How does Southern Company (SO) make money?

Southern Company (SO) generates revenue primarily from Electric Utilities, which accounted for 50.9% of total revenue in TTM through Q1 2026. The company reported $30.17B in revenue and converted 14.5% of it into net profit, equivalent to roughly $4.36B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Southern Company (SO)?

Southern Company (SO) reported a gross profit margin of 43.1% in TTM through Q1 2026, equivalent to $13.01B in gross profit on $30.17B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Southern Company (SO)?

Southern Company (SO) reported an operating profit margin of 24.1% in TTM through Q1 2026, equivalent to $7.29B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Southern Company (SO)?

Southern Company (SO) reported a net profit margin of 14.5% in TTM through Q1 2026, equivalent to $4.36B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Southern Company (SO) profitable?

Yes. Southern Company (SO) reported $4.36B in net income for TTM through Q1 2026, with a net profit margin of 14.5%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Southern Company (SO) spend on capital expenditures?

Southern Company (SO) spent $13.60B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 45.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Southern Company (SO) generate?

Southern Company (SO) generated −$3.82B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of -12.6%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Southern Company (SO)?

Southern Company (SO) had an effective tax rate of 15.4% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Southern Company (SO)?

Southern Company (SO) reports revenue across 3 reportable product segments, led by Electric Utilities at 50.9% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Southern Company Makes Money: 2026 Visual Revenue Map

Southern Company (SO) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported March 31, 2026).

Southern Company discloses geographic revenue only in annual filings. to view the full breakdown.

Southern Company (SO) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Southern Company (SO) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Electric Utilities	$15.37B	50.9%
Southern Company Gas	$13.36B	44.3%
Southern Power	$1.45B	4.8%
Total	$30.17B	100%

Electric Utilities$15.37B
Southern Company Gas$13.36B
Southern Power$1.45B
Total$30.17B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Southern Company (SO) reports revenue across 3 operating segments; the largest segment was Electric Utilities at 50.9%, followed by Southern Company Gas (44.3%) and Southern Power (4.8%).

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