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 Southern Company investment reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
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. For the full cash flow conversion analysis, see Southern Company cash flow conversion.
Annual Financial Flexibility Index for Southern Company (1994–2024)
Year-by-year free cash flow to debt coverage for Southern Company. Explore how well can Southern Company service its debt to assess how comfortably operating cash covers total debt obligations.
| 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 | — |