How does Exelon (EXC) make money?

Exelon (EXC) generates revenue primarily from Pepco Holdings LLC, which accounted for 24.5% of total revenue in TTM through Q1 2026. The company reported $24.79B in revenue and converted 11.2% of it into net profit, equivalent to roughly $2.78B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Exelon (EXC)?

Exelon (EXC) reported a gross profit margin of 24.1% in TTM through Q1 2026, equivalent to $5.98B in gross profit on $24.79B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Exelon (EXC)?

Exelon (EXC) reported an operating profit margin of 21% in TTM through Q1 2026, equivalent to $5.21B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Exelon (EXC)?

Exelon (EXC) reported a net profit margin of 11.2% in TTM through Q1 2026, equivalent to $2.78B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Exelon (EXC) profitable?

Yes. Exelon (EXC) reported $2.78B in net income for TTM through Q1 2026, with a net profit margin of 11.2%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Exelon (EXC) spend on capital expenditures?

Exelon (EXC) spent $8.94B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 36.1% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Exelon (EXC) generate?

Exelon (EXC) generated −$2.16B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of -8.7%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Exelon (EXC)?

Exelon (EXC) had an effective tax rate of 16.6% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Exelon (EXC)?

Exelon (EXC) reports revenue across 7 reportable product segments, led by Pepco Holdings LLC at 24.5% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Exelon Makes Money: 2026 Visual Revenue Map

Exelon (EXC) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 6, 2026).

Exelon discloses geographic revenue only in annual filings. to view the full breakdown.

Exelon (EXC) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Exelon (EXC) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Pepco Holdings LLC	$6.08B	24.5%
Commonwealth Edison Co	$5.85B	23.6%
PECO Energy Co	$4.77B	19.3%
Baltimore Gas and Electric Company	$4.52B	18.2%
Delmarva Power and Light Company	$1.76B	7.1%
Atlantic City Electric Company	$1.45B	5.9%
Corporate Segment and Other Operating Segment	$352.16M	1.4%
Total	$24.79B	100%

Pepco Holdings LLC$6.08B
Commonwealth Edison Co$5.85B
PECO Energy Co$4.77B
Baltimore Gas and Electric Company$4.52B
Delmarva Power and Light Company$1.76B
Atlantic City Electric Company$1.45B
Corporate Segment and Other Operating Segment$352.16M
Total$24.79B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Exelon (EXC) reports revenue across 7 operating segments; the largest segment was Pepco Holdings LLC at 24.5%, followed by Commonwealth Edison Co (23.6%) and PECO Energy Co (19.3%).

Frequently asked questions

Data & methodology

Exelon (EXC) Key Financials

Charts, filings, and peer comparison for every metric

Explore more

Deep-dives across the income statement, cash flow, capital return, and valuation

Overview

EXC Overview

Counters

Income Statement

Cash Flow

Capital Return

Forecast & Valuation