Exelon Corporation (EXC)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Exelon is the kind of regulated utility Graham would understand: it earns a return on a large asset base under state and federal oversight, serving customers who have few immediate alternatives. That regulatory compact is the moat, but it is not a wide, high-return moat. At the 2026-10-26 close of $44.54, FairStock's calculations show a P/E of 16.38, P/B of 1.55, ROE of 9.71%, ROCE of 2.81%, and a 3.99% dividend yield. The Graham Number is $42.00, so the price sits about 5.8% above that conservative reference. The Lynch category is Slow Grower, based on profit growth of 7.2% a year and revenue growth of 7.8% over five years, and the PEG of 12.76 shows little growth support for the multiple. The filed record is steady rather than dynamic. In fiscal 2025, the year ended 2025-12-31, revenue was $24.3B and net income $2.8B, compared with $23.0B and $2.5B in fiscal 2024, the year ended 2024-12-31. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $7.2B and net income $919M. But the balance sheet demands attention: D/E is 1.77, Altman Z is 0.48, Piotroski is 4/9, and trailing free cash flow is -$1.9B, a -4.2% FCF yield. Utilities often run negative free cash flow while investing, so that alone is not fatal, but it means debt and regulation do the heavy lifting. The price is not a bargain on Graham terms; I would call it fair-to-full for a slow-growing, leveraged regulated utility.

In plain English: Exelon is a regulated electric and gas utility that distributes power and gas to homes and businesses. The business is steady but heavily debt-financed, and it currently spends more cash than it generates; earnings growth has been modest. At $44.54, the shares look roughly fair to slightly expensive versus the company's earnings and accounting value, while the annual dividend is about 4% of the share price.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer