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

Nrg Energy brought in $30.7B of revenue in fiscal 2025, Southern $29.6B in fiscal 2025. Revenue changed by +9.2% at Nrg Energy and +10.4% at Southern on the year before, so Southern grew faster. Nrg Energy kept 2.8% of its revenue as net profit, Southern 14.7%. Free cash flow was $766M at Nrg Energy and -$2.9B at Southern.

Side by side, latest fiscal year

NRGSO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$30.7B$29.6B
Revenue growth+9.2%+10.4%
Net income$864M$4.3B
Net margin2.8%14.7%
Free cash flow$766M-$2.9B
Free cash flow margin2.5%-9.9%
Earnings per share (diluted)$4.01$3.92
Cash$4.7B$1.6B
Debt$16.6B$71.9B
Price to earnings25.021.1
Market value$21.1B$95.3B
Dividend yield1.75%3.55%
Rank by revenue in sector#4 of 109 · Utilities#5 of 109 · Utilities

Over the years

Revenue
NRG FY2018: $9.5BNRG FY2019: $9.8BNRG FY2020: $9.1BNRG FY2021: $27BNRG FY2022: $31.5BNRG FY2023: $28.8BNRG FY2024: $28.1BNRG FY2025: $30.7BSO FY2018: $25.2BSO FY2019: $22.6BSO FY2020: $21.1BSO FY2021: $23.5BSO FY2022: $29.3BSO FY2023: $25.3BSO FY2024: $26.8BSO FY2025: $29.6BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $30.7BSO $29.6B
Net income
NRG FY2018: $268MNRG FY2019: $4.4BNRG FY2020: $510MNRG FY2021: $2.2BNRG FY2022: $1.2BNRG FY2023: -$202MNRG FY2024: $1.1BNRG FY2025: $864MSO FY2018: $2.2BSO FY2019: $4.7BSO FY2020: $3.1BSO FY2021: $2.4BSO FY2022: $3.5BSO FY2023: $4BSO FY2024: $4.4BSO FY2025: $4.3BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $864MSO $4.3B
Net margin
NRG FY2018: 2.8%NRG FY2019: 45.2%NRG FY2020: 5.6%NRG FY2021: 8.1%NRG FY2022: 3.9%NRG FY2023: -0.7%NRG FY2024: 4.0%NRG FY2025: 2.8%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
NRG 2.8%SO 14.7%
Revenue growth
NRG FY2019: +3.6%NRG FY2020: -7.4%NRG FY2021: +196.8%NRG FY2022: +16.9%NRG FY2023: -8.6%NRG FY2024: -2.4%NRG FY2025: +9.2%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
NRG +9.2%SO +10.4%
Free cash flow
NRG FY2018: $989MNRG FY2019: $1.2BNRG FY2020: $1.6BNRG FY2021: $224MNRG FY2022: -$7MNRG FY2023: -$819MNRG FY2024: $1.8BNRG FY2025: $766MSO FY2018: -$1.1BSO FY2019: -$1.8BSO FY2020: -$826MSO FY2021: -$1.4BSO FY2022: -$1.6BSO FY2023: -$1.5BSO FY2024: $833MSO FY2025: -$2.9BFY18FY19FY20FY21FY22FY23FY24FY25
NRG $766MSO -$2.9B

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

Questions about Nrg Energy and Southern

Which is bigger by revenue, Nrg Energy or Southern?

Nrg Energy is bigger by revenue: $30.7B in fiscal 2025, against $29.6B for Southern in fiscal 2025.

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

Nrg Energy had a net margin of 2.8% in fiscal 2025; Southern had 14.7% in fiscal 2025.

Which grew revenue faster, Nrg Energy or Southern?

In their latest fiscal years revenue changed by +9.2% at Nrg 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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