SOUTHERN CO
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 72,591 | 66.8 |
| Stockholders' equity | 36,016 | 33.2 |
| Total capitalization | 108,607 | 100.0 |
1,127,301,098 shares outstanding at 31 March 2026 (cover page of the 10-Q filed 30 April 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, noncurrent | 65,649 |
| Current maturities | 6,220 |
| Short-term borrowings / commercial paper | 722 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 1,500,000,000 |
| Common shares issued | 1,100,000,000 |
| Treasury shares | 1,000,000 |
| Par or stated value per share ($) | 5 |
| Outstanding at 3/31/26 | 1,127,301,098 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 2.94 | 75.0 |
| 2024 | 2.86 | 71.7 |
| 2023 | 2.78 | 76.8 |
| 2022 | 2.70 | 82.8 |
| 2021 | 2.62 | 117.0 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware.
BUSINESS: Classified by the SEC under Standard Industrial Classification 4911, Electric Services. Large accelerated filer. Principal executive office: 30 Ivan Allen Jr. Blvd., N.W., Atlanta, GA 30308. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Operating revenues | 29,553 | 26,724 | 25,253 |
| Operation and maintenance | 7,066 | 6,518 | 6,025 |
| Depreciation and amortization | 6,030 | 5,266 | 4,986 |
| Taxes other than income taxes | 1,538 | 1,540 | 1,425 |
| Total operating expenses | 22,268 | 19,656 | 19,427 |
| Operating income | 7,285 | 7,068 | 5,826 |
| Income before income taxes | 4,999 | 5,229 | 4,345 |
| Income taxes | 828 | 969 | 496 |
| Net income | 4,341 | 4,401 | 3,976 |
| Earned per share, diluted ($) | 3.92 | 3.99 | 3.62 |
| Dividends per share ($) | 2.94 | 2.86 | 2.78 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Utility plant, net | 114,369 | 104,689 |
| Cash and equivalents | 1,639 | 1,070 |
| Total current assets | 10,917 | 10,694 |
| Total assets | 155,720 | 145,180 |
| Total current liabilities | 16,888 | 15,993 |
| Long-term debt | 65,649 | 58,768 |
| Common stockholders' equity | 36,016 | 33,208 |
| Total capitalization and liabilities | 155,720 | 145,180 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 29,553 | 7,285 | 4,341 | 14.7 | 3.92 | 2.94 | 9,802 | 12,737 | (2,935) | 155,720 | 116,853 | 72,591 | 36,016 | 12.1 | 2.02 |
| 12/31/24 | 26,724 | 7,068 | 4,401 | 16.5 | 3.99 | 2.86 | 9,788 | 8,955 | 833 | 145,180 | 108,506 | 64,824 | 33,208 | 13.3 | 1.95 |
| 12/31/23 | 25,253 | 5,826 | 3,976 | 15.7 | 3.62 | 2.78 | 7,553 | 9,095 | (1,542) | 139,331 | 104,106 | 62,000 | 31,444 | 12.6 | 1.97 |
| 12/31/22 | 29,279 | 5,370 | 3,524 | 12.0 | 3.26 | 2.70 | 6,302 | 7,923 | (1,621) | 134,891 | 100,359 | 57,550 | 30,408 | 11.6 | 1.89 |
| 12/31/21 | 23,113 | 3,698 | 2,393 | 10.4 | 2.24 | 2.62 | 6,169 | 7,586 | (1,417) | 127,534 | 94,967 | 53,717 | 27,874 | 8.6 | 1.93 |
| 12/31/20 | 20,375 | 4,885 | 3,119 | 15.3 | 2.93 | 2.54 | 6,696 | 7,522 | (826) | 122,935 | 90,410 | 49,189 | 27,972 | 11.2 | 1.76 |
| 12/31/19 | 21,419 | 7,736 | 4,739 | 22.1 | 4.50 | 2.46 | 5,781 | 7,555 | (1,774) | 118,700 | 86,650 | 46,842 | 27,505 | 17.2 | 1.70 |
| 12/31/18 | 23,495 | 4,191 | 2,226 | 9.5 | 2.17 | 2.38 | 6,945 | 8,001 | (1,056) | 116,914 | 87,584 | 46,849 | 24,723 | 9.0 | 1.89 |
| 12/31/17 | 23,031 | 2,333 | 842 | 3.7 | 0.84 | 2.30 | 6,394 | 7,423 | (1,029) | 111,005 | 85,153 | 50,793 | 24,167 | 3.5 | 2.10 |
| 12/31/16 | 19,896 | 4,486 | 2,448 | 12.3 | 2.55 | 2.22 | 4,894 | 7,310 | (2,416) | 109,697 | 82,803 | 47,457 | 24,758 | 9.9 | 1.92 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
SOUTHERN CO
CIK 92122 · EIN 58-0690070
PRINCIPAL OFFICE:
30 Ivan Allen Jr. Blvd., N.W., Atlanta, GA 30308
Tel.: 4045065000
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
4911 · Electric Services
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 19 February 2026
FORMER NAMES:
SOUTHERN CO
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/19/26) · 10-K FY2024 (filed 2/20/25) · 10-K FY2023 (filed 2/15/24) · 10-K FY2022 (filed 2/16/23) · 10-K FY2021 (filed 2/17/22) · 10-K FY2020 (filed 2/18/21) · 10-K FY2019 (filed 2/20/20) · 10-K FY2018 (filed 2/20/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.