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Southern Company (SO) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

UTILITIES · Electric Utilities · DATA UPDATED 2026-07-13

Southern Company (SO) operates in the Electric Utilities industry and is headquartered in Atlanta, United States with about 29,502 employees. Its market capitalization is roughly $110 billion. In the fiscal year ended 2025-12-31, SO reported $29.6B in revenue and $4.3B in net income.

The Southern Company, through its subsidiaries, engages in the sale of electricity. The company offers electric service to retail customers and wholesale customers; and energy-related products and services to natural gas choice markets.

Interactive charts & full statements → Open the SO valuation workbench →

SO Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$30.2B	$29.6B	$26.7B	$25.3B	$29.3B	$23.1B	$20.4B	$21.4B	$23.5B	$23.0B	$19.9B	$17.5B	$18.5B	$17.1B	$16.5B	$17.7B	$17.5B	$15.7B	$17.1B	$15.4B	$14.4B
Gross Profit	$13.0B	$8.8B	$13.3B	$11.7B	$10.6B	$10.2B	$9.9B	$9.6B	$9.6B	$9.9B	$8.5B	$7.7B	$7.4B	$7.3B	$7.2B	$6.8B	$10.2B	$9.3B	$9.5B	$9.0B	$8.7B
Gross Margin %	43.1%	29.8%	49.9%	46.4%	36.3%	44.3%	48.6%	44.8%	40.9%	43.0%	42.9%	43.9%	40.3%	42.5%	43.3%	38.8%	58.4%	59.2%	55.4%	58.5%	60.3%
Operating Income (EBIT)	$7.3B	$7.3B	$7.1B	$5.8B	$5.4B	$3.7B	$4.9B	$7.7B	$4.2B	$2.3B	$4.5B	$4.3B	$3.6B	$3.3B	$4.5B	$4.2B	$3.8B	$3.5B	$3.5B	$3.3B	$3.2B
Operating Margin %	24.1%	24.6%	26.5%	23.1%	18.3%	16.0%	24.0%	36.1%	17.8%	10.1%	22.6%	24.5%	19.7%	19.1%	27.0%	24.0%	21.8%	22.0%	20.5%	21.7%	22.5%
Net Income	$4.4B	$4.3B	$4.4B	$4.0B	$3.5B	$2.4B	$3.1B	$4.8B	$2.2B	$880M	$2.5B	$2.4B	$2.0B	$1.7B	$2.4B	$2.3B	$2.0B	$1.7B	$1.8B	$1.7B	$1.6B
Net Margin %	14.5%	14.7%	16.5%	15.7%	12.1%	10.4%	15.4%	22.2%	9.5%	3.8%	12.5%	13.8%	11.0%	10.0%	14.6%	12.8%	11.7%	10.8%	10.5%	11.3%	11.0%
EBITDA	$14.4B	$14.3B	$13.2B	$11.8B	$10.3B	$8.4B	$9.2B	$11.6B	$8.1B	$6.2B	$7.7B	$6.9B	$6.1B	$5.7B	$6.8B	$6.4B	$5.8B	$5.3B	$5.3B	$4.9B	$4.6B
Earnings Per Share (EPS)	$3.92	$3.91	$3.99	$3.62	$3.27	$2.27	$2.96	$4.51	$2.17	$0.87	$2.52	$2.66	$2.24	$1.93	$2.78	$2.65	$2.45	$2.15	$2.33	$2.28	$2.10
Shares Outstanding (M)	1,128M	1,109M	1,103M	1,098M	1,081M	1,061M	1,058M	1,054M	1,034M	1,008M	990M	912M	908M	887M	868M	857M	833M	795M	775M	761M	748M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SO Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$8.4B	$7.0B	$7.8B	$7.0B	$7.8B	$6.3B	$7.3B	$6.5B
Gross Profit	$3.9B	$1.3B	$4.3B	$3.5B	$3.7B	$2.7B	$4.0B	$3.5B
Gross Margin %	46.5%	18.8%	55.0%	50.0%	48.1%	42.0%	54.3%	53.9%
Operating Income (EBIT)	$2.0B	$911M	$2.6B	$1.8B	$2.0B	$1.1B	$2.4B	$1.9B
Operating Margin %	24.0%	13.1%	33.2%	25.3%	25.9%	16.7%	32.6%	30.0%
Net Income	$1.4B	$416M	$1.7B	$880M	$1.3B	$534M	$1.5B	$1.2B
Net Margin %	16.2%	6.0%	21.9%	12.6%	17.2%	8.4%	21.1%	18.6%
EBITDA	$3.9B	$2.8B	$4.3B	$3.5B	$3.7B	$2.6B	$3.9B	$3.5B
Earnings Per Share (EPS)	$1.20	$0.38	$1.54	$0.80	$1.21	$0.48	$1.39	$1.09
Shares Outstanding (M)	1,128M	1,109M	1,110M	1,105M	1,105M	1,112M	1,103M	1,104M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SO Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$9.8B	$9.8B	$9.8B	$7.6B	$6.3B	$6.2B	$6.7B	$5.8B	$6.9B	$6.4B	$4.9B	$6.3B	$5.8B	$6.1B	$4.9B	$5.9B	$4.0B	$3.3B	$3.4B	$3.4B	$2.8B
Capital Expenditures (CapEx)	$13.6B	$12.7B	$9.0B	$9.1B	$7.9B	$7.2B	$7.4B	$7.6B	$8.0B	$7.4B	$7.3B	$7.4B	$6.0B	$5.5B	$4.8B	$4.5B	$4.1B	$4.7B	$4.0B	$3.5B	$3.0B
Free Cash Flow (FCF)	($3.8B)	($2.9B)	$833M	($1.5B)	($1.6B)	($1.1B)	($745M)	($1.8B)	($1.1B)	($1.0B)	($2.4B)	($1.1B)	($162M)	$634M	$89M	$1.4B	($95M)	($1.4B)	($563M)	($150M)	($174M)
FCF Margin %	-12.5%	-9.9%	3.1%	-6.1%	-5.5%	-4.6%	-3.7%	-8.3%	-4.5%	-4.5%	-12.1%	-6.4%	-0.9%	3.7%	0.5%	7.8%	-0.5%	-8.9%	-3.3%	-1.0%	-1.2%
Dividends Paid	$3.1B	$3.0B	$3.0B	$3.0B	$2.9B	$2.8B	$2.7B	$2.6B	$2.4B	$2.3B	$2.1B	$2.0B	$1.9B	$1.8B	$1.8B	$1.7B	$1.6B	$1.4B	$1.3B	$1.2B	$1.1B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SO Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$1.2B	$2.6B	$3.8B	$2.2B	$1.2B	$2.2B	$3.6B	$2.7B
Capital Expenditures (CapEx)	$2.9B	$4.3B	$3.4B	$2.9B	$2.4B	$2.9B	$2.5B	$2.3B
Free Cash Flow (FCF)	($1.7B)	($1.7B)	$384M	($755M)	($1.2B)	($764M)	$1.1B	$419M
FCF Margin %	-20.5%	-24.2%	4.9%	-10.8%	-15.3%	-12.0%	15.7%	6.5%
Dividends Paid	$776M	$761M	$760M	$758M	$736M	$734M	$733M	$754M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SO Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$157.0B	$155.7B	$145.2B	$139.3B	$134.9B	$127.5B	$122.9B	$118.7B	$116.9B	$111.0B	$109.7B	$78.3B	$70.2B	$64.5B	$63.1B	$59.3B	$55.0B	$52.0B	$48.3B	$45.8B	$42.9B
Cash & Cash Equivalents	$981M	$1.6B	$1.1B	$748M	$1.9B	$1.8B	$1.1B	$2.0B	$1.4B	$2.1B	$2.0B	$1.4B	$710M	$659M	$628M	$1.3B	$447M	$690M	$417M	$201M	$167M
Total Liabilities	$117.1B	$116.9B	$108.5B	$104.1B	$100.4B	$95.0B	$90.4B	$86.7B	$87.6B	$85.2B	$83.0B	$56.2B	$48.9B	$44.4B	$43.8B	$40.6B	$38.1B	$36.5B	$34.4B	$32.3B	$30.7B
Total Debt (Short + Long-Term)	$74.7B	$65.1B	$65.0B	$62.2B	$57.7B	$53.8B	$49.4B	$5.4B	$6.3B	$6.6B	$47.5B	$28.7B	$4.2B	$2.0B	$22.4B	$21.2B	$20.8B	$19.9B	$18.4B	$16.6B	$15.9B
Total Shareholders' Equity	$37.1B	$36.0B	$33.2B	$35.2B	$30.4B	$28.2B	$28.3B	$32.0B	$29.3B	$25.9B	$25.5B	$21.3B	$21.1B	$20.1B	$19.4B	$18.7B	$16.9B	$15.6B	$14.0B	$13.5B	$12.1B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive SO viewer.

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EXC · Exelon — $49 billion
PEG · Public Service Enterprise Group — $40 billion
WEC · WEC Energy Group — $38 billion

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