SOSouthern Company

Utilities · Electric Utilities · NYSE

Employees: 29,800
Headquarters: Atlanta, GA
CEO: Christopher C. Womack
Next results: around Feb 18, 2027

RevenueFY2016–25 $29.6B+10.6% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $4.3B−1.4% FY2024: $4.4B 10-K FY2025 · XBRL Free cash flowFY2016–25 −$2.9B FY2024: $833.0M 10-K FY2025 · XBRL Operating marginFY2016–25 24.7%−1.8 pts 22.5% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 19, 2026 against Feb 20, 2025

Area	What changed	Source
Risk factors	3 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Critical audit matters changed	New this year: II-69 (“or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or dis”). No longer listed: II-68. Same as last year: Table of Contents Index to Financial Statements	10-K · XBRL
Accounting checks	9 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	3 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 19, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-20. Quoted as filed.

The OBBB was signed into law on July 4, 2025. The OBBB, among other things, materially changed the requirements for most of the federal renewable energy incentives. The Registrants are still assessing the impacts of the OBBB on tax incentives for renewable energy projects. Any loss of, reduction in, or impacts on tax incentives,…
10-K, Item 1A

All 3 new paragraphs →

Accounting checks

latest 10-K

9 of 10 clear 1 worth a look. Checks, not verdicts.

!
Critical audit matters changedNew this year: II-69 (“or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or dis”). No longer listed: II-68. Same as last year: Table of Contents Index to Financial Statements
✓
Receivables +3.0% vs revenue +10.6% (-7.6 pts)
✓
Cash from operations $9.8B vs net income $4.3B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: Deloitte & Touche LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 5, 20268-K Quarterly results 8-K item 2.02
Nov 5, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026
Oct 22, 20268-K Bylaws or fiscal year changed, Other events 8-K items 5.03, 8.01

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Work on SO in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/SO/export.csv") into a cell.