Consolidated Edison Inc (ED) vs Exelon Corporation (EXC)

Consolidated Edison Inc and Exelon Corporation are both Utilities Regulated Electric companies. Consolidated Edison Inc and Exelon Corporation are of similar size ($41.4B and $37.9B). Exelon Corporation trades at the lower P/E: 14.8× against 16.9×. Consolidated Edison Inc grew revenue faster over the last twelve months: 9.54% against 6.57%. Consolidated Edison Inc has the higher net margin (12.5% vs 11.0%) and the lower return on invested capital (3.88% vs 4.18%). Both pay a dividend; Exelon Corporation yields more (4.33% vs 3.68%). Across the 22 metrics below, Exelon Corporation leads on 12 and Consolidated Edison Inc on 10.

Valuation

Metric ED EXC Utilities Regulated Electric median
P/E 16.87 14.78 18.84
P/S 2.15 1.63 2.52
P/B 1.48 1.39 1.63
Price to free cash flow n/m n/m 36.22
EV/EBITDA 11.54 10.01 11.82
EV/Sales 3.60 3.57 4.58
Earnings yield 5.93% 6.77% 5.30%
Free cash flow yield (3.42%) (4.63%) (5.06%)

Profitability

Metric ED EXC Utilities Regulated Electric median
Gross margin 74.74% 63.53% 66.28%
Operating margin 18.00% 20.80% 21.79%
Net margin 12.54% 10.99% 12.94%
Free cash flow margin (7.35%) (7.56%) (11.51%)
Return on equity 8.97% 9.71% 9.75%
Return on assets 3.00% 2.40% 2.75%
Return on invested capital 3.88% 4.18% 3.87%

Growth

Metric ED EXC Utilities Regulated Electric median
Revenue growth (TTM) 9.54% 6.57% 7.43%
EPS growth (last fiscal year) 7.63% 11.43% —
Revenue growth, 5-year CAGR 6.68% 7.80% 6.75%
Net income growth, 5-year CAGR 12.94% 7.11% 6.44%

Health

Metric ED EXC Utilities Regulated Electric median
Debt to equity 1.05 1.73 1.53
Current ratio 1.27 1.09 0.81
Net debt to EBITDA 4.69 5.50 5.25

Dividend

Metric ED EXC Utilities Regulated Electric median
Dividend yield 3.68% 4.33% 4.33%
Payout ratio 0.46 0.65 0.66

Size

Metric ED EXC Utilities Regulated Electric median
Market cap 37.85b 41.44b 22.90b

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