Southern (SO) Financials

$91.14 +1.28 (+1.42%)

As of 03:58 PM Eastern

Annual Income Statements for Southern

This table shows Southern's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	2,367	2,448	4,020	2,226	4,739	3,119	2,393	3,524	3,976	4,401
Consolidated Net Income / (Loss)	2,435	2,529	1,992	2,300	4,744	3,103	2,309	3,428	3,849	4,260
Net Income / (Loss) Continuing Operations	2,435	5,594	62,514	2,300	4,744	3,103	2,309	3,428	3,849	4,260
Total Pre-Tax Income	3,629	3,480	2,428	2,749	6,542	3,496	2,576	4,223	4,345	5,229
Total Operating Income	4,282	4,486	4,440	4,191	7,736	4,885	3,698	5,370	5,826	7,068
Total Gross Profit	7,678	19,896	92,326	9,616	9,603	9,897	10,247	10,627	11,708	13,342
Total Revenue	17,489	19,896	117,579	23,495	21,419	20,375	23,113	29,279	25,253	26,724
Operating Revenue	17,442	19,896	117,579	23,495	21,419	20,375	23,113	29,279	25,253	26,724
Total Cost of Revenue	9,811	0.00	25,253	13,879	11,816	10,478	12,866	18,652	13,545	13,382
Operating Cost of Revenue	9,811	-	25,253	13,879	11,816	10,478	12,866	18,652	13,545	13,382
Total Operating Expenses	3,396	12,345	24,547	5,425	1,867	5,012	6,549	5,257	5,882	6,274
Depreciation Expense	2,034	5,425	6,680	3,131	3,038	3,518	3,565	3,663	4,525	4,755
Other Operating Expenses / (Income)	997	6,923	9,103	1,315	1,230	1,234	1,290	1,411	1,425	1,540
Other Special Charges / (Income)	365	-3.00	-2.00	769	-2,569	260	1,692	183	-68	-21
Total Other Income / (Expense), net	-653	-1,006	-5,532	-1,442	-1,194	-1,389	-1,122	-1,147	-1,481	-1,839
Interest Expense	840	1,317	4,253	1,842	1,736	1,821	1,837	2,022	2,446	2,743
Interest & Investment Income	226	261	377	286	290	302	266	375	412	374
Other Income / (Expense), net	-39	50	-1,656	114	252	130	449	500	553	530
Income Tax Expense	1,194	951	926	449	1,798	393	267	795	496	969
Preferred Stock Dividends Declared	54	45	72	16	15	15	15	11	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	14	36	92	58	-10	-31	-99	-107	-127	-141
Basic Earnings per Share	$2.60	$2.57	$0.84	$2.18	$4.53	$2.95	$2.26	$3.28	$3.64	$4.02
Weighted Average Basic Shares Outstanding	910M	951M	1B	1.02B	1.05B	1.06B	1.06B	1.08B	1.09B	1.10B
Diluted Earnings per Share	$2.59	$2.55	$0.84	$2.17	$4.50	$2.93	$2.24	$3.26	$3.62	$3.99
Weighted Average Diluted Shares Outstanding	914M	958M	1.01B	1.03B	1.05B	1.07B	1.07B	1.08B	1.10B	1.10B
Weighted Average Basic & Diluted Shares Outstanding	884.20M	1.04B	1.00B	1.08B	1.10B	1.10B	1.10B	1.13B	1.13B	1.14B
Cash Dividends to Common per Share	$2.15	$2.22	$2.30	$2.38	$2.46	$2.54	$2.62	$2.70	$2.78	$2.86

This table shows Southern's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	1,472	-87	862	838	1,422	854	1,129	1,203	1,535	534
Consolidated Net Income / (Loss)	1,487	-139	799	823	1,432	795	1,071	1,188	1,535	466
Net Income / (Loss) Continuing Operations	1,487	-139	799	823	1,432	795	1,071	1,188	1,535	466
Total Pre-Tax Income	1,901	-235	896	921	1,729	799	1,294	1,478	1,912	545
Total Operating Income	2,193	138	1,218	1,290	2,110	1,208	1,703	1,939	2,368	1,058
Total Gross Profit	3,397	1,636	2,723	2,742	3,754	2,489	3,244	3,484	3,953	2,661
Total Revenue	8,378	7,047	6,480	5,748	6,980	6,045	6,646	6,463	7,274	6,341
Operating Revenue	8,378	7,047	6,480	5,748	6,980	6,045	6,646	6,463	7,274	6,341
Total Cost of Revenue	4,981	5,411	3,757	3,006	3,226	3,556	3,402	2,979	3,321	3,680
Operating Cost of Revenue	4,981	5,411	3,757	3,006	3,226	3,556	3,402	2,979	3,321	3,680
Total Operating Expenses	1,204	1,498	1,505	1,452	1,644	1,281	1,541	1,545	1,585	1,603
Depreciation Expense	922	936	1,111	1,112	1,143	1,159	1,145	1,182	1,210	1,218
Other Operating Expenses / (Income)	352	338	394	340	341	350	396	384	375	385
Total Other Income / (Expense), net	-292	-373	-322	-369	-381	-409	-409	-461	-456	-513
Interest Expense	511	561	582	610	620	634	665	694	692	692
Interest & Investment Income	87	104	113	99	98	102	103	82	89	100
Other Income / (Expense), net	132	84	147	142	141	123	153	151	147	79
Income Tax Expense	414	-96	97	98	297	4.00	223	290	377	79
Net Income / (Loss) Attributable to Noncontrolling Interest	12	-52	-63	-15	10	-59	-58	-15	0.00	-68
Basic Earnings per Share	$1.36	($0.09)	$0.79	$0.77	$1.30	$0.78	$1.03	$1.10	$1.40	$0.49
Weighted Average Basic Shares Outstanding	1.08B	1.08B	1.09B	1.09B	1.09B	1.09B	1.09B	1.10B	1.10B	1.10B
Diluted Earnings per Share	$1.35	($0.09)	$0.79	$0.76	$1.29	$0.78	$1.03	$1.09	$1.39	$0.48
Weighted Average Diluted Shares Outstanding	1.09B	1.08B	1.10B	1.10B	1.10B	1.10B	1.10B	1.10B	1.10B	1.10B
Weighted Average Basic & Diluted Shares Outstanding	1.13B	1.13B	1.13B	1.13B	1.13B	1.13B	1.13B	1.14B	1.14B	1.14B

This table details how cash moves in and out of Southern's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	694	489	155	-628	587	-910	761	208	-1,116	-26
Net Cash From Operating Activities	6,274	4,894	6,394	6,945	5,781	6,696	6,169	6,302	7,553	9,788
Net Cash From Continuing Operating Activities	6,847	4,811	6,394	6,945	5,909	6,696	6,169	6,251	7,530	9,582
Net Income / (Loss) Continuing Operations	2,435	2,529	926	2,300	4,744	3,103	2,309	3,428	3,849	4,260
Consolidated Net Income / (Loss)	2,435	2,529	926	2,300	4,744	3,103	2,309	3,428	3,849	4,260
Depreciation Expense	2,395	2,923	3,457	3,549	3,331	3,905	3,973	4,064	4,986	5,266
Non-Cash Adjustments To Reconcile Net Income	197	-1,635	2,798	1,008	-2,204	81	584	-1,743	-1,259	-1,580
Changes in Operating Assets and Liabilities, net	1,841	1,053	-787	175	38	-393	-697	502	-46	1,636
Net Cash From Investing Activities	-7,280	-20,047	-7,190	-5,760	-3,392	-7,030	-7,353	-8,430	-9,668	-9,400
Net Cash From Continuing Investing Activities	-6,824	-20,037	-7,190	-5,760	-3,392	-7,030	-7,353	-8,430	-9,668	-9,400
Purchase of Property, Plant & Equipment	-5,674	-7,555	-7,423	-8,001	-7,555	-7,522	-7,586	-7,923	-9,095	-9,587
Purchase of Investments	-1,584	-1,160	-811	-1,117	-888	-877	-1,598	-1,125	-1,142	-1,551
Divestitures	-	15	97	2,956	5,122	1,049	917	275	164	369
Sale and/or Maturity of Investments	1,430	1,154	805	1,111	882	871	1,593	1,112	1,121	1,535
Other Investing Activities, net	665	-377	1,348	-530	-903	-551	-679	-769	-716	-166
Net Cash From Financing Activities	1,700	15,725	951	-1,813	-1,930	-576	1,945	2,336	999	-208
Net Cash From Continuing Financing Activities	4,883	15,722	951	-1,813	-1,930	-576	1,945	2,336	999	-208
Repayment of Debt	-7,284	-4,135	-4,212	-8,471	-6,197	-6,719	-4,618	-3,790	-6,063	-3,242
Repurchase of Preferred Equity	-412	0.00	-658	-33	-	-	0.00	-298	0.00	0.00
Payment of Dividends	-1,977	-2,176	-2,419	-2,578	-2,826	-2,956	-3,128	-3,166	-3,269	-3,139
Issuance of Debt	11,836	17,593	7,117	5,628	6,210	8,662	9,117	7,782	10,295	6,859
Issuance of Common Equity	597	4,440	873	3,641	1,040	437	574	1,808	36	143
Other Financing Activities, net	2,238	0.00	-	0.00	-157	-	-	-	-	-829
Cash Interest Paid	809	1,066	1,676	1,794	1,651	1,683	1,718	1,758	2,184	2,538
Cash Income Taxes Paid	-9.00	-148	-410	172	276	64	93	146	132	176

This table details how cash moves in and out of Southern's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	278	24	-820	1,027	-354	-969	-89	379	-156	-160
Net Cash From Operating Activities	1,438	1,285	844	2,056	2,840	1,813	1,311	2,688	3,616	2,173
Net Cash From Continuing Operating Activities	1,438	1,234	844	2,081	2,820	1,785	1,311	2,684	3,620	1,967
Net Income / (Loss) Continuing Operations	1,487	-138	799	823	1,431	796	1,071	1,188	1,535	466
Consolidated Net Income / (Loss)	1,487	-138	799	823	1,431	796	1,071	1,188	1,535	466
Depreciation Expense	1,089	980	1,233	1,203	1,263	1,287	1,261	1,311	1,344	1,350
Non-Cash Adjustments To Reconcile Net Income	-1,923	321	565	-1,046	-493	-285	76	-541	-440	-675
Changes in Operating Assets and Liabilities, net	785	71	-1,753	1,101	619	-13	-1,097	726	1,181	826
Net Cash From Investing Activities	-2,492	-2,478	-2,118	-2,170	-2,433	-2,947	-2,385	-1,837	-2,456	-2,722
Net Cash From Continuing Investing Activities	-2,492	-2,478	-2,118	-2,170	-2,433	-2,947	-2,385	-1,837	-2,456	-2,722
Purchase of Property, Plant & Equipment	-2,289	-2,421	-1,850	-2,048	-2,663	-2,534	-1,770	-2,125	-2,311	-3,381
Purchase of Investments	-230	-267	-256	-470	-159	-257	-404	-335	-331	-481
Sale and/or Maturity of Investments	230	258	251	469	159	242	403	335	332	465
Other Investing Activities, net	-204	-203	-366	-144	191	-397	-614	-57	-171	676
Net Cash From Financing Activities	1,332	1,217	454	1,141	-761	165	985	-472	-1,316	595
Net Cash From Continuing Financing Activities	1,332	1,217	454	1,141	-761	165	985	-472	-1,316	595
Repayment of Debt	-946	-374	-1,058	-1,467	-2,190	-1,348	-1,330	-1,417	-1,861	1,366
Payment of Dividends	-801	-825	-790	-716	-913	-850	-767	-720	-841	-811
Issuance of Debt	1,337	2,782	2,266	3,525	2,271	2,233	3,045	1,618	1,358	838
Issuance of Common Equity	1,742	-68	36	-14	4.00	10	37	47	28	31
Cash Interest Paid	589	333	652	391	651	490	714	521	780	523
Cash Income Taxes Paid	3.00	-14	-9.00	-31	51	121	-9.00	71	69	45

This table presents Southern's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	73,626	20,801	26,846	116,914	118,700	122,935	127,534	134,891	139,331	145,180
Total Current Assets	6,526	3,160	3,520	9,583	9,817	8,617	8,965	10,416	10,432	10,694
Cash & Equivalents	1,404	-	-	1,396	1,975	1,065	1,798	1,917	748	1,070
Accounts Receivable	1,903	-	-	3,258	2,981	2,819	2,962	3,716	3,963	4,289
Inventories, net	1,929	1,262	1,190	2,394	2,388	2,488	2,355	2,677	3,352	3,369
Prepaid Expenses	495	524	832	432	314	276	330	347	406	294
Other Current Assets	651	1,374	1,498	2,103	2,159	1,969	1,520	1,759	1,963	1,672
Plant, Property, & Equipment, net	61,114	0.00	0.00	80,797	83,080	87,634	91,108	94,570	99,844	104,689
Plant, Property & Equipment, gross	85,367	-	-	111,835	113,845	120,031	125,187	129,867	136,711	143,942
Accumulated Depreciation	24,253	-	-	31,038	30,765	32,397	34,079	35,297	37,725	40,126
Total Noncurrent Assets	5,986	17,641	23,326	26,313	25,803	26,684	27,461	29,905	29,055	29,797
Long-Term Investments	921	3,864	3,765	12,943	2,482	2,316	1,935	2,045	2,033	2,084
Goodwill	2.00	12,218	18,202	5,315	5,280	5,280	5,280	5,161	5,161	5,161
Intangible Assets	317	1,336	1,153	613	536	487	445	406	368	332
Noncurrent Deferred & Refundable Income Taxes	2,029	-	-	794	798	796	824	866	886	889
Employee Benefit Assets	-	-	-	-	-	-	1,657	2,290	2,079	2,674
Other Noncurrent Operating Assets	2,249	-	-	6,117	15,806	17,525	17,062	13,135	12,849	12,996
Other Noncurrent Nonoperating Assets	468	223	206	531	901	280	258	6,002	5,679	5,661
Total Liabilities & Shareholders' Equity	78,318	8,944	6,310	116,914	118,700	122,935	127,534	134,891	139,331	145,180
Total Liabilities	56,175	5,478	4,335	87,584	86,650	90,410	94,967	100,359	104,106	108,506
Total Current Liabilities	9,129	4,724	3,304	14,286	12,546	12,079	10,921	15,724	13,467	15,993
Short-Term Debt	4,050	-	-	6,113	5,044	4,116	3,597	7,091	4,973	6,256
Accounts Payable	1,905	2,576	2,530	2,580	2,115	2,312	2,169	3,525	2,898	3,701
Accrued Expenses	777	-	-	1,030	992	1,025	1,070	1,127	1,151	1,261
Customer Deposits	404	-	-	522	496	487	479	502	503	486
Current Deferred & Payable Income Tax Liabilities	9.00	430	774	21	0.00	130	50	60	8.00	57
Other Taxes Payable	494	768	-	635	659	699	641	764	860	997
Other Current Liabilities	1,241	950	-	2,488	2,761	2,797	2,382	2,041	2,208	2,360
Other Current Nonoperating Liabilities	249	-	0.00	897	479	513	533	614	652	682
Total Noncurrent Liabilities	46,732	754	1,031	73,456	74,104	78,331	84,046	84,635	90,639	92,513
Long-Term Debt	24,688	-	300	40,894	41,798	45,073	50,120	50,656	57,210	58,768
Capital Lease Obligations	-	-	-	-	-	-	-	1,388	1,307	1,253
Asset Retirement Reserve & Litigation Obligation	5,110	754	731	11,555	11,755	12,310	13,093	12,049	11,530	11,219
Noncurrent Deferred & Payable Income Tax Liabilities	13,728	-	-	15,390	16,257	16,177	16,479	17,404	17,731	18,220
Noncurrent Employee Benefit Liabilities	2,582	-	-	2,147	1,814	2,213	1,550	1,238	1,115	1,011
Other Noncurrent Operating Liabilities	624	-	-	634	2,480	2,558	2,804	1,900	1,746	2,042
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	21,821	3,099	1,360	29,039	31,759	32,234	32,276	34,532	35,225	36,674
Total Preferred & Common Equity	20,431	0.00	0.00	24,723	27,505	27,972	27,874	30,408	31,444	33,208
Total Common Equity	20,431	0.00	0.00	24,761	27,505	27,972	27,874	30,408	31,444	33,208
Common Stock	10,854	-	-	16,258	16,991	17,102	17,229	19,090	19,198	19,595
Retained Earnings	10,010	-	-	8,706	10,877	11,311	10,929	11,538	12,482	13,750
Treasury Stock	-	-	-	-	-42	-46	-47	-53	-59	-59
Accumulated Other Comprehensive Income / (Loss)	-130	-	-	-203	-321	-395	-237	-167	-177	-78
Noncontrolling Interest	1,390	3,099	1,360	4,316	4,254	4,262	4,402	4,124	3,781	3,466

This table presents Southern's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	134,005	134,891	134,756	137,116	138,321	139,331	140,120	141,937	143,956	145,180
Total Current Assets	10,363	10,416	9,555	10,979	11,088	10,432	10,543	10,993	11,040	10,694
Cash & Equivalents	2,009	1,917	1,053	2,123	1,676	748	713	1,152	1,018	1,070
Accounts Receivable	3,269	3,716	3,400	3,746	2,699	3,963	3,245	3,587	3,728	4,289
Inventories, net	2,681	2,677	2,750	2,963	3,148	3,352	3,268	3,287	3,385	3,369
Prepaid Expenses	373	347	626	504	321	406	474	422	391	294
Other Current Assets	2,031	1,759	1,726	1,643	1,934	1,963	2,142	1,856	1,829	1,672
Plant, Property, & Equipment, net	93,529	94,570	95,630	96,767	98,254	99,844	100,470	101,888	102,897	104,689
Plant, Property & Equipment, gross	128,451	129,867	131,620	133,267	135,453	136,711	138,817	140,883	141,547	143,942
Accumulated Depreciation	34,922	35,297	35,990	36,500	37,199	37,725	38,347	38,995	39,536	40,126
Total Noncurrent Assets	30,113	29,905	29,571	29,370	27,700	29,055	29,107	29,056	30,019	29,797
Long-Term Investments	1,882	2,045	2,024	2,000	2,027	2,033	2,068	2,069	2,071	2,084
Goodwill	5,280	5,161	5,161	5,161	5,161	5,161	5,161	5,161	5,161	5,161
Intangible Assets	415	406	397	386	377	368	359	350	341	332
Noncurrent Deferred & Refundable Income Taxes	854	866	876	892	889	886	888	874	874	889
Employee Benefit Assets	2,019	2,290	2,384	2,478	2,574	2,079	2,184	2,279	2,375	2,674
Other Noncurrent Operating Assets	12,901	13,135	18,495	18,224	10,819	12,849	12,852	12,731	13,712	12,996
Other Noncurrent Nonoperating Assets	6,762	6,002	234	229	5,853	5,679	5,595	5,592	5,485	5,661
Total Liabilities & Shareholders' Equity	134,005	134,891	134,756	137,116	138,321	139,331	140,120	141,937	143,956	145,180
Total Liabilities	98,287	100,359	100,194	102,468	103,017	104,106	104,506	105,826	107,051	108,506
Total Current Liabilities	12,801	15,724	13,893	13,240	13,214	13,467	11,458	12,028	12,165	15,993
Short-Term Debt	4,639	7,091	6,917	5,710	4,802	4,973	4,409	4,134	2,364	6,256
Accounts Payable	3,079	3,525	2,365	2,493	2,942	2,898	2,154	2,445	3,950	3,701
Accrued Expenses	961	1,127	617	719	936	1,151	618	746	1,065	1,261
Customer Deposits	516	502	475	493	511	503	456	466	491	486
Current Deferred & Payable Income Tax Liabilities	129	60	52	76	177	8.00	76	49	37	57
Other Taxes Payable	882	764	435	627	862	860	503	722	985	997
Other Current Liabilities	2,164	2,041	2,545	2,470	2,014	2,208	2,659	2,764	2,477	2,360
Other Current Nonoperating Liabilities	431	614	487	652	573	652	583	702	570	682
Total Noncurrent Liabilities	85,486	84,635	86,301	123,322	89,803	90,639	93,048	93,798	94,886	92,513
Long-Term Debt	50,427	50,656	52,060	55,134	56,003	57,210	59,361	59,883	61,254	58,768
Capital Lease Obligations	-	1,388	-	-	-	1,307	-	-	-	1,253
Asset Retirement Reserve & Litigation Obligation	12,957	12,049	12,130	12,059	11,812	11,530	11,646	11,609	11,184	11,219
Noncurrent Deferred & Payable Income Tax Liabilities	17,341	17,404	17,707	17,679	17,658	17,731	17,848	18,010	18,317	18,220
Noncurrent Employee Benefit Liabilities	1,466	1,238	1,222	1,217	1,184	1,115	1,096	1,109	1,064	1,011
Other Noncurrent Operating Liabilities	3,295	1,900	3,182	3,139	3,146	1,746	3,097	3,187	3,067	2,042
Commitments & Contingencies	-	0.00	-	-	-	0.00	-	-	-	0.00
Total Equity & Noncontrolling Interests	35,476	34,532	34,562	34,648	35,304	35,225	35,614	36,111	36,905	36,674
Total Preferred & Common Equity	35,476	30,408	0.00	0.00	35,304	31,444	35,614	36,111	36,905	33,208
Total Common Equity	35,476	30,408	0.00	0.00	35,304	31,444	35,614	36,111	36,905	33,208
Common Stock	35,476	19,090	-	-	35,304	19,198	35,614	36,111	36,905	19,595
Retained Earnings	-	11,538	-	-	-	12,482	-	-	-	13,750
Treasury Stock	-	-53	-	-	-	-59	-	-	-	-59
Accumulated Other Comprehensive Income / (Loss)	-	-167	-	-	-	-177	-	-	-	-78
Noncontrolling Interest	-	4,124	-	-	-	3,781	-	-	-	3,466

This table displays calculated financial ratios and metrics derived from Southern's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.30%	13.76%	490.97%	-80.02%	-8.84%	-4.87%	13.44%	26.68%	-13.75%	5.83%
EBITDA Growth	12.74%	11.83%	-15.66%	24.45%	45.73%	-21.19%	-8.97%	22.34%	14.41%	13.19%
EBIT Growth	17.93%	6.91%	-38.62%	54.63%	85.55%	-37.22%	-17.31%	41.55%	8.67%	19.11%
NOPAT Growth	16.84%	13.47%	-15.75%	27.66%	59.99%	-22.71%	-23.55%	31.51%	18.40%	11.57%
Net Income Growth	19.89%	3.86%	-21.23%	15.46%	106.26%	-34.59%	-25.59%	48.46%	12.28%	10.68%
EPS Growth	18.81%	-1.54%	-67.06%	158.33%	107.37%	-34.89%	-23.55%	45.54%	11.04%	10.22%
Operating Cash Flow Growth	7.89%	-22.00%	30.65%	8.62%	-16.76%	15.83%	-7.87%	2.16%	19.85%	29.59%
Free Cash Flow Firm Growth	-1,565.53%	184.41%	-113.50%	-774.44%	91.57%	93.94%	-335.33%	403.41%	-157.29%	213.70%
Invested Capital Growth	2,950.78%	-74.44%	67.68%	244.06%	14.18%	6.15%	5.42%	1.80%	8.07%	4.27%
Revenue Q/Q Growth	0.00%	20.40%	394.07%	-80.03%	-1.94%	1.01%	2.89%	4.57%	-3.82%	1.12%
EBITDA Q/Q Growth	1,205.13%	1.73%	9.57%	-7.24%	1.09%	2.02%	-9.39%	3.60%	14.23%	-1.01%
EBIT Q/Q Growth	0.00%	-0.46%	20.10%	-10.92%	2.66%	-0.16%	-17.31%	7.20%	21.04%	-2.49%
NOPAT Q/Q Growth	0.00%	-1.58%	110.07%	-24.66%	1.13%	-0.06%	-18.53%	5.41%	23.26%	-4.68%
Net Income Q/Q Growth	0.00%	-3.55%	216.19%	-36.06%	3.04%	-1.62%	-21.76%	4.42%	32.04%	-7.17%
EPS Q/Q Growth	0.00%	-3.77%	55.56%	-9.21%	3.21%	-1.68%	-20.00%	3.49%	31.64%	-6.99%
Operating Cash Flow Q/Q Growth	304.77%	-10.73%	9.32%	4.72%	-8.77%	9.41%	-5.92%	3.23%	7.52%	3.82%
Free Cash Flow Firm Q/Q Growth	-7,698.55%	162.11%	-111.14%	7.82%	-450.53%	-103.95%	86.78%	-60.63%	-788.99%	272.84%
Invested Capital Q/Q Growth	7,935.83%	-81.48%	2.38%	-6.24%	0.48%	8.38%	-1.06%	4.66%	7.28%	3.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.90%	100.00%	78.52%	40.93%	44.83%	48.57%	44.33%	36.30%	46.36%	49.93%
EBITDA Margin	37.84%	37.19%	5.31%	33.06%	52.85%	43.78%	35.13%	33.93%	45.00%	48.14%
Operating Margin	24.48%	22.55%	3.78%	17.84%	36.12%	23.98%	16.00%	18.34%	23.07%	26.45%
EBIT Margin	24.26%	22.80%	2.37%	18.32%	37.29%	24.61%	17.94%	20.05%	25.26%	28.43%
Profit (Net Income) Margin	13.92%	12.71%	1.69%	9.79%	22.15%	15.23%	9.99%	11.71%	15.24%	15.94%
Tax Burden Percent	67.10%	72.67%	82.04%	83.67%	72.52%	88.76%	89.64%	81.17%	88.58%	81.47%
Interest Burden Percent	85.53%	76.72%	87.21%	63.86%	81.90%	69.71%	62.12%	71.94%	68.11%	68.82%
Effective Tax Rate	32.90%	27.33%	38.14%	16.33%	27.48%	11.24%	10.36%	18.83%	11.42%	18.53%
Return on Invested Capital (ROIC)	13.55%	11.81%	18.26%	8.38%	8.08%	5.68%	4.11%	5.22%	5.88%	6.19%
ROIC Less NNEP Spread (ROIC-NNEP)	8.81%	6.90%	12.14%	3.77%	5.85%	2.88%	2.02%	3.35%	3.40%	3.56%
Return on Net Nonoperating Assets (RNNOA)	6.80%	8.06%	54.96%	6.31%	7.38%	3.93%	2.99%	5.00%	5.15%	5.66%
Return on Equity (ROE)	20.35%	19.88%	73.22%	14.69%	15.46%	9.61%	7.09%	10.22%	11.04%	11.85%
Cash Return on Invested Capital (CROIC)	-96.97%	130.39%	-32.30%	-101.54%	-5.16%	-0.28%	-1.17%	3.43%	-1.87%	2.01%
Operating Return on Assets (OROA)	11.22%	9.61%	11.69%	5.99%	6.78%	4.15%	3.31%	4.47%	4.65%	5.34%
Return on Assets (ROA)	6.44%	5.36%	8.36%	3.20%	4.03%	2.57%	1.84%	2.61%	2.81%	2.99%
Return on Common Equity (ROCE)	17.37%	15.96%	0.00%	11.62%	13.16%	8.26%	6.09%	8.88%	9.78%	10.66%
Return on Equity Simple (ROE_SIMPLE)	11.92%	0.00%	0.00%	9.30%	17.25%	11.09%	8.28%	11.27%	12.24%	12.83%
Net Operating Profit after Tax (NOPAT)	2,873	3,260	2,747	3,506	5,610	4,336	3,315	4,359	5,161	5,758
NOPAT Margin	16.43%	16.39%	2.34%	14.92%	26.19%	21.28%	14.34%	14.89%	20.44%	21.55%
Net Nonoperating Expense Percent (NNEP)	4.74%	4.92%	6.13%	4.61%	2.24%	2.80%	2.09%	1.86%	2.48%	2.62%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.65%	5.23%	5.59%
Cost of Revenue to Revenue	56.10%	0.00%	21.48%	59.07%	55.17%	51.43%	55.67%	63.70%	53.64%	50.07%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.42%	62.05%	20.88%	23.09%	8.72%	24.60%	28.33%	17.95%	23.29%	23.48%
Earnings before Interest and Taxes (EBIT)	4,243	4,536	2,784	4,305	7,988	5,015	4,147	5,870	6,379	7,598
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,617	7,400	6,241	7,767	11,319	8,920	8,120	9,934	11,365	12,864
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.48	0.00	0.00	1.49	2.06	2.06	2.41	2.41	2.39	2.79
Price to Tangible Book Value (P/TBV)	1.51	0.00	0.00	1.96	2.62	2.59	3.03	2.95	2.90	3.35
Price to Revenue (P/Rev)	1.73	1.80	0.32	1.58	2.65	2.82	2.90	2.50	2.97	3.47
Price to Earnings (P/E)	12.80	14.61	9.34	16.62	11.98	18.44	28.05	20.81	18.89	21.08
Dividend Yield	6.79%	6.38%	6.44%	6.93%	4.72%	4.85%	4.30%	4.16%	4.19%	4.36%
Earnings Yield	7.81%	6.84%	10.71%	6.02%	8.35%	5.42%	3.56%	4.81%	5.30%	4.74%
Enterprise Value to Invested Capital (EV/IC)	1.33	3.15	1.91	1.15	1.40	1.37	1.47	1.57	1.53	1.68
Enterprise Value to Revenue (EV/Rev)	3.33	1.78	0.31	3.16	4.84	5.29	5.27	4.53	5.53	5.96
Enterprise Value to EBITDA (EV/EBITDA)	8.80	4.78	5.78	9.56	9.16	12.09	15.00	13.35	12.28	12.39
Enterprise Value to EBIT (EV/EBIT)	13.73	7.80	12.95	17.25	12.98	21.51	29.37	22.60	21.88	20.97
Enterprise Value to NOPAT (EV/NOPAT)	20.28	10.85	13.13	21.18	18.49	24.88	36.75	30.43	27.05	27.68
Enterprise Value to Operating Cash Flow (EV/OCF)	9.29	7.23	5.64	10.70	17.94	16.11	19.75	21.05	18.48	16.28
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.98	0.00	0.00	0.00	0.00	0.00	46.24	0.00	85.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.31	0.00	0.15	1.60	1.46	1.51	1.65	1.71	1.80	1.81
Long-Term Debt to Equity	1.12	0.00	0.15	1.39	1.30	1.39	1.54	1.51	1.66	1.64
Financial Leverage	0.77	1.17	4.53	1.67	1.26	1.36	1.48	1.49	1.52	1.59
Leverage Ratio	3.16	3.71	8.76	4.59	3.84	3.74	3.85	3.91	3.93	3.96
Compound Leverage Factor	2.70	2.85	7.64	2.93	3.14	2.61	2.39	2.81	2.68	2.72
Debt to Total Capital	56.66%	0.00%	13.19%	61.58%	59.37%	60.20%	62.26%	63.13%	64.32%	64.38%
Short-Term Debt to Total Capital	7.99%	0.00%	0.00%	8.01%	6.39%	5.04%	4.17%	7.57%	5.04%	6.08%
Long-Term Debt to Total Capital	48.68%	0.00%	13.19%	53.57%	52.98%	55.16%	58.09%	55.56%	59.28%	58.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.06%	100.00%	86.81%	6.04%	5.76%	5.57%	5.44%	4.40%	3.83%	3.37%
Common Equity to Total Capital	40.28%	0.00%	0.00%	32.44%	34.86%	34.23%	32.30%	32.46%	31.85%	32.26%
Debt to EBITDA	4.34	0.00	0.05	6.05	4.14	5.51	6.62	5.95	5.59	5.15
Net Debt to EBITDA	3.99	0.00	-0.56	4.21	3.74	5.14	6.16	5.55	5.34	4.91
Long-Term Debt to EBITDA	3.73	0.00	0.05	5.27	3.69	5.05	6.17	5.24	5.15	4.67
Debt to NOPAT	10.00	0.00	0.11	13.41	8.35	11.34	16.21	13.57	12.30	11.51
Net Debt to NOPAT	9.19	0.00	-1.26	9.32	7.56	10.56	15.08	12.66	11.76	10.96
Long-Term Debt to NOPAT	8.59	0.00	0.11	11.66	7.45	10.40	15.12	11.94	11.34	10.42
Altman Z-Score	0.90	5.50	9.93	0.63	0.90	0.78	0.81	0.87	0.86	0.96
Noncontrolling Interest Sharing Ratio	14.64%	19.71%	100.00%	20.90%	14.85%	14.09%	14.20%	13.14%	11.33%	10.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.71	0.67	1.07	0.67	0.78	0.71	0.82	0.66	0.77	0.67
Quick Ratio	0.36	0.00	0.00	0.33	0.40	0.32	0.44	0.36	0.35	0.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-42,628	35,983	-4,857	-42,475	-3,582	-217	-945	2,868	-1,643	1,868
Operating Cash Flow to CapEx	111.96%	64.86%	86.14%	86.80%	76.52%	89.02%	81.32%	79.54%	83.05%	102.10%
Free Cash Flow to Firm to Interest Expense	-50.75	27.32	-1.14	-23.06	-2.06	-0.12	-0.51	1.42	-0.67	0.68
Operating Cash Flow to Interest Expense	7.47	3.72	1.50	3.77	3.33	3.68	3.36	3.12	3.09	3.57
Operating Cash Flow Less CapEx to Interest Expense	0.80	-2.01	-0.24	-0.57	-1.02	-0.45	-0.77	-0.80	-0.63	0.07
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.46	0.42	4.94	0.33	0.18	0.17	0.18	0.22	0.18	0.19
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	6.87	7.03	8.00	8.77	6.58	6.48
Inventory Turnover	0.00	0.00	20.60	7.75	4.94	4.30	5.31	7.41	4.49	3.98
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.26	0.24	0.26	0.32	0.26	0.26
Accounts Payable Turnover	5.61	0.00	9.89	5.43	5.03	4.73	5.74	6.55	4.22	4.06
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	53.16	51.95	45.65	41.62	55.50	56.35
Days Inventory Outstanding (DIO)	0.00	0.00	17.72	47.13	73.86	84.93	68.70	49.24	81.23	91.66
Days Payable Outstanding (DPO)	65.07	0.00	36.90	67.19	72.52	77.11	63.56	55.71	86.54	90.00
Cash Conversion Cycle (CCC)	-65.07	0.00	-19.18	-20.07	54.50	59.77	50.78	35.15	50.19	58.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	43,959	11,236	18,840	64,821	74,013	78,566	82,826	84,317	91,121	95,011
Invested Capital Turnover	0.82	0.72	7.82	0.56	0.31	0.27	0.29	0.35	0.29	0.29
Increase / (Decrease) in Invested Capital	45,501	-32,723	7,604	45,981	9,192	4,553	4,260	1,491	6,804	3,890
Enterprise Value (EV)	58,258	35,378	36,056	74,280	103,698	107,879	121,808	132,633	139,579	159,367
Market Capitalization	30,294	35,776	37,546	37,005	56,768	57,518	67,131	73,336	75,089	92,778
Book Value per Share	$21.38	$0.00	$0.00	$22.99	$25.24	$25.49	$25.32	$26.92	$27.79	$29.22
Tangible Book Value per Share	$21.05	($13.20)	($18.40)	$17.48	$19.90	$20.24	$20.12	$21.99	$22.90	$24.38
Total Capital	50,720	3,466	2,275	76,337	78,892	81,714	86,284	93,667	98,715	102,951
Total Debt	28,738	0.00	300	47,007	46,842	49,189	53,717	59,135	63,490	66,277
Total Long-Term Debt	24,688	0.00	300	40,894	41,798	45,073	50,120	52,044	58,517	60,021
Net Debt	26,413	-3,864	-3,465	32,668	42,385	45,808	49,984	55,173	60,709	63,123
Capital Expenditures (CapEx)	5,604	7,545	7,423	8,001	7,555	7,522	7,586	7,923	9,095	9,587
Debt-free, Cash-free Net Working Capital (DFCFNWC)	43	-1,564	216	14	340	-411	-157	-134	1,190	-113
Debt-free Net Working Capital (DFNWC)	1,447	-1,564	216	1,410	2,315	654	1,641	1,783	1,938	957
Net Working Capital (NWC)	-2,603	-1,564	216	-4,703	-2,729	-3,462	-1,956	-5,308	-3,035	-5,299
Net Nonoperating Expense (NNE)	438	731	755	1,206	866	1,233	1,006	931	1,312	1,498
Net Nonoperating Obligations (NNO)	21,977	7,770	16,865	35,491	41,963	46,041	50,259	49,785	55,896	58,337
Total Depreciation and Amortization (D&A)	2,374	2,864	3,457	3,462	3,331	3,905	3,973	4,064	4,986	5,266
Debt-free, Cash-free Net Working Capital to Revenue	0.25%	-7.86%	0.18%	0.06%	1.59%	-2.02%	-0.68%	-0.46%	4.71%	-0.42%
Debt-free Net Working Capital to Revenue	8.27%	-7.86%	0.18%	6.00%	10.81%	3.21%	7.10%	6.09%	7.67%	3.58%
Net Working Capital to Revenue	-14.88%	-7.86%	0.18%	-20.02%	-12.74%	-16.99%	-8.46%	-18.13%	-12.02%	-19.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.60	$2.57	$0.84	$2.18	$4.53	$2.95	$2.26	$3.28	$3.64	$4.02
Adjusted Weighted Average Basic Shares Outstanding	910M	951M	1B	1.02B	1.05B	1.06B	1.06B	1.08B	1.09B	1.10B
Adjusted Diluted Earnings per Share	$2.59	$2.55	$0.84	$2.17	$4.50	$2.93	$2.24	$3.26	$3.62	$3.99
Adjusted Weighted Average Diluted Shares Outstanding	914M	958M	1.01B	1.03B	1.05B	1.07B	1.07B	1.08B	1.10B	1.10B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.53	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	959.41M	1.04B	1.06B	1.08B	1.10B	1.10B	1.10B	1.13B	1.13B	1.14B
Normalized Net Operating Profit after Tax (NOPAT)	3,118	3,258	2,745	4,326	3,869	4,567	4,833	4,508	5,101	5,741
Normalized NOPAT Margin	17.83%	16.37%	2.34%	18.41%	18.06%	22.41%	20.91%	15.40%	20.20%	21.48%
Pre Tax Income Margin	20.75%	17.49%	2.07%	11.70%	30.54%	17.16%	11.15%	14.42%	17.21%	19.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.05	3.44	0.65	2.34	4.60	2.75	2.26	2.90	2.61	2.77
NOPAT to Interest Expense	3.42	2.48	0.65	1.90	3.23	2.38	1.80	2.16	2.11	2.10
EBIT Less CapEx to Interest Expense	-1.62	-2.28	-1.09	-2.01	0.25	-1.38	-1.87	-1.02	-1.11	-0.73
NOPAT Less CapEx to Interest Expense	-3.25	-3.25	-1.10	-2.44	-1.12	-1.75	-2.33	-1.76	-1.61	-1.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	81.19%	86.04%	121.44%	112.09%	59.57%	95.26%	135.47%	92.36%	84.93%	73.69%
Augmented Payout Ratio	85.91%	86.04%	121.44%	112.09%	59.57%	95.26%	135.47%	92.36%	84.93%	73.69%

This table displays calculated financial ratios and metrics derived from Southern's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	34.31%	22.20%	-2.53%	-20.23%	-16.69%	-14.22%	2.56%	12.44%	4.21%	4.90%
EBITDA Growth	19.83%	40.26%	3.18%	-5.89%	2.93%	117.80%	19.98%	29.07%	9.82%	-5.00%
EBIT Growth	25.40%	229.07%	-10.73%	-20.18%	-3.18%	499.55%	35.97%	45.95%	11.73%	-14.58%
NOPAT Growth	32.93%	141.69%	-7.82%	-10.90%	1.87%	1,144.26%	29.77%	35.20%	8.79%	-24.74%
Net Income Growth	33.96%	51.06%	-19.37%	-24.43%	-3.70%	671.94%	34.04%	44.35%	7.19%	-41.38%
EPS Growth	31.07%	55.00%	-18.56%	-26.21%	-4.44%	966.67%	30.38%	43.42%	7.75%	-38.46%
Operating Cash Flow Growth	-33.95%	18.11%	-46.98%	3.47%	97.50%	41.09%	55.33%	30.74%	27.32%	19.86%
Free Cash Flow Firm Growth	149.00%	68.96%	11.54%	498.91%	-153.95%	-301.75%	120.60%	-213.83%	-98.93%	46.71%
Invested Capital Growth	-3.76%	1.80%	8.47%	-31.90%	5.43%	8.07%	0.19%	58.29%	8.39%	4.27%
Revenue Q/Q Growth	16.26%	-15.89%	-8.05%	-11.30%	21.43%	-13.40%	9.94%	-2.75%	12.55%	-12.83%
EBITDA Q/Q Growth	21.93%	-64.79%	116.14%	1.42%	33.36%	-25.50%	19.06%	9.11%	13.47%	-35.55%
EBIT Q/Q Growth	29.60%	-90.45%	514.86%	4.91%	57.19%	-40.87%	39.44%	12.61%	20.33%	-54.79%
NOPAT Q/Q Growth	32.58%	-94.37%	1,024.37%	6.13%	51.60%	-31.22%	17.27%	10.57%	21.98%	-52.41%
Net Income Q/Q Growth	36.55%	-109.35%	674.82%	3.00%	74.00%	-44.48%	34.72%	10.92%	29.21%	-69.64%
EPS Q/Q Growth	31.07%	-106.67%	977.78%	-3.80%	69.74%	-39.53%	32.05%	5.83%	27.52%	-65.47%
Operating Cash Flow Q/Q Growth	-27.63%	-10.64%	-34.32%	143.60%	38.13%	-36.16%	-27.69%	105.03%	34.52%	-39.91%
Free Cash Flow Firm Q/Q Growth	168.87%	-128.67%	-329.85%	570.08%	-109.31%	-113.46%	138.55%	-2,697.90%	83.72%	42.82%
Invested Capital Q/Q Growth	-4.91%	4.66%	7.59%	-36.40%	47.20%	7.28%	2.44%	0.48%	0.80%	3.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.55%	23.22%	42.02%	47.70%	53.78%	41.17%	48.81%	53.91%	54.34%	41.97%
EBITDA Margin	40.75%	17.06%	40.09%	45.84%	50.34%	43.31%	46.90%	52.62%	53.05%	39.22%
Operating Margin	26.18%	1.96%	18.80%	22.44%	30.23%	19.98%	25.62%	30.00%	32.55%	16.69%
EBIT Margin	27.75%	3.15%	21.06%	24.91%	32.25%	22.02%	27.93%	32.34%	34.58%	17.93%
Profit (Net Income) Margin	17.75%	-1.97%	12.33%	14.32%	20.52%	13.15%	16.12%	18.38%	21.10%	7.35%
Tax Burden Percent	78.22%	59.15%	89.17%	89.36%	82.82%	99.50%	82.77%	80.38%	80.28%	85.50%
Interest Burden Percent	81.76%	-105.86%	65.64%	64.32%	76.81%	60.03%	69.72%	70.72%	76.02%	47.93%
Effective Tax Rate	21.78%	0.00%	10.83%	10.64%	17.18%	0.50%	17.23%	19.62%	19.72%	14.50%
Return on Invested Capital (ROIC)	6.98%	0.48%	5.60%	7.79%	7.94%	5.72%	5.94%	8.46%	7.81%	4.10%
ROIC Less NNEP Spread (ROIC-NNEP)	6.50%	0.01%	5.06%	6.90%	7.28%	4.95%	5.33%	7.51%	7.11%	3.33%
Return on Net Nonoperating Assets (RNNOA)	8.92%	0.01%	8.01%	7.58%	9.68%	7.51%	8.46%	8.31%	10.31%	5.29%
Return on Equity (ROE)	15.90%	0.49%	13.61%	15.36%	17.62%	13.23%	14.40%	16.77%	18.12%	9.39%
Cash Return on Invested Capital (CROIC)	8.87%	3.43%	-3.24%	43.74%	-0.22%	-1.87%	5.85%	-37.23%	-1.22%	2.01%
Operating Return on Assets (OROA)	5.93%	0.70%	4.66%	5.14%	6.22%	4.06%	5.17%	6.06%	6.47%	3.37%
Return on Assets (ROA)	3.80%	-0.44%	2.73%	2.96%	3.96%	2.42%	2.98%	3.44%	3.95%	1.38%
Return on Common Equity (ROCE)	8.15%	0.43%	6.58%	7.47%	17.56%	11.73%	7.31%	8.56%	18.12%	8.44%
Return on Equity Simple (ROE_SIMPLE)	9.25%	0.00%	0.00%	0.00%	8.26%	0.00%	11.57%	12.42%	12.43%	0.00%
Net Operating Profit after Tax (NOPAT)	1,715	97	1,086	1,153	1,748	1,202	1,410	1,559	1,901	905
NOPAT Margin	20.48%	1.37%	16.76%	20.05%	25.04%	19.88%	21.21%	24.11%	26.14%	14.27%
Net Nonoperating Expense Percent (NNEP)	0.48%	0.47%	0.54%	0.89%	0.67%	0.77%	0.61%	0.95%	0.70%	0.77%
Return On Investment Capital (ROIC_SIMPLE)	-	0.10%	-	-	-	1.22%	-	-	-	0.88%
Cost of Revenue to Revenue	59.45%	76.78%	57.98%	52.30%	46.22%	58.83%	51.19%	46.09%	45.66%	58.04%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.37%	21.26%	23.23%	25.26%	23.55%	21.19%	23.19%	23.91%	21.79%	25.28%
Earnings before Interest and Taxes (EBIT)	2,325	222	1,365	1,432	2,251	1,331	1,856	2,090	2,515	1,137
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,414	1,202	2,598	2,635	3,514	2,618	3,117	3,401	3,859	2,487
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.94	2.41	0.00	0.00	1.98	2.39	2.24	2.42	2.77	2.79
Price to Tangible Book Value (P/TBV)	2.31	2.95	0.00	0.00	2.34	2.90	2.65	2.85	3.26	3.35
Price to Revenue (P/Rev)	2.45	2.50	2.52	2.71	2.66	2.97	3.14	3.34	3.87	3.47
Price to Earnings (P/E)	20.22	20.81	21.89	24.29	22.99	18.89	18.80	18.94	21.69	21.08
Dividend Yield	4.31%	4.16%	4.19%	4.14%	4.48%	4.19%	4.96%	4.58%	3.93%	4.36%
Earnings Yield	4.95%	4.81%	4.57%	4.12%	4.35%	5.30%	5.32%	5.28%	4.61%	4.74%
Enterprise Value to Invested Capital (EV/IC)	1.49	1.57	1.43	2.28	1.49	1.53	1.55	1.62	1.77	1.68
Enterprise Value to Revenue (EV/Rev)	4.29	4.53	4.44	4.76	4.83	5.53	5.54	5.67	6.16	5.96
Enterprise Value to EBITDA (EV/EBITDA)	12.52	13.35	12.92	13.37	12.75	12.28	11.85	11.70	12.54	12.39
Enterprise Value to EBIT (EV/EBIT)	21.93	22.60	22.67	24.64	24.07	21.88	20.49	19.67	20.91	20.97
Enterprise Value to NOPAT (EV/NOPAT)	29.04	30.43	30.37	31.91	30.30	27.05	25.67	25.13	26.97	27.68
Enterprise Value to Operating Cash Flow (EV/OCF)	19.67	21.05	23.29	23.41	18.06	18.48	17.55	17.11	17.28	16.28
Enterprise Value to Free Cash Flow (EV/FCFF)	16.49	46.24	0.00	4.23	0.00	0.00	26.52	0.00	0.00	85.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.54	1.71	1.71	1.76	1.72	1.80	1.79	1.77	1.72	1.81
Long-Term Debt to Equity	1.41	1.51	1.51	1.59	1.59	1.66	1.67	1.66	1.66	1.64
Financial Leverage	1.37	1.49	1.58	1.10	1.33	1.52	1.59	1.11	1.45	1.59
Leverage Ratio	3.78	3.91	3.90	3.95	3.83	3.93	3.92	3.94	3.91	3.96
Compound Leverage Factor	3.09	-4.14	2.56	2.54	2.95	2.36	2.73	2.79	2.97	1.90
Debt to Total Capital	60.66%	63.13%	63.05%	63.72%	63.27%	64.32%	64.17%	63.94%	63.29%	64.38%
Short-Term Debt to Total Capital	5.11%	7.57%	7.39%	5.98%	5.00%	5.04%	4.44%	4.13%	2.35%	6.08%
Long-Term Debt to Total Capital	55.55%	55.56%	55.66%	57.74%	58.27%	59.28%	59.73%	59.81%	60.94%	58.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.27%	4.40%	0.00%	0.00%	0.00%	3.83%	0.00%	0.00%	0.00%	3.37%
Common Equity to Total Capital	39.08%	32.46%	0.00%	0.00%	36.73%	31.85%	35.83%	36.06%	36.71%	32.26%
Debt to EBITDA	5.74	5.95	5.89	6.18	6.11	5.59	5.37	5.06	4.90	5.15
Net Debt to EBITDA	5.34	5.55	5.58	5.76	5.74	5.34	5.13	4.81	4.66	4.91
Long-Term Debt to EBITDA	5.26	5.24	5.20	5.60	5.63	5.15	5.00	4.73	4.71	4.67
Debt to NOPAT	13.32	13.57	13.85	14.75	14.52	12.30	11.63	10.87	10.53	11.51
Net Debt to NOPAT	12.38	12.66	13.13	13.75	13.64	11.76	11.12	10.32	10.02	10.96
Long-Term Debt to NOPAT	12.19	11.94	12.23	13.36	13.37	11.34	10.83	10.17	10.14	10.42
Altman Z-Score	0.66	0.73	0.65	0.66	0.63	0.74	0.68	0.72	0.81	0.81
Noncontrolling Interest Sharing Ratio	48.75%	13.14%	51.65%	51.38%	0.34%	11.33%	49.25%	48.97%	0.00%	10.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.81	0.66	0.69	0.83	0.84	0.77	0.92	0.91	0.91	0.67
Quick Ratio	0.41	0.36	0.32	0.44	0.33	0.35	0.35	0.39	0.39	0.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,864	-1,394	-5,994	28,176	-2,624	-5,602	1,235	-32,071	-5,221	-2,985
Operating Cash Flow to CapEx	62.85%	53.08%	48.31%	101.53%	108.23%	71.55%	74.07%	151.01%	158.18%	64.27%
Free Cash Flow to Firm to Interest Expense	9.52	-2.49	-10.30	46.19	-4.23	-8.84	1.86	-46.21	-7.54	-4.31
Operating Cash Flow to Interest Expense	2.81	2.29	1.45	3.37	4.58	2.86	1.97	3.87	5.23	3.14
Operating Cash Flow Less CapEx to Interest Expense	-1.66	-2.03	-1.55	0.05	0.35	-1.14	-0.69	1.31	1.92	-1.75
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.21	0.22	0.22	0.21	0.19	0.18	0.18	0.19	0.19	0.19
Accounts Receivable Turnover	9.07	8.77	9.01	7.61	8.80	6.58	7.65	7.13	8.22	6.48
Inventory Turnover	6.89	7.41	7.47	6.45	5.20	4.49	4.38	4.21	4.06	3.98
Fixed Asset Turnover	0.30	0.32	0.31	0.29	0.27	0.26	0.26	0.26	0.26	0.26
Accounts Payable Turnover	6.41	6.55	7.86	6.26	5.03	4.22	5.84	5.33	3.85	4.06
Days Sales Outstanding (DSO)	40.24	41.62	40.52	47.98	41.48	55.50	47.71	51.21	44.38	56.35
Days Inventory Outstanding (DIO)	52.99	49.24	48.84	56.62	70.22	81.23	83.27	86.65	89.93	91.66
Days Payable Outstanding (DPO)	56.95	55.71	46.45	58.31	72.54	86.54	62.53	68.46	94.87	90.00
Cash Conversion Cycle (CCC)	36.28	35.15	42.91	46.28	39.17	50.19	68.45	69.40	39.44	58.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	80,562	84,317	90,715	57,698	84,934	91,121	90,890	91,328	92,056	95,011
Invested Capital Turnover	0.34	0.35	0.33	0.39	0.32	0.29	0.28	0.35	0.30	0.29
Increase / (Decrease) in Invested Capital	-3,149	1,491	7,080	-27,023	4,372	6,804	175	33,630	7,122	3,890
Enterprise Value (EV)	120,085	132,633	129,332	131,660	126,867	139,579	140,766	148,062	162,927	159,367
Market Capitalization	68,668	73,336	73,432	74,939	69,765	75,089	79,777	87,266	102,398	92,778
Book Value per Share	$32.14	$26.92	$0.00	$0.00	$31.20	$27.79	$32.55	$31.83	$32.50	$29.22
Tangible Book Value per Share	$26.98	$21.99	($4.92)	($4.90)	$26.31	$22.90	$27.51	$26.98	$27.66	$24.38
Total Capital	90,784	93,667	93,539	95,492	96,109	98,715	99,384	100,128	100,523	102,951
Total Debt	55,066	59,135	58,977	60,844	60,805	63,490	63,770	64,017	63,618	66,277
Total Long-Term Debt	50,427	52,044	52,060	55,134	56,003	58,517	59,361	59,883	61,254	60,021
Net Debt	51,175	55,173	55,900	56,721	57,102	60,709	60,989	60,796	60,529	63,123
Capital Expenditures (CapEx)	2,288	2,421	1,747	2,025	2,624	2,534	1,770	1,780	2,286	3,381
Debt-free, Cash-free Net Working Capital (DFCFNWC)	192	-134	1,526	1,326	1,000	1,190	2,781	1,947	221	-113
Debt-free Net Working Capital (DFNWC)	2,201	1,783	2,579	3,449	2,676	1,938	3,494	3,099	1,239	957
Net Working Capital (NWC)	-2,438	-5,308	-4,338	-2,261	-2,126	-3,035	-915	-1,035	-1,125	-5,299
Net Nonoperating Expense (NNE)	228	236	287	330	316	407	339	371	366	439
Net Nonoperating Obligations (NNO)	44,844	49,785	56,153	23,050	49,630	55,896	55,276	55,217	55,151	58,337
Total Depreciation and Amortization (D&A)	1,089	980	1,233	1,203	1,263	1,287	1,261	1,311	1,344	1,350
Debt-free, Cash-free Net Working Capital to Revenue	0.69%	-0.46%	5.24%	4.80%	3.81%	4.71%	10.94%	7.45%	0.84%	-0.42%
Debt-free Net Working Capital to Revenue	7.86%	6.09%	8.86%	12.47%	10.19%	7.67%	13.75%	11.86%	4.69%	3.58%
Net Working Capital to Revenue	-8.71%	-18.13%	-14.90%	-8.18%	-8.10%	-12.02%	-3.60%	-3.96%	-4.26%	-19.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.36	($0.09)	$0.79	$0.77	$1.30	$0.78	$1.03	$1.10	$1.40	$0.49
Adjusted Weighted Average Basic Shares Outstanding	1.08B	1.08B	1.09B	1.09B	1.09B	1.09B	1.09B	1.10B	1.10B	1.10B
Adjusted Diluted Earnings per Share	$1.35	($0.09)	$0.79	$0.76	$1.29	$0.78	$1.03	$1.09	$1.39	$0.48
Adjusted Weighted Average Diluted Shares Outstanding	1.09B	1.08B	1.10B	1.10B	1.10B	1.10B	1.10B	1.10B	1.10B	1.10B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.13B	1.13B	1.13B	1.13B	1.13B	1.13B	1.13B	1.14B	1.14B	1.14B
Normalized Net Operating Profit after Tax (NOPAT)	1,661	253	1,086	1,153	1,880	1,202	1,410	1,542	1,901	905
Normalized NOPAT Margin	19.82%	3.60%	16.76%	20.05%	26.94%	19.88%	21.21%	23.85%	26.14%	14.27%
Pre Tax Income Margin	22.69%	-3.33%	13.83%	16.02%	24.77%	13.22%	19.47%	22.87%	26.29%	8.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.55	0.40	2.35	2.35	3.63	2.10	2.79	3.01	3.63	1.64
NOPAT to Interest Expense	3.36	0.17	1.87	1.89	2.82	1.90	2.12	2.25	2.75	1.31
EBIT Less CapEx to Interest Expense	0.07	-3.92	-0.66	-0.97	-0.60	-1.90	0.13	0.45	0.33	-3.24
NOPAT Less CapEx to Interest Expense	-1.12	-4.14	-1.14	-1.43	-1.41	-2.10	-0.54	-0.32	-0.56	-3.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	97.11%	92.36%	97.56%	105.45%	111.29%	84.93%	78.77%	72.45%	69.25%	73.69%
Augmented Payout Ratio	97.11%	92.36%	97.56%	105.45%	111.29%	84.93%	78.77%	72.45%	69.25%	73.69%

Frequently Asked Questions About Southern's Financials

When does Southern's fiscal year end?

According to the most recent income statement we have on file, Southern's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Southern's net income changed over the last 9 years?

Southern's net income appears to be on an upward trend, with a most recent value of $4.26 billion in 2024, rising from $2.44 billion in 2015. The previous period was $3.85 billion in 2023.

What is Southern's operating income?

Southern's total operating income in 2024 was $7.07 billion, based on the following breakdown:

Total Gross Profit: $13.34 billion
Total Operating Expenses: $6.27 billion

How has Southern revenue changed over the last 9 years?

Over the last 9 years, Southern's total revenue changed from $17.49 billion in 2015 to $26.72 billion in 2024, a change of 52.8%.

How much debt does Southern have?

Southern's total liabilities were at $108.51 billion at the end of 2024, a 4.2% increase from 2023, and a 93.2% increase since 2015.

How much cash does Southern have?

In the past 9 years, Southern's cash and equivalents has ranged from $0.00 in 2016 to $1.98 billion in 2019, and is currently $1.07 billion as of their latest financial filing in 2024.

How has Southern's book value per share changed over the last 9 years?

Over the last 9 years, Southern's book value per share changed from 21.38 in 2015 to 29.22 in 2024, a change of 36.6%.

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This page (NYSE:SO) was last updated on 4/14/2025 by MarketBeat.com Staff

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Southern (SO) Financials

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Southern (SO) Financials

Annual Income Statements for Southern

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Annual Cash Flow Statements for Southern

Quarterly Cash Flow Statements for Southern

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Quarterly Balance Sheets for Southern

Annual Metrics and Ratios for Southern

Quarterly Metrics and Ratios for Southern

Frequently Asked Questions About Southern's Financials

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