Southern Company (SO) — Capital Reinvestment Ratio
Latest as of September 2025:
0.90x
Southern Company (SO) has a Capital Reinvestment Ratio of 0.90x as of September 2025, meaning it reinvests 1% of its operating cash flow ($3.77 Billion) in capital expenditures ($3.39 Billion). See SO free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
0.90x
Capex / Operating Cash Flow
Operating Cash Flow
$3.77 Billion
USD
Capital Expenditures
$3.39 Billion
USD
Data as of
Sep 2025
Most recent filing
Southern Company Capital Reinvestment Ratio (1994–2024)
This chart tracks Southern Company's Capital Reinvestment Ratio across 31 annual periods.
Annual Capital Reinvestment Ratio for Southern Company (1994–2024)
Year-by-year Capital Reinvestment Ratio for Southern Company from 1994 to 2024. For live market cap and broader valuation context, see market cap of Southern Company.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2024 | 0.91x | $9.79 Billion | $8.96 Billion | ▼ -24.0% |
| 2023 | 1.20x | $7.55 Billion | $9.10 Billion | ▼ -4.2% |
| 2022 | 1.26x | $6.30 Billion | $7.92 Billion | ▲ +7.1% |
| 2021 | 1.17x | $6.17 Billion | $7.24 Billion | ▲ +5.6% |
| 2020 | 1.11x | $6.70 Billion | $7.44 Billion | ▼ -15.0% |
| 2019 | 1.31x | $5.78 Billion | $7.55 Billion | ▲ +13.4% |
| 2018 | 1.15x | $6.95 Billion | $8.00 Billion | ▼ -0.7% |
| 2017 | 1.16x | $6.39 Billion | $7.42 Billion | ▼ -22.3% |
| 2016 | 1.49x | $4.89 Billion | $7.31 Billion | ▲ +26.8% |
| 2015 | 1.18x | $6.27 Billion | $7.39 Billion | ▲ +14.6% |
| 2014 | 1.03x | $5.82 Billion | $5.98 Billion | ▲ +14.7% |
| 2013 | 0.90x | $6.10 Billion | $5.46 Billion | ▼ -8.7% |
| 2012 | 0.98x | $4.90 Billion | $4.81 Billion | ▲ +28.1% |
| 2011 | 0.77x | $5.90 Billion | $4.53 Billion | ▼ -25.1% |
| 2010 | 1.02x | $3.99 Billion | $4.09 Billion | ▼ -28.5% |
| 2009 | 1.43x | $3.26 Billion | $4.67 Billion | ▲ +22.8% |
| 2008 | 1.17x | $3.40 Billion | $3.96 Billion | ▲ +11.6% |
| 2007 | 1.04x | $3.40 Billion | $3.54 Billion | ▼ -1.7% |
| 2006 | 1.06x | $2.82 Billion | $2.99 Billion | ▲ +13.3% |
| 2005 | 0.94x | $2.53 Billion | $2.37 Billion | ▲ +19.5% |
| 2004 | 0.78x | $2.69 Billion | $2.11 Billion | ▲ +20.0% |
| 2003 | 0.65x | $3.07 Billion | $2.00 Billion | ▼ -32.0% |
| 2002 | 0.96x | $2.83 Billion | $2.72 Billion | ▼ -12.6% |
| 2001 | 1.10x | $2.38 Billion | $2.62 Billion | ▲ +39.0% |
| 2000 | 0.79x | $2.82 Billion | $2.23 Billion | ▼ -16.0% |
| 1999 | 0.94x | $2.72 Billion | $2.56 Billion | ▲ +28.9% |
| 1998 | 0.73x | $2.75 Billion | $2.00 Billion | ▲ +3.0% |
| 1997 | 0.71x | $2.62 Billion | $1.86 Billion | ▲ +38.4% |
| 1996 | 0.51x | $2.40 Billion | $1.23 Billion | ▼ -15.4% |
| 1995 | 0.61x | $2.31 Billion | $1.40 Billion | ▼ -16.8% |
| 1994 | 0.73x | $2.11 Billion | $1.54 Billion | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow