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GPJA

Georgia Power Company 5% JR SUB NT 77

GPJA

Georgia Power Company 5% JR SUB NT 77 • NYSE
$22.97 ▼ -0.73% (-0.17)
Market Cap $212.74 M
52w High $24.00
52w Low $20.29
Dividend Yield 1.25%
P/E 0.14
Volume 11.41K
Outstanding Shares 9.26M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.823B ▲ $3.509B ▲ $1.711B ▲ 21.871% ▲ $1.55 ▼ $4.288B ▲
Q2-2025 $3.11B ▲ $685M ▼ $607M ▼ 19.518% ▼ $65.54 ▲ $1.569B ▼
Q1-2025 $3.037B ▲ $5.765B ▼ $1.334B ▲ 43.925% ▲ $64.35 ▲ $2.122B ▲
Q4-2024 $2.586B ▼ $9.166B ▲ $975M ▼ 37.703% ▼ $32.67 ▼ $2.062B ▼
Q3-2024 $3.472B $639M $1.535B 44.211% $165.74 $2.43B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $0 ▼ $0 ▼ $114.974B ▲ $38.274B ▲
Q2-2025 $94M ▼ $63.851B ▲ $111.511B ▲ $37.342B ▲
Q1-2025 $383M ▲ $62.66B ▲ $110.886B ▲ $37.223B ▲
Q4-2024 $97M ▲ $61.255B ▲ $37.574B ▲ $23.681B ▲
Q3-2024 $43M $60.498B $36.827B $23.671B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.707B ▼ $3.774B ▲ $-3.865B ▼ $2.168B ▲ $2.077B ▲ $5.203B ▲
Q2-2025 $2.068B ▲ $1.03B ▲ $-1.499B ▼ $180M ▲ $1.22B ▲ $3.442B ▲
Q1-2025 $55M ▼ $-11M ▼ $-44M ▲ $87M ▼ $32M ▼ $-11M ▲
Q4-2024 $466M ▼ $2.173B ▲ $-2.722B ▼ $595M ▲ $46M ▲ $-301M ▼
Q3-2024 $2.595B $2.001B $-1.288B $-756M $-43M $8.048B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Natural Gas Distribution
Natural Gas Distribution
 $1.79Bn ▲$1.58Bn ▼$890.00M ▼$670.00M ▼
Natural Gas Distribution Commercial
Natural Gas Distribution Commercial
 $190.00M ▲$200.00M ▲$90.00M ▼$70.00M ▼
Natural Gas Distribution Industrial
Natural Gas Distribution Industrial
 $10.00M ▲$20.00M ▲$10.00M ▼$0 ▼
Natural Gas Distribution Other
Natural Gas Distribution Other
 $160.00M ▲$110.00M ▼$60.00M ▼$50.00M ▼
Natural Gas Distribution Residential
Natural Gas Distribution Residential
 $800.00M ▲$840.00M ▲$390.00M ▼$240.00M ▼
Natural Gas Distribution Transportation
Natural Gas Distribution Transportation
 $640.00M ▲$410.00M ▼$330.00M ▼$320.00M ▼
Other Natural Gas
Other Natural Gas
 $230.00M ▲$260.00M ▲$90.00M ▼$60.00M ▼
Other Natural Gas Gas Marketing Services
Other Natural Gas Gas Marketing Services
 $220.00M ▲$260.00M ▲$80.00M ▼$60.00M ▼
Other Natural Gas Other Natural Gas Revenues
Other Natural Gas Other Natural Gas Revenues
 $10.00M ▲$0 ▼$10.00M ▲$0 ▼
Other Revenue Sources
Other Revenue Sources
 $290.00M ▲$100.00M ▼$240.00M ▲$200.00M ▼
Other Revenues
Other Revenues
 $900.00M ▲$80.00M ▼$460.00M ▲$400.00M ▼
Retail Electric
Retail Electric
 $8.79Bn ▲$2.71Bn ▼$4.78Bn ▲$6.04Bn ▲
Retail Electric Commercial
Retail Electric Commercial
 $3.12Bn ▲$480.00M ▼$1.72Bn ▲$2.07Bn ▲
Retail Electric Industrial
Retail Electric Industrial
 $1.84Bn ▲$390.00M ▼$1.01Bn ▲$1.20Bn ▲
Retail Electric Other
Retail Electric Other
 $60.00M ▲$0 ▼$30.00M ▲$30.00M ▲
Retail Electric Residential
Retail Electric Residential
 $3.77Bn ▲$70.00M ▼$2.02Bn ▲$2.74Bn ▲
Wholesale Electric NonPPA Revenues
Wholesale Electric NonPPA Revenues
 $180.00M ▲$70.00M ▼$100.00M ▲$150.00M ▲
Wholesale Electric PPA Capacity Revenues
Wholesale Electric PPA Capacity Revenues
 $300.00M ▲$30.00M ▼$150.00M ▲$180.00M ▲
Wholesale Electric PPA Energy Revenues
Wholesale Electric PPA Energy Revenues
 $490.00M ▲$0 ▼$310.00M ▲$370.00M ▲
Wholesale Electric Revenues
Wholesale Electric Revenues
 $890.00M ▲$150.00M ▼$520.00M ▲$660.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Georgia Power’s earnings profile looks solid and improving. Revenue has generally trended upward over the past five years, with only modest swings, which is typical for a large regulated utility. Profitability has strengthened noticeably in the most recent years, as major projects move from construction to operation and start contributing to earnings instead of just costs. Operating and net income have both stepped up, suggesting better cost control, higher allowed returns, or both. There is still some volatility year to year, reflecting large project timelines, fuel cost recovery, and regulatory timing, but the direction of earnings has been clearly positive rather than stagnant.

Balance Sheet

Balance Sheet The balance sheet reflects a large, capital‑intensive utility steadily adding assets and infrastructure. Total assets and shareholders’ equity have grown over time, indicating continued investment in plants, grid upgrades, and generation capacity, including nuclear. Debt has also risen, but broadly in line with the expanding asset base, which is common for regulated utilities that finance long‑lived projects with long‑term borrowings. Cash balances are low, but that is typical in this sector, where companies rely on predictable cash inflows and access to capital markets rather than holding large idle cash reserves. Overall, the profile looks like a classic regulated utility: asset‑heavy, with meaningful leverage but supported by regulated earnings.

Cash Flow

Cash Flow Cash generation from operations has improved significantly in the most recent period, which is a positive signal for the company’s ability to support its large investment program and service its obligations, including securities like GPJA. However, free cash flow is still slightly negative because capital spending remains very high. This is consistent with a utility in a heavy build‑out phase—nuclear completion, grid modernization, and renewable additions require large upfront cash outlays that are only recovered over many years through rates. In practice, this means the company continues to rely on external financing (debt and, at times, equity or hybrid securities) to bridge the gap between operating cash flow and investment needs.

Competitive Edge

Competitive Edge Georgia Power operates with a strong competitive position as a regulated monopoly utility covering most of Georgia, serving millions of customers. This status, combined with state regulation, gives it a relatively stable customer base and more predictable revenue than competitive market players, though it must continuously justify its costs and investments to regulators. Its extensive transmission and distribution network, plus a diverse power generation mix that includes nuclear, gas, coal, and renewables, creates high barriers to entry for would‑be competitors. Being part of Southern Company adds another layer of financial and operational backing. Customer satisfaction recognition for large business clients also supports its standing with key customers and regulators.

Innovation and R&D

Innovation and R&D Innovation at Georgia Power is focused on large‑scale, practical deployment rather than lab‑style research. The completion of the new Vogtle nuclear units is a significant technological and strategic milestone, providing long‑term, carbon‑free baseload power. Alongside this, the company is rolling out grid‑enhancing technologies like smart devices on the network, drones for inspections, and advanced metering to improve reliability and efficiency. Pilot efforts such as smart neighborhoods, distributed solar, and battery storage projects show a willingness to experiment with modern, customer‑facing energy solutions. The ongoing expansion of renewables and storage, plus planned upgrades to older nuclear and hydro plants, position the company to gradually shift toward a cleaner and smarter grid while maintaining reliability.

Summary

Overall, Georgia Power, the issuer behind the GPJA security, appears to be a mature, heavily regulated utility that is in the middle of a large investment cycle. Earnings and operating cash flow have strengthened as key projects come online, while the balance sheet has expanded with more assets and more debt, typical for this kind of business. The company benefits from monopoly status in its service area, regulatory oversight that provides revenue visibility, and support from its parent, Southern Company. At the same time, it faces the usual risks of big utilities: large capital needs, dependence on constructive regulatory decisions, exposure to interest rates, and the execution challenges of transitioning its generation fleet toward cleaner energy sources. Its emphasis on nuclear, grid modernization, and customer‑centric offerings suggests it is actively positioning itself for long‑term relevance in a changing energy landscape, but that also means sustained high investment and ongoing regulatory engagement will remain central to its story.