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Where Does Southern Company Really Stand in the Face of 2H16?

PART:
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Part 5
Where Does Southern Company Really Stand in the Face of 2H16? PART 5 OF 9

Where Is Southern Company’s Leverage Compared to the Industry Average?

Southern Company’s debt profile

Southern Company’s (SO) integrated regulated operations are a positive factor for its credit profile. It had total debt of $29.7 billion at the end of first quarter of 2016. Its debt-to-equity ratio stands at 1.3x, and its debt-to-market-capitalization is 0.6x.

Where Is Southern Company&#8217;s Leverage Compared to the Industry Average?

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SO has a net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio of 4.3x, which is roughly in line with the industry average. Remember, net debt-to-EBITDA ratio tells how many years the company would take to repay its debt if debt and EBITDA remained constant.

Where Is Southern Company&#8217;s Leverage Compared to the Industry Average?

PPL Corporation (PPL) has the maximum leverage among the peers we have considered. Duke Energy’s (DUK) net debt-to-EBITDA ratio is 5x.

Continue to the next part for a discussion of the dividend yields of Southern Company and its industry peers.

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