Southern Company (SO) — 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 balance sheet quality to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Southern Company Capital Reinvestment Ratio (1994–2024)
This chart tracks Southern Company's Capital Reinvestment Ratio across 31 annual periods. Check Southern Company total reinvestment intensity to assess the company's total reinvestment commitment from operating cash flow.
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 SO stock market capitalisation.
| 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 | — |