Southern (SO) Financial Forecast Calculator
Interactive 5-year forecast and DCF for Southern. Adjust revenue growth, gross margin, capex intensity, WACC, and terminal growth - see revenue, free cash flow, and enterprise value update in real time. Seeded from Southern’s most recent SEC filings.
Assumptions
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Keep iterating on the Southern forecast in Excel. The downloadable sample has every assumption you see here plus a fully integrated income statement, balance sheet, cash flow, and debt schedule - five years of SEC historicals and live formulas in a fully editable workbook.
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Frequently asked
What does Southern Company do and what are its main business segments?+
Southern Company is an energy holding company based in Atlanta, Georgia, providing electric and natural gas utility services to approximately 9 million customers across the Southeastern United States. Its primary business segments include Traditional Electric Operating Companies, Southern Company Gas, and Southern Power, which contribute approximately 70%, 15%, and 10% of total revenue, respectively.
How does Southern Company generate its revenue and what drives its financial performance?+
Southern Company generates revenue primarily through its highly asset-heavy and regulated utility business model. Its financial performance relies on state public service commissions approving rates that allow the company to recover costs and earn a return on its capital investments, known as the rate base. Growth is also driven by expanding customer bases and increasing energy demand within its service territories.
What are the key capital expenditure assumptions in a financial model for Southern Company?+
Southern Company has exceptionally high capital expenditure requirements, typically ranging from 45-55% of revenue due to the nature of the utility business. Approximately 70% of this capital spending is allocated to growth and infrastructure modernization, with the remaining 30% for maintenance. The company has announced an $81 billion capex plan for 2025-2029, largely for new generation capacity.
What is the primary purpose of a financial model for Southern Company?+
The primary purpose of a financial model for Southern Company is to project its future financial performance, rate base growth, and credit metrics. This analysis helps determine the company's equity valuation and assesses its capacity to fund significant capital expenditure programs while maintaining its dividend and investment-grade credit rating.
What is Southern Company's working capital profile like in its financial model?+
Southern Company typically exhibits a negative or near-zero net working capital as a percentage of revenue. Unlike many businesses, utilities do not rely on working capital to fund growth; instead, they primarily use long-term debt and equity for their substantial capital investments.
Can I download an Excel financial model for Southern Company, and what is its forecast horizon?+
Yes, an Excel financial model for Southern Company is available for download, belonging to the general corporate model family. This model provides financial projections with a forecast horizon extending from fiscal year 2026 through fiscal year 2030.
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