Exelon (EXC): financials, SEC filings and peers

Exelon (EXC) is an electric utilities company in the Utilities sector of the S&P 500, headquartered in Chicago, Illinois.

It was founded in 2000 and joined the S&P 500 on March 4, 1957.

Its fiscal year ends in December, and its shares trade on the Nasdaq.

In its SEC filings it is classified as “Electric & Other Services Combined”.

Exelon at a glance

Revenue (12 months): $24.8B
Revenue growth: +4.6%
Operating margin: 21.0%
Net income (12 months): $2.8B
Free cash flow (12 months): −$2.2B
Cash: $713M
Debt: $50.1B
Diluted EPS (12 months): —

Twelve months to March 31, 2026, from the 10-Q filed May 6, 2026.

Latest twelve months

Over the twelve months to March 31, 2026, Exelon reported revenue of $24.8 billion, about the same as a year earlier (+4.6%).

Its operating margin was 21.0%, up 1.0 percentage points from a year earlier: for every $100 of sales, about $21 was left as operating profit.

Net income was $2.8 billion (11.2% of revenue), 2.5% higher than a year earlier.

Operating cash flow was $6.8 billion and capital spending $8.9 billion, leaving free cash flow of −$2.2 billion (-8.7% of revenue). Capital spending equal to 36% of revenue is high; the company is investing heavily.

At the end of the period it held $713 million in cash and $50.1 billion in debt, a net debt position of $49.4 billion.

The diluted share count rose 1.7% in a year, which dilutes existing shareholders.

Five-year trend

Revenue went from $16.7 billion in fiscal 2020 to $24.3 billion in fiscal 2025, about 7.8% a year.
Revenue has grown for 5 fiscal years in a row.
Operating margin widened from 13.1% to 21.2% over the same years.
Free cash flow was negative in 6 of the last 6 fiscal years.

Fiscal year	2021	2022	2023	2024	2025
Revenue	$17.9B	$19.1B	$21.7B	$23.0B	$24.3B
Revenue growth	7.7%	6.4%	13.9%	6.0%	5.3%
Operating margin	15.0%	17.4%	18.5%	18.8%	21.2%
Net income	$1.8B	$2.2B	$2.3B	$2.5B	$2.8B
Free cash flow	−$5.0B	−$2.3B	−$2.7B	−$1.5B	−$2.3B
Diluted EPS	$1.74	—	—	—	—

Fiscal years as reported in Exelon’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

8-K filed August 25, 2026 — Executive or director change; Regulation FD disclosure
10-Q filed July 30, 2026 — quarterly report
8-K filed July 30, 2026 — Earnings results; Regulation FD disclosure
10-Q filed May 6, 2026 — quarterly report
8-K filed May 6, 2026 — Earnings results; Regulation FD disclosure
8-K filed April 30, 2026 — Shareholder vote results
8-K filed April 16, 2026 — Regulation FD disclosure; Other event
8-K filed February 20, 2026 — Material agreement; New debt obligation

All Exelon filings on SEC EDGAR

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Questions about Exelon

Is Exelon's revenue growing?

Yes. Revenue for the twelve months to March 31, 2026 was $24.8 billion, up 4.6% from a year earlier, according to its SEC filings.

Is Exelon profitable?

Yes. It earned $2.8 billion in net income over the twelve months to March 31, 2026, a net margin of 11.2%.

Does Exelon have more cash or more debt?

At March 31, 2026 it had $713 million in cash and $50.1 billion in debt, so more debt than cash.

When did Exelon last file financial results?

Its latest quarterly report (10-Q) was filed with the SEC on July 30, 2026.

Which companies are similar to Exelon?

In the S&P 500, Exelon is grouped in Electric Utilities within the Utilities sector. American Electric Power (AEP), Constellation Energy (CEG), Duke Energy (DUK), Edison International (EIX), Eversource Energy (ES) are in the same group.

Understand the numbers

Source: Exelon’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.