financial statements

The full income statement, balance sheet, and cash-flow statement for Southern Company (The) (SO), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	29.6B YoY+10.6%	26.7B YoY+5.8%	25.3B YoY-13.8%	29.3B YoY+26.7%	23.1B YoY+13.4%
Amortization of intangibles	32.0M YoY-8.6%	35.0M YoY-7.9%	38.0M YoY-2.6%	39.0M YoY-11.4%	44.0M YoY-10.2%
Operating income	7.29B YoY+3.1%	7.07B YoY+21.3%	5.83B YoY+8.5%	5.37B YoY+45.2%	3.70B YoY-24.3%
Other non-operating income	500M YoY-5.7%	530M YoY-4.2%	553M YoY+10.6%	500M YoY+11.4%	449M YoY+33.6%
Equity-method income	112M YoY-19.4%	139M YoY-3.5%	144M YoY-4.6%	151M YoY+98.7%	76.0M YoY-50.3%
Pre-tax income	5.00B YoY-4.4%	5.23B YoY+20.3%	4.34B YoY+2.9%	4.22B YoY+63.9%	2.58B YoY-26.3%
Income tax	828M YoY-14.6%	969M YoY+95.4%	496M YoY-37.6%	795M YoY+197.8%	267M YoY-32.1%
	4.34B YoY-1.4%	4.40B YoY+10.7%	3.98B YoY+16.0%	3.43B YoY+48.5%	2.31B YoY-25.6%
Net income to non-controlling interest	-170M YoY-20.6%	-141M YoY-11.0%	-127M YoY-18.7%	-107M YoY-8.1%	-99.0M YoY-219.4%
Net income to common	—	4.40B YoY+10.7%	3.98B YoY+12.8%	3.52B YoY+47.3%	2.39B YoY-23.3%
	$3.92 YoY-1.8%	$3.99 YoY+10.2%	$3.62 YoY+11.0%	$3.26 YoY+45.5%	$2.24 YoY-23.5%
EPS (basic)	$3.94 YoY-2.0%	$4.02 YoY+10.4%	$3.64 YoY+11.0%	$3.28 YoY+45.1%	$2.26 YoY-23.4%
Weighted-avg shares (basic)	1.10B YoY+0.6%	1.10B YoY+0.4%	1.09B YoY+1.6%	1.07B YoY+1.3%	1.06B YoY+0.3%
Weighted-avg shares (diluted)	1.11B YoY+0.6%	1.10B YoY+0.4%	1.10B YoY+1.6%	1.08B YoY+1.2%	1.07B YoY+0.3%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	10.9B YoY+2.1%	10.7B YoY+2.5%	10.4B YoY+0.2%	10.4B YoY+16.2%	8.96B YoY+4.0%
Cash & equivalents	1.64B YoY+53.2%	1.07B YoY+43.0%	748M YoY-61.0%	1.92B YoY+6.6%	1.80B YoY+68.8%
Prepaid expenses	327M YoY+11.2%	294M YoY-27.6%	406M YoY+17.0%	347M YoY+5.2%	330M YoY+19.6%
Other current assets	424M YoY-10.9%	476M YoY-10.7%	533M YoY+54.9%	344M YoY+48.9%	231M YoY-18.1%
	156B YoY+7.3%	145B YoY+4.2%	139B YoY+3.3%	135B YoY+5.8%	128B YoY+3.7%
Property, plant & equipment	102B YoY+0.0%	102B YoY+2.0%	99.8B YoY+5.6%	94.6B YoY+3.8%	91.1B YoY+4.0%
Operating lease right-of-use	1.36B YoY-2.0%	1.39B YoY-3.2%	1.43B YoY-6.5%	1.53B YoY-10.0%	1.70B YoY-5.6%
Goodwill	5.16B YoY+0.0%	5.16B YoY+0.0%	5.16B YoY+0.0%	5.16B YoY-2.3%	5.28B YoY+0.0%
Intangible assets	300M YoY-9.6%	332M YoY-9.8%	368M YoY-9.4%	406M YoY-8.8%	445M YoY-8.6%
Long-term investments	10.1B YoY+0.0%	10.1B YoY+1.1%	9.99B YoY+2.3%	9.76B YoY-4.4%	10.2B YoY-1.8%
Other non-current assets	1.44B YoY-2.1%	1.47B YoY-0.1%	1.47B YoY-1.1%	1.49B YoY+8.7%	1.37B YoY+6.1%
Total non-current assets	4.61B YoY+0.0%	4.61B YoY+0.0%	4.61B YoY+0.0%	4.61B YoY+0.0%	4.61B YoY+0.0%
	16.9B YoY+5.6%	16.0B YoY+18.8%	13.5B YoY-14.4%	15.7B YoY+44.0%	10.9B YoY-9.6%
Accounts payable	3.71B YoY+0.2%	3.70B YoY+27.7%	2.90B YoY-17.8%	3.52B YoY+62.5%	2.17B YoY-6.2%
Short-term & current debt	722M YoY-46.0%	1.34B YoY-42.2%	2.31B YoY-11.3%	2.61B YoY+81.2%	1.44B YoY+136.5%
Current lease liability	197M YoY-1.5%	200M YoY+9.3%	183M YoY-7.1%	197M YoY-21.2%	250M YoY+3.7%
Other current liabilities	1.16B YoY+5.2%	1.10B YoY+6.9%	1.03B YoY+30.7%	787M YoY-9.7%	872M YoY-9.9%
	117B YoY+7.7%	109B YoY+4.2%	104B YoY+3.7%	100B YoY+5.7%	95.0B YoY+5.0%
Non-current lease liability	1.29B YoY+2.7%	1.25B YoY-4.1%	1.31B YoY-5.8%	1.39B YoY-7.7%	1.50B YoY-6.7%
Deferred tax liabilities	12.1B YoY+3.4%	11.7B YoY+6.7%	11.0B YoY+9.5%	10.0B YoY+13.2%	8.86B YoY+8.4%
Other non-current liabilities	1.50B YoY+11.5%	1.35B YoY+30.9%	1.03B YoY-11.7%	1.17B YoY+43.0%	816M YoY+17.2%
Total non-current liabilities	11.9B YoY+0.0%	11.9B YoY+0.0%	11.9B YoY+0.0%	11.9B YoY+0.0%	11.9B YoY+0.0%
	36.0B YoY+8.5%	33.2B YoY+5.6%	31.4B YoY+3.4%	30.4B YoY+9.1%	27.9B YoY-0.4%
Preferred stock	707M YoY+0.0%	707M YoY+0.0%	707M YoY+0.0%	707M YoY+0.0%	707M YoY+0.0%
Common stock	5.55B YoY+2.0%	5.45B YoY+0.4%	5.42B YoY+0.1%	5.42B YoY+2.6%	5.28B YoY+0.2%
Additional paid-in capital	15.7B YoY+11.2%	14.1B YoY+2.7%	13.8B YoY+0.7%	13.7B YoY+14.4%	11.9B YoY+1.0%
Retained earnings	14.9B YoY+8.0%	13.8B YoY+10.2%	12.5B YoY+8.2%	11.5B YoY+5.6%	10.9B YoY-3.4%
Treasury stock	59.0M YoY+0.0%	59.0M YoY+0.0%	59.0M YoY+11.3%	53.0M YoY+12.8%	47.0M YoY+2.2%
Accumulated other comprehensive income	-75.0M YoY+3.8%	-78.0M YoY+55.9%	-177M YoY-6.0%	-167M YoY+29.5%	-237M YoY+40.0%
Non-controlling interest	2.85B YoY-17.7%	3.47B YoY-8.3%	3.78B YoY-8.3%	4.12B YoY-6.3%	4.40B YoY+3.3%
Total equity incl. non-controlling	38.9B YoY+6.0%	36.7B YoY+4.1%	35.2B YoY+2.0%	34.5B YoY+7.0%	32.3B YoY+0.1%
Total liabilities & equity	156B YoY+7.3%	145B YoY+4.2%	139B YoY+3.3%	135B YoY+5.8%	128B YoY+3.7%
Common shares issued	1.10B YoY+0.0%	1.10B YoY+0.0%	1.10B YoY+0.0%	1.10B YoY+0.0%	1.10B YoY+0.0%
Shares outstanding (cover)	1.10B YoY+0.5%	1.10B YoY+0.5%	1.09B YoY+0.2%	1.09B YoY+2.7%	1.06B YoY+0.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	9.80B YoY+0.1%	9.79B YoY+29.6%	7.55B YoY+19.9%	6.30B YoY+2.2%	6.17B YoY-7.9%
Depreciation & amortization	6.03B YoY+14.5%	5.27B YoY+5.6%	4.99B YoY+22.7%	4.06B YoY+2.3%	3.97B YoY+1.7%
Deferred income taxes	618M YoY-1.3%	626M YoY+50.5%	416M YoY-37.9%	670M YoY+1467.3%	-49.0M YoY+79.7%
Change in payables	-290M YoY-158.9%	492M YoY+157.0%	-863M YoY-184.5%	1.02B YoY+12862.5%	-8.00M YoY+70.4%
	-14.0B YoY-48.5%	-9.40B YoY+2.8%	-9.67B YoY-14.7%	-8.43B YoY-14.6%	-7.35B YoY-4.6%
Capital expenditure	12.7B YoY+42.2%	8.96B YoY-1.5%	9.10B YoY+14.8%	7.92B YoY+4.4%	7.59B YoY+0.9%
Acquisitions	—	—	—	—	345M YoY+325.9%
Other investing activities	58.0M YoY-64.6%	164M YoY+281.4%	43.0M YoY-67.7%	133M YoY+277.3%	-75.0M YoY-257.1%
	4.70B YoY+2357.7%	-208M YoY-120.8%	999M YoY-57.2%	2.34B YoY+20.1%	1.95B YoY+437.7%
Common stock issued	1.62B YoY+1035.0%	143M YoY+297.2%	36.0M YoY-98.0%	1.81B YoY+2376.7%	73.0M YoY-1.4%
Dividends paid	3.02B YoY+2.1%	2.95B YoY-2.7%	3.04B YoY+4.4%	2.91B YoY+4.7%	2.78B YoY+3.4%
Other financing activities	-218M YoY-20.4%	-181M YoY-30.2%	-139M YoY+4.1%	-145M YoY+45.5%	-266M YoY+18.2%
Interest paid	2.69B YoY+6.1%	2.54B YoY+16.2%	2.18B YoY+24.2%	1.76B YoY+2.3%	1.72B YoY+2.1%
Income taxes paid	284M YoY+61.4%	176M YoY+33.3%	132M YoY-9.6%	146M YoY+57.0%	93.0M YoY+45.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	96.0B YoY+6.5%	90.2B YoY+17.9%	76.5B YoY-1.6%	77.7B YoY+7.0%	72.7B YoY+12.0%
P/E	22.1× YoY+7.9%	20.5× YoY-22.0%	26.3× YoY+11.4%	23.6× YoY-25.1%	31.5× YoY+50.5%
P/S	3.2× YoY-3.7%	3.4× YoY+15.9%	2.9× YoY+4.9%	2.8× YoY-11.7%	3.1× YoY-1.3%
P/B	2.7× YoY-1.8%	2.7× YoY+25.4%	2.2× YoY-1.2%	2.2× YoY-16.0%	2.6× YoY+12.4%
P/FCF	—	108.3×	—	—	—
Earnings yield	4.5% YoY-7.3%	4.9% YoY+28.1%	3.8% YoY-10.3%	4.2% YoY+33.6%	3.2% YoY-33.6%
FCF yield	—	0.9%	—	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: SO's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SO filings on SEC EDGAR → Not investment advice.

SO▼ financial statements

About this data

financial statements