Capital Expenditures for Southern Company (SO)
According to Southern Company's latest reported financial statements, the company's current capital expenditures (TTM) is $13.09B USD. 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 .
Currently viewingCapital ExpendituresSwitch metric
Latest period
$13.09B
YoY change
+49.5%
5Y CAGR
+12.5%
Peak year (2025)
$13.39B
Cumulative capital expenditures
$156.39B
CapEx history chart for Southern Company (SO) from 1994 to 2025
CapEx history table for Southern Company (SO) from 1994 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 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 (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
Southern Company (SO) most recent annual capital expenditures stands at $13.39B (2025) – surged 49.5% year-over-year.
Southern Company capital expenditures has recorded the values shown across consecutive periods, with a +12.5% compound annual growth rate over 2020–2025 (5 years).
The dataset's maximum capital expenditures sits at $13.39B (2025); the minimum reading of $1.23B dates to 1996.
Within Utilities, Southern Company (SO) ranks 2nd among 8 peers we track. The peer median for capital expenditures is $6.61B.
Southern Company Capital Expenditures by Year
Southern Company Capital Expenditures 2025: $13.39B
Southern Company capital expenditures in 2025 was $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 capital expenditures in 2024 was $8.96B, edged down 1.5% below 2023.
Southern Company Capital Expenditures 2023: $9.10B
Southern Company capital expenditures in 2023 was $9.10B, grew 14.8% from 2022.
Southern Company Capital Expenditures 2022: $7.92B
Southern Company capital expenditures in 2022 was $7.92B, grew 9.4% from 2021.
Southern Company Capital Expenditures 2021: $7.24B
Southern Company capital expenditures in 2021 was $7.24B.
See more financial history for Southern Company (SO).
Sector peers — CapEx
Companies in the same sector as Southern Company, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Duke Energy Corporation (DUK) | $14.02B | Utilities |
| Dominion Energy, Inc. (D) | $12.64B | Utilities |
| Sempra (SRE) | $10.61B | Utilities |
| NextEra Energy, Inc. (NEE) | $9.27B | Utilities |
| Vistra Corp. (VST) | $3.94B | Utilities |
| Constellation Energy Corporation (CEG) | $2.95B | Utilities |
| GE Vernova Inc. (GEV) | $1.28B | Utilities |
| American Electric Power Company, Inc. (AEP) | $130.00M | Utilities |
Frequently asked questions
What is Southern Company's capital expenditures?
- Latest reported capital expenditures for Southern Company (SO) is $13.09B (period ending December 31, 2025).
How has Southern Company capital expenditures changed year-over-year?
- Southern Company (SO) capital expenditures changed +49.5% year-over-year on the latest annual filing.
What is the long-term growth rate of Southern Company capital expenditures?
- Southern Company (SO) capital expenditures compound annual growth rate is +12.5% over the most recent 5 years available.
When did Southern Company capital expenditures hit its highest annual value?
- Southern Company capital expenditures reached its highest annual value of $13.39B in 2025.
What was Southern Company capital expenditures in 2024?
- Southern Company (SO) capital expenditures in 2024 was $8.96B.
What was Southern Company capital expenditures in 2025?
- Southern Company (SO) capital expenditures in 2025 was $13.39B.
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