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SO

Southern Company

US$83.07+0.22% (US$0.18)
Day's range
US$82.01 – US$83.27
Day's volume
US$179.1m
52-week range
US$82.06 – US$97.49

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SO in numbers

Market cap
US$93.8bn
P/E
21.46
Dividend yield (12m)
3.61%
Net debt/EBITDA
0.05

The 12-month dividend yield of SO is 3.61%, below its 5-year average of 3.68%.

SO price history

01/10/202501/10/2026
Compare with

SO risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-8.69%+36.96%+60.13%
Volatility (annualised)15.78%15.09%17.96%
Largest drawdown-13.47%-13.47%-16.45%
Positive months5/1219/3633/60

How much did investing in SO return?

US$1,000.00 invested on 01/10/2021 would be worth US$1,600.24 today.

Value today in SO
US$1,600.24
Return over the period
+60.02%
Return per year
+9.86%
In the S&P 500
US$1,658.93

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

SO fundamentals

Valuation

  • P/E
    21.46
  • P/B
    —
  • EV/EBITDA
    7.00
  • EV/EBIT
    12.95
  • EV/Revenue
    3.13
  • P/EBIT
    12.86
  • P/S
    3.11
  • P/OCF
    9.59
  • P/FCF
    -27.05
  • Earnings yield
    7.72%
  • PEG ratio
    —
  • Earnings per share
    US$3.87
  • Book value per share
    —

Debt

  • Net debt
    US$692m
  • Net debt/EBITDA
    0.05
  • Net debt/Equity
    —
  • Debt/Equity
    —
  • Current ratio
    0.65
  • Quick ratio
    —
  • Cash ratio
    0.06

Efficiency

  • Gross margin
    —
  • EBITDA margin
    44.71%
  • Operating margin
    24.17%
  • Net margin
    14.46%
  • Asset turnover
    0.19

Profitability

  • ROE
    —
  • ROA
    2.78%
  • ROIC
    —
  • Payout
    77.51%

Growth

  • Revenue CAGR (5 years)
    7.25%
  • Earnings CAGR (5 years)
    —
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is SO's fair price?

Two classic value formulas, with today's numbers. The current price is US$83.07.

Graham's fair price
—
SO's earnings per share and book value per share are not available, so the formula cannot be calculated.

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$46.33
44.22% below the price

US$2.78 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

SO indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E22.4920.5219.24—————
P/B2.712.722.432.562.612.322.441.84
EV/EBITDA7.267.347.228.329.437.336.086.07
Dividend yield3.37%3.47%3.96%3.78%3.82%4.13%3.86%5.42%
Earnings per shareUS$3.88US$4.01US$3.64—————
Book value per shareUS$32.17US$30.28US$28.82US$27.93US$26.29US$26.47US$26.09US$23.90
ROE12.05%13.25%12.64%—————
ROIC17.32%17.20%15.63%14.02%12.05%15.76%20.34%13.36%
EBITDA margin45.05%46.15%42.81%32.22%33.19%43.14%51.67%32.94%
Net margin14.69%16.47%15.74%—————
Net debt/EBITDA-0.070.020.140.07-0.05-0.050.010.20

SO financial statements

Line202520242023202220212020
Net revenueUS$29.6bnUS$26.7bnUS$25.3bnUS$29.3bnUS$23.1bnUS$20.4bn
Cost of sales——————
Gross profit——————
EBITDAUS$13.3bnUS$12.3bnUS$10.8bnUS$9.4bnUS$7.7bnUS$8.8bn
EBITUS$7.3bnUS$7.1bnUS$5.8bnUS$5.4bnUS$3.7bnUS$4.9bn
Net finance result-US$2.3bn-US$1.8bn-US$1.5bn-US$1.1bn-US$1.1bn-US$1.4bn
Profit before taxUS$5bnUS$5.2bnUS$4.3bnUS$4.2bnUS$2.6bnUS$3.5bn
Income tax-US$828m-US$969m-US$496m-US$795m-US$267m-US$393m
Net incomeUS$4.3bnUS$4.4bnUS$4bn———

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does SO pay dividends?

Dividend yield per year

  • 4.78%2017
  • 5.42%2018
  • 3.86%2019
  • 4.13%2020
  • 3.82%2021
  • 3.78%2022
  • 3.96%2023
  • 3.47%2024
  • 3.37%2025
  • 2.72%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend14/08/202608/09/2026US$0.76
Dividend15/05/202608/06/2026US$0.76
Dividend16/02/202606/03/2026US$0.74
Dividend14/11/202508/12/2025US$0.74
Dividend15/08/202508/09/2025US$0.74
Dividend16/05/202506/06/2025US$0.74
Dividend17/02/202506/03/2025US$0.72
Dividend15/11/202406/12/2024US$0.72
Dividend16/08/202406/09/2024US$0.72
Dividend16/05/202406/06/2024US$0.72
Dividend15/02/202406/03/2024US$0.70
Dividend16/11/202306/12/2023US$0.70
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend17/08/202306/09/2023US$0.70
Dividend11/05/202306/06/2023US$0.70
Dividend16/02/202306/03/2023US$0.68
Dividend17/11/202206/12/2022US$0.68
Dividend11/08/202206/09/2022US$0.68
Dividend12/05/202206/06/2022US$0.68
Dividend17/02/202207/03/2022US$0.66
Dividend11/11/202106/12/2021US$0.66
Dividend12/08/202107/09/2021US$0.66
Dividend13/05/202107/06/2021US$0.66
Dividend11/02/202108/03/2021US$0.64
Dividend12/11/202007/12/2020US$0.64
Dividend13/08/202008/09/2020US$0.64
Dividend14/05/202008/06/2020US$0.64
Dividend13/02/202006/03/2020US$0.62
Dividend14/11/201906/12/2019US$0.62
Dividend15/08/201906/09/2019US$0.62
Dividend16/05/201906/06/2019US$0.62
Dividend14/02/201906/03/2019US$0.60
Dividend15/11/201806/12/2018US$0.60
Dividend16/08/201806/09/2018US$0.60
Dividend17/05/201806/06/2018US$0.60
Dividend15/02/201806/03/2018US$0.58
Dividend16/11/201706/12/2017US$0.58
Dividend16/08/201706/09/2017US$0.58
Dividend10/05/201706/06/2017US$0.58
Dividend15/02/201706/03/2017US$0.56
Dividend16/11/201606/12/2016US$0.56

About Southern Company

Sector
Transportation and utilities

Questions about SO

How much is SO today?

SO is at US$83.07 (0.22% on the day), last traded on 01/10/2026.

How much did SO pay in dividends in 2025?

SO paid US$2.94 per share in 2025, a dividend yield of 3.37%.

How much did SO return in 12 months?

SO returned -8.69% in 12 months, with annualised volatility of 15.78% and a largest drawdown of -13.47%.