Exelon CorporationEXC
NasdaqGS•Utilities•Utilities - Regulated Electric
Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States. The company is involved in the purchase and regulated retail sale of electricity and natural gas; transmission and distribution of electricity; and distribution of natural gas to retail customers. It serves residential, commercial, industrial, and public authorities and electric railroads customers. Exelon Corporation was incorporated in 1999 and is headquartered in Chicago, Illinois.
Exelon Corporation (EXC) reported trailing twelve months revenue of $24.79B as of March 2026, a 4.6% increase year-over-year. Quarterly revenue reached $7.24B, reflecting continued top-line momentum.
Exelon Corporation generated $2.78B in TTM net income, with quarterly EBITDA of $1.60B. The operating margin contracted from 22.9% to 22.2%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (22.2%) and net margin (12.7%) indicates moderate non-operating costs. Net margin has narrowed from 13.5% a year ago, reflecting increased costs or interest expense.
EXC trades at a P/E of 18.1x (in line with broad market averages) and a P/S of 2.0x. The price-to-book ratio of 1.7x reflects a moderate premium to book value.
The company reported negative free cash flow of $-634.00M, indicating cash consumption over the period. The balance sheet shows $117.55B in total assets with $47.86B in long-term debt against $29.32B in stockholders equity for a debt-to-equity ratio of 1.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~20.4%, suggesting durable pricing power and cost discipline.
ROE is positive at ~9.5% on average, adequate but below the threshold typically associated with wide moats.
Only 1 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~8.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~20.9% — no sign of cost or pricing stress.
Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.6 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding rose 2.3% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation