Capital investment and capacitypositive · 4 filings
“The increase was primarily due to an increase in capital expenditures subject to AFUDC.”10-Q · Apr 30, 2026 ↗
The Southern Company
SOMN
Market read
The Southern Company's move is spreading beyond its market group.
No new filing conclusion is available. 13 of 14 group members are active now; 7 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Company-0.7% todayVolume comparison unavailable
Market group13 of 14 activeRegulated Utilities · active
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- At least 10 of 14 members remain active in the next snapshot.
- Capital-flow agreement rises above 55%.
- BKH remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 4 of 14 members or fewer.
Research brief
The story so far
No new filing conclusion is available. 13 of 14 group members are active now; 7 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- At least 10 of 14 members remain active in the next snapshot.
- Capital-flow agreement rises above 55%.
- BKH remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations214
Usable filing statements474
Verified relationships6
Evidence supporting the case
- Latest annual revenue changed +10.6% year over year.
- Operating cash flow covered net income at 2.26x in the latest annual period.
- Capital investment and capacity has repeated favorable evidence across 4 filings.
- Credit and interest rates has repeated favorable evidence across 4 filings.
- Demand and volume has repeated favorable evidence across 4 filings.
- Tariffs and trade policy has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Operating margin changed -1.8 percentage points in the latest annual period.
- Net margin changed -1.8 percentage points in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
47.316m-11.7%12m—24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$23.1B+13.4%$2.24+0.3%
2022-12-31$29.3B+26.7%$3.26+1.2%
2023-12-31$25.3B-13.8%$3.62+1.6%
2024-12-31$26.7B+5.8%$3.99+0.4%
2025-12-31$29.6B+10.6%$3.92+0.6%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesmixed · 4 filings
“The net cash used for financing activities for the three months ended March 31, 2026 was primarily related to common stock dividend payments and net distributions to noncontrolling interests, partially offset by an increase in commercial paper borrowings.”10-Q · Apr 30, 2026 ↗
Demand and volumemixed · 4 filings
“All other variable rate demand revenue bonds and fixed rate revenue bonds required to be remarketed within the next 12 months are classified as long-term debt on the balance sheets as a result of available long-term committed credit.”10-Q · Apr 30, 2026 ↗
Energy and commodity pricesmixed · 4 filings
“Southern Co mpany Gas Net cash provided from operating activities increased $121 million for the three months ended March 31, 2026 as compared to the corresponding period in 2025 primarily due to higher natural gas cost recovery and timing of customer receiva…”10-Q · Apr 30, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
47.31-0.7% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SOMN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for SOMN. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind SOMN
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PWFiling-linked namepartnerApr 30, 2026 ▾
“The level of future earnings for Southern Power's competitive wholesale electric business depends on numerous factors including the parameters of the wholesale market and the efficient operation of its wholesale generating assets; Southern Power's ability to…”
LNNLindsay CorporationpartnerJul 31, 2025 ▾
“On June 6, 2025, the FERC approved Alabama Power's acquisition of Tenaska Alabama Partners, L.P., which owns and operates the Lindsay Hill Generating Station.”
GPJAFiling-linked namecompetitorFeb 19, 2026 ▾
“The traditional electric operating companies – Alabama Power, Georgia Power, and Mississippi Power – are each vertically integrated utilities providing electric service to retail customers in three Southeastern states in addition to wholesale customers in the…”
Filing peers
No filing peers are available for this name yet.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SOMN is currently a Participant in the organic co-movement group Regulated Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.