The Southern Company (SO) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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SO Revenue Growth
Revenue Breakdown (FY 2025)
SO's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
SO Revenue Analysis (2014–2025)
As of May 8, 2026, The Southern Company (SO) generated trailing twelve-month (TTM) revenue of $30.17 billion, reflecting solid growth of +8.0% year-over-year. The most recent quarter (Q1 2026) recorded $8.40 billion in revenue, up 20.3% sequentially.
Looking at the longer-term picture, SO's 5-year compound annual growth rate (CAGR) stands at +7.7%, indicating steady revenue expansion. The company achieved its highest annual revenue of $29.55 billion in 2025, representing a new all-time high.
Revenue diversification analysis shows SO's business is primarily driven by Southern Company Gas (50%), Gas Distribution Operations (44%), and Gas Marketing Services (6%). With over half of revenue concentrated in Southern Company Gas, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including DUK (+7.6% YoY), D (+17.1% YoY), and AEP (+8.3% YoY), SO has underperformed the peer group in terms of revenue growth. Compare SO vs DUK →
SO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SOCurrent | $30.2B | +8.0% | +7.7% | 24.6% | |
 DUK | $32.2B | +7.6% | +6.6% | 26.6% | |
 D | $16.5B | +17.1% | +3.1% | 26.7% | |
 AEP | $21.8B | +8.3% | +7.9% | 24.3% | |
 EXC | $24.3B | +4.6% | -6.0% | 21.2% | |
 XEL | $14.7B | +7.9% | +4.9% | 19.6% |
SO Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $29.55B | +10.6% | $8.81B | 29.8% | $7.27B | 24.6% |
| 2024 | $26.72B | +5.8% | $13.34B | 49.9% | $7.07B | 26.4% |
| 2023 | $25.25B | -13.8% | $11.71B | 46.4% | $5.83B | 23.1% |
| 2022 | $29.28B | +26.7% | $10.63B | 36.3% | $5.37B | 18.3% |
| 2021 | $23.11B | +13.4% | $10.25B | 44.3% | $3.70B | 16.0% |
| 2020 | $20.38B | -4.9% | $9.90B | 48.6% | $4.88B | 24.0% |
| 2019 | $21.42B | -8.8% | $9.60B | 44.8% | $7.74B | 36.1% |
| 2018 | $23.50B | +2.0% | $9.62B | 40.9% | $4.19B | 17.8% |
| 2017 | $23.03B | +15.8% | $9.91B | 43.1% | $2.33B | 10.1% |
| 2016 | $19.90B | +13.8% | $8.53B | 42.9% | $4.49B | 22.5% |
Full SO Stock Analysis
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Start ComparisonSO — Frequently Asked Questions
Quick answers to the most common questions about buying SO stock.
Is SO's revenue growth accelerating or slowing?
SO maintains +8.0% revenue growth, in line with its 5-year CAGR of +7.7%. TTM revenue stands at $30.2B. Growth rate remains consistent with historical average.
What is SO's long-term revenue growth rate?
The Southern Company's 5-year revenue CAGR of +7.7% reflects the sustained expansion pattern. Current YoY growth of +8.0% is near this long-term average.
How is SO's revenue distributed by segment?
SO reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.