— Know what they know.
/
Not Investment Advice

EXC

NASDAQ · USD
Exelon Corporation
Utilities · Regulated Electric
CEO Calvin G. Butler Jr. Employees 20,571 R&D / revenue 0.0%
Last price
$43.50+2.40%last session
Market cap
$44.8B
P/E (TTM)
15.9x
From 52w high
−14.1%
From 52w low
+9.5%
1-year return
−4.8%
RSI 14 · vs SMA200
65.5 · −3.1%
IS score
37.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

EXC   SPY   XLU (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26SPY 116EXC 95XLU 92

Score DNA

Each bar is a 0-100 score within the scored universe
38
Profitability
47
Growth
59
Value
77
Momentum
15
Risk (safety)
66
Quality
27
Balance sheet
74
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
▲ Altman distress zone▲ Negative free cash flow▲ Share count rising
Observations
Moat model: None, Cost AdvantagePiotroski 8 / 9Altman Z 0.8Beta 0.393 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
No open-market sales on file
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+6
122 new holders, 96 closed
1,290 filers hold 93.2% · 581 added, 378 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+288
1,374 funds adding shares
1,086 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
54.6%
20-day avg 53.1%, 50-day avg 57.8%
Latest 1.5 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$24.3B
Revenue growth YoY+5.3%
Gross margin27.9%
Operating income$5.1B
Operating margin21.2%
Net income$2.8B
Net margin11.4%
EPS (diluted)$2.74
Cash flow
Operating cash flow$6.3B
Capital expenditure$8.5B
Free cash flow−$2.3B
FCF conversion (FCF / OCF)-36.4%
Stock-based compensation$0
FCF less SBC−$2.3B
Buybacks$0
Dividends$1.6B
Balance sheet & returns
Cash & short-term investments$1.2B
Total debt$50.2B
Net debt$49.0B
Shareholders' equity$28.8B
Goodwill & intangibles$6.6B
Debt / equity1.76
ROE (TTM)9.6%
ROIC (TTM)3.8%
Operating margin by fiscal year
12.0%FY202117.4%FY202218.5%FY202318.8%FY202421.2%FY2025
Revenue $17.9B (FY2021) to $24.3B (FY2025), a 7.8% CAGR.

Valuation

P/E (TTM)15.9x
EV / EBITDA10.6x
Price / sales1.77x
Price / FCFn/m
FCF yield-4.28%
Buyback yield0.00%
SBC / revenue0.0%
Price / book1.50x
Forward P/E FY202615.2x
Forward P/E FY202714.3x
Forward P/E FY202813.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $49.00 across 3 analysts last quarter is theirs, not ours.

EXC vs industry median

139 companies in Regulated Electric
Gross margin 24.5% 39.0% Operating margin 20.8% 19.1% Net margin 11.0% 13.0% ROIC 3.8% 5.7%
EXC (TTM)Industry median Asset turnover 0.21 vs industry 0.24 · financial leverage 4.06

Earnings delivery

Next report 2026-10-30 · consensus EPS $0.80
75%
beat rate, 9 of 12 quarters
+5.4%
median EPS surprise
8
longest beat streak
+0+3-3+17+6+8+5+6+11+8+3-1
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
EXC Exelon Corporation $44.8B15.9x9.6%11.0%+5.3% −4.8%
ELC Entergy Louisiana, LLC COLLA $45.8B4.6x12.6%13.7%+9.5% −13.9%
XEL Xcel Energy Inc. $47.7B20.8x9.9%18.8%+4.7% −5.9%
ED Consolidated Edison, Inc. $41.4B18.3x9.0%7.6%+9.5% +12.0%
ETR Entergy Corporation $50.2B26.5x10.5%13.8%+9.5% +10.2%
D Dominion Energy, Inc. $55.9B22.0x9.1%7.5%+20.3% —
PEG Public Service Enterprise Gr $35.6B17.7x11.8%13.1%+12.7% —
WEC WEC Energy Group, Inc. $35.4B20.9x12.4%14.5%+8.9% —
12-month window: SPY +15.9%, sector ETF XLU −8.1%. Past returns describe history only.

Recent 8-K filings

2026-08-25Officer/Director Change; Regulation FD; Exhibits
2026-04-30Shareholder Vote
2026-02-20Entry into Material Definitive Agreement; Creation of Direct Financial Obligation; Financial Statements and Exhibits
2026-02-03Departure/Election of Directors; Appointment of Officers
2025-12-04Entry into Material Definitive Agreement; Creation of Direct Financial Obligation; Unregistered Sales of Equity Securities; Other Events; Financial Statements and Exhibits
2025-11-26Departure/Election of Directors; Appointment of Officers; Financial Statements and Exhibits

Context

Shares outstanding1,030,253,967
Free float100.0%
Institutional ownership93.2%
Beta0.39
Dividend yield3.82%
Last dividend$0.42 on 2026-09-04
50 / 200-day average$43.07 / $45.56
Large-cap Utilities median P/E20.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (None).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where EXC sits among 45 scored companies in Regulated Electric (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureEXCIndustry medianIndustry percentileSector median
P/E (TTM) 16.1x 19.6x
30th		 20.7x
PEG (P/E ÷ 3-yr EPS CAGR) 1.93 1.94
48th		 2.20
Price / sales 1.8x 2.4x
39th		 2.4x
Price / book 1.5x 1.8x
32nd		 1.9x
Price / tangible book 2.1x 2.0x
55th		 2.1x
Price / free cash flow —
Price / operating cash flow 6.2x 9.1x
30th		 9.2x
Enterprise value $95.8B $51.2B
82nd		 $25.7B
EV / sales 3.8x 3.9x
43rd		 4.5x
EV / EBITDA 10.6x 11.6x
41st		 11.9x
EV / EBIT 18.1x 19.5x
39th		 19.6x
EV / free cash flow —
Earnings yield 6.2% 5.1%
70th		 4.8%
FCF yield -4.3% -1.8%
41st		 -4.2%
Operating cash flow yield 16.1% 10.7%
72nd		 10.3%
Graham number (per share) $41.96 $56.02
20th		 $48.77

Profitability (TTM)

MeasureEXCIndustry medianIndustry percentileSector median
Gross margin 24.5% 43.4%
5th		 43.4%
EBITDA margin 35.8% 40.2%
36th		 38.7%
Operating margin 20.8% 22.2%
39th		 20.9%
EBIT margin 20.9% 23.8%
25th		 23.2%
Net margin 11.0% 13.5%
25th		 12.4%
NOPAT margin 17.2% 19.3%
36th		 18.1%
FCF margin -7.6% -5.6%
45th		 -7.6%
Operating cash flow margin 28.5% 29.1%
45th		 28.3%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 0.0% 3.8%
0th		 4.2%
Stock comp / revenue 0.0% 0.0%
0th		 0.0%
Effective tax rate 17.3% 13.7%
61st		 18.4%

Returns on capital

MeasureEXCIndustry medianIndustry percentileSector median
ROE (on average equity) 9.7% 10.5%
32nd		 9.5%
ROA 2.4% 2.7%
25th		 2.6%
ROIC 5.4% 5.5%
43rd		 5.5%
ROCE 4.8% 5.3%
30th		 5.1%
Return on tangible assets 4.6% 4.9%
32nd		 4.7%
Cash ROIC (OCF / invested capital) 8.9% 8.6%
57th		 8.0%
Gross profitability (GP / assets) 5.2% 9.1%
7th		 8.6%
ROIC, 3-yr average 3.8% 4.4%
20th		 4.2%
ROIC, 5-yr average 4.0% 4.3%
37th		 4.2%
ROE, 5-yr average 9.6% 10.7%
35th		 9.1%
Incremental ROIC 39.2% 21.9%
80th		 20.6%

Growth

MeasureEXCIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 6.6% 8.0%
30th		 7.2%
Revenue growth (QoQ) -17.6% -16.9%
43rd		 -16.9%
Revenue CAGR, 3 yr 8.4% 2.8%
93rd		 3.0%
Revenue CAGR, 5 yr -0.2% 5.6%
5th		 6.3%
Gross profit CAGR, 3 yr -9.3% 8.0%
7th		 7.9%
Operating income CAGR, 3 yr 14.3% 10.5%
61st		 9.4%
Net income growth (TTM YoY) 4.9% 8.5%
45th		 8.6%
Net income CAGR, 3 yr 9.5% 9.5%
50th		 8.8%
EPS growth (TTM YoY) 2.3% 2.3%
50th		 4.2%
EPS CAGR, 3 yr 8.4% 6.6%
57th		 6.6%
EPS CAGR, 5 yr 22.2% 4.1%
90th		 4.0%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr —
Operating cash flow CAGR, 3 yr 28.6% 17.7%
88th		 12.7%
Book value CAGR, 3 yr 4.7% 4.8%
39th		 4.7%
Dividend CAGR, 3 yr 1.0% 0.3%
63rd		 0.3%
Sustainable growth rate 3.9% 3.8%
55th		 3.7%

Margin history & stability

MeasureEXCIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 35.7% 44.0%
23rd		 42.6%
Operating margin, 3-yr average 19.8% 21.9%
41st		 20.0%
Net margin, 3-yr average 10.9% 13.0%
27th		 12.5%
FCF margin, 3-yr average -7.6% -4.3%
45th		 -7.9%
Revenue stability (0-1) 0.00 0.75
0th		 0.75
Earnings stability (0-1) 0.55 0.43
59th		 0.51
Margin stability (0-1) 0.79 0.83
39th		 0.84

Liquidity (latest quarter)

MeasureEXCIndustry medianIndustry percentileSector median
Cash & short-term investments $1.2B $241.0M
73rd		 $215.5M
Net cash (− = net debt) −$51.0B −$24.6B
23rd		 −$12.1B
Working capital −$8.0M −$794.4M
84th		 −$284.5M
Current ratio 1.00 0.80
84th		 0.82
Quick ratio 0.90 0.66
86th		 0.69
Cash ratio (cash + ST investments / current liabilities) 0.14 0.07
70th		 0.08
Defensive interval (days) 2,248 days 286 days
100th		 314 days

Leverage & solvency (latest quarter)

MeasureEXCIndustry medianIndustry percentileSector median
Total debt $52.3B $25.1B
77th		 $12.5B
Debt / equity 1.76 1.68
52nd		 1.61
Net debt / equity 1.72 1.67
59th		 1.60
Debt / assets 43.4% 44.6%
36th		 43.4%
Debt / capital 63.8% 62.7%
52nd		 61.8%
Debt / EBITDA 5.77 5.59
55th		 5.59
Net debt / EBITDA 5.63 5.54
57th		 5.53
Interest coverage (EBIT / interest) 2.4x 2.4x
55th		 2.4x
Cash interest coverage 3.3x 3.1x
61st		 3.0x
Debt payback (years of OCF) 7.2 yrs 7.5 yrs
47th		 7.5 yrs
Liabilities / assets 75.4% 73.0%
75th		 70.8%
IS credit model rating B — —
Implied credit spread (bps) 750 750
34th		 750

Efficiency

MeasureEXCIndustry medianIndustry percentileSector median
Asset turnover 0.22 0.21
57th		 0.20
Fixed asset turnover 0.29 0.27
65th		 0.27
Inventory turnover 22.2 6.7
91st		 8.7
Receivables turnover 8.2 8.7
36th		 8.4
Days sales outstanding 45 days 41 days
65th		 43 days
Days inventory outstanding 16 days 54 days
9th		 42 days
Days payables outstanding 62 days 77 days
23rd		 75 days
Cash conversion cycle (days) −1 days 15 days
30th		 14 days
Capex / revenue 36.0% 33.3%
60th		 35.1%
Capex / depreciation 2.43 2.35
52nd		 2.40
Operating expense ratio 24.6% 30.3%
34th		 30.7%

Cash flow & earnings quality

MeasureEXCIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.59 2.19
77th		 2.20
FCF / net income −0.69 −0.32
45th		 −0.74
FCF / operating cash flow -26.6% -20.3%
46th		 -33.3%
Capex / operating cash flow 126.6% 120.3%
54th		 133.3%
Accruals ratio -3.8% -3.3%
32nd		 -3.2%
Sloan accruals ratio -2.8% -3.7%
70th		 -3.7%
Earnings quality score (0-1) 1.00 1.00
16th		 1.00

Dividends & buybacks

MeasureEXCIndustry medianIndustry percentileSector median
Dividend yield 3.8% 3.3%
82nd		 3.3%
Dividend per share (TTM) $1.66 $2.56
20th		 $1.87
Payout ratio (dividends / net income) 59.9% 65.4%
36th		 63.9%
Dividends / FCF —
Dividend growth (YoY) 3.6% 3.9%
43rd		 3.9%
Buyback yield 1.9% 0.0%
95th		 0.0%
Shareholder yield (dividends + buybacks) 5.6% 3.3%
80th		 3.3%
Share count change (YoY) 2.5% 2.2%
57th		 2.5%
Buybacks, last 5 years $0 $0
0th		 $0

Scores & forensic checks

MeasureEXCIndustry medianIndustry percentileSector median
IS score 38 42
32nd		 40
IS profitability 38 50
11th		 44
IS growth 47 49
41st		 50
IS value 59 58
57th		 56
IS momentum 77 77
48th		 78
IS risk (safety) 15 15
0th		 15
IS quality 66 66
48th		 64
IS balance sheet 27 25
64th		 28
IS earnings quality 74 79
20th		 79
IS cash flow 35 35
20th		 35
Piotroski F-score (0-9) 8 6
75th		 6
Altman Z-score 0.8 0.8
39th		 0.9
Beneish M-score −2.54 −2.60
58th		 −2.64
Ohlson O-score −7.30 −7.06
36th		 −7.04
IS credit score 29 27
59th		 29

Per share

MeasureEXCIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $2.71 $3.90
23rd		 $3.13
Book value per share $28.89 $34.68
25th		 $32.52
Tangible book per share $22.51 $34.58
16th		 $32.45
Revenue per share $24.64 $27.50
32nd		 $24.86
FCF per share −$1.86 −$1.01
45th		 −$1.64
Operating cash flow per share $7.02 $8.38
39th		 $7.00
Cash per share $1.22 $0.80
66th		 $0.83

Size (TTM)

MeasureEXCIndustry medianIndustry percentileSector median
Market cap $44.8B $21.5B
80th		 $8.5B
Revenue $25.3B $12.5B
82nd		 $5.4B
EBITDA $9.1B $4.3B
82nd		 $2.7B
Net income $2.8B $1.3B
77th		 $559.7M
Free cash flow −$1.9B −$189.0M
18th		 −$190.6M
Total assets $120.5B $56.2B
77th		 $34.0B
Shareholders' equity $29.7B $12.5B
80th		 $5.1B
Employees 20,571 9,950
84th		 5,870

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Rogers Matthew C
Director
 Award / grant 897——2,436
2026-09-30Lillie Charisse R
Director
 Award / grant 6——3,941
2026-09-30Cheshire Marjorie Rodgers
Director
 Award / grant 511——11,162
2026-09-30Bowers William P
Director
 Award / grant 1,067——22,546
2026-06-30Rogers Matthew C
Director
 Award / grant 778——1,524
2026-06-30Lillie Charisse R
Director
 Award / grant 5——3,896
2026-06-30Cheshire Marjorie Rodgers
Director
 Award / grant 442——10,547
2026-06-30Bowers William P
Director
 Award / grant 925——21,266
2026-04-28Segedi Bryan K
Director
 Award / grant 3,720——3,720
2026-04-28Rogers Matthew C
Director
 Award / grant 3,720——3,720
2026-04-28Richo Anna
Director
 Award / grant 3,720——3,720
2026-04-28Lillie Charisse R
Director
 Award / grant 3,720——3,720

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprJunSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1634,391—
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

FiledFilerShares proposedEst. proceeds
2024-06-14John Anthony9,000$318,983
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 4 trades (3 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-01-29Ro KhannaHouseSale$1,001 - $15,0002026-02-10
2025-10-30Ro KhannaHousePurchase$1,001 - $15,0002025-11-14
2025-10-29Lisa C. McClainHousePurchase$1,001 - $15,0002025-11-24
2019-11-04John HoevenSenatePurchase$50,001 - $100,0002019-11-20
2019-11-04John HoevenSenatePurchase$50,001 - $100,0002019-11-19
2017-06-15Patty MurraySenateSale (Full)$1,001 - $15,0002017-06-22
2017-06-15Patty MurraySenateSale (Full)$1,001 - $15,0002017-06-21
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.119,770,685$5.6B11.63%
STATE STREET CORP67,464,176$3.1B6.55%
VANGUARD CAPITAL MANAGEMENT LLC66,799,154$3.1B6.48%
VANGUARD PORTFOLIO MANAGEMENT LLC56,233,966$2.6B5.46%
Capital World Investors51,262,524$2.4B4.98%
Invesco Ltd.38,112,879$1.8B3.70%
GEODE CAPITAL MANAGEMENT, LLC32,376,504$1.5B3.14%
WELLINGTON MANAGEMENT GROUP LLP20,145,585$939.2M1.96%
GQG Partners LLC19,796,580$922.9M1.92%
NORDEA INVESTMENT MANAGEMENT AB13,226,544$618.5M1.28%
NORGES BANK13,097,968$610.6M1.27%
Legal & General Group Plc12,929,240$602.8M1.25%
DEUTSCHE BANK AG\12,164,580$567.1M1.18%
Bank of New York Mellon Corp12,100,733$564.1M1.17%
Amundi10,506,650$489.8M1.02%

Institutional ownership by quarter

2023-092026-0693.2%
% of shares held by 13F filers
2023-092026-061,290
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,29093.2%12258137896
2026-03-311,28488.3%15351739496
2025-12-311,24988.3%17150937592
2025-09-301,19882.6%12348737184
2025-06-301,17982.8%118501350117
2025-03-311,19581.5%19247432876
2024-12-311,09879.9%16642034995
2024-09-301,04880.0%13840432666
2024-06-3098880.8%9135533497
2024-03-311,01180.4%116340378106
2023-12-311,01679.0%143331382104
2023-09-3099479.8%8937033676

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-08SCHEDULE 13G/ABlackRock, Inc.10.1%103,668,925
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%76,934,260
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-04-23SCHEDULE 13G/ABlackRock, Inc.9.0%90,688,822
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.06%$1.3B
VSMPX0.06%$1.3B
VTI0.06%$1.3B
VTSAX0.06%$1.3B
VFFSX0.06%$1.1B
VFINX0.06%$1.1B

Share structure

Shares outstanding1,030,253,967
Float1,030,457,854
Free float100.0%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$17.9B$19.1B$21.7B$23.0B$24.3B
Cost of revenue$10.9B$11.0B$12.8B$13.6B$17.5B
Gross profit$7.0B$8.0B$8.9B$9.4B$6.8B
R&D$0$0$0$0$0
SG&A$0$0$0$0$0
Operating income$2.7B$3.3B$4.0B$4.3B$5.1B
EBITDA$9.4B$7.2B$7.9B$8.2B$8.8B
Pretax income$1.7B$2.4B$2.7B$2.7B$3.3B
Income tax$38.0M$349.0M$374.0M$207.0M$523.0M
Net income$1.7B$2.2B$2.3B$2.5B$2.8B
EPS, diluted$1.74$2.08$2.34$2.45$2.74
Diluted shares980.0M987.0M997.0M1.0B1.0B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$672.0M$407.0M$445.0M$357.0M$1.2B
Receivables$2.9B$3.6B$3.4B$3.8B$5.1B
Inventory$581.0M$755.0M$801.0M$853.0M$868.0M
Total current assets$14.0B$7.3B$8.1B$8.4B$9.5B
PP&E, net$64.6B$69.1B$73.6B$78.2B$84.3B
Goodwill & intangibles$6.6B$6.6B$6.6B$6.6B$6.6B
Total assets$133.0B$95.3B$101.9B$107.8B$116.6B
Accounts payable$2.4B$3.4B$2.8B$3.0B$3.7B
Total current liabilities$16.1B$10.6B$9.9B$9.6B$10.3B
Long-term debt$31.1B$35.7B$40.1B$43.3B$47.4B
Total liabilities$98.2B$70.6B$76.1B$80.9B$87.8B
Shareholders' equity$34.8B$24.7B$25.8B$26.9B$28.8B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.6B$2.2B$2.3B$2.5B$2.8B
Depreciation & amortization$7.6B$3.5B$2.8B$2.9B$3.6B
Stock-based compensation$95.0M$41.0M$0$0$0
Change in working capital−$5.6B−$2.3B−$852.0M−$1.2B−$1.9B
Operating cash flow$3.0B$4.9B$4.7B$5.6B$6.3B
Capital expenditure−$8.0B−$7.1B−$7.4B−$7.1B−$8.5B
Free cash flow−$5.0B−$2.3B−$2.7B−$1.5B−$2.3B
Investing cash flow−$3.3B−$7.0B−$7.4B−$7.0B−$8.5B
Net debt issued / repaid$3.1B$5.0B$4.0B$2.8B$3.5B
Buybacks$0$0$0$0$0
Dividends paid−$1.5B−$1.3B−$1.4B−$1.5B−$1.6B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin32.1%42.1%41.1%40.8%27.9%
Operating margin12.0%17.4%18.5%18.8%21.2%
Net margin7.4%11.4%10.7%10.7%11.4%
FCF margin-21.5%-11.9%-12.4%-6.6%-9.4%
ROE5.1%7.3%9.2%9.3%9.9%
ROIC3.6%4.4%5.0%5.4%5.5%
ROA1.3%1.9%2.4%2.3%2.5%
Debt / equity1.001.621.711.731.76
Interest coverage2.4x2.7x2.6x2.4x2.4x
Current ratio0.870.690.820.870.92
Revenue growth−29.9%−17.6%+13.9%+6.0%+5.3%
EPS growth−13.3%+24.7%+7.4%+5.0%+11.7%
P/E at year end20.5x17.8x14.3x14.8x15.9x
EV / EBITDA at year end6.9x10.6x9.9x10.1x10.6x
FCF yield at year end-14.21%-5.90%-8.14%-4.19%-5.16%
Dividend payout87.7%61.5%61.5%62.0%58.4%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Commonwealth Edison Co$6.4B$5.8B$7.8B$8.2B$7.3B
Pepco Holdings LLC$5.0B$5.6B$6.0B$6.4B$7.1B
Baltimore Gas and Electric Company$3.3B$3.9B$4.0B$4.4B$5.2B
PECO Energy Co$3.2B$3.9B$3.9B$4.0B$4.7B
Delmarva Power and Light Company$1.4B$1.6B$1.7B$1.8B$2.0B
Atlantic City Electric Company$1.4B$1.4B$1.5B$1.6B$1.7B
Corporate Segment and Other Operating Segment———$438.0M$424.0M
Corporate and Other$380.0M$391.0M$423.0M——

Street estimates by fiscal year

Next report 2026-10-30 · consensus EPS $0.80 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$25.5B$25.1B – $26.1B$2.86$2.85 – $2.881115.2x
2027$26.2B$25.7B – $26.9B$3.04$3.03 – $3.081214.3x
2028$27.1B$25.8B – $28.3B$3.26$3.24 – $3.30613.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$0.44$0.43−1.3%$5.4B$6.0B+9.6%
2026-05-06$0.88$0.91+2.9%$6.9B$7.2B+4.6%
2026-02-12$0.55$0.59+7.9%$5.4B$5.4B+0.4%
2025-11-04$0.78$0.86+10.5%$6.4B$6.7B+4.3%
2025-07-31$0.37$0.39+6.2%$5.4B$5.4B+0.9%
2025-05-01$0.88$0.92+4.9%$6.5B$6.7B+3.0%
2025-02-12$0.59$0.64+8.1%$4.5B$5.5B+21.2%
2024-10-30$0.67$0.71+6.0%$5.9B$6.2B+5.1%
2024-08-01$0.40$0.47+17.5%$4.6B$5.4B+15.8%
2024-05-02$0.70$0.68−2.9%$5.6B$6.0B+8.5%
2024-02-21$0.58$0.60+3.4%$3.9B$5.4B+38.8%
2023-11-02$0.67$0.670.0%$5.1B$6.0B+18.3%
2023-08-02$0.41$0.410.0%$4.2B$4.8B+14.3%
2023-05-03$0.66$0.70+6.1%$5.3B$5.6B+5.6%
2023-02-14$0.43$0.430.0%$4.1B$4.7B+13.4%
2022-11-03$0.70$0.75+7.1%$5.0B$4.8B−3.3%
2022-08-03$0.46$0.44−4.3%$4.0B$4.2B+5.1%
2022-05-09$0.66$0.64−3.0%$4.6B$5.3B+15.5%
2022-02-25$0.87$0.90+3.4%$4.4B$9.6B+120.2%
2021-11-03$1.09$1.090.0%$8.6B$8.9B+3.0%
2021-08-04$0.70$0.89+27.1%$7.0B$7.9B+13.2%
2021-05-05$0.34$-0.06−117.6%$9.2B$9.9B+7.1%
2021-02-24$0.71$0.76+7.0%$7.9B$8.1B+2.4%
2020-11-03$0.87$1.04+19.5%$7.4B$8.9B+19.5%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.306-150.506-220.306-290.407-060.307-130.407-200.407-270.308-030.208-100.208-170.208-240.408-31
Week ofNotionalSharesTrades
2026-08-31$371.5M8,456,001107,257
2026-08-24$227.7M5,163,87588,434
2026-08-17$215.5M4,758,11792,961
2026-08-10$177.6M3,932,24273,301
2026-08-03$258.2M5,671,03598,379
2026-07-27$428.3M9,218,716134,751

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1554.6%
DateShort shareShort volumeTotal volume
2026-10-1554.6%877,0311,605,748
2026-10-1463.1%822,5721,303,914
2026-10-1355.2%942,3501,706,528
2026-10-1253.7%795,6831,480,621
2026-10-0947.2%768,3791,627,906
2026-10-0861.0%1,049,9351,720,459
2026-10-0760.0%1,239,7562,067,030
2026-10-0641.1%690,4831,680,646
2026-10-0541.0%993,7702,422,096
2026-10-0266.0%1,331,4462,016,175
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.3Jan+0.4Feb+3.3Mar+2.4Apr-0.1May-0.9Jun+0.3Jul-0.3Aug-1.4Sep+1.5Oct+0.9Nov+1.3Dec
MonthAvg returnUp yearsYears
Jan+0.3%55%20
Feb+0.4%50%20
Mar+3.3%76%21
Apr+2.4%75%20
May−0.1%65%20
Jun−0.9%40%20
Jul+0.3%65%20
Aug−0.3%35%20
Sep−1.4%40%20
Oct+1.5%65%20
Nov+0.9%55%20
Dec+1.3%55%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1465.5
MFI76.2
ADX25.2
Stochastic %K / %D89.4 / 89.8
Williams %R-2.1
CCI161
TSI / signal-1.0 / -20.0
Chaikin money flow0.08
ATR$0.75
Bollinger width8.8%
Volume vs 20-day avg0.84x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$41.40 (+5.1%)
SMA 50$42.87 (+1.5%)
SMA 200$44.89 (−3.1%)
EMA 21$42.03 (+3.5%)
EMA 50$42.77 (+1.7%)
EMA 200$44.07 (−1.3%)
Bollinger upper$43.23 (+0.6%)
Bollinger lower$39.58 (+9.9%)
Parabolic SAR$41.29 (+5.4%)
Open the live chart, 110+ indicators

About Exelon Corporation

Exelon Corporation, a utility holding company established in 1999 and headquartered in Chicago, Illinois, operates across the United States and Canada. The company primarily focuses on the generation, delivery, and marketing of energy. It maintains a diverse portfolio of power production facilities, utilizing nuclear, fossil fuel, wind, hydroelectric, biomass, and solar technologies. Exelon engages in the sale of electricity to both wholesale and retail clients, while also providing natural gas, renewable energy solutions, and various other energy-related products and services. Beyond generation, the corporation manages the regulated procurement and direct sale of electricity and natural gas to consumers, alongside overseeing the essential transmission and distribution infrastructure for both power and natural gas. To support its extensive operations, Exelon provides a wide array of internal services, including legal counsel, human resources, information technology, financial management, supply chain, accounting, engineering, customer support, infrastructure planning, asset management, system operations, and power acquisition. The company caters to a broad customer base, which includes distribution utilities, municipal entities, cooperatives, financial institutions, and commercial, industrial, governmental, and residential sectors.

https://www.exeloncorp.com

Key executives

NameTitlePayBorn
Calvin ButlerChief Executive Officer, President & Director$4.3M1970
Jeanne JonesExecutive Vice President of Finance & Strategy$1.8M1979
Michael A. InnocenzoExecutive Vice President & Chief Operating Officer$1.7M1966
Colette D. HonorableExecutive VP of Compliance, Chief Legal Officer & Corporate Secretary$1.5M1970
Caroline FulginitiVP, Controller & Principal Accounting Officer—1977
Cynthia McCabeSenior Vice President & Chief Communications Officer——
Elizabeth Pitts-MadonnaSenior VP & Chief Human Resources Officer——
Jessica K. HartSenior Vice President & Chief Investment Officer—1977

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Rowe2012$561,231$4.5M$355,082$23.5M
Crane2012$1.1M$4.2M$1.3M$10.2M
Shattuck2012$893,269$3.6M$1.3M$8.0M
O’Brien2012$686,923$1.5M$685,125$3.7M
Thayer2012$500,000$1.4M$555,750$3.2M
Von Hoene2012$685,577$1.3M$565,250$3.2M

Employees

33k201833k201932k202032k202119k202220k202320k202421k2025

Dividends

Ex-dateAmountPaid
2026-09-04$0.422026-09-15
2026-06-04$0.422026-06-15
2026-03-02$0.422026-03-13
2025-11-10$0.42025-12-15
2025-08-11$0.42025-09-15
2025-05-12$0.42025-06-13
2025-02-24$0.42025-03-14
2024-11-08$0.382024-12-13

Moat model

None · Cost Advantage · 2026-06-30
Cost advantage53
Intangibles21
Switching costs29
Network effect42
Efficient scale42
Our component scores (0-100) and overall 35.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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