EXELON CORP (EXC) Stock Fundamental Analysis
NASDAQ:EXC - Nasdaq - US30161N1019 - Common Stock - Currency: USD
EXC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 47 industry peers in the Electric Utilities industry. EXC has a medium profitability rating, but doesn't score so well on its financial health evaluation. While showing a medium growth rate, EXC is valued expensive at the moment. Finally EXC also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year EXC was profitable.
In the past year EXC had a positive cash flow from operations.
EXC had positive earnings in each of the past 5 years.
EXC had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
EXC's Return On Assets of 2.39% is on the low side compared to the rest of the industry. EXC is outperformed by 70.21% of its industry peers.
EXC has a Return On Equity (9.61%) which is in line with its industry peers.
EXC's Return On Invested Capital of 4.11% is in line compared to the rest of the industry. EXC outperforms 44.68% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EXC is in line with the industry average of 5.09%.
The 3 year average ROIC (3.67%) for EXC is below the current ROIC(4.11%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.39% | ||
| ROE | 9.61% | ||
| ROIC | 4.11% |
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
EXC has a worse Profit Margin (11.16%) than 63.83% of its industry peers.
EXC's Profit Margin has improved in the last couple of years.
EXC has a Operating Margin (20.00%) which is comparable to the rest of the industry.
In the last couple of years the Operating Margin of EXC has grown nicely.
The Gross Margin of EXC (63.39%) is comparable to the rest of the industry.
EXC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 20% | ||
| PM (TTM) | 11.16% | ||
| GM | 63.39% |
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.
EXC has more shares outstanding than it did 1 year ago.
The number of shares outstanding for EXC has been increased compared to 5 years ago.
Compared to 1 year ago, EXC has about the same debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.76, we must say that EXC is in the distress zone and has some risk of bankruptcy.
EXC has a Altman-Z score of 0.76. This is comparable to the rest of the industry: EXC outperforms 42.55% of its industry peers.
A Debt/Equity ratio of 1.70 is on the high side and indicates that EXC has dependencies on debt financing.
EXC has a Debt to Equity ratio of 1.70. This is in the lower half of the industry: EXC underperforms 65.96% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.76 |
ROIC/WACC0.65
WACC6.3%
2.3 Liquidity
EXC has a Current Ratio of 0.95. This is a bad value and indicates that EXC is not financially healthy enough and could expect problems in meeting its short term obligations.
EXC's Current ratio of 0.95 is in line compared to the rest of the industry. EXC outperforms 59.57% of its industry peers.
EXC has a Quick Ratio of 0.95. This is a bad value and indicates that EXC is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Quick ratio value of 0.85, EXC is doing good in the industry, outperforming 61.70% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.95 | ||
| Quick Ratio | 0.85 |
3. Growth
3.1 Past
EXC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 9.92%, which is quite good.
EXC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -4.94% yearly.
Looking at the last year, EXC shows a small growth in Revenue. The Revenue has grown by 4.46% in the last year.
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)9.92%
EPS 3Y-3.94%
EPS 5Y-4.94%
EPS Q2Q%-17.02%
Revenue 1Y (TTM)4.46%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%1.23%
3.2 Future
EXC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.80% yearly.
Based on estimates for the next years, EXC will show a small growth in Revenue. The Revenue will grow by 4.74% on average per year.
EPS Next Y8.83%
EPS Next 2Y6.69%
EPS Next 3Y6.54%
EPS Next 5Y6.8%
Revenue Next Year10.06%
Revenue Next 2Y6.71%
Revenue Next 3Y5.56%
Revenue Next 5Y4.74%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 16.82, EXC is valued correctly.
EXC's Price/Earnings ratio is in line with the industry average.
The average S&P500 Price/Earnings ratio is at 26.85. EXC is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 15.72, the valuation of EXC can be described as correct.
EXC's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of EXC to the average of the S&P500 Index (34.98), we can say EXC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.82 | ||
| Fwd PE | 15.72 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of EXC is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 10.91 |
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)1.91
PEG (5Y)N/A
EPS Next 2Y6.69%
EPS Next 3Y6.54%
5. Dividend
5.1 Amount
EXC has a Yearly Dividend Yield of 3.58%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 3.46, EXC pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.36, EXC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.58% |
5.2 History
The dividend of EXC has a limited annual growth rate of 0.95%.
EXC has been paying a dividend for at least 10 years, so it has 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
EXC pays out 59.22% 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.
DP59.22%
EPS Next 2Y6.69%
EPS Next 3Y6.54%
44.74
+0.74 (+1.68%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)
Earnings (Next)
Inst Owners87.67%
Inst Owner Change1.24%
Ins Owners0.09%
Ins Owner Change0.65%
Market Cap45.17B
Analysts70.91
Price Target48.43 (8.25%)
Short Float %2.03%
Short Ratio3.45
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.58% |
Yearly Dividend1.52
Dividend Growth(5Y)0.95%
DP59.22%
Div Incr Years3
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)4.46%
Min EPS beat(2)3.88%
Max EPS beat(2)5.04%
EPS beat(4)4
Avg EPS beat(4)5.37%
Min EPS beat(4)3.88%
Max EPS beat(4)7.19%
EPS beat(8)6
Avg EPS beat(8)4.6%
EPS beat(12)9
Avg EPS beat(12)3.9%
EPS beat(16)10
Avg EPS beat(16)2.56%
Revenue beat(2)1
Avg Revenue beat(2)0.41%
Min Revenue beat(2)-0.13%
Max Revenue beat(2)0.95%
Revenue beat(4)3
Avg Revenue beat(4)4.78%
Min Revenue beat(4)-0.13%
Max Revenue beat(4)14.22%
Revenue beat(8)7
Avg Revenue beat(8)9.94%
Revenue beat(12)10
Avg Revenue beat(12)8.77%
Revenue beat(16)13
Avg Revenue beat(16)5.93%
PT rev (1m)-0.3%
PT rev (3m)-1.02%
EPS NQ rev (1m)6.11%
EPS NQ rev (3m)-1.86%
EPS NY rev (1m)0%
EPS NY rev (3m)0.14%
Revenue NQ rev (1m)-0.37%
Revenue NQ rev (3m)-0.34%
Revenue NY rev (1m)-0.14%
Revenue NY rev (3m)0.37%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.82 | ||
| Fwd PE | 15.72 | ||
| P/S | 1.9 | ||
| P/FCF | N/A | ||
| P/OCF | 7.75 | ||
| P/B | 1.64 | ||
| P/tB | 2.15 | ||
| EV/EBITDA | 10.91 |
EPS(TTM)2.66
EY5.95%
EPS(NY)2.85
Fwd EY6.36%
FCF(TTM)-1.75
FCFYN/A
OCF(TTM)5.77
OCFY12.9%
SpS23.54
BVpS27.36
TBVpS20.79
PEG (NY)1.91
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.39% | ||
| ROE | 9.61% | ||
| ROCE | 4.66% | ||
| ROIC | 4.11% | ||
| ROICexc | 4.14% | ||
| ROICexgc | 4.43% | ||
| OM | 20% | ||
| PM (TTM) | 11.16% | ||
| GM | 63.39% | ||
| 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-Score6
Asset Turnover0.21
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.7 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.61 | ||
| Cap/Depr | 209.21% | ||
| Cap/Sales | 31.94% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 69.51% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.95 | ||
| Quick Ratio | 0.85 | ||
| Altman-Z | 0.76 |
F-Score6
WACC6.3%
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)9.92%
EPS 3Y-3.94%
EPS 5Y-4.94%
EPS Q2Q%-17.02%
EPS Next Y8.83%
EPS Next 2Y6.69%
EPS Next 3Y6.54%
EPS Next 5Y6.8%
Revenue 1Y (TTM)4.46%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%1.23%
Revenue Next Year10.06%
Revenue Next 2Y6.71%
Revenue Next 3Y5.56%
Revenue Next 5Y4.74%
EBIT growth 1Y12.55%
EBIT growth 3Y17.1%
EBIT growth 5Y-0.16%
EBIT Next Year99.75%
EBIT Next 3Y32.06%
EBIT Next 5Y20.8%
FCF growth 1Y55.16%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y71.81%
OCF growth 3Y22.74%
OCF growth 5Y-3.51%