8.5%), PEG (7.0%), PPL (14.1%)
Op Mgn LTM26.5%DUK (26.9%), ETR (26.9%), FTS (28.9%), EIX (27.9%), OTTR (27.1%)
CFO/Rev LTM34.9%DUK (38.2%), ETR (38.5%), WEC (35.7%), FTS (36.4%), EVRG (36.1%)
FCF/Rev LTM0.4%VST (8.9%), WEC (1.6%), LNT (26.8%), OTTR (6.2%), MGEE (6.2%)
Total Yield7.5%AEP (9.8%), EXC (9.9%), PEG (7.9%), WEC (7.9%), FE (9.3%)
 SOBetter Performance than SO
MetricValueAll Other Sectors
Rev Chg LTM9.6%NVDA (71.6%), MSFT (14.9%), GOOGL (13.1%), AMZN (10.9%), META (19.4%)
Rev Chg 3Y Avg6.3%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%), META (13.0%)
Op Mgn LTM26.5%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM34.9%NVDA (46.6%), MSFT (48.3%), GOOGL (36.0%), META (56.4%), AVGO (42.4%)
FCF/Rev LTM0.4%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), AMZN (2.0%)
Total Yield7.5%XOM (9.7%), JNJ (8.2%), BABA (38.9%), UNH (9.4%), CVX (9.3%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Southern vs Newmont: Which Is A Better Investment?Counter-Intuitive Comparisons 
2Southern vs NiSource: Which Is A Better Investment?Counter-Intuitive Comparisons 
3Better Bet Than SO Stock: Pay Less Than Southern To Get More From CCL, FTI   
4SO Dip Buy Analysis  
5SO YTD Stock Return Of 11% Outperforms DUK by 0.3% and Underperforms CEG by -29%Return 
6Southern (SO) Operating Cash Flow ComparisonFinancials 
7Southern (SO) Net Income ComparisonFinancials 
8Southern (SO) Operating Income ComparisonFinancials 
9Southern (SO) Revenue ComparisonFinancials 
10Southern vs. PG&E: SO stock's significantly higher valuation vs. PCG appears counterintuitiveCounter-Intuitive Comparisons 
11ARTICLES  
12After CEG’s 6.4% Climb in a Day, SO Looks Like the Stronger Long-Term Play September 11th, 2025
13Big Move for HE, but Do SO’s Margins and Growth Give It the Edge? August 27th, 2025
14As CEG Surges 16% in a Month, SO’s Story Stands Out August 5th, 2025
15Better Bet Than NextEra Energy Stock: Pay Less To Get More From Industry Peers July 16th, 2025
16Southern Stock Looks Oversold After Falling -31% Vs. -23% For The S&P March 24th, 2020
Title
0DASHBOARDS
1After CEG’s 6.4% Climb in a Day, SO Looks Like the Stronger Long-Term Play
2Big Move for HE, but Do SO’s Margins and Growth Give It the Edge?
3As CEG Surges 16% in a Month, SO’s Story Stands Out
4Better Bet Than NextEra Energy Stock: Pay Less To Get More From Industry Peers
5Southern Stock Looks Oversold After Falling -31% Vs. -23% For The S&P
6ARTICLES
7Southern vs Newmont: Which Is A Better Investment?
8Southern vs NiSource: Which Is A Better Investment?
9Better Bet Than SO Stock: Pay Less Than Southern To Get More From CCL, FTI 
10SO Dip Buy Analysis
11SO YTD Stock Return Of 11% Outperforms DUK by 0.3% and Underperforms CEG by -29%
12Southern (SO) Operating Cash Flow Comparison
13Southern (SO) Net Income Comparison
14Southern (SO) Operating Income Comparison
15Southern (SO) Revenue Comparison
16Southern vs. PG&E: SO stock's significantly higher valuation vs. PCG appears counterintuitive

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1 Week Top Gainers

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1 Month Top Losers

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Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1BDSXBiodesix1313.2%-78.6%
2CLSDClearside Biomedical954.0%-74.9%
3SDOTSadot624.1%-79.4%
4WLDSWearable Devices498.0%-30.0%
5CHEKCheck-Cap285.6%154.6%
6ATCHAtlasClear275.9%-91.0%
7HSDTHelius Medical Technologies262.5%-95.6%
8OPIOffice Properties Income Trust261.7%-13.4%
9FGIFGI Industries156.8%145.2%
10AIREReAlpha Tech154.0%-56.1%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1NAKAKindly MD-81.4% 
2ATYRaTyr Pharma-79.7%-70.2%
3LGCLLucas GC-73.6%-77.1%
4EPSMEpsium Enterprise-70.1% 
5BNGOBionano Genomics-59.4%-89.7%
6FAASDigiAsia-58.5%-87.2%
7QMMMQMMM-57.5%6775.0%
8VCIGVCI Global-56.9%-99.1%
9YYGHYY-56.6%-78.5%
10XAGELongevity Health-55.5%-86.1%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Southern

Financials

SOCEGDUKAEPEXCMedian
NameSouthern Constell.Duke Ene.American.Exelon  
Mkt Price91.36322.91120.25106.8442.73106.84
Mkt Cap100.5101.493.457.143.193.4
Rev LTM27,85324,82131,27120,66723,70024,821
Op Inc LTM7,3753,4388,3985,1304,7345,130
FCF LTM105-2,398-563-3,236-1,499-1,499
FCF 3Y Avg-1,230-5,749-2,808-2,495-2,372-2,495
CFO LTM9,72745611,9416,5715,7776,571
CFO 3Y Avg7,767-3,2669,7135,5954,8535,595

Growth & Margins

SOCEGDUKAEPEXCMedian
NameSouthern Constell.Duke Ene.American.Exelon  
Rev Chg LTM9.6%5.4%4.1%5.9%6.7%5.9%
Rev Chg 3Y Avg6.3%6.8%6.0%4.9%8.5%6.3%
Rev Chg Q17.0%11.4%4.7%11.1%11.1%11.1%
QoQ Delta Rev Chg LTM4.2%2.6%1.1%2.5%2.9%2.6%
Op Mgn LTM26.5%13.9%26.9%24.8%20.0%24.8%
Op Mgn 3Y Avg23.1%8.8%25.0%21.2%18.8%21.2%
QoQ Delta Op Mgn LTM0.0%-2.6%-0.0%2.2%1.3%0.0%
CFO/Rev LTM34.9%1.8%38.2%31.8%24.4%31.8%
CFO/Rev 3Y Avg28.5%-13.2%32.0%28.1%22.1%28.1%
FCF/Rev LTM0.4%-9.7%-1.8%-15.7%-6.3%-6.3%
FCF/Rev 3Y Avg-4.4%-23.2%-9.6%-12.5%-11.3%-11.3%

Valuation

SOCEGDUKAEPEXCMedian
NameSouthern Constell.Duke Ene.American.Exelon  
Mkt Cap100.5101.493.457.143.193.4
P/S3.64.13.02.81.83.0
P/EBIT12.122.910.310.38.610.3
P/E21.833.719.315.615.919.3
P/CFO10.3222.47.88.77.58.7
Total Yield7.5%3.4%6.0%9.8%9.9%7.5%
Dividend Yield2.9%0.5%0.9%3.4%3.6%2.9%
FCF Yield 3Y Avg-1.6%-12.8%-3.9%-5.2%-6.1%-5.2%
D/E0.70.10.90.81.10.8
Net D/E0.70.10.90.81.10.8

Returns

SOCEGDUKAEPEXCMedian
NameSouthern Constell.Duke Ene.American.Exelon  
1M Rtn-2.1%0.2%-1.8%-4.6%-4.1%-2.1%
3M Rtn4.1%5.8%5.7%6.0%1.7%5.7%
6M Rtn2.9%53.5%1.4%2.5%-2.1%2.5%
12M Rtn5.0%63.0%5.9%5.5%9.7%5.9%
3Y Rtn33.6%286.9%27.8%19.5%10.6%27.8%
1M Excs Rtn-4.5%-2.2%-4.2%-7.0%-6.6%-4.5%
3M Excs Rtn-6.0%-4.5%-4.4%-3.8%-8.5%-4.5%
6M Excs Rtn-13.9%31.7%-15.1%-13.8%-18.4%-13.9%
12M Excs Rtn-11.4%53.0%-10.5%-10.5%-6.8%-10.5%
3Y Excs Rtn-32.6%215.9%-39.0%-47.9%-58.2%-39.0%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q32022Q2
Period End3/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/20226/30/2022
Filing Date5/1/20252/20/202510/31/20248/1/20245/2/20242/15/202411/2/20238/3/20234/27/20232/16/202310/27/20227/28/2022
Key Financials Quarterly            
Total Revenue7,7756,3417,2746,4636,6466,0456,9805,7486,4807,0478,3787,206
Ebitda3,6752,5883,9483,4833,2202,7213,6122,7342,7111,3073,5012,887
Operating Income2,0101,0582,3681,9391,7031,2072,1101,2901,2181382,1931,655
Net Income1,3345341,5351,2031,1298551,422838862-861,4751,111
EPS1.210.501.401.101.030.781.300.770.79-0.081.361.04
Key Financials TTM            
Total Revenue TTM27,85326,72426,42826,13425,41925,25326,25527,65329,11129,27927,99925,859
Ebitda TTM13,69413,23913,37213,03612,28711,77810,36410,25310,40610,3109,9519,378
Operating Income TTM7,3757,0687,2176,9596,3105,8254,7564,8395,2045,3475,0594,464
Net Income TTM4,6064,4014,7224,6094,2443,9773,0363,0893,3623,5363,4113,041
Growth Rates Quarterly            
Total Revenue Growth17.0%4.9%4.2%12.4%2.6%-14.2%-16.7%-20.2%-2.5%22.2%34.3%38.6%
EBITDA Growth14.1%-4.9%9.3%27.4%18.8%108.2%3.2%-5.3%3.7%37.9%19.6%60.5%
Operating Income Growth18.0%-12.3%12.2%50.3%39.8%774.6%-3.8%-22.1%-10.5%192.0%37.2%137.4%
Net Income Growth18.2%-37.5%7.9%43.6%31.0%1094.2%-3.6%-24.6%-16.8%59.2%33.5%195.5%
Margins Quarterly            
EBITDA Margin47.3%40.8%54.3%53.9%48.5%45.0%51.7%47.6%41.8%18.5%41.8%40.1%
Operating Income Margin25.9%16.7%32.6%30.0%25.6%20.0%30.2%22.4%18.8%2.0%26.2%23.0%
Net Income Margin17.2%8.4%21.1%18.6%17.0%14.1%20.4%14.6%13.3%-1.2%17.6%15.4%
Cash & Debt            
Total Cash2,3271,0701,0181,1527137481,6762,1231,0531,9172,0091,724
Total Debt70,12066,27765,08265,51965,24663,49062,30662,39560,55059,13556,65056,462
Net Debt / (Cash)67,79365,20764,06464,36764,53362,74260,63060,27259,49757,21854,64154,738
Cash Flows Quarterly            
FCF from Operations1,2502,1733,6162,6881,3111,8132,8402,0568441,2851,4381,987
Cash Flows TTM            
FCF from Operations TTM9,7279,7889,4288,6528,0207,5537,0255,6235,5546,3026,1056,844
Returns to Shareholders Quarterly            
Dividends736734733754733764765764742741741723
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC7.5%4.3%9.1%7.5%6.7%5.9%8.8%5.8%5.5%0.4%9.3%7.2%
Return on Invested Capital (ROIC) TTM            
ROIC TTM6.9%6.8%7.3%7.1%6.6%6.3%5.3%5.2%5.4%5.7%5.8%5.2%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Traditional Electric Operating Companies18,35820,40816,61415,13515,569
Southern Company Gas4,7025,9624,3803,4343,792
Southern Power2,1893,3692,2161,7331,938
All Other718593582596690
Eliminations-165-149-149-152-158
Electric Utilities-Eliminations-549-904-530-371-412
Total25,25329,27923,11320,37521,419


Net Income by Segment
$ Mil20242023202220212020
Traditional Electric Operating Companies3,6373,3181,9812,8772,929
Southern Company Gas615572539590585
Southern Power357354266238339
Eliminations2-9-96-22
Electric Utilities-Eliminations000  
All Other-635-711-384-592908
Total3,9763,5242,3933,1194,739


Assets by Segment
$ Mil20242023202220212020
Traditional Electric Operating Companies100,42995,86189,05185,48681,063
Southern Company Gas25,08324,62123,56022,63021,687
Southern Power12,76113,08113,39013,23514,300
All Other2,4462,6652,9753,1683,511
Electric Utilities-Eliminations-545-659-667-680-713
Eliminations-843-678-775-904-1,148
Total139,331134,891127,534122,935118,700


Price Behavior

SO Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta0.020.040.070.070.030.30
Up Beta0.35-0.17-0.140.020.030.28
Down Beta-0.31-0.32-0.240.090.060.27
Up Capture-12%22%25%10%4%9%
Bmk +ve Days10223571142415
Stock +ve Days9213366132391
Down Capture15%32%24%10%-5%59%
Bmk -ve Days11192754106334
Stock -ve Days12213059116358

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity34,802,311
Short Interest: % Change Since 81520251.0%
Average Daily Volume3,729,223
Days-to-Cover Short Interest9.33
Basic Shares Quantity1,100,000,000
Short % of Basic Shares3.2%

Returns Analyses

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025731202510-Q 6/30/2025
3312025501202510-Q 3/31/2025
12312024220202510-K 12/31/2024
93020241031202410-Q 9/30/2024
6302024801202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023215202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023427202310-Q 3/31/2023
12312022216202310-K 12/31/2022
93020221027202210-Q 9/30/2022
6302022728202210-Q 6/30/2022
3312022428202210-Q 3/31/2022
12312021217202210-K 12/31/2021
93020211104202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Spainhour Sterling A Jr.EVP & CLO8122025Sell95.022,380226,1481,651,638Form
1Greene Kimberly S,Chairman, President & CEO, GPC7222025Sell95.0013,1581,250,0108,897,795Form
2Cummiskey ChristopherEVP5272025Sell89.5412,3351,104,4762,014,869Form
3Connally Stan WEVP & COO4012025Sell92.2412,5001,153,00013,782,409Form
4Greene Kimberly S,Chairman, President & CEO, GPC3112025Sell93.1232,1902,997,5339,946,985Form

Industry Resources

External Quote Links


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