Seek Returns

CEG vs. SO: Constellation Energy vs. Southern Company Stock Comparison

How do Constellation Energy (CEG) and Southern Company (SO) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Constellation Energy (CEG) and Southern Company (SO) are both classified in the Electric Utilities sub-industry within the broader Electric Utilities industry, placing them in the closest GICS peer bucket.

Southern Company (SO) has more than two decades of public-market history since December 31, 1981, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.

Company profile comparison for Constellation Energy (CEG) and Southern Company (SO)
Profile ItemCEGSO
NameConstellation Energy CorporationThe Southern Company
Country/RegionUnited StatesUnited States
GICS SectorUtilitiesUtilities
GICS Industry GroupUtilitiesUtilities
GICS IndustryElectric UtilitiesElectric Utilities
GICS Sub-IndustryElectric UtilitiesElectric Utilities
Market Capitalization100.09 billion USD106.75 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJanuary 19, 2022December 31, 1981
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

CEG
SO
GSPC
Loading price history…
Constellation Energy (CEG) vs. Southern Company (SO), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…
Trailing total returns for Constellation Energy (CEG) and Southern Company (SO). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…
Calendar-year total returns for Constellation Energy (CEG) and Southern Company (SO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
Total Return (1Y)-12.94%1.74%
Total Return (3Y, Annualized)39.03%14.43%
Total Return (5Y, Annualized)--11.01%

Risk Profile

Drawdown History

CEG
SO
GSPC
Loading price history…
Constellation Energy (CEG) vs. Southern Company (SO), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…
Distribution of monthly total returns for Constellation Energy (CEG) and Southern Company (SO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
Volatility (1Y, Annualized)46.90%17.00%
Beta (5Y)1.120.33
Max Drawdown (5Y)-50.70%-23.28%
Avg. Volume (3M)3.53M5.85M

Risk-Adjusted Performance

Risk-Return Positioning

Loading chart…
CEG and SO are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
Sharpe Ratio (1Y)-0.36-0.13
Sortino Ratio (1Y)-0.50-0.19

Profitability

ROE (TTM)

Constellation Energy (CEG) at 15.06% sits in the top ROE quartile, while Southern Company (SO) at 11.48% is closer to the peer norm — stronger capital efficiency for CEG.

CEG

Utilities industry group

15.06%

Max
17.16%
CEG
15.06%
Q3
11.72%
Median
9.48%
Q1
7.65%
Min
2.49%

SO

Utilities industry group

11.48%

Max
17.16%
Q3
11.72%
SO
11.48%
Median
9.48%
Q1
7.65%
Min
2.49%
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

Both Constellation Energy (CEG) at 11.08% and Southern Company (SO) at 15.44% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

CEG

Utilities industry group

11.08%

Max
26.86%
Q3
16.62%
Median
12.65%
CEG
11.08%
Q1
8.88%
Min
-1.02%

SO

Utilities industry group

15.44%

Max
26.86%
Q3
16.62%
SO
15.44%
Median
12.65%
Q1
8.88%
Min
-1.02%
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

Southern Company (SO) at 29.61% carries a top-quartile operating margin, while Constellation Energy (CEG) at 8.66% operates in the bottom quartile.

CEG

Utilities industry group

8.66%

Max
45.14%
Q3
27.32%
Median
21.97%
Q1
13.84%
CEG
8.66%
Min
-4.80%

SO

Utilities industry group

29.61%

Max
45.14%
SO
29.61%
Q3
27.32%
Median
21.97%
Q1
13.84%
Min
-4.80%
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
ROE (TTM)15.06%11.48%
ROA (TTM)3.89%3.27%
Net Margin (TTM)11.08%15.44%
Operating Margin (TTM)8.66%29.61%
Gross Margin (TTM)22.11%48.29%

Growth

Revenue Growth

Both Constellation Energy (CEG) at 8.34% and Southern Company (SO) at 10.59% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Southern Company (SO) at -1.75% is around its peer norm for EPS growth, while Constellation Energy (CEG) at -37.76% drops into the bottom quartile, signaling weaker earnings momentum.

Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
Revenue Growth (YoY)8.34%10.59%
Revenue Growth (3Y CAGR)1.47%0.31%
EPS Growth (YoY)-37.76%-1.75%
EPS Growth (3Y CAGR)--6.34%

Financial Strength

Current Ratio (MRQ)

Southern Company (SO) at 0.79 keeps current ratio within its industry’s typical mid-range, while Constellation Energy (CEG) at 1.46 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

CEG

Utilities industry group

1.46

Max
1.71
CEG
1.46
Q3
1.17
Median
0.87
Q1
0.66
Min
0.32

SO

Utilities industry group

0.79

Max
1.71
Q3
1.17
Median
0.87
SO
0.79
Q1
0.66
Min
0.32
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

Constellation Energy (CEG) at 0.76 keeps leverage in the lower quartile, while Southern Company (SO) at 1.82 sits in the higher-leverage quartile.

CEG

Utilities industry group

0.76

Max
2.62
Q3
1.77
Median
1.35
Q1
0.84
CEG
0.76
Min
0.00

SO

Utilities industry group

1.82

Max
2.62
SO
1.82
Q3
1.77
Median
1.35
Q1
0.84
Min
0.00
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
Current Ratio (MRQ)1.460.79
Debt / Equity (MRQ)0.761.82
Net Debt / EBITDA3.025.20

Dividends

Dividend Yield (TTM)

Southern Company (SO) at 3.21% pays a yield in its industry’s typical range, while Constellation Energy (CEG) at 0.58% falls in the bottom quartile of its peers.

CEG

Utilities industry group

0.58%

Max
6.11%
Q3
3.60%
Median
2.73%
Q1
1.42%
CEG
0.58%
Min
0.00%

SO

Utilities industry group

3.21%

Max
6.11%
Q3
3.60%
SO
3.21%
Median
2.73%
Q1
1.42%
Min
0.00%
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

Constellation Energy (CEG) at 15.92% retains more earnings than its industry usually does; Southern Company (SO) at 71.81% distributes an above-typical share — opposite departures from the band, with the risk sitting on SO’s side.

CEG

Utilities industry group

15.92%

Max
108.33%
Q3
71.53%
Median
58.37%
Q1
33.79%
CEG
15.92%
Min
0.00%

SO

Utilities industry group

71.81%

Max
108.33%
SO
71.81%
Q3
71.53%
Median
58.37%
Q1
33.79%
Min
0.00%
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
Dividend Yield (TTM)0.58%3.21%
Dividend Payout Ratio (TTM)15.92%71.81%

Valuation

P/E Ratio (TTM)

Southern Company (SO) at 22.36 is near its industry’s usual P/E ratio, while Constellation Energy (CEG) at 27.24 sits in the richer quartile — CEG needs stronger growth or earnings quality to justify the premium.

CEG

Utilities industry group

27.24

Max
32.88
CEG
27.24
Q3
23.67
Median
20.77
Q1
15.64
Min
5.52

SO

Utilities industry group

22.36

Max
32.88
Q3
23.67
SO
22.36
Median
20.77
Q1
15.64
Min
5.52
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Constellation Energy (CEG) at 3.20 and Southern Company (SO) at 3.54 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CEG

Utilities industry group

3.20

Max
6.26
Q3
3.60
CEG
3.20
Median
2.63
Q1
1.68
Min
0.00

SO

Utilities industry group

3.54

Max
6.26
Q3
3.60
SO
3.54
Median
2.63
Q1
1.68
Min
0.00
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

Both Constellation Energy (CEG) at 3.14 and Southern Company (SO) at 2.70 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

CEG

Utilities industry group

3.14

Max
3.15
CEG
3.14
Q3
2.28
Median
1.89
Q1
1.44
Min
0.35

SO

Utilities industry group

2.70

Max
3.15
SO
2.70
Q3
2.28
Median
1.89
Q1
1.44
Min
0.35
Loading chart…
Constellation Energy (CEG) vs. Southern Company (SO): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for Constellation Energy (CEG) and Southern Company (SO)
MetricCEGSO
P/E Ratio (TTM)27.2422.36
P/S Ratio (TTM)3.203.54
P/B Ratio (MRQ)3.142.70
Free Cash Flow Yield (TTM)-6.62%-3.67%