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NRG Energy vs Southern: NRG and SO compared
NRG Energy is the larger company: $9.5B of revenue in its latest quarter (Q3 2026) against $8.8B for Southern (Q3 2026). NRG Energy is growing faster (+24% against +13% a year earlier). Southern is more profitable, with an operating margin of 33.9% against 11.5%.
Where the money goes: NRG and SO
NRG Energy (NRG) · Q3 2026
NRG Energy, Q3 2026: revenue $9.5B (+24% year over year), operating margin 11.5%, net earnings $544M. The chart follows the revenue to costs, profit and cash.
Southern (SO) · Q3 2026
Southern, Q3 2026: revenue $8.8B (+13% year over year), operating margin 33.9%, net earnings $2.0B. The chart follows the revenue to costs, profit and cash.
| NRG Energy (NRG) | Southern (SO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $9.5B | $8.8B |
| Revenue growth, Y/Y | +24% | +13% |
| Operating margin | 11.5% | 33.9% |
| Net earnings | $544M | $2.0B |
| Net margin | 5.7% | 23.1% |
| Market value | $17.1B | $105.3B |
| P/E | 20.1× | 24.8× |
| Analysts’ mean target | $166.94 | $96.10 |
Where the revenue comes from
Southern
- Non-fuel: $5.1B (58%)
- Fuel: $1.5B (17%)
- Wholesale electric revenues: $873M (10%)
- Natural gas revenues: $773M (9%)
Questions
Which is bigger, NRG Energy or Southern?
NRG Energy is the larger company: $9.5B of revenue in its latest quarter (Q3 2026) against $8.8B for Southern (Q3 2026).
Is NRG Energy or Southern growing faster?
NRG Energy is growing faster (+24% against +13% a year earlier).
Which is more profitable, NRG Energy or Southern?
Southern is more profitable, with an operating margin of 33.9% against 11.5%.
More: NRG Energy earnings · how NRG Energy makes money · Southern earnings · how Southern makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 9, 2026; 8-K filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.