We’ve recently updated our valuation analysis.

Exelon Valuation

Is EXC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for EXC?

Other financial metrics that can be useful for relative valuation.

EXC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.2x
Enterprise Value/EBITDA12.7x
PEG Ratio2.7x

Price to Earnings Ratio vs Peers

How does EXC's PE Ratio compare to its peers?

The above table shows the PE ratio for EXC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average20.3x
XEL Xcel Energy
22.5x6.6%US$37.7b
AEP American Electric Power Company
20.2x8.5%US$49.7b
PCG PG&E
17.6x11.8%US$30.9b
ES Eversource Energy
21x7.9%US$29.2b
EXC Exelon
19.6x7.4%US$42.0b

Price-To-Earnings vs Peers: EXC is good value based on its Price-To-Earnings Ratio (19.6x) compared to the peer average (20.3x).


Price to Earnings Ratio vs Industry

How does EXC's PE Ratio compare vs other companies in the US Electric Utilities Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.7%
n/an/an/a

Price-To-Earnings vs Industry: EXC is expensive based on its Price-To-Earnings Ratio (19.6x) compared to the US Electric Utilities industry average (19.2x)


Price to Earnings Ratio vs Fair Ratio

What is EXC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EXC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.6x
Fair PE Ratio25.2x

Price-To-Earnings vs Fair Ratio: EXC is good value based on its Price-To-Earnings Ratio (19.6x) compared to the estimated Fair Price-To-Earnings Ratio (25.2x).


Share Price vs Fair Value

What is the Fair Price of EXC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: EXC ($42.31) is trading above our estimate of fair value ($34.11)

Significantly Below Fair Value: EXC is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst EXC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$42.31
US$43.19
+2.1%
6.2%US$48.00US$39.00n/a16
Dec ’23US$41.53
US$43.06
+3.7%
5.8%US$47.00US$39.00n/a16
Nov ’23US$38.76
US$43.69
+12.7%
6.6%US$50.00US$39.00n/a16
Oct ’23US$37.46
US$48.76
+30.2%
6.7%US$55.00US$41.00n/a17
Sep ’23US$44.45
US$48.88
+10.0%
7.0%US$55.00US$41.00n/a17
Aug ’23US$46.11
US$48.12
+4.4%
5.8%US$53.00US$41.00n/a17
Jul ’23US$46.07
US$48.65
+5.6%
6.8%US$54.00US$41.00n/a17
Jun ’23US$49.19
US$49.29
+0.2%
7.1%US$54.00US$41.00n/a17
May ’23US$46.78
US$50.18
+7.3%
9.9%US$61.00US$39.00n/a17
Apr ’23US$47.66
US$47.41
-0.5%
8.9%US$61.00US$39.00n/a17
Mar ’23US$42.23
US$48.59
+15.1%
13.4%US$65.00US$39.00n/a17
Feb ’23US$57.83
US$61.94
+7.1%
9.1%US$74.00US$48.00n/a16
Jan ’23US$57.76
US$58.07
+0.5%
8.4%US$69.00US$48.00n/a14
Dec ’22US$52.29
US$57.79
+10.5%
9.8%US$72.00US$48.00US$41.5314
Nov ’22US$53.89
US$55.77
+3.5%
8.9%US$65.00US$45.00US$38.7615
Oct ’22US$47.79
US$54.37
+13.8%
9.6%US$66.00US$45.00US$37.4615
Sep ’22US$49.60
US$51.70
+4.2%
10.7%US$66.00US$42.00US$44.4515
Aug ’22US$46.80
US$50.13
+7.1%
10.6%US$63.00US$40.00US$46.1115
Jul ’22US$44.98
US$49.56
+10.2%
10.1%US$60.00US$38.00US$46.0716
Jun ’22US$45.14
US$49.38
+9.4%
9.3%US$58.00US$39.00US$49.1916
May ’22US$44.94
US$48.88
+8.8%
11.3%US$59.00US$34.00US$46.7816
Apr ’22US$43.91
US$47.63
+8.5%
10.4%US$55.00US$34.00US$47.6616
Mar ’22US$39.31
US$47.24
+20.2%
10.5%US$55.00US$34.00US$42.2317
Feb ’22US$42.08
US$47.61
+13.1%
11.0%US$56.00US$34.00US$57.8318
Jan ’22US$42.22
US$47.61
+12.8%
11.0%US$56.00US$36.00US$57.7618
Dec ’21US$41.25
US$47.61
+15.4%
11.3%US$59.00US$36.00US$52.2918

Analyst Forecast: Target price is less than 20% higher than the current share price.


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