Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Exelon Corporation (EXC)

Company Dividend Discount ModelIndustry: Regulated ElectricSector: Utilities

Valuation Snapshot

Stable Growth$11.74 - $15.66$13.76
Multi-Stage$24.67 - $27.16$25.89
Blended Fair Value$19.83
Current Price$45.01
Upside-55.95%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-11.23%-3.12%0.771.421.321.491.481.401.321.231.161.10
YoY Growth---45.85%7.42%-10.89%0.34%5.97%5.71%7.77%6.00%5.52%3.76%
Dividend Yield--1.67%3.82%3.16%3.12%4.75%5.32%3.72%4.41%4.51%4.29%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,821.00
(-) Cash Dividends Paid (M)1,594.00
(=) Cash Retained (M)1,227.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)564.20352.63211.58
Cash Retained (M)1,227.001,227.001,227.00
(-) Cash Required (M)-564.20-352.63-211.58
(=) Excess Retained (M)662.80874.381,015.43
(/) Shares Outstanding (M)1,007.391,007.391,007.39
(=) Excess Retained per Share0.660.871.01
LTM Dividend per Share1.581.581.58
(+) Excess Retained per Share0.660.871.01
(=) Adjusted Dividend2.242.452.59
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-8.40%-7.40%-6.40%
Fair Value$11.74$13.76$15.66
Upside / Downside-73.92%-69.42%-65.21%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,821.002,612.162,418.782,239.712,073.911,920.371,977.98
Payout Ratio56.50%63.20%69.90%76.60%83.30%90.00%92.50%
Projected Dividends (M)1,594.001,650.981,690.801,715.661,727.581,728.331,829.63

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-8.40%-7.40%-6.40%
Year 1 PV (M)1,497.211,513.551,529.90
Year 2 PV (M)1,390.491,421.021,451.88
Year 3 PV (M)1,279.531,321.891,365.19
Year 4 PV (M)1,168.411,220.281,273.85
Year 5 PV (M)1,060.041,119.191,180.94
PV of Terminal Value (M)18,456.8119,486.5620,561.75
Equity Value (M)24,852.5026,082.4927,363.51
Shares Outstanding (M)1,007.391,007.391,007.39
Fair Value$24.67$25.89$27.16
Upside / Downside-45.19%-42.48%-39.65%

High-Yield Dividend Screener

« Prev Page 4 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
VKQInvesco Municipal Trust8.62%$0.8469.07%
ARCCAres Capital Corporation8.61%$1.7691.56%
TPVGTriplePoint Venture Growth BDC Corp.8.52%$0.5767.26%
C-PJCitigroup Inc.8.49%$2.1326.99%
RVTRoyce Value Trust Inc.8.42%$1.3639.40%
OGNOrganon & Co.8.37%$0.6131.54%
MITTAG Mortgage Investment Trust, Inc.8.12%$0.7043.47%
CAGConagra Brands, Inc.8.06%$1.3978.70%
NOGNorthern Oil and Gas, Inc.8.02%$1.7794.64%
PAAPlains All American Pipeline, L.P.8.00%$1.4690.71%
TSLXSixth Street Specialty Lending, Inc.8.00%$1.7385.26%
ACCOACCO Brands Corporation7.90%$0.2967.00%
ETDEthan Allen Interiors Inc.7.90%$1.8197.75%
CQPCheniere Energy Partners, L.P.7.82%$4.2388.03%
UNMAUnum Group 6.250% JR NT587.69%$1.7933.52%
WRB-PHW.R. Berkley Corporation 4.125%7.68%$1.2726.69%
JHSJohn Hancock Income Securities Trust7.65%$0.8994.90%
NIDNuveen Intermediate Duration Municipal Term Fund7.59%$1.0284.59%
HWCPZHancock Whitney Corporation - 67.58%$1.7731.35%
WRB-PGW.R. Berkley Corporation 4.25%7.54%$1.2726.69%
NMTNuveen Massachusetts Quality Municipal Income Fund7.48%$0.8580.62%
LOANManhattan Bridge Capital, Inc.7.45%$0.3574.53%
OPALOPAL Fuels Inc.7.43%$0.1846.94%
ZIONLZions Bancorporation N.A. - 6.97.42%$1.8632.04%
GMTAGATX Corporation SR NT 20667.41%$1.8621.29%
IIMInvesco Value Municipal Income Trust7.41%$0.9264.33%
JMMNuveen Multi-Market Income Fund7.28%$0.4461.06%
BKEThe Buckle, Inc.7.26%$3.9196.21%
MHIPioneer Municipal High Income Fund, Inc.7.19%$0.6413.70%
ORIOld Republic International Corporation7.19%$3.1193.13%
PMFPIMCO Municipal Income Fund7.07%$0.5992.59%
RYNRayonier Inc.7.04%$1.5230.67%
DRQDril-Quip, Inc.7.02%$1.0850.37%
TRINITrinity Capital Inc. 7.875% Notes Due 20297.02%$1.7883.48%
C-PNCitigroup Capital XIII TR PFD SECS7.01%$2.1326.99%
VPVInvesco Pennsylvania Value Municipal Income Trust6.98%$0.7360.22%
VCVInvesco California Value Municipal Income Trust6.97%$0.7860.58%
EOTEaton Vance National Municipal Opportunities Trust6.96%$1.1869.84%
FLATXFidelity Latin America Fund6.92%$1.1539.63%
EGYVAALCO Energy, Inc.6.91%$0.2592.67%
NOMNuveen Missouri Quality Municipal Income Fund6.91%$0.8278.81%
UBCPUnited Bancorp, Inc.6.90%$0.9996.30%
TBCAT&T Inc. 5.625% Global Notes d6.89%$1.7255.65%
GTNGray Media, Inc.6.87%$0.3334.04%
HEPHolly Energy Partners, L.P.6.86%$1.4074.08%
AFGAmerican Financial Group, Inc.6.85%$9.2396.49%
BANFPBFC Capital Trust II PFD TR 7.20%6.85%$1.8025.72%
CFG-PDCitizens Financial Group, Inc.6.83%$1.7143.60%
RCIIRent-A-Center, Inc.6.81%$1.8279.98%
SPHSuburban Propane Partners, L.P.6.81%$1.2778.56%