EXC
Exelon Corporation
EXC's fundamentals are mixed: revenue grew 6.7%, but free cash flow was negative. At 18x earnings, it's trading in line with its usual 17x. Analysts expect earnings growth.
EXC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Weak | |
| Weak |
EXC's revenue and profitability are currently healthy, but its cash flow and balance sheet are weak.
EXC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $45.63 | — |
| Cheap | 16x | $39.85 | -13% |
| Fair | 17x | $44.12 | -3.3% |
| Current | 18x | $45.63 | — |
| Expensive | 20x | $51.89 | +14% |
Historical ranges are pointers, not guarantees.
EXC's PE is in its fair range at 18x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its cheap range.
EXC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for EXC, with profitability improving.
EXC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.00 | +17% |
| Q3 2026 | $2.57 | -7.9% |
| Q2 2026 | $2.73 | +3.8% |
| Q1 2026 | $2.73 | +1.5% |
| Q4 2025 | $2.73 | +11% |
| Q3 2025 | $2.79 | +14% |
| Q2 2025 | $2.63 | +7.8% |
| Q1 2025 | $2.69 | +15% |
| Q4 2024 | $2.45 | +4.7% |
EXC earned $2.57 per share over the past year, down 7.9% from the year before.
EXC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.3B | +9.2% |
| Q2 2026 | $6B | +10% |
| Q1 2026 | $7.2B | +7.9% |
| Q4 2025 | $5.4B | -1.1% |
| Q3 2025 | $6.7B | +9% |
| Q2 2025 | $5.4B | +1.2% |
| Q1 2025 | $6.7B | +11% |
| Q4 2024 | $5.5B | +1.9% |
EXC's revenue is recovering but still below its 2021 peak: $7.3B last quarter, up 9.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -3.5 points |
| Q2 2026 | 16% | -0.7 points |
| Q1 2026 | 22% | -0.7 points |
| Q4 2025 | 22% | +1.8 points |
| Q3 2025 | 22% | +2.9 points |
| Q2 2025 | 17% | 0 points |
| Q1 2025 | 23% | +4.4 points |
| Q4 2024 | 20% | -0.3 points |
EXC's operating margin was 19% last quarter, down 3.5 points from the same quarter a year ago.
EXC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$506M | -410% |
| Q2 2026 | -$255M | +$247M |
| Q1 2026 | -$634M | +$112M |
| Q4 2025 | -$1.2B | -$680M |
| Q3 2025 | $163M | +$169M |
| Q2 2025 | -$502M | -$265M |
| Q1 2025 | -$746M | +$29M |
| Q4 2024 | -$510M | -$53M |
EXC has burned cash in almost every quarter: −$2.6B over the past year, against −$1.6B the year before.
EXC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.9% | +9M shares |
| 1 year | +2.4% | +24M shares |
| 3 years | +4% | +40M shares |
| 5 years | +5.8% | +57M shares |
| Available history | +6.5% | +63M shares |
EXC has 1B diluted shares, up 2.4% from a year ago.
EXC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.7x | High |
| Q2 2026 | 5.6x | High |
| Q1 2026 | 5.6x | High |
| Q4 2025 | 5.6x | High |
| Q3 2025 | 5.5x | High |
| Q2 2025 | 5.7x | High |
| Q1 2025 | 5.6x | High |
| Q4 2024 | 5.8x | High |
EXC's net debt is about 5.7 years of its operating earnings (EBITDA), up from 5.5 years a year ago.
EXC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.9 | Neutral |
| Stochastic | 77.9 | Neutral |
EXC's weekly RSI is 54 (neutral) and its Stochastic is 78 (neutral).
EXC PE vs Utilities Sector
| Metric | EXC | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 20x | 13% below |
| PE % | 59 | 44 | 15 pts above |
EXC is trading at 18x earnings, a 13% discount to the Utilities sector's median of 20x.
EXC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $43.5 | 4.8% above |
| 20 week MA | $44.5 | 2.5% above |
| 50 week MA | $45.5 | 0.4% above |
| 100 week MA | $44.6 | 2.3% above |
| 200 week MA | $41.7 | 9.4% above |
EXC is in an uptrend: it's above all five of its weekly moving averages, and 9.4% above its 200-week average.
EXC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.4 | $29.8 | -7.9% |
| 2021 | $29.8 | $38.9 | +30% |
| 2022 | $38.9 | $43.0 | +11% |
| 2023 | $43.0 | $35.9 | -17% |
| 2024 | $35.9 | $37.4 | +4.3% |
| 2025 | $37.4 | $43.6 | +16% |
| 2026 YTD | $43.6 | $45.6 | +4.8% |
EXC has finished higher in four of the last six years. It's up 4.8% so far in 2026.