Question 1

What is Southern Company's P/B ratio?

Accepted Answer

Southern Company (SO) P/B ratio is 2.9× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Southern Company?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Southern Company specifically, the relevant sector benchmark is the current sector median of 2.1×.

Question 5

Is Southern Company's P/B ratio high or low?

Accepted Answer

Southern Company's P/B ratio of 2.9× is above its own 5-year average of 2.6× and above the sector median of 2.1×. That places the current reading at the 75th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Southern Company's historical P/B ratio range?

Accepted Answer

In the available daily series, Southern Company (SO) P/B ratio has ranged from a low of 1.7× in 2010 to a high of 3.2× in 2025. The 5-year average is 2.6× and the 5-year median is 2.6×.

Question 7

What was Southern Company's P/B ratio in 2025?

Accepted Answer

Southern Company (SO) P/B ratio at the end of 2025 was 2.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Southern Company's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$96.2B	$36B	2.7×	-0.1×	Dec 31, 2025
2024	$90.4B	$33.2B	2.7×	+0.3×	Dec 31, 2024
2023	$76.6B	$31.4B	2.4×	-0.1×	Dec 31, 2023
2022	$77.8B	$30.4B	2.6×	-0.0×	Dec 31, 2022
2021	$72.8B	$28.2B	2.6×	+0.3×	Dec 31, 2021
2020	$65B	$28.3B	2.3×	-0.1×	Dec 31, 2020
2019	$67.1B	$27.8B	2.4×	+0.6×	Dec 31, 2019
2018	$45.4B	$25B	1.8×	-0.2×	Dec 31, 2018
2017	$48.5B	$24.5B	2.0×	+0.1×	Dec 31, 2017
2016	$48.7B	$25.5B	1.9×	-0.1×	Dec 31, 2016
2015	$42.7B	$21.3B	2.0×	-0.1×	Dec 31, 2015
2014	$44.6B	$21.1B	2.1×	+0.3×	Dec 31, 2014
2013	$36.5B	$20.1B	1.8×	-0.1×	Dec 31, 2013
2012	$37.2B	$19.4B	1.9×	-0.2×	Dec 31, 2012
2011	$39.8B	$18.7B	2.1×	+0.2×	Dec 31, 2011
2010	$32.1B	$16.9B	1.9×	+0.2×	Dec 31, 2010
2009	$27B	$15.6B	1.7×	-0.3×	Dec 31, 2009
2008	$28.6B	$14B	2.0×	-0.1×	Dec 31, 2008
2007	$29.5B	$13.5B	2.2×	-0.1×	Dec 31, 2007
2006	$27.5B	$12.1B	2.3×	-0.0×	Dec 31, 2006
2005	$25.7B	$11.3B	2.3×	-0.0×	Dec 31, 2005
2004	$24.9B	$10.8B	2.3×	+0.1×	Dec 31, 2004
2003	$22.1B	$10.1B	2.2×	-0.1×	Dec 31, 2003
2002	$20.3B	$9.01B	2.2×	—	Dec 31, 2002


MGE Energy (MGEE)	2.1×
New Jersey Resources (NJR)	2.1×
Xcel Energy (XEL)	2.1×
Atmos Energy (ATO)	2.1×
Sempra (SRE)	2.0×
Middlesex Water (MSEX)	1.9×
Duke Energy (DUK)	1.9×
Dominion Energy (D)	1.9×
Evergy (EVRG)	1.9×
Pinnacle West Capital (PNW)	1.7×
Exelon (EXC)	1.7×
Essential Utilities (WTRG)	1.7×
Edison International (EIX)	1.6×
Consolidated Edison (ED)	1.6×
Eversource Energy (ES)	1.6×
California Water Service Group (CWT)	1.5×
MDU Resources Group (MDU)	1.5×
UGI (UGI)	1.4×
Northwest Natural Holding (NWN)	1.4×
Black Hills (BKH)	1.3×
Artesian Resources (ARTNA)	1.3×
H2O America (HTO)	1.2×
Avista (AVA)	1.2×
PG&E (PCG)	1.2×
Algonquin Power & Utilities (AQN)	1.0×

P/B Ratio for Southern Company (SO) 2002-2026

P/B Ratio daily chart for Southern Company (SO)

Historical P/B Ratio for Southern Company (SO) from 2002 to 2025

About P/B Ratio at Southern Company (SO)

Southern Company P/B Ratio by Year

Southern Company P/B Ratio 2025: 2.7×

Southern Company P/B Ratio 2024: 2.7×

Southern Company P/B Ratio 2023: 2.4×

Southern Company P/B Ratio 2022: 2.6×

Southern Company P/B Ratio 2021: 2.6×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Southern Company (SO) Key Financials