EXC Utilities

Exelon Corporation

$45.50-2.05%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Utilities
Industry: Utilities - Regulated Electric
Country: United States
Market cap: 46.9B USD
Enterprise value: 95.4B USD
Full-time employees: 20,571

Overall health

Drawback: more debt relative to equity (1.76× vs a peer median of 1.19×)more debt vs equity (1.76× vs peers 1.19×)
About average: profitability, valuation and risk (debt, liquidity and share-price swings)profitability, valuation and risk

Ranks #140 of 348 utilities companies (top 41%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Exelon reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Paying shareholders without free cash flow. Paid out $4.6B over the 3 fiscal years to 2025 with -$6.5B of free cash flow.
Exelon returned $4.6B in buybacks and dividends over three fiscal years while its free cash flow totalled -$6.5B. The money came from its cash pile or from borrowing.
Operating margin at a 6-year high. 21% in 2025, the best of the last 6 years.
Exelon kept 21% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Profits growing faster than sales. Since 2022: revenue +27%, operating profit +55%.
Since 2022, Exelon's revenue grew 27% while operating profit grew 55%: each extra dollar of sales is adding more profit.

StockQuotient Score

53/ 100

Oct 5 54 → Nov 4 53 (-1)

Valuation

Is the price right?

54/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 53 → 54

Share price +1.8%-2
Company's reported figures updated+2
Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield5.9%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.34Sector median: 0.0485 · MAD: 0.0319

EBITDA yield9.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.27Sector median: 0.0859 · MAD: 0.0250

Free cash flow yield-4.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield63.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.6310 · MAD: 0.2684

Growth

Is it growing?

70/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.2%

Why it changed since the Oct 27, 2026 close: Score 69 → 70

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth2.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.05Sector median: 0.0172 · MAD: 0.1791

3-year revenue growth8.4%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.23Sector median: 0.0196 · MAD: 0.0523

Revenue growth6.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.59Sector median: 0.0254 · MAD: 0.0681

Profitability

Does it earn well?

45/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin20.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.25Sector median: 0.1864 · MAD: 0.0865

Return on assets2.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.28Sector median: 0.0266 · MAD: 0.0124

Return on invested capital5.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.02Sector median: 0.0524 · MAD: 0.0237

Other data (not scored)

Gross margin42.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3581 · MAD: 0.1545

Return on equity9.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0807 · MAD: 0.0381

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.40

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.33Sector median: 0.4590 · MAD: 0.1730

Current ratio1.09×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.15Sector median: 1.0330 · MAD: 0.3620

Debt / equity1.76×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.08Sector median: 1.1925 · MAD: 0.5265

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Exelon

Is Exelon getting weaker?: Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is unchanged at 53/100 since Oct 28, 2026.
How is Exelon valued vs its peers?: Priced about in line with its peers. Valuation scores 54/100 against 360 utilities peers. Earnings yield 5.9% vs a peer median of 4.8% (stronger than 61% of peers).Earnings yield 5.9% vs peers 4.8% (stronger than 61% of peers).
Is Exelon growing?: Yes, faster than most of its peers. Growth scores 70/100 against 360 utilities peers. 3-year revenue growth 8.4% vs a peer median of 2.0% (stronger than 80% of peers).3-year revenue growth 8.4% vs peers 2.0% (stronger than 80% of peers).
How profitable is Exelon?: About as profitable as its peers. Profitability scores 45/100 against 360 utilities peers.
How risky is Exelon?: Moderate risk relative to 360 utilities peers, judged on debt, liquidity and share-price swings. Debt / equity 1.76× vs a peer median of 1.19× (weaker than 76% of peers).Debt / equity 1.76× vs peers 1.19× (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	24.8B USD	25.3B USD	+2.2%
Net income (12 months)	2.8B USD	2.8B USD	+0.1%
Operating margin	21.0%	20.8%	−0.2 pts
Free cash flow (12 months)	−2.2B USD	−1.9B USD	−11.4%
Debt	50.9B USD	52.3B USD	+2.8%
Cash	713.0M USD	1.8B USD	+154.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Utilities - Regulated Electric · 29 companies

Valuations in Utilities - Regulated Electric are above their usual range since 2016.

67% of months since 2016 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +18% and earnings +20% (medians): prices and earnings moved broadly together.
Median price-to-sales is +1% vs the whole market, against a usual +1%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	15.0%	17.4%	18.5%	18.8%	21.2%	▲ 2.5 pts
Net margin	10.2%	11.4%	10.7%	10.7%	11.4%	▲ 0.7 pts
Return on assets (ROA)	1.4%	2.3%	2.3%	2.3%	2.4%	▲ 0.1 pts
Return on equity (ROE)	5.3%	8.8%	9.0%	9.1%	9.6%	▲ 0.5 pts
Free cash flow margin	-27.7%	-11.9%	-12.4%	-6.6%	-9.4%	▼ 2.7 pts
Current ratio	0.87×	0.69×	0.82×	0.87×	0.92×	▲ 5.9%
Debt to equity	1.16×	1.61×	1.70×	1.73×	1.74×	▲ 0.5%
Interest coverage	—	—	—	—	—	—

EXC price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

Transmissora Aliança de Energia Elétrica S.A.TAEE3.SA94/ 100

Central Puerto S.A.CEPU93/ 100

Suntar Environmental Technology Co., Ltd.688101.SS88/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: more debt relative to equity (1.76× vs a peer median of 1.19×)more debt vs equity (1.76× vs peers 1.19×)

About average: profitability, valuation and risk (debt, liquidity and share-price swings)profitability, valuation and risk

Ranks #140 of 348 utilities companies (top 41%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Exelon reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Paying shareholders without free cash flow. Paid out $4.6B over the 3 fiscal years to 2025 with -$6.5B of free cash flow.

Exelon returned $4.6B in buybacks and dividends over three fiscal years while its free cash flow totalled -$6.5B. The money came from its cash pile or from borrowing.

Operating margin at a 6-year high. 21% in 2025, the best of the last 6 years.

Exelon kept 21% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Profits growing faster than sales. Since 2022: revenue +27%, operating profit +55%.

Since 2022, Exelon's revenue grew 27% while operating profit grew 55%: each extra dollar of sales is adding more profit.

Questions investors ask about Exelon

Is Exelon getting weaker?

Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is unchanged at 53/100 since Oct 28, 2026.

How is Exelon valued vs its peers?

Priced about in line with its peers. Valuation scores 54/100 against 360 utilities peers. Earnings yield 5.9% vs a peer median of 4.8% (stronger than 61% of peers).Earnings yield 5.9% vs peers 4.8% (stronger than 61% of peers).

Is Exelon growing?

Yes, faster than most of its peers. Growth scores 70/100 against 360 utilities peers. 3-year revenue growth 8.4% vs a peer median of 2.0% (stronger than 80% of peers).3-year revenue growth 8.4% vs peers 2.0% (stronger than 80% of peers).

How profitable is Exelon?

About as profitable as its peers. Profitability scores 45/100 against 360 utilities peers.

How risky is Exelon?

Moderate risk relative to 360 utilities peers, judged on debt, liquidity and share-price swings. Debt / equity 1.76× vs a peer median of 1.19× (weaker than 76% of peers).Debt / equity 1.76× vs peers 1.19× (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

24.8B USD

25.3B USD

+2.2%

Net income (12 months)

2.8B USD

2.8B USD

+0.1%

Operating margin

21.0%

20.8%

−0.2 pts

Free cash flow (12 months)

−2.2B USD

−1.9B USD

−11.4%

Debt

50.9B USD

52.3B USD

+2.8%

Cash

713.0M USD

1.8B USD

+154.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

15.0%

17.4%

18.5%

18.8%

21.2%

▲ 2.5 pts

Net margin

10.2%

11.4%

10.7%

11.4%

▲ 0.7 pts

Return on assets (ROA)

1.4%

2.3%

2.4%

▲ 0.1 pts

Return on equity (ROE)

5.3%

8.8%

9.0%

9.1%

9.6%

▲ 0.5 pts

Free cash flow margin

-27.7%

-11.9%

-12.4%

-6.6%

-9.4%

▼ 2.7 pts

Current ratio

0.87×

0.69×

0.82×

0.87×

0.92×

▲ 5.9%

Debt to equity

1.16×

1.61×

1.70×

1.73×

1.74×

▲ 0.5%

Interest coverage

—