Comprehensive Stock Comparison
Compare Exelon Corporation (EXC) vs FirstEnergy Corp. (FE) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | FE | 12.0% revenue growth vs EXC's 5.3% |
| Value | EXC | Lower P/E (17.4x vs 18.7x) |
| Quality / Margins | EXC | 11.6% net margin vs FE's 8.4% |
| Stability / Safety | EXC | Lower D/E ratio (172.5% vs 188.4%) |
| Dividends | FE | 3.4% yield, 4-year raise streak, vs EXC's 3.2% |
| Momentum (1Y) | FE | +36.5% vs EXC's +14.6% |
| Efficiency (ROA) | EXC | 2.5% ROA vs FE's 2.3%, ROIC 5.1% vs 5.4% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Exelon is a major regulated electric utility that operates one of the largest clean energy generation fleets in the U.S., primarily from nuclear power. It makes money through regulated electricity distribution and transmission services—which provide stable cash flows—and wholesale power generation from its nuclear, renewable, and fossil fuel plants. Its key advantage is its massive scale as the largest nuclear operator in the U.S., giving it cost advantages and regulatory expertise in clean energy markets.
FirstEnergy is a regulated electric utility that generates, transmits, and distributes electricity to approximately 6 million customers across six Mid-Atlantic and Midwestern states. It makes money primarily through regulated rate structures — with its distribution segment contributing about 60% of revenue and transmission about 40% — earning a government-approved return on its infrastructure investments. Its key advantage is its monopoly-like position as a regulated utility with exclusive service territories, providing stable cash flows through cost-plus regulation.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
FE leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). EXC leads in 1 (Valuation Metrics). 2 tied.
Financial Metrics (TTM)
EXC is the larger business by revenue, generating $24.3B annually — 1.6x FE's $15.1B. Profitability is closely matched — net margins range from 11.6% (EXC) to 8.4% (FE). On growth, FE holds the edge at +19.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | EXCExelon Corporation | FEFirstEnergy Corp. |
|---|---|---|
| RevenueTrailing 12 months | $24.3B | $15.1B |
| EBITDAEarnings before interest/tax | $8.7B | $4.4B |
| Net IncomeAfter-tax profit | $2.8B | $1.3B |
| Free Cash FlowCash after capex | -$1.6B | $2.5B |
| Gross MarginGross profit ÷ Revenue | +42.5% | +65.3% |
| Operating MarginEBIT ÷ Revenue | +20.8% | +18.8% |
| Net MarginNet income ÷ Revenue | +11.6% | +8.4% |
| FCF MarginFCF ÷ Revenue | -6.6% | +16.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.0% | +19.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +22.9% | -118.7% |
Valuation Metrics
At 18.1x trailing earnings, EXC trades at a 38% valuation discount to FE's 29.1x P/E. On an enterprise value basis, FE's 6.1x EV/EBITDA is more attractive than EXC's 11.3x.
| Metric | EXCExelon Corporation | FEFirstEnergy Corp. |
|---|---|---|
| Market CapShares × price | $50.0B | $697M |
| Enterprise ValueMkt cap + debt − cash | $99.7B | $26.9B |
| Trailing P/EPrice ÷ TTM EPS | 18.12x | 29.07x |
| Forward P/EPrice ÷ next-FY EPS est. | 17.40x | 18.74x |
| PEG RatioP/E ÷ EPS growth rate | 2.87x | — |
| EV / EBITDAEnterprise value multiple | 11.34x | 6.12x |
| Price / SalesMarket cap ÷ Revenue | 2.06x | 0.05x |
| Price / BookPrice ÷ Book value/share | 1.74x | 2.12x |
| Price / FCFMarket cap ÷ FCF | — | 0.19x |
Profitability & Efficiency
EXC delivers a 10.0% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $9 for FE. EXC carries lower financial leverage with a 1.73x debt-to-equity ratio, signaling a more conservative balance sheet compared to FE's 1.88x. On the Piotroski fundamental quality scale (0–9), FE scores 5/9 vs EXC's 3/9, reflecting solid financial health.
| Metric | EXCExelon Corporation | FEFirstEnergy Corp. |
|---|---|---|
| ROE (TTM)Return on equity | +10.0% | +9.1% |
| ROA (TTM)Return on assets | +2.5% | +2.3% |
| ROICReturn on invested capital | +5.1% | +5.4% |
| ROCEReturn on capital employed | — | +7.6% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 |
| Debt / EquityFinancial leverage | 1.73x | 1.88x |
| Net DebtTotal debt minus cash | $49.7B | $26.2B |
| Cash & Equiv.Liquid assets | — | $57M |
| Total DebtShort + long-term debt | $49.7B | $26.2B |
| Interest CoverageEBIT ÷ Interest expense | — | 2.49x |
Total Returns (with DRIP)
A $10,000 investment in EXC five years ago would be worth $20,147 today (with dividends reinvested), compared to $17,767 for FE. Over the past 12 months, FE leads with a +36.5% total return vs EXC's +14.6%. The 3-year compound annual growth rate (CAGR) favors FE at 12.5% vs EXC's 9.9% — a key indicator of consistent wealth creation.
| Metric | EXCExelon Corporation | FEFirstEnergy Corp. |
|---|---|---|
| YTD ReturnYear-to-date | +12.6% | +14.0% |
| 1-Year ReturnPast 12 months | +14.6% | +36.5% |
| 3-Year ReturnCumulative with dividends | +32.9% | +42.2% |
| 5-Year ReturnCumulative with dividends | +101.5% | +77.7% |
| 10-Year ReturnCumulative with dividends | +172.6% | +99.6% |
| CAGR (3Y)Annualised 3-year return | +9.9% | +12.5% |
Risk & Volatility
EXC is the less volatile stock with a -0.04 beta — it tends to amplify market swings less than FE's 0.07 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | EXCExelon Corporation | FEFirstEnergy Corp. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | -0.04x | 0.07x |
| 52-Week HighHighest price in past year | $49.88 | $51.34 |
| 52-Week LowLowest price in past year | $41.71 | $37.58 |
| % of 52W HighCurrent price vs 52-week peak | +99.2% | +99.6% |
| RSI (14)Momentum oscillator 0–100 | 69.9 | 71.9 |
| Avg Volume (50D)Average daily shares traded | 6.6M | 3.9M |
Analyst Outlook
Wall Street rates EXC as "Hold" and FE as "Hold". Consensus price targets imply 2.2% upside for EXC (target: $51) vs -1.3% for FE (target: $51). For income investors, FE offers the higher dividend yield at 3.44% vs EXC's 3.23%.
| Metric | EXCExelon Corporation | FEFirstEnergy Corp. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $50.55 | $50.50 |
| # AnalystsCovering analysts | 35 | 27 |
| Dividend YieldAnnual dividend ÷ price | +3.2% | +3.4% |
| Dividend StreakConsecutive years of raises | 1 | 4 |
| Dividend / ShareAnnual DPS | $1.60 | $1.76 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Exelon Corporation (EXC) | 100 | 135.57 | +35.6% |
| FirstEnergy Corp. (FE) | 100 | 99.3 | -0.7% |
Exelon Corporation (EXC) returned +101% over 5 years vs FirstEnergy Corp. (FE)'s +78%. A $10,000 investment in EXC 5 years ago would be worth $20,147 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelon Corporation (EXC) | $31.4B | $24.3B | -22.6% |
| FirstEnergy Corp. (FE) | $14.6B | $15.1B | +3.6% |
Exelon Corporation's revenue grew from $31.4B (2016) to $24.3B (2025) — a -2.8% CAGR. FirstEnergy Corp.'s revenue grew from $14.6B (2016) to $15.1B (2025) — a 0.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelon Corporation (EXC) | 3.6% | 11.4% | +215.6% |
| FirstEnergy Corp. (FE) | -42.4% | 8.4% | +119.9% |
Exelon Corporation's net margin went from 4% (2016) to 11% (2025). FirstEnergy Corp.'s net margin went from -42% (2016) to 8% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Exelon Corporation (EXC) | 7.1 | 16 | +125.4% |
| FirstEnergy Corp. (FE) | 18.9 | 25.4 | +34.4% |
Exelon Corporation has traded in a 7x–24x P/E range over 9 years; current trailing P/E is ~18x. FirstEnergy Corp. has traded in a 15x–59x P/E range over 8 years; current trailing P/E is ~29x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Exelon Corporation (EXC) | 1.22 | 2.73 | +123.8% |
| FirstEnergy Corp. (FE) | -14.49 | 1.76 | +112.1% |
Exelon Corporation's EPS grew from $1.22 (2016) to $2.73 (2025) — a 9% CAGR. FirstEnergy Corp.'s EPS grew from $-14.49 (2016) to $1.76 (2025).
Chart 6Free Cash Flow — 5 Years
Exelon Corporation generated $-2B FCF in 2025 (+54% vs 2021). FirstEnergy Corp. generated $4B FCF in 2025 (+911% vs 2021).
EXC vs FE: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is EXC or FE a better buy right now?
Exelon Corporation (EXC) offers the better valuation at 18.1x trailing P/E (17.4x forward), making it the more compelling value choice. Analysts rate Exelon Corporation (EXC) a "Hold" — based on 35 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — EXC or FE?
On trailing P/E, Exelon Corporation (EXC) is the cheapest at 18.1x versus FirstEnergy Corp. at 29.1x. On forward P/E, Exelon Corporation is actually cheaper at 17.4x.
03Which is the better long-term investment — EXC or FE?
Over the past 5 years, Exelon Corporation (EXC) delivered a total return of +101.5%, compared to +77.7% for FirstEnergy Corp. (FE). A $10,000 investment in EXC five years ago would be worth approximately $20K today (assuming dividends reinvested). Over 10 years, the gap is even starker: EXC returned +172.6% versus FE's +99.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — EXC or FE?
By beta (market sensitivity over 5 years), Exelon Corporation (EXC) is the lower-risk stock at -0.04β versus FirstEnergy Corp.'s 0.07β — meaning FE is approximately -281% more volatile than EXC relative to the S&P 500. On balance sheet safety, Exelon Corporation (EXC) carries a lower debt/equity ratio of 173% versus 188% for FirstEnergy Corp. — giving it more financial flexibility in a downturn.
05Which has better profit margins — EXC or FE?
Exelon Corporation (EXC) is the more profitable company, earning 11.4% net margin versus 8.4% for FirstEnergy Corp. — meaning it keeps 11.4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EXC leads at 21.2% versus 18.8% for FE. At the gross margin level — before operating expenses — FE leads at 65.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is EXC or FE more undervalued right now?
On forward earnings alone, Exelon Corporation (EXC) trades at 17.4x forward P/E versus 18.7x for FirstEnergy Corp. — 1.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for EXC: 2.2% to $50.55.
07Which pays a better dividend — EXC or FE?
All stocks in this comparison pay dividends. FirstEnergy Corp. (FE) offers the highest yield at 3.4%, versus 3.2% for Exelon Corporation (EXC).
08Is EXC or FE better for a retirement portfolio?
For long-horizon retirement investors, Exelon Corporation (EXC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0.04), 3.2% yield, +172.6% 10Y return). Both have compounded well over 10 years (EXC: +172.6%, FE: +99.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between EXC and FE?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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