CONSTELLATION ENERGY CORPORATION vs SOUTHERN CO, two Utilities stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Constellation Energy sells power from a merchant and nuclear fleet into wholesale markets, so its earnings ride electricity prices rather than a regulator's approved return. Southern Company is a regulated electric utility, earning a set return on its rate base and paying most of it out. That shows in the dividend: Southern yields 3.03 percent, Constellation almost nothing at 0.15, because Constellation retains cash rather than distributing it. Constellation carries much less debt, 0.65 to equity against Southern's heavier balance sheet, and earns a hair more, 11.21 percent return on equity to 10.93. Southern is larger at 109.4 billion versus 93.5 and asks the higher earnings multiple, 24.81 against 22.95.
Comparison updated 2026-07-11.
| Metric | CEG | SO |
|---|---|---|
| Price | $251.34 | $95.61 |
| Market cap | $89.0B | $107.8B |
| Sector | Utilities | Utilities |
| Stage | Growth | Growth |
| Implied growth (priced in) | +20.3% | — |
| P/E | 21.8 | 24.4 |
| P/B | 2.63 | 2.70 |
| P/S | 2.98 | 3.57 |
| EV/EBITDA | 20.4 | 14.9 |
| Revenue growth | +22.1% | +8.6% |
| Operating margin | 21.0% | 24.0% |
| Net margin | 12.7% | 14.5% |
| Return on equity | 11.2% | 10.9% |
| Return on assets | 3.9% | 2.8% |
| Return on invested capital | 7.0% | 15.0% |
| FCF yield | 1.3% | -3.2% |
| Dividend yield | 0.1% | 3.1% |
| Debt / equity | 0.65 | 0.04 |
| Current ratio | 1.36 | 0.65 |
| Altman Z (solvency) | 1.40 | 0.75 |
| Piotroski F (quality) | 5 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.