Exelon (EXC) Financials

$44.96 +0.32 (+0.72%)

Closing price 08/22/2025 04:00 PM Eastern

Extended Trading

$44.94 -0.02 (-0.03%)

As of 08/22/2025 07:50 PM Eastern

Annual Income Statements for Exelon

This table shows Exelon's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	6,817	1,697	1,121	3,779	2,005	2,936	1,963	1,706	2,170	2,328	2,460
Consolidated Net Income / (Loss)	5,450	1,669	1,196	3,869	2,079	3,028	1,954	1,829	2,171	2,328	2,460
Net Income / (Loss) Continuing Operations	242	0.00	32,514	3,869	2,079	3,028	1,099	1,616	2,054	2,328	2,460
Total Pre-Tax Income	8,580	3,330	1,973	3,775	2,225	3,985	1,092	1,654	2,403	2,702	2,667
Total Operating Income	7,561	2,748	34,530	4,388	3,891	4,374	2,191	2,682	3,315	4,023	4,319
Total Gross Profit	110,693	2,730	40,090	9,498	19,308	10,326	6,301	7,006	8,032	8,927	9,405
Total Revenue	140,820	11,052	62,684	33,558	35,978	34,438	16,663	17,938	19,078	21,727	23,028
Operating Revenue	140,820	11,052	62,684	33,558	35,978	34,438	16,663	17,938	19,078	21,727	23,028
Total Cost of Revenue	30,127	8,322	22,594	24,060	16,670	24,112	10,362	10,932	11,046	12,800	13,623
Operating Cost of Revenue	30,127	8,322	22,594	24,060	16,670	24,112	10,362	10,932	11,046	12,800	13,623
Total Operating Expenses	85,951	-18	5,560	5,110	15,417	5,952	4,110	4,324	4,717	4,904	5,086
Depreciation Expense	5,590	-	3,936	3,828	4,353	4,252	2,891	3,033	3,325	3,506	3,594
Other Operating Expenses / (Income)	63,000	0.00	1,576	1,518	11,120	1,731	1,232	1,291	1,390	1,408	1,504
Other Special Charges / (Income)	-876	-18	48	-236	-56	-31	-13	0.00	2.00	-10	-12
Total Other Income / (Expense), net	-2,676	-1,079	-1,239	-613	-1,666	-389	-1,099	-1,028	-912	-1,321	-1,652
Interest Expense	2,457	-	1,536	1,560	1,554	1,616	1,307	1,289	1,447	1,729	1,914
Other Income / (Expense), net	-757	-	297	947	-112	1,227	208	261	535	408	262
Income Tax Expense	1,721	-	753	-126	118	774	-7.00	38	349	374	207
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	855	213	117	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	775	-28	75	90	74	92	-9.00	123	1.00	0.00	0.00
Weighted Average Basic Shares Outstanding	860M	890M	924M	947M	967M	973M	976M	979M	986M	996M	1.00B
Weighted Average Diluted Shares Outstanding	864M	893M	927M	949M	969M	974M	977M	980M	987M	997M	1.00B
Weighted Average Basic & Diluted Shares Outstanding	860M	890M	924M	946.50M	966.30M	973M	2.56B	1.29B	1.30B	1.31B	1.31B
Cash Dividends to Common per Share	$1.24	$1.24	$0.00	$1.31	$1.38	$1.45	$1.53	$1.53	$1.35	$1.44	$1.52

This table shows Exelon's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-	669	343	700	616	658	448	707	647	908	391
Consolidated Net Income / (Loss)	-	669	343	700	616	658	448	707	647	-7.00	391
Net Income / (Loss) Continuing Operations	-	669	343	700	616	658	448	707	647	-7.00	391
Total Pre-Tax Income	-	803	416	767	716	721	494	757	695	-7.00	461
Total Operating Income	-	1,106	704	1,123	1,090	1,114	913	1,196	1,096	0.00	927
Total Gross Profit	-	3,472	3,091	3,583	-1,219	2,362	2,160	3,771	-1,368	0.00	2,210
Total Revenue	-	5,563	4,818	5,980	5,366	6,043	5,361	6,154	5,470	0.00	5,427
Operating Revenue	-	5,563	4,818	5,980	5,366	6,043	5,361	6,154	5,470	-	5,427
Total Cost of Revenue	-	2,091	1,727	2,397	6,585	3,681	3,201	2,383	6,838	0.00	3,217
Operating Cost of Revenue	-	2,091	1,727	2,397	6,585	3,681	3,201	2,383	6,838	-	3,217
Total Operating Expenses	-	2,366	2,387	2,460	-2,309	1,248	1,247	2,575	-2,471	0.00	1,283
Depreciation Expense	-	860	866	890	890	879	894	908	913	-	902
Other Operating Expenses / (Income)	-	355	324	383	346	371	360	395	378	-	383
Other Special Charges / (Income)	-	-	-	0.00	-	-2.00	-7.00	-3.00	-	-	-2.00
Total Other Income / (Expense), net	-	-303	-288	-356	-374	-393	-419	-439	-401	-7.00	-466
Interest Expense	-	412	427	437	453	468	483	496	467	7.00	531
Other Income / (Expense), net	-	109	139	81	79	75	64	57	66	-	65
Income Tax Expense	-	134	73	67	100	63	46	50	48	-	70
Basic Earnings per Share	-	$0.67	$0.34	$0.70	$0.62	$0.66	$0.45	$0.70	-	$0.90	$0.39
Weighted Average Basic Shares Outstanding	986M	995M	995M	996M	996M	1B	1.00B	1.00B	1.00B	1.01B	1.01B
Diluted Earnings per Share	-	$0.67	$0.34	$0.70	$0.62	$0.66	$0.45	$0.70	-	$0.90	$0.39
Weighted Average Diluted Shares Outstanding	987M	996M	996M	997M	997M	1.00B	1.00B	1.00B	1.00B	1.01B	1.01B
Weighted Average Basic & Diluted Shares Outstanding	1.30B	1.30B	1.30B	1.30B	1.31B	1.31B	1.31B	1.31B	1.31B	1.32B	1.32B
Cash Dividends to Common per Share	$0.34	$0.36	$0.36	$0.36	$0.36	$0.38	$0.38	$0.38	-	$0.40	$0.40

This table details how cash moves in and out of Exelon's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	616	4,624	-5,798	276	-3,841	-659	44	453	-529	11	-162
Net Cash From Operating Activities	4,457	7,616	8,461	7,480	4,303	6,659	4,235	3,012	4,870	4,703	5,569
Net Cash From Continuing Operating Activities	4,715	7,558	8,461	6,024	4,303	5,433	5,533	3,012	4,870	4,703	5,569
Net Income / (Loss) Continuing Operations	1,820	2,250	1,196	3,869	0.00	3,028	1,954	1,829	2,171	2,328	2,460
Consolidated Net Income / (Loss)	1,820	2,250	1,196	3,869	-	3,028	1,954	1,829	2,171	2,328	2,460
Depreciation Expense	3,868	3,987	5,576	5,427	5,971	5,780	6,527	7,573	3,533	3,506	3,596
Non-Cash Adjustments To Reconcile Net Income	2,312	1,643	2,138	-169	-1,217	1,027	553	-940	833	-4.00	708
Changes in Operating Assets and Liabilities, net	-3,285	-322	-449	-1,647	-451	-3,176	-4,799	-5,450	-1,667	-1,127	-1,195
Net Cash From Investing Activities	-4,599	-7,822	-15,450	-7,971	-7,925	-7,260	-4,336	-3,317	-6,990	-7,375	-7,042
Net Cash From Continuing Investing Activities	-4,612	-7,822	-15,450	-7,971	-7,925	-7,260	-4,336	-3,317	-6,990	-7,375	-7,042
Purchase of Property, Plant & Equipment	-6,077	-7,624	-8,553	-7,584	-7,594	-7,248	-8,048	-7,981	-7,147	-7,408	-7,097
Purchase of Investments	-7,554	-7,147	-9,738	-8,113	-8,997	-10,087	-3,464	-6,673	-516	0.00	0.00
Sale of Property, Plant & Equipment	1,719	147	61	219	-	53	46	877	16	25	38
Sale and/or Maturity of Investments	7,403	6,895	9,496	7,845	8,762	10,051	3,341	6,532	488	0.00	0.00
Other Investing Activities, net	143	-53	207	-43	58	12	3,789	3,928	169	8.00	17
Net Cash From Financing Activities	411	4,830	1,191	767	-219	-58	145	758	1,591	2,683	1,311
Net Cash From Continuing Financing Activities	500	4,830	1,183	767	-219	-58	145	758	1,591	2,683	1,311
Repayment of Debt	-1,601	-2,706	-2,836	-3,784	-1,895	-713	-6,415	-1,801	-2,689	-2,290	-2,215
Payment of Dividends	-1,499	-1,105	-1,174	-1,236	-1,332	-1,408	-1,492	-2,382	-1,334	-1,433	-1,524
Issuance of Debt	3,565	6,709	4,956	4,091	2,903	1,951	8,007	4,861	7,609	6,225	4,859
Issuance of Common Equity	35	1,932	427	1,696	105	112	45	80	599	181	191
Other Financing Activities, net	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	-2,594	0.00	0.00

This table details how cash moves in and out of Exelon's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-183	-7.00	-48	-88	154	207	227	-302	-294	643	-331
Net Cash From Operating Activities	729	484	1,277	1,531	1,411	992	1,462	1,689	1,426	1,200	1,511
Net Cash From Continuing Operating Activities	729	484	1,277	1,531	1,411	992	1,462	1,689	1,426	1,200	1,511
Net Income / (Loss) Continuing Operations	432	669	343	699	617	658	448	707	647	908	392
Consolidated Net Income / (Loss)	432	669	343	699	617	658	448	707	647	908	392
Depreciation Expense	854	860	867	889	890	880	894	909	913	905	901
Non-Cash Adjustments To Reconcile Net Income	112	-25	-99	118	2.00	84	225	-20	419	467	435
Changes in Operating Assets and Liabilities, net	-669	-1,020	166	-175	-98	-630	-105	93	-553	-1,080	-217
Net Cash From Investing Activities	-2,004	-1,871	-1,804	-1,840	-1,860	-1,767	-1,700	-1,647	-1,928	-1,942	-2,020
Net Cash From Continuing Investing Activities	-2,004	-1,871	-1,804	-1,840	-1,860	-1,767	-1,700	-1,647	-1,928	-1,942	-2,020
Purchase of Property, Plant & Equipment	-1,968	-1,881	-1,804	-1,855	-1,868	-1,767	-1,699	-1,695	-1,936	-1,946	-2,013
Sale of Property, Plant & Equipment	-	0.00	-	-	25	2.00	-	-	-	0.00	2.00
Other Investing Activities, net	-36	10	-	15	-17	-2.00	1.00	10	8.00	4.00	-9.00
Net Cash From Financing Activities	1,092	1,380	479	221	603	982	465	-344	208	1,385	178
Net Cash From Continuing Financing Activities	1,092	1,380	479	221	603	982	465	-344	208	1,385	178
Repayment of Debt	759	-2,197	-846	467	286	-1,423	-766	221	-247	-810	-803
Payment of Dividends	-335	-358	-359	-357	-359	-381	-380	-381	-382	-403	-405
Issuance of Debt	658	3,925	1,675	100	525	2,775	1,600	-343	827	2,425	1,375
Issuance of Common Equity	10	10	9.00	11	151	11	11	159	10	173	11

This table presents Exelon's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	71,325	95,384	114,904	116,770	119,634	124,977	129,317	133,013	95,349	101,856	107,784
Total Current Assets	4,853	15,334	12,412	11,896	13,328	12,037	12,562	13,957	7,336	8,087	8,384
Cash & Equivalents	1,878	6,502	635	898	1,349	587	663	672	407	445	357
Restricted Cash	271	205	253	207	247	358	438	321	566	482	541
Accounts Receivable	-	912	5,359	5,577	5,863	6,223	4,700	2,865	3,561	3,361	3,754
Inventories, net	1,603	1,566	1,638	1,651	1,685	1,768	1,722	581	755	801	853
Prepaid Expenses	-	-	-	-	-	-	-	-	-	413	494
Other Current Assets	1,101	2,962	3,277	3,563	3,280	3,149	4,152	1,683	2,047	2,585	2,385
Plant, Property, & Equipment, net	52,170	57,439	71,555	74,202	76,707	80,233	82,584	64,558	69,076	73,593	78,182
Total Noncurrent Assets	14,302	22,405	30,937	30,672	29,599	32,707	34,171	54,498	18,937	20,176	21,218
Long-Term Investments	544	639	629	640	625	464	440	250	232	251	290
Noncurrent Note & Lease Receivables	-	0.00	-	0.00	0.00	0.00	0.00	0.00	2,897	3,232	4,026
Goodwill	2,672	2,672	6,677	6,677	6,677	6,677	6,677	6,630	6,630	6,630	6,630
Employee Benefit Assets	-	-	-	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00
Other Noncurrent Operating Assets	11,086	19,094	23,631	23,355	22,297	25,566	27,054	9,109	9,178	10,063	10,272
Total Liabilities & Shareholders' Equity	0.00	95,384	114,904	116,770	119,634	124,977	129,317	133,013	95,349	101,856	107,784
Total Liabilities	22,855	68,062	87,292	84,583	86,587	90,404	94,449	98,218	70,605	76,101	80,863
Total Current Liabilities	2,764	9,118	13,457	10,798	11,404	14,185	12,771	16,111	10,611	9,901	9,611
Short-Term Debt	2,262	2,033	3,697	3,017	2,063	6,080	3,850	3,401	4,388	3,926	3,312
Accounts Payable	192	3,193	3,441	3,889	3,805	3,565	3,567	2,384	3,387	2,851	2,999
Accrued Expenses	-	2,376	3,460	1,837	2,112	1,981	2,078	1,137	1,226	1,375	1,468
Customer Deposits	-	0.00	-	0.00	0.00	0.00	-	-	-	411	446
Other Current Liabilities	310	1,516	2,700	2,055	2,647	2,559	2,901	1,249	1,610	1,338	1,386
Total Noncurrent Liabilities	20,091	58,854	73,835	73,785	75,183	76,219	81,678	82,107	59,994	66,200	71,252
Long-Term Debt	-	23,645	31,575	32,176	34,075	31,329	35,093	30,749	35,662	40,082	43,337
Asset Retirement Reserve & Litigation Obligation	5,571	13,807	14,336	21,041	20,409	22,031	22,993	9,899	9,381	9,843	10,499
Noncurrent Deferred & Payable Income Tax Liabilities	12,778	13,776	18,138	11,235	11,321	12,351	13,035	10,611	11,250	11,956	12,793
Noncurrent Employee Benefit Liabilities	1,742	5,003	6,096	5,829	5,916	6,323	6,514	2,862	1,616	2,098	2,217
Other Noncurrent Operating Liabilities	-	1,982	3,049	3,504	3,462	4,185	4,043	2,310	2,085	2,221	2,406
Total Equity & Noncontrolling Interests	25,485	27,294	27,612	32,187	33,047	34,573	34,868	34,795	24,744	25,755	26,921
Total Preferred & Common Equity	25,292	25,793	25,837	29,896	30,741	32,224	32,585	34,393	24,744	25,755	26,921
Total Common Equity	25,292	25,793	25,837	29,896	30,741	32,224	32,585	34,393	24,744	0.00	26,921
Common Stock	16,709	18,676	18,794	18,964	19,116	19,274	19,373	20,324	20,908	21,114	21,338
Retained Earnings	10,910	12,068	12,030	14,081	14,743	16,267	16,735	16,942	4,597	5,490	6,426
Treasury Stock	-2,327	-2,327	-2,327	-123	-123	-123	-123	-123	-123	-123	-123
Accumulated Other Comprehensive Income / (Loss)	-	-2,624	-2,660	-3,026	-2,995	-3,194	-3,400	-2,750	-638	-726	-720
Other Equity Adjustments	-	-	-	0.00	0.00	0.00	0.00	-	-	-	0.00

This table presents Exelon's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	95,349	96,925	98,080	99,259	101,856	103,211	105,113	106,070	107,784	109,484	111,147
Total Current Assets	7,336	7,777	7,542	7,519	8,087	8,212	8,557	8,023	8,384	8,799	8,676
Cash & Equivalents	407	522	399	300	445	720	934	616	357	1,004	724
Restricted Cash	566	381	435	435	482	489	530	552	541	578	478
Accounts Receivable	3,561	3,359	3,125	3,314	3,361	3,585	3,709	3,660	3,754	4,016	4,113
Inventories, net	755	652	710	762	801	788	824	855	853	833	868
Prepaid Expenses	-	-	-	-	413	-	-	-	494	240	349
Other Current Assets	2,047	2,863	2,968	2,708	2,585	2,630	2,560	2,340	2,385	2,128	2,144
Plant, Property, & Equipment, net	69,076	70,117	71,300	72,458	73,593	74,604	75,646	76,661	78,182	79,177	80,609
Total Noncurrent Assets	18,937	19,031	19,238	19,282	20,176	20,395	20,910	21,386	21,218	21,508	21,862
Long-Term Investments	232	234	238	246	251	263	270	279	290	289	297
Noncurrent Note & Lease Receivables	2,897	3,069	3,120	2,923	3,232	3,382	3,840	4,322	4,026	4,110	4,411
Goodwill	6,630	6,630	6,630	6,630	6,630	6,630	6,630	6,630	6,630	6,630	6,630
Employee Benefit Assets	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Noncurrent Operating Assets	9,178	9,098	9,250	9,483	10,063	10,120	10,170	10,155	10,272	10,479	10,524
Total Liabilities & Shareholders' Equity	95,349	96,925	98,080	99,259	101,856	103,211	105,113	106,070	107,784	109,484	111,147
Total Liabilities	70,605	71,859	73,001	73,789	76,101	77,150	78,961	79,448	80,863	81,877	83,527
Total Current Liabilities	10,611	8,092	7,936	8,800	9,901	7,975	8,275	7,384	9,611	8,103	9,156
Short-Term Debt	4,388	2,662	2,741	3,374	3,926	2,709	2,762	1,985	3,312	2,538	2,927
Accounts Payable	3,387	2,767	0.00	2,689	2,851	2,819	2,815	2,653	2,999	2,698	3,048
Accrued Expenses	1,226	1,183	1,220	1,315	1,375	1,076	1,241	1,284	1,468	1,186	1,318
Customer Deposits	-	0.00	-	-	411	419	425	432	446	465	486
Other Current Liabilities	1,610	1,480	1,464	1,422	1,338	952	1,032	1,030	1,386	1,216	1,377
Total Noncurrent Liabilities	59,994	63,767	65,454	64,989	66,200	69,175	70,686	72,064	71,252	73,774	74,371
Long-Term Debt	35,662	38,732	40,271	39,821	40,082	42,661	43,429	44,091	43,337	45,732	45,917
Asset Retirement Reserve & Litigation Obligation	9,381	9,577	9,679	9,505	9,843	9,976	10,470	10,852	10,499	10,594	10,952
Noncurrent Deferred & Payable Income Tax Liabilities	11,250	11,483	11,547	11,792	11,956	12,199	12,358	12,551	12,793	13,081	13,221
Noncurrent Employee Benefit Liabilities	1,616	1,607	1,571	1,600	2,098	2,092	2,086	2,081	2,217	1,955	1,964
Other Noncurrent Operating Liabilities	2,085	2,368	2,386	2,271	2,221	2,247	2,343	2,489	2,406	2,412	2,317
Total Equity & Noncontrolling Interests	24,744	25,066	25,079	25,470	25,755	26,061	26,152	26,622	26,921	27,607	27,620
Total Preferred & Common Equity	24,744	25,066	25,079	25,470	25,755	26,061	26,152	26,622	26,921	27,607	27,620
Total Common Equity	24,744	25,066	25,079	25,470	0.00	26,061	26,152	26,622	0.00	27,607	27,620
Common Stock	20,908	20,921	20,941	20,956	21,114	21,129	21,152	21,320	21,338	21,517	21,544
Retained Earnings	4,597	4,907	4,891	5,233	5,490	5,767	5,835	6,161	6,426	6,931	6,917
Treasury Stock	-123	-123	-123	-123	-123	-123	-123	-123	-123	-123	-123
Accumulated Other Comprehensive Income / (Loss)	-638	-639	-630	-596	-726	-712	-712	-736	-720	-718	-718
Other Equity Adjustments	-	-	-	0.00	-	0.00	0.00	0.00	-	0.00	0.00

This table displays calculated financial ratios and metrics derived from Exelon's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	465.81%	-92.15%	467.17%	-46.46%	7.21%	-4.28%	-51.61%	7.65%	6.36%	13.89%	5.99%
EBITDA Growth	35.66%	-36.89%	499.90%	-73.36%	-9.40%	16.73%	-21.57%	17.81%	-29.79%	7.50%	3.02%
EBIT Growth	66.44%	-59.61%	1,167.36%	-84.68%	-29.17%	48.21%	-57.17%	22.68%	30.82%	15.09%	3.39%
NOPAT Growth	164.22%	-54.54%	676.98%	-78.76%	-18.74%	-4.35%	-37.44%	18.84%	8.13%	22.33%	14.93%
Net Income Growth	215.21%	-69.38%	-28.34%	223.50%	-46.27%	45.65%	-35.47%	-6.40%	18.70%	7.23%	5.67%
EPS Growth	0.00%	35.11%	-52.36%	228.93%	-47.99%	45.65%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-29.73%	70.88%	11.10%	-11.59%	-42.47%	54.75%	-36.40%	-28.88%	61.69%	-3.43%	18.41%
Free Cash Flow Firm Growth	77.36%	213.74%	-72.08%	-51.00%	132.79%	-108.52%	615.73%	1,672.01%	-129.90%	73.54%	112.21%
Invested Capital Growth	36.70%	-10.51%	44.60%	5.58%	1.83%	5.59%	1.58%	-23.31%	15.67%	7.86%	5.54%
Revenue Q/Q Growth	200.86%	-91.18%	87.60%	-16.78%	1.20%	-1.33%	-49.91%	24.49%	0.00%	0.00%	0.45%
EBITDA Q/Q Growth	50.27%	-54.74%	43.58%	-37.84%	-10.73%	8.58%	3.98%	107.79%	82.39%	128.73%	0.20%
EBIT Q/Q Growth	105.50%	-74.88%	50.94%	-54.58%	-24.16%	21.00%	-43.66%	116.40%	0.00%	0.00%	-0.15%
NOPAT Q/Q Growth	82.55%	-64.12%	32.19%	-46.09%	-27.26%	2.13%	-29.52%	213.88%	0.00%	0.00%	2.22%
Net Income Q/Q Growth	-86.11%	105.32%	79.58%	78.21%	-46.92%	30.46%	-16.03%	-2.51%	0.00%	0.00%	1.28%
EPS Q/Q Growth	0.00%	0.00%	0.00%	80.09%	-46.79%	30.46%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-36.05%	49.04%	-9.07%	10.47%	-49.27%	5,992.92%	-0.45%	-64.66%	61.69%	16.96%	0.27%
Free Cash Flow Firm Q/Q Growth	78.86%	-83.43%	105.51%	-82.05%	-4.76%	-125.52%	-12.54%	-74.47%	91.14%	75.52%	-43.47%
Invested Capital Q/Q Growth	5.84%	617.49%	0.83%	2.36%	0.38%	1.98%	0.85%	1,544.02%	3.51%	1.33%	1.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	78.61%	24.70%	63.96%	28.30%	53.67%	29.98%	37.81%	39.06%	42.10%	41.09%	40.84%
EBITDA Margin	7.58%	60.94%	64.46%	32.07%	27.10%	33.05%	53.57%	58.62%	38.70%	36.53%	35.51%
Operating Margin	5.37%	24.86%	55.09%	13.08%	10.81%	12.70%	13.15%	14.95%	17.38%	18.52%	18.76%
EBIT Margin	4.83%	24.86%	55.56%	15.90%	10.50%	16.26%	14.40%	16.41%	20.18%	20.39%	19.89%
Profit (Net Income) Margin	3.87%	15.10%	1.91%	11.53%	5.78%	8.79%	11.73%	10.20%	11.38%	10.71%	10.68%
Tax Burden Percent	63.52%	50.12%	60.62%	102.49%	93.44%	75.98%	178.94%	110.58%	90.35%	86.16%	92.24%
Interest Burden Percent	126.10%	121.18%	5.67%	70.76%	58.88%	71.15%	45.52%	56.20%	62.42%	60.98%	58.22%
Effective Tax Rate	20.06%	0.00%	38.17%	-3.34%	5.30%	19.42%	-0.64%	2.30%	14.52%	13.84%	7.76%
Return on Invested Capital (ROIC)	14.53%	6.04%	40.61%	7.10%	5.56%	5.13%	3.10%	4.14%	4.78%	5.24%	5.65%
ROIC Less NNEP Spread (ROIC-NNEP)	11.11%	0.40%	-39.61%	5.14%	0.79%	3.71%	2.41%	1.36%	2.53%	2.46%	2.20%
Return on Net Nonoperating Assets (RNNOA)	7.98%	0.29%	-36.25%	5.84%	0.81%	3.83%	2.53%	1.11%	2.51%	3.98%	3.69%
Return on Equity (ROE)	22.51%	6.32%	4.36%	12.94%	6.37%	8.96%	5.63%	5.25%	7.29%	9.22%	9.34%
Cash Return on Invested Capital (CROIC)	-16.48%	17.13%	4.14%	1.67%	3.75%	-0.31%	1.53%	30.53%	-9.75%	-2.31%	0.27%
Operating Return on Assets (OROA)	9.33%	3.30%	33.12%	4.61%	3.20%	4.58%	1.89%	2.24%	3.37%	4.49%	4.37%
Return on Assets (ROA)	7.47%	2.00%	1.14%	3.34%	1.76%	2.48%	1.54%	1.39%	1.90%	2.36%	2.35%
Return on Common Equity (ROCE)	22.32%	6.12%	4.10%	12.06%	5.92%	8.34%	5.25%	5.05%	7.24%	4.52%	0.00%
Return on Equity Simple (ROE_SIMPLE)	21.55%	6.47%	4.63%	12.94%	6.76%	9.40%	6.00%	5.32%	8.77%	9.04%	9.14%
Net Operating Profit after Tax (NOPAT)	6,044	2,748	21,352	4,534	3,685	3,524	2,205	2,620	2,834	3,466	3,984
NOPAT Margin	4.29%	24.86%	34.06%	13.51%	10.24%	10.23%	13.23%	14.61%	14.85%	15.95%	17.30%
Net Nonoperating Expense Percent (NNEP)	3.42%	5.64%	80.22%	1.96%	4.78%	1.42%	0.69%	2.78%	2.25%	2.79%	3.45%
Return On Investment Capital (ROIC_SIMPLE)	21.78%	-	-	-	-	-	-	-	4.37%	4.97%	5.42%
Cost of Revenue to Revenue	21.39%	75.30%	36.04%	71.70%	46.33%	70.02%	62.19%	60.94%	57.90%	58.91%	59.16%
SG&A Expenses to Revenue	12.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	61.04%	-0.16%	8.87%	15.23%	42.85%	17.28%	24.67%	24.11%	24.72%	22.57%	22.09%
Earnings before Interest and Taxes (EBIT)	6,804	2,748	34,827	5,335	3,779	5,601	2,399	2,943	3,850	4,431	4,581
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	10,672	6,735	40,403	10,762	9,750	11,381	8,926	10,516	7,383	7,937	8,177
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.83	0.96	1.29	1.32	1.53	1.53	1.46	1.96	2.10	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.93	1.08	1.74	1.70	1.95	1.93	1.83	2.42	2.87	0.00	0.00
Price to Revenue (P/Rev)	0.15	2.25	0.53	1.18	1.31	1.43	2.85	3.75	2.73	2.06	2.14
Price to Earnings (P/E)	3.08	14.66	29.75	10.47	23.45	16.77	24.17	39.44	23.99	19.27	20.06
Dividend Yield	6.83%	6.07%	4.66%	4.20%	3.74%	3.77%	4.13%	2.92%	3.37%	4.18%	4.04%
Earnings Yield	32.44%	6.82%	3.36%	9.55%	4.26%	5.96%	4.14%	2.54%	4.17%	5.19%	4.99%
Enterprise Value to Invested Capital (EV/IC)	0.43	1.04	1.11	1.15	1.25	1.24	1.22	1.83	1.43	1.28	1.31
Enterprise Value to Revenue (EV/Rev)	0.15	4.05	1.10	2.24	2.31	2.54	5.23	5.61	4.77	4.04	4.12
Enterprise Value to EBITDA (EV/EBITDA)	1.95	6.64	1.70	7.00	8.54	7.70	9.76	9.57	12.31	11.05	11.59
Enterprise Value to EBIT (EV/EBIT)	3.05	16.27	1.98	14.11	22.03	15.64	36.32	34.18	23.61	19.79	20.69
Enterprise Value to NOPAT (EV/NOPAT)	3.44	16.27	3.23	16.60	22.59	24.85	39.52	38.39	32.08	25.30	23.80
Enterprise Value to Operating Cash Flow (EV/OCF)	4.66	5.87	8.14	10.07	19.35	13.15	20.58	33.40	18.67	18.64	17.02
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	5.74	31.65	70.60	33.53	0.00	79.87	5.20	0.00	0.00	507.56
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.94	1.28	1.09	1.09	1.08	1.12	0.98	1.62	1.71	1.73
Long-Term Debt to Equity	0.00	0.87	1.14	1.00	1.03	0.91	1.01	0.88	1.44	1.56	1.61
Financial Leverage	0.72	0.72	0.92	1.14	1.03	1.03	1.05	0.82	0.99	1.62	1.68
Leverage Ratio	3.01	3.16	3.83	3.87	3.62	3.62	3.66	3.77	3.84	3.91	3.98
Compound Leverage Factor	3.80	3.83	0.22	2.74	2.13	2.57	1.67	2.12	2.39	2.38	2.32
Debt to Total Capital	8.15%	48.47%	56.09%	52.23%	52.23%	51.97%	52.76%	49.53%	61.81%	63.08%	63.41%
Short-Term Debt to Total Capital	8.15%	3.84%	5.88%	4.48%	2.98%	8.45%	5.22%	4.93%	6.77%	5.63%	4.50%
Long-Term Debt to Total Capital	0.00%	44.64%	50.21%	47.75%	49.25%	43.52%	47.54%	44.60%	55.04%	57.45%	58.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.70%	2.83%	2.82%	3.40%	3.33%	3.26%	3.09%	0.58%	0.00%	0.00%	0.00%
Common Equity to Total Capital	91.15%	48.69%	41.09%	44.37%	44.43%	44.77%	44.15%	49.88%	38.19%	0.00%	0.00%
Debt to EBITDA	0.21	3.81	0.87	3.27	3.71	3.29	4.36	3.25	5.42	5.54	5.70
Net Debt to EBITDA	-0.04	2.72	0.84	3.11	3.48	3.16	4.19	3.13	5.26	5.40	5.56
Long-Term Debt to EBITDA	0.00	3.51	0.78	2.99	3.49	2.75	3.93	2.92	4.83	5.05	5.30
Debt to NOPAT	0.37	9.34	1.65	7.76	9.81	10.61	17.66	13.03	14.13	12.70	11.71
Net Debt to NOPAT	-0.07	6.67	1.58	7.38	9.21	10.21	16.96	12.56	13.71	12.36	11.41
Long-Term Debt to NOPAT	0.00	8.60	1.48	7.10	9.25	8.89	15.91	11.73	12.59	11.56	10.88
Altman Z-Score	3.09	0.69	1.91	0.90	0.92	0.91	0.67	0.78	0.80	0.76	0.79
Noncontrolling Interest Sharing Ratio	0.83%	3.21%	5.97%	6.80%	7.05%	6.88%	6.67%	3.85%	0.68%	51.00%	100.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.76	1.68	0.92	1.10	1.17	0.85	0.98	0.87	0.69	0.82	0.87
Quick Ratio	0.68	0.81	0.45	0.60	0.63	0.48	0.41	0.22	0.37	0.38	0.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-6,854	7,795	2,177	1,066	2,483	-212	1,091	19,333	-5,781	-1,530	187
Operating Cash Flow to CapEx	102.27%	101.86%	99.64%	101.56%	56.66%	92.55%	52.92%	42.40%	68.29%	63.70%	78.89%
Free Cash Flow to Firm to Interest Expense	-2.79	0.00	1.42	0.68	1.60	-0.13	0.83	15.00	-4.00	-0.88	0.10
Operating Cash Flow to Interest Expense	1.81	0.00	5.51	4.79	2.77	4.12	3.24	2.34	3.37	2.72	2.91
Operating Cash Flow Less CapEx to Interest Expense	0.04	0.00	-0.02	0.07	-2.12	-0.33	-2.88	-3.17	-1.56	-1.55	-0.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.93	0.13	0.60	0.29	0.30	0.28	0.13	0.14	0.17	0.22	0.22
Accounts Receivable Turnover	0.00	0.00	19.99	6.14	6.29	5.70	3.05	4.74	5.94	6.28	6.47
Inventory Turnover	22.25	5.25	14.10	14.63	9.99	13.97	5.94	9.49	16.54	16.45	16.47
Fixed Asset Turnover	2.83	0.20	0.97	0.46	0.48	0.44	0.20	0.24	0.29	0.30	0.30
Accounts Payable Turnover	22.52	4.92	6.81	6.56	4.33	6.54	2.91	3.67	3.83	4.10	4.66
Days Sales Outstanding (DSO)	0.00	0.00	18.26	59.47	58.03	64.05	119.63	76.97	61.47	58.14	56.39
Days Inventory Outstanding (DIO)	16.40	69.50	25.88	24.95	36.52	26.14	61.47	38.45	22.07	22.19	22.16
Days Payable Outstanding (DPO)	16.21	74.23	53.59	55.60	84.23	55.78	125.61	99.35	95.35	88.94	78.37
Cash Conversion Cycle (CCC)	0.19	-4.74	-9.45	28.82	10.32	34.40	55.49	16.07	-11.80	-8.61	0.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	48,039	42,992	62,167	65,635	66,837	70,573	71,687	54,974	63,589	68,585	72,382
Invested Capital Turnover	3.39	0.24	1.19	0.53	0.54	0.50	0.23	0.28	0.32	0.33	0.33
Increase / (Decrease) in Invested Capital	12,898	-5,047	19,175	3,468	1,202	3,736	1,114	-16,713	8,615	4,996	3,797
Enterprise Value (EV)	20,779	44,709	68,879	75,289	83,250	87,581	87,140	100,590	90,910	87,684	94,803
Market Capitalization	21,017	24,876	33,349	39,550	47,027	49,232	47,455	67,281	52,065	44,854	49,342
Book Value per Share	$21.86	$21.19	$21.02	$23.60	$24.15	$25.21	$25.42	$26.78	$19.04	$0.00	$0.00
Tangible Book Value per Share	$19.55	$19.00	$15.59	$18.33	$18.90	$19.99	$20.22	$21.62	$13.94	($5.09)	($5.06)
Total Capital	27,747	52,972	62,884	67,380	69,185	71,982	73,811	68,945	64,794	69,763	73,570
Total Debt	2,262	25,678	35,272	35,193	36,138	37,409	38,943	34,150	40,050	44,008	46,649
Total Long-Term Debt	0.00	23,645	31,575	32,176	34,075	31,329	35,093	30,749	35,662	40,082	43,337
Net Debt	-431	18,332	33,755	33,448	33,917	36,000	37,402	32,907	38,845	42,830	45,461
Capital Expenditures (CapEx)	4,358	7,477	8,492	7,365	7,594	7,195	8,002	7,104	7,131	7,383	7,059
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,202	1,542	1,764	3,010	2,391	2,987	2,540	254	140	1,185	1,187
Debt-free Net Working Capital (DFNWC)	4,351	8,249	2,652	4,115	3,987	3,932	3,641	1,247	1,113	2,112	2,085
Net Working Capital (NWC)	2,089	6,216	-1,045	1,098	1,924	-2,148	-209	-2,154	-3,275	-1,814	-1,227
Net Nonoperating Expense (NNE)	594	1,079	20,156	665	1,606	496	251	791	663	1,138	1,524
Net Nonoperating Obligations (NNO)	22,554	15,698	34,555	33,448	33,790	36,000	36,819	20,179	38,845	42,830	45,461
Total Depreciation and Amortization (D&A)	3,868	3,987	5,576	5,427	5,971	5,780	6,527	7,573	3,533	3,506	3,596
Debt-free, Cash-free Net Working Capital to Revenue	1.56%	13.95%	2.81%	8.97%	6.65%	8.67%	15.24%	1.42%	0.73%	5.45%	5.15%
Debt-free Net Working Capital to Revenue	3.09%	74.64%	4.23%	12.26%	11.08%	11.42%	21.85%	6.95%	5.83%	9.72%	9.05%
Net Working Capital to Revenue	1.48%	56.24%	-1.67%	3.27%	5.35%	-6.24%	-1.25%	-12.01%	-17.17%	-8.35%	-5.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$2.83	$1.48	$2.15	$1.43	$1.74	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	860M	1.25B	1.30B	1.33B	1.36B	1.37B	1.37B	979M	986M	996M	1.00B
Adjusted Diluted Earnings per Share	$1.88	$0.00	$0.87	$2.83	$1.47	$2.14	$1.43	$1.74	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	864M	1.25B	1.30B	1.33B	1.36B	1.37B	1.37B	980M	987M	997M	1.00B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.16B	1.25B	2.09B	2.14B	1.79B	0.00	3.60B	1.29B	1.30B	1.31B	1.31B
Normalized Net Operating Profit after Tax (NOPAT)	5,344	1,911	21,381	2,906	3,632	3,499	1,525	2,620	2,835	3,458	3,973
Normalized NOPAT Margin	3.80%	17.29%	34.11%	8.66%	10.09%	10.16%	9.15%	14.61%	14.86%	15.91%	17.25%
Pre Tax Income Margin	6.09%	30.13%	3.15%	11.25%	6.18%	11.57%	6.55%	9.22%	12.60%	12.44%	11.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.77	0.00	22.67	3.42	2.43	3.47	1.84	2.28	2.66	2.56	2.39
NOPAT to Interest Expense	2.46	0.00	13.90	2.91	2.37	2.18	1.69	2.03	1.96	2.00	2.08
EBIT Less CapEx to Interest Expense	1.00	0.00	17.15	-1.30	-2.46	-0.99	-4.29	-3.23	-2.27	-1.71	-1.29
NOPAT Less CapEx to Interest Expense	0.69	0.00	8.37	-1.81	-2.52	-2.27	-4.44	-3.48	-2.97	-2.27	-1.61
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.50%	66.21%	98.16%	31.95%	64.07%	46.50%	76.36%	130.24%	61.45%	61.56%	61.95%
Augmented Payout Ratio	27.50%	66.21%	98.16%	31.95%	64.07%	46.50%	76.36%	130.24%	61.45%	61.56%	61.95%

This table displays calculated financial ratios and metrics derived from Exelon's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	23.43%	0.00%	8.63%	11.27%	2.91%	1.94%	0.00%	1.23%
EBITDA Growth	-65.07%	0.00%	0.00%	6.89%	141.10%	-0.29%	9.42%	3.30%	0.78%	2.84%	1.18%
EBIT Growth	-100.00%	0.00%	0.00%	6.27%	0.00%	-2.14%	15.90%	4.07%	-0.60%	0.00%	1.54%
NOPAT Growth	-100.00%	0.00%	0.00%	15.17%	0.00%	10.33%	42.64%	8.99%	8.80%	0.00%	-5.04%
Net Income Growth	0.00%	0.00%	2,958.33%	3.55%	0.00%	-1.64%	30.61%	1.00%	5.03%	-16.67%	-12.72%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-1.49%	32.35%	0.00%	0.00%	36.36%	-13.33%
Operating Cash Flow Growth	164.57%	0.00%	0.00%	-59.03%	93.55%	104.96%	14.49%	10.32%	1.06%	20.97%	3.35%
Free Cash Flow Firm Growth	-146.59%	0.00%	-194.33%	91.88%	52.89%	0.00%	99.08%	53.10%	31.58%	94.22%	-464.82%
Invested Capital Growth	15.67%	0.00%	0.00%	10.17%	7.86%	0.00%	2.11%	5.27%	5.54%	5.78%	6.17%
Revenue Q/Q Growth	0.00%	0.00%	-13.39%	24.12%	-10.27%	12.62%	-11.29%	14.79%	-11.11%	-100.00%	-19.17%
EBITDA Q/Q Growth	-56.38%	142.97%	-17.59%	22.40%	-1.62%	0.49%	-9.57%	15.55%	-4.02%	-56.39%	-24.07%
EBIT Q/Q Growth	-100.00%	0.00%	-30.62%	42.82%	-2.91%	1.71%	-17.83%	28.25%	-7.26%	-100.00%	-37.53%
NOPAT Q/Q Growth	-100.00%	0.00%	-37.00%	76.57%	-8.50%	8.41%	-18.56%	34.91%	-8.66%	-100.00%	-39.23%
Net Income Q/Q Growth	0.00%	0.00%	-48.73%	104.08%	-12.00%	6.82%	-31.91%	57.81%	-8.49%	-101.08%	-56.94%
EPS Q/Q Growth	0.00%	0.00%	-49.25%	105.88%	-11.43%	6.45%	-31.82%	55.56%	0.00%	0.00%	-56.67%
Operating Cash Flow Q/Q Growth	-80.49%	-33.61%	163.84%	19.89%	-7.84%	-29.70%	47.38%	15.53%	-15.57%	-15.85%	25.92%
Free Cash Flow Firm Q/Q Growth	86.61%	100.00%	0.00%	92.38%	22.32%	-1,598.83%	99.08%	-287.65%	-13.33%	-45.75%	-29.66%
Invested Capital Q/Q Growth	3.51%	-100.00%	0.00%	-2.12%	1.33%	2.00%	0.93%	0.91%	1.59%	2.24%	1.30%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	0.00%	62.41%	64.16%	59.92%	-22.72%	60.12%	62.84%	61.28%	-25.01%	0.00%	40.72%
EBITDA Margin	0.00%	37.30%	35.49%	35.00%	38.37%	34.24%	34.90%	35.13%	37.93%	0.00%	34.88%
Operating Margin	0.00%	19.88%	14.61%	18.78%	20.31%	18.43%	17.03%	19.43%	20.04%	0.00%	17.08%
EBIT Margin	0.00%	21.84%	17.50%	20.13%	21.79%	19.68%	18.22%	20.36%	21.24%	0.00%	18.28%
Profit (Net Income) Margin	0.00%	12.03%	7.12%	11.71%	11.48%	10.89%	8.36%	11.49%	11.83%	0.00%	7.20%
Tax Burden Percent	0.00%	83.31%	82.45%	91.26%	86.03%	91.26%	90.69%	93.40%	93.09%	100.00%	84.82%
Interest Burden Percent	0.00%	66.09%	49.35%	63.70%	61.25%	60.64%	50.56%	60.42%	59.81%	0.00%	46.47%
Effective Tax Rate	0.00%	16.69%	17.55%	8.74%	13.97%	8.74%	9.31%	6.61%	6.91%	0.00%	15.18%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	5.75%	10.68%	5.03%	5.99%	6.09%	0.00%	4.73%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	4.96%	9.05%	4.17%	5.05%	5.25%	0.00%	3.87%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	8.02%	15.24%	7.21%	8.41%	8.80%	0.00%	6.61%
Return on Equity (ROE)	0.00%	0.00%	0.00%	0.00%	13.76%	25.92%	12.23%	14.40%	14.89%	0.00%	11.34%
Cash Return on Invested Capital (CROIC)	-9.75%	0.00%	-200.00%	-9.68%	-2.31%	-189.81%	3.36%	0.48%	0.27%	0.38%	-0.19%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	0.00%	4.80%	8.47%	4.08%	4.55%	4.67%	0.00%	4.02%
Return on Assets (ROA)	0.00%	0.00%	0.00%	0.00%	2.53%	4.69%	1.87%	2.57%	2.60%	0.00%	1.58%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	0.00%	6.74%	25.92%	12.23%	14.40%	0.00%	0.00%	11.34%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	8.89%	9.26%	9.12%	0.00%	8.91%	0.00%
Net Operating Profit after Tax (NOPAT)	0.00	921	580	1,025	938	1,017	828	1,117	1,020	0.00	786
NOPAT Margin	0.00%	16.56%	12.05%	17.14%	17.48%	16.82%	15.44%	18.15%	18.65%	0.00%	14.49%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	1.08%	0.82%	0.79%	1.63%	0.86%	0.94%	0.85%	0.02%	0.86%
Return On Investment Capital (ROIC_SIMPLE)	0.00%	-	-	-	1.34%	-	-	-	1.39%	0.00%	1.03%
Cost of Revenue to Revenue	0.00%	37.59%	35.84%	40.08%	122.72%	39.88%	37.16%	38.72%	125.01%	0.00%	59.28%
SG&A Expenses to Revenue	0.00%	20.69%	24.84%	19.85%	0.00%	21.03%	22.55%	20.72%	0.00%	0.00%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.00%	42.53%	49.54%	41.14%	-43.03%	41.68%	45.94%	41.84%	-45.17%	0.00%	23.64%
Earnings before Interest and Taxes (EBIT)	0.00	1,215	843	1,204	1,169	1,189	977	1,253	1,162	0.00	992
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	854	2,075	1,710	2,093	2,059	2,069	1,871	2,162	2,075	905	1,893
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.10	0.00	2.01	1.85	0.00	1.84	1.71	1.99	0.00	2.19	2.07
Price to Tangible Book Value (P/TBV)	2.87	0.00	2.73	2.51	0.00	2.47	2.29	2.65	0.00	2.88	2.72
Price to Revenue (P/Rev)	2.73	0.00	0.00	0.00	2.06	2.16	1.97	2.31	2.14	2.62	2.40
Price to Earnings (P/E)	23.99	0.00	0.00	0.00	19.27	20.68	18.47	21.81	20.06	22.30	21.53
Dividend Yield	3.37%	3.47%	3.60%	3.90%	4.18%	3.97%	4.32%	3.70%	4.04%	3.34%	3.59%
Earnings Yield	4.17%	0.00%	0.00%	0.00%	5.19%	4.84%	5.41%	4.58%	4.99%	4.49%	4.64%
Enterprise Value to Invested Capital (EV/IC)	1.43	0.00	1.34	1.32	1.28	1.31	1.26	1.37	1.31	1.44	1.39
Enterprise Value to Revenue (EV/Rev)	4.77	0.00	0.00	0.00	4.04	4.13	3.92	4.26	4.12	4.64	4.40
Enterprise Value to EBITDA (EV/EBITDA)	12.31	0.00	0.00	25.78	11.05	11.58	11.02	11.96	11.59	13.45	12.12
Enterprise Value to EBIT (EV/EBIT)	23.61	0.00	0.00	0.00	19.79	20.84	19.65	21.27	20.69	24.73	20.91
Enterprise Value to NOPAT (EV/NOPAT)	32.08	0.00	0.00	0.00	25.30	25.76	23.44	25.04	23.80	24.73	24.77
Enterprise Value to Operating Cash Flow (EV/OCF)	18.67	0.00	14.83	22.25	18.64	17.62	16.53	17.57	17.02	18.49	17.93
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	38.02	295.41	507.56	392.73	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.62	0.00	1.72	1.70	1.71	1.74	1.77	1.73	1.73	1.75	1.77
Long-Term Debt to Equity	1.44	0.00	1.61	1.56	1.56	1.64	1.66	1.66	1.61	1.66	1.66
Financial Leverage	0.99	0.00	1.76	1.58	1.62	1.68	1.73	1.67	1.68	1.68	1.71
Leverage Ratio	3.84	0.00	3.91	3.85	3.91	3.96	3.97	3.94	3.98	3.96	4.02
Compound Leverage Factor	0.00	0.00	1.93	2.45	2.39	2.40	2.01	2.38	2.38	0.00	1.87
Debt to Total Capital	61.81%	0.00%	63.17%	62.91%	63.08%	63.52%	63.85%	63.38%	63.41%	63.62%	63.88%
Short-Term Debt to Total Capital	6.77%	0.00%	4.03%	4.91%	5.63%	3.79%	3.82%	2.73%	4.50%	3.34%	3.83%
Long-Term Debt to Total Capital	55.04%	0.00%	59.14%	57.99%	57.45%	59.72%	60.03%	60.65%	58.91%	60.27%	60.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	38.19%	0.00%	36.83%	37.09%	0.00%	36.48%	36.15%	36.62%	0.00%	36.38%	36.12%
Debt to EBITDA	5.42	0.00	0.00	12.45	5.54	5.72	5.71	5.65	5.70	6.08	5.66
Net Debt to EBITDA	5.26	0.00	0.00	12.17	5.40	5.54	5.49	5.47	5.56	5.84	5.49
Long-Term Debt to EBITDA	4.83	0.00	0.00	11.48	5.05	5.38	5.37	5.40	5.30	5.76	5.32
Debt to NOPAT	14.13	0.00	0.00	0.00	12.70	12.73	12.14	11.82	11.71	11.18	11.58
Net Debt to NOPAT	13.71	0.00	0.00	0.00	12.36	12.31	11.68	11.45	11.41	10.74	11.23
Long-Term Debt to NOPAT	12.59	0.00	0.00	0.00	11.56	11.97	11.41	11.31	10.88	10.59	10.89
Altman Z-Score	0.67	0.00	0.51	0.48	0.66	0.71	0.67	0.74	0.69	0.75	0.74
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	51.00%	0.00%	0.00%	0.00%	100.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.69	0.00	0.95	0.85	0.82	1.03	1.03	1.09	0.87	1.09	0.95
Quick Ratio	0.37	0.00	0.43	0.41	0.38	0.54	0.56	0.58	0.43	0.62	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-8,615	0.00	-68,569	-5,224	-4,058	-68,942	-632	-2,450	-2,777	-4,047	-3,570
Operating Cash Flow to CapEx	37.04%	25.73%	70.79%	82.53%	76.56%	56.20%	86.05%	99.65%	73.66%	61.67%	75.14%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-160.58	-11.95	-8.96	-147.31	-1.31	-4.94	-5.95	-578.14	-6.72
Operating Cash Flow to Interest Expense	0.00	1.17	2.99	3.50	3.11	2.12	3.03	3.41	3.05	171.43	2.85
Operating Cash Flow Less CapEx to Interest Expense	0.00	-3.39	-1.23	-0.74	-0.95	-1.65	-0.49	-0.01	-1.09	-106.57	-0.94
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.17	0.00	0.00	0.00	0.22	0.43	0.22	0.22	0.22	0.22	0.22
Accounts Receivable Turnover	5.94	0.00	0.00	0.00	6.28	0.00	6.66	6.57	6.47	6.06	6.08
Inventory Turnover	16.54	0.00	0.00	0.00	16.45	0.00	17.45	16.54	16.47	16.81	16.34
Fixed Asset Turnover	0.29	0.00	0.00	0.00	0.30	0.00	0.31	0.31	0.30	0.30	0.30
Accounts Payable Turnover	3.83	0.00	0.00	0.00	4.10	0.00	0.00	5.01	4.66	4.94	4.72
Days Sales Outstanding (DSO)	61.47	0.00	0.00	0.00	58.14	0.00	54.82	55.52	56.39	60.24	60.07
Days Inventory Outstanding (DIO)	22.07	0.00	0.00	0.00	22.19	0.00	20.92	22.07	22.16	21.72	22.33
Days Payable Outstanding (DPO)	95.35	0.00	0.00	0.00	88.94	0.00	0.00	72.92	78.37	73.91	77.38
Cash Conversion Cycle (CCC)	-11.80	0.00	0.00	0.00	-8.61	0.00	75.74	4.67	0.18	8.05	5.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	63,589	0.00	69,149	67,684	68,585	69,959	70,609	71,251	72,382	74,006	74,965
Invested Capital Turnover	0.32	0.00	0.00	0.00	0.33	0.63	0.33	0.33	0.33	0.32	0.33
Increase / (Decrease) in Invested Capital	8,615	0.00	69,149	6,249	4,996	69,959	1,460	3,567	3,797	4,047	4,356
Enterprise Value (EV)	90,910	51,417	92,373	89,454	87,684	91,819	89,202	97,609	94,803	106,822	104,468
Market Capitalization	52,065	51,417	50,433	47,240	44,854	47,921	44,745	52,980	49,342	60,423	57,123
Book Value per Share	$19.04	$0.00	$25.21	$19.57	$0.00	$26.06	$20.02	$20.38	$0.00	$21.05	$20.99
Tangible Book Value per Share	$13.94	$0.00	$18.54	$14.48	($5.09)	$19.43	$14.95	$15.30	($5.06)	$16.00	$15.95
Total Capital	64,794	0.00	68,091	68,665	69,763	71,431	72,343	72,698	73,570	75,877	76,464
Total Debt	40,050	0.00	43,012	43,195	44,008	45,370	46,191	46,076	46,649	48,270	48,844
Total Long-Term Debt	35,662	0.00	40,271	39,821	40,082	42,661	43,429	44,091	43,337	45,732	45,917
Net Debt	38,845	0.00	41,940	42,214	42,830	43,898	44,457	44,629	45,461	46,399	47,345
Capital Expenditures (CapEx)	1,968	1,881	1,804	1,855	1,843	1,765	1,699	1,695	1,936	1,946	2,011
Debt-free, Cash-free Net Working Capital (DFCFNWC)	140	0.00	1,513	1,358	1,185	1,737	1,580	1,456	1,187	1,652	1,245
Debt-free Net Working Capital (DFNWC)	1,113	0.00	2,347	2,093	2,112	2,946	3,044	2,624	2,085	3,234	2,447
Net Working Capital (NWC)	-3,275	0.00	-394	-1,281	-1,814	237	282	639	-1,227	696	-480
Net Nonoperating Expense (NNE)	0.00	252	237	325	322	359	380	410	373	7.00	395
Net Nonoperating Obligations (NNO)	38,845	0.00	44,070	42,214	42,830	43,898	44,457	44,629	45,461	46,399	47,345
Total Depreciation and Amortization (D&A)	854	860	867	889	890	880	894	909	913	905	901
Debt-free, Cash-free Net Working Capital to Revenue	0.73%	0.00%	0.00%	0.00%	5.45%	7.82%	6.95%	6.35%	5.15%	7.17%	5.24%
Debt-free Net Working Capital to Revenue	5.83%	0.00%	0.00%	0.00%	9.72%	13.27%	13.38%	11.45%	9.05%	14.04%	10.30%
Net Working Capital to Revenue	-17.17%	0.00%	0.00%	0.00%	-8.35%	1.07%	1.24%	2.79%	-5.33%	3.02%	-2.02%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.62	$0.66	$0.45	$0.70	$0.00	$0.90	$0.39
Adjusted Weighted Average Basic Shares Outstanding	986M	995M	995M	996M	996M	1B	1.00B	1.00B	1.00B	1.01B	1.01B
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.62	$0.66	$0.45	$0.70	$0.00	$0.90	$0.39
Adjusted Weighted Average Diluted Shares Outstanding	987M	996M	996M	997M	997M	1.00B	1.00B	1.00B	1.00B	1.01B	1.01B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.62	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.30B	1.30B	1.30B	1.30B	1.31B	1.31B	1.31B	1.31B	1.31B	1.32B	1.32B
Normalized Net Operating Profit after Tax (NOPAT)	0.00	921	580	1,025	938	1,015	828	1,114	1,020	0.00	785
Normalized NOPAT Margin	0.00%	16.56%	12.05%	17.14%	17.48%	16.79%	15.44%	18.11%	18.65%	0.00%	14.46%
Pre Tax Income Margin	0.00%	14.43%	8.63%	12.83%	13.34%	11.93%	9.21%	12.30%	12.71%	0.00%	8.49%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	2.95	1.97	2.76	2.58	2.54	2.02	2.53	2.49	0.00	1.87
NOPAT to Interest Expense	0.00	2.24	1.36	2.35	2.07	2.17	1.71	2.25	2.18	0.00	1.48
EBIT Less CapEx to Interest Expense	0.00	-1.62	-2.25	-1.49	-1.49	-1.23	-1.49	-0.89	-1.66	-278.00	-1.92
NOPAT Less CapEx to Interest Expense	0.00	-2.33	-2.87	-1.90	-2.00	-1.60	-1.80	-1.17	-1.96	-278.00	-2.31
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	61.45%	0.00%	0.00%	0.00%	61.56%	62.84%	60.98%	61.80%	61.95%	62.87%	59.22%
Augmented Payout Ratio	61.45%	0.00%	0.00%	0.00%	61.56%	62.84%	60.98%	61.80%	61.95%	62.87%	59.22%

Key Financial Trends

Exelon Corp (NASDAQ: EXC) financial data over the last four years reflects several key trends in operating performance, cash flow generation, and balance sheet strength. Below is a summary of the most important aspects for retail investors to consider.

Consistent Operating Revenue Growth: Operating revenues increased from $4.8 billion in Q2 2023 to $5.4 billion in Q2 2025, reflecting steady demand and potentially improved pricing or volume.
Strong Net Income Performance: The company reported net income attributable to common shareholders rising from $343 million in Q2 2023 to $391 million in Q2 2025, with quarterly fluctuations but overall positive trend.
Robust Operating Cash Flow: Net cash from continuing operating activities rose from approximately $1.27 billion in Q2 2024 to $1.51 billion in Q2 2025, indicating strong cash generation to fund operations and investments.
Substantial Asset Base Growth: Total assets increased from around $98 billion in Q2 2023 to $111 billion in Q2 2025, driven by growth in plant, property & equipment (from $71.3 billion to $80.6 billion), suggesting capital investments in the business.
Controlled Dividend Payout: Cash dividends per share increased modestly over time (e.g., $0.34 in Q4 2022 to $0.40 in Q2 2025), consistent with sustainable shareholder returns.
Capital Expenditures Keep Pace With Growth: Significant investments in property, plant, and equipment (around $1.9 - $2.0 billion quarterly) indicate continued focus on growth and maintenance capital but require monitoring for impact on free cash flow.
Debt Activity Is Active: The company shows continual issuance and repayment of debt, with net financing cash flows positive in some quarters (Q1 2025 +$1.39 billion; Q2 2025 +$178 million), reflecting active capital structure management.
Stable Share Count: Weighted average shares outstanding have remained stable around 1 billion basic shares, indicating limited dilution over the period.
High Operating Costs Pressure Margins: Operating cost of revenue sometimes exceeds revenue (e.g., Q4 2024 operating cost $6.8 billion vs revenue $5.4 billion), resulting in negative gross profit for that quarter; cost management remains a concern.
Elevated Debt Levels: Total liabilities increased from $73 billion in Q2 2023 to $83.5 billion in Q2 2025, with long-term debt increasing to $45.9 billion. The growing leverage could pose risks if not matched by earnings growth.

Overall, Exelon demonstrates solid revenue growth, improving net income, and strong operating cash flow, supported by ongoing capital investments. However, investors should watch costs closely, as negative operating margins appeared during some periods, and the company’s sizeable debt burden requires careful monitoring.

08/23/25 08:21 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Exelon's Financials

When does Exelon's fiscal year end?

According to the most recent income statement we have on file, Exelon's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Exelon's net income changed over the last 10 years?

Exelon's net income appears to be on a downward trend, with a most recent value of $2.46 billion in 2024, falling from $5.45 billion in 2014. The previous period was $2.33 billion in 2023. See Exelon's forecast for analyst expectations on what’s next for the company.

What is Exelon's operating income?

Exelon's total operating income in 2024 was $4.32 billion, based on the following breakdown:

Total Gross Profit: $9.41 billion
Total Operating Expenses: $5.09 billion

How has Exelon's revenue changed over the last 10 years?

Over the last 10 years, Exelon's total revenue changed from $140.82 billion in 2014 to $23.03 billion in 2024, a change of -83.6%.

How much debt does Exelon have?

Exelon's total liabilities were at $80.86 billion at the end of 2024, a 6.3% increase from 2023, and a 253.8% increase since 2014.

How much cash does Exelon have?

In the past 10 years, Exelon's cash and equivalents has ranged from $357 million in 2024 to $6.50 billion in 2015, and is currently $357 million as of their latest financial filing in 2024.

How has Exelon's book value per share changed over the last 10 years?

Over the last 10 years, Exelon's book value per share changed from 21.86 in 2014 to 0.00 in 2024, a change of -100.0%.

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This page (NASDAQ:EXC) was last updated on 8/23/2025 by MarketBeat.com Staff

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Exelon (EXC) Financials

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Exelon (EXC) Financials

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