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Side-by-side financial comparison of NUSCALE POWER Corp (SMR) and Southern Company (SO), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Southern Company is the larger business by last-quarter revenue ($7.0B vs $1.8M, roughly 3861.7× NUSCALE POWER Corp). Southern Company runs the higher net margin — -2811.3% vs 4.9%, a 2816.2% gap on every dollar of revenue. On growth, Southern Company posted the faster year-over-year revenue change (10.1% vs -94.7%). Over the past eight quarters, NUSCALE POWER Corp's revenue compounded faster (14.5% CAGR vs 2.5%).
NuScale Power Corporation is a publicly traded American company that designs and markets small modular reactors (SMRs). It is headquartered in Tigard, Oregon. The company's VOYGR power plant, which uses 50 MWe modules and scales to 12 modules, was the first SMR to be certified by the US Nuclear Regulatory Commission (NRC) (2022). The newer 77 MWe module designs, known as the VOYGR-4 and VOYGR-6, were submitted for NRC review on January 1, 2023, and approved May 29, 2025. NuScale is now seekin...
Southern Company is an American gas and electric utility holding company based in the Southern United States. It is headquartered in Atlanta, Georgia, with executive offices located in Birmingham, Alabama. As of 2021 it is the second largest utility company in the U.S. in terms of customer base. Through its subsidiaries it serves 9 million gas and electric utility customers in 6 states. Southern Company's regulated regional electric utilities serve a 120,000-square-mile (310,000 km2) territor...
SMR vs SO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.8M | $7.0B |
| Net Profit | $-50.8M | $341.0M |
| Gross Margin | -3.4% | — |
| Operating Margin | -4022.2% | 13.1% |
| Net Margin | -2811.3% | 4.9% |
| Revenue YoY | -94.7% | 10.1% |
| Net Profit YoY | 32.2% | -26.8% |
| EPS (diluted) | $-0.08 | $0.38 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $1.8M | $7.0B | ||
| Q3 25 | $8.2M | $7.8B | ||
| Q2 25 | $8.1M | $7.0B | ||
| Q1 25 | $13.4M | $7.8B | ||
| Q4 24 | $34.2M | $6.3B | ||
| Q3 24 | $475.0K | $7.3B | ||
| Q2 24 | $967.0K | $6.5B | ||
| Q1 24 | $1.4M | $6.6B |
| Q4 25 | $-50.8M | $341.0M | ||
| Q3 25 | $-273.3M | $1.7B | ||
| Q2 25 | $-17.6M | $880.0M | ||
| Q1 25 | $-14.0M | $1.3B | ||
| Q4 24 | $-75.0M | $466.0M | ||
| Q3 24 | $-17.5M | $1.5B | ||
| Q2 24 | $-27.6M | $1.2B | ||
| Q1 24 | $-16.6M | $1.1B |
| Q4 25 | -3.4% | — | ||
| Q3 25 | 32.9% | — | ||
| Q2 25 | 22.1% | — | ||
| Q1 25 | 52.4% | — | ||
| Q4 24 | 91.1% | — | ||
| Q3 24 | 37.9% | — | ||
| Q2 24 | 12.1% | — | ||
| Q1 24 | 46.7% | — |
| Q4 25 | -4022.2% | 13.1% | ||
| Q3 25 | -6532.9% | 33.2% | ||
| Q2 25 | -534.9% | 25.3% | ||
| Q1 25 | -264.1% | 25.9% | ||
| Q4 24 | -34.6% | 16.7% | ||
| Q3 24 | -8635.6% | 32.6% | ||
| Q2 24 | -4330.7% | 30.0% | ||
| Q1 24 | -3188.8% | 25.6% |
| Q4 25 | -2811.3% | 4.9% | ||
| Q3 25 | -3316.2% | 21.9% | ||
| Q2 25 | -219.0% | 12.6% | ||
| Q1 25 | -104.7% | 16.3% | ||
| Q4 24 | -219.1% | 7.3% | ||
| Q3 24 | -3675.6% | 21.1% | ||
| Q2 24 | -2855.9% | 18.6% | ||
| Q1 24 | -1201.7% | 16.1% |
| Q4 25 | $-0.08 | $0.38 | ||
| Q3 25 | $-1.85 | $1.54 | ||
| Q2 25 | $-0.13 | $0.79 | ||
| Q1 25 | $-0.11 | $1.21 | ||
| Q4 24 | $-0.77 | $0.48 | ||
| Q3 24 | $-0.18 | $1.39 | ||
| Q2 24 | $-0.31 | $1.09 | ||
| Q1 24 | $-0.21 | $1.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $1.6B |
| Total DebtLower is stronger | — | $65.6B |
| Stockholders' EquityBook value | $1.2B | $36.0B |
| Total Assets | $1.4B | $155.7B |
| Debt / EquityLower = less leverage | — | 1.82× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $691.8M | $3.3B | ||
| Q2 25 | $420.7M | $1.3B | ||
| Q1 25 | $521.4M | $2.3B | ||
| Q4 24 | $441.6M | $1.1B | ||
| Q3 24 | $156.6M | $1.0B | ||
| Q2 24 | $130.9M | $1.2B | ||
| Q1 24 | $132.0M | $713.0M |
| Q4 25 | — | $65.6B | ||
| Q3 25 | — | $64.6B | ||
| Q2 25 | — | $63.0B | ||
| Q1 25 | — | $62.9B | ||
| Q4 24 | — | $58.8B | ||
| Q3 24 | — | $61.3B | ||
| Q2 24 | — | $59.9B | ||
| Q1 24 | — | $59.4B |
| Q4 25 | $1.2B | $36.0B | ||
| Q3 25 | $828.7M | $38.3B | ||
| Q2 25 | $692.9M | $37.3B | ||
| Q1 25 | $704.0M | $37.2B | ||
| Q4 24 | $618.7M | $33.2B | ||
| Q3 24 | $160.1M | $36.9B | ||
| Q2 24 | $136.3M | $36.1B | ||
| Q1 24 | $125.1M | $35.6B |
| Q4 25 | $1.4B | $155.7B | ||
| Q3 25 | $883.1M | $153.2B | ||
| Q2 25 | $606.5M | $148.9B | ||
| Q1 25 | $618.1M | $148.1B | ||
| Q4 24 | $544.7M | $145.2B | ||
| Q3 24 | $253.3M | $144.0B | ||
| Q2 24 | $229.2M | $141.9B | ||
| Q1 24 | $229.8M | $140.1B |
| Q4 25 | — | 1.82× | ||
| Q3 25 | — | 1.69× | ||
| Q2 25 | — | 1.69× | ||
| Q1 25 | — | 1.69× | ||
| Q4 24 | — | 1.77× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.66× | ||
| Q1 24 | — | 1.67× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-203.7M | $2.6B |
| Free Cash FlowOCF − Capex | — | $-1.7B |
| FCF MarginFCF / Revenue | — | -24.2% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | — | 61.4% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 7.62× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-2.9B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-203.7M | $2.6B | ||
| Q3 25 | $-199.8M | $3.8B | ||
| Q2 25 | $-33.3M | $2.2B | ||
| Q1 25 | $-22.8M | $1.3B | ||
| Q4 24 | $-26.4M | $2.2B | ||
| Q3 24 | $-12.7M | $3.6B | ||
| Q2 24 | $-36.0M | $2.7B | ||
| Q1 24 | $-33.5M | $1.3B |
| Q4 25 | — | $-1.7B | ||
| Q3 25 | $-199.9M | $559.0M | ||
| Q2 25 | — | $-619.0M | ||
| Q1 25 | $-22.9M | $-1.2B | ||
| Q4 24 | $-26.5M | $-576.0M | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $563.0M | ||
| Q1 24 | — | $-459.0M |
| Q4 25 | — | -24.2% | ||
| Q3 25 | -2425.1% | 7.1% | ||
| Q2 25 | — | -8.9% | ||
| Q1 25 | -170.9% | -15.3% | ||
| Q4 24 | -77.3% | -9.1% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | -6.9% |
| Q4 25 | — | 61.4% | ||
| Q3 25 | 0.9% | 41.1% | ||
| Q2 25 | — | 40.2% | ||
| Q1 25 | 0.5% | 31.3% | ||
| Q4 24 | 0.1% | 43.4% | ||
| Q3 24 | 0.0% | 31.8% | ||
| Q2 24 | 0.0% | 32.9% | ||
| Q1 24 | 0.0% | 26.6% |
| Q4 25 | — | 7.62× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.48× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 4.66× | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 2.23× | ||
| Q1 24 | — | 1.22× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
SMR
Segment breakdown not available.
SO
| Other | $3.9B | 57% |
| Retail Electric Commercial | $1.6B | 23% |
| Natural Gas Distribution Residential | $689.0M | 10% |
| Natural Gas Distribution Transportation | $371.0M | 5% |
| Wholesale Non Affiliates | $123.0M | 2% |
| Natural Gas Distribution Other | $76.0M | 1% |
| Wholesale Electric Non PPA Revenues | $62.0M | 1% |
| Wholesale Affiliates | $55.0M | 1% |
| Retail Electric Other | $31.0M | 0% |
| Alternative Energy | $20.0M | 0% |
| Natural Gas Distribution Industrial | $15.0M | 0% |
