ROARABLE // PRO
GLOBAL DESKS // NYC --:--:-- NYSE
US TAPE
ROAR ▸

SO // Southern Company

DES <GO> NYSE RQD COCKPIT → CIK 0000092122 ↗
Utilities • Electric Utilities: Central
$93.71 ▲ +0.72 (+0.77%)
MKT CAP: $106.97B • VOL: 6.07M
SO // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE
PRIOR: RQD 48/100 [D] (+0 PT) • UNCHANGED
ROARABLE D
RQD CONFIDENCE
48 / 100 +0D
5 X 20-PT QUANT PILLARS
E 0 D 35 C 59 B 70 A 86+
Roarable Sell — Underperform / Distribution Warning
01 MASSIVE / SEC XBRL
Forensic Fundamentals
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
02 INSTITUTIONAL TAPE & TREND
Whale & Options Flow
14 / 20
SOLID
52W RANGE 63% • VS 200D +0.6% • RSI 62.9
03 SEC XBRL CAPITAL ALLOCATION
Insider & Capital Conviction
[LOCKED] FLAGGED
UNLOCK BELOW TO REVEAL
04 FRED 90D r-MATRIX
Macro Regime Fit
10 / 20
NEUTRAL
NEUTRAL • r(10Y)=-0.33 (+23bp) • r(OAS)=+0.15
05 10-K REDLINE AUDIT
Forensic 10-K Risk
10 / 20
NEUTRAL
20 BASE - 10 DEDUCT • 0 CRIT / 0 MED • STABLE
ALERT

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SO // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -2.38%⚡ TESTING RESISTANCE
2026-11-02O $91.52H $93.71L $91.52C $93.71VOL 4.28M
RES: $94.22SUP: $79.48SMA50: $87.92SMA200: $92.48
$100.5$95.39$90.30$85.20$80.11RES $94.22SUP $79.48$93.712026-05-042026-06-172026-08-042026-09-182026-11-02
SO // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE
NEUTRAL / PAIR TRADE CONVICTION: 49/100
BEAR 0
100 BULL

Southern Company (SO) exhibits 45.0% gross margins and 6.9% return on invested capital within Utilities (Electric Utilities: Central), balanced against a 8.5x enterprise multiple and 4.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)
01. Operating Leverage & Capital Efficiency Moat

Sustained 45.0% gross profitability converts into 24.7% operating margin and 6.9% ROIC, outpacing sector cost of capital.

ROIC: 6.9% // GM: 45.0%
02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +10.6% paired with -2.74% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +10.6% // FCF YLD: -2.74%
03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 0.98 and Piotroski F-Score of 5/9 indicate low near-term refinancing stress.

ALTMAN Z: 0.98 // F-SCORE: 5/9
▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)
01. Multiple Compression & Duration Sensitivity

Trading at 24.6x trailing P/E (22.9x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 24.6x // EV/EBITDA: 8.5x
02. Options Skew & Event Volatility Risk

Options market prices a ±5.2% implied move with a 0.85 put/call ratio around $93.71 max pain.

IMPL MOVE: ±5.2% // P/C: 0.85
03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Electric Utilities: Central require continuous execution to defend 14.7% net margins.

NET MARGIN: 14.7% // D/E: 1.36x
KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 22.9x forward consensus, and institutional 13F positioning.
MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.58).
FORM 4 & 13F FLOW OPEN OWN <GO>
FILER SIDE $ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>
UNUSUAL OPTIONS TAPE OPEN OPT <GO>
STRIKE / EXP TYPE PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>
KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>
TRAILING P/E 24.6x
FORWARD P/E 22.9x
EV / EBITDA 8.5x
FCF YIELD -2.74%
GROSS MARGIN —
OPERATING MARGIN 24.7%
NET MARGIN 14.7%
ROIC % 6.9%
REV GROWTH YOY +10.6%
DILUTED EPS TTM $3.77
DEBT / EQUITY 1.36x
DIVIDEND YIELD 2.82%
RSI-14 MOMENTUM 62.9
5Y EQUITY BETA 0.58
FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>
MACRO CORRELATION CALIBRATION ACTIVE BELOW.
FRED MACRO REGIME STRESS-TEST SIMULATOR // SOPEARSON R VARIANCE ENGINE
01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO
02 // POSITION NOTIONAL EXPOSURE
HEADLINE STRESS SCORE
75/100SEVERE DRAWDOWN PRESSURE
PRIMARY FACTOR EXPOSURE
DFII10 // -0.61 r
Latest: 2.08%
EST. DIRECTIONAL MOVE
-8.50%
Implied Px: $85.75
EST. DOLLAR VARIANCE
-$4,248
On $50,000 Notional
[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for SO & activate live FRED threshold breach alerts.

HEAD-TO-HEAD PEER COMPARISONS COMP <GO>