Financials Southern Company

Equities

SO

US8425871071

Electric Utilities

Real-time Estimate Cboe BZX 11:37:22 2024-04-12 am EDT 5-day change 1st Jan Change
69.16 USD -0.60% Intraday chart for Southern Company -1.02% -1.32%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 66,804 64,885 72,681 77,671 76,474 75,913 - -
Enterprise Value (EV) 1 111,671 113,009 124,600 77,671 137,726 140,884 143,416 143,526
P/E ratio 14.1 x 20.8 x 30.3 x 21.8 x 19.3 x 17.4 x 16.3 x 15.4 x
Yield 3.86% 4.13% 3.82% - - 4.12% 4.26% 4.41%
Capitalization / Revenue 3.12 x 3.18 x 3.14 x 2.65 x 3.03 x 2.79 x 2.68 x 2.61 x
EV / Revenue 5.21 x 5.55 x 5.39 x 2.65 x 5.45 x 5.17 x 5.06 x 4.93 x
EV / EBITDA 13.7 x 12.7 x 13.7 x 8.37 x 13.3 x 12.3 x 11.6 x 11 x
EV / FCF -62.9 x -152 x -116 x - -89.3 x 163 x 131 x 135 x
FCF Yield -1.59% -0.66% -0.86% - -1.12% 0.61% 0.76% 0.74%
Price to Book 2.44 x 2.32 x 2.61 x - 2.43 x 2.32 x 2.21 x 2.09 x
Nbr of stocks (in thousands) 1,048,734 1,056,242 1,059,804 1,087,673 1,090,619 1,091,015 - -
Reference price 2 63.70 61.43 68.58 71.41 70.12 69.58 69.58 69.58
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 21,419 20,375 23,113 29,279 25,253 27,225 28,337 29,110
EBITDA 1 8,178 8,889 9,123 9,284 10,351 11,483 12,416 13,051
EBIT 1 5,140 5,371 5,558 5,621 5,826 6,732 7,556 8,040
Operating Margin 24% 26.36% 24.05% 19.2% 23.07% 24.73% 26.66% 27.62%
Earnings before Tax (EBT) 1 6,542 3,496 2,042 4,223 4,345 5,202 5,669 6,109
Net income 1 4,739 3,119 2,393 3,524 3,976 4,390 4,756 5,069
Net margin 22.13% 15.31% 10.35% 12.04% 15.74% 16.13% 16.79% 17.41%
EPS 2 4.530 2.950 2.260 3.280 3.640 3.991 4.277 4.524
Free Cash Flow 1 -1,774 -745 -1,071 - -1,542 864.5 1,094 1,066
FCF margin -8.28% -3.66% -4.63% - -6.11% 3.18% 3.86% 3.66%
FCF Conversion (EBITDA) - - - - - 7.53% 8.82% 8.17%
FCF Conversion (Net income) - - - - - 19.69% 23.01% 21.03%
Dividend per Share 2 2.460 2.540 2.620 - - 2.865 2.963 3.071
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 6,238 5,767 6,648 7,206 8,378 7,047 6,480 5,748 6,980 6,045 6,670 5,966 7,417 6,227 -
EBITDA 1 2,465 1,434 2,277 2,568 3,115 1,324 2,329 2,402 3,253 2,367 2,852 2,850 3,512 2,713 -
EBIT 1 1,569 527 1,384 1,655 2,193 389 1,218 1,290 2,110 1,207 1,599 1,528 2,320 1,450 -
Operating Margin 25.15% 9.14% 20.82% 22.97% 26.18% 5.52% 18.8% 22.44% 30.23% 19.97% 23.97% 25.62% 31.28% 23.28% -
Earnings before Tax (EBT) 1 1,482 - 1,164 1,393 1,901 -234 896 921 1,729 800 1,188 1,190 1,899 973.6 -
Net income 1 1,101 -215 1,032 1,107 1,472 -87 862 838 1,422 855 990.3 998.8 1,618 833.9 -
Net margin 17.65% -3.73% 15.52% 15.36% 17.57% -1.23% 13.3% 14.58% 20.37% 14.14% 14.85% 16.74% 21.82% 13.39% -
EPS 2 1.040 -0.2000 0.9700 1.040 1.360 -0.0800 0.7900 0.7700 1.300 0.7800 0.9044 0.8999 1.484 0.7183 -
Dividend per Share 2 0.6600 0.6600 0.6600 0.6800 0.6800 - 0.6800 - - - 0.7150 0.7270 0.7135 0.7135 0.7350
Announcement Date 11/4/21 2/17/22 4/28/22 7/28/22 10/27/22 2/16/23 4/27/23 8/3/23 11/2/23 2/15/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 44,867 48,124 51,919 - 61,252 64,971 67,503 67,613
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.486 x 5.414 x 5.691 x - 5.917 x 5.658 x 5.437 x 5.181 x
Free Cash Flow 1 -1,774 -745 -1,071 - -1,542 865 1,095 1,066
ROE (net income / shareholders' equity) 12.4% 12.4% 13% - 12.9% 13.3% 13.8% 13.9%
ROA (Net income/ Total Assets) 2.76% 2.85% 2.89% - 2.9% 3.08% 3.21% 3.31%
Assets 1 171,784 109,607 82,831 - 137,103 142,331 148,127 152,960
Book Value Per Share 2 26.10 26.50 26.30 - 28.80 30.00 31.50 33.30
Cash Flow per Share 2 5.480 6.290 5.780 - 6.880 8.870 - -
Capex 1 7,555 7,441 7,240 - 9,095 9,721 9,309 8,902
Capex / Sales 35.27% 36.52% 31.32% - 36.02% 35.71% 32.85% 30.58%
Announcement Date 2/20/20 2/18/21 2/17/22 2/16/23 2/15/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
21
Last Close Price
69.58 USD
Average target price
74.53 USD
Spread / Average Target
+7.11%
Consensus
  1. Stock Market
  2. Equities
  3. SO Stock
  4. Financials Southern Company