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Stock research / United States / EXC · Electric & Other Services Combined · Nasdaq

Exelon Corp. (EXC)

Exelon is a utility services holding company engaged in the energy transmission and distribution businesses through six reportable segments: ComEd, PECO, BGE, Pepco, DPL and ACE. Its consolidated results include seven separate operating subsidiary registrants, those six plus PHI, each of which files its own management discussion inside the same annual report. The utilities deliver electricity, and in some cases natural gas, in Illinois, Pennsylvania, Maryland, the District of Columbia, Delaware and New Jersey.

Exelon Corp.

Exelon is a utility services holding company engaged in the energy transmission and distribution businesses through six reportable segments: ComEd, PECO, BGE, Pepco, DPL and ACE. Its consolidated results include seven separate operating subsidiary registrants, those six plus PHI, each of which files its own management discussion inside the same annual report. The utilities deliver electricity, and in some cases natural gas, in Illinois, Pennsylvania, Maryland, the District of Columbia, Delaware and New Jersey.

The utilities, and how large each one is

PECO, in Pennsylvania, served 1,710,217 electric customers and 556,281 natural gas customers at the end of 2025. Electric retail deliveries were 35,976 GWh during the year, of which 14,078 GWh went to residential customers, 13,683 GWh to large commercial and industrial customers, 7,537 GWh to small commercial and industrial customers and 678 GWh to public authorities and electric railroads. Natural gas deliveries were 91,117 mmcf, split 43,189 mmcf residential, 24,204 mmcf transportation and 23,709 mmcf small commercial and industrial.

BGE, in Maryland, served 1,351,291 electric customers and 705,162 natural gas customers. Pepco served 610,109 electric customers in Maryland, and also operates in the District of Columbia. DPL served 562,661 electric customers across Maryland and Delaware, delivering 7,827 GWh in the year, and also distributes natural gas in Delaware. ACE served 576,595 electric customers in New Jersey. ComEd distributes electricity in Illinois.

Distribution, whoever supplies the power

Delivery volumes cover customers buying electricity directly from the utility and customers buying from a competitive electric generation supplier, because all customers are assessed distribution charges either way. ACE remains the distribution service provider for every customer in its territory and charges a regulated distribution rate; where a customer buys generation from a competitive supplier, ACE acts as the billing agent, and where a customer buys from ACE, it is permitted to recover the electricity and the associated environmental credit procurement costs without mark-up.

At BGE, a monthly rate adjustment provides a fixed distribution amount per customer by customer class, so abnormal weather or usage per customer does not change what it collects, though the number of customers does.

How the rates get set

The utilities file rate cases with their regulatory commissions seeking increases or decreases to their electric transmission and distribution and gas distribution rates, to recover costs and earn a return on their investments. Recent completed cases cover ComEd's electric rates in Illinois, PECO's electric and natural gas rates in Pennsylvania, BGE's electric and natural gas rates in Maryland, Pepco's electric rates in both the District of Columbia and Maryland, DPL's electric rates in Maryland and its electric and natural gas rates in Delaware, and ACE's electric rates in New Jersey. Cases were pending for Pepco in Maryland, filed in October 2025, and for DPL in Delaware, filed in December 2025.

Transmission is set separately, under federal energy regulator formula rates updated annually and effective from 1 June each year, subject to review by interested parties under each utility's tariff protocols. At ComEd the formula varies with underlying costs, the capital investments being recovered, and the highest daily peak load, which is updated each January from the prior calendar year. ComEd's energy efficiency charges run on a performance-based formula rate requiring an annual reconciliation against the costs the Illinois regulator determines were prudently and reasonably incurred in a given year.

Maryland's new law

On 20 May 2025 the Governor of Maryland signed legislation addressing several matters for electric and gas utilities, including affirming that the state regulator may approve multi-year rate plans that demonstrate customer benefits, and prohibiting utilities from filing after 1 January 2025 for the reconciliation of actual costs against the amounts approved within those plans. The filing says reconciliations filed before that date remain lawful and will be resolved in their respective proceedings. Under the same act the regulator implemented a relief programme in June 2025 distributing bill credits to residential customers based on their consumption of electricity supply subject to the renewable energy portfolio standard.

Federal grants terminated and declined

A January 2025 presidential executive order required an immediate pause in disbursing funds appropriated through federal infrastructure and climate legislation pending a federal energy department review. In October 2025 Exelon, ComEd and BGE received termination notices for three awarded grid and storage projects, and in the fourth quarter Exelon, ComEd and BGE declined one previously awarded grant while Exelon and PECO declined another. The filing says there are no material financial statement impacts from the terminations and that the companies will continue to evaluate whether to move forward with the projects.

From Exelon's annual report on Form 10-K for the year ended 31 December 2025. This company's Form 10-K carries no business section that names its service territories, so this description is drawn from the management discussion alone. The filing

Compare with another name What $10,000 in Exelon became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 30 October 2026
Revenue
$7.3 billion
+9.2% on the year · +22.7% on the quarter
Q4 FY2024Q3 FY2026
Net income
$729 million
-16.7% on the year · +84.1% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.70
-18.6% on the year · +79.5% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 12 February 2026
Revenue
$24.3 billion
+5.3% on the year
FY2018FY2025
Net income
$2.8 billion
+12.5% on the year
FY2018FY2025
Diluted EPS
n/a
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsExelon (EXC) reported revenue of $24.3 billion for fiscal 2025, the year ended 31 December 2025, up 5.3% on the year before. Net income was $2.8 billion. Revenue was $23.0 billion in fiscal 2024, $21.7 billion in fiscal 2023, $19.1 billion in fiscal 2022 and $17.9 billion in fiscal 2021. Net income in the same years was $2.5 billion, $2.3 billion, $2.2 billion and $1.7 billion. Over the twelve months to 30 September 2026, Exelon reported revenue of $25.9 billion and net income of $2.6 billion. Revenue grew 7.8% a year, compounded, over the five years to fiscal 2025. Exelon declared $1.66 a share in dividends over the last four quarters and had 1.03 billion shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Exelon was $47.2 billion, 17.7 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE8.8%
ROCE6.2%
Operating margin19.8%
Net margin10.2%
FCF margin-10.0%
Interest covern/a
Debt to equity1.77x
Cash conversion2.52x
Share count, last 12 months2.5%
Sales CAGR, 3 years8.3%
Profit CAGR, 3 years8.5%
EPS, TTMn/a

At the close of 6 November 2026

Price$45.61
Market cap$47.2 billion
Stock P/E17.7x
Price to book1.6x
EV / EBITDA11.0x
Dividend yield3.6%
Market cap / sales1.8x
52-week high$50.29
52-week low$40.20
Price, 1 year-0.2%
Price CAGR, 3 years4.7%
Price CAGR, 5 years3.5%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Exelon Corp.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
EXCgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 * †Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue4,4235,3274,2394,8454,6675,5634,8185,9805,3666,0435,3616,1545,4706,7145,4276,7055,4127,2425,9677,319
Operating income5229006941,0117101,1067041,1231,0901,1149131,1961,0961,5369271,5001,1851,6059791,379
Operating margin12%17%16%21%15%20%15%19%20%18%17%19%20%23%17%22%22%22%16%19%
Pre-tax income2696995117684258034167677167214947576951,0784611,0307221,119495883
Tax rate52%31%9%12%-2%17%18%9%14%9%9%7%7%16%15%15%18%18%20%17%
Net income391597465676432669343700616658448707647908391875594919396729
Net margin9%11%11%14%9%12%7%12%11%11%8%11%12%14%7%13%11%13%7%10%
Diluted EPS$0.40n/an/an/an/a$0.67$0.34$0.70n/a$0.66$0.45$0.70n/a$0.90$0.39$0.86n/a$0.90$0.39$0.70
Operating cash flow-1,1291,7821,4589017294841,2771,5311,4119921,4621,6891,4261,2001,5112,2991,2441,7241,9451,735
Capital expenditure2,0111,9221,5851,6721,9681,8811,8041,8551,8681,7671,6991,6951,9361,9462,0132,1362,4342,3582,2002,241
Free cash flow-3,140-140-127-771-1,239-1,397-527-324-457-775-237-6.0-510-746-502163-1,190-634-255-506
Dividends paid376332331336335358359357359381380381382403405404405430430434
Shares outstanding979m980m980m994m994m994m995m995m999m1,000m1,000m1,005m1,005m1,009m1,010m1,010m1,023m1,023m1,032m1,035m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2008FY2009FY2010FY2011 †FY2012 †FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023 †FY2024FY2025TTM
Revenue18,85917,31818,64419,06323,48924,88827,42929,44731,36033,53135,98516,72516,66317,93819,07821,72723,02824,25825,940
Operating income5,2994,7504,7264,4802,3733,6693,0964,4093,2124,3883,8982,6562,1912,6823,3154,0234,3195,1485,148
Operating margin28.1%27.4%25.3%23.5%10.1%14.7%11.3%15.0%10.2%13.1%10.8%15.9%13.1%15.0%17.4%18.5%18.8%21.2%19.8%
Interest expense6996547927018911,3151,0249921,4951,5241,5291,5911,610n/an/an/an/an/an/a
Pre-tax incomen/a4,4194,2213,9521,7982,7732,4863,3301,9733,7752,2251,6381,0921,6542,4032,7022,6673,2913,219
Income tax1,3171,7121,6581,4576271,0446661,073753-126118153-7.038.0349374207523581
Effective tax raten/a38.7%39.3%36.9%34.9%37.6%26.8%32.2%38.2%-3.3%5.3%9.3%-0.6%2.3%14.5%13.8%7.8%15.9%18.0%
Net income2,7372,7072,5632,4951,1711,7191,6232,2691,1213,7792,0052,9361,9631,7062,1702,3282,4602,7682,638
Net margin14.5%15.6%13.7%13.1%5.0%6.9%5.9%7.7%3.6%11.3%5.6%17.6%11.8%9.5%11.4%10.7%10.7%11.4%10.2%
Diluted EPS$4.13$4.09$3.87$3.75$1.42$2.00$1.88$2.54$1.21$3.97$2.07$3.01$2.01$1.74n/an/an/an/an/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K8-K8-K8-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2015 to FY2025, 8 years left out

FY2015FY2016FY2025Share
of the parts, latest year
Commonwealth Edison Con/a5,2547,26730.0%
Pepco Holdings LLCn/an/a7,13529.4%
PECO Energy Con/an/a4,68419.3%
Potomac Electric Power Companyn/an/a3,45414.2%
Atlantic City Electric Companyn/an/a1,7187.1%
Baltimore Gas and Electric Companyn/a3,233n/an/a
Generation ERCOT857n/an/an/a
Generation Mid Atlantic5,900n/an/an/a
Generation Midwest4,7104,412n/an/a
Generation Natural Gasn/a2,281n/an/a
Generation New England2,212n/an/an/a
Generation Other Regionsn/a907n/an/a
Generation Reportable Segments Total15,76615,270n/an/a
Commonwealth Edison Co FY2016 to FY2025Pepco Holdings LLC FY2025PECO Energy Co FY2025Potomac Electric Power Company FY2025Atlantic City Electric Company FY2025Generation Reportable Segments Total FY2015 to FY2016Generation Midwest FY2015 to FY2016Baltimore Gas and Electric Company FY2016Generation Natural Gas FY2016Generation Other Regions FY2016Generation Mid Atlantic FY2015Generation New England FY2015Generation ERCOT FY2015
29.4FY201531.4FY201624.3FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service FY2018 to FY2025

FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Electricity, US Regulated15,33715,19515,22416,39517,08319,91621,21621,95990.5%
Natural Gas, US Regulated1,4701,4891,4391,5431,9951,8111,8122,2999.5%
Energy Commodities and Service19,168n/an/an/an/an/an/an/an/a
Service, Other30000000n/a
Electricity, US RegulatedNatural Gas, US RegulatedEnergy Commodities and Service FY2018Service, Other FY2018
36.0FY201816.7FY201916.7FY202017.9FY202119.1FY202221.7FY202323.0FY202424.3FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2008FY2009FY2010FY2011 †FY2012 †FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023 †FY2024FY2025TTM
Operating cash flow6,5516,0945,2444,8536,1316,3434,4577,6168,4457,4808,6446,6594,2353,0124,8704,7035,5696,2546,648
Capital expenditure3,1173,2733,3264,0425,7895,3956,0777,6248,5537,5847,5947,2488,0487,9817,1477,4087,0978,5299,233
Free cash flow3,4342,8211,918811342948-1,620-8.0-108-1041,050-589-3,813-4,969-2,277-2,705-1,528-2,275-2,585
Free cash flow margin18.2%16.3%10.3%4.3%1.5%3.8%-5.9%-0.0%-0.3%-0.3%2.9%-3.5%-22.9%-27.7%-11.9%-12.4%-6.6%-9.4%-10.0%
Cash from investing-3,378-3,458-3,894-4,603-4,576-5,394-4,599-7,822-15,450-7,971-7,834-7,260-4,336-3,317-6,990-7,375-7,042-8,525-9,212
Cash from financing-2,213-1,897-1,748-846-1,085-8264114,8301,191767-219-58.01457581,5912,6831,3112,5332,586
Depreciation and amortisation2,3081,8342,0751,3471,8812,1532,3142,4503,9363,8284,3532,7172,8913,0333,3253,5063,5963,6433,836
Share-based compensation67.070.044.067.094.012091.097.011188.075.0n/an/an/an/an/an/an/an/a
Buybacks4360.00.00.00.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Dividends paid1,3351,3851,3891,3931,7161,2491,0651,1051,1661,2361,3321,4081,4921,4971,3341,4331,5241,6171,699
Dividend per share$2.03$2.10$2.10$2.10$2.10$1.46$1.24$1.24$1.26$1.31$1.38$1.45$1.53$1.53$1.35$1.44$1.52$1.60n/a
Diluted shares, weighted662m662m663m665m819m860m864m893m927m949m969m974m977m980m987m997m1,003m1,012m1,037m
Shares outstanding at period end658m660m662m663m855m857m860m920m924m963m968m973m976m979m994m999m1,005m1,023m1,035m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K8-K8-K8-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2008FY2009FY2010FY2011 †FY2012 †FY2013 †FY2014 †FY2015FY2016 †FY2017 †FY2018 †FY2019 †FY2020 †FY2021 †FY2022FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity11,04712,64013,56014,38521,43122,73222,60825,79325,83729,85730,76432,22432,58534,39324,74425,75526,92128,79830,132
Non-controlling interest87.00.03.03.010615.01,3321,3081,7752,2912,3062,3492,2834020.0n/an/an/an/a
Short-term borrowings2111550.01630.0341n/a5331,267n/an/a1,3701,1911,248n/an/an/an/an/a
Debt11,39710,99512,62413,03418,94519,40821,62425,76133,95935,19336,13835,95036,90632,65540,05044,00846,64950,08053,193
Other liabilities25,07525,39026,05327,50738,07237,42840,85241,98952,06649,35950,45853,08456,35264,31530,55532,09334,21437,69238,912
Total liabilities and equity47,81749,18052,24055,09278,55479,92486,41695,384114,904116,700119,666124,977129,317133,01395,349101,856107,784116,570122,237
Owned
Fixed assets25,81327,34129,94132,57045,18647,33052,08757,43971,55574,20276,70780,23360,33264,55869,07673,59378,18284,31888,557
Goodwill2,6252,6252,6252,6252,6252,6252,6722,6726,6776,6776,6776,6776,6306,6306,6306,6306,6306,6306,630
Intangible assetsn/an/a292463444417738755-258-27.0118174-290-207-25.0n/an/an/an/a
Investments6707047177511,1841,187544639629640625464238250232251290312336
Cash and equivalents1,2712,0101,6121,0161,4861,6091,8786,5026358981,3495874326724074453576261,469
Receivables1,9281,5631,9321,6132,7952,9813,4823,1874,1584,4454,6074,5921,9321,8692,2172,3422,7383,2973,162
Other assets15,51014,93715,12116,05424,83423,77525,01524,19031,50829,86529,58332,25060,04359,24116,81218,59519,58721,38722,083
Total assets47,81749,18052,24055,09278,55479,92486,41695,384114,904116,700119,666124,977129,317133,01395,349101,856107,784116,570122,237
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K8-K8-K8-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-1.9%7.8%8.3%6.7%
Profit growth, compounded2.0%7.1%8.5%-6.5%
Return on equity, average8.0%8.3%9.3%9.6%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Exelon's revenue in fiscal 2025?

Exelon (EXC) reported revenue of $24.3 billion for fiscal 2025, the year ended 31 December 2025, up 5.3% on the year before.

How much did Exelon earn in fiscal 2025?

Net income was $2.8 billion for fiscal 2025.

What is Exelon's P/E ratio?

At the close of 6 November 2026, Exelon traded at 17.7 times its earnings over the twelve months to 30 September 2026.

What is Exelon's market cap?

The market cap of Exelon was $47.2 billion at the close of 6 November 2026.

Does Exelon pay a dividend?

Yes. Exelon declared $1.66 a share in dividends over the four quarters to 30 September 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Duke Energy Corp. DUK$99.7 billion18.719.7%28.5%6.8%1.683.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
All 96 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
NextEra Energy Inc. NEE$182.3 billion15.6718.9%30.0%9.6%1.852.8%
Southern Co. SO$107.5 billion21.1311.1%24.7%7.9%1.653.2%
Duke Energy Corp. DUK$99.7 billion18.719.7%28.5%6.8%1.683.3%
Constellation Energy Corp. CEG$88.7 billion24.3410.8%14.7%26.0%0.770.7%
National Grid plc NGG *$86.4 billion19.038.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$80.1 billion25.2319.9%37.5%8.8%2.023.2%
Enterprise Products Partners L.P. EPD$79.8 billion12.26n/a12.7%21.5%n/an/a
American Electric Power Co. Inc. AEP$68.9 billion20.6710.2%23.4%11.1%1.603.0%
Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Dominion Energy, Inc. D$60.4 billion22.799.1%22.5%21.5%1.663.9%
Cheniere Energy, Inc. LNG$56.8 billion19.4046.3%28.1%22.5%3.680.8%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
ONEOK Inc. OKE$53.7 billion13.2317.4%14.2%36.8%1.225.0%
Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
Sempra SRE$51.1 billion16.759.2%n/a-0.9%1.123.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
Vistra Corp. VST$41.9 billion21.0440.5%18.5%3.8%3.570.7%
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
American Water Works Company, Inc. AWK$29.9 billion26.059.5%37.0%5.4%1.372.3%
Atmos Energy Corp. ATO$29.3 billion20.679.2%37.0%6.5%0.682.0%
Venture Global, Inc. VG$28.8 billion9.0838.9%37.6%100.7%4.880.3%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
DTE Energy Co. DTE$28.2 billion20.5810.8%13.1%12.4%2.253.3%
Cheniere Energy Partners, L.P. CQP$27.8 billionn/an/a34.2%13.2%n/an/a
Centerpoint Energy Inc. CNP$27.0 billion23.259.8%24.4%7.8%2.122.3%
PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
Firstenergy Corp. FE$26.9 billion22.339.3%14.9%12.2%2.323.8%
Eversource Energy ES$26.3 billion18.438.7%21.5%4.6%1.764.5%
Edison International EIX$22.8 billion6.3220.3%31.8%2.6%2.335.9%
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
NRG Energy, Inc. NRG$18.6 billion22.9217.5%6.1%12.8%4.822.1%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
Talen Energy Corp. TLN$16.0 billionn/a-16.1%2.0%71.9%6.06n/a
Essential Utilities, Inc. WTRG$13.0 billion22.847.9%72.4%9.2%1.223.2%
Pinnacle West Capital Corp. PNW$12.6 billion19.598.8%20.7%7.5%1.533.5%
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
OGE Energy Corp. OGE$10.5 billion19.0310.6%25.8%2.4%1.123.4%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Entergy Arkansas, LLC EAI$8.7 billion4.1910.3%24.6%n/a1.7513.4%
Idacorp Inc. IDA$8.6 billion22.519.2%23.5%4.5%0.952.4%
UGI Corp. UGI$7.9 billion12.3912.9%16.2%-0.5%1.354.0%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Clearway Energy, Inc. CWEN$7.0 billion44.271.7%13.4%9.9%1.665.4%
National Fuel Gas Co. NFG$7.0 billion10.2117.2%40.3%15.1%0.912.9%
Southwest Gas Holdings, Inc. SWX$6.6 billionn/an/an/an/a0.862.8%
Black Hills Corp. BKH$6.5 billion20.418.0%24.3%2.8%1.133.3%
Txnm Energy Inc. TXNM$6.4 billion28.076.3%24.4%10.0%1.652.9%
Ormat Technologies, Inc. ORA$5.7 billion42.745.1%16.7%28.6%0.600.5%
New Jersey Resources Corp. NJR$5.5 billion15.0113.9%24.8%6.4%1.403.5%
Portland General Electric Co. POR$5.5 billion19.736.3%14.4%1.2%1.164.6%
Spire Inc. SR$5.2 billion9.9015.3%19.7%4.1%2.033.7%
NorthWestern Energy Group, Inc. NWE$5.1 billion31.225.7%18.1%10.1%1.273.2%
One Gas, Inc. OGS$5.1 billion17.258.3%21.1%-1.9%1.003.3%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
MDU Resources Group Inc. MDU$4.0 billion20.026.5%17.1%-0.7%0.873.0%
American States Water Co. AWR$3.6 billion24.6512.6%32.2%11.1%0.792.3%
Chesapeake Utilities Corp. CPK$3.4 billion22.129.0%27.2%13.9%1.042.0%
Avista Corp. AVA$3.4 billion13.498.7%18.9%-1.4%1.194.9%
Otter Tail Corp. OTTR$3.3 billion18.719.2%15.2%0.0%0.652.9%
California Water Service Group CWT$3.2 billion22.797.2%19.4%4.8%0.862.6%
H2O America HTO$3.0 billion24.704.8%20.7%4.2%0.952.8%
MGE Energy Inc. MGEE$3.0 billion18.5510.9%22.5%8.0%0.632.3%
Fervo Energy Co. FRVO$2.7 billionn/an/an/an/a0.08n/a
Northwest Natural Holding Co. NWN$2.2 billion17.138.3%22.9%3.2%1.843.8%
Centuri Holdings, Inc. CTRI$2.1 billion36.326.0%3.1%31.5%0.90n/a
NGL Energy Partners LP NGL$1.9 billionn/an/a1.9%18.0%n/an/a
NextDecade Corp. NEXT$1.6 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.5 billion6.3912.8%10.5%13.6%1.28n/a
New Fortress Energy Inc. NFE$1.3 billionn/an/a-84.3%-36.9%n/an/a
Excelerate Energy, Inc. EE$1.2 billion25.252.1%23.8%16.2%0.460.9%
Middlesex Water Co. MSEX$1.1 billion21.639.5%30.5%8.9%0.802.4%
Unitil Corp. UTL$1.0 billion18.318.6%18.6%21.1%1.543.3%
Xplr Infrastructure, LP XIFR$689 million4.601.4%6.4%-1.1%0.57n/a
York Water Co. YORW$530 million19.678.5%37.9%13.7%0.652.8%
Hallador Energy Co. HNRG$476 million505.00-0.5%3.7%6.5%0.23n/a
Genie Energy Ltd. GNE$462 million16.1810.9%5.2%1.7%0.031.7%
Consolidated Water Co. Ltd. CWCO$436 million27.527.2%12.3%-1.2%0.002.1%
Clean Energy Fuels Corp. CLNE$421 millionn/a-13.6%-4.0%6.3%0.39n/a
Montauk Renewables, Inc. MNTK$388 million54.203.0%0.6%4.3%0.57n/a
Artesian Resources Corp. ARTNA$354 million15.049.2%25.0%5.9%0.723.7%
Cadiz Inc. CDZI$300 millionn/a-789.7%-236.1%-21.3%18.65n/a
Summit Midstream Corp. SMC$288 millionn/a-0.6%14.6%20.9%2.07n/a
Pure Cycle Corp. PCYO$262 million17.859.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$241 million17.2911.4%17.3%13.8%1.213.7%
Global Water Resources, Inc. GWRS$219 million81.112.6%12.6%9.8%1.414.1%
Stabilis Solutions, Inc. SLNG$67 millionn/a-15.0%-19.4%-30.3%0.14n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
15 companies share its SEC industry code (Electric & Other Services Combined); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on EXC

Dividends$1.66 a share over the four quarters to 30 September 2026, a 3.64% yield
Filings21 in twelve months: 13 current reports (8-K), about 7 regulation FD disclosure; 4 results of operations; 3 officer or director change; 2 other events; 2 material agreement
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.5 by open interest at the 6 November 2026 close; the straddle prices a 3.3% move to 20 November 2026
13F holders1,297 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading0 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest32.4 million shares short, 4.41 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202630 October 2026EDGAR
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q30 September 20254 November 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202412 February 2025EDGAR
10-Q30 September 202430 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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