The Southern Company

SONYSEUtilities● Active

$92.60

+$0.98(+1.07%)

Market Cap$104.4B

P/E Ratio—

52W High$100.84

52W Low$83.8

Avg Volume5.2M

Open$92.14

Beta0.34

Overview

The Southern Company (SO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

SO · free cash flow · updated Jun 8, 2026

Core FCF metrics

SO · FCF · TTM · margin & CAGR

Free cash flow was −$3.59B for FY2025 (fiscal year ending 2025-12-31), down 531.0% year-over-year The FCF margin was -12.2%.

FY2025 Free Cash Flow−$3.59B▼ -531.0% YoY

Trailing 12M (TTM)−$3.82Btrailing 4 quarters sum

FCF Margin-12.2%−$3.59B ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

SO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$9.80B(13.39B)−$3.59B▼ 531.0%-12.2%

FY2024$9.79B(8.96B)$833.0M▲ +154.0%3.1%

FY2023$7.55B(9.10B)−$1.54B▲ +4.9%-6.1%

FY2022$6.30B(7.92B)−$1.62B▼ 51.4%-5.5%

FY2021$6.17B(7.24B)−$1.07B▼ 43.8%-4.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

SO · P/FCF · FCF yield · FCF per share

The Southern Company (SO) reported negative free cash flow of −$3.59B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

SO · cash flow statement · operating / investing / financing

For FY2025, The Southern Company generated $9.80B in operating cash flow and spent 13.39B in capital expenditures, yielding −$3.59B in free cash flow.

Operating Activities

+$9.80B

Cash from core business operations

2025-12-31

Investing Activities

−$13.96B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$4.70B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($9.80B) − |CapEx| (13.39B) = FCF (−$3.59B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Utilities)

SO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

The Southern CompanyYOU

−$3.59B-531.0%-12.1%

Loss

Constellation Energy Corporation

CEG

$1.29B+125.6%5.0%

35%

Duke Energy Corporation

Utilities · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

The Southern Company (SO) reported free cash flow of −$3.59B for FY2025 (fiscal year ending 2025-12-31), down 531.0% year-over-year. The FCF margin was -12.2%.

Based on available data, The Southern Company has maintained positive free cash flow for at least 4 fiscal year(s). FCF peaked at $1.38B in FY2011.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

SO free cash flow · 8 questions

The Southern Company free cash flow was −$3.59B for FY2025, down 531.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$3.82B.

SO free cash flowSO FCFSO FCF 2025SO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · The Southern Company · The Southern Company SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026