Southern Co
Southern Co returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 5.78% | 5.21% | 6.3% | — | 3% | 1.4 pp |
| FY 2026 Q1 | Mar 31, 2026 | 5.68% | 5.28% | 1.7% | — | 2.86% | 1.3 pp |
| FY 2025 Q4 | Dec 31, 2025 | 5.78% | 5.44% | 3.41% | 12.54% | 2.89% | 1.4 pp |
| FY 2025 Q3 | Sep 30, 2025 | 5.77% | 5.54% | -0.97% | — | 2.91% | 1.4 pp |
| FY 2025 Q2 | Jun 30, 2025 | 5.64% | 5.45% | -1.92% | — | 2.85% | 1.2 pp |
| FY 2025 Q1 | Mar 31, 2025 | 5.93% | 5.61% | 10.58% | — | 3.09% | 1.5 pp |
| FY 2024 Q4 | Dec 31, 2024 | 5.85% | 5.54% | 15.12% | 13.61% | 2.99% | 1.4 pp |
| FY 2024 Q3 | Sep 30, 2024 | 6.23% | 5.62% | 36.54% | — | 3.25% | 1.8 pp |
| FY 2024 Q2 | Jun 30, 2024 | 6.12% | 5.48% | 31.46% | — | 3.22% | 1.7 pp |
| FY 2024 Q1 | Mar 31, 2024 | 5.74% | 5.06% | 19.8% | — | 3% | 1.3 pp |
| FY 2023 Q4 | Dec 31, 2023 | 5.53% | 4.76% | 12.7% | 12.86% | 2.81% | 1.1 pp |
| FY 2023 Q3 | Sep 30, 2023 | 4.58% | 3.86% | 0.88% | — | — | 0.2 pp |
| FY 2023 Q2 | Jun 30, 2023 | 4.6% | 3.98% | 5.71% | — | — | 0.2 pp |
| FY 2023 Q1 | Mar 31, 2023 | 4.8% | 4.35% | 15.35% | — | 2.46% | 0.4 pp |
| FY 2022 Q4 | Dec 31, 2022 | 5% | 4.56% | 17.49% | 12.09% | 2.61% | 0.6 pp |
| FY 2022 Q3 | Sep 30, 2022 | 4.79% | 4.12% | 1.47% | — | — | 0.4 pp |
| FY 2022 Q2 | Jun 30, 2022 | 4.38% | 3.79% | -20.57% | — | — | -0 pp |
| FY 2022 Q1 | Mar 31, 2022 | 3.73% | 3% | -60.37% | — | 1.73% | -0.7 pp |
| FY 2021 Q4 | Dec 31, 2021 | 4.03% | 3.25% | -26.61% | 8.57% | 1.84% | -0.4 pp |
| FY 2021 Q3 | Sep 30, 2021 | 4.98% | 4.17% | -5.71% | — | 2.34% | 0.6 pp |
| FY 2021 Q2 | Jun 30, 2021 | 5.32% | 4.34% | -2.38% | — | 2.54% | 0.9 pp |
| FY 2021 Q1 | Mar 31, 2021 | 5.77% | 4.68% | 1.25% | — | 2.76% | 1.4 pp |
| FY 2020 Q4 | Dec 31, 2020 | 5.52% | 4.5% | -34.14% | 11.24% | 2.57% | 1.1 pp |
| FY 2020 Q3 | Sep 30, 2020 | 5.63% | 4.44% | -27.25% | — | 2.65% | 1.2 pp |
| FY 2020 Q2 | Jun 30, 2020 | 5.81% | 4.69% | -24.46% | — | 2.77% | 1.4 pp |
| FY 2020 Q1 | Mar 31, 2020 | 6.04% | 4.97% | 4.9% | — | 3.05% | 1.6 pp |
| FY 2019 Q4 | Dec 31, 2019 | 7.42% | 7.41% | 98.56% | 18.15% | 4.03% | 3 pp |
| FY 2019 Q3 | Sep 30, 2019 | 7.5% | 7.41% | 111.16% | — | 4.02% | 3.1 pp |
| FY 2019 Q2 | Jun 30, 2019 | 7.28% | 7.7% | — | — | 3.94% | 2.9 pp |
| FY 2019 Q1 | Mar 31, 2019 | 5.84% | 6.44% | — | — | 3.04% | 1.4 pp |
| FY 2018 Q4 | Dec 31, 2018 | 4.72% | 4.19% | 430.12% | 9.11% | 2.02% | 0.3 pp |
| FY 2018 Q3 | Sep 30, 2018 | 5.12% | 4.49% | — | 9.98% | 2.28% | 0.7 pp |
| FY 2018 Q2 | Jun 30, 2018 | 4.97% | 4.4% | 463.72% | 9.99% | 2.18% | 0.6 pp |
| FY 2018 Q1 | Mar 31, 2018 | — | 2.68% | — | 4.51% | 1.08% | — |
| FY 2017 Q4 | Dec 31, 2017 | 3.02% | 2.63% | -54.94% | 3.44% | 0.84% | -1.4 pp |
| FY 2017 Q3 | Sep 30, 2017 | 2.18% | 2.42% | -32.68% | 2.23% | 0.61% | -2.2 pp |
| FY 2017 Q2 | Jun 30, 2017 | 2.61% | 2.49% | -9.31% | 2.66% | 0.72% | -1.8 pp |
| FY 2017 Q1 | Mar 31, 2017 | 5.72% | 5.93% | 3.02% | 11.32% | 2.86% | 1.3 pp |
| FY 2016 Q4 | Dec 31, 2016 | 5.54% | 5.58% | 2.15% | 10.8% | 2.69% | 1.1 pp |
| FY 2016 Q3 | Sep 30, 2016 | — | — | — | — | 2.86% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | — | — | — | 2.91% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | — | — | — | 3.2% | — |
| FY 2015 Q4 | Dec 31, 2015 | 6.08% | 6.53% | 10.04% | 11.68% | 3.26% | 1.7 pp |
| FY 2015 Q3 | Sep 30, 2015 | — | — | — | — | — | — |
| FY 2015 Q2 | Jun 30, 2015 | — | — | — | — | — | — |
| FY 2015 Q1 | Mar 31, 2015 | — | — | — | — | 3.21% | — |
| FY 2014 Q4 | Dec 31, 2014 | 5.61% | 6.02% | 10.17% | 10.08% | 3% | 1.2 pp |
| FY 2014 Q3 | Sep 30, 2014 | — | — | — | — | — | — |
| FY 2014 Q2 | Jun 30, 2014 | — | — | — | — | — | — |
| FY 2014 Q1 | Mar 31, 2014 | — | 6.21% | — | — | 3.09% | — |
| FY 2013 Q4 | Dec 31, 2013 | 5.23% | 5.65% | -44.02% | 8.81% | 2.68% | 0.8 pp |
| FY 2013 Q3 | Sep 30, 2013 | — | — | — | — | — | — |
| FY 2013 Q2 | Jun 30, 2013 | — | — | — | — | — | — |
| FY 2013 Q1 | Mar 31, 2013 | — | 7.29% | — | — | 3.46% | — |
| FY 2012 Q4 | Dec 31, 2012 | 7.28% | 8.2% | 4.7% | — | 3.95% | 2.9 pp |
| FY 2012 Q3 | Sep 30, 2012 | — | 7.92% | — | — | 3.84% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 7.89% | — | — | 3.82% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 8.08% | — | — | 3.85% | — |
| FY 2011 Q4 | Dec 31, 2011 | 7.3% | 8.36% | 22.7% | — | 3.97% | 2.9 pp |
| FY 2011 Q3 | Sep 30, 2011 | — | 8.18% | — | — | 3.85% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 8.02% | — | — | 3.77% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | 7.77% | — | — | 3.66% | — |
| FY 2010 Q4 | Dec 31, 2010 | 7.03% | 8% | — | — | 3.81% | 2.6 pp |
| FY 2010 Q3 | Sep 30, 2010 | — | 8.08% | — | — | 4.05% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | 8.17% | — | — | 4.06% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 4.4%, rounded from the Utility · General benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · SO, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.