Southern Company (SO) — Financial Flexibility Index
Southern Company (SO) has a Financial Flexibility Index of 0.06x as of September 2025. Free cash flow of $7.16 Billion (operating CF $3.77 Billion minus capex $3.39 Billion) represents 0% of total liabilities ($114.97 Billion). Check SO capital-intensive asset ratio to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Southern Company Financial Flexibility Index (1994–2024)
Historical Financial Flexibility Index trend for Southern Company across 31 annual periods. See SO working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for Southern Company (1994–2024)
Year-by-year free cash flow to debt coverage for Southern Company. For the full company profile including market capitalisation, see market value of Southern Company.
| Year | Flexibility Index | Free Cash Flow (USD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2024 | 0.17x | $18.74 Billion | $9.79 Billion | $108.51 Billion | ▲ +8.0% |
| 2023 | 0.16x | $16.65 Billion | $7.55 Billion | $104.11 Billion | ▲ +12.8% |
| 2022 | 0.14x | $14.22 Billion | $6.30 Billion | $100.36 Billion | ▲ +0.4% |
| 2021 | 0.14x | $13.41 Billion | $6.17 Billion | $94.97 Billion | ▼ -9.7% |
| 2020 | 0.16x | $14.14 Billion | $6.70 Billion | $90.41 Billion | ▲ +1.6% |
| 2019 | 0.15x | $13.34 Billion | $5.78 Billion | $86.65 Billion | ▼ -9.8% |
| 2018 | 0.17x | $14.95 Billion | $6.95 Billion | $87.58 Billion | ▲ +5.2% |
| 2017 | 0.16x | $13.82 Billion | $6.39 Billion | $85.15 Billion | ▲ +10.3% |
| 2016 | 0.15x | $12.20 Billion | $4.89 Billion | $82.97 Billion | ▼ -39.5% |
| 2015 | 0.24x | $13.67 Billion | $6.27 Billion | $56.22 Billion | ▲ +0.9% |
| 2014 | 0.24x | $11.79 Billion | $5.82 Billion | $48.93 Billion | ▼ -7.4% |
| 2013 | 0.26x | $11.56 Billion | $6.10 Billion | $44.41 Billion | ▲ +17.4% |
| 2012 | 0.22x | $9.71 Billion | $4.90 Billion | $43.77 Billion | ▼ -13.6% |
| 2011 | 0.26x | $10.43 Billion | $5.90 Billion | $40.61 Billion | ▲ +21.2% |
| 2010 | 0.21x | $8.08 Billion | $3.99 Billion | $38.12 Billion | ▼ -2.6% |
| 2009 | 0.22x | $7.93 Billion | $3.26 Billion | $36.46 Billion | ▲ +1.6% |
| 2008 | 0.21x | $7.36 Billion | $3.40 Billion | $34.36 Billion | ▼ -0.3% |
| 2007 | 0.21x | $6.94 Billion | $3.40 Billion | $32.32 Billion | ▲ +13.5% |
| 2006 | 0.19x | $5.81 Billion | $2.82 Billion | $30.74 Billion | ▲ +10.4% |
| 2005 | 0.17x | $4.90 Billion | $2.53 Billion | $28.59 Billion | ▼ -6.8% |
| 2004 | 0.18x | $4.80 Billion | $2.69 Billion | $26.12 Billion | ▼ -8.9% |
| 2003 | 0.20x | $5.07 Billion | $3.07 Billion | $25.11 Billion | ▼ -10.1% |
| 2002 | 0.22x | $5.55 Billion | $2.83 Billion | $24.71 Billion | ▼ -3.3% |
| 2001 | 0.23x | $5.00 Billion | $2.38 Billion | $21.55 Billion | ▼ -7.0% |
| 2000 | 0.25x | $5.04 Billion | $2.82 Billion | $20.20 Billion | ▼ -6.8% |
| 1999 | 0.27x | $5.28 Billion | $2.72 Billion | $19.72 Billion | ▲ +43.7% |
| 1998 | 0.19x | $4.75 Billion | $2.75 Billion | $25.49 Billion | ▲ +2.6% |
| 1997 | 0.18x | $4.48 Billion | $2.62 Billion | $24.68 Billion | ▼ -1.6% |
| 1996 | 0.18x | $3.63 Billion | $2.40 Billion | $19.66 Billion | ▲ +0.3% |
| 1995 | 0.18x | $3.72 Billion | $2.31 Billion | $20.19 Billion | ▼ -12.9% |
| 1994 | 0.21x | $3.65 Billion | $2.11 Billion | $17.26 Billion | — |