Southern Company Capital Reinvestment Ratio
Southern Company capital reinvestment ratio. 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 Southern Company (SO) free cash flow to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of Southern Company (1994–2024)
Capital reinvestment ratio of Southern Company from 1994 to 2024. This chart tracks Southern Company's Capital Reinvestment Ratio across 31 annual periods. See SO financial flexibility index to measure the company's free cash flow as a share of total liabilities.
Southern Company Capital Reinvestment Ratio by Year (1994–2024)
Southern Company capital reinvestment ratio by year from 1994 to 2024. For the full cash flow conversion analysis, see cash efficiency ratio 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 | — |