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Exelon Corporation (EXC) Fair Value & Analysis

Utilities · US · Market cap $47.9B

EC Exelon Corporation logo Exelon Corporation EXC · US
Price$45.32
Fair Value$41.78
Upside-7.8%
Quality48/100
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Weak Growth
Solidly profitable · 11.2% net margin
High debt · negative free cash flow
3.49% dividend yield
Mixed vs. peers (7/14)
Moderate moat 54/100
Evidence: High Range $29.24 – $57.49 Share as image

Fair value as of: Jul 15, 2026

From 16 valuation models · updated 23 days ago

Share price −4.7% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($29.24 to $57.49) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$49.82 $25.55 Fair Value $41.78 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range $25.55 – $49.82 · fair‑value band $29.24 – $57.49 · the $45.32 price screens above the $41.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Exelon Corporation (EXC) currently trades at $45.32, while our model-based Fair Value estimate is $41.78, implying the stock looks roughly 7.8% fairly valued today. We read business quality at 48/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Exelon Corporation generated revenue of $24.8B at a net margin of 11.2%. Revenue grew 7.9% year over year. It earns a return on equity of 9.8%. Net debt stands at $49.4B. Fundamentals as of Jul 15, 2026

Our scenario range runs from $29.24 (bear case) to $57.49 (bull case); at $45.32, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -27% fair-value upside, at -8%, EXC screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income $24.61 $27.13 $37.74 76
ROIC Compounder $4.59 $10.86 72
Gordon GGM $14.51 $30.17 $47.86 70
All 16 models by family
Earnings-Based
Graham-Dodd $18.40 $49.73 $65.14 54
Lynch FV $9.75 $13.93 $18.11 50
PEG = 1.0 $9.75 $13.93 $18.11 46
EPV $4.59 $10.86 59
Dividend Discount
Gordon GGM $14.51 $30.17 $47.86 70
DDM Multi-Stage $14.51 $22.62 $31.26 61
Multiples
P/E Multiple $40.58 $54.10 $67.63 63
P/S Multiple $34.49 $45.99 $57.49 58
P/B Multiple $34.49 $45.99 $57.49 55
EV/EBIT $22.28 $44.90 $67.52 53
EV/EBITDA $38.14 $66.05 $93.96 54
EV/Revenue $13.68 $31.46 43
Asset-Based
NCAV (Graham) $14.07 $18.86 $28.14 50
Economic Profit
Residual Income $24.61 $27.13 $37.74 76
ROIC Compounder $4.59 $10.86 72
Growth Earnings
Growth-Adj P/E $32.17 $45.95 $59.74 68

Widest divergence: Multiples ($45.99) versus Economic Profit ($4.59). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) $24.8B
Revenue growth (YoY) +7.9%
Net margin 11.2%
Return on equity 9.8%
Free cash flow −$2.3B FY2025
P/E ratio 16.4
More key figures
Operating margin 22.3%
EPS (TTM) $2.73
Dividend yield 3.6%
EPS growth (YoY) -0.3%
Net debt $49.4B FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 48/100

Of which business quality 38 · Market factors (momentum, volatility) 59

Profitability 28
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 12
Balance sheet, leverage, solvency risk
Investment 47
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 73
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Exelon Corporation reported revenue of $24.3B in FY2025 versus $17.9B in FY2021, a compound +7.8%/yr. Reported net income was $2.8B in FY2025, compounding +12.9%/yr from FY2021.

Growth Quality 19/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$24.3B
Latest YoY
+5.3%
Avg. growth/yr (3Y)
+8.3%
Avg. growth/yr (5Y)
−6.0%
Avg. growth/yr (40Y)
+5.4%
Revenue +7.8%/yr
FY21 $17.9B
FY22 $19.1B
FY23 $21.7B
FY24 $23.0B
FY25 $24.3B
Net income +12.9%/yr
FY21 $1.7B
FY22 $2.2B
FY23 $2.3B
FY24 $2.5B
FY25 $2.8B

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Cite: Fair Value Calculator (2026). "Exelon Corporation Fair Value". https://www.fairvalue-calculator.com/stock/EXC

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Utilities - Regulated Electric · 155 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 48 · Below median
Fair Value upside −8% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 3% · Below median
Net margin (TTM) 11% · Above median
Operating margin (TTM) 22% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 3.5% · Above median
Debt / equity 1.66× · Higher than 75% of peers

Valuation Multiples vs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 17.1× · Cheaper than median
P/B 1.66× · Pricier than median
P/S (TTM) 1.93× · Pricier than median
EV/EBITDA 11.5× · Pricier than median
PEG 2.69× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 23 · sector 9
FUTURE 40 · sector 32
PAST 39 · sector 39
HEALTH 17 · sector 53
DIVIDEND 70 · sector 56

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $88.80 $32.94 -63%
The Southern Company SO $95.61 $61.06 -36%
Duke Energy Corporation DUK $126.11 $97.11 -23%
National Grid plc NGG 61,175 ARS 44,377 ARS -27%
American Electric Power Company AEP $132.50 $79.33 -40%
Dominion Energy, Inc D $70.08 $46.92 -33%
NTPC Limited NTPC ₹341.85 ₹377.16 +10%
CEZ, a. s. CEZ 232.40 PLN 159.33 PLN -31%
Power Grid Corporation POWERGRID ₹283.55 ₹252.77 -11%
China National Nuclear Power Co 601985 ¥8.91 ¥7.69 -14%

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Frequently asked questions

Is Exelon Corporation (EXC) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of $41.78 versus a price of $45.32, about −8% (fairly valued).
What is the fair value of EXC?
Our model-based fair value for Exelon Corporation is $41.78 (as of Jul 15, 2026), built from audited fundamentals. The current price is $45.32.
What is the quality score of EXC?
Exelon Corporation has a Quality Score of 48/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Exelon Corporation (EXC)?
Exelon Corporation reported trailing-twelve-month revenue of about $24.8B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of EXC?
The net profit margin of Exelon Corporation is about 11.2%, meaning it keeps roughly 11.2% of revenue as net income. Based on the latest reported figures.
Does Exelon Corporation pay a dividend?
Exelon Corporation currently shows a dividend yield of about 3.62% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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