Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Exelon

EXC stock analysis · Utilities · Electric Utilities

FY 2025-12-31ANNUAL FILINGS
Compare ⇄
ⓘ These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$46.62HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$47.7B

Price × SEC outstanding shares. Shares measured 2026-03-31. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

— Requires positive annual FCF, usable shares and discount rate above terminal growth.

Requires positive annual FCF, usable shares and discount rate above terminal growth.

How this is calculated ↗
Valuation

Reverse DCF

— No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.

How this is calculated ↗
Valuation

Relative valuation

38.1%

14 industry peers · median 23.8×

How this is calculated ↗
Valuation

Historical multiples

17.2×

7 annual observations · snapshot P/E 17.2× · 0.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

-4.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

5.4%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

73/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

— Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

8.2%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

— Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-3.1%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

3.1%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 8.5B2020-12-31: cfo $4,235,000,000.002020-12-31: capex $8,048,000,000.0020202021-12-31: cfo $3,012,000,000.002021-12-31: capex $7,981,000,000.0020212022-12-31: cfo $4,870,000,000.002022-12-31: capex $7,147,000,000.0020222023-12-31: cfo $4,703,000,000.002023-12-31: capex $7,408,000,000.0020232024-12-31: cfo $5,569,000,000.002024-12-31: capex $7,097,000,000.0020242025-12-31: cfo $6,254,000,000.002025-12-31: capex $8,529,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%———
10.0%———
12.0%———

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3124.3B2.8B6.3B8.5B116.6B
2024-12-3123B2.5B5.6B7.1B107.8B
2023-12-3121.7B2.3B4.7B7.4B101.9B
2022-12-3119.1B2.2B4.9B7.1B95.3B
2021-12-3117.9B1.8B3B8B133B
2020-12-3116.7B2B4.2B8B129.3B
2019-12-3134.4B3B6.7B7.2B125B
2018-12-31-62M2.1B8.6B7.6B119.6B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue24.3BRevenues2026-02-12
netIncome2.8BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-12
Parent/common earnings proxy2.8BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-12
cfo6.3BNetCashProvidedByUsedInOperatingActivities2026-02-12
capex8.5BPaymentsToAcquirePropertyPlantAndEquipment2026-02-12
operatingIncome5.1BOperatingIncomeLoss2026-02-12
assets116.6BAssets2026-02-12
equity28.8BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-12
Parent book equity proxy28.8BStockholdersEquity2026-02-12
debt49.4BLongTermDebt2026-02-12
shortDebt612MShortTermBorrowings2026-02-12
cash626MCashAndCashEquivalentsAtCarryingValue2026-02-12
shares1BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-12
dividends1.6BPaymentsOfDividendsCommonStock2026-02-12
buybacks—Not reported under a supported tag—
issuance691MProceedsFromIssuanceOfCommonStock2026-02-12