Southern (SO) FY2020 results: revenue $20.4 billion, down 4.9% on the year
Southern Co. (SO) reported revenue of $20.4 billion for fiscal 2020, the year ended 31 December 2020, down 4.9% on the year before. Net income was $3.1 billion, down 34.2%, and diluted earnings per share $2.93. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$20.4 billion
-4.9% on the year
FY2013FY2020
Operating margin
24.0%
36.1% a year earlier
FY2013FY2020
Net income
$3.1 billion
-34.2% on the year
FY2013FY2020
Diluted EPS
$2.93
-34.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
20,375
21,419
23,495
-4.9%
Operating income
4,885
7,736
4,191
-36.9%
Operating margin
24.0%
36.1%
17.8%
Pre-tax income
3,496
6,542
2,749
-46.6%
Income tax
393
1,798
449
-78.1%
Effective tax rate
11.2%
27.5%
16.3%
Net income
3,119
4,739
2,226
-34.2%
Net margin
15.3%
22.1%
9.5%
Diluted EPS
$2.93
$4.50
$2.17
-34.9%
$ million except per share. 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.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
6,696
5,781
6,945
+15.8%
Capital expenditure
7,522
7,555
8,001
-0.4%
Free cash flow
-826
-1,774
-1,056
Free cash flow margin
-4.1%
-8.3%
-4.5%
Cash from investing
-7,030
-3,392
-5,760
Cash from financing
-576
-1,930
-1,813
Depreciation and amortisation
3,905
3,331
3,549
+17.2%
Dividends paid
2,685
2,570
2,425
+4.5%
Dividend per share
$2.54
$2.46
$2.38
+3.3%
Diluted shares, weighted
1,065m
1,054m
1,025m
+1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
27,972
27,505
24,723
+1.7%
Non-controlling interest
4,262
4,254
4,316
+0.2%
Redeemable equity
291
291
291
0.0%
Debt
49,189
46,842
46,849
+5.0%
Operating lease liabilities
1,611
1,615
n/a
-0.2%
Finance lease liabilities
214
205
n/a
+4.4%
Other liabilities
39,396
37,988
40,735
+3.7%
Total liabilities and equity
122,935
118,700
116,914
+3.6%
Fixed assets
87,634
83,080
80,797
+5.5%
Goodwill
5,280
5,280
5,315
0.0%
Intangible assets
487
536
613
-9.1%
Investments
10,386
10,334
10,296
+0.5%
Cash and equivalents
1,065
1,975
1,396
-46.1%
Other assets
18,083
17,495
18,497
+3.4%
Total assets
122,935
118,700
116,914
+3.6%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.