EXC Exelon
FY2025 10-K
Exelon (EXC) filed its fiscal year 2025 10-K annual report with the SEC on Feb 12, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business model: Holding company conducting energy generation, transmission, and distribution through subsidiaries including ComEd, PECO, BGE, and PHI
- • New financing: Issued $1 billion of 3.25% Convertible Senior Notes due 2029 with conversion price ~$57.11 per share
Management Discussion & Analysis
- • Net income $2,768M in 2025, up $308M from $2,460M in 2024; diluted EPS $2.73 vs $2.45
- • Adjusted operating earnings $2,801M in 2025, up $294M from $2,507M in 2024; adjusted EPS $2.77 vs $2.50
Risk Factors
- • Regulatory risk: Need FERC renewal for short-term financing; approvals granted for most utilities starting Jan 1, 2026, but dependencies remain on ICC, PAPUC, MDPSC, DCPSC, DEPSC, NJBPU
- • Macroeconomic threat: Incremental collateral requirements at ComEd $27M, PECO $58M, BGE $43M, DPL $14M if downgraded from investment grade credit rating as of Dec 31, 2025
Financial SummaryXBRL
Revenue
$24.3B
Net Income
$2.8B
Operating Margin
21.2%
Net Margin
11.4%
ROE
9.6%
Total Assets
$116.6B
Operating Cash Flow
$6.3B
Source: XBRL data from Exelon FY2025 10-K filing on SEC EDGAR. All figures in USD.
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