Exelon (EXC)
Forward P/E is 15.24x against a peer median of 16.25x, a ratio of 0.94x — inside the 0.90–1.15 fairly priced band — with trailing P/E 16.52x and PEG 2.38. Latest-quarter revenue grew 7.9% year over year (PRIMARY, EDGAR), close to the peer pace, but the PEG above 2 stops a move to undervalued. Delivered demand check: the electric utilities group's median growth was 8.0% year over year — demand rising, and Exelon is growing almost in line with it.
What would change this label: Move to UNDERVALUED if the forward P/E compresses to about 14.6x or below (0.90x the peer median) at unchanged estimates and the PEG falls to about 1.2 or below. Move to OVERVALUED if the forward P/E rises above about 18.7x (1.15x the peer median) without faster growth, or if revenue growth falls to 0% or below for two quarters.
Exelon delivers electricity to millions of homes and businesses. Its shares trade a little below similar utilities, at about 15 times expected earnings, while sales grew about 8%. That looks fairly priced — a small discount, but not cheap enough to call a bargain.
Both lines start at 100 on 2020-09-01. Over the full window Exelon returned +73.29% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for Exelon: -33.1% (2022-04-20 to 2024-02-05). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 15.24x against a peer median of 16.25x, a ratio of 0.94x — inside the 0.90–1.15 fairly priced band — with trailing P/E 16.52x and PEG 2.38. Latest-quarter revenue grew 7.9% year over year (PRIMARY, EDGAR), close to the peer pace, but the PEG above 2 stops a move to undervalued. Delivered demand check: the electric utilities group's median growth was 8.0% year over year — demand rising, and Exelon is growing almost in line with it. The company’s forward P/E is 15.2× against a peer median of 16.2×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the electric utilities group's median latest-quarter revenue growth was 8.0% year over year (SEC filings) — demand rising. Exelon grew 7.9%, almost exactly in line with that pace. Latest-quarter sales growth was +7.9% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| Exelon (EXC) | $44.93 | 15.2× | 16.5× |
| VST | $143.40 | 14.2× | 24.4× |
| ETR | $108.45 | 22.9× | 27.8× |
| WEC | $111.60 | 20.5× | 21.6× |
| PEG | $72.80 | 16.2× | 18.1× |
| FE | $46.78 | 16.1× | 22.6× |
| Peer median | 16.2× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
This company does not report a gross-profit line in its SEC facts (normal for banks, payment networks and some health insurers), so profit is shown as net income instead — gross margin is marked UNVERIFIED-absent rather than estimated.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Mar 2026 2026-03-31 | $7.2B | — | $919M | 0.90 | $-634M |
| Q/E Dec 2025 2025-12-31 | $5.4B | — | $594M | — | $-1.2B |
| Q/E Sep 2025 2025-09-30 | $6.7B | — | $875M | 0.86 | $163M |
| Q/E Jun 2025 2025-06-30 | $5.4B | — | $391M | 0.39 | $-502M |
| Q/E Mar 2025 2025-03-31 | $6.7B | — | $908M | 0.90 | $-746M |
| Q/E Dec 2024 2024-12-31 | $5.5B | — | $647M | — | $-510M |
| Q/E Sep 2024 2024-09-30 | $6.2B | — | $707M | 0.70 | $-6M |
| Q/E Jun 2024 2024-06-30 | $5.4B | — | $448M | 0.45 | $-237M |
| Q/E Mar 2024 2024-03-31 | $6.0B | — | $658M | 0.66 | $-775M |
| Q/E Dec 2023 2023-12-31 | $5.4B | — | $617M | — | $-457M |
| Q/E Sep 2023 2023-09-30 | $6.0B | — | $700M | 0.70 | $-324M |
| Q/E Jun 2023 2023-06-30 | $4.8B | — | $343M | 0.34 | $-527M |
The last twelve reported quarters. Full 23-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | EXELON CORP |
| Chief executive | Calvin Butler (source: https://www.blackenterprise.com/exelon-ceo-calvin-butler-speech-xcel-summit/) |
| Sector | Utilities — Electric Utilities — sells electricity delivery and transmission services to homes and businesses across several US states |
| Share price (Oct 28, 2026) | $44.93 |
| Market value (market cap) | $45.7B — share price times shares outstanding of 1,023,208,142 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $24.8B |
| Net income, last twelve months | $2.8B |
| Free cash flow, last twelve months | $-2.2B |
| Latest reported quarter | Q/E Mar 2026 (of 23 quarters in the data pack) |
| Six-year price return vs S&P 500 | +73.29% vs +118.28% |
| Worst peak-to-trough fall | -33.1% (2022-04-20 to 2024-02-05) |
What we could not verify
- Gross profit / gross margin: not tagged as a standalone line in this company's EDGAR company facts (common for banks, payment networks and some healthcare payers) — shown as UNVERIFIED-absent; the page charts revenue and net income instead.
- TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0001109357.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0001109357.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/EXC/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.