EXELON CORP (EXC) Stock Fundamental Analysis
NASDAQ:EXC - Nasdaq - US30161N1019 - Common Stock - Currency: USD
Overall EXC gets a fundamental rating of 4 out of 10. We evaluated EXC against 47 industry peers in the Electric Utilities industry. There are concerns on the financial health of EXC while its profitability can be described as average. While showing a medium growth rate, EXC is valued expensive at the moment. EXC also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
EXC had positive earnings in the past year.
In the past year EXC had a positive cash flow from operations.
Each year in the past 5 years EXC has been profitable.
In the past 5 years EXC always reported a positive cash flow from operatings.
1.2 Ratios
EXC has a Return On Assets of 2.48%. This is in the lower half of the industry: EXC underperforms 68.09% of its industry peers.
Looking at the Return On Equity, with a value of 9.82%, EXC is in line with its industry, outperforming 51.06% of the companies in the same industry.
EXC has a Return On Invested Capital of 4.12%. This is comparable to the rest of the industry: EXC outperforms 48.94% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EXC is significantly below the industry average of 38.54%.
The 3 year average ROIC (3.67%) for EXC is below the current ROIC(4.12%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.48% | ||
| ROE | 9.82% | ||
| ROIC | 4.12% |
ROA(3y)2.28%
ROA(5y)1.93%
ROE(3y)8.98%
ROE(5y)7.59%
ROIC(3y)3.67%
ROIC(5y)3.02%
1.3 Margins
Looking at the Profit Margin, with a value of 11.43%, EXC is doing worse than 61.70% of the companies in the same industry.
In the last couple of years the Profit Margin of EXC has grown nicely.
EXC's Operating Margin of 19.97% is in line compared to the rest of the industry. EXC outperforms 46.81% of its industry peers.
In the last couple of years the Operating Margin of EXC has grown nicely.
Looking at the Gross Margin, with a value of 62.89%, EXC is in line with its industry, outperforming 57.45% of the companies in the same industry.
EXC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 19.97% | ||
| PM (TTM) | 11.43% | ||
| GM | 62.89% |
OM growth 3Y7.75%
OM growth 5Y8.21%
PM growth 3Y3.95%
PM growth 5Y4.61%
GM growth 3Y-3.86%
GM growth 5Y1.43%
2. Health
2.1 Basic Checks
EXC has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, EXC has more shares outstanding
EXC has more shares outstanding than it did 5 years ago.
The debt/assets ratio for EXC has remained at the same level compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.78, we must say that EXC is in the distress zone and has some risk of bankruptcy.
EXC has a Altman-Z score (0.78) which is comparable to the rest of the industry.
EXC has a Debt/Equity ratio of 1.70. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.70, EXC is doing worse than 65.96% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.78 |
ROIC/WACC0.65
WACC6.31%
2.3 Liquidity
A Current Ratio of 1.09 indicates that EXC should not have too much problems paying its short term obligations.
EXC has a Current ratio of 1.09. This is in the better half of the industry: EXC outperforms 68.09% of its industry peers.
EXC has a Quick Ratio of 1.09. This is a bad value and indicates that EXC is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.98, EXC is in the better half of the industry, outperforming 63.83% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.09 | ||
| Quick Ratio | 0.98 |
3. Growth
3.1 Past
EXC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 16.10%, which is quite good.
The Earnings Per Share has been decreasing by -4.94% on average over the past years.
Looking at the last year, EXC shows a small growth in Revenue. The Revenue has grown by 6.72% in the last year.
EXC shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -7.73% yearly.
EPS 1Y (TTM)16.1%
EPS 3Y-3.94%
EPS 5Y-4.94%
EPS Q2Q%35.29%
Revenue 1Y (TTM)6.72%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%11.1%
3.2 Future
The Earnings Per Share is expected to grow by 6.70% on average over the next years.
The Revenue is expected to grow by 4.88% on average over the next years.
EPS Next Y8.68%
EPS Next 2Y6.71%
EPS Next 3Y6.66%
EPS Next 5Y6.7%
Revenue Next Year10.13%
Revenue Next 2Y6.35%
Revenue Next 3Y5.11%
Revenue Next 5Y4.88%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 15.93, which indicates a correct valuation of EXC.
The rest of the industry has a similar Price/Earnings ratio as EXC.
The average S&P500 Price/Earnings ratio is at 26.60. EXC is valued slightly cheaper when compared to this.
The Price/Forward Earnings ratio is 15.33, which indicates a correct valuation of EXC.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EXC is on the same level as its industry peers.
When comparing the Price/Forward Earnings ratio of EXC to the average of the S&P500 Index (22.39), we can say EXC is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.93 | ||
| Fwd PE | 15.33 |
4.2 Price Multiples
EXC's Enterprise Value to EBITDA ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 10.8 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)1.84
PEG (5Y)N/A
EPS Next 2Y6.71%
EPS Next 3Y6.66%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.73%, EXC has a reasonable but not impressive dividend return.
EXC's Dividend Yield is a higher than the industry average which is at 3.54.
Compared to an average S&P500 Dividend Yield of 2.39, EXC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.73% |
5.2 History
The dividend of EXC has a limited annual growth rate of 0.95%.
EXC has paid a dividend for at least 10 years, which is a reliable track record.
EXC has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)0.95%
Div Incr Years3
Div Non Decr Years10
5.3 Sustainability
EXC pays out 57.05% of its income as dividend. This is a bit on the high side, but may be sustainable.
EXC's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP57.05%
EPS Next 2Y6.71%
EPS Next 3Y6.66%
43.64
+0.76 (+1.77%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)
Earnings (Next)
Inst Owners85.83%
Inst Owner Change0.93%
Ins Owners0.08%
Ins Owner Change5.36%
Market Cap44.06B
Analysts72.17
Price Target48.18 (10.4%)
Short Float %2.03%
Short Ratio2.3
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.73% |
Yearly Dividend1.52
Dividend Growth(5Y)0.95%
DP57.05%
Div Incr Years3
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.54%
Min EPS beat(2)3.88%
Max EPS beat(2)7.19%
EPS beat(4)4
Avg EPS beat(4)8.32%
Min EPS beat(4)3.88%
Max EPS beat(4)16.84%
EPS beat(8)6
Avg EPS beat(8)3.99%
EPS beat(12)8
Avg EPS beat(12)3.09%
EPS beat(16)10
Avg EPS beat(16)4.15%
Revenue beat(2)2
Avg Revenue beat(2)7.58%
Min Revenue beat(2)0.95%
Max Revenue beat(2)14.22%
Revenue beat(4)4
Avg Revenue beat(4)6.91%
Min Revenue beat(4)0.95%
Max Revenue beat(4)14.22%
Revenue beat(8)8
Avg Revenue beat(8)11.6%
Revenue beat(12)11
Avg Revenue beat(12)9.2%
Revenue beat(16)13
Avg Revenue beat(16)3.25%
PT rev (1m)-1.52%
PT rev (3m)5.55%
EPS NQ rev (1m)-5.91%
EPS NQ rev (3m)-16.72%
EPS NY rev (1m)0.16%
EPS NY rev (3m)-0.12%
Revenue NQ rev (1m)4.2%
Revenue NQ rev (3m)-0.78%
Revenue NY rev (1m)0.29%
Revenue NY rev (3m)1.97%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.93 | ||
| Fwd PE | 15.33 | ||
| P/S | 1.86 | ||
| P/FCF | N/A | ||
| P/OCF | 7.63 | ||
| P/B | 1.6 | ||
| P/tB | 2.1 | ||
| EV/EBITDA | 10.8 |
EPS(TTM)2.74
EY6.28%
EPS(NY)2.85
Fwd EY6.52%
FCF(TTM)-1.48
FCFYN/A
OCF(TTM)5.72
OCFY13.11%
SpS23.48
BVpS27.35
TBVpS20.78
PEG (NY)1.84
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.48% | ||
| ROE | 9.82% | ||
| ROCE | 4.67% | ||
| ROIC | 4.12% | ||
| ROICexc | 4.16% | ||
| ROICexgc | 4.45% | ||
| OM | 19.97% | ||
| PM (TTM) | 11.43% | ||
| GM | 62.89% | ||
| FCFM | N/A |
ROA(3y)2.28%
ROA(5y)1.93%
ROE(3y)8.98%
ROE(5y)7.59%
ROIC(3y)3.67%
ROIC(5y)3.02%
ROICexc(3y)3.69%
ROICexc(5y)3.04%
ROICexgc(3y)3.97%
ROICexgc(5y)3.26%
ROCE(3y)4.22%
ROCE(5y)3.47%
ROICexcg growth 3Y24.71%
ROICexcg growth 5Y2.2%
ROICexc growth 3Y24.25%
ROICexc growth 5Y2.12%
OM growth 3Y7.75%
OM growth 5Y8.21%
PM growth 3Y3.95%
PM growth 5Y4.61%
GM growth 3Y-3.86%
GM growth 5Y1.43%
F-Score7
Asset Turnover0.22
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.6 | ||
| Cap/Depr | 200.94% | ||
| Cap/Sales | 30.7% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 69.16% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.09 | ||
| Quick Ratio | 0.98 | ||
| Altman-Z | 0.78 |
F-Score7
WACC6.31%
ROIC/WACC0.65
Cap/Depr(3y)203.65%
Cap/Depr(5y)167.93%
Cap/Sales(3y)34.13%
Cap/Sales(5y)34.25%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)16.1%
EPS 3Y-3.94%
EPS 5Y-4.94%
EPS Q2Q%35.29%
EPS Next Y8.68%
EPS Next 2Y6.71%
EPS Next 3Y6.66%
EPS Next 5Y6.7%
Revenue 1Y (TTM)6.72%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%11.1%
Revenue Next Year10.13%
Revenue Next 2Y6.35%
Revenue Next 3Y5.11%
Revenue Next 5Y4.88%
EBIT growth 1Y17.68%
EBIT growth 3Y17.1%
EBIT growth 5Y-0.16%
EBIT Next Year102.91%
EBIT Next 3Y32.87%
EBIT Next 5Y21.4%
FCF growth 1Y57.58%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y61.73%
OCF growth 3Y22.74%
OCF growth 5Y-3.51%