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Exelon Corporation

EXC Utilities Utilities Regulated Electric

Exelon Corporation’s revenue for fiscal 2025 (year ended December 2025) was $24.3 billion, up 5.34% from fiscal 2024. In the quarter to June 2026, revenue grew 9.95%, EPS was flat, free cash flow grew 49.0% and total debt rose 7.74%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for ten consecutive years, revenue growth for five.

43.50 1.02 +2.40%
Market cap
$43.9B
P/E
15.9×
Fwd P/E
16.0×
Dividend yield
3.82%
F-score
6/9
Altman Z
0.74
Beneish M
−2.33
Dividend safety
36/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 43,850.00
Revenue 25,326.00
Net Income 2,783.00
Free Cash Flow (1,914.00)
Net Debt 49,009.00
Current Ratio 1.09
Debt/Equity 1.73
P/E ratio 15.93
Fwd P/E 16.00
P/S ratio 1.76
P/B ratio 1.50
Past 5Y EPS Growth 6.31%
This Y EPS Growth 3.14%
Next Y EPS Growth 6.31%
Next Y revenue growth 18.27% (at or above 10%: strong)
Next 5Y EPS Growth 5.54%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.7×, against a ten-year median of 3.6×; over the ten years it ranged from 1.3× in 2016 to 13.8× in 2021.
P/E against its own 10 years 49.50%
10-year low 10-year high
P/S against its own 10 years 58.02%
10-year low 10-year high
P/B against its own 10 years 68.93%
10-year low 10-year high
EV/Sales against its own 10 years 57.69%
10-year low 10-year high

Dividends

Payout Ratio 0.61
Annual Dividend Rate 1.66
Annual Dividend Yield 3.82%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.89
0.42
0.42
0.42
2025 1.60
0.40
0.40
0.40
0.40
2024 1.52
0.38
0.38
0.38
0.38
2023 1.80
0.36
0.36
0.36
0.36
0.36
2022 1.35
0.34
0.34
0.34
0.34
2021 1.09
0.27
0.27
0.27
0.27
2020 1.09
0.27
0.27
0.27
0.27
2019 1.03
0.26
0.26
0.26
0.26
2018 0.98
0.25
0.25
0.25
0.25
2017 0.93
0.23
0.23
0.23
0.23
2016 0.90
0.22
0.23
0.23
0.23
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 927 898 1,151 2,421
Receivables 3,361 3,754 5,082 4,259
Inventory 801 853 868 894
Other 2,998 2,879 2,445 2,223
8,087 8,384 9,546 9,797
2023 2024 2025 Q'26
Payables 2,846 2,994 3,721 3,475
ST’ Debt 1,403 1,453 1,665 727
Other 1,749 1,832 2,746 2,111
9,901 9,611 10,331 9,008

Compound Annual Growth %

10y 5y 3y
Sales (1.92%) 7.80% 8.34%
Cash Flow (1.95%) 8.11% 8.70%
Earnings 2.01% 7.11% 8.45%
Book Value 0.54% (3.75%) 5.19%

Revenue $m

Mar Jun Sep Dec Year
’26 7,242 5,967 — — —
’25 6,714 5,427 6,705 5,412 24,258
’24 6,043 5,361 6,154 5,470 23,028
’23 5,563 4,818 5,980 5,366 21,727
’22 5,327 4,239 4,845 4,667 19,078
’21 4,632 4,020 4,863 4,423 17,938
’20 8,747 7,322 8,853 (8,259) 16,663
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,724 1,945 — — —
’25 1,200 1,511 2,299 1,244 6,254
’24 992 1,462 1,689 1,426 5,569
’23 484 1,277 1,531 1,411 4,703
’22 1,782 1,458 901 729 4,870
’21 (1,261) 2,399 3,003 (1,129) 3,012
’20 1,080 1,600 1,542 13 4,235
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (634) (255) — — —
’25 (746) (500) 163 (1,188) (2,271)
’24 (773) (239) 32 (510) (1,490)
’23 (1,397) (527) (324) (432) (2,680)
’22 (124) (127) (771) (1,255) (2,277)
’21 (2,721) 543 1,150 (3,064) (4,092)
’20 (936) (157) (245) (2,429) (3,767)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.90 0.39 — — —
’25 0.90 0.39 0.86 0.58 2.73
’24 0.66 0.45 0.70 0.64 2.45
’23 0.67 0.34 0.70 0.62 2.34
’22 0.61 0.47 0.68 0.43 2.08
’21 (0.30) 0.41 1.23 0.40 1.74
’20 0.60 0.53 0.51 0.37 2.01
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 18.73 23.75 25.37 30.97 20.88 27.35 35.19 34.05 33.35 37.13

Analyst estimates 2026–2028

Powerpack
High 26.89 30.44 33.81 36.51 36.05 41.38 50.71 44.37 41.19 48.51
People
People Employees 34,396 34,621 33,383 32,713 32,340 31,518 19,063 19,962 20,014 20,571
Revenue/emp, $m 0.91 0.97 1.08 1.05 0.52 0.57 1.00 1.09 1.15 1.18
Income, $m
Income, $m Revenue 31,366 33,558 35,978 34,438 16,663 17,938 19,078 21,727 23,028 24,258
Gross margin, % 59.70 58.18 53.67 55.00 65.67 64.41 66.60 62.07 62.29 64.27
EBT 1,973 3,775 2,225 3,985 1,092 1,654 2,403 2,702 2,667 3,291
EBT margin, % 6.29 11.25 6.18 11.57 6.55 9.22 12.60 12.44 11.58 13.57
Net income 1,196 3,869 2,079 3,028 1,954 1,829 2,171 2,328 2,460 2,768
Depreciation 5,576 5,427 5,971 5,780 6,527 7,573 3,533 3,506 3,596 3,643
Per share, $
Per share, $ Revenue 33.95 35.44 37.21 35.39 17.07 18.32 19.35 21.81 22.96 23.99
Earnings 1.23 3.98 2.08 3.02 2.01 1.74 2.08 2.34 2.45 2.73
Cash flow 9.16 7.90 8.94 6.84 4.34 3.08 4.94 4.72 5.55 6.19
Capex (9.19) (7.78) (7.76) (7.44) (8.20) (7.26) (7.25) (7.41) (7.04) (8.43)
Free cash flow (0.03) 0.12 1.18 (0.59) (3.86) (4.18) (2.31) (2.69) (1.49) (2.25)
Book value 29.88 33.99 34.17 35.53 35.73 35.54 25.10 25.86 26.84 28.48
Shares, m 924 947 967 973 976 979 986 996 1,003 1,011
Valuation, ×
Valuation, × P/E 20.41 7.13 15.39 10.80 14.98 23.68 19.71 15.65 15.36 15.97
P/S 0.74 0.80 0.86 0.92 1.76 2.25 2.23 1.67 1.64 1.82
P/B 0.84 0.83 0.94 0.92 0.84 1.16 1.72 1.41 1.40 1.53
EV/Sales 1.82 1.82 1.82 1.95 3.94 4.05 4.14 3.54 3.55 3.81
EV/FCF (1,841.98) 532.35 57.25 (116.34) (17.41) (17.75) (34.72) (28.69) (54.80) (40.68)
Cash, $m
Cash, $m Operating cash flow 8,461 7,480 8,644 6,659 4,235 3,012 4,870 4,703 5,569 6,254
Capex (8,492) (7,365) (7,503) (7,236) (8,002) (7,104) (7,147) (7,383) (7,059) (8,525)
Free cash flow (31) 115 1,141 (577) (3,767) (4,092) (2,277) (2,680) (1,490) (2,271)
Balance, $m
Balance, $m Working capital (1,045) 1,098 1,924 (2,148) (209) (2,154) (3,275) (1,814) (1,227) (785)
Total debt 34,797 35,582 35,814 36,429 37,302 33,292 37,464 41,485 44,790 49,468
Net debt 33,909 34,477 34,218 35,484 36,201 32,299 36,491 40,558 43,892 48,317
Shareholders’ equity 27,612 32,187 33,047 34,573 34,868 34,795 24,744 25,755 26,921 28,798
Returns, %
Returns, % ROA 1.07 3.26 1.70 2.40 1.54 1.30 1.90 2.36 2.35 2.47
ROIC 3.26 4.11 3.62 3.90 1.93 2.50 3.38 3.79 3.81 4.17
ROE 4.08 12.64 6.15 8.68 5.65 4.90 7.29 9.22 9.34 9.94
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Exelon Corporation vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
D Dominion Energy Inc. $55.3B 22.2× 18.6× +17.59% (above 0%: growing) −57.95% (below 0%: shrinking) +31.64% (above 0%: growing) 67.68% 7.34% Compare
ETR Entergy Corporation $49.7B 26.5× 25.3× +5.85% (above 0%: growing) −1.87% (below 0%: shrinking) −16.71% (below 0%: shrinking) 69.73% 24.13% Compare
XEL Xcel Energy Inc. $46.9B 20.8× 19.2× −5.11% (below 0%: shrinking) +23.68% (above 0%: growing) −37.30% (below 0%: shrinking) 75.22% 22.64% Compare
EXC Exelon Corporation $43.9B 15.9× 16.0× +9.95% (above 0%: growing) 0.00% +49.00% (above 0%: growing) 62.95% 16.41%
ED Consolidated Edison Inc $40.5B 18.4× 17.0× +13.18% (above 0%: growing) +22.06% (above 0%: growing) −30.76% (below 0%: shrinking) 74.22% 13.57% Compare
PEG Public Service Enterprise Group Incorporated $35.0B 17.8× 18.3× −8.95% (below 0%: shrinking) −42.74% (below 0%: shrinking) +30.10% (above 0%: growing) 66.09% 18.05% Compare
WEC WEC Energy Group, Inc. $34.6B 21.0× 20.2× +2.62% (above 0%: growing) +19.48% (above 0%: growing) −1,365.55% (below 0%: shrinking) 73.06% 20.99% Compare
AEE Ameren Corporation $28.7B 18.5× 20.3× −5.81% (below 0%: shrinking) +11.76% (above 0%: growing) −51.22% (below 0%: shrinking) 73.90% 21.94% Compare
PCG Pacific Gas & Electric Co. $28.5B 9.5× 11.2× +0.07% (above 0%: growing) +37.50% (above 0%: growing) −2.64% (below 0%: shrinking) 84.50% 21.40% Compare
Median of peers $37.7B 19.7× 18.9× +1.35% +15.62% −23.73% 73.48% 21.20%

All 40 Utilities Regulated Electric stocks →

EXC metrics, ten years each

Exelon Corporation (EXC) key facts

  • Strength: Exelon Corporation’s revenue for fiscal 2025 (year ended December 2025) was $24.3 billion, up 5.34% from fiscal 2024.
  • Strength: Net income was $2.8 billion, or $2.73 per share (basic), a net margin of 11.4%.
  • Exelon Corporation (EXC) is an Utilities Regulated Electric company in the Utilities sector, listed on Nasdaq.
  • As of October 16, 2026, EXC traded at $43.50, a market capitalization of $43.9 billion.
  • At that price the stock trades at 15.9× trailing-twelve-month earnings and 1.8× sales; its P/E is higher than 50% of its own readings over the past ten years.
  • Exelon Corporation pays an annual dividend of $1.66 per share, a yield of 3.82%, with a payout ratio of 60.8%.
  • Return on equity was 9.94% and debt-to-equity 1.73.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 0.74 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/EXC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com