Reportable was Southern’s largest segment in fiscal 2025, bringing in $113.68B of $139.93B (81%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2022 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Traditional Operating Companies | — | — | — | |||||||
| Reportable | $70.35B | $101.98B | $113.68B | |||||||
| Wholesale Gas Services | — | — | — | |||||||
| Southern Company Gas | $53.66B | $40.10B | $5.24B | |||||||
| Gas Distribution Operations | $47.40B | $35.09B | — | |||||||
| Electric Utilities | -$8.14B | -$3.49B | -$4.29B | |||||||
| Southern Power | — | $18.13B | $19.78B | |||||||
| Gas Marketing Services | $5.74B | $4.64B | $5.24B | |||||||
| All Other | — | — | — | |||||||
| Other Segments | — | — | — | |||||||
| Gas Midstream Operations | — | — | — | |||||||
| Gas Pipeline Investments | $288.00M | $288.00M | $288.00M | |||||||
| Total | $169.31B | $196.74B | $139.93B |
Southern brought in $139.93B from its six segments in fiscal 2025, the year ended December 31, 2025. Southern regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $196.74B. Reportable was the largest at $113.68B (81.2%), ahead of Southern Power at $19.78B (14.1%) and Southern Company Gas at $5.24B (3.7%). The other two segments brought in $5.53B combined.
Compared with fiscal 2024, Gas Marketing Services grew fastest, up 12.8% to $5.24B, while Southern Company Gas fell the most, down 86.9% to $5.24B.
Southern stopped reporting Gas Distribution Operations as a separate segment after fiscal 2024, when it brought in $35.09B. The total is net of Electric Utilities, which took $4.29B off revenue in fiscal 2025.
Georgia Power was Southern’s largest revenue line in fiscal 2019, bringing in $24.80B of $54.34B (46%).
| Legal Entity | FY 2008 | FY 2009 | FY 2014 | FY 2014 | FY 2014 | FY 2015 | FY 2015 | FY 2015 | FY 2016 | FY 2016 | FY 2016 | FY 2017 | FY 2017 | FY 2017 | FY 2018 | FY 2018 | FY 2018 | FY 2019 | FY 2019 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Traditional Operating Companies | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Georgia Power | — | — | — | $16.49B | $18.43B | $22.91B | $17.65B | $18.43B | $23.34B | $16.50B | $19.05B | $24.80B | ||||||||
| Georgia Power Co | $16.85B | — | $24.28B | — | — | — | — | — | — | — | — | — | ||||||||
| Alabama Power | — | — | — | $12.44B | $13.36B | $15.66B | $13.26B | $13.53B | $15.66B | $12.67B | $13.62B | $16.57B | ||||||||
| Alabama Power Co | $11.98B | — | $16.07B | — | — | — | — | — | — | — | — | — | ||||||||
| Southern Company Gas | — | $40.33B | — | $14.04B | $6.44B | $5.09B | $14.75B | $6.57B | $4.43B | $13.27B | $6.20B | $4.48B | ||||||||
| Southern Co Gas | $12.01B | — | $4.89B | — | — | — | — | — | — | — | — | — | ||||||||
| Southern Power | — | — | — | $4.05B | $4.76B | $5.56B | $4.58B | $5.00B | $5.72B | $3.99B | $4.59B | $5.17B | ||||||||
| Southern Power Co | $2.84B | — | $4.50B | — | — | — | — | — | — | — | — | — | ||||||||
| Gulf Power Co | $3.02B | — | $3.92B | — | — | — | — | — | — | — | — | — | ||||||||
| Gulf Power | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Mississippi Power | — | — | — | $2.45B | $2.73B | $3.07B | $2.72B | $2.67B | $3.22B | $2.58B | $2.82B | $3.33B | ||||||||
| Mississippi Power Co | $2.31B | — | $3.17B | — | — | — | — | — | — | — | — | — | ||||||||
| All Other | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Total | $49.00B | $40.33B | $56.83B | $49.46B | $45.72B | $52.29B | $52.96B | $46.20B | $52.36B | $49.01B | $46.28B | $54.34B |
Southern brought in $54.34B from its five revenue lines in fiscal 2019, the year ended September 30, 2019. That was up 17.4% from $46.28B in fiscal 2019. Georgia Power was the largest at $24.80B (45.6%), ahead of Alabama Power at $16.57B (30.5%) and Southern Power at $5.17B (9.5%). The other two revenue lines brought in $7.81B combined.
Compared with fiscal 2019, Georgia Power grew fastest, up 30.1% to $24.80B, while Southern Company Gas fell the most, down 27.7% to $4.48B.
Southern stopped reporting Georgia Power Co ($24.28B in fiscal 2016), Alabama Power Co ($16.07B in fiscal 2016), Southern Co Gas ($4.89B in fiscal 2016) and three others as separate revenue lines.
Retail was Southern’s largest revenue line in fiscal 2016, bringing in $137.11B of $165.36B (83%).
| Products and Services | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2013 | FY 2014 | FY 2015 | FY 2016 |
|---|---|---|---|---|---|---|---|---|
| Retail | $130.87B | $139.95B | $134.88B | $137.11B | ||||
| Electric Utilities | $8.09B | $9.47B | $8.56B | $10.92B | ||||
| Wholesale | $16.70B | $19.66B | $16.18B | $17.33B | ||||
| Total | $155.66B | $169.07B | $159.62B | $165.36B |
Southern brought in $165.36B from its three revenue lines in fiscal 2016, the year ended December 31, 2016. That was up 3.6% from $159.62B in fiscal 2015. Retail was the largest at $137.11B (82.9%), ahead of Wholesale at $17.33B (10.5%) and Electric Utilities at $10.92B (6.6%).
Compared with fiscal 2015, Electric Utilities grew fastest, up 27.5% to $10.92B. Every revenue line above 2% of revenue grew. From fiscal 2013 to 2016, combined revenue from these revenue lines grew from $155.66B to $165.36B, a compound annual growth rate of 2.0%. Retail's share of the total fell from 84.1% to 82.9%.
Southern (SO) reports its revenue by segment, by legal entity and by products and services. In fiscal 2025, Reportable was its largest segment, bringing in $113.68B (81.2% of the total), followed by Southern Power at $19.78B (14.1%).
Reportable was Southern's largest segment in fiscal 2025, bringing in $113.68B, or 81.2% of the $139.93B total across its six segments.
Georgia Power was Southern's largest revenue line in fiscal 2019, bringing in $24.80B, or 45.6% of the $54.34B total across its five revenue lines.
Among Southern's revenue lines that make up at least 2% of revenue, Electric Utilities grew fastest in fiscal 2016, up 27.5% from $8.56B to $10.92B.
Every figure comes from Southern's annual financial filings, as reported. Each line keeps the name Southern gives it, and years follow its fiscal calendar.
Southern's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.