The Southern revenue and financials
Secondary listing. The primary listing is The Southern · NYSE (USD)
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In the fiscal year ended December 2025, The Southern reported revenue of $29.55B (+10.59% year over year). Net income was $4.34B, a net margin of 14.7%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +10.59%
- 2025 vs 2024
- Net income growth
- −1.36%
- 2025 vs 2024
- Net margin
- 14.7%
- 2024: 16.5%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 3,054 | 1,226 | 2,597 | 3,774 | 2,181 | 1,250 | 2,173 | 3,616 | 2,688 | 1,311 | 1,813 | 2,840 |
| Depreciation and amortization | 1,596 | 1,580 | 1,605 | 1,565 | 1,449 | — | — | — | — | — | — | — |
| Capital expenditure | -3,695 | -2,944 | -4,285 | -3,215 | -3,019 | -2,437 | -2,749 | -2,311 | -2,125 | -1,770 | -2,534 | -2,663 |
| Investing cash flow | -3,337 | -3,421 | -4,360 | -3,865 | -2,900 | -2,834 | -2,722 | -2,456 | -1,837 | -2,385 | -2,947 | -2,433 |
| Financing cash flow | 2,286 | 1,542 | 61.0 | 2,168 | -348 | 2,815 | 595 | -1,316 | -472 | 985 | 165 | -761 |
| Dividends paid | -803 | -776 | -761 | -760 | -758 | -736 | -734 | -733 | -754 | -733 | -764 | -765 |
| Debt issued | 3,162 | 3,393 | 2,201 | 3,950 | 1,952 | 4,567 | 838 | 1,358 | 1,618 | 3,045 | 2,233 | 2,271 |
| Debt repaid | -2,063 | -1,372 | -2,502 | -972 | -1,528 | -876 | 561 | -1,896 | -1,349 | -1,206 | -1,209 | -2,190 |
| Net change in cash | 2,003 | -653 | -1,702 | 2,077 | -1,067 | 1,231 | 46.0 | -156 | 379 | -89.0 | -969 | -354 |
| Free cash flow | -641 | -1,718 | -1,688 | 559 | -838 | -1,187 | -576 | 1,305 | 563 | -459 | -721 | 177 |
| Levered free cash flow | -898 | -2,262 | -1,736 | 631 | -853 | -1,772 | -640 | 1,898 | 885 | -1,457 | -886 | -35.0 |