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Constellation Energy vs Southern: revenue, profit, margins and growth compared

Constellation Energy brought in $25.5B of revenue in fiscal 2025, Southern $29.6B in fiscal 2025. Revenue changed by +8.3% at Constellation Energy and +10.4% at Southern on the year before, so Southern grew faster. Constellation Energy kept 9.1% of its revenue as net profit, Southern 14.7%. Free cash flow was $1.3B at Constellation Energy and -$2.9B at Southern.

Side by side, latest fiscal year

CEGSO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$25.5B$29.6B
Revenue growth+8.3%+10.4%
Net income$2.3B$4.3B
Net margin9.1%14.7%
Free cash flow$1.3B-$2.9B
Free cash flow margin5.0%-9.9%
Earnings per share (diluted)$7.40$3.92
Cash$3.6B$1.6B
Debt$7.4B$71.9B
Price to earnings35.621.1
Market value$93.3B$95.3B
Dividend yield0.15%3.55%
Rank by revenue in sector#7 of 109 · Utilities#5 of 109 · Utilities

Over the years

Revenue
CEG FY2020: $17.6BCEG FY2022: $19.6BCEG FY2022: $24.4BCEG FY2023: $24.9BCEG FY2024: $23.6BCEG FY2025: $25.5BSO FY2018: $25.2BSO FY2019: $22.6BSO FY2020: $21.1BSO FY2021: $23.5BSO FY2022: $29.3BSO FY2023: $25.3BSO FY2024: $26.8BSO FY2025: $29.6BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $25.5BSO $29.6B
Net income
CEG FY2020: $589MCEG FY2022: -$205MCEG FY2022: -$160MCEG FY2023: $1.6BCEG FY2024: $3.7BCEG FY2025: $2.3BSO FY2018: $2.2BSO FY2019: $4.7BSO FY2020: $3.1BSO FY2021: $2.4BSO FY2022: $3.5BSO FY2023: $4BSO FY2024: $4.4BSO FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $2.3BSO $4.3B
Net margin
CEG FY2020: 3.3%CEG FY2022: -1.0%CEG FY2022: -0.7%CEG FY2023: 6.5%CEG FY2024: 15.9%CEG FY2025: 9.1%SO FY2018: 8.8%SO FY2019: 21.0%SO FY2020: 14.8%SO FY2021: 10.2%SO FY2022: 12.0%SO FY2023: 15.7%SO FY2024: 16.4%SO FY2025: 14.7%FY18FY19FY20FY21FY22FY23FY24FY25
CEG 9.1%SO 14.7%
Revenue growth
CEG FY2022: +11.6%CEG FY2022: +24.4%CEG FY2023: +2.0%CEG FY2024: -5.4%CEG FY2025: +8.3%SO FY2019: -10.5%SO FY2020: -6.6%SO FY2021: +11.2%SO FY2022: +24.8%SO FY2023: -13.8%SO FY2024: +6.0%SO FY2025: +10.4%FY19FY20FY21FY22FY23FY24FY25
CEG +8.3%SO +10.4%
Free cash flow
CEG FY2020: -$1.2BCEG FY2022: -$2.7BCEG FY2022: -$4BCEG FY2023: -$7.7BCEG FY2024: -$5BCEG FY2025: $1.3BSO FY2018: -$1.1BSO FY2019: -$1.8BSO FY2020: -$826MSO FY2021: -$1.4BSO FY2022: -$1.6BSO FY2023: -$1.5BSO FY2024: $833MSO FY2025: -$2.9BFY18FY19FY20FY21FY22FY23FY24FY25
CEG $1.3BSO -$2.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about Constellation Energy and Southern

Which is bigger by revenue, Constellation Energy or Southern?

Southern is bigger by revenue: $29.6B in fiscal 2025, against $25.5B for Constellation Energy in fiscal 2025.

Which keeps more of its revenue as profit, Constellation Energy or Southern?

Constellation Energy had a net margin of 9.1% in fiscal 2025; Southern had 14.7% in fiscal 2025.

Which grew revenue faster, Constellation Energy or Southern?

In their latest fiscal years revenue changed by +8.3% at Constellation Energy and +10.4% at Southern.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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