Exelon Corporation — Earnings Quality Grade F
EXC · Utilities
Major red flags
Screening Summary
Management Signals
Source: SEC EDGAR 8-K Item 5.02, with exhibit links when available
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 50 days, change +6 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 5.3%, CFFO 12.3%. Cash follows revenue
Expense Quality
Inventory 1.8% vs COGS 1.6%. Normal
CapEx growth 20.2% is >2x revenue growth 5.3%
Insufficient data
Gross margin 42.9%, change +2.1pp. Stable
Cash Flow Quality
CFFO/NI = 2.26. Profits backed by cash
FCF < 50% of Net Income for 3 years
Accruals ratio = -3.0%. Low accruals
Cash $0.6B covers only 1% of debt $50.1B
Balance Sheet Health
Goodwill+Intangibles $6.6B = 23% of equity. Manageable
Debt/EBITDA = 5.5x (>4x). Financial stress
Other assets 14.9% vs revenue 5.3%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change 0% YoY. Normal
Manipulation Score
Insufficient data
Portfolio monitoring
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Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25