Southern Company (SO)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	5,826,000	5,370,000	3,698,000	4,885,000	7,736,000
Revenue	US$ in thousands	25,253,000	29,279,000	23,113,000	20,375,000	21,419,000
Operating profit margin		23.07%	18.34%	16.00%	23.98%	36.12%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $5,826,000K ÷ $25,253,000K
= 23.07%

The operating profit margin of Southern Company has fluctuated over the past five years. In 2023, the operating profit margin increased to 22.80% from 19.63% in 2022. However, this was below the levels observed in 2020 and 2019, where the operating profit margins were 25.25% and 25.02% respectively. The company experienced a slight decline in operating profit margin in 2021 compared to 2020. Overall, Southern Company has demonstrated relative stability in its operating profit margin performance over the past five years, maintaining levels above 20% in most years.