Intrinsic value of Exelon - EXC

Previous Close

$37.97

  Intrinsic Value

$40.47

stock screener

  Rating & Target

hold

+7%

Previous close

$37.97

 
Intrinsic value

$40.47

 
Up/down potential

+7%

 
Rating

hold

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of EXC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  6.50
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  31,360
  31,987
  32,723
  33,564
  34,508
  35,554
  36,702
  37,952
  39,305
  40,763
  42,327
  44,001
  45,787
  47,688
  49,709
  51,853
  54,125
  56,531
  59,074
  61,762
  64,600
  67,594
  70,752
  74,081
  77,588
  81,281
  85,170
  89,264
  93,571
  98,103
  102,870
Variable operating expenses, $m
 
  27,176
  27,785
  28,482
  29,265
  30,132
  31,083
  32,119
  33,240
  34,448
  35,745
  36,464
  37,944
  39,519
  41,194
  42,971
  44,854
  46,847
  48,955
  51,183
  53,534
  56,016
  58,633
  61,391
  64,298
  67,359
  70,582
  73,974
  77,543
  81,299
  85,249
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  28,248
  27,176
  27,785
  28,482
  29,265
  30,132
  31,083
  32,119
  33,240
  34,448
  35,745
  36,464
  37,944
  39,519
  41,194
  42,971
  44,854
  46,847
  48,955
  51,183
  53,534
  56,016
  58,633
  61,391
  64,298
  67,359
  70,582
  73,974
  77,543
  81,299
  85,249
Operating income, $m
  3,112
  4,811
  4,937
  5,082
  5,243
  5,422
  5,619
  5,833
  6,065
  6,315
  6,583
  7,537
  7,843
  8,169
  8,515
  8,882
  9,271
  9,683
  10,119
  10,579
  11,065
  11,578
  12,119
  12,689
  13,290
  13,923
  14,589
  15,290
  16,028
  16,804
  17,621
EBITDA, $m
  6,641
  6,554
  6,705
  6,877
  7,070
  7,285
  7,520
  7,776
  8,053
  8,352
  8,672
  9,015
  9,381
  9,771
  10,185
  10,624
  11,090
  11,583
  12,104
  12,655
  13,236
  13,849
  14,497
  15,178
  15,897
  16,654
  17,451
  18,289
  19,172
  20,100
  21,077
Interest expense (income), $m
  1,340
  1,463
  1,543
  1,631
  1,732
  1,845
  1,970
  2,107
  2,257
  2,419
  2,593
  2,780
  2,981
  3,194
  3,422
  3,664
  3,920
  4,192
  4,480
  4,785
  5,106
  5,446
  5,804
  6,182
  6,581
  7,001
  7,443
  7,908
  8,398
  8,914
  9,456
Earnings before tax, $m
  1,989
  3,348
  3,395
  3,451
  3,512
  3,578
  3,649
  3,726
  3,808
  3,896
  3,989
  4,757
  4,862
  4,974
  5,093
  5,218
  5,351
  5,491
  5,639
  5,795
  5,959
  6,132
  6,315
  6,507
  6,709
  6,922
  7,146
  7,382
  7,630
  7,891
  8,165
Tax expense, $m
  761
  904
  917
  932
  948
  966
  985
  1,006
  1,028
  1,052
  1,077
  1,284
  1,313
  1,343
  1,375
  1,409
  1,445
  1,483
  1,522
  1,565
  1,609
  1,656
  1,705
  1,757
  1,812
  1,869
  1,930
  1,993
  2,060
  2,130
  2,204
Net income, $m
  1,134
  2,444
  2,478
  2,519
  2,564
  2,612
  2,664
  2,720
  2,780
  2,844
  2,912
  3,472
  3,549
  3,631
  3,718
  3,809
  3,906
  4,008
  4,116
  4,230
  4,350
  4,477
  4,610
  4,750
  4,898
  5,053
  5,217
  5,389
  5,570
  5,760
  5,960

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,885
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  114,904
  115,477
  118,133
  121,169
  124,578
  128,355
  132,499
  137,011
  141,896
  147,158
  152,805
  158,847
  165,294
  172,158
  179,454
  187,195
  195,398
  204,082
  213,265
  222,968
  233,213
  244,023
  255,423
  267,439
  280,100
  293,435
  307,475
  322,252
  337,803
  354,163
  371,370
Adjusted assets (=assets-cash), $m
  113,019
  115,477
  118,133
  121,169
  124,578
  128,355
  132,499
  137,011
  141,896
  147,158
  152,805
  158,847
  165,294
  172,158
  179,454
  187,195
  195,398
  204,082
  213,265
  222,968
  233,213
  244,023
  255,423
  267,439
  280,100
  293,435
  307,475
  322,252
  337,803
  354,163
  371,370
Revenue / Adjusted assets
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
  0.277
Average production assets, $m
  5,260
  5,374
  5,497
  5,639
  5,797
  5,973
  6,166
  6,376
  6,603
  6,848
  7,111
  7,392
  7,692
  8,012
  8,351
  8,711
  9,093
  9,497
  9,924
  10,376
  10,853
  11,356
  11,886
  12,446
  13,035
  13,655
  14,309
  14,996
  15,720
  16,481
  17,282
Working capital, $m
  -1,045
  768
  785
  806
  828
  853
  881
  911
  943
  978
  1,016
  1,056
  1,099
  1,145
  1,193
  1,244
  1,299
  1,357
  1,418
  1,482
  1,550
  1,622
  1,698
  1,778
  1,862
  1,951
  2,044
  2,142
  2,246
  2,354
  2,469
Total debt, $m
  35,913
  35,879
  37,927
  40,267
  42,895
  45,807
  49,002
  52,481
  56,248
  60,305
  64,659
  69,317
  74,288
  79,580
  85,205
  91,173
  97,498
  104,193
  111,273
  118,754
  126,653
  134,987
  143,777
  153,042
  162,803
  173,084
  183,909
  195,303
  207,292
  219,905
  233,173
Total liabilities, $m
  89,067
  89,033
  91,081
  93,421
  96,049
  98,961
  102,156
  105,635
  109,402
  113,459
  117,813
  122,471
  127,442
  132,734
  138,359
  144,327
  150,652
  157,347
  164,427
  171,908
  179,807
  188,141
  196,931
  206,196
  215,957
  226,238
  237,063
  248,457
  260,446
  273,059
  286,327
Total equity, $m
  25,837
  26,444
  27,053
  27,748
  28,528
  29,393
  30,342
  31,376
  32,494
  33,699
  34,992
  36,376
  37,852
  39,424
  41,095
  42,868
  44,746
  46,735
  48,838
  51,060
  53,406
  55,881
  58,492
  61,244
  64,143
  67,197
  70,412
  73,796
  77,357
  81,103
  85,044
Total liabilities and equity, $m
  114,904
  115,477
  118,134
  121,169
  124,577
  128,354
  132,498
  137,011
  141,896
  147,158
  152,805
  158,847
  165,294
  172,158
  179,454
  187,195
  195,398
  204,082
  213,265
  222,968
  233,213
  244,022
  255,423
  267,440
  280,100
  293,435
  307,475
  322,253
  337,803
  354,162
  371,371
Debt-to-equity ratio
  1.390
  1.360
  1.400
  1.450
  1.500
  1.560
  1.610
  1.670
  1.730
  1.790
  1.850
  1.910
  1.960
  2.020
  2.070
  2.130
  2.180
  2.230
  2.280
  2.330
  2.370
  2.420
  2.460
  2.500
  2.540
  2.580
  2.610
  2.650
  2.680
  2.710
  2.740
Adjusted equity ratio
  0.223
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229
  0.229

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,134
  2,444
  2,478
  2,519
  2,564
  2,612
  2,664
  2,720
  2,780
  2,844
  2,912
  3,472
  3,549
  3,631
  3,718
  3,809
  3,906
  4,008
  4,116
  4,230
  4,350
  4,477
  4,610
  4,750
  4,898
  5,053
  5,217
  5,389
  5,570
  5,760
  5,960
Depreciation, amort., depletion, $m
  3,529
  1,742
  1,767
  1,795
  1,827
  1,862
  1,901
  1,943
  1,988
  2,037
  2,090
  1,478
  1,538
  1,602
  1,670
  1,742
  1,819
  1,899
  1,985
  2,075
  2,171
  2,271
  2,377
  2,489
  2,607
  2,731
  2,862
  2,999
  3,144
  3,296
  3,456
Funds from operations, $m
  9,214
  4,187
  4,245
  4,314
  4,391
  4,474
  4,565
  4,663
  4,768
  4,881
  5,002
  4,951
  5,088
  5,233
  5,388
  5,552
  5,725
  5,908
  6,101
  6,305
  6,521
  6,748
  6,987
  7,239
  7,505
  7,784
  8,079
  8,388
  8,714
  9,056
  9,417
Change in working capital, $m
  769
  15
  18
  20
  23
  25
  28
  30
  32
  35
  38
  40
  43
  46
  48
  51
  55
  58
  61
  65
  68
  72
  76
  80
  84
  89
  93
  98
  103
  109
  114
Cash from operations, $m
  8,445
  4,172
  4,228
  4,294
  4,368
  4,449
  4,537
  4,633
  4,736
  4,846
  4,965
  4,911
  5,045
  5,188
  5,339
  5,500
  5,670
  5,850
  6,040
  6,241
  6,453
  6,676
  6,911
  7,159
  7,421
  7,696
  7,985
  8,290
  8,610
  8,948
  9,302
Maintenance CAPEX, $m
  0
  -1,052
  -1,075
  -1,099
  -1,128
  -1,159
  -1,195
  -1,233
  -1,275
  -1,321
  -1,370
  -1,422
  -1,478
  -1,538
  -1,602
  -1,670
  -1,742
  -1,819
  -1,899
  -1,985
  -2,075
  -2,171
  -2,271
  -2,377
  -2,489
  -2,607
  -2,731
  -2,862
  -2,999
  -3,144
  -3,296
New CAPEX, $m
  -8,553
  -114
  -124
  -141
  -159
  -176
  -193
  -210
  -227
  -245
  -263
  -281
  -300
  -319
  -339
  -360
  -382
  -404
  -427
  -452
  -477
  -503
  -531
  -559
  -589
  -621
  -653
  -688
  -724
  -761
  -801
Cash from investing activities, $m
  -15,503
  -1,166
  -1,199
  -1,240
  -1,287
  -1,335
  -1,388
  -1,443
  -1,502
  -1,566
  -1,633
  -1,703
  -1,778
  -1,857
  -1,941
  -2,030
  -2,124
  -2,223
  -2,326
  -2,437
  -2,552
  -2,674
  -2,802
  -2,936
  -3,078
  -3,228
  -3,384
  -3,550
  -3,723
  -3,905
  -4,097
Free cash flow, $m
  -7,058
  3,006
  3,029
  3,053
  3,082
  3,114
  3,150
  3,190
  3,233
  3,281
  3,332
  3,207
  3,267
  3,330
  3,398
  3,470
  3,546
  3,627
  3,713
  3,804
  3,901
  4,002
  4,110
  4,223
  4,342
  4,468
  4,601
  4,741
  4,888
  5,042
  5,205
Issuance/(repayment) of debt, $m
  2,205
  1,851
  2,048
  2,341
  2,628
  2,912
  3,195
  3,479
  3,766
  4,057
  4,354
  4,658
  4,971
  5,292
  5,625
  5,968
  6,325
  6,695
  7,080
  7,481
  7,899
  8,335
  8,789
  9,265
  9,762
  10,281
  10,825
  11,394
  11,989
  12,613
  13,267
Issuance/(repurchase) of shares, $m
  -135
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  2,357
  1,851
  2,048
  2,341
  2,628
  2,912
  3,195
  3,479
  3,766
  4,057
  4,354
  4,658
  4,971
  5,292
  5,625
  5,968
  6,325
  6,695
  7,080
  7,481
  7,899
  8,335
  8,789
  9,265
  9,762
  10,281
  10,825
  11,394
  11,989
  12,613
  13,267
Total cash flow (excl. dividends), $m
  -4,701
  4,857
  5,077
  5,394
  5,710
  6,026
  6,345
  6,669
  6,999
  7,338
  7,686
  7,866
  8,237
  8,622
  9,022
  9,438
  9,871
  10,322
  10,793
  11,285
  11,799
  12,337
  12,899
  13,488
  14,104
  14,749
  15,425
  16,134
  16,877
  17,656
  18,472
Retained Cash Flow (-), $m
  149
  -607
  -608
  -695
  -781
  -865
  -949
  -1,033
  -1,119
  -1,205
  -1,293
  -1,384
  -1,476
  -1,572
  -1,671
  -1,773
  -1,879
  -1,989
  -2,103
  -2,222
  -2,346
  -2,475
  -2,611
  -2,752
  -2,899
  -3,054
  -3,215
  -3,384
  -3,561
  -3,746
  -3,941
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  4,249
  4,469
  4,699
  4,929
  5,161
  5,396
  5,635
  5,881
  6,133
  6,393
  6,482
  6,761
  7,050
  7,352
  7,665
  7,992
  8,334
  8,690
  9,063
  9,453
  9,861
  10,288
  10,736
  11,204
  11,696
  12,210
  12,750
  13,316
  13,909
  14,532
Discount rate, %
 
  8.20
  8.61
  9.04
  9.49
  9.97
  10.47
  10.99
  11.54
  12.12
  12.72
  13.36
  14.02
  14.73
  15.46
  16.24
  17.05
  17.90
  18.79
  19.73
  20.72
  21.76
  22.84
  23.99
  25.19
  26.45
  27.77
  29.16
  30.61
  32.15
  33.75
PV of cash for distribution, $m
 
  3,927
  3,788
  3,624
  3,429
  3,209
  2,970
  2,716
  2,455
  2,191
  1,931
  1,632
  1,400
  1,182
  982
  803
  644
  507
  391
  296
  219
  158
  111
  76
  51
  33
  21
  13
  8
  4
  2
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Exelon Corporation is a utility services holding company. The Company, through its subsidiary, Exelon Generation Company, LLC (Generation), is engaged in the energy generation business. The Company, through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Pepco Holdings LLC (PHI), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE), is engaged in the energy delivery businesses. It operates through 12 segments: Generation's six segments: Mid-Atlantic, Midwest, New England, New York, ERCOT and Other Power Regions; ComEd; PECO; BGE, and PHI's three utility segments: Pepco, DPL and ACE. Generation's integrated business consists of the generation, physical delivery and marketing of power across geographical regions through its customer-facing business, Constellation, which sells electricity and natural gas to both wholesale and retail customers.

FINANCIAL RATIOS  of  Exelon (EXC)

Valuation Ratios
P/E Ratio 30.9
Price to Sales 1.1
Price to Book 1.4
Price to Tangible Book
Price to Cash Flow 4.2
Price to Free Cash Flow -324.9
Growth Rates
Sales Growth Rate 6.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 12.2%
Cap. Spend. - 3 Yr. Gr. Rate 9.7%
Financial Strength
Quick Ratio 1
Current Ratio 0.3
LT Debt to Equity 124.7%
Total Debt to Equity 139%
Interest Coverage 2
Management Effectiveness
Return On Assets 1.9%
Ret/ On Assets - 3 Yr. Avg. 2.6%
Return On Total Capital 2%
Ret/ On T. Cap. - 3 Yr. Avg. 3.4%
Return On Equity 4.4%
Return On Equity - 3 Yr. Avg. 6.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 21.9%
EBITDA Margin - 3 Yr. Avg. 21.4%
Operating Margin 9.9%
Oper. Margin - 3 Yr. Avg. 12.1%
Pre-Tax Margin 6.3%
Pre-Tax Margin - 3 Yr. Avg. 8.9%
Net Profit Margin 3.6%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 38.3%
Eff/ Tax Rate - 3 Yr. Avg. 32.4%
Payout Ratio 102.8%

EXC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EXC stock intrinsic value calculation we used $31360 million for the last fiscal year's total revenue generated by Exelon. The default revenue input number comes from 2016 income statement of Exelon. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EXC stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.2%, whose default value for EXC is calculated based on our internal credit rating of Exelon, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Exelon.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EXC stock the variable cost ratio is equal to 85%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for EXC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.3% for Exelon.

Corporate tax rate of 27% is the nominal tax rate for Exelon. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EXC stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EXC are equal to 16.8%.

Life of production assets of 2.8 years is the average useful life of capital assets used in Exelon operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EXC is equal to 2.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $25837 million for Exelon - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 958.132 million for Exelon is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Exelon at the current share price and the inputted number of shares is $36.4 billion.

RELATED COMPANIES Price Int.Val. Rating
NEE NextEra Energy 150.16 63.74  str.sell
PEG Public Service 49.80 20.97  str.sell
EE El Paso Electr 51.65 17.95  str.sell
AEE Ameren 55.16 33.62  sell
PCG PG&E 44.39 38.79  hold
GNE Genie Energy 4.76 0.80  str.sell
DUK Duke Energy 76.82 61.45  sell
ALE Allete 71.98 28.43  str.sell

COMPANY NEWS

▶ How FirstEnergys Dividend Yield Compares to Peers   [Jan-19-18 10:34AM  Market Realist]
▶ Assessing NextEra Energys 4Q17 Earnings and Growth Prospects   [Jan-18-18 04:15PM  Market Realist]
▶ AES: Analysts Views and Target Price   [12:50PM  Market Realist]
▶ AESs Total Returns Compared to Its Peers   [11:20AM  Market Realist]
▶ Analyzing AESs Dividend Yield and Valuation   [09:47AM  Market Realist]
▶ Exelon Offers a Decent Potential Upside from Here   [Jan-15-18 10:30AM  Market Realist]
▶ BGE to reduce residential rates more than originally planned   [Jan-11-18 02:50PM  American City Business Journals]
▶ FirstEnergy: Analysts Views and Price Targets   [Dec-27-17 06:00PM  Market Realist]
▶ Whats Next for FirstEnergy Stock?   [04:30PM  Market Realist]
▶ ETFs with exposure to Exelon Corp. : December 25, 2017   [Dec-25-17 11:54AM  Capital Cube]
▶ Exelon Powers Kids at Bright Beginnings   [07:00AM  Business Wire]
▶ FirstEnergy: Analysts Target Price and Views   [Dec-18-17 07:34AM  Market Realist]
▶ Comparing FirstEnergys Dividend Yield with Its Peers   [Dec-15-17 01:45PM  Market Realist]
▶ Whats Exelons Current Valuation?   [Dec-14-17 02:31PM  Market Realist]
▶ Constellation CEO Joseph Nigro on company's role in Baltimore since 2012 acquisition   [Dec-07-17 03:09PM  American City Business Journals]
▶ Top 3 Nuclear Stocks for 2017   [06:00AM  Investopedia]
▶ Looking at Institutional Activity in Exelon   [Nov-16-17 09:02AM  Market Realist]
▶ FirstEnergy: Analysts Ratings and Target Price   [Nov-10-17 07:32AM  Market Realist]
▶ FirstEnergys Current Valuation Compared to Its Peers   [Nov-09-17 12:50PM  Market Realist]
▶ ETFs with exposure to Exelon Corp. : November 8, 2017   [Nov-08-17 06:04PM  Capital Cube]
▶ Stocks Generating Improved Relative Strength: Exelon   [03:00AM  Investor's Business Daily]
▶ [$$] Exelon Subsidiary Files for Chapter 11 Protection   [Nov-07-17 12:39PM  The Wall Street Journal]
▶ What Analysts Recommend for Exelon in 3Q17   [Nov-06-17 09:02AM  Market Realist]
▶ Stocks Generating Improved Relative Strength: Exelon   [03:00AM  Investor's Business Daily]
▶ How Exelon Stock Responded to 3Q17 Earnings   [Nov-03-17 05:55PM  Market Realist]
▶ Exelons 3Q17 Earnings Missed Estimates   [04:23PM  Market Realist]
Financial statements of EXC
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.