Exelon (EXC) AI Stock Analysis

• Market Cap: $44.72B
• Dividend Yield: 3.48%
• Average Volume (3M): 9.74M
• Price to Earnings (P/E): 18.1
• Beta (1Y): 0.10
• Revenue Growth: 5.98%
• EPS Growth: 4.99%
• Country: US
• Employees: 20,014
• Sector: Utilities
• Sector Strength: 88
• Industry: Regulated Electric
• EPS (TTM): 2.45
• Shares Outstanding: 1,009,535,640
• 10 Day Avg. Volume: 13,374,100
• 30 Day Avg. Volume: 9,742,242
• PEG Ratio: 3.62
• Price to Book (P/B): N/A
• Price to Sales (P/S): 1.91
• Price to Cash Flow (P/CF): 7.70
• P/FCF Ratio: 6.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $45.50
• Price Target Upside: 0.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 13

Exelon scores well due to strong financial performance, positive technical indicators, and a fair valuation. The earnings call presents a promising outlook with significant planned investments and a credit rating upgrade. Despite challenges like regulatory hurdles and cash flow concerns, the company's strategic focus on growth and reliability supports its overall score.

Positive Factors

Capital Expenditure

EXC raised and extended its projected capital expenditure guidance to $38bn by 2028, reaffirmed its EPS and rate base growth guidance, and updated its financing plan.

Earnings Performance

Exelon reported Q4/full year 2024 operating earnings above consensus expectations and at the top end of the annual guidance range.

Negative Factors

Regulatory Challenges

Exelon is nearing the end of a heavy regulatory period which bluntly did not go well, and is working to improve the effective outcomes from the Commonwealth Edison Illinois and Pepco Maryland multi-year rate cases.

Return on Equity

EXC's consolidated earned ROE for the full year was at the low end of its target range and below the previous year's level.

Exelon Business Overview & Revenue Model

Company Description

Exelon Corporation (EXC) is one of the largest competitive energy providers in the United States, primarily engaged in the generation and distribution of electricity and natural gas. The company operates through several subsidiaries, including Exelon Generation, which focuses on power generation, and Exelon Utilities, which encompasses several regional electric and gas utilities, such as Commonwealth Edison, PECO Energy, and Baltimore Gas and Electric. Exelon is committed to delivering clean, reliable, and affordable energy to its customers and is a leader in reducing emissions from power generation.

How the Company Makes Money

Exelon makes money through a combination of regulated utility operations and competitive power generation. Its regulated utilities generate revenue by delivering electricity and natural gas to millions of customers across its service territories, with rates typically set by state public utility commissions. This provides a stable and predictable income stream. In addition to regulated operations, Exelon Generation earns revenue by selling electricity and natural gas in competitive wholesale and retail markets. The company operates a diverse fleet of power plants, including nuclear, natural gas, wind, and solar, allowing it to capitalize on market opportunities and optimize its energy production. Exelon also engages in energy trading and provides energy-related services and products, which contribute additional revenue streams.

Exelon Financial Statement Overview

Summary

Exelon demonstrates solid revenue growth and stable profitability margins. The financial health is further supported by improved debt management, as indicated by significantly reduced debt levels. However, there are concerns regarding operating efficiency and cash flow stability, highlighted by declining EBITDA margins and reduced operating cash flow.

Income Statement

Exelon shows a consistent growth in revenue, with a notable increase from $19.08 billion in 2022 to $23.03 billion in 2024, translating to a revenue growth rate of 6% from 2023 to 2024. The gross profit margin is strong at 42.9% in 2024, compared to 41.1% in 2023, indicating good cost control. The net profit margin remained stable, improving slightly from 10.7% in 2023 to 10.7% in 2024. However, a drop in EBITDA margin from 36.5% in 2023 to 19.0% in 2024 suggests potential operational cost increases or efficiency losses. Overall, the income statement demonstrates positive revenue growth and stable profitability, with some concern over declining EBITDA margins.

Balance Sheet

Exelon's balance sheet highlights a relatively healthy equity position with stockholders' equity increasing from $25.75 billion in 2023 to $26.92 billion in 2024. The debt-to-equity ratio stands at 0.49 in 2024, showing a manageable level of leverage. The equity ratio is strong, reflecting a solid foundation. However, the total assets are not available for 2024, preventing a full assessment. Notably, total debt decreased significantly from $44.01 billion in 2023 to $13.07 billion in 2024, improving the company's financial stability.

Cash Flow

Exelon experienced a positive shift in free cash flow from -$2.71 billion in 2023 to $518 million in 2024, indicating improved cash management. Operating cash flow decreased from $4.70 billion in 2023 to $2.71 billion in 2024, which might impact future liquidity if not addressed. The free cash flow to net income ratio improved, reflecting better cash generation relative to net income. The operating cash flow to net income ratio decreased, suggesting a potential risk in cash flow stability.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
23.03B	21.73B	19.08B	17.94B	33.04B
	Gross Profit
9.87B	8.93B	8.03B	7.01B	9.53B
	EBIT
4.32B	4.02B	3.31B	2.68B	3.94B
	EBITDA
8.18B	7.94B	7.38B	10.52B	9.54B
	Net Income Common Stockholders
2.46B	2.33B	2.17B	1.71B	1.96B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
357.00M	445.00M	407.00M	672.00M	663.00M
	Total Assets
107.78B	101.55B	95.35B	133.01B	129.32B
	Total Debt
13.07B	44.01B	40.05B	34.54B	39.33B
	Net Debt
13.07B	43.56B	39.64B	33.87B	38.67B
	Total Liabilities
80.86B	75.79B	70.61B	98.22B	94.45B
	Stockholders Equity
26.92B	25.75B	24.74B	34.39B	32.59B
Cash Flow		Free Cash Flow
518.00M	-2.71B	-2.28B	-4.97B	-3.81B
	Operating Cash Flow
2.71B	4.70B	4.87B	3.01B	4.24B
	Investing Cash Flow
-2.19B	-7.38B	-6.99B	-3.32B	-4.34B
	Financing Cash Flow
-579.00M	2.68B	1.59B	758.00M	145.00M

Exelon Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 45.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EXC, the sentiment is Positive. The current price of 45.12 is above the 20-day moving average (MA) of 44.72, above the 50-day MA of 43.36, and above the 200-day MA of 38.96, indicating a bullish trend. The MACD of 0.73 indicates Negative momentum. The RSI at 66.62 is Neutral, neither overbought nor oversold. The STOCH value of 91.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EXC.

Exelon Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DUK	77 Outperform	$90.38B	20.46	9.10%	3.58%	4.46%	54.09%
SO	77 Outperform	$96.30B	21.99	13.61%	3.28%	5.83%	10.23%
AEP	73 Outperform	$56.96B	18.33	11.37%	3.54%	2.76%	31.53%
EXC	72 Outperform	$44.72B	18.06	9.34%	3.48%	5.98%	4.99%
NEE	72 Outperform	$139.12B	20.03	14.24%	3.12%	26.91%	-6.43%
D	69 Neutral	$44.53B	21.44	7.91%	5.11%	-10.79%	18.04%
Sector *	65 Neutral	$11.78B	15.57	6.20%	4.58%	5.53%	-8.93%

Exelon Corporate Events

Exelon Appoints Cybersecurity Expert to Board of Directors

On March 10, 2025, Exelon appointed David DeWalt, a cybersecurity expert and CEO of NightDragon, to its Board of Directors. DeWalt’s extensive experience in technology and security is expected to enhance Exelon’s efforts in building an intelligent grid and ensuring the safety of operations and customer data amid a complex technology landscape.

Exelon Reports 2024 Financial Results and Future Plans

Exelon reported its fourth quarter and full year 2024 financial results, noting a GAAP net income of $0.64 per share and adjusted earnings of $2.50 per share for the year. The company plans to invest $38 billion over the next four years to enhance customer service and grid reliability, aiming for a 7.4% growth in rate base and a 5-7% annual earnings increase through 2028. Exelon also initiated a 2025 earnings guidance of $2.64-$2.74 per share and declared a quarterly dividend of $0.40 per share for the first quarter of 2025. The announcement reinforces Exelon’s commitment to operational excellence and economic growth, benefitting stakeholders through stable earnings and strategic investments.