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
EXC had positive earnings in the past year.
In the past year EXC had a positive cash flow from operations.
EXC had positive earnings in each of the past 5 years.
Each year in the past 5 years EXC had a positive operating cash flow.
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.
EXC has a Return On Equity (9.82%) which is in line with its industry peers.
The Return On Invested Capital of EXC (4.12%) is comparable to the rest of the industry.
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
EXC has a worse Profit Margin (11.43%) than 61.70% 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 19.97%, EXC is in line with its industry, outperforming 46.81% of the companies in the same industry.
EXC's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 62.89%, EXC perfoms like the industry average, outperforming 57.45% of the companies in the same industry.
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so EXC is destroying value.
The number of shares outstanding for EXC has been increased compared to 1 year ago.
The number of shares outstanding for EXC has been increased compared to 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 0.77, we must say that EXC is in the distress zone and has some risk of bankruptcy.
EXC has a Altman-Z score of 0.77. This is comparable to the rest of the industry: EXC outperforms 46.81% of its industry peers.
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 | 0.77 |
ROIC/WACC0.48
WACC8.63%
2.3 Liquidity
EXC has a Current Ratio of 1.09. This is a normal value and indicates that EXC is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of EXC (1.09) is better than 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.
The Quick ratio of EXC (0.98) is better than 63.83% of its industry peers.
| 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.
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 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
Based on estimates for the next years, EXC will show a small growth in Earnings Per Share. The EPS will grow by 6.74% on average per year.
EXC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.88% yearly.
EPS Next Y8.83%
EPS Next 2Y6.71%
EPS Next 3Y6.54%
EPS Next 5Y6.74%
Revenue Next Year10.21%
Revenue Next 2Y6.42%
Revenue Next 3Y5.2%
Revenue Next 5Y4.88%
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
EXC is valuated correctly with a Price/Earnings ratio of 15.85.
Compared to the rest of the industry, the Price/Earnings ratio of EXC is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 27.15. EXC is valued slightly cheaper when compared to this.
EXC is valuated correctly with a Price/Forward Earnings ratio of 15.25.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EXC is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 21.60. EXC is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.85 | ||
| Fwd PE | 15.25 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as EXC.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 10.71 |
4.3 Compensation for Growth
EXC's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.8
PEG (5Y)N/A
EPS Next 2Y6.71%
EPS Next 3Y6.54%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.76%, EXC has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.67, EXC pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.42, EXC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.76% |
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
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 3Y6.54%
43.42
+0.51 (+1.19%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)
Earnings (Next)
Inst Owners87.63%
Inst Owner Change0.93%
Ins Owners0.09%
Ins Owner Change5.36%
Market Cap43.83B
Analysts72.17
Price Target48.57 (11.86%)
Short Float %1.99%
Short Ratio2.43
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.76% |
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)-0.73%
PT rev (3m)6.24%
EPS NQ rev (1m)-1.17%
EPS NQ rev (3m)-15.53%
EPS NY rev (1m)0.14%
EPS NY rev (3m)0.56%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)12.83%
Revenue NY rev (1m)0.52%
Revenue NY rev (3m)2.05%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.85 | ||
| Fwd PE | 15.25 | ||
| P/S | 1.85 | ||
| P/FCF | N/A | ||
| P/OCF | 7.59 | ||
| P/B | 1.59 | ||
| P/tB | 2.09 | ||
| EV/EBITDA | 10.71 |
EPS(TTM)2.74
EY6.31%
EPS(NY)2.85
Fwd EY6.56%
FCF(TTM)-1.48
FCFYN/A
OCF(TTM)5.72
OCFY13.18%
SpS23.48
BVpS27.35
TBVpS20.78
PEG (NY)1.8
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 | 0.77 |
F-Score7
WACC8.63%
ROIC/WACC0.48
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 Y8.83%
EPS Next 2Y6.71%
EPS Next 3Y6.54%
EPS Next 5Y6.74%
Revenue 1Y (TTM)6.72%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%11.1%
Revenue Next Year10.21%
Revenue Next 2Y6.42%
Revenue Next 3Y5.2%
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%