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 46 industry peers in the Electric Utilities industry. While EXC is still in line with the averages on profitability rating, there are concerns on its financial health. EXC is not valued too expensively and it also shows a decent growth rate. EXC also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
EXC had positive earnings in the past year.
EXC had a positive operating cash flow in the past year.
In the past 5 years EXC has always been profitable.
EXC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
EXC has a Return On Assets (2.48%) which is comparable to the rest of the industry.
With a decent Return On Equity value of 9.82%, EXC is doing good in the industry, outperforming 60.87% of the companies in the same industry.
EXC has a Return On Invested Capital of 4.12%. This is in the better half of the industry: EXC outperforms 65.22% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EXC is significantly below the industry average of 45.26%.
The last Return On Invested Capital (4.12%) for EXC is above the 3 year average (3.67%), which is a sign of increasing profitability.
| 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 in line with its industry, outperforming 47.83% of the companies in the same industry.
EXC's Profit Margin has improved in the last couple of years.
EXC has a Operating Margin (19.97%) which is in line with its industry peers.
In the last couple of years the Operating Margin of EXC has grown nicely.
EXC has a Gross Margin (62.89%) which is in line with its industry peers.
In the last couple of years the Gross Margin of EXC has remained more or less at the same level.
| 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.
The number of shares outstanding for EXC has been increased compared to 1 year ago.
Compared to 5 years ago, EXC has more shares outstanding
EXC has about the same debt/assets ratio as last year.
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.
A Debt/Equity ratio of 1.70 is on the high side and indicates that EXC has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.70, EXC is in line with its industry, outperforming 50.00% 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
WACC6.36%
2.3 Liquidity
A Current Ratio of 1.09 indicates that EXC should not have too much problems paying its short term obligations.
With a decent Current ratio value of 1.09, EXC is doing good in the industry, outperforming 78.26% of the companies in the same industry.
A Quick Ratio of 0.98 indicates that EXC may have some problems paying 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 76.09% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.09 | ||
| Quick Ratio | 0.98 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 16.10% over the past year.
The Earnings Per Share has been decreasing by -4.94% on average over the past years.
EXC shows a small growth in Revenue. In the last year, the Revenue has grown by 6.72%.
Measured over the past years, EXC shows a decrease in Revenue. The Revenue has been decreasing by -7.73% on average per year.
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
EXC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.22% yearly.
The Revenue is expected to grow by 4.18% on average over the next years.
EPS Next Y8.68%
EPS Next 2Y6.71%
EPS Next 3Y6.66%
EPS Next 5Y6.22%
Revenue Next Year9.65%
Revenue Next 2Y5.96%
Revenue Next 3Y4.77%
Revenue Next 5Y4.18%
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
Based on the Price/Earnings ratio of 16.13, the valuation of EXC can be described as correct.
Based on the Price/Earnings ratio, EXC is valued a bit cheaper than the industry average as 69.57% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.03, EXC is valued a bit cheaper.
EXC is valuated correctly with a Price/Forward Earnings ratio of 15.52.
Based on the Price/Forward Earnings ratio, EXC is valued a bit cheaper than 67.39% of the companies in the same industry.
EXC's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.94.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.13 | ||
| Fwd PE | 15.52 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of EXC indicates a somewhat cheap valuation: EXC is cheaper than 67.39% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 10.88 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates EXC does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of EXC may justify a higher PE ratio.
PEG (NY)1.86
PEG (5Y)N/A
EPS Next 2Y6.71%
EPS Next 3Y6.66%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.68%, EXC has a reasonable but not impressive dividend return.
EXC's Dividend Yield is a higher than the industry average which is at 3.45.
EXC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.68% |
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 its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)0.95%
Div Incr Years3
Div Non Decr Years10
5.3 Sustainability
57.05% of the earnings are spent on dividend by EXC. 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%
44.19
-0.07 (-0.16%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)
Earnings (Next)
Inst Owners85.83%
Inst Owner Change0.91%
Ins Owners0.08%
Ins Owner Change6.39%
Market Cap44.61B
Analysts72.17
Price Target48.93 (10.73%)
Short Float %1.9%
Short Ratio2.22
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.68% |
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)6.33%
PT rev (3m)10.98%
EPS NQ rev (1m)-18.82%
EPS NQ rev (3m)-18.97%
EPS NY rev (1m)0.16%
EPS NY rev (3m)1.3%
Revenue NQ rev (1m)5.73%
Revenue NQ rev (3m)-1.71%
Revenue NY rev (1m)0.97%
Revenue NY rev (3m)5.29%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.13 | ||
| Fwd PE | 15.52 | ||
| P/S | 1.88 | ||
| P/FCF | N/A | ||
| P/OCF | 7.72 | ||
| P/B | 1.62 | ||
| P/tB | 2.13 | ||
| EV/EBITDA | 10.88 |
EPS(TTM)2.74
EY6.2%
EPS(NY)2.85
Fwd EY6.44%
FCF(TTM)-1.48
FCFYN/A
OCF(TTM)5.72
OCFY12.95%
SpS23.48
BVpS27.35
TBVpS20.78
PEG (NY)1.86
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
WACC6.36%
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 5Y6.22%
Revenue 1Y (TTM)6.72%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%11.1%
Revenue Next Year9.65%
Revenue Next 2Y5.96%
Revenue Next 3Y4.77%
Revenue Next 5Y4.18%
EBIT growth 1Y17.68%
EBIT growth 3Y17.1%
EBIT growth 5Y-0.16%
EBIT Next Year100.47%
EBIT Next 3Y32.29%
EBIT Next 5Y21.51%
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%