Exelon (EXC)
Market Price (12/4/2025): $44.54 | Market Cap: $45.0 BilSector: Utilities | Industry: Electric Utilities
Exelon (EXC)
Market Price (12/4/2025): $44.54Market Cap: $45.0 BilSector: UtilitiesIndustry: Electric Utilities
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Megatrend and thematic driversMegatrends include Sustainable Infrastructure, Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Smart Grid Technologies, Show more. |
| Megatrend and thematic driversMegatrends include Sustainable Infrastructure, Smart Grids & Grid Modernization, and Electrification of Everything. Themes include Smart Grid Technologies, Show more. |
Valuation, Metrics & Events
EXC Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Exelon (EXC) experienced a notable upward movement, closely aligning with the reported 2.9% increase, primarily driven by strong third-quarter earnings and strategic financial announcements. The most significant catalyst for this movement occurred around November 4, 2025, following the release of its Q3 2025 financial results.
1. Exelon Exceeded Q3 2025 Earnings and Revenue Expectations.
On November 4, 2025, Exelon reported third-quarter 2025 earnings per share (EPS) of $0.86, outperforming analysts' consensus estimates, which ranged from $0.69 to $0.78 per share. Additionally, the company's revenue of $6.71 billion surpassed projections of approximately $6.40 billion to $6.49 billion. This strong financial performance prompted an immediate positive reaction in pre-market trading, with the stock increasing by 2.81%.
2. The Company Reaffirmed Robust Full-Year and Long-Term Financial Guidance.
Exelon reaffirmed its full-year 2025 adjusted operating earnings guidance, set between $2.64 and $2.74 per share, and reiterated its long-term operating EPS compounded annual growth rate of 5-7% from 2024 to 2028. This consistent outlook demonstrated management's confidence in future performance and provided stability for investors.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EXC Return | -4% | 41% | 9% | -14% | 9% | 24% | 72% |
| Peers Return | 1% | 5% | 1% | 3% | 23% | 19% | 61% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| EXC Win Rate | 58% | 58% | 67% | 42% | 67% | 70% | |
| Peers Win Rate | 23% | 20% | 39% | 32% | 35% | 48% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| EXC Max Drawdown | -34% | -9% | -12% | -17% | -6% | -1% | |
| Peers Max Drawdown | -12% | -3% | -5% | -12% | -5% | -6% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: ES, IMSR, ONE, CEG, SO. See EXC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)
How Low Can It Go
| Event | EXC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -29.3% | -25.4% |
| % Gain to Breakeven | 41.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -40.5% | -33.9% |
| % Gain to Breakeven | 68.0% | 51.3% |
| Time to Breakeven | 539 days | 148 days |
| 2018 Correction | ||
| % Loss | -15.1% | -19.8% |
| % Gain to Breakeven | 17.8% | 24.7% |
| Time to Breakeven | 141 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -56.2% | -56.8% |
| % Gain to Breakeven | 128.2% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1480 days |
Compare to ES, IMSR, ONE, CEG, SO
In The Past
Exelon's stock fell -29.3% during the 2022 Inflation Shock from a high on 4/20/2022. A -29.3% loss requires a 41.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
| Title | Topic | Date | |
|---|---|---|---|
| DASHBOARDS | |||
| How Low Can Exelon Stock Really Go? | Return | ||
| Exelon vs Cheniere Energy: Which Is A Better Investment? | Counter-Intuitive Comparisons | ||
| Exelon vs Eversource Energy: Which Is A Better Investment? | Counter-Intuitive Comparisons | ||
| null | |||
| Better Bet Than EXC Stock: Pay Less Than Exelon To Get More From OKE, CCL | |||
| Better Bet Than EXC Stock: Pay Less Than Exelon To Get More From BIPC | |||
| EXC Dip Buy Analysis | |||
| Exelon Total Shareholder Return (TSR): 12.5% in 2024 and 4.3% 3-yr compounded annual returns (above peer average) | |||
| Exelon (EXC) Operating Cash Flow Comparison | Financials | ||
| Exelon (EXC) Net Income Comparison | Financials | ||
| ARTICLES | |||
| Better Bet Than Duke Energy Stock: Pay Less To Get More From EXC | August 9th, 2025 | ||
| Better Bet Than NextEra Energy Stock: Pay Less To Get More From Industry Peers | July 16th, 2025 | ||
| Is Exelon Stock A Bargain Compared To Public Service Enterprise Group? | November 5th, 2020 |
Trade Ideas
Select past ideas related to EXC. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | PEG | Public Service Enterprise | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.7% | -0.7% | -0.7% |
| 09262025 | PCG | PG&E | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 2.5% | 2.5% | 0.0% |
| 09052025 | AES | AES | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 9.3% | 9.3% | -3.2% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | PEG | Public Service Enterprise | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.7% | -0.7% | -0.7% |
| 09262025 | PCG | PG&E | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 2.5% | 2.5% | 0.0% |
| 09052025 | AES | AES | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 9.3% | 9.3% | -3.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Exelon
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Financials
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Valuation
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Returns
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Segment Financials
Assets by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Commonwealth Edison Company (ComEd) | 42,827 | 39,661 | 36,470 | 34,466 | 32,765 |
| PECO Energy Company (PECO) | 15,595 | 14,502 | 13,824 | 12,531 | 11,469 |
| Baltimore Gas and Electric Company (BGE) | 14,184 | 13,350 | 12,324 | 11,650 | 10,634 |
| Potomac Electric Power Company (Pepco) | 11,194 | 10,657 | 9,903 | 9,264 | 8,661 |
| Other | 6,374 | 6,014 | 7,634 | 9,005 | 8,484 |
| Delmarva Power & Light Company (DPL) | 5,966 | 5,802 | 5,412 | 5,140 | 4,830 |
| Atlantic City Electric Company (ACE) | 5,157 | 4,979 | 4,556 | 4,286 | 3,933 |
| Other-Pepco Holdings LLC (PHI) | 4,627 | 4,677 | 4,933 | 5,079 | 5,335 |
| Intersegment Eliminations-Pepco Holdings LLC (PHI) | -41 | -33 | -60 | -33 | -40 |
| Intersegment Eliminations | -4,337 | -4,260 | -8,319 | -10,165 | -10,089 |
| Exelon Generation Company, LLC (Generation) | 48,094 | 48,995 | |||
| Total | 101,546 | 95,349 | 86,677 | 129,317 | 124,977 |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11042025 | 10-Q 9/30/2025 |
| 6302025 | 7312025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2122025 | 10-K 12/31/2024 |
| 9302024 | 10302024 | 10-Q 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 5022024 | 10-Q 3/31/2024 |
| 12312023 | 2212024 | 10-K 12/31/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 8022023 | 10-Q 6/30/2023 |
| 3312023 | 5032023 | 10-Q 3/31/2023 |
| 12312022 | 2142023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 9/30/2022 |
| 6302022 | 8032022 | 10-Q 6/30/2022 |
| 3312022 | 5092022 | 10-Q 3/31/2022 |
| 12312021 | 2252022 | 10-K 12/31/2021 |
External Quote Links
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