Southern Company (SO) — Cash Flow Reinvestment Rate
Southern Company (SO) has a Cash Flow Reinvestment Rate of 1.92x as of September 2025, reinvesting $7.25 Billion (capex $3.39 Billion plus investments $-3.87 Billion) from operating cash flow of $3.77 Billion. Check earnings quality score of Southern Company to evaluate the quality of earnings relative to operating cash generation.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
Southern Company Cash Flow Reinvestment Rate (1994–2024)
Historical reinvestment intensity for Southern Company across 31 annual periods. Explore SO strategic capital deployment ratio to see how much of total assets are deployed in long-term investments.
Annual Cash Flow Reinvestment Rate for Southern Company (1994–2024)
Year-by-year capital reinvestment analysis for Southern Company. For live market cap and broader valuation context, see Southern Company (SO) market capitalisation.
| Year | Reinvestment Rate | Total Reinvested (USD) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2024 | 1.88x | $18.36 Billion | $9.79 Billion | $8.96 Billion | ▼ -22.6% |
| 2023 | 2.42x | $18.29 Billion | $7.55 Billion | $9.10 Billion | ▲ +92.3% |
| 2022 | 1.26x | $7.94 Billion | $6.30 Billion | $7.92 Billion | ▲ +7.2% |
| 2021 | 1.17x | $7.25 Billion | $6.17 Billion | $7.24 Billion | ▲ +4.5% |
| 2020 | 1.12x | $7.53 Billion | $6.70 Billion | $7.44 Billion | ▼ -15.7% |
| 2019 | 1.33x | $7.71 Billion | $5.78 Billion | $7.55 Billion | ▲ +14.0% |
| 2018 | 1.17x | $8.12 Billion | $6.95 Billion | $8.00 Billion | ▼ -1.4% |
| 2017 | 1.19x | $7.58 Billion | $6.39 Billion | $7.42 Billion | ▼ -78.8% |
| 2016 | 5.59x | $27.36 Billion | $4.89 Billion | $7.31 Billion | ▲ +374.0% |
| 2015 | 1.18x | $7.40 Billion | $6.27 Billion | $7.39 Billion | ▲ +14.7% |
| 2014 | 1.03x | $5.98 Billion | $5.82 Billion | $5.98 Billion | ▲ +14.7% |
| 2013 | 0.90x | $5.46 Billion | $6.10 Billion | $5.46 Billion | ▼ -8.7% |
| 2012 | 0.98x | $4.81 Billion | $4.90 Billion | $4.81 Billion | ▲ +28.1% |
| 2011 | 0.77x | $4.53 Billion | $5.90 Billion | $4.53 Billion | ▼ -25.1% |
| 2010 | 1.02x | $4.09 Billion | $3.99 Billion | $4.09 Billion | ▼ -28.5% |
| 2009 | 1.43x | $4.67 Billion | $3.26 Billion | $4.67 Billion | ▲ +22.8% |
| 2008 | 1.17x | $3.96 Billion | $3.40 Billion | $3.96 Billion | ▲ +11.6% |
| 2007 | 1.04x | $3.54 Billion | $3.40 Billion | $3.54 Billion | ▼ -1.7% |
| 2006 | 1.06x | $2.99 Billion | $2.82 Billion | $2.99 Billion | ▲ +13.3% |
| 2005 | 0.94x | $2.37 Billion | $2.53 Billion | $2.37 Billion | ▲ +19.5% |
| 2004 | 0.78x | $2.11 Billion | $2.69 Billion | $2.11 Billion | ▲ +20.0% |
| 2003 | 0.65x | $2.00 Billion | $3.07 Billion | $2.00 Billion | ▼ -32.0% |
| 2002 | 0.96x | $2.72 Billion | $2.83 Billion | $2.72 Billion | ▼ -12.6% |
| 2001 | 1.10x | $2.62 Billion | $2.38 Billion | $2.62 Billion | ▲ +39.0% |
| 2000 | 0.79x | $2.23 Billion | $2.82 Billion | $2.23 Billion | ▼ -16.0% |
| 1999 | 0.94x | $2.56 Billion | $2.72 Billion | $2.56 Billion | ▲ +28.9% |
| 1998 | 0.73x | $2.00 Billion | $2.75 Billion | $2.00 Billion | ▲ +3.0% |
| 1997 | 0.71x | $1.86 Billion | $2.62 Billion | $1.86 Billion | ▲ +38.4% |
| 1996 | 0.51x | $1.23 Billion | $2.40 Billion | $1.23 Billion | ▼ -15.4% |
| 1995 | 0.61x | $1.40 Billion | $2.31 Billion | $1.40 Billion | ▼ -16.8% |
| 1994 | 0.73x | $1.54 Billion | $2.11 Billion | $1.54 Billion | — |