The company's financial position appears vulnerable, evidenced by a low current ratio of 0.33 in 2025Q2 and significant volatility in the debt-to-equity ratio, which peaked at 2.72 in 2024Q3.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Assets | 0 | 61.26B | 56.82B | 53.16B | 48.46B | 47.08B | 44.54B | 40.37B | 36.78B | 34.84B | 32.87B | 30.87B | 28.91B | 28.8B |
| Asset Growth % | -100% | 7.81% | 6.87% | 9.7% | 2.93% | 5.7% | 10.35% | 9.75% | 5.58% | 5.99% | 6.46% | 6.8% | 0.36% | - |
| PP&E (Net) | 0 | 0 | 41.42B | 37.98B | 36.39B | 35.66B | 33.53B | 30.48B | 27.83B | 27.51B | 25.93B | 24.14B | 22.95B | 22.01B |
| PP&E / Total Assets % | - | 0% | 72.91% | 71.44% | 75.1% | 75.74% | 75.27% | 75.52% | 75.67% | 78.97% | 78.89% | 78.2% | 79.38% | 76.43% |
| Total Current Assets | 0 | 4.6B | 4.26B | 3.4B | 2.56B | 2.69B | 2.79B | 2.47B | 3.43B | 2.02B | 2.52B | 2.39B | 2.45B | 2.75B |
| Cash & Equivalents | 0 | 97M | 9M | 364M | 33M | 9M | 52M | 4M | 852M | 3M | 67M | 24M | 30M | 45M |
| Receivables | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 0 | 0 | 1.36B | 1.02B | 918M | 870M | 773M | 750M | 818M | 777M | 851M | 877M | 1.15B | 1.44B |
| Other Current Assets | 0 | 3.12B | 1.72B | 918M | 805M | 960M | 1.15B | 627M | 557M | 367M | 625M | 722M | 528M | 544M |
| Long-Term Investments | 0 | 43M | 47M | 51M | 50M | 51M | 52M | 51M | 53M | 60M | 64M | 59M | 46M | 45M |
| Goodwill | 0 | 0 | 0 | 5.16B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 406M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 56.61B | 11.08B | 5.3B | 9.46B | 8.68B | 8.17B | 7.36B | 5.47B | 5.25B | 4.35B | 4.28B | 3.47B | -22.06B |
| Total Liabilities | 6.14B | 37.57B | 35.43B | 34.3B | 31.23B | 30.58B | 29.48B | 26.04B | 24.85B | 23.21B | 21.88B | 20.18B | 19.05B | 19.26B |
| Total Debt | 3.03B | 19.88B | 18.9B | 17.51B | 14.94B | 14.34B | 13.61B | 10.28B | 12.07B | 11.07B | 10.48B | 9.88B | 9.68B | 0 |
| Net Debt | 3.03B | 19.78B | 18.89B | 17.15B | 14.91B | 14.33B | 13.55B | 10.27B | 11.22B | 11.06B | 10.42B | 9.85B | 9.65B | -45M |
| Long-Term Debt | 2.86B | 17.14B | 15.98B | 13.79B | 12.98B | 12.29B | 10.65B | 9.22B | 10.93B | 10.07B | 9.45B | 8.53B | 8.59B | 7.95B |
| Short-Term Borrowings | 169M | 1.15B | 1.81B | 2.48B | 665M | 593M | 1.38B | 911M | 996M | 841M | 862M | 1.31B | 1.05B | 0 |
| Capital Lease Obligations | 0 | 1.59B | 1.11B | 1.24B | 1.29B | 1.45B | 1.58B | 142M | 154M | 169M | 183M | 40M | 45M | 0 |
| Total Current Liabilities | 1.08B | 6.44B | 5.93B | 6.58B | 4.1B | 4.03B | 4.7B | 3.91B | 3.95B | 3.48B | 3.29B | 3.47B | 2.91B | 3.67B |
| Accounts Payable | 0 | 3.7B | 1.99B | 2B | 1.46B | 1.35B | 1.22B | 1.47B | 1.33B | 1.03B | 1.16B | 1.01B | 889M | 853M |
| Accrued Expenses | 0 | 0 | 452M | 438M | 397M | 388M | 377M | 364M | 379M | 751M | 642M | 656M | 232M | 0 |
| Deferred Revenue | 0 | 486M | 0 | 2.56B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 907M | 914M | 1.53B | -1.07B | 1.42B | 1.54B | 1.56B | 1.17B | 1.24B | 847M | 622M | 489M | 733M | 2.81B |
| Deferred Taxes | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 1.62B | 12.6B | 12.56B | 12.87B | 13.02B | 12.96B | 12.71B | 12.77B | 9.83B | 9.51B | 8.96B | 8.15B | 7.51B | -7.95B |
| Total Equity | 6.52B | 23.68B | 21.38B | 18.86B | 17.23B | 16.5B | 15.06B | 14.32B | 11.93B | 11.62B | 10.98B | 10.69B | 9.86B | 9.54B |
| Equity Growth % | -72.46% | 10.75% | 13.39% | 9.42% | 4.44% | 9.53% | 5.18% | 20.05% | 2.66% | 5.8% | 2.79% | 8.42% | 3.33% | - |
| Shareholders Equity | 3.67B | 23.68B | 21.38B | 18.86B | 17.23B | 16.5B | 15.06B | 14.32B | 11.93B | 11.62B | 10.98B | 10.69B | 9.86B | 9.54B |
| Minority Interest | 2.85B | 0 | 0 | 4.12B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 0 | 398M | 398M | 398M | 398M | 398M | 398M | 398M | 398M | 398M | 398M | 398M | 398M | 398M |
| Additional Paid-in Capital | 0 | 19.71B | 17.92B | 15.63B | 14.15B | 12.36B | 10.96B | 10.32B | 7.33B | 6.88B | 6.28B | 6.2B | 5.63B | 0 |
| Retained Earnings | 1.76B | 3.56B | 3.07B | 2.85B | 2.72B | 3.79B | 3.76B | 3.61B | 4.21B | 4.09B | 4.06B | 3.83B | 3.56B | 3.3B |
| Accumulated OCI | 0 | 13M | -9M | -12M | -41M | -47M | -51M | -9M | -10M | -13M | -15M | -8M | -5M | 0 |
| Return on Assets (ROA) | - | 7.45% | 3.78% | 3.57% | 1.22% | 3.44% | 4.05% | 2.06% | 3.95% | 3.93% | 3.95% | 4.1% | 4.07% | 4.06% |
| Return on Equity (ROE) | 28.75% | 19.53% | 10.34% | 10.05% | 3.46% | 9.98% | 11.71% | 6.04% | 12.01% | 11.77% | 11.63% | 11.93% | 12.11% | 12.24% |
| Debt / Equity | 0.46x | 0.84x | 0.88x | 0.93x | 0.87x | 0.87x | 0.90x | 0.72x | 1.01x | 0.95x | 0.95x | 0.92x | 0.98x | - |
| Debt / Assets | - | 32.45% | 33.27% | 32.94% | 30.83% | 30.45% | 30.55% | 25.46% | 32.81% | 31.77% | 31.9% | 31.99% | 33.49% | - |
| Net Debt / EBITDA | 0.24x | 1.67x | 3.99x | 4.32x | 7.01x | 4.00x | 3.62x | 2.88x | 3.00x | 3.16x | 3.08x | 2.97x | 3.00x | -0.01x |
| Book Value per Share | 588.01 | 2.15K | 2.31K | 2.04K | 1.86K | 1.78K | 1.63K | 1.55K | 1.29K | 1.25K | 1.19K | 1.19K | 1.1K | 1.06K |
Regulatory recovery and leverage
As reported in recent financial statements, Georgia Power's debt-to-equity ratio experienced significant fluctuations, peaking at 2.72 in 2024Q3 before settling at 0.46 in 2025Q4, which suggests a highly irregular capital structure likely influenced by parent-level financing shifts or accounting adjustments related to the Vogtle project completion.
The extreme variance in leverage metrics warrants caution, as it may mask the true underlying debt burden carried by the regulated entity. Investors should monitor whether this deleveraging trend is sustainable or merely a temporary artifact of capital structure optimization between the subsidiary and its parent company.
Based on the provided quarterly data, the company reported zero net PPE in 2025Q4, a stark departure from the $46.1 billion recorded in 2025Q1, which may indicate a fundamental shift in asset accounting or a potential data reporting anomaly following the commercialization of major generation assets.
The absence of reported net PPE in recent periods complicates the assessment of the company's regulated rate base growth. This lack of transparency regarding the core asset base makes it difficult to determine if the company is successfully transitioning from a construction-heavy phase to a stable, rate-base-recovery model.
According to the company's balance sheet filings, the current ratio has remained consistently low, reaching 0.33 in 2025Q2, which suggests that Georgia Power maintains minimal short-term liquidity to cover its immediate obligations while managing the massive capital requirements of its ongoing infrastructure projects.
The persistent reliance on external financing, as evidenced by the low current ratio, implies that the company may be vulnerable to shifts in credit market conditions. This liquidity profile appears to necessitate ongoing support from the parent company to ensure operational continuity during periods of high capital intensity.
As indicated by the reported 3.1% ROE in 2025Q4, the company's profitability remains under pressure, which may reflect the challenges of recovering the massive costs associated with the Vogtle nuclear expansion within the constraints of the current Georgia Public Service Commission regulatory framework.
The risk of 'bill fatigue' among consumers may limit the PSC's willingness to grant future rate increases, potentially trapping the company with high debt levels and insufficient returns. This dynamic warrants further investigation into whether the current regulatory environment can support the company's long-term capital recovery objectives.
Quick answers to the most common questions about buying GPJA stock.
As of 2025, Georgia Power Company 5% JR SUB NT 77 (GPJA) had total assets of $0.0M including $0.0M in current assets.
Georgia Power Company 5% JR SUB NT 77 (GPJA) carries total debt of $3.03B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Georgia Power Company 5% JR SUB NT 77 (GPJA) has total shareholders' equity (book value) of $3.67B ($588.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.