EXELON CORP (EXC) Stock Fundamental Analysis
NASDAQ:EXC - Nasdaq - US30161N1019 - Common Stock - Currency: USD
Overall EXC gets a fundamental rating of 3 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 has a expensive valuation and it also scores bad on growth. Finally 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.
In the past 5 years EXC has always been profitable.
Each year in the past 5 years EXC had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 2.28%, EXC is doing worse than 67.57% of the companies in the same industry.
The Return On Equity of EXC (9.14%) is comparable to the rest of the industry.
Looking at the Return On Invested Capital, with a value of 3.84%, EXC is in line with its industry, outperforming 51.35% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for EXC is in line with the industry average of 4.62%.
The 3 year average ROIC (3.67%) for EXC is below the current ROIC(3.84%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.28% | ||
| ROE | 9.14% | ||
| ROIC | 3.84% |
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's Profit Margin of 10.68% is on the low side compared to the rest of the industry. EXC is outperformed by 62.16% of its industry peers.
EXC's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 18.71%, EXC is doing worse than 67.57% of the companies in the same industry.
In the last couple of years the Operating Margin of EXC has grown nicely.
EXC has a Gross Margin (62.29%) which is in line with its industry peers.
EXC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 18.71% | ||
| PM (TTM) | 10.68% | ||
| GM | 62.29% |
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
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 0.74, we must say that EXC is in the distress zone and has some risk of bankruptcy.
EXC's Altman-Z score of 0.74 is in line compared to the rest of the industry. EXC outperforms 45.95% of its industry peers.
EXC has a Debt/Equity ratio of 1.68. This is a high value indicating a heavy dependency on external financing.
EXC has a Debt to Equity ratio of 1.68. This is in the lower half of the industry: EXC underperforms 62.16% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.68 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.74 |
ROIC/WACC0.61
WACC6.3%
2.3 Liquidity
A Current Ratio of 0.87 indicates that EXC may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.87, EXC is in line with its industry, outperforming 43.24% of the companies in the same industry.
EXC has a Quick Ratio of 0.87. 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 has a Quick ratio (0.78) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.87 | ||
| Quick Ratio | 0.78 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 5.04% over the past year.
Measured over the past years, EXC shows a decrease in Earnings Per Share. The EPS has been decreasing by -4.94% on average per year.
Looking at the last year, EXC shows a small growth in Revenue. The Revenue has grown by 5.99% 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)5.04%
EPS 3Y-3.94%
EPS 5Y-4.94%
EPS Q2Q%6.67%
Revenue 1Y (TTM)5.99%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%1.92%
3.2 Future
Based on estimates for the next years, EXC will show a small growth in Earnings Per Share. The EPS will grow by 6.11% on average per year.
EXC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.55% yearly.
EPS Next Y8.81%
EPS Next 2Y6.76%
EPS Next 3Y6.55%
EPS Next 5Y6.11%
Revenue Next Year7.19%
Revenue Next 2Y4.89%
Revenue Next 3Y4.2%
Revenue Next 5Y3.55%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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 17.36, the valuation of EXC can be described as rather expensive.
EXC's Price/Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Earnings ratio of 29.63, EXC is valued a bit cheaper.
With a Price/Forward Earnings ratio of 15.95, EXC is valued correctly.
Based on the Price/Forward Earnings ratio, EXC is valued a bit cheaper than the industry average as 64.86% of the companies are valued more expensively.
EXC's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.68.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.36 | ||
| Fwd PE | 15.95 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EXC is valued a bit cheaper than the industry average as 67.57% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 11.11 |
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.
PEG (NY)1.97
PEG (5Y)N/A
EPS Next 2Y6.76%
EPS Next 3Y6.55%
5. Dividend
5.1 Amount
EXC has a Yearly Dividend Yield of 3.71%. Purely for dividend investing, there may be better candidates out there.
EXC's Dividend Yield is a higher than the industry average which is at 3.53.
Compared to an average S&P500 Dividend Yield of 2.29, EXC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.71% |
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 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
61.95% of the earnings are spent on dividend by EXC. This is not a sustainable payout ratio.
EXC's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP61.95%
EPS Next 2Y6.76%
EPS Next 3Y6.55%
43.39
+0.22 (+0.51%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)
Earnings (Next)
Inst Owners86.8%
Inst Owner Change-1.8%
Ins Owners0.08%
Ins Owner Change5.78%
Market Cap43.60B
Analysts73.04
Price Target44.98 (3.66%)
Short Float %1.92%
Short Ratio2.83
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.71% |
Yearly Dividend1.52
Dividend Growth(5Y)0.95%
DP61.95%
Div Incr Years3
Div Non Decr Years10
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.27%
Min EPS beat(2)5.35%
Max EPS beat(2)7.19%
EPS beat(4)3
Avg EPS beat(4)6.51%
Min EPS beat(4)-3.36%
Max EPS beat(4)16.84%
EPS beat(8)6
Avg EPS beat(8)4.14%
EPS beat(12)7
Avg EPS beat(12)2.52%
EPS beat(16)9
Avg EPS beat(16)-3.37%
Revenue beat(2)2
Avg Revenue beat(2)9.15%
Min Revenue beat(2)4.08%
Max Revenue beat(2)14.22%
Revenue beat(4)4
Avg Revenue beat(4)8.53%
Min Revenue beat(4)4.08%
Max Revenue beat(4)14.22%
Revenue beat(8)8
Avg Revenue beat(8)12.05%
Revenue beat(12)11
Avg Revenue beat(12)10.3%
Revenue beat(16)13
Avg Revenue beat(16)4.24%
PT rev (1m)0.18%
PT rev (3m)1.27%
EPS NQ rev (1m)-1.11%
EPS NQ rev (3m)-0.53%
EPS NY rev (1m)-0.07%
EPS NY rev (3m)-0.13%
Revenue NQ rev (1m)-3%
Revenue NQ rev (3m)0.86%
Revenue NY rev (1m)0.27%
Revenue NY rev (3m)0.34%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.36 | ||
| Fwd PE | 15.95 | ||
| P/S | 1.89 | ||
| P/FCF | N/A | ||
| P/OCF | 7.83 | ||
| P/B | 1.62 | ||
| P/tB | 2.15 | ||
| EV/EBITDA | 11.11 |
EPS(TTM)2.5
EY5.76%
EPS(NY)2.72
Fwd EY6.27%
FCF(TTM)-1.52
FCFYN/A
OCF(TTM)5.54
OCFY12.77%
SpS22.92
BVpS26.79
TBVpS20.19
PEG (NY)1.97
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.28% | ||
| ROE | 9.14% | ||
| ROCE | 4.39% | ||
| ROIC | 3.84% | ||
| ROICexc | 3.86% | ||
| ROICexgc | 4.13% | ||
| OM | 18.71% | ||
| PM (TTM) | 10.68% | ||
| GM | 62.29% | ||
| 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 | 1.68 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 5.72 | ||
| Cap/Depr | 197.36% | ||
| Cap/Sales | 30.82% | ||
| Interest Coverage | 2.33 | ||
| Cash Conversion | 70.45% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.87 | ||
| Quick Ratio | 0.78 | ||
| Altman-Z | 0.74 |
F-Score6
WACC6.3%
ROIC/WACC0.61
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)5.04%
EPS 3Y-3.94%
EPS 5Y-4.94%
EPS Q2Q%6.67%
EPS Next Y8.81%
EPS Next 2Y6.76%
EPS Next 3Y6.55%
EPS Next 5Y6.11%
Revenue 1Y (TTM)5.99%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%1.92%
Revenue Next Year7.19%
Revenue Next 2Y4.89%
Revenue Next 3Y4.2%
Revenue Next 5Y3.55%
EBIT growth 1Y7.32%
EBIT growth 3Y17.1%
EBIT growth 5Y-0.16%
EBIT Next Year99.37%
EBIT Next 3Y32.86%
EBIT Next 5Y19.62%
FCF growth 1Y43.51%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y18.41%
OCF growth 3Y22.74%
OCF growth 5Y-3.51%