Latest period
$13.60B
YoY change
+49.5%
5Y CAGR
+12.5%
Peak year (2025)
$13.39B
Cumulative CapEx
$159.33B
CapEx history chart for Southern Company (SO) from 1994 to 2025
Latest: $13.39B
CapEx growth chart for Southern Company (SO) from 1994 to 2025
Latest: +49.5%
CapEx history table for Southern Company (SO) from 1994 to 2025
| 2025 | $13.39B | +49.5% | +$4.44B | ||
| 2024 | $8.96B | -1.5% | −$140.00M | ||
| 2023 | $9.10B | +14.8% | +$1.17B | ||
| 2022 | $7.92B | +9.4% | +$683.00M | ||
| 2021 | $7.24B | -2.7% | −$201.00M | ||
| 2020 | $7.44B | -1.5% | −$114.00M | ||
| 2019 | $7.55B | -5.6% | −$446.00M | ||
| 2018 | $8.00B | +7.8% | +$578.00M | ||
| 2017 | $7.42B | +1.5% | +$113.00M | ||
| 2016 | $7.31B | -1.1% | −$83.00M | ||
| 2015 | $7.39B | +23.7% | +$1.42B | ||
| 2014 | $5.98B | +9.4% | +$514.00M | ||
| 2013 | $5.46B | +13.6% | +$654.00M | ||
| 2012 | $4.81B | +6.3% | +$284.00M | ||
| 2011 | $4.53B | +10.7% | +$439.00M | ||
| 2010 | $4.09B | -12.5% | −$584.00M | ||
| 2009 | $4.67B | +17.9% | +$709.00M | ||
| 2008 | $3.96B | +11.7% | +$416.00M | ||
| 2007 | $3.54B | +18.4% | +$551.00M | ||
| 2006 | $2.99B | +26.3% | +$624.00M | ||
| 2005 | $2.37B | +12.3% | +$260.00M | ||
| 2004 | $2.11B | +5.4% | +$108.00M | ||
| 2003 | $2.00B | -26.3% | −$715.00M | ||
| 2002 | $2.72B | +3.8% | +$100.00M | ||
| 2001 | $2.62B | +17.6% | +$392.00M | ||
| 2000 | $2.23B | -13.1% | −$335.00M | ||
| 1999 | $2.56B | +27.7% | +$555.00M | ||
| 1998 | $2.00B | +7.9% | +$146.00M | ||
| 1997 | $1.86B | +51.3% | +$630.00M | ||
| 1996 | $1.23B | -12.3% | −$172.00M | ||
| 1995 | $1.40B | -8.8% | −$135.00M | ||
| 1994 | $1.54B | — | — |
- 2025$13.39B+49.5%
- 2024$8.96B-1.5%
- 2023$9.10B+14.8%
- 2022$7.92B+9.4%
- 2021$7.24B-2.7%
- 2020$7.44B-1.5%
- 2019$7.55B-5.6%
- 2018$8.00B+7.8%
- 2017$7.42B+1.5%
- 2016$7.31B-1.1%
- 2015$7.39B+23.7%
- 2014$5.98B+9.4%
- 2013$5.46B+13.6%
- 2012$4.81B+6.3%
- 2011$4.53B+10.7%
- 2010$4.09B-12.5%
- 2009$4.67B+17.9%
- 2008$3.96B+11.7%
- 2007$3.54B+18.4%
- 2006$2.99B+26.3%
- 2005$2.37B+12.3%
- 2004$2.11B+5.4%
- 2003$2.00B-26.3%
- 2002$2.72B+3.8%
- 2001$2.62B+17.6%
- 2000$2.23B-13.1%
- 1999$2.56B+27.7%
- 1998$2.00B+7.9%
- 1997$1.86B+51.3%
- 1996$1.23B-12.3%
- 1995$1.40B-8.8%
- 1994$1.54B—
CapEx values are taken from Southern Company's reported cash flow statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About CapEx at Southern Company (SO)
According to Southern Company's latest reported financial statements, the company's current CapEx (TTM) is $13.60B. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Southern Company (SO) most recent annual CapEx stands at $13.39B (2025) – surged 49.5% year-over-year.
Southern Company CapEx has grown on net over the period, with a +12.5% compound annual growth rate over 2020–2025 (5 years).
The record annual CapEx stands at $13.39B, reached in 2025; the historical low of $1.23B was recorded in 1996.
Southern Company Capital Expenditures by Year
Southern Company Capital Expenditures 2025: $13.39B
In 2025, Southern Company reported CapEx of $13.39B, surged 49.5% from 2024. This figure represents the highest annual value in the available history.
Southern Company Capital Expenditures 2024: $8.96B
Southern Company CapEx in 2024 was $8.96B, edged down 1.5% below 2023.
Southern Company Capital Expenditures 2023: $9.10B
2023's CapEx for Southern Company came in at $9.10B, grew 14.8% from 2022.
Southern Company Capital Expenditures 2022: $7.92B
Southern Company posted CapEx of $7.92B in 2022, grew 9.4% from 2021.
Southern Company Capital Expenditures 2021: $7.24B
Southern Company CapEx in 2021 was $7.24B.
See more financial history for Southern Company (SO).
Sector peers by CapEx
Utilities peers of Southern Company (SO), ranked by their latest CapEx
| $14.02B | |
| $12.64B | |
| $10.61B | |
| $9.27B | |
| $7.94B | |
| $2.95B | |
| $1.28B | |
| $130.00M |
- $14.02B
- $12.64B
- $10.61B
- $9.27B
- $7.94B
- $1.28B
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