Southern Company
The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; distributes natural gas in Illinois, Georgia, Virginia, and Tennessee; operates, constructs, and maintains … Read more
Southern Company (SO) - Net Assets
Latest net assets as of September 2025: $38.27 Billion USD
Based on the latest financial reports, Southern Company (SO) has net assets worth $38.27 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($153.25 Billion) and total liabilities ($114.97 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $38.27 Billion |
| % of Total Assets | 24.98% |
| Annual Growth Rate | 4.5% |
| 5-Year Change | 12.76% |
| 10-Year Change | 65.95% |
| Growth Volatility | 8.0 |
Southern Company - Net Assets Trend (1994–2024)
This chart illustrates how Southern Company's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Southern Company (1994–2024)
The table below shows the annual net assets of Southern Company from 1994 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $36.67 Billion | +4.11% |
| 2023-12-31 | $35.23 Billion | +2.01% |
| 2022-12-31 | $34.53 Billion | +6.03% |
| 2021-12-31 | $32.57 Billion | +0.13% |
| 2020-12-31 | $32.52 Billion | +1.48% |
| 2019-12-31 | $32.05 Billion | +9.27% |
| 2018-12-31 | $29.33 Billion | +13.45% |
| 2017-12-31 | $25.85 Billion | -3.28% |
| 2016-12-31 | $26.73 Billion | +20.95% |
| 2015-12-31 | $22.10 Billion | +3.75% |
| 2014-12-31 | $21.30 Billion | +5.77% |
| 2013-12-31 | $20.14 Billion | +3.92% |
| 2012-12-31 | $19.38 Billion | +3.85% |
| 2011-12-31 | $18.66 Billion | +10.36% |
| 2010-12-31 | $16.91 Billion | +8.50% |
| 2009-12-31 | $15.59 Billion | +11.46% |
| 2008-12-31 | $13.98 Billion | +3.85% |
| 2007-12-31 | $13.46 Billion | +11.14% |
| 2006-12-31 | $12.12 Billion | +7.35% |
| 2005-12-31 | $11.29 Billion | +4.11% |
| 2004-12-31 | $10.84 Billion | +7.63% |
| 2003-12-31 | $10.07 Billion | +11.80% |
| 2002-12-31 | $9.01 Billion | +7.85% |
| 2001-12-31 | $8.35 Billion | -24.47% |
| 2000-12-31 | $11.06 Billion | +15.51% |
| 1999-12-31 | $9.57 Billion | -10.54% |
| 1998-12-31 | $10.70 Billion | +1.19% |
| 1997-12-31 | $10.57 Billion | +0.04% |
| 1996-12-31 | $10.57 Billion | +2.28% |
| 1995-12-31 | $10.34 Billion | +5.62% |
| 1994-12-31 | $9.79 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Southern Company's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 330.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $13.75 Billion | 41.41% |
| Common Stock | $5.45 Billion | 16.40% |
| Other Comprehensive Income | $-78.00 Million | -0.23% |
| Other Components | $14.09 Billion | 42.43% |
| Total Equity | $33.21 Billion | 100.00% |
Southern Company Competitors by Market Cap
The table below lists competitors of Southern Company ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GlaxoSmithKline plc
MX:GSKN
|
$98.64 Billion |
|
Semiconductor Manufacturing Intl Co
SHG:688981
|
$99.08 Billion |
|
Zijin Mining Group Co Ltd Class A
SHG:601899
|
$99.09 Billion |
|
Air Liquide SA
PA:AI
|
$99.38 Billion |
|
CNOOC Limited
SHG:600938
|
$97.85 Billion |
|
China Merchants Bank Co Ltd Class H
PINK:CIHHF
|
$97.81 Billion |
|
China Shenhua Energy Co Ltd
PINK:CSUAY
|
$97.80 Billion |
|
Rio Tinto Group
PINK:RTNTF
|
$97.13 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Southern Company's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 31,444,000,000 to 33,208,000,000, a change of 1,764,000,000 (5.6%).
- Net income of 4,401,000,000 contributed positively to equity growth.
- Dividend payments of 2,954,000,000 reduced retained earnings.
- Share repurchases of 143,000,000 reduced equity.
- New share issuances of 143,000,000 increased equity.
- Other comprehensive income increased equity by 99,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $4.40 Billion | +13.25% |
| Dividends Paid | $2.95 Billion | -8.9% |
| Share Repurchases | $143.00 Million | -0.43% |
| Share Issuances | $143.00 Million | +0.43% |
| Other Comprehensive Income | $99.00 Million | +0.3% |
| Other Changes | $218.00 Million | +0.66% |
| Total Change | $- | 5.61% |
Book Value vs Market Value Analysis
This analysis compares Southern Company's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.26x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 6.72x to 3.26x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $14.62 | $98.27 | x |
| 1995-12-31 | $15.19 | $98.27 | x |
| 1996-12-31 | $15.15 | $98.27 | x |
| 1997-12-31 | $14.80 | $98.27 | x |
| 1998-12-31 | $14.59 | $98.27 | x |
| 1999-12-31 | $13.95 | $98.27 | x |
| 2000-12-31 | $16.91 | $98.27 | x |
| 2001-12-31 | $12.03 | $98.27 | x |
| 2002-12-31 | $12.62 | $98.27 | x |
| 2003-12-31 | $13.76 | $98.27 | x |
| 2004-12-31 | $14.59 | $98.27 | x |
| 2005-12-31 | $15.07 | $98.27 | x |
| 2006-12-31 | $16.20 | $98.27 | x |
| 2007-12-31 | $17.69 | $98.27 | x |
| 2008-12-31 | $18.04 | $98.27 | x |
| 2009-12-31 | $19.60 | $98.27 | x |
| 2010-12-31 | $20.29 | $98.27 | x |
| 2011-12-31 | $21.77 | $98.27 | x |
| 2012-12-31 | $22.33 | $98.27 | x |
| 2013-12-31 | $22.70 | $98.27 | x |
| 2014-12-31 | $23.21 | $98.27 | x |
| 2015-12-31 | $23.39 | $98.27 | x |
| 2016-12-31 | $25.74 | $98.27 | x |
| 2017-12-31 | $24.31 | $98.27 | x |
| 2018-12-31 | $24.20 | $98.27 | x |
| 2019-12-31 | $26.37 | $98.27 | x |
| 2020-12-31 | $26.71 | $98.27 | x |
| 2021-12-31 | $26.55 | $98.27 | x |
| 2022-12-31 | $28.13 | $98.27 | x |
| 2023-12-31 | $28.64 | $98.27 | x |
| 2024-12-31 | $30.11 | $98.27 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Southern Company utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 13.25%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.47%
- • Asset Turnover: 0.18x
- • Equity Multiplier: 4.37x
- Recent ROE (13.25%) is above the historical average (11.67%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 10.39% | 11.92% | 0.31x | 2.84x | $37.20 Million |
| 1995 | 10.92% | 12.02% | 0.30x | 3.02x | $92.60 Million |
| 1996 | 11.05% | 10.88% | 0.34x | 2.96x | $107.40 Million |
| 1997 | 9.59% | 7.71% | 0.36x | 3.48x | $-42.00 Million |
| 1998 | 9.61% | 10.29% | 0.26x | 3.56x | $-39.60 Million |
| 1999 | 13.33% | 13.70% | 0.32x | 3.06x | $318.70 Million |
| 2000 | 11.87% | 13.04% | 0.32x | 2.83x | $207.20 Million |
| 2001 | 15.11% | 12.43% | 0.34x | 3.58x | $426.80 Million |
| 2002 | 14.63% | 12.54% | 0.31x | 3.74x | $417.20 Million |
| 2003 | 14.64% | 13.18% | 0.32x | 3.49x | $466.90 Million |
| 2004 | 14.13% | 13.06% | 0.32x | 3.41x | $448.10 Million |
| 2005 | 14.10% | 11.74% | 0.34x | 3.53x | $462.50 Million |
| 2006 | 12.98% | 10.96% | 0.33x | 3.54x | $361.50 Million |
| 2007 | 12.88% | 11.29% | 0.34x | 3.40x | $387.50 Million |
| 2008 | 12.92% | 10.55% | 0.35x | 3.46x | $408.70 Million |
| 2009 | 10.96% | 10.85% | 0.30x | 3.34x | $149.50 Million |
| 2010 | 12.06% | 11.69% | 0.32x | 3.25x | $349.10 Million |
| 2011 | 12.15% | 12.84% | 0.30x | 3.18x | $402.00 Million |
| 2012 | 12.46% | 14.60% | 0.26x | 3.26x | $477.10 Million |
| 2013 | 8.49% | 10.01% | 0.26x | 3.21x | $-303.90 Million |
| 2014 | 9.63% | 11.00% | 0.26x | 3.33x | $-77.00 Million |
| 2015 | 11.36% | 13.84% | 0.22x | 3.67x | $289.10 Million |
| 2016 | 9.78% | 12.53% | 0.18x | 4.30x | $-55.50 Million |
| 2017 | 3.59% | 3.82% | 0.21x | 4.53x | $-1.57 Billion |
| 2018 | 8.96% | 9.54% | 0.20x | 4.67x | $-259.40 Million |
| 2019 | 17.10% | 22.20% | 0.18x | 4.27x | $1.97 Billion |
| 2020 | 11.09% | 15.38% | 0.17x | 4.35x | $307.70 Million |
| 2021 | 8.55% | 10.42% | 0.18x | 4.53x | $-408.50 Million |
| 2022 | 11.63% | 12.07% | 0.22x | 4.44x | $494.20 Million |
| 2023 | 12.64% | 15.74% | 0.18x | 4.43x | $831.60 Million |
| 2024 | 13.25% | 16.47% | 0.18x | 4.37x | $1.08 Billion |
Industry Comparison
This section compares Southern Company's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $19,749,720,789
- Average return on equity (ROE) among peers: 9.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Southern Company (SO) | $38.27 Billion | 10.39% | 3.00x | $97.89 Billion |
| Aboitiz Equity Ventures Inc (ABOIF) | $21.34 Billion | 14.80% | 0.79x | $1.55 Billion |
| Ameren Corp (AEE) | $4.55 Billion | 11.50% | 2.12x | $30.51 Billion |
| American Electric Power Co Inc (AEP) | $26.99 Billion | 10.99% | 2.82x | $71.56 Billion |
| Avangrid Inc (AGR) | $500.50 Million | 10.07% | 2.97x | $2.56 Billion |
| Central Puerto S.A. (CEPU) | $4.66 Billion | 28.55% | 1.05x | $2.49 Billion |
| CLP Holdings Ltd (CLPHY) | $125.97 Billion | 9.20% | 0.86x | $14.34 Billion |
| CMS Energy Corporation (CMS) | $2.46 Billion | 11.28% | 5.30x | $23.53 Billion |
| CenterPoint Energy Inc (CNP) | $8.35 Billion | -9.26% | 3.01x | $27.76 Billion |
| The Connecticut Light and Power Company (CNTHP) | $2.55 Billion | -9.96% | 3.94x | $506.99K |
| Caribbean Utilities Company Ltd (CUPUF) | $133.72 Million | 17.09% | 1.34x | $224.77 Million |