Exelon (EXC) Financial Forecast Calculator
Interactive 5-year forecast and DCF for Exelon. Adjust revenue growth, gross margin, capex intensity, WACC, and terminal growth - see revenue, free cash flow, and enterprise value update in real time. Seeded from Exelon’s most recent SEC filings.
Assumptions
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Keep iterating on the Exelon forecast in Excel. The downloadable sample has every assumption you see here plus a fully integrated income statement, balance sheet, cash flow, and debt schedule - five years of SEC historicals and live formulas in a fully editable workbook.
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Frequently asked
What is Exelon Corporation's primary business focus?+
Exelon Corporation operates as the largest fully regulated utility company in the United States, focusing exclusively on transmitting and distributing electricity and natural gas. It serves over 10 million customers across various regions, including northern Illinois, southeastern Pennsylvania, central Maryland, and the DC metro area.
How does Exelon generate its revenue as a regulated utility?+
Exelon's revenue is driven by a "cost of service" model, which allows it to recover operating expenses and earn an authorized return on its invested capital, known as the rate base. This regulated structure, combined with revenue decoupling mechanisms in most jurisdictions, insulates its earnings from fluctuations in weather and volumetric usage.
What is Exelon's capital expenditure strategy and its significance?+
Exelon plans substantial capital expenditures, averaging approximately $10.3 billion annually from 2026-2029, totaling $41.3 billion. This exceptionally high capex, representing 40-45% of revenue, is primarily directed towards growth and modernization initiatives like grid resilience, transmission build-out, and gas pipe replacement.
What are the key financial assumptions used in Exelon's corporate model?+
Key assumptions in Exelon's financial model include a revenue growth rate of approximately -10.88%, COGS as 55% of revenue, and SGA as 15% of revenue. The model also assumes a D&A percentage of revenue around 21.31% and a tax rate of about 10.15%.
What is the purpose of the downloadable Excel financial model for Exelon?+
The downloadable Excel model for Exelon projects the company's rate base growth, regulatory earnings, and capital funding requirements. Its primary purpose is to help determine equity valuation and assess the sustainability of dividends for this pure-play regulated utility.
How does Exelon's asset structure impact its financial profile?+
Exelon's business model is highly asset-heavy, with Property, Plant, and Equipment (PP&E) constituting the vast majority of its approximately $100 billion in total assets. This structure reflects its physical grid infrastructure and allows it to earn a regulated return on its invested capital.
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