olivLaw · US equity research
SO SO
Electric Services · SIC 4911 · Vertical: Electric Services (SIC 4911)
Southern Company (SO) is a holding company in the electric services sector that owns three vertically integrated traditional electric utilities, Southern Power, and Southern Company Gas. In the first half of 2026, operating revenues were 15.4 billion USD, up 4.2%. Net income attributable to Southern Company was 2.5 billion USD in the first six months.
At the close of 03 Nov 2026, SO (SO) stock was 93.75 USD (−0.91% on the day), with market capitalisation 105.7 bn USD, P/E 24.0 on diluted EPS of 3.90 USD over the last 12 months, dividend yield 3.16%, beta -0.06, 52-week range 82.35–99.11 USD. Latest reported quarter (Q1 2026): revenue of 8.4 bn USD (+8.0% YoY), net income of 1.4 bn USD (+1.6% YoY), diluted EPS 1.20 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 64.3
- strong (55–70)
- Bollinger (20, 2)
- 84.98 – 96.17
- in the upper half of the band · %B 0.78 · band width 12.4%
- SMA 50 / 200
- 87.97 / 92.49
- mixed trend
- MACD (12, 26, 9)
- 1.88 / 1.53
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +12.0% | −2.0% | +14.0 pp | — |
| 3 months | +0.5% | −2.2% | +2.7 pp | — |
| 6 months | −2.2% | +4.3% | −6.5 pp | — |
| Year to date | +7.5% | +10.6% | −3.1 pp | — |
| 1 year | +0.6% | +10.5% | −9.8 pp | −1.1% |
| 3 years | +33.2% | +73.7% | −40.5 pp | +50.4% |
| 5 years | +50.0% | +61.7% | −11.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2026 · 31 Mar 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6.5 bn | 7.3 bn | 6.3 bn | 7.8 bn | 7.0 bn | 7.8 bn | 7.0 bn | 8.4 bn |
| Operating income | 1.9 bn | 2.4 bn | 1.1 bn | 2.0 bn | 1.8 bn | 2.6 bn | 917.0 m | 2.0 bn |
| Depreciation & amortisation | 1.3 bn ≈ | 1.3 bn ≈ | 1.4 bn | 1.4 bn | 1.4 bn ≈ | 1.6 bn ≈ | 1.6 bn | 1.6 bn |
| Interest expense | 694.0 m | 692.0 m | 693.0 m | 714.0 m | 874.0 m | 755.0 m | 895.0 m | 778.0 m |
| Pre-tax income | 1.5 bn | 1.9 bn | 545.0 m | 1.6 bn | 1.1 bn | 2.1 bn | 196.0 m | 1.6 bn |
| Income tax | 290.0 m | 377.0 m | 79.0 m | 280.0 m | 289.0 m | 404.0 m | -145.0 m | 228.0 m |
| Net income | 1.2 bn | 1.5 bn | 534.0 m | 1.3 bn | 880.0 m | 1.7 bn | 416.0 m | 1.4 bn |
| Diluted EPS | 1.09 | 1.39 | 0.48 ≈ | 1.21 | 0.79 | 1.54 | 0.37 ≈ | 1.20 |
| Operating cash flow | 2.7 bn ≈ | 3.6 bn ≈ | 2.2 bn | 1.3 bn | 2.2 bn ≈ | 3.8 bn ≈ | 2.6 bn | 1.2 bn |
| Capex | 2.1 bn ≈ | 2.3 bn ≈ | 2.7 bn | 2.4 bn | 2.8 bn ≈ | 3.2 bn ≈ | 4.3 bn | 2.9 bn |
| Dividends paid | 754.0 m ≈ | 733.0 m ≈ | 734.0 m | 736.0 m | 758.0 m ≈ | 760.0 m ≈ | 761.0 m | 776.0 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 76 percentile of its own 42-quarter history (min 13.0, median 20.7, max 89.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23.5 bn | 21.4 bn | 20.4 bn | 23.1 bn | 29.3 bn | 25.3 bn | 26.7 bn | 29.6 bn |
| Revenue YoY | +2.0% | −8.8% | −4.9% | +13.4% | +26.7% | −13.8% | +5.8% | +10.6% |
| Net income | 2.3 bn | 4.7 bn | 3.1 bn | 2.3 bn | 3.4 bn | 4.0 bn | 4.4 bn | 4.3 bn |
| Net income YoY | +148.4% | +106.3% | −34.6% | −25.6% | +48.5% | +16.0% | +10.7% | −1.4% |
| Diluted EPS | 2.17 | 4.50 | 2.93 | 2.24 | 3.26 | 3.62 | 3.99 | 3.92 |
| Diluted EPS YoY | +158.3% | +107.4% | −34.9% | −23.5% | +45.5% | +11.0% | +10.2% | −1.8% |
| net % | 9.8% | 22.1% | 15.2% | 10.0% | 11.7% | 15.7% | 16.5% | 14.7% |
| Free cash flow | -1.1 bn | -1.8 bn | -826.0 m | -1.4 bn | -1.6 bn | -1.5 bn | 833.0 m | -2.9 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.6 bn USD
- Financial debt
- 722.0 m USD
- Net debt
- -917.0 m USD
- Equity
- 38.9 bn USD
- Total assets
- 155.7 bn USD
- Debt / equity
- 0.02x
- Current ratio
- 0.65x
- ROE
- 11.5%
- ROA
- 2.9%
- FCF margin
- -9.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 20.4 bn | 23.1 bn | 29.3 bn | 25.3 bn | 26.7 bn | 29.6 bn | SEC (XBRL)· 19 Feb 2026verified |
| Operating income | 4.9 bn | 3.7 bn | 5.4 bn | 5.8 bn | 7.1 bn | 7.3 bn | SEC (XBRL)· 19 Feb 2026verified |
| Depreciation & amortisation | 3.9 bn | 4.0 bn | 4.1 bn | 5.0 bn | 5.3 bn | 6.0 bn | SEC (XBRL)· 19 Feb 2026verified |
| EBITDA | 8.8 bn ≈ | 7.7 bn ≈ | 9.4 bn ≈ | 10.8 bn ≈ | 12.3 bn ≈ | 13.3 bn ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Interest expense | 1.8 bn | 1.8 bn | 2.0 bn | 2.4 bn | 2.7 bn | 3.2 bn | SEC (XBRL)· 19 Feb 2026verified |
| Pre-tax income | 3.5 bn | 2.6 bn | 4.2 bn | 4.3 bn | 5.2 bn | 5.0 bn | SEC (XBRL)· 19 Feb 2026verified |
| Income tax | 393.0 m | 267.0 m | 795.0 m | 496.0 m | 969.0 m | 828.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Net income | 3.1 bn | 2.3 bn | 3.4 bn | 4.0 bn | 4.4 bn | 4.3 bn | SEC (XBRL)· 19 Feb 2026verified |
| Diluted EPS | 2.93 | 2.24 | 3.26 | 3.62 | 3.99 | 3.92 | SEC (XBRL)· 19 Feb 2026verified |
| Weighted average diluted shares | 1.1 bn | 1.1 bn | 1.1 bn | 1.1 bn | 1.1 bn | 1.1 bn | SEC (XBRL)· 19 Feb 2026verified |
| Dividend per share | 2.54 | 2.62 | 2.70 | 2.78 | 2.86 | 2.94 | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.1 bn | 1.8 bn | 1.9 bn | 748.0 m | 1.1 bn | 1.6 bn | SEC (XBRL)· 19 Feb 2026verified |
| Current assets | 8.6 bn | 9.0 bn | 10.4 bn | 10.4 bn | 10.7 bn | 10.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Property, plant & equipment, net | 87.6 bn | 91.1 bn | 94.6 bn | 99.8 bn | — | — | SEC (XBRL)· 15 Feb 2024verified |
| Goodwill | 5.3 bn | 5.3 bn | 5.2 bn | 5.2 bn | 5.2 bn | 5.2 bn | SEC (XBRL)· 19 Feb 2026verified |
| Intangibles (excl. goodwill) | 487.0 m | 445.0 m | 406.0 m | 368.0 m | 332.0 m | 300.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Total assets | 122.9 bn | 127.5 bn | 134.9 bn | 139.3 bn | 145.2 bn | 155.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Accounts payable | 2.3 bn | 2.2 bn | 3.5 bn | 2.9 bn | 3.7 bn | 3.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Short-term debt | 609.0 m | 1.4 bn | 2.6 bn | 2.3 bn | 1.3 bn | 722.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Current liabilities | 12.1 bn | 10.9 bn | 15.7 bn | 13.5 bn | 16.0 bn | 16.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Total liabilities | 90.4 bn | 95.0 bn | 100.4 bn | 104.1 bn | 108.5 bn | 116.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Equity | 32.2 bn | 32.3 bn | 34.5 bn | 35.2 bn | 36.7 bn | 38.9 bn | SEC (XBRL)· 19 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 6.7 bn | 6.2 bn | 6.3 bn | 7.6 bn | 9.8 bn | 9.8 bn | SEC (XBRL)· 19 Feb 2026verified |
| Capex | 7.5 bn | 7.6 bn | 7.9 bn | 9.1 bn | 9.0 bn | 12.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Free cash flow | -826.0 m ≈ | -1.4 bn ≈ | -1.6 bn ≈ | -1.5 bn ≈ | 833.0 m ≈ | -2.9 bn ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Investing cash flow | -7.0 bn | -7.4 bn | -8.4 bn | -9.7 bn | -9.4 bn | -14.0 bn | SEC (XBRL)· 19 Feb 2026verified |
| Financing cash flow | -576.0 m | 1.9 bn | 2.3 bn | 999.0 m | -208.0 m | 4.7 bn | SEC (XBRL)· 19 Feb 2026verified |
| Dividends paid | 2.7 bn | 2.8 bn | 2.9 bn | 3.0 bn | 3.0 bn | 3.0 bn | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
3 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 60 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 105.7 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet54
- Valuation64
- Quality85
- Growth46
- Returns58
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 38.63 – 167.17 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Dividend discount (DDM)38.63 – 51.96 (Mid 44.32)
- Peers: EV/EBITDA126.23 – 167.17 (Mid 152.71)10 companies used · median multiple 12.8x · quartiles 10.6x – 14.0xAEP, CEG, CNP, D, EIX, ES, ETR, NEE, NRG, VST
- Peers: P/E80.40 – 100.33 (Mid 89.96)11 companies used · median multiple 23.0x · quartiles 20.6x – 25.7xAEP, CEG, CNP, D, ES, ETR, FE, NEE, NRG, PPL, VST
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 60/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 16.2% | 100 (vs peers) | 6% |
| Net margin · Quality | 14.5% | 69 (vs peers) | 6% |
| Revenue CAGR 3Y · Growth | 0.3% | 23 (on a fixed band) | 6% |
| EPS CAGR 3Y · Growth | 6.3% | 63 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 0.1x | 100 (vs peers) | 13% |
| Interest coverage · Balance sheet | 2.2x | 20 (on a fixed band) | 11% |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 4% |
| P/E (TTM) · Valuation | 24.0x | 42 (vs peers) | 13% |
| EV/EBITDA · Valuation | 7.9x | 91 (vs peers) | 11% |
| Dividend yield · Returns | 3.2% | 58 (vs peers) | 15% |
| Payout ratio (EPS) · Returns | 75.8% | 57 (on a fixed band) | 6% |
Score groups
- Balance sheet54/100 · 3/3 factors with a value
- Growth46/100 · 2/2 factors with a value
- Quality85/100 · 2/2 factors with a value
- Returns58/100 · 2/2 factors with a value
- Valuation64/100 · 2/2 factors with a value
Memo
SOUTHERN CO (SO). Latest full fiscal year: 2025; data up to 2026-03-31.
Figures computed from the financial statements: revenue 29.6 bn USD in 2025; YoY growth 10.6%; net margin 14.5%; ROE 11.3%; net debt/EBITDA 0.1x.
The estimated value range is 80.40–100.33 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 89.96 USD, the price of 93.75 USD leaves a potential of -4.0% (value / price − 1) and a margin of safety of -4.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 60/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 16.2%
- Net debt / EBITDA: 0.1x
- EV/EBITDA: 7.9x
What contradicts it
- Revenue CAGR 3Y: 0.3%
- Interest coverage: 2.2x
- Current ratio: 0.7x
- The valuation methods diverge
Versus the vertical median
Electric Services (SIC 4911) · same industry (4-digit SIC) · compared with 13 companies
Only companies with a capitalisation between 13.2 bn and 846.1 bn (within 8× of the company's); 39 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NEENextera Energy Inc | 175.9 bn | 21.4 | 15.6% | 31.5% | +9.8% | −2% / +44% |
| SOSouthern Co | 105.7 bn | 24.0 | 11.3% | 14.5% | +10.6% | +1% / +33% |
| CEGConstellation Energy Corporation | 93.3 bn | 25.7 | 15.3% | 11.1% | +8.3% | −28% / +118% |
| AEPAmerican Electric Power Company, Inc. | 70.7 bn | 19.0 | 12.8% | 16.9% | +10.9% | +5% / +63% |
| DDominion Energy, Inc | 58.7 bn | 19.8 | 10.5% | 16.9% | +14.2% | +6% / +47% |
| ETREntergy Corp | 49.9 bn | 27.7 | 11.1% | 13.6% | +9.0% | +12% / +115% |
| VSTVistra Operations Company LLC | 46.9 bn | 23.0 | 43.1% | 11.6% | +3.0% | −22% / +294% |
| CNPCenterpoint Energy Inc | 27.8 bn | 26.1 | 9.6% | 11.4% | +8.3% | +6% / +50% |
| FEFirstenergy Corp | 27.3 bn | 25.7 | 8.4% | 6.9% | +12.0% | −1% / +28% |
| PPLPPL Corp | 26.9 bn | 21.8 | 8.3% | 13.1% | +6.9% | −3% / +37% |
| ESEversource Energy | 26.0 bn | 17.9 | 9.1% | 10.4% | +13.8% | +3% / +16% |
| EIXEdison International | 22.9 bn | 6.3 | 20.8% | 19.6% | +9.8% | +1% / −11% |
| NRGNRG Energy, Inc | 20.2 bn | 24.9 | 23.8% | 2.6% | +9.2% | −43% / +101% |
| TLNTalen Energy Corporation | 15.5 bn | — | -16.7% | -6.4% | +22.0% | −9% / +523% |
1- and 3-year price returns: for SO from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 52.62 Total return -42% · Per year -42% | 93.23 Total return 3% · Per year 3% | 140.69 Total return 54% · Per year 54% |
| 3 years | 46.86 Total return -43% · Per year -17% | 93.81 Total return 10% · Per year 3% | 156.04 Total return 78% · Per year 21% |
| 5 years | 41.73 Total return -45% · Per year -11% | 94.39 Total return 16% · Per year 3% | 173.05 Total return 106% · Per year 16% |
- Exit P/E± 23.45
- Net margin± 16.42
- Annual revenue growth± 14.04
- Annual dilution± 1.38
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Southern Company (SO) is a holding company in the electric services sector that owns three vertically integrated traditional electric utilities, Southern Power, and Southern Company Gas. In the first half of 2026, operating revenues were 15.4 billion USD, up 4.2% 3. Net income attributable to Southern Company was 2.5 billion USD in the first six months 2.
SWOT
Strengths
- A broad regional customer base and growing demand provide revenue from regulated activities.
- Long-term contracts at Southern Power provide high coverage of investment in generation assets.
- The integrated structure of generation, transmission and distribution allows coordinated system operation.
Weaknesses
- The large investment needs could place pressure on financing and debt levels.
- Cost recovery depends on regulatory approvals, which may delay or reduce rate increases.
- Some natural gas investments have been challenged in court, adding uncertainty to revenues.
Opportunities
- Contracts with data centers and other large customers could significantly expand the revenue base.
- Storage projects and turbine upgrades could add new generating capacity.
- Economic growth in the Southeastern United States could support long-term demand.
Threats
- Environmental compliance costs could rise faster than approved rates.
- Changes to tax incentives for renewable energy could reduce project profitability.
- Political pressure and customer opposition to rate increases could limit revenue growth.
Risks
- Cost recovery through rateshigh
Regulators may alter the timing or amount of costs recoverable through rates, which could affect profitability.
- Environmental and ARO costshigh
Compliance with air, water and coal ash rules requires significant investment, and recovery of these costs is not assured.
- Greenhouse gas policymedium
Emission reduction goals could prove difficult to achieve, and associated costs may not be fully recovered.
- Federal tax changesmedium
Changes to tax credits for renewable energy could affect revenues from Southern Power projects.
- Large construction project executionmedium
Delays or cost overruns on major projects could reduce returns on investment and add financing pressure.
Investment thesis
What would need to be true (bull case)
- If data center demand materializes under the signed contracts, regulated revenues could grow steadily over several years.
- High contract coverage at Southern Power could provide predictability for generation revenues.
- If regulators continue approving recovery of investment costs, the asset base could generate earnings growth.
What would break the thesis
- If regulators limit rates because of affordability concerns, revenues could lag behind the investments made.
- Environmental and compliance costs could rise more than expected, compressing profit margins.
- If large projects are delayed or exceed budget, returns on investment could be reduced.
What to watch
- Illinois Supreme Court decision on the Nicor Gas capital structure petitionQ3 2026
- Quarterly results and updated 2026 outlookQ3 2026
- Commencement of service under the large load data center contracts2028
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Southern Company is a holding company that owns all outstanding common stock of three traditional electric utilities, Alabama Power, Georgia Power and Mississippi Power, which provide electric service to retail customers in three Southeastern states 1. It also owns Southern Power, which develops and operates generation assets, including battery energy storage projects, and sells electricity at market-based rates in the wholesale market 1. Southern Company Gas distributes natural gas in four states, serving approximately 4.4 million customers 1.
Segments
Southern Power
Southern Power sells electricity in the wholesale market, mainly under long-term fixed-price contracts. At June 30, 2026, its investment coverage ratio was 97% through 2030 2. The company has announced turbine upgrade projects at its Franklin and Wansley gas facilities that could add incremental capacity if completed on schedule 2.
Market context
The company operates in the Southeastern United States, where management describes strong economic development and power demand 3. Demand from data centers and other large load customers has produced contracts covering about nine GWs, which could support revenue growth if investments and rates are recovered 1.
Trends
- Rising electricity demandtailwind
Projections point to significant demand growth led by data centers, which could support revenues of electric utilities if investments are recovered through rates.
- Rate and affordability pressureheadwind
Rates may face resistance because of rising costs and affordability concerns for customers, which could limit cost recovery.
- Climate policy and GHG goalsmixed
Emission reduction goals and GHG regulation could raise compliance costs, though they may also support demand for carbon-free sources.
- Changes in federal renewable incentivesmixed
Federal changes to tax incentives for renewable energy could affect project returns, while they may also create storage investment opportunities.
Competitive position
Southern Company operates in regulated markets and in the competitive wholesale market, where it competes with independent power producers and other energy providers. Sources also point to competition from new alternative energy sources and storage technologies 3.
- Other Southeastern electric utilities
Utilities serving the same region and participating in the Southeast energy market.
- Independent power producers
Operators selling power in the wholesale market and competing with Southern Power through PPAs.
- Alternative energy providers
New energy sources and storage technologies that could compete with traditional generation assets.
- Natural gas distributors
Companies distributing natural gas in the same regions and competing for customers in choice markets.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- UN warns of security vacuum in southern Lebanon if peacekeepers withdrawAnadolu Agency (TR, EN) · 04 Nov 2026 · EN
- Dangote Breaks Ground on $2.5 Billion Namibia Fuel Hub for Southern AfricaOil Price · 04 Nov 2026 · EN
- Israel attacks towns, sets homes ablaze in southern LebanonAnadolu Agency (TR, EN) · 04 Nov 2026 · EN
- Nigeria's Dangote launches $2.5bn Walvis Bay fuel hub to supply Southern Africa’s landlocked marketsbne IntelliNews (EN) · 04 Nov 2026 · EN
- Ukraine strikes Ozon logistics center in southern RussiaMeduza English (independent RU/exile) · 04 Nov 2026 · EN
- Drone strikes warehouse in southern Russia, online retailer Ozon claimsKyiv Independent (UA, EN) · 04 Nov 2026 · EN
- Global temperature-related mortality associated with El-Nino Southern OscillationNature Medicine · 04 Nov 2026 · EN
- Saudi-led coalition says it intercepted Houthi drone headed toward southern kingdomAnadolu Agency (TR, EN) · 03 Nov 2026 · EN
- Southern Ocean waters reveal distinct nutrient recycling pathways during decades-long journeys northPhys.org · 03 Nov 2026 · EN
- Russia bombs humanitarian aid distribution site in southern Ukraine, killing 31. More than 40 people remain missing.Meduza English (independent RU/exile) · 03 Nov 2026 · EN
- Russian forces damage DTEK facility in southern Odesa regionUkrinform (UA, EN) · 03 Nov 2026 · EN
- Storm causes widespread damage, power outages in southern BrazilAnadolu Agency (TR, EN) · 03 Nov 2026 · EN
- Explosions heard in southern Iran’s coastal areas: ReportsAnadolu Agency (TR, EN) · 02 Nov 2026 · EN
- Powerful storm tears through beach resort on Italy’s southern coastAl Jazeera — World · 02 Nov 2026 · EN
- American MQM-170 reconnaissance drones over southern QeshTelegram — Intel Slava Z (pro-RU OSINT EN) · 02 Nov 2026 · EN
- Houthi rebels claim strikes on airports in eastern, southern Saudi ArabiaTASS (RU, EN) · 02 Nov 2026 · EN
- Minefields kill 279 Russian troops on southern front in October – militaryUkrinform (UA, EN) · 02 Nov 2026 · EN
- 🇮🇱 ❌ 🇱🇧 — Israeli airstrike reported in Al-Qussair, southern Lebanon. @IntelSlav…Telegram — Intel Slava Z (pro-RU OSINT EN) · 02 Nov 2026 · EN
- Saudi civil defence sounds all-clear after alerts in southern citiesThe Straits Times — Asia · 02 Nov 2026 · EN
- Saudi-led coalition says it intercepted Houthi ballistic missile targeting southern regionAnadolu Agency (TR, EN) · 02 Nov 2026 · EN
SEC filings
- Current report22 Oct 2026Amendments to articles or bylaws · Other events · Financial statements and exhibits
- Current report06 Aug 2026Creation of a direct financial obligation · Item 3.02 · Financial statements and exhibits
- Current report04 Aug 2026Other events · Financial statements and exhibits
- Current report03 Aug 2026Other events · Financial statements and exhibits
- Current report08 Jun 2026Other events · Financial statements and exhibits
- Current report15 May 2026Shareholder vote · Financial statements and exhibits
- Proxy statement03 Apr 2026
- Current report19 Mar 2026Other events · Financial statements and exhibits
- Current report (amendment)17 Feb 2026Departure or appointment of officers
- Current report06 Nov 2025Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / SO · 19 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / SO · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / SO · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.