Southern Co. (SOMN) intrinsic value & 10-year financials
Southern Co. (SOMN) has a Graham intrinsic value of $61.82 per share. Over the last 10 fiscal years revenue grew 4.2% a year to $28.9B, with an average return on invested capital of 5.8%.
- Graham intrinsic value
- $61.82
- Revenue (FY2025)
- $28.9B
- Revenue growth (10-yr CAGR)
- 4.2%
- ROIC (10-yr avg)
- 5.8%
- Free cash flow (FY2025)
- -$2.9B
SOMN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $28.9B | $4.3B | $3.92 | -$2.9B | 25.2% | 6.4% |
| FY2024 | $26.8B | $4.4B | $3.99 | $833.0M | 26.4% | 6.5% |
| FY2023 | $24.8B | $4.0B | $3.62 | -$1.5B | 23.5% | 6.2% |
| FY2022 | $25.9B | $3.4B | $3.26 | -$1.6B | 20.7% | 5.6% |
| FY2021 | $23.5B | $2.3B | $2.24 | -$1.1B | 15.8% | 4.5% |
| FY2020 | $21.1B | $3.1B | $2.93 | -$745.0M | 23.2% | 6.2% |
| FY2019 | $21.4B | $4.7B | $4.50 | -$1.8B | 36.1% | 8.5% |
| FY2018 | $23.5B | $2.3B | $2.17 | -$1.1B | 17.8% | 5.4% |
| FY2017 | $23.0B | $926.0M | $0.84 | -$1.0B | 11.1% | 3.4% |
| FY2016 | $19.9B | $2.5B | $2.55 | -$2.4B | 23.3% | 5.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SOUTHERN CO has demonstrated mature, steady growth, with revenue compounding at 4.3% annually over the past decade.
SOUTHERN CO has historically struggled to out-earn its cost of capital, averaging just 5.8% ROIC.
Over the decade, SOUTHERN CO shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SOUTHERN CO is modeled at 4.9% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $61.82 per share.