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Exelon Corporation (EXC) Stock

Exelon Corporation Stock Details, Movements and Public Alerts

Exelon Corporation (EXC): The $46B Regulated Utility Powering America's Mid-Atlantic Data Center Corridor

When data centers need reliable power in the Mid-Atlantic, Exelon answers. CEO Calvin Butler leads America's largest regulated utility serving 10+ million customers through ComEd (Chicago), PECO (Philadelphia), BGE (Baltimore), Pepco (D.C.), Delmarva, and Atlantic City Electric. The 2022 spinoff of generation assets (now Constellation Energy) created a pure-play transmission and distribution utility with 90%+ regulated earnings, predictable 5-7% rate base growth, and premium positioning in the AI data center corridor—Northern Virginia, Maryland, and New Jersey represent America's densest data center cluster requiring billions in grid investment. Trading at 14x forward earnings with a 3.9% dividend yield, Exelon offers utility investors steady 6-8% total returns: 5-7% earnings growth plus dividend yield. The risk is regulatory: six different state commissions with varying political priorities create execution complexity Amazon's or Google's data center expansion cannot solve alone.

52-Week Range

$48.09 - $34.68

-8.78% from high · +26.50% from low

Avg Daily Volume

6,187,172

20-day average

100-day avg: 6,134,374

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

15.44

Near market average

Forward P/E

15.13

Earnings expected to grow

PEG Ratio

1.96

Reasonably valued

Price to Book

1.55

EV/EBITDA

10.27

EPS (TTM)

$2.79

Price to Sales

1.79

Beta

0.55

Less volatile than market

How is EXC valued relative to its earnings and growth?
Exelon Corporation trades at a P/E ratio of 15.44, which is near the market average of approximately 20, suggesting the market views it as fairly valued relative to its earnings. Looking ahead, the forward P/E of 15.13 is lower than the current P/E, indicating analysts expect earnings to grow over the next year. The PEG ratio of 1.96 indicates reasonable value when growth is considered.
What is EXC's risk profile compared to the market?
With a beta of 0.55, Exelon Corporation is less volatile than the overall market. This means when the market moves up or down by 10%, this stock typically moves less than 10% in the same direction. Lower beta stocks are often preferred by conservative investors seeking stability. The price-to-book ratio of 1.55 shows investors value the company above its book value, which often reflects intangible assets or growth prospects.

Performance & Growth

Profit Margin

11.60%

Operating Margin

22.20%

EBITDA

$8.03B

Return on Equity

10.30%

Return on Assets

2.85%

Revenue Growth (YoY)

9.00%

Earnings Growth (YoY)

22.90%

How profitable and efficient is EXC's business model?
Exelon Corporation achieves a profit margin of 11.60%, meaning it retains $11.60 from every $100 in revenue after all expenses. This represents a solid margin typical of well-run businesses, showing the company can effectively balance revenue generation with cost control. The operating margin of 22.20% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at 10.30% and ROA at 2.85%, the company achieves moderate returns on invested capital.
What are EXC's recent growth trends?
Exelon Corporation's revenue grew by 9.00% year-over-year, showing steady progress in growing the business. This positive trajectory indicates the company maintains competitive positioning in its markets. Earnings increased by 22.90% year-over-year, outpacing revenue growth through improved margins. These growth metrics should be evaluated against UTILITIES - REGULATED ELECTRIC industry averages for proper context.

Dividend Information

Dividend Per Share

$1.58

Dividend Yield

3.65%

Ex-Dividend Date

Nov 10, 2025

Dividend Date

Dec 15, 2025

What dividend income can investors expect from EXC?
Exelon Corporation offers a dividend yield of 3.65%, paying $1.58 per share annually. This above-average yield of 2-4% provides meaningful income while still allowing the company to reinvest for growth. It compares favorably to the S&P 500 average and offers competitive returns versus bonds in the current rate environment. To receive the next dividend, shares must be purchased before the ex-dividend date of Nov 10, 2025.
How reliable is EXC's dividend for long-term investors?
The dividend sustainability can be assessed through the payout ratio - Exelon Corporation pays $1.58 per share in dividends against earnings of $2.79 per share, resulting in a payout ratio of 56.63%. This balanced payout between 30-60% suggests a sustainable dividend policy that allows both shareholder returns and business reinvestment. The dividend appears well-covered by earnings. The next dividend payment is scheduled for Dec 15, 2025.

Company Size & Market

Market Cap

$43.5B

Revenue (TTM)

$24.32B

Revenue/Share (TTM)

$24.10

Shares Outstanding

1.01B

Book Value/Share

$27.83

Asset Type

Common Stock

What is EXC's market capitalization and position?
Exelon Corporation has a market capitalization of $43.5B, classifying it as a large-cap stock ($10B-$200B). Large-caps are typically industry leaders with established business models, offering a balance of stability and growth potential. They often provide dividend income and are core holdings in institutional portfolios. With 1.01B shares outstanding, the company's ownership is widely distributed. As a participant in the UTILITIES - REGULATED ELECTRIC industry, it competes with other firms in this sector.
How does EXC's price compare to its book value?
Exelon Corporation's book value per share is $27.83, while the current stock price is $43.87, resulting in a price-to-book (P/B) ratio of 1.58. This reasonable premium to book value suggests the market values the company's earnings power and intangible assets appropriately. Most profitable companies trade between 1-3x book value. As a common stock, this represents equity ownership with voting rights.

Analyst Ratings

Analyst Target Price

$49.75

13.40% upside potential

Analyst Recommendations

Strong Buy

1

Buy

7

Hold

9

Sell

2

Strong Sell

0

How reliable are analyst predictions for EXC?
19 analysts cover EXC with 42% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The mixed views reflect uncertainty about the outlook. The consensus target of $49.75 implies 13.4% upside, but targets are often adjusted to follow price moves rather than predict them.
What is the Wall Street consensus on EXC?
Current analyst recommendations:1 Strong Buy, 7 Buy, 9 Hold, 2 Sell, 0The neutral stance suggests uncertainty or fair valuation at current levels.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Dec 13, 2025, 08:26 AM

Technical Indicators

RSI (14-day)

76.28

Overbought

50-Day Moving Average

$44.22

-0.79% below MA-50

200-Day Moving Average

$42.65

2.86% above MA-200

MACD Line

0.55

MACD Signal

0.25

MACD Histogram

0.30

Bullish

What does EXC's RSI value tell investors?
The RSI (Relative Strength Index) for EXC is currently 76.28, indicating the stock is in overbought territory (above 70). This suggests strong recent buying pressure that may be unsustainable. While overbought conditions can persist in strong trends, traders often watch for RSI divergences or a drop below 70 as potential sell signals. Combined with the price being below the 50-day moving average, this shows mixed signals requiring careful analysis.
How should traders interpret EXC's MACD and moving average crossovers?
MACD analysis shows the MACD line at 0.55 above the signal line at 0.25, with histogram at 0.30. This bullish crossover suggests upward momentum is building. The 50-day MA ($44.22) is above the 200-day MA ($42.65), forming a golden cross pattern that typically signals a long-term uptrend. Price is currently between the MAs, suggesting transition.

Indicators last updated: Oct 8, 2025, 12:32 AM

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Exelon Corporation (EXC) Stock Analysis 2025: Complete Investment Guide

From Generation Giant to Distribution Pure-Play

Exelon's 2022 transformation ranks among the decade's most significant utility restructurings. By spinning off its nuclear and merchant generation assets into Constellation Energy (CEG), Exelon became America's largest pure-play regulated utility—eliminating commodity exposure, simplifying the investment thesis, and unlocking value (combined market caps exceed pre-split by 40%+). CEO Calvin Butler now oversees six utilities across politically diverse jurisdictions: ComEd (Illinois), PECO (Pennsylvania), BGE (Maryland), Pepco (D.C./Maryland), Delmarva (Delaware/Maryland), and Atlantic City Electric (New Jersey). The portfolio serves 10+ million customers, owns 139,000+ miles of transmission/distribution infrastructure, and operates within PJM Interconnection—the wholesale electricity market supplying the data center-dense Mid-Atlantic region demanding unprecedented grid investment.

Business Model & Competitive Moat

Regulated utilities possess the ultimate moat: legal monopolies with guaranteed returns. Exelon's six utilities operate as sole electric providers in their territories, earning state-approved returns on invested capital (9-10% ROE) while passing fuel and purchased power costs to customers. The model generates predictable cash flows: capital investment grows rate base (the asset value earning regulated returns), which grows earnings 1:1 with investment. Exelon's strategic advantage beyond peer utilities is geographic: its PJM territory contains 70%+ of U.S. data center capacity (Northern Virginia, Maryland, New Jersey), where Amazon AWS, Microsoft Azure, and Google demand grid expansion faster than any other region. Every data center requiring 50-200 MW of power needs distribution infrastructure only Exelon can provide.

Financial Performance

  • •Revenue: $22B annually, growing 3-5% with rate base; 90%+ from regulated utility operations
  • •Earnings: $2.3-2.4B net income, $2.40-2.50 EPS; 5-7% annual growth guided through 2027
  • •Rate Base: $60B+ (2024), growing to $75B+ by 2027; $34B capital plan drives growth
  • •Dividend: $1.56/share annually (3.9% yield), 60-65% payout ratio; 5-6% annual growth target
  • •Balance Sheet: $45B debt, 65% debt/cap (utility standard); BBB credit rating, stable outlook

Growth Catalysts

  • •Data Center Grid Investment: PJM data center demand adding 15-20 GW through 2030; requires $10B+ distribution upgrades Exelon provides
  • •Grid Modernization: Smart meters, grid automation, EV charging infrastructure; $15B+ investment opportunity through 2030
  • •Rate Base Growth: $34B capital plan (2024-2027) earns 9-10% regulated returns; mechanical 5-7% earnings growth
  • •Constructive Regulation: Multi-year rate plans in most jurisdictions reduce regulatory lag, improve earnings visibility
  • •Inflation Protection: Pass-through mechanisms for fuel/purchased power; rate base growth inflation-indexed

Risks & Challenges

  • •Regulatory Risk: Six state commissions with varying political priorities; Illinois historically adversarial on rate cases
  • •Interest Rate Sensitivity: Utility valuations decline with rising rates; 10-year Treasury correlation -0.6
  • •Execution Complexity: Multi-state capital deployment requires coordinated regulatory approvals; delays possible
  • •ESG/Climate Transition: Distribution utilities less exposed than generators, but grid resilience investments required
  • •Customer Growth Limits: Mature territories with 0-1% customer growth; rate base expansion is primary driver

Competitive Landscape

Exelon competes for investor capital with utility peers Duke Energy ($90B market cap), Southern Company ($90B), Dominion Energy ($45B), and regional peers like PPL Corporation ($22B) and FirstEnergy ($25B). Exelon's differentiation is scale (10M+ customers, largest by count) and geography (PJM data center territory). Duke and Southern have larger rate bases but operate in slower-growth Southeast territories. Dominion's Virginia presence competes directly in data center corridors, but recent strategic pivots (offshore wind exit) created execution uncertainty. Calvin Butler's strategy emphasizes consistent 5-7% earnings growth versus peers chasing megaprojects—a 'boring is beautiful' thesis resonating with income-focused utility investors.

Who Is This Stock Suitable For?

Perfect For

  • ✓Income investors seeking 3.9% yield with 5-6% annual dividend growth
  • ✓Conservative portfolios wanting regulated utility exposure with AI/data center tailwind
  • ✓Retirees needing predictable income from essential service provider
  • ✓Defensive allocators hedging equity volatility with utility beta

Less Suitable For

  • ✗Growth investors seeking 10%+ annual appreciation
  • ✗Tax-sensitive investors (utility dividends fully taxable as ordinary income)
  • ✗Rising rate environments (utility valuations decline with higher Treasury yields)
  • ✗ESG-focused investors preferring renewable pure-plays

Investment Thesis

Exelon offers the classic regulated utility value proposition: predictable 6-8% total returns through 5-7% earnings growth plus 3.9% dividend yield. The investment case strengthens with data center positioning—PJM territory grid investment demand exceeds any other U.S. region as AI infrastructure buildout accelerates. Calvin Butler's consistent execution (achieved 5-7% guidance since spinoff) and multi-year rate plans across jurisdictions reduce regulatory uncertainty versus peers with contested rate cases.

The primary risk is interest rate sensitivity—utilities underperform when Treasury yields rise, as the 3.9% dividend competes with risk-free alternatives. However, data center-driven grid investment provides growth optionality absent in slower-growth utilities. At 14x forward earnings (in-line with utility peers), Exelon is fairly valued for its risk/return profile. Suitable for income-focused portfolios accepting utility-level volatility for dividend stability and modest growth.

Conclusion

Exelon is a HOLD/BUY for income investors seeking regulated utility exposure with AI/data center growth optionality. The 14x forward P/E is fair value for the risk profile, while 3.9% yield and 5-6% dividend growth meet income investor requirements. Data center positioning in PJM provides differentiation versus slower-growth utility peers. Accumulate for income portfolios; not suitable for growth-oriented strategies or rising rate environments.
Bull Case
$55 (18% upside) - Rate case wins, data center growth accelerates, rates decline boosting utility valuations
Base Case
$50 (8% upside) - 5-7% earnings growth, stable dividends, in-line utility multiple
Bear Case
$38 (18% downside) - Interest rates rise further, regulatory setbacks in Illinois, multiple compresses to 12x

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