Exelon Corporation (EXC) Balance Sheet

NASDAQ: EXCAssets, liabilities, debt and equity over 10 years.

EXC balance sheet, 2025

December 31, 2025 · U.S. dollars

$116.57B assets = $87.77B liabilities + $28.80B equity

Both columns are drawn to the same scale: what EXC owns equals what it owes plus shareholders’ equity. Hover a block for its value.

EXC financial health

Current ratio0.92

Tight · current assets cover current liabilities 0.92×

Debt / equity1.76

High leverage · $1.76 of debt for each $1 of equity

Equity / assets24.7%

Balanced · of assets funded by shareholders

Cash / debt2.3%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles5.7%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

EXC balance sheet trends, 2016–2025

Exelon Corporation balance sheet trends
Metric	Then	Latest	Change
Total assets	$114.90B2016	$116.57B2025	+0.2%/yr
Total liabilities	$87.29B2016	$87.77B2025	+0.1%/yr
Shareholders’ equity	$25.84B2016	$28.80B2025	+1.2%/yr
Cash & short-term investments	$635.0M2016	$1.15B2025	+6.8%/yr
Total debt	$35.91B2016	$50.55B2025	+3.9%/yr
Net cash (debt)	−$35.28B2016	−$49.40B2025	−$14.1B
Working capital	−$1.04B2016	−$785.0M2025	+$260.0M
Book value per share	$27.872016	$28.462025	+0.2%/yr
Current ratio	0.922016	0.922025	0.00
Debt / equity	1.392016	1.762025	+0.37
Shares outstanding	927.0M2016	1.01B2025	+1.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

EXC assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

EXC liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

EXC debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

EXC balance sheet

Exelon Corporation annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$1.15B	$357.0M	$445.0M	$407.0M	$672.0M	$663.0M	$587.0M	$1.35B	$1.10B	$635.0M
Cash & equivalents	$1.15B	$357.0M	$445.0M	$407.0M	$672.0M	$663.0M	$587.0M	$1.35B	$1.10B	$635.0M
Short-term investments	—	—	$12.0M	—	$16.13B	$134.0M	—	—	$207.0M	$253.0M
Receivables	$5.08B	$3.75B	$3.36B	$3.56B	$2.87B	$4.63B	$6.17B	$5.86B	$5.58B	$5.36B
Inventory	$868.0M	$853.0M	$801.0M	$755.0M	$581.0M	$1.72B	$1.77B	$1.69B	$1.65B	$1.64B
Other current assets	$2.44B	$3.42B	$3.48B	$2.61B	$9.84B	$5.55B	$3.51B	$4.43B	$3.50B	$4.78B
Total current assets	$9.55B	$8.38B	$8.09B	$7.34B	$13.96B	$12.56B	$12.04B	$13.33B	$11.83B	$12.41B
Property, plant & equipment (net)	$84.32B	$78.18B	$73.59B	$69.08B	$64.56B	$82.58B	$80.23B	$76.71B	$74.20B	$71.56B
Goodwill & intangible assets	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.68B	$6.85B	$6.79B	$7.07B	$7.12B
Long-term investments	$312.0M	$290.0M	$251.0M	$232.0M	$16.38B	$14.90B	$13.65B	$12.29B	$14.64B	$11.69B
Other non-current assets	$15.76B	$14.30B	$13.29B	$12.07B	$31.49B	$12.59B	$12.20B	$10.52B	$9.02B	$12.12B
Total assets	$116.57B	$107.78B	$101.86B	$95.35B	$133.01B	$129.32B	$124.98B	$119.63B	$116.77B	$114.90B
Liabilities
Accounts payable	$3.72B	$2.99B	$2.85B	$3.38B	$2.38B	$3.56B	$3.56B	$3.80B	$3.53B	$3.44B
Short-term debt	$2.75B	$3.31B	$3.93B	$4.39B	$3.40B	$3.85B	$6.08B	$2.06B	$3.02B	$3.70B
Deferred revenue	$5.0M	$451.0M	$419.0M	$10.0M	$89.0M	$100.0M	$132.0M	$149.0M	$231.0M	$407.0M
Total current liabilities	$10.33B	$9.61B	$9.90B	$10.61B	$16.11B	$12.77B	$14.19B	$11.40B	$10.80B	$13.46B
Long-term debt	$47.80B	$43.34B	$40.08B	$35.27B	$35.32B	$35.09B	$31.33B	$34.08B	$32.18B	$32.22B
Other long-term liabilities	$29.64B	$27.91B	$26.12B	$24.72B	$46.78B	$46.59B	$44.89B	$41.11B	$41.61B	$41.62B
Total liabilities	$87.77B	$80.86B	$76.10B	$70.61B	$98.22B	$94.45B	$90.40B	$86.59B	$84.58B	$87.29B
Shareholders' equity
Common stock & paid-in capital	$22.11B	$21.34B	$21.11B	$20.91B	$20.32B	$19.37B	$19.27B	$19.12B	$18.96B	$18.79B
Retained earnings (deficit)	$7.58B	$6.43B	$5.49B	$4.60B	$16.94B	$16.73B	$16.27B	$14.74B	$14.08B	$12.03B
Treasury stock	—	—	—	−$123.0M	−$123.0M	−$123.0M	−$123.0M	−$123.0M	−$123.0M	−$2.33B
Accumulated other comprehensive income	−$762.0M	−$720.0M	−$726.0M	−$638.0M	−$2.75B	−$3.40B	−$3.19B	−$3.00B	−$3.03B	−$2.66B
Minority interest	—	—	—	$0	$402.0M	$2.28B	$2.35B	$2.31B	$2.27B	$0
Total shareholders' equity	$28.80B	$26.92B	$25.75B	$24.74B	$34.80B	$32.59B	$32.22B	$30.74B	$29.90B	$25.84B
Key figures
Total debt	$50.55B	$46.65B	$44.01B	$40.05B	$38.73B	$39.33B	$37.80B	$36.53B	$35.58B	$35.91B
Net cash (debt)	−$49.40B	−$46.29B	−$43.56B	−$39.64B	−$38.05B	−$38.67B	−$37.21B	−$35.18B	−$34.48B	−$35.28B
Working capital	−$785.0M	−$1.23B	−$1.81B	−$3.27B	−$2.15B	−$209.0M	−$2.15B	$1.92B	$1.04B	−$1.04B
Tangible book value	$22.17B	$20.29B	$19.12B	$18.11B	$28.16B	$25.91B	$25.37B	$23.95B	$22.82B	$18.71B
Book value per share	$28.46	$26.84	$25.83	$25.07	$35.51	$33.35	$33.08	$31.72	$31.50	$27.87
Shares outstanding	1.01B	1.00B	997.0M	987.0M	980.0M	977.0M	974.0M	969.0M	949.0M	927.0M
Current ratio	0.92	0.87	0.82	0.69	0.87	0.98	0.85	1.17	1.10	0.92
Quick ratio	0.60	0.43	0.38	0.37	0.22	0.41	0.48	0.63	0.62	0.45
Debt / equity	1.76	1.73	1.71	1.62	1.11	1.21	1.17	1.19	1.19	1.39
Equity / assets	24.7%	25.0%	25.3%	26.0%	26.2%	25.2%	25.8%	25.7%	25.6%	22.5%

Exelon Corporation quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$1.25B	$1.27B	$1.15B	$2.05B	$724.0M	$1.00B	$357.0M	$616.0M	$934.0M	$720.0M	$445.0M	$300.0M
Cash & equivalents	$1.25B	$1.27B	$1.15B	$2.05B	$724.0M	$1.00B	$357.0M	$616.0M	$934.0M	$720.0M	$445.0M	$300.0M
Short-term investments	—	—	—	—	—	—	—	−$4.39B	—	—	$12.0M	$3.0M
Receivables	$4.60B	$4.69B	$5.08B	$4.00B	$4.11B	$4.02B	$3.75B	$3.66B	$3.71B	$3.58B	$3.36B	$3.31B
Inventory	$850.0M	$846.0M	$868.0M	$888.0M	$868.0M	$833.0M	$853.0M	$855.0M	$824.0M	$788.0M	$801.0M	$762.0M
Other current assets	$2.30B	$2.19B	$2.44B	$2.29B	$2.97B	$2.95B	$3.42B	$2.89B	$3.09B	$3.12B	$3.48B	$3.14B
Total current assets	$9.00B	$9.00B	$9.55B	$9.23B	$8.68B	$8.80B	$8.38B	$8.02B	$8.56B	$8.21B	$8.09B	$7.52B
Property, plant & equipment (net)	$88.50B	$85.56B	$84.32B	$82.10B	$80.61B	$79.18B	$78.18B	$76.66B	$75.65B	$74.60B	$73.59B	$72.46B
Goodwill & intangible assets	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B	$6.63B
Long-term investments	$327.0M	$317.0M	$312.0M	$307.0M	$297.0M	$289.0M	$290.0M	$279.0M	$270.0M	$263.0M	$251.0M	$246.0M
Other non-current assets	$16.05B	$16.03B	$15.76B	$15.27B	$14.94B	$14.59B	$14.30B	$14.48B	$14.01B	$13.50B	$13.29B	$12.41B
Total assets	$120.50B	$117.55B	$116.57B	$113.54B	$111.15B	$109.48B	$107.78B	$106.07B	$105.11B	$103.21B	$101.86B	$99.26B
Liabilities
Accounts payable	$3.48B	$3.12B	$3.72B	$3.24B	$3.04B	$2.69B	$2.99B	$2.65B	$2.81B	$2.81B	$2.85B	$2.68B
Short-term debt	$1.97B	$3.21B	$2.75B	$3.60B	$2.93B	$2.54B	$3.31B	$1.99B	$2.76B	$2.71B	$3.93B	$3.37B
Deferred revenue	$589.0M	$5.0M	$5.0M	$5.0M	$491.0M	$470.0M	$451.0M	$438.0M	$432.0M	$426.0M	$419.0M	$8.0M
Total current liabilities	$9.01B	$9.59B	$10.33B	$9.82B	$9.16B	$8.10B	$9.61B	$7.38B	$8.28B	$7.97B	$9.90B	$8.80B
Long-term debt	$50.70B	$48.25B	$47.80B	$46.67B	$45.92B	$45.73B	$43.34B	$44.09B	$43.43B	$42.66B	$40.08B	$39.82B
Other long-term liabilities	$31.10B	$30.39B	$29.64B	$28.93B	$28.45B	$28.04B	$27.91B	$27.97B	$27.26B	$26.51B	$26.12B	$25.17B
Total liabilities	$90.81B	$88.23B	$87.77B	$85.43B	$83.53B	$81.88B	$80.86B	$79.45B	$78.96B	$77.15B	$76.10B	$73.79B
Shareholders' equity
Common stock & paid-in capital	$22.54B	$22.13B	$22.11B	$21.56B	$21.54B	$21.52B	$21.34B	$21.32B	$21.15B	$21.13B	$21.11B	$20.96B
Retained earnings (deficit)	$8.03B	$8.06B	$7.58B	$7.39B	$6.92B	$6.93B	$6.43B	$6.16B	$5.83B	$5.77B	$5.49B	$5.23B
Accumulated other comprehensive income	−$750.0M	−$756.0M	−$762.0M	−$715.0M	−$718.0M	−$718.0M	−$720.0M	−$736.0M	−$712.0M	−$712.0M	−$726.0M	−$596.0M
Total shareholders' equity	$29.70B	$29.32B	$28.80B	$28.11B	$27.62B	$27.61B	$26.92B	$26.62B	$26.15B	$26.06B	$25.75B	$25.47B
Key figures
Total debt	$52.28B	$51.46B	$50.55B	$50.27B	$48.84B	$48.27B	$46.65B	$46.08B	$46.19B	$45.37B	$44.01B	$43.20B
Net cash (debt)	−$51.03B	−$50.19B	−$49.40B	−$48.22B	−$48.12B	−$47.27B	−$46.29B	−$45.46B	−$45.26B	−$44.65B	−$43.56B	−$42.90B
Working capital	−$8.0M	−$586.0M	−$785.0M	−$596.0M	−$480.0M	$696.0M	−$1.23B	$639.0M	$282.0M	$237.0M	−$1.81B	−$1.28B
Tangible book value	$23.07B	$22.68B	$22.17B	$21.48B	$20.99B	$20.98B	$20.29B	$19.99B	$19.52B	$19.43B	$19.12B	$18.84B
Book value per share	$28.89	$28.57	$28.46	$27.75	$27.55	$27.36	$26.79	$26.52	$26.13	$26.03	$25.78	$25.55
Shares outstanding	1.03B	1.03B	1.01B	1.01B	1.00B	1.01B	1.00B	1.00B	1.00B	1.00B	999.0M	997.0M
Current ratio	1.00	0.94	0.92	0.94	0.95	1.09	0.87	1.09	1.03	1.03	0.82	0.85
Quick ratio	0.65	0.62	0.60	0.62	0.53	0.62	0.43	0.58	0.56	0.54	0.38	0.41
Debt / equity	1.76	1.76	1.76	1.79	1.77	1.75	1.73	1.73	1.77	1.74	1.71	1.70
Equity / assets	24.6%	24.9%	24.7%	24.8%	24.8%	25.2%	25.0%	25.1%	24.9%	25.3%	25.3%	25.7%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.

EXC financial position

At the end of fiscal 2025 (December 31, 2025), Exelon had total assets of $116.6 billion (up 8.2% from a year earlier), total liabilities of $87.8 billion and shareholders' equity of $28.8 billion. It held $1.2 billion in cash and short-term investments against $50.6 billion of debt, net debt of $49.4 billion. Its current ratio was 0.92. In the latest quarter (ended June 30, 2026) total assets were $120.5 billion and equity $29.7 billion.

Related: EXC income statement, EXC cash flow statement, EXC key metrics. See the EXC stock overview for the latest quote and news.

EXC balance sheet FAQ

What are Exelon's total assets?

Exelon reported total assets of $116.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $107.8 billion a year earlier.

How much debt does Exelon have?

Exelon had $50.6 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.76.

How much cash does Exelon have?

Exelon held $1.2 billion in cash and short-term investments at the end of fiscal 2025; with $50.6 billion of debt that is net debt of $49.4 billion.

What is Exelon's book value?

Exelon's shareholders' equity (book value) was $28.8 billion at the end of fiscal 2025, or $28.46 per share.

What is Exelon's current ratio?

Exelon had current assets of $9.5 billion and current liabilities of $10.3 billion, a current ratio of 0.92 (current liabilities exceed current assets).

How much goodwill does Exelon have?

Exelon carried $6.6 billion of goodwill and intangible assets, 5.7% of total assets, at the end of fiscal 2025.