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Southern Co. (SO)

Southern Company is a holding company. It owns all the common stock of three regulated electric utilities, a wholesale power business and a natural gas distribution group, and each of those earns in a different way: the electric utilities from regulated retail rates, the power business from contracts at market rates, and the gas group from regulated distribution.

Southern Co.

Southern Company is a holding company. It owns all the common stock of three regulated electric utilities, a wholesale power business and a natural gas distribution group, and each of those earns in a different way: the electric utilities from regulated retail rates, the power business from contracts at market rates, and the gas group from regulated distribution.

The three traditional electric operating companies

Alabama Power, Georgia Power and Mississippi Power. Each is a vertically integrated utility that owns generation, transmission and distribution facilities, and each provides electric service to retail customers in its Southeastern state as well as to wholesale customers in the region.

Under the 1956 Utility Act the Mississippi PSC issued grandfather certificates of public convenience and necessity to Mississippi Power and to six distribution rural cooperatives in the south-east of the state, authorising each to distribute electricity in specified areas. Those six cooperatives serve approximately 325,000 retail customers across a certificated area of approximately 10,300 square miles. Inside a certificated area the holder may extend or maintain its system subject to regulatory approval, and neither it nor another utility may extend facilities into that area without a new certificate from the commission.

Alabama Power had cogeneration contracts in effect with seven industrial customers at the end of 2025.

Southern Power

An operating public utility company that develops, constructs, acquires, owns, operates and manages power generation assets, including battery energy storage projects, and sells electricity at market-based rates in the wholesale market under authority from the federal energy regulator. Its business activities are not subject to traditional state regulation in the way the electric operating companies are, though most of them are regulated by FERC.

At the end of 2025 its generation fleet, owned in part with various partners, totalled 12,648 MW of nameplate capacity in commercial operation. Some of those assets sit inside the Southern Company power pool and some are held through subsidiaries created to own and operate generation outside it, wholly or in partnership with third parties. It sells under power purchase agreements, primarily with investor-owned utilities, independent power producers, municipalities, electric cooperatives and other load-serving entities, as well as commercial and industrial customers.

Southern Company Gas

An energy services holding company whose primary business is distributing natural gas in four states, Illinois, Georgia, Virginia and Tennessee, through its natural gas distribution utilities. It also runs several other businesses complementary to gas distribution.

The companies behind the companies

SCS is the system service company. It has contracted with Southern Company, the subsidiary registrants, Southern Nuclear and others to supply, at direct or allocated cost and on request, general executive and advisory work, general and design engineering, operations, purchasing, accounting, finance, treasury, legal, tax, information technology, marketing, auditing, insurance and pension administration, human resources, systems and procedures, digital wireless communications, cellular tower space, construction management and power pool transactions.

Southern Linc supplies digital wireless communications for Southern Company and its subsidiaries and also sells those services to the public, with fibre optics through its subsidiary Southern Telecom. Its system covers approximately 122,000 square miles in the Southeast.

Southern Nuclear operates and provides services to the system's nuclear power plants. PowerSecure develops distributed energy and resilience solutions and deploys microgrids for commercial, industrial, governmental and utility customers. Southern Holdings is an intermediate holding company that, through its subsidiaries, invests in various projects and insures risk exposures of Southern Company and its subsidiaries.

From Southern Company's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Southern became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 5 November 2026
Revenue
$8.8 billion
+13.0% on the year · +26.7% on the quarter
Q4 FY2024Q3 FY2026
Net income
$2.0 billion
+19.6% on the year · +74.3% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$1.76
+14.3% on the year · +70.9% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 19 February 2026
Revenue
$29.6 billion
+10.6% on the year
FY2018FY2025
Net income
$4.3 billion
-1.4% on the year
FY2018FY2025
Diluted EPS
$3.92
-1.8% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsSouthern (SO) reported revenue of $29.6 billion for fiscal 2025, the year ended 31 December 2025, up 10.6% on the year before. Net income was $4.3 billion and diluted earnings per share $3.92. Revenue was $26.7 billion in fiscal 2024, $25.3 billion in fiscal 2023, $29.3 billion in fiscal 2022 and $23.1 billion in fiscal 2021. Net income in the same years was $4.4 billion, $4.0 billion, $3.5 billion and $2.4 billion. Over the twelve months to 30 September 2026, Southern reported revenue of $31.2 billion and net income of $5.0 billion. Revenue grew 7.7% a year, compounded, over the five years to fiscal 2025. Southern declared $3.00 a share in dividends over the last four quarters and had 1.16 billion shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Southern was $107.5 billion, 21.1 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE11.1%
ROCE6.5%
Operating margin24.7%
Net margin16.0%
FCF margin-12.8%
Interest covern/a
Debt to equity1.65x
Cash conversion2.10x
Share count, last 12 months5.7%
Sales CAGR, 3 years0.3%
Profit CAGR, 3 years7.2%
EPS, TTM$4.37

At the close of 6 November 2026

Price$92.33
Market cap$107.5 billion
Stock P/E21.1x
Price to book2.4x
EV / EBITDA12.7x
Dividend yield3.2%
Market cap / sales3.5x
52-week high$99.11
52-week low$82.34
Price, 1 year1.6%
Price CAGR, 3 years10.3%
Price CAGR, 5 years7.9%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Southern Co.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
SOgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue5,7676,6487,2068,3787,0476,4805,7486,9806,0456,6466,4637,2746,3417,7756,9737,8236,9828,3976,9778,843
Operating income-3311,3841,6552,1931381,2181,2902,1101,2081,7031,9392,3681,0582,0101,7642,5949172,0181,7763,000
Operating margin-6%21%23%26%2%19%22%30%20%26%30%33%17%26%25%33%13%24%25%34%
Pre-tax income-5671,1641,3931,901-2358969211,7297991,2941,4781,9125451,5501,1422,1111961,5661,3752,546
Tax raten/a15%22%22%n/a11%11%17%1%17%20%20%14%18%25%19%-74%15%14%19%
Net income-2151,0321,1071,472-87.08628381,4228541,1291,2031,5355341,3348801,7114161,3561,1742,046
Net margin-4%16%15%18%-1%13%15%20%14%17%19%21%8%17%13%22%6%16%17%23%
Diluted EPS-$0.20$0.97$1.03$1.35-$0.09$0.79$0.76$1.29$0.78$1.03$1.09$1.39$0.48$1.21$0.79$1.54$0.38$1.20$1.03$1.76
Operating cash flow1,0881,5921,9871,4381,2858442,0562,8401,8131,3112,6883,6162,1731,2502,1813,7742,5971,2263,0543,600
Capital expenditure2,0181,4191,7942,2892,4211,8502,0482,6632,5341,7702,1252,3112,7492,4372,8003,2154,2852,9443,6953,561
Free cash flow-930173193-851-1,136-1,0068.0177-721-4595631,305-576-1,187-619559-1,688-1,718-64139.0
Dividends paid700702723741741742764765764733754733734736758760761776803820
Shares outstanding1,060m1,063m1,063m1,089m1,089m1,090m1,091m1,091m1,091m1,093m1,095m1,096m1,097m1,099m1,100m1,101m1,119m1,127m1,150m1,164m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007 †FY2008FY2009FY2010FY2011FY2012FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue15,35317,12715,74317,45617,65716,53717,08718,46717,48919,89623,03123,49521,41920,37523,11329,27925,25326,72429,55331,199
Operating income3,3263,5063,2683,8024,2314,4633,2553,6424,2824,4862,3334,1917,7364,8853,6985,3705,8267,0687,2857,711
Operating margin21.7%20.5%20.8%21.8%24.0%27.0%19.0%19.7%24.5%22.5%10.1%17.8%36.1%24.0%16.0%18.3%23.1%26.4%24.7%24.7%
Pre-tax incomen/an/an/a3,0663,4873,7492,5593,0083,6293,4801,0682,7496,5423,4962,5764,2234,3455,2294,9995,683
Income tax8359158961,0261,2191,3348499771,1949511424491,798393267795496969828742
Effective tax raten/an/an/a33.5%35.0%35.6%33.2%32.5%32.9%27.3%13.3%16.3%27.5%11.2%10.4%18.8%11.4%18.5%16.6%13.1%
Net income1,7341,7421,6431,9752,2032,3501,6441,9632,3672,4488422,2264,7393,1192,3933,5243,9764,4014,3414,992
Net margin11.3%10.2%10.4%11.3%12.5%14.2%9.6%10.6%13.5%12.3%3.7%9.5%22.1%15.3%10.4%12.0%15.7%16.5%14.7%16.0%
Diluted EPS$2.28$2.25$2.06$2.36$2.55$2.67$1.87$2.18$2.59$2.55$0.84$2.17$4.50$2.93$2.24$3.26$3.62$3.99$3.92$4.37
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2017 to FY2023

FY2017FY2018FY2019FY2020FY2021FY2022FY2023Share
of the parts, latest year
Traditional Electric Operating Companiesn/an/an/an/an/an/a18,35872.7%
Southern Company Gas3,9203,9093,7923,4344,3805,9624,70218.6%
Southern Powern/an/an/an/an/an/a2,1898.7%
All Other7411,213690596582593n/an/a
Electric Utilities18,54018,57117,09516,49718,30022,873n/an/a
Traditional Electric Operating Companies FY2023Southern Company GasSouthern Power FY2023Electric Utilities FY2017 to FY2022All Other FY2017 to FY2022
23.2FY201723.7FY201821.6FY201920.5FY202023.3FY202129.4FY202225.2FY2023

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2023

The net income each segment reports. Costs Southern does not charge to a segment are left out, so the segments can add up to more than the company's own net income.

FY2023Margin
FY2023
Traditional Electric Operating Companies3,63719.8%
Southern Company Gas61513.1%
Southern Power35716.3%
Electric Utilities3,994n/a
Electric UtilitiesTraditional Electric Operating CompaniesSouthern Company GasSouthern Power
8,603FY2023

$ million; the figure over a bar is all the segments together. Hover a block for its profit, sales and margin.

FY2023Share of salesShare of profit
Traditional Electric Operating Companies73%42%
Southern Company Gas19%7%
Southern Power9%4%
Electric Utilities0%46%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a net income figure. A margin is a segment's net income over its own sales.

Revenue by product or service FY2016 to FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Retail electric revenues15,23415,33015,22214,08413,64314,85218,19716,34317,79019,33165.4%
Natural gas revenuesn/an/an/an/a3,4344,3805,9624,7024,4565,04417.1%
Wholesale electric revenuesn/an/an/an/a1,9452,4553,6412,4672,4312,94110.0%
Other revenues4428031,2397556817087329491,1511,2844.3%
Other electric revenues6986816646366727187477928969533.2%
Natural gas1,5963,7913,8543,792n/an/an/an/an/an/an/a
Wholesale revenues1,9262,4262,5162,152n/an/an/an/an/an/an/a
Retail electric revenuesNatural gas revenues FY2020 to FY2025Wholesale electric revenues FY2020 to FY2025Other revenuesOther electric revenuesNatural gas FY2016 to FY2019Wholesale revenues FY2016 to FY2019
23.0FY201721.4FY201923.1FY202125.3FY202329.6FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2007 †FY2008FY2009FY2010FY2011FY2012FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow3,4343,4643,2633,9915,9034,8986,0975,8156,2744,8946,3956,9455,7816,6966,1696,3027,5539,7889,80210,477
Capital expenditure3,5463,9614,6704,0864,5254,8095,3315,2465,6747,3107,4238,0017,5557,5227,5867,9239,0958,95512,73714,485
Free cash flow-112-497-1,407-95.01,37889.0766569600-2,416-1,028-1,056-1,774-826-1,417-1,621-1,542833-2,935-4,008
Free cash flow margin-0.7%-2.9%-8.9%-0.5%7.8%0.5%4.5%3.1%3.4%-12.1%-4.5%-4.5%-8.3%-4.1%-6.1%-5.5%-6.1%3.1%-9.9%-12.8%
Cash from investing-3,709-4,126-4,319-4,256-4,183-5,168-5,742-6,408-7,280-20,048-7,191-5,760-3,392-7,030-7,353-8,430-9,668-9,400-13,959-14,763
Cash from financing3098781,32922.0-852-417-3246441,70015,725951-1,813-1,930-5761,9452,336999-2084,6962,689
Depreciation and amortisation1,4861,7041,7881,8312,0482,1452,2982,2932,3952,9233,4573,5493,3313,9053,9734,0644,9865,2666,0306,414
Share-based compensationn/a20.023.022.022.023.025.027.06.03.0n/an/an/an/an/an/an/an/an/an/a
Buybacksn/an/an/a0.00.043020.05.01150.00.0n/an/an/an/an/an/an/an/an/a
Dividends paid1,2051,2801,3691,4961,6011,6931,7621,8661,9592,1042,3002,4252,5702,6852,7772,9073,0352,9543,0153,160
Dividend per share$1.59$1.66$1.73$1.80$1.87$1.94$2.01$2.08$2.15$2.22$2.30$2.38$2.46$2.54$2.62$2.70$2.78$2.86$2.94n/a
Diluted shares, weighted761m775m796m837m864m879m881m901m914m958m1,008m1,025m1,054m1,065m1,068m1,081m1,098m1,102m1,109m1,160m
Shares outstanding at period endn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,164m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007 †FY2008FY2009FY2010FY2011FY2012FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity13,09213,98315,58516,90918,28518,29719,00819,94920,59224,75824,16724,72327,50527,97227,87430,40831,44433,20836,01644,806
Non-controlling interestn/an/an/an/an/a7077569771,3901,8541,3614,3164,2544,2624,4024,1243,7813,4662,851n/a
Redeemable equityn/an/an/an/a3753753753751181183242912912912910.0n/an/an/an/a
Short-term borrowingsn/a9536391,297859n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Debtn/a16,81618,13118,15418,64722,43423,29524,77628,73847,45750,79346,84946,84249,18953,71757,55062,00064,82472,59174,001
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a1,6151,6111,5031,3881,3071,2531,2871,284
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a205214199296287278752n/a
Other liabilitiesn/a16,59417,69118,67221,10121,33620,83024,15627,48035,51034,36040,73537,98839,39639,54841,12540,51242,15142,22344,113
Total liabilities and equityn/a48,34752,04655,03259,26763,14964,26470,23378,318109,697111,005116,914118,700122,935127,534134,891139,331145,180155,720164,204
Owned
Fixed assetsn/a35,87839,23042,00245,01048,39051,20854,86861,11478,44679,87280,79783,08087,63491,10894,57099,844n/an/an/a
Goodwilln/an/an/an/an/an/an/an/a2.06,2516,2685,3155,2805,2805,2805,1615,1615,1615,1615,161
Intangible assetsn/an/an/an/an/an/an/an/a317970873613536487445406368332300281
Investmentsn/a1,9881,9632,2712,1182,1892,3482,4922,75211,42011,51010,29610,33410,38610,2029,7579,986n/an/an/a
Cash and equivalents2014176904471,3156286597101,4041,9752,1301,3961,9751,0651,7981,9177481,0701,6391,740
Other assetsn/a10,06410,16310,31210,82411,94210,04912,16312,72910,63510,35218,49717,49518,08318,70123,08023,224138,617148,620157,022
Total assetsn/a48,34752,04655,03259,26763,14964,26470,23378,318109,697111,005116,914118,700122,935127,534134,891139,331145,180155,720164,204
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.4%7.7%0.3%7.9%
Profit growth, compounded6.3%6.8%7.2%12.0%
Return on equity, average10.9%11.6%12.7%12.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Southern's revenue in fiscal 2025?

Southern (SO) reported revenue of $29.6 billion for fiscal 2025, the year ended 31 December 2025, up 10.6% on the year before.

How much did Southern earn in fiscal 2025?

Net income was $4.3 billion for fiscal 2025, and diluted earnings per share $3.92.

What is Southern's P/E ratio?

At the close of 6 November 2026, Southern traded at 21.1 times its earnings over the twelve months to 30 September 2026.

What is Southern's market cap?

The market cap of Southern was $107.5 billion at the close of 6 November 2026.

Does Southern pay a dividend?

Yes. Southern declared $3.00 a share in dividends over the four quarters to 30 September 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
NextEra Energy Inc. NEE$182.3 billion15.6718.9%30.0%9.6%1.852.8%
Southern Co. SO$107.5 billion21.1311.1%24.7%7.9%1.653.2%
Constellation Energy Corp. CEG$88.7 billion24.3410.8%14.7%26.0%0.770.7%
American Electric Power Co. Inc. AEP$68.9 billion20.6710.2%23.4%11.1%1.603.0%
Dominion Energy, Inc. D$60.4 billion22.799.1%22.5%21.5%1.663.9%
Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
Vistra Corp. VST$41.9 billion21.0440.5%18.5%3.8%3.570.7%
DTE Energy Co. DTE$28.2 billion20.5810.8%13.1%12.4%2.253.3%
Centerpoint Energy Inc. CNP$27.0 billion23.259.8%24.4%7.8%2.122.3%
PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
Firstenergy Corp. FE$26.9 billion22.339.3%14.9%12.2%2.323.8%
Eversource Energy ES$26.3 billion18.438.7%21.5%4.6%1.764.5%
All 96 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
NextEra Energy Inc. NEE$182.3 billion15.6718.9%30.0%9.6%1.852.8%
Southern Co. SO$107.5 billion21.1311.1%24.7%7.9%1.653.2%
Duke Energy Corp. DUK$99.7 billion18.719.7%28.5%6.8%1.683.3%
Constellation Energy Corp. CEG$88.7 billion24.3410.8%14.7%26.0%0.770.7%
National Grid plc NGG *$86.4 billion19.038.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$80.1 billion25.2319.9%37.5%8.8%2.023.2%
Enterprise Products Partners L.P. EPD$79.8 billion12.26n/a12.7%21.5%n/an/a
American Electric Power Co. Inc. AEP$68.9 billion20.6710.2%23.4%11.1%1.603.0%
Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Dominion Energy, Inc. D$60.4 billion22.799.1%22.5%21.5%1.663.9%
Cheniere Energy, Inc. LNG$56.8 billion19.4046.3%28.1%22.5%3.680.8%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
ONEOK Inc. OKE$53.7 billion13.2317.4%14.2%36.8%1.225.0%
Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
Sempra SRE$51.1 billion16.759.2%n/a-0.9%1.123.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
Vistra Corp. VST$41.9 billion21.0440.5%18.5%3.8%3.570.7%
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
American Water Works Company, Inc. AWK$29.9 billion26.059.5%37.0%5.4%1.372.3%
Atmos Energy Corp. ATO$29.3 billion20.679.2%37.0%6.5%0.682.0%
Venture Global, Inc. VG$28.8 billion9.0838.9%37.6%100.7%4.880.3%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
DTE Energy Co. DTE$28.2 billion20.5810.8%13.1%12.4%2.253.3%
Cheniere Energy Partners, L.P. CQP$27.8 billionn/an/a34.2%13.2%n/an/a
Centerpoint Energy Inc. CNP$27.0 billion23.259.8%24.4%7.8%2.122.3%
PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
Firstenergy Corp. FE$26.9 billion22.339.3%14.9%12.2%2.323.8%
Eversource Energy ES$26.3 billion18.438.7%21.5%4.6%1.764.5%
Edison International EIX$22.8 billion6.3220.3%31.8%2.6%2.335.9%
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
NRG Energy, Inc. NRG$18.6 billion22.9217.5%6.1%12.8%4.822.1%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
Talen Energy Corp. TLN$16.0 billionn/a-16.1%2.0%71.9%6.06n/a
Essential Utilities, Inc. WTRG$13.0 billion22.847.9%72.4%9.2%1.223.2%
Pinnacle West Capital Corp. PNW$12.6 billion19.598.8%20.7%7.5%1.533.5%
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
OGE Energy Corp. OGE$10.5 billion19.0310.6%25.8%2.4%1.123.4%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Entergy Arkansas, LLC EAI$8.7 billion4.1910.3%24.6%n/a1.7513.4%
Idacorp Inc. IDA$8.6 billion22.519.2%23.5%4.5%0.952.4%
UGI Corp. UGI$7.9 billion12.3912.9%16.2%-0.5%1.354.0%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Clearway Energy, Inc. CWEN$7.0 billion44.271.7%13.4%9.9%1.665.4%
National Fuel Gas Co. NFG$7.0 billion10.2117.2%40.3%15.1%0.912.9%
Southwest Gas Holdings, Inc. SWX$6.6 billionn/an/an/an/a0.862.8%
Black Hills Corp. BKH$6.5 billion20.418.0%24.3%2.8%1.133.3%
Txnm Energy Inc. TXNM$6.4 billion28.076.3%24.4%10.0%1.652.9%
Ormat Technologies, Inc. ORA$5.7 billion42.745.1%16.7%28.6%0.600.5%
New Jersey Resources Corp. NJR$5.5 billion15.0113.9%24.8%6.4%1.403.5%
Portland General Electric Co. POR$5.5 billion19.736.3%14.4%1.2%1.164.6%
Spire Inc. SR$5.2 billion9.9015.3%19.7%4.1%2.033.7%
NorthWestern Energy Group, Inc. NWE$5.1 billion31.225.7%18.1%10.1%1.273.2%
One Gas, Inc. OGS$5.1 billion17.258.3%21.1%-1.9%1.003.3%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
MDU Resources Group Inc. MDU$4.0 billion20.026.5%17.1%-0.7%0.873.0%
American States Water Co. AWR$3.6 billion24.6512.6%32.2%11.1%0.792.3%
Chesapeake Utilities Corp. CPK$3.4 billion22.129.0%27.2%13.9%1.042.0%
Avista Corp. AVA$3.4 billion13.498.7%18.9%-1.4%1.194.9%
Otter Tail Corp. OTTR$3.3 billion18.719.2%15.2%0.0%0.652.9%
California Water Service Group CWT$3.2 billion22.797.2%19.4%4.8%0.862.6%
H2O America HTO$3.0 billion24.704.8%20.7%4.2%0.952.8%
MGE Energy Inc. MGEE$3.0 billion18.5510.9%22.5%8.0%0.632.3%
Fervo Energy Co. FRVO$2.7 billionn/an/an/an/a0.08n/a
Northwest Natural Holding Co. NWN$2.2 billion17.138.3%22.9%3.2%1.843.8%
Centuri Holdings, Inc. CTRI$2.1 billion36.326.0%3.1%31.5%0.90n/a
NGL Energy Partners LP NGL$1.9 billionn/an/a1.9%18.0%n/an/a
NextDecade Corp. NEXT$1.6 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.5 billion6.3912.8%10.5%13.6%1.28n/a
New Fortress Energy Inc. NFE$1.3 billionn/an/a-84.3%-36.9%n/an/a
Excelerate Energy, Inc. EE$1.2 billion25.252.1%23.8%16.2%0.460.9%
Middlesex Water Co. MSEX$1.1 billion21.639.5%30.5%8.9%0.802.4%
Unitil Corp. UTL$1.0 billion18.318.6%18.6%21.1%1.543.3%
Xplr Infrastructure, LP XIFR$689 million4.601.4%6.4%-1.1%0.57n/a
York Water Co. YORW$530 million19.678.5%37.9%13.7%0.652.8%
Hallador Energy Co. HNRG$476 million505.00-0.5%3.7%6.5%0.23n/a
Genie Energy Ltd. GNE$462 million16.1810.9%5.2%1.7%0.031.7%
Consolidated Water Co. Ltd. CWCO$436 million27.527.2%12.3%-1.2%0.002.1%
Clean Energy Fuels Corp. CLNE$421 millionn/a-13.6%-4.0%6.3%0.39n/a
Montauk Renewables, Inc. MNTK$388 million54.203.0%0.6%4.3%0.57n/a
Artesian Resources Corp. ARTNA$354 million15.049.2%25.0%5.9%0.723.7%
Cadiz Inc. CDZI$300 millionn/a-789.7%-236.1%-21.3%18.65n/a
Summit Midstream Corp. SMC$288 millionn/a-0.6%14.6%20.9%2.07n/a
Pure Cycle Corp. PCYO$262 million17.859.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$241 million17.2911.4%17.3%13.8%1.213.7%
Global Water Resources, Inc. GWRS$219 million81.112.6%12.6%9.8%1.414.1%
Stabilis Solutions, Inc. SLNG$67 millionn/a-15.0%-19.4%-30.3%0.14n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
29 companies share its SEC industry code (Electric Services); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on SO

Dividends$3.00 a share over the four quarters to 30 September 2026, a 3.25% yield
Filings27 in twelve months: 15 current reports (8-K), about 7 other events; 4 results of operations; 2 new financial obligation; 1 charter or bylaw amendment, or fiscal year change; 1 unregistered sale of equity
Planned insider sales15 Form 144 notices in twelve months, $6.0 million; latest 6 November 2026
Options tapeput/call 0.6 by open interest at the 6 November 2026 close; the straddle prices a 2.6% move to 13 November 2026
13F holders2,377 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading14 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest29.4 million shares short, 4.75 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 20265 November 2026EDGAR
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202519 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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