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 46 industry peers in the Electric Utilities industry. EXC has a medium profitability rating, but doesn't score so well on its financial health evaluation. EXC does not seem to be growing, but still is valued expensively.
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.
Each year in the past 5 years EXC had a positive operating cash flow.
1.2 Ratios
EXC has a Return On Assets of 2.28%. This is comparable to the rest of the industry: EXC outperforms 43.48% of its industry peers.
EXC has a better Return On Equity (9.14%) than 60.87% of its industry peers.
EXC has a Return On Invested Capital (3.84%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for EXC is in line with the industry average of 4.92%.
The last Return On Invested Capital (3.84%) for EXC is above the 3 year average (3.67%), which is a sign of increasing profitability.
| 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 has a Profit Margin of 10.68%. This is comparable to the rest of the industry: EXC outperforms 47.83% of its industry peers.
In the last couple of years the Profit Margin of EXC has grown nicely.
EXC has a Operating Margin (18.71%) which is comparable to the rest of the industry.
EXC's Operating Margin has improved in the last couple of years.
EXC has a Gross Margin (62.29%) which is comparable to the rest of the 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 | 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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so EXC is destroying value.
EXC has more shares outstanding than it did 1 year ago.
EXC has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, EXC has about the same debt to assets ratio.
2.2 Solvency
EXC has an Altman-Z score of 0.77. This is a bad value and indicates that EXC is not financially healthy and even has some risk of bankruptcy.
EXC has a Altman-Z score (0.77) which is in line with its industry peers.
A Debt/Equity ratio of 1.68 is on the high side and indicates that EXC has dependencies on debt financing.
EXC's Debt to Equity ratio of 1.68 is in line compared to the rest of the industry. EXC outperforms 50.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.68 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.77 |
ROIC/WACC0.6
WACC6.38%
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 the better half of the industry, outperforming 69.57% of the companies in the same industry.
A Quick Ratio of 0.78 indicates that EXC may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.78, EXC is in the better half of the industry, outperforming 69.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.87 | ||
| Quick Ratio | 0.78 |
3. Growth
3.1 Past
EXC shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 5.04%.
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 5.99%.
EXC shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -7.73% yearly.
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 6.22% on average per year.
EXC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.18% yearly.
EPS Next Y8.22%
EPS Next 2Y6.44%
EPS Next 3Y6.52%
EPS Next 5Y6.22%
Revenue Next Year8.59%
Revenue Next 2Y5.75%
Revenue Next 3Y4.66%
Revenue Next 5Y4.18%
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
A Price/Earnings ratio of 18.90 indicates a rather expensive valuation of EXC.
Based on the Price/Earnings ratio, EXC is valued a bit cheaper than the industry average as 60.87% of the companies are valued more expensively.
EXC is valuated rather cheaply when we compare the Price/Earnings ratio to 28.29, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 17.47, the valuation of EXC can be described as rather expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EXC indicates a somewhat cheap valuation: EXC is cheaper than 65.22% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.08. EXC is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.9 | ||
| Fwd PE | 17.47 |
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 | 11.66 |
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.
EXC has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.3
PEG (5Y)N/A
EPS Next 2Y6.44%
EPS Next 3Y6.52%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.55%, EXC has a reasonable but not impressive dividend return.
EXC's Dividend Yield is comparable with the industry average which is at 3.57.
EXC's Dividend Yield is a higher than the S&P500 average which is at 2.57.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.55% |
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 61.95% of its income as dividend. 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 2Y6.44%
EPS Next 3Y6.52%
47.26
+0.75 (+1.61%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryElectric Utilities
Earnings (Last)
Earnings (Next)
Inst Owners85.83%
Inst Owner Change0.01%
Ins Owners0.08%
Ins Owner Change6.39%
Market Cap47.71B
Analysts73.04
Price Target46.01 (-2.64%)
Short Float %2.01%
Short Ratio2.72
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.55% |
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)0.8%
PT rev (3m)4.55%
EPS NQ rev (1m)0.04%
EPS NQ rev (3m)2.78%
EPS NY rev (1m)-0.55%
EPS NY rev (3m)1.87%
Revenue NQ rev (1m)-0.25%
Revenue NQ rev (3m)-0.38%
Revenue NY rev (1m)0.55%
Revenue NY rev (3m)5.31%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.9 | ||
| Fwd PE | 17.47 | ||
| P/S | 2.07 | ||
| P/FCF | N/A | ||
| P/OCF | 8.57 | ||
| P/B | 1.77 | ||
| P/tB | 2.35 | ||
| EV/EBITDA | 11.66 |
EPS(TTM)2.5
EY5.29%
EPS(NY)2.71
Fwd EY5.72%
FCF(TTM)-1.51
FCFYN/A
OCF(TTM)5.52
OCFY11.67%
SpS22.81
BVpS26.67
TBVpS20.1
PEG (NY)2.3
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 | 0.77 |
F-Score6
WACC6.38%
ROIC/WACC0.6
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 Y8.22%
EPS Next 2Y6.44%
EPS Next 3Y6.52%
EPS Next 5Y6.22%
Revenue 1Y (TTM)5.99%
Revenue growth 3Y8.68%
Revenue growth 5Y-7.73%
Sales Q2Q%1.92%
Revenue Next Year8.59%
Revenue Next 2Y5.75%
Revenue Next 3Y4.66%
Revenue Next 5Y4.18%
EBIT growth 1Y7.32%
EBIT growth 3Y17.1%
EBIT growth 5Y-0.16%
EBIT Next Year100.47%
EBIT Next 3Y32.29%
EBIT Next 5Y21.51%
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%