The Southern Company (SO) Financial Statements
Southern financial statements at a glance
Southern reported revenue of $29.55 billion for fiscal year 2025 (ended December 31, 2025), up 15.6% from fiscal year 2024. Net income was $4.34 billion, a net margin of 14.7%, and diluted earnings per share were $3.92.
At the end of fiscal year 2025 it had total assets of $155.72 billion, total liabilities of $116.85 billion and shareholders' equity of $36.02 billion, with cash and short-term investments of $1.64 billion and total debt of $74.08 billion.
Its operations brought in $9.80 billion of cash; capital spending was $12.74 billion, leaving free cash flow of -$2.94 billion.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in USD; latest fiscal year ended December 31, 2025.
The Southern Company
Income Statement
Annual • USD
Southern key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $29.6B | $25.6B | $24.3B | $28.5B | $23.1B |
| Gross profit | $14.3B | – | – | – | $10.2B |
| Operating income | $7.3B | $7.1B | $5.8B | $5.4B | $3.7B |
| Net income | $4.3B | $4.4B | $4.0B | $3.5B | $2.4B |
| Diluted EPS | $3.92 | – | – | – | $2.26 |
| Total assets | $155.7B | $145.2B | $139.3B | $134.9B | $127.5B |
| Total liabilities | $116.9B | $112.0B | $107.9B | $104.5B | $95.0B |
| Shareholders' equity | $36.0B | $33.2B | $31.4B | $30.4B | $28.2B |
| Cash and short-term investments | $1.6B | – | – | – | $1.8B |
| Total debt | $74.1B | $64.8B | $62.0B | $57.6B | $55.5B |
| Operating cash flow | $9.8B | $9.8B | $7.6B | $6.3B | $6.2B |
| Capital spending | $12.7B | – | – | – | $7.6B |
| Free cash flow | -$2.9B | – | – | – | -$1.4B |
In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Southern's revenue in fiscal year 2025?
$29.55 billion, up 15.6% from $25.57 billion in fiscal year 2024.
How much profit does Southern make?
Southern reported net income of $4.34 billion for fiscal year 2025 (14.7% of revenue); operating income was $7.29 billion.
How much cash and debt does Southern have?
At the end of fiscal year 2025: cash and short-term investments of $1.64 billion and total debt of $74.08 billion.
What is Southern's free cash flow?
-$2.94 billion in fiscal year 2025 (operating cash flow of $9.80 billion minus capital spending of $12.74 billion).
