Latest revenue
$8.40B
as of 2026-03-31
Latest net income
$1.36B
as of 2026-03-31
Net margin
16.1%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $106.59B
- Enterprise value
- $113.16B
- P/E (trailing)
- 24.6×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 3.2%
- 52-wk high
- $100.83
- 52-wk low
- $83.80
- Beta
- —
- Shares out
- 1.13B
5-year trend
What this company does
Southern Company is a U.S. utility holding company that generates and delivers electricity and natural gas to roughly nine million customers across the Southeast through subsidiaries including Alabama Power, Georgia Power, Mississippi Power, and Southern Company Gas. It earns most of its revenue from regulated retail electric sales (about $4.6 billion in the quarter), supplemented by wholesale power and regulated natural gas distribution. The company is in a heavy capital-investment phase, with property additions of $2.9 billion in the quarter and construction work in progress topping $11 billion, funded largely through new long-term debt and equity issuance.
Generated from SO's filing dated 2026-02-19
Key risks
- Heavy capex outpacing operating cash: Q1 property additions $2.94B vs $1.23B operating cash flow, driving long-term debt to $67.1B.
- Rising interest burden: Q1 interest expense climbed to $778M from $714M; cash interest paid jumped to $901M from $756M YoY.
- Construction risk concentration: $11.3B in CWIP plus $920M nuclear fuel exposes investors to regulatory recovery and cost-overrun outcomes.
Generated from SO's filing dated 2026-02-19
Profitability
Operating margin
24.7%
6.8%Net margin
14.7%
10.8%Return on equity
12.1%
9.1%Return on assets
2.8%
8.0%Leverage
Debt / equity
3.32×
1.4%Long-term debt / equity
1.82×
3.0%Debt / assets
76.9%
0.3%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $8.40B | +8.0% | $1.36B | +1.6% | 16.1% |
Q4 2025 2025-12-31 | $6.98B | +10.1% | $416.0M | — | 6.0% |
Q3 2025 2025-09-30 | $7.82B | +7.5% | $1.71B | +11.5% | 21.9% |
Q2 2025 2025-06-30 | $6.97B | +7.9% | $880.0M | -26.8% | 12.6% |
Q1 2025 2025-03-31 | $7.78B | +17.0% | $1.33B | — | 17.2% |
Q4 2024 2024-12-31 | $6.34B | — | — | — | — |
Q3 2024 2024-09-30 | $7.27B | +4.2% | $1.53B | — | 21.1% |
Q2 2024 2024-06-30 | $6.46B | +12.4% | $1.20B | — | 18.6% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Electric Services · SIC 4911
Your notes
Keep private notes on SO — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$0
Insider selling
$6.8M
Net activity
−$6.8M
Distinct insiders
6
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns SO
Institutional value
$20.96B
Total shares held
219.9M
Distinct holders
800
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 71.5M | $6.90B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 26.1M | $2.52B | — | New |
| 3 | Legal & General Group Plc | 7.8M | $757.5M | — | New |
| 4 | Bank of New York Mellon Corp | 7.3M | $702.5M | — | New |
| 5 | VANGUARD FIDUCIARY TRUST CO | 6.2M | $598.1M | — | New |
| 6 | Invesco Ltd. | 5.5M | $534.5M | — | New |
| 7 | WELLS FARGO & COMPANY/MN | 4.3M | $410.7M | — | New |
| 8 | UBS Group AG | 4.1M | $393.4M | — | New |
| 9 | Nuveen, LLC | 3.9M | $375.5M | — | New |
| 10 | Mawer Investment Management Ltd. | 3.4M | $330.3M | — | New |
| 11 | Swiss National Bank | 3.2M | $311.9M | — | New |
| 12 | LPL Financial LLC | 3.1M | $296.4M | — | New |
| 13 | National Pension Service | 2.9M | $277.9M | — | New |
| 14 | DIMENSIONAL FUND ADVISORS LP | 2.7M | $256.3M | — | New |
| 15 | CITIGROUP INC | 2.6M | $252.3M | — | New |
| 16 | Mitsubishi UFJ Asset Management Co., Ltd. | 2.5M | $241.4M | — | New |
| 17 | ENVESTNET ASSET MANAGEMENT INC | 2.4M | $236.1M | — | New |
| 18 | Sumitomo Mitsui Trust Group, Inc. | 2.4M | $235.5M | — | New |
| 19 | Vanguard Global Advisers, LLC | 2.4M | $232.6M | — | New |
| 20 | DEUTSCHE BANK AG\ | 2.1M | $204.4M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
CapEx jumped to $2.94B from $2.44B with operating cash flow flat at $1.23B—how do you fund the widening gap without further equity dilution beyond the $535M issued?
- 2
Interest expense rose to $778M and cash interest paid hit $901M versus $756M—what's the trajectory as $11.3B of CWIP rolls into rate base at higher financing costs?
- 3
Wholesale electric revenues surged 30% to $965M—how much is sustainable data center load versus weather, and what contracted MW are locked in beyond 2026?
Refreshed when SO files a new report · last from 2026-02-19