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STOCK COMPARISON

Constellation Energy vs Southern Company (The) Series 2: Fair Value & Quality

Both stocks run through our valuation models. Here is how Constellation Energy (CEG) and Southern Company (The) Series 2 (SOJE) compare, as of Aug 16, 2026.

As of Aug 16, 2026, Fair Value Calculator sees Southern Company (The) Series 2 as the more attractively valued of the two: Constellation Energy trades at $283 versus a fair value of $88.09 (-69%), while Southern Company (The) Series 2 trades at $16.19 versus $16.36 (+1%).
Constellation Energy
CEG · USD · Utilities
-69%
upside to fair value
overvalued
Price$283
Fair Value$88.09
Quality55/100
Southern Company (The) Series 2
SOJE · USD · Utilities
+1%
upside to fair value
fairly valued
Price$16.19
Fair Value$16.36
Quality44/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Constellation EnergySouthern Company (The) Series 2
Valuation
22.4×P/E (TTM)
3.08×P/S (TTM)
6.34×P/B1.82×
12.0×EV/EBITDA7.6×
3.74×PEG
0.6%Dividend yield5.9%
$1.59Dividend per share
Profitability
13%Net margin0%
22%Operating margin0%
16%Return on equity12%
4%Return on assets0%
Growth
64%Revenue growth (YoY)0%
1.5%Avg. growth/yr (3Y)0.3%
7.7%Avg. growth/yr (5Y)7.7%
Balance & size
0.50×Debt / equity1.25×
$92BMarket cap$66B
healthyGrowth qualityexpensive

Constellation Energy leads: 7 to 3 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Constellation Energyof which business quality 52 · market factors 33 Southern Company (The) Series 2of which business quality 41 · market factors 47
ProfitabilityMargins and returns on capital today
46
32
Quality GrowthAre margins and returns improving?
43
38
CashflowEarnings quality: real cash, not paper profit
46
50
Fin. StrengthBalance sheet, leverage, solvency risk
43
17
InvestmentDisciplined investing over empire-building
55
49
Low VolatilityCalm price path (market factor)
40
100
MomentumPrice trend over the last 3–12 months (market factor)
33
32
52W MomentumDistance to the 52-week high (market factor)
24
13
Net IssuanceBuybacks instead of dilution
90
71

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Constellation Energy

DCF Models$83.63
Earnings-Based$49.28
Dividend Discount$20.92
Multiples$114
Asset-Based$27.24
Growth DCF$68.37
Economic Profit$54.87
Growth Earnings$97.35

25 of 25 models see the stock below the current price.

Southern Company (The) Series 2

Earnings-Based$6.99
Multiples$17.20
Asset-Based$5.94
Economic Profit$8.38
Growth Earnings$16.31

7 of 13 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Constellation Energy
Bear $50.22Fair Value $88.09Bull $131
$283 = current price (white tick)
Southern Company (The) Series 2
Bear $10.19Fair Value $16.36Bull $21.27
$16.19 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Constellation Energy · Utilities

Quality score55 · Top 25%
Fair value upside-69% · bottom 25%

Southern Company (The) Series 2 · Utilities

Quality score44 · below median
Fair value upside+1% · above median

Bottom line

As of Aug 16, 2026, Fair Value Calculator sees Southern Company (The) Series 2 as the more attractively valued of the two: Constellation Energy trades at $283 versus a fair value of $88.09 (-69%), while Southern Company (The) Series 2 trades at $16.19 versus $16.36 (+1%).

Constellation Energy has the higher quality score (55/100).

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.