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Exelon Corporation — Intrinsic Value & Fair Price

EXC
NASDAQUtilitiesRegulated ElectricCIK 0001109357exeloncorp.comAbout EXC
Last close · Oct 16, 202643.50+1.02 (+2.40%)
Market cap$44.8B
Model value · P/E · own history
50.19
Exelon closed at $43.50 — undervalued by 13% vs model.
46.20the model's range53.99

P/E · own history leads for a regulated utility. From its own five-year median P/E applied to its earnings.

Other models
28.29 – 116.86
Wall St. target
49.00 11% below
Below model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
3.82%
Past 2 years
low 3.22%high 4.20%
Dividends per share, a year at a time
$1.09Aug ’21$1.29Aug ’22$1.42Aug ’23$1.50Aug ’24$1.58Aug ’25$1.66TTM
Coverage
—
Raised
4 years in a row
Growth, 5 yrs
8.7% a year
Last change
+5.0% · Mar 2026
Every payment, with ex-dates · latest $0.42, paid Sep 15, 2026

Research on EXC

No posts on EXC yet.
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How it is valued

Valued asRegulated utility
Low/slowing growth (~6% recent)Moderate margins (11% net margin)Strong dividend yieldHighly cyclical earningsNegative free cash flow
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for utilities
P/E
—
EV / EBITDA
10.4×
FCF yield
-5.2%
Dividend yield, TTM
3.82%
Beta
0.39
Cost of capital (WACC)
5.82%
Full financials

Analyst actions

third-party, quoted
10-13Keybanc · “Sector Weight” from “Underweight”upgrade
09-22Argus Research · target49.00
09-18Morgan Stanley · target50.00
08-13Truist Financial · target48.00
Ratings, targets and estimates

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just EXC. No account.

About Exelon

Exelon Corporation, a utility holding company established in 1999 and headquartered in Chicago, Illinois, operates across the United States and Canada. The company primarily focuses on the generation, delivery, and marketing of energy. It maintains a diverse portfolio of power production facilities, utilizing nuclear, fossil fuel, wind, hydroelectric, biomass, and solar technologies. Exelon engages in the sale of electricity to both wholesale and retail clients, while also providing natural gas, renewable energy solutions, and various other energy-related products and services. Beyond generation, the corporation manages the regulated procurement and direct sale of electricity and natural gas to consumers, alongside overseeing the essential transmission and distribution infrastructure for both power and natural gas. To support its extensive operations, Exelon provides a wide array of internal services, including legal counsel, human resources, information technology, financial management, supply chain, accounting, engineering, customer support, infrastructure planning, asset management, system operations, and power acquisition. The company caters to a broad customer base, which includes distribution utilities, municipal entities, cooperatives, financial institutions, and commercial, industrial, governmental, and residential sectors.

CEO
Calvin G. Butler Jr.
Headquarters
Chicago, IL
Employees
20,571
IPO
1973-05-02
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.