The Southern Company

Name: The Southern Company financial statements and ratios
Creator: Annalist

SO · NYSE · Utilities, electricity · United States · US GAAP · Fiscal year ends December

Latest report: Q2 FY2026, the quarter ended 30 June 2026, released 30 July 2026. Snapshot FY2026Q2_aa4afafd.

Compare with peers Buyout model Excel JSON

Overview

Revenue, quarter

+0.1% year on year

Operating income, quarter

+0.7% year on year

Net income, quarter

+33.4% year on year

Diluted EPS, quarter

+30.4% year on year

Operating margin, last 4 quarters

−1.2pp year on year

Return on invested capital, last 4 quarters

+0.1pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

Revenue for the quarter ended 30 June 2026 was US$7.0 billion, 0.1% higher than in the same quarter a year earlier.
Weakenedin Q2 FY2026 · stated since Q2 FY20240.1% from 8.0% in Q1 FY2026
Rule: Revenue against a year earlier · Sources 10-Q 2026-06
History of this finding, 9 records
1. Q2 FY2026 WeakenedRevenue for the quarter ended 30 June 2026 was US$7.0 billion, 0.1% higher than in the same quarter a year earlier.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 WeakenedRevenue for the quarter ended 31 March 2026 was US$8.4 billion, 8.0% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q4 FY2025 StrengthenedRevenue for the quarter ended 31 December 2025 was US$7.0 billion, 10.1% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q3 FY2025 ConfirmedRevenue for the quarter ended 30 September 2025 was US$7.8 billion, 7.5% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q2 FY2025 WeakenedRevenue for the quarter ended 30 June 2025 was US$7.0 billion, 7.9% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q1 FY2025 StrengthenedRevenue for the quarter ended 31 March 2025 was US$7.8 billion, 17.0% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q4 FY2024 ConfirmedRevenue for the quarter ended 31 December 2024 was US$6.3 billion, 4.9% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q3 FY2024 WeakenedRevenue for the quarter ended 30 September 2024 was US$7.3 billion, 4.2% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q2 FY2024 NewRevenue for the quarter ended 30 June 2024 was US$6.5 billion, 12.4% higher than in the same quarter a year earlier.Reconstructed · initial
Net income attributable to the company was US$1.2 billion, 33.4% higher than in the same quarter a year earlier.
Strengthenedin Q2 FY2026 · stated since Q1 FY202633.4% from 1.6% in Q1 FY2026
Rule: Net income against a year earlier · Sources 10-Q 2026-06
History of this finding, 15 records
1. Q2 FY2026 StrengthenedNet income attributable to the company was US$1.2 billion, 33.4% higher than in the same quarter a year earlier.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 NewNet income attributable to the company was US$1.4 billion, 1.6% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q1 FY2026 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
4. Q4 FY2025 NewNet income attributable to the company was US$416 million, 22.1% lower than in the same quarter a year earlier.Reconstructed · data update
5. Q4 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
6. Q3 FY2025 NewNet income attributable to the company was US$1.7 billion, 11.5% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q3 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
8. Q2 FY2025 NewNet income attributable to the company was US$880 million, 26.8% lower than in the same quarter a year earlier.Reconstructed · data update
9. Q2 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
10. Q1 FY2025 NewNet income attributable to the company was US$1.3 billion, 18.2% higher than in the same quarter a year earlier.Reconstructed · data update
11. Q1 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
12. Q4 FY2024 NewNet income attributable to the company was US$534 million, 37.5% lower than in the same quarter a year earlier.Reconstructed · data update
13. Q4 FY2024 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
14. Q3 FY2024 WeakenedNet income attributable to the company was US$1.5 billion, 7.9% higher than in the same quarter a year earlier.Reconstructed · data update
15. Q2 FY2024 NewNet income attributable to the company was US$1.2 billion, 43.6% higher than in the same quarter a year earlier.Reconstructed · initial
The operating margin over the last 4 quarters was 24.2%, 1.2 percentage points lower than a year earlier.
Weakenedin Q2 FY2026 · stated since Q2 FY2025
Rule: Operating margin against a year earlier · Sources 10-Q 2025-09, 10-K 2025-12, 10-Q 2026-03 and 1 more
History of this finding, 10 records
1. Q2 FY2026 WeakenedThe operating margin over the last 4 quarters was 24.2%, 1.2 percentage points lower than a year earlier.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 StrengthenedThe operating margin over the last 4 quarters was 24.2%, 2.3 percentage points lower than a year earlier.Reconstructed · data update
3. Q4 FY2025 ConfirmedThe operating margin over the last 4 quarters was 24.7%, 1.8 percentage points lower than a year earlier.Reconstructed · data update
4. Q3 FY2025 StrengthenedThe operating margin over the last 4 quarters was 25.7%, 1.6 percentage points lower than a year earlier.Reconstructed · data update
5. Q2 FY2025 NewThe operating margin over the last 4 quarters was 25.4%, 1.2 percentage points lower than a year earlier.Reconstructed · data update
6. Q2 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
7. Q1 FY2025 WeakenedThe operating margin over the last 4 quarters was 26.5%, 1.7 percentage points higher than a year earlier.Reconstructed · data update
8. Q4 FY2024 WeakenedThe operating margin over the last 4 quarters was 26.4%, 3.4 percentage points higher than a year earlier.Reconstructed · data update
9. Q3 FY2024 ConfirmedThe operating margin over the last 4 quarters was 27.3%, 9.2 percentage points higher than a year earlier.Reconstructed · data update
10. Q2 FY2024 NewThe operating margin over the last 4 quarters was 26.6%, 9.1 percentage points higher than a year earlier.Reconstructed · initial
Return on invested capital over the last 4 quarters was 5.7%, against 5.6% a year earlier.
Newin Q2 FY2026 · first stated
Rule: Return on invested capital against a year earlier · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 3 more
History of this finding, 11 records
1. Q2 FY2026 NewReturn on invested capital over the last 4 quarters was 5.7%, against 5.6% a year earlier.Recorded from FY2026Q2_aa4afafd · data update
2. Q2 FY2026 RetiredThe finding changed to higher than a year earlier.Recorded from FY2026Q2_aa4afafd · data update
3. Q1 FY2026 NewReturn on invested capital over the last 4 quarters was 5.6%, against 5.8% a year earlier.Reconstructed · data update
4. Q4 FY2025 RetiredThe rule did not apply to the figures as at Q4 FY2025.Reconstructed · data update
5. Q3 FY2025 ConfirmedReturn on invested capital over the last 4 quarters was 5.7%, against 6.1% a year earlier.Reconstructed · data update
6. Q2 FY2025 NewReturn on invested capital over the last 4 quarters was 5.6%, against 6.0% a year earlier.Reconstructed · data update
7. Q2 FY2025 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
8. Q1 FY2025 NewReturn on invested capital over the last 4 quarters was 5.8%, against 5.7% a year earlier.Reconstructed · data update
9. Q4 FY2024 RetiredThe rule did not apply to the figures as at Q4 FY2024.Reconstructed · data update
10. Q3 FY2024 ConfirmedReturn on invested capital over the last 4 quarters was 6.1%, against 4.5% a year earlier.Reconstructed · data update
11. Q2 FY2024 NewReturn on invested capital over the last 4 quarters was 6.0%, against 4.5% a year earlier.Reconstructed · initial
Purchases of property, plant and equipment exceeded operating cash flow by US$3.5 billion over the last 4 quarters.
Interpretation. The company spent more on capital expenditure than its operating cash flow, and paid the difference from cash, borrowing or asset sales.
Weakenedin Q2 FY2026 · stated since Q2 FY2025
Rule: Free cash flow · Sources 10-Q 2025-06, 10-Q 2025-09, 10-K 2025-12 and 2 more
History of this finding, 11 records
1. Q2 FY2026 WeakenedPurchases of property, plant and equipment exceeded operating cash flow by US$3.5 billion over the last 4 quarters.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 StrengthenedPurchases of property, plant and equipment exceeded operating cash flow by US$3.7 billion over the last 4 quarters.Reconstructed · data update
3. Q4 FY2025 StrengthenedPurchases of property, plant and equipment exceeded operating cash flow by US$3.2 billion over the last 4 quarters.Reconstructed · data update
4. Q3 FY2025 StrengthenedPurchases of property, plant and equipment exceeded operating cash flow by US$2.0 billion over the last 4 quarters.Reconstructed · data update
5. Q2 FY2025 NewPurchases of property, plant and equipment exceeded operating cash flow by US$1.3 billion over the last 4 quarters.Reconstructed · data update
6. Q2 FY2025 RetiredThe finding changed to negative.Reconstructed · data update
7. Q1 FY2025 WeakenedFree cash flow over the last 4 quarters was US$105 million, and operating cash flow was 2.1 times net income attributable to the company.Reconstructed · data update
8. Q4 FY2024 StrengthenedFree cash flow over the last 4 quarters was US$833 million, and operating cash flow was 2.2 times net income attributable to the company.Reconstructed · data update
9. Q3 FY2024 NewFree cash flow over the last 4 quarters was US$688 million, and operating cash flow was 2.0 times net income attributable to the company.Reconstructed · data update
10. Q3 FY2024 RetiredThe finding changed to positive.Reconstructed · data update
11. Q2 FY2024 NewPurchases of property, plant and equipment exceeded operating cash flow by US$440 million over the last 4 quarters.Reconstructed · initial
Net debt was US$72.6 billion at 30 June 2026, 5.3 times EBITDA over the last 4 quarters.
Confirmedin Q2 FY2026 · stated since Q2 FY2024
Rule: Net debt or net cash · Sources 10-Q 2026-06, 10-Q 2025-06, 10-Q 2025-09 and 2 more
History of this finding, 9 records
1. Q2 FY2026 ConfirmedNet debt was US$72.6 billion at 30 June 2026, 5.3 times EBITDA over the last 4 quarters.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 ConfirmedNet debt was US$73.5 billion at 31 March 2026, 5.5 times EBITDA over the last 4 quarters.Reconstructed · data update
3. Q4 FY2025 ConfirmedNet debt was US$71.0 billion at 31 December 2025, 5.3 times EBITDA over the last 4 quarters.Reconstructed · data update
4. Q3 FY2025 ConfirmedNet debt was US$69.0 billion at 30 September 2025, 5.2 times EBITDA over the last 4 quarters.Reconstructed · data update
5. Q2 FY2025 ConfirmedNet debt was US$68.1 billion at 30 June 2025, 5.3 times EBITDA over the last 4 quarters.Reconstructed · data update
6. Q1 FY2025 ConfirmedNet debt was US$66.3 billion at 31 March 2025, 5.2 times EBITDA over the last 4 quarters.Reconstructed · data update
7. Q4 FY2024 ConfirmedNet debt was US$63.8 billion at 31 December 2024, 5.2 times EBITDA over the last 4 quarters.Reconstructed · data update
8. Q3 FY2024 ConfirmedNet debt was US$62.6 billion at 30 September 2024, 5.0 times EBITDA over the last 4 quarters.Reconstructed · data update
9. Q2 FY2024 NewNet debt was US$62.9 billion at 30 June 2024, 5.2 times EBITDA over the last 4 quarters.Reconstructed · initial

Records before Q2 FY2026 are reconstructed from the latest snapshot. Ledger: findings.json.

Credit, liquidity, earnings quality and score findings: Analysis.

Findings No Longer Stated

Rules whose findings applied in earlier quarters but not in the latest one.

Return on equity against a year earlier · retired in Q1 FY2026
1. Q1 FY2026 RetiredThe rule did not apply to the figures as at Q1 FY2026.Reconstructed · data update
2. Q4 FY2025 NewReturn on equity over the last 4 quarters was 12.5%, against 13.6% a year earlier.Reconstructed · data update
3. Q1 FY2025 RetiredThe rule did not apply to the figures as at Q1 FY2025.Reconstructed · data update
4. Q4 FY2024 NewReturn on equity over the last 4 quarters was 13.6%, against 12.9% a year earlier.Reconstructed · initial

Data

Source documents26 documents, latest Form 10-Q, period ended 30 June 2026List

DownloadsExcel workbook · JSON

SnapshotFY2026Q2_aa4afafd

Corporate Events

No corporate event found in the filings since 2020.

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Operating Income

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Net Debt

Total debt less cash and short-term investments, at quarter end, US dollars

Diluted Earnings per Share

By quarter, as reported

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

The statements are loading. They are also available as JSON and CSV.

Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

The ratios are loading.

Analysis

Credit update

Q2 FY2026

Form 10-Q, period ended 30 June 2026, filed 30 July 2026. Changes are against the previous report, and each figure shows its period.

6changes4thresholds crossed

Changes in This Report 6

WeakenedRevenue Against a Year Earlier10-Q 2026-06
Revenue for the quarter ended 30 June 2026 was US$7.0 billion, 0.1% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Revenue for the quarter ended 31 March 2026 was US$8.4 billion, 8.0% higher than in the same quarter a year earlier.
StrengthenedNet Income Against a Year Earlier10-Q 2026-06
Net income attributable to the company was US$1.2 billion, 33.4% higher than in the same quarter a year earlier.
Earlier record, Q1 FY2026
Net income attributable to the company was US$1.4 billion, 1.6% higher than in the same quarter a year earlier.
WeakenedOperating Margin Against a Year Earlier10-Q 2026-06
The operating margin over the last 4 quarters was 24.2%, 1.2 percentage points lower than a year earlier.
Earlier record, Q1 FY2026
The operating margin over the last 4 quarters was 24.2%, 2.3 percentage points lower than a year earlier.
NewReturn on Invested Capital Against a Year Earlier10-Q 2026-06
Return on invested capital over the last 4 quarters was 5.7%, against 5.6% a year earlier.
Earlier record, Q1 FY2026
Return on invested capital over the last 4 quarters was 5.6%, against 5.8% a year earlier.

2 more changes

WeakenedFree Cash Flow10-Q 2026-06
Purchases of property, plant and equipment exceeded operating cash flow by US$3.5 billion over the last 4 quarters.
Earlier record, Q1 FY2026
Purchases of property, plant and equipment exceeded operating cash flow by US$3.7 billion over the last 4 quarters.
WeakenedLiquidity Cover10-Q 2026-06
Cash, short-term investments and operating cash flow over the last 4 quarters equalled 0.6 times the sum of debt due within 12 months, capital expenditure and dividends.
Earlier record, Q1 FY2026
Cash, short-term investments and operating cash flow over the last 4 quarters equalled 0.5 times the sum of debt due within 12 months, capital expenditure and dividends.

Thresholds Crossed 4

WeakenedFree Cash Flow
Purchases of property, plant and equipment exceeded operating cash flow by US$3.5 billion over the last 4 quarters.
Interpretation. The company spent more on capital expenditure than its operating cash flow, and paid the difference from cash, borrowing or asset sales.
ConfirmedDebt Against the S&P Benchmark Bands
Lease-adjusted debt was 5.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 13.9% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2025.
Interpretation. Debt to EBITDA shows how many years of EBITDA the debt equals, and FFO to debt the share of the debt that 1 year of cash flow after interest and taxes would repay. The S&P table sorts both into 6 bands; the highly leveraged band is number 6 of 6, and a higher number means more debt against earnings.
WeakenedLiquidity Cover
Cash, short-term investments and operating cash flow over the last 4 quarters equalled 0.6 times the sum of debt due within 12 months, capital expenditure and dividends.
Interpretation. Cash on hand and 1 year of operating cash flow fall short of the debt due in the next 12 months, capital expenditure and dividends. The company pays the difference with new borrowing, its undrawn credit lines, asset sales or lower spending.
ConfirmedAltman Z'' Zone
The Altman Z'' score for fiscal 2025 was 0.72, below the distress threshold of 1.10.
Interpretation. By this model, the balance sheet and earnings look like those of companies that went bankrupt in its original study: below 1.10 means distress, above 2.60 safe. Large share buybacks lower book equity and so lower the score.

Fiscal years and the latest quarter, with flows over the last 4 quarters and balances at the quarter end. Select a value for its formula and the figures it uses.

Credit MetricsHighly leveraged bandDebt to EBITDA 5.54x, FFO to debt 13.9% · Q2 FY2026

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt was 5.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 13.9% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2025.
Interpretation. Debt to EBITDA shows how many years of EBITDA the debt equals, and FFO to debt the share of the debt that 1 year of cash flow after interest and taxes would repay. The S&P table sorts both into 6 bands; the highly leveraged band is number 6 of 6, and a higher number means more debt against earnings.
Confirmedin Q2 FY2026 · stated since Q2 FY20245.54x from 5.52x in Q1 FY2026
Rule: Debt against the S&P benchmark bands · Sources 10-Q 2026-06, 10-Q 2025-06, 10-Q 2025-09 and 2 more
History of this finding, 9 records
1. Q2 FY2026 ConfirmedLease-adjusted debt was 5.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 13.9% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2025.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 ConfirmedLease-adjusted debt was 5.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 13.9% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2025.Reconstructed · data update
3. Q4 FY2025 ConfirmedLease-adjusted debt was 5.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 14.2% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band.Reconstructed · data update
4. Q3 FY2025 ConfirmedLease-adjusted debt was 5.5 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 14.1% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2024.Reconstructed · data update
5. Q2 FY2025 ConfirmedLease-adjusted debt was 5.4 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 14.2% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2024.Reconstructed · data update
6. Q1 FY2025 ConfirmedLease-adjusted debt was 5.4 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 14.6% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2024.Reconstructed · data update
7. Q4 FY2024 ConfirmedLease-adjusted debt was 5.3 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 14.8% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band.Reconstructed · data update
8. Q3 FY2024 ConfirmedLease-adjusted debt was 5.1 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 15.1% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2023.Reconstructed · data update
9. Q2 FY2024 NewLease-adjusted debt was 5.3 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 14.7% of that debt. Debt to EBITDA is within the highly leveraged band of the S&P standard volatility table and FFO to debt within the aggressive band. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2023.Reconstructed · initial

Position in the S&P Standard Volatility Table, Last 4 Quarters to Q2 FY2026

S&P sorts companies into 6 bands by debt against earnings and cash flow, from the least debt to the most.

Debt equals 5.5 years of adjusted EBITDA; a year of funds from operations equals 13.9% of it.

Band	Minimal	Modest	Intermediate	Significant	Aggressive	Highly leveraged
Debt to EBITDA	below 1.5x	1.5x to 2x	2x to 3x	3x to 4x	4x to 5x	5.54x5x and above
FFO to debt	60% and above	45% to 60%	30% to 45%	20% to 30%	13.9%12% to 20%	below 12%

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Lease-adjusted debtBorrowings plus the obligations of long-term leases, such as rents of stores, offices and warehouses, which credit analysts count as debt.Total debt + operating lease liabilities
Adjusted EBITDAOperating profit before depreciation, amortisation, goodwill impairment, pay in shares and lease costs: the earnings that credit analysts set against lease-adjusted debt.EBIT + depreciation and amortisation + goodwill impairment + share-based compensation + operating lease cost						est.
Funds from operationsAdjusted EBITDA less interest and tax paid in cash: the cash the business produces each year for investment, dividends and debt repayment.Adjusted EBITDA - cash interest - lease interest - cash taxes						est.
Debt to EBITDALease-adjusted debt measured in years of adjusted EBITDA. A figure of 3 means debt equals 3 years of those earnings; a lower figure means less debt against earnings.Lease-adjusted debt / adjusted EBITDA	highly leveraged	highly leveraged	highly leveraged	highly leveraged	highly leveraged	est.highly leveraged
FFO to debtFunds from operations as a share of lease-adjusted debt. A figure of 25% means a year of those funds equals a quarter of the debt; a higher figure means less debt.Funds from operations / lease-adjusted debt	highly leveraged	aggressive	aggressive	aggressive	aggressive	est.aggressive
Net debt to adjusted EBITDADebt to EBITDA after cash and short-term investments are set against the debt.(Lease-adjusted debt - cash - short-term investments) / adjusted EBITDA						est.
Operating cash flow to debtOperating cash flow, with lease costs added back, as a share of lease-adjusted debt. A higher share means the debt could be repaid sooner from operating cash.Lease-adjusted operating cash flow / lease-adjusted debt						est.
Free operating cash flow to debtOperating cash flow less capital spending, as a share of lease-adjusted debt: the cash left for the debt after the company maintains and expands its assets.(Lease-adjusted operating cash flow - capital expenditure) / lease-adjusted debt						est.
Discretionary cash flow to debtCash left after capital spending, dividends and share repurchases, as a share of lease-adjusted debt. A negative figure means the company paid out more than it generated.(Lease-adjusted operating cash flow - capital expenditure - dividends - repurchases of common stock) / lease-adjusted debt						est.
Retained cash flow to net debtFunds from operations left after dividends, as a share of debt net of cash.(FFO - dividends) / (lease-adjusted debt - cash - short-term investments)						est.
FFO cash interest coverThe number of times cash earnings cover cash interest, lease interest included.(FFO + cash interest + lease interest) / (cash interest + lease interest)						est.
EBITDA interest coverThe number of times adjusted EBITDA covers interest, lease interest included.Adjusted EBITDA / (interest expense + lease interest)						est.
EBITA interest coverOperating profit before the amortisation of acquired intangible assets and goodwill impairment, divided by interest expense.(EBIT + amortisation of intangible assets + goodwill impairment) / interest expense
Liquid assets to debtCash and short-term investments as a share of lease-adjusted debt: the part of the debt that cash on hand could repay at once.(Cash + short-term investments) / lease-adjusted debt

Reconciliation of the Credit Figures

Item	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Total debt	$53.7bn	$57.5bn	$62.0bn	$64.8bn	$72.6bn	$75.6bn
Operating lease liabilities	$1.8bn	$1.6bn	$1.5bn	$1.5bn	$1.5bn	$1.5bn
Lease-adjusted debt	$55.5bn	$59.1bn	$63.5bn	$66.3bn	$74.1bn	$77.1bn
EBIT	$3.7bn	$5.4bn	$5.8bn	$7.1bn	$7.3bn	$7.3bn
Depreciation and amortisation	$4.0bn	$4.1bn	$5.0bn	$5.3bn	$6.0bn	$6.3bn
Goodwill impairment	$0	$0	$0	$0	$0	$0
Share-based compensation	$0	$0	$0	$0	$0	$0
Operating lease cost	$313m	$297m	$252m	$248m	$271m	$271m
Adjusted EBITDA	$8.0bn	$9.7bn	$11.1bn	$12.6bn	$13.6bn	$13.9bn
Cash interest	−$1.7bn	−$1.8bn	−$2.2bn	−$2.5bn	−$2.7bn	−$2.9bn
Lease interest	−$79.5m	−$75.3m	−$72.0m	−$69.6m	−$71.7m	−$73.0m
Cash taxes	−$93.0m	−$146m	−$132m	−$176m	−$284m	−$231m
Funds from operations	$6.1bn	$7.8bn	$8.7bn	$9.8bn	$10.5bn	$10.7bn

Method

Lease-adjusted debt is total debt plus operating lease liabilities, before the deduction of cash. Adjusted EBITDA adds goodwill impairment, share-based compensation and operating lease cost to EBIT and depreciation and amortisation; restructuring and litigation charges, other impairments and profits on disposals stay in EBIT. FFO deducts cash interest, lease interest and cash taxes.
Lease interest is the average operating lease liability times the weighted average discount rate of the leases, or the implied cost of debt where the rate is not reported.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.
Operating lease cost is reported in the annual report only. Over the last 4 quarters, the lease figures that the quarters do not report are estimated from the latest fiscal year, and every value computed with such an estimate is marked.

Liquidity and MaturitiesUses above sourcesLiquidity cover 0.57x, Debt due within 12 months $6.8bn · Q2 FY2026

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends, with the debt maturities of the latest annual report.

Cash, short-term investments and operating cash flow over the last 4 quarters equalled 0.6 times the sum of debt due within 12 months, capital expenditure and dividends.
Interpretation. Cash on hand and 1 year of operating cash flow fall short of the debt due in the next 12 months, capital expenditure and dividends. The company pays the difference with new borrowing, its undrawn credit lines, asset sales or lower spending.
Weakenedin Q2 FY2026 · stated since Q2 FY20240.57x from 0.45x in Q1 FY2026
Rule: Liquidity cover · Sources 10-Q 2026-06, 10-Q 2025-06, 10-Q 2025-09 and 2 more
History of this finding, 9 records
1. Q2 FY2026 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.6 times the sum of debt due within 12 months, capital expenditure and dividends.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.5 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
3. Q4 FY2025 StrengthenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.5 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
4. Q3 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.6 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
5. Q2 FY2025 StrengthenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.5 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
6. Q1 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.7 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
7. Q4 FY2024 StrengthenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.6 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
8. Q3 FY2024 WeakenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.7 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
9. Q2 FY2024 NewCash, short-term investments and operating cash flow over the last 4 quarters equalled 0.6 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · initial

Sources and Uses, Last 4 Quarters to Q2 FY2026

Sources	Amount
Cash and short-term investments	$3.0bn
Operating cash flow	$10.7bn
Sources	$13.6bn

Uses	Amount
Debt due within 12 months	$6.8bn
Capital expenditure	$14.1bn
Dividends paid	$3.1bn
Uses	$24.1bn

Liquidity cover 0.57x

Debt Maturities at 31 December 2025

Principal due by fiscal year, US dollars

FY2026	FY2027	FY2028	FY2029	FY2030	After FY2030	Total
$6.2bn	$3.4bn	$5.5bn	$2.0bn	$4.1bn	n/a	n/a

The report gives no amount for After FY2030, so the schedule has no total.

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Liquidity coverCash on hand plus a year of operating cash flow, against the cash needed in the next 12 months for maturing debt, capital spending and dividends. Above 1, these sources cover the uses without new borrowing.(Cash + short-term investments + operating cash flow) / (debt due within 12 months + capital expenditure + dividends); the flows of the fiscal year or of the last 4 quarters are taken as those of the next 12 months, and undrawn facilities are not included
Debt due within 12 monthsBorrowings due within the next 12 months, which the company must repay or refinance.The larger of long-term debt maturing within 12 months in the maturity schedule and the current portion of long-term debt, + short-term borrowings
Maturity concentrationThe largest amount of debt due in a single year of the next 5, as a share of the debt in the schedule. A high share means the repayments are concentrated in 1 year.Largest single year of debt maturing within 5 years / total debt in the maturity schedule						n/a

Method

Debt due within 12 months is the larger of the first year of the maturity schedule and the current portion of long-term debt, plus short-term borrowings. The schedule of a quarterly report can cover the rest of the fiscal year only and leaves out finance leases.
Capital expenditure and dividends of the fiscal year, or of the last 4 quarters, are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityCash-flow accruals −3.9%, Operating cash flow to EBITDA 0.78x · Q2 FY2026

Accruals and the cash backing of reported earnings.

Operating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.9% of average total assets.
Interpretation. The profit came in as cash: operating cash flow was larger than net income. Profit backed by cash tends to repeat more than profit made of accounting entries (Sloan, 1996).
Confirmedin Q2 FY2026 · stated since Q2 FY2024−3.9% from −3.5% in Q1 FY2026
Rule: Cash backing of earnings · Sources 10-Q 2025-06, 10-Q 2026-06, 10-Q 2025-09 and 2 more
History of this finding, 9 records
1. Q2 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.9% of average total assets.Recorded from FY2026Q2_aa4afafd · data update
2. Q1 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.5% of average total assets.Reconstructed · data update
3. Q4 FY2025 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.6% of average total assets.Reconstructed · data update
4. Q3 FY2025 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.3% of average total assets.Reconstructed · data update
5. Q2 FY2025 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.4% of average total assets.Reconstructed · data update
6. Q1 FY2025 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.6% of average total assets.Reconstructed · data update
7. Q4 FY2024 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.8% of average total assets.Reconstructed · data update
8. Q3 FY2024 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.3% of average total assets.Reconstructed · data update
9. Q2 FY2024 NewOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 2.9% of average total assets.Reconstructed · initial

Net Income and Operating Cash Flow

Last 4 quarters at each quarter end, US dollars

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025	Q2 FY2026latest quarter
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Balance sheet accrualsThe same gap between profit and cash, measured from the changes in the balance sheet (Sloan, 1996).[(Change in current assets - change in cash) - (change in current liabilities - change in short-term debt - change in taxes payable) - depreciation and amortisation] / average total assets (Sloan, 1996)
Total accrualsAccruals that also cover long-term operating and financial assets and liabilities (Richardson, Sloan, Soliman and Tuna, 2005). Acquisitions raise the figure.Change in net operating working capital, net non-current operating assets and net financial assets / average total assets (Richardson, Sloan, Soliman and Tuna, 2005)
Operating cash flow to EBITDAOperating cash flow against EBITDA: the part of operating profit before depreciation that turns into cash after interest, tax and changes in stock, receivables and payables.Operating cash flow / (operating income + depreciation and amortisation)
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company
Working capital investment to revenueCash put into receivables and stock, less extra credit from suppliers and customers, as a share of revenue. A positive figure means growth or slower collection uses cash.(Increase in receivables + increase in inventories - increase in payables - increase in contract liabilities) / revenue

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresDistress zoneAltman Z'' 0.72, Piotroski 4 of 9 · Last 4 quarters 0.72 at Q4 FY2025 · FY2025

Published distress and misstatement models, with their original coefficients and thresholds.

The Altman Z'' score for fiscal 2025 was 0.72, below the distress threshold of 1.10.
Interpretation. By this model, the balance sheet and earnings look like those of companies that went bankrupt in its original study: below 1.10 means distress, above 2.60 safe. Large share buybacks lower book equity and so lower the score.
Confirmedin FY2025 · stated since FY20230.72 from 0.75 in FY2024
Rule: Altman Z'' zone · Sources 10-Q 2026-06, 10-K 2025-12
History of this finding, 3 records
1. FY2025 ConfirmedThe Altman Z'' score for fiscal 2025 was 0.72, below the distress threshold of 1.10.Reconstructed · data update
2. FY2024 ConfirmedThe Altman Z'' score for fiscal 2024 was 0.75, below the distress threshold of 1.10.Reconstructed · data update
3. FY2023 NewThe Altman Z'' score for fiscal 2023 was 0.79, below the distress threshold of 1.10.Reconstructed · initial
The Piotroski F-score for fiscal 2025 was 4 of 9. The 5 signals not met were return on assets higher than a year earlier, long-term debt to assets lower than a year earlier, current ratio higher than a year earlier, no common equity issued and margin higher than a year earlier.
Interpretation. The score counts how many of 9 tests of profit, debt, liquidity and efficiency the company passes. A score of 4 to 6 is the middle group: Piotroski (2000) placed 7 to 9 in the strongest group and 0 to 3 in the weakest.
Newin FY2025 · first stated
Rule: Piotroski F-score · Sources 10-K 2024-12, 10-K 2025-12, 10-Q 2026-06
History of this finding, 5 records
1. FY2025 NewThe Piotroski F-score for fiscal 2025 was 4 of 9. The 5 signals not met were return on assets higher than a year earlier, long-term debt to assets lower than a year earlier, current ratio higher than a year earlier, no common equity issued and margin higher than a year earlier.Reconstructed · data update
2. Q4 FY2025 RetiredThe finding changed to a middle score.Reconstructed · data update
3. FY2024 NewThe Piotroski F-score for fiscal 2024 was 7 of 9. The 2 signals not met were current ratio higher than a year earlier and no common equity issued.Reconstructed · data update
4. Q4 FY2024 RetiredThe finding changed to a high score.Reconstructed · data update
5. FY2023 NewThe Piotroski F-score for fiscal 2023 was 6 of 9. The 3 signals not met were long-term debt to assets lower than a year earlier, no common equity issued and asset turnover higher than a year earlier.Reconstructed · initial

By Fiscal Year

Ratio	FY202131 Dec 2021	FY202231 Dec 2022	FY202331 Dec 2023	FY202431 Dec 2024	FY202531 Dec 2025
Altman Z'' scoreA measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.6.56 x working capital / total assets + 3.26 x retained earnings / total assets + 6.72 x EBIT / total assets + 1.05 x total equity / total liabilities (Altman, 1995); distress zone below 1.10, safe zone above 2.60	distress zone	distress zone	distress zone	distress zone	distress zone
Piotroski F-scoreA count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.Number of 9 binary signals met on profitability, cash flow, debt, liquidity, equity issuance, margin and asset turnover (Piotroski, 2000)	n/a

Altman Z'' Score

fiscal 2025

A measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.

0.72Distress zone, below 1.10

Grey zone, 1.10 to 2.60

Safe zone, above 2.60

The score of 0.72 is in the distress zone of the model, below 1.10. The largest part is equity against liabilities, at 0.35; working capital below zero lowers the score by 0.25.

Part	Value	Coefficient	Contribution
Working capital / total assetsCurrent assets less current liabilities, against total assets: the short-term funds available for operations.	−0.038	6.560	−0.252
Retained earnings / total assetsProfits kept in the business over its life, against total assets.	0.095	3.260	0.311
EBIT / total assetsOperating profit against total assets: the earning power of the assets.	0.047	6.720	0.314
Total equity / total liabilitiesBook equity against liabilities: how far the assets could fall in value before liabilities exceed them.	0.333	1.050	0.349
Score			0.723

Altman, Hartzell and Peck (1995), for non-manufacturing companies. The model omits the ratio of sales to total assets of the 1968 model and uses book equity. Working capital below zero and equity reduced by share repurchases lower the score.

Piotroski F-score

fiscal 2025

A count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.

4 of the 9 tests are met, in the middle group of 4 to 6.

Signal	FY2025	FY2024
Return on assets above zero	Met	Met
Operating cash flow above zero	Met	Met
Return on assets higher than a year earlier	Not met	Met
Operating cash flow above net income	Met	Met
Long-term debt to assets lower than a year earlier	Not met	Met
Current ratio higher than a year earlier	Not met	Not met
No common equity issued	Not met	Not met
Margin higher than a year earlier	Not met	Met
Asset turnover higher than a year earlier	Met	Met

Piotroski (2000), 9 signals on profitability, funding and operating efficiency, designed for companies with high book-to-market ratios. Piotroski grouped scores of 8 and 9 as high and 0 and 1 as low; the findings group 7 to 9 and 0 to 3.

Source Documents

Documents of this snapshot, latest first.

Document	Date	Id
Form 10-Q, period ended 30 June 2026	30 Jul 2026	10-Q:0000092122-26-000054
Form 10-Q, period ended 31 March 2026	30 Apr 2026	10-Q:0000092122-26-000034
Form 10-K, period ended 31 December 2025	19 Feb 2026	10-K:0000092122-26-000006
Form 10-Q, period ended 30 September 2025	30 Oct 2025	10-Q:0000092122-25-000084
Form 10-Q, period ended 30 June 2025	31 Jul 2025	10-Q:0000092122-25-000076
Form 10-Q, period ended 31 March 2025	1 May 2025	10-Q:0000092122-25-000042
Form 10-K, period ended 31 December 2024	20 Feb 2025	10-K:0000092122-25-000018
Form 10-Q, period ended 30 September 2024	31 Oct 2024	10-Q:0000092122-24-000089
Form 10-Q, period ended 30 June 2024	1 Aug 2024	10-Q:0000092122-24-000075
Form 10-Q, period ended 31 March 2024	2 May 2024	10-Q:0000092122-24-000042
Form 10-K, period ended 31 December 2023	15 Feb 2024	10-K:0000092122-24-000009
Form 10-Q, period ended 30 September 2023	2 Nov 2023	10-Q:0000092122-23-000101
Form 10-Q, period ended 30 June 2023	3 Aug 2023	10-Q:0000092122-23-000070
Form 10-Q, period ended 31 March 2023	27 Apr 2023	10-Q:0000092122-23-000028
Form 10-K, period ended 31 December 2022	16 Feb 2023	10-K:0000092122-23-000012
Form 10-Q, period ended 30 September 2022	27 Oct 2022	10-Q:0000092122-22-000064
Form 10-Q, period ended 30 June 2022	28 Jul 2022	10-Q:0000092122-22-000039
Form 10-Q, period ended 31 March 2022	28 Apr 2022	10-Q:0000092122-22-000014
Form 10-K, period ended 31 December 2021	17 Feb 2022	10-K:0000092122-22-000003
Form 10-Q, period ended 30 September 2021	4 Nov 2021	10-Q:0000092122-21-000092
Form 10-Q, period ended 30 June 2021	29 Jul 2021	10-Q:0000092122-21-000064
Form 10-Q, period ended 31 March 2021	29 Apr 2021	10-Q:0000092122-21-000037
Form 10-K, period ended 31 December 2020	18 Feb 2021	10-K:0000092122-21-000006
Form 10-Q, period ended 30 September 2020	29 Oct 2020	10-Q:0000092122-20-000085
Form 10-Q, period ended 30 June 2020	30 Jul 2020	10-Q:0000092122-20-000057
Form 10-Q, period ended 31 March 2020	30 Apr 2020	10-Q:0000092122-20-000042

Checks

298287 of 298 checks passed, 11 warnings

Fiscal calendar68 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.

Quarters and fiscal year127 of 130 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level; a difference that a later report explains is a warning, which does not stop publication.

Purchases of property, plant and equipment, FY2020: $7,441m against $7,522m

Increase in receivables, FY2021: $81.0m against $77.0m

Purchases of property, plant and equipment, FY2025: $12,956m against $12,737m

Reported quarters0 of 2 passedA quarter that a filing reports on its own agrees with the figures of the same filing. Checked at warning level.

Income before income taxes, Q3 FY2020: $1,576m against $1,578m

Net income including noncontrolling interests, Q3 FY2020: $1,283m against $1,285m

Filer identity1 passedThe documents are those of the company of this page. Checked at error level.

Balance sheet identity26 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Balance sheet structure26 passedTotal assets equal liabilities, temporary equity and total equity. Checked at warning level.

Lease liabilities6 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.

Debt maturities0 of 6 passedThe debt maturity schedule adds up to the long-term debt. Checked at warning level.

31 Dec 2020: $12,044m against $48,580m

31 Dec 2021: $13,097m against $52,277m

31 Dec 2022: $14,072m against $54,941m

31 Dec 2023: $15,082m against $59,686m

31 Dec 2024: $17,411m against $63,486m

31 Dec 2025: $21,178m against $71,869m

Quarters and 9 months15 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.

Earnings per share6 passedNet income divided by average shares agrees with reported basic earnings per share. Checked at warning level.

Interest and debt6 passedInterest expense of a fiscal year is between 0.5% and 15% of the average total debt at its opening and closing dates, so that the debt captured carries the interest reported. Checked at warning level.

Primary statements6 passedEach key figure of the latest fiscal year is a line of the income statement, the balance sheet or the cash flow statement of the annual report. Checked at warning level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	1,413
Confirmed by other figures	53.1%, 751 values
Confirmed by a second document	0.0%, 0 values
Derived from reported figures	20.7%, 292 values
Values withheld	0
Restated figures tracked	13
Changes compared on one basis	0
Company lines mapped	0 of 0 reviewed

Citation

Annalist, The Southern Company, snapshot southern-company/FY2026Q2_aa4afafd (as of FY2026 Q2); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026Q2_aa4afafd · dataset SHA-256 aa4afafdcf9a0402f3e172aaf67230bbe1b01a8e805efa166f397aea89a94570 · findings rules 0.5

Data: info.json · dataset.json · validation.json · documents.json