SO EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
SO's ev/ebitda is right around its 10-year median of 12.4.
EV/EBITDA History
SO EV/EBITDA by year
Yearly range of SO’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 7.9 to 17.1, averaging 12.6.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 11.3 | 12.3 | 13.1 | 12.3 |
| 2025 | 11.3 | 12.3 | 12.9 | 11.3 |
| 2024 | 11.3 | 12.0 | 12.6 | 11.8 |
| 2023 | 12.1 | 13.1 | 13.7 | 13.3 |
| 2022 | 12.2 | 14.6 | 16.4 | 13.3 |
| 2021 | 11.9 | 12.7 | 15.1 | 15.1 |
| 2020 | 7.9 | 11.3 | 12.9 | 12.5 |
| 2019 | 8.8 | 10.0 | 12.3 | 9.8 |
| 2018 | 10.7 | 13.1 | 15.5 | 11.2 |
| 2017 | 11.5 | 14.4 | 17.1 | 16.1 |
| 2016 | 11.8 | 12.2 | 12.5 | 12.1 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is SO EV/EBITDA High or Low Right Now?
The Southern Company's EV/EBITDA is currently 12.3, which is around average relative to its 10-year historical range. The 10-year median EV/EBITDA for SO is approximately 12.4. See all SO valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.