Exelon Corporation (EXC)
Exelon delivers electricity and natural gas through regulated utilities across several states.
Utilities stock comparison
EXC vs PCG: which business are you actually underwriting?
Compare Exelon Corporation with PG&E Corporation using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Utilities
- Industry
- Same SIC
- Shared themes
- 1
- Updated
- 2026-02-12
EXC vs PCG: quick comparison
| Company fact | EXC | PCG |
|---|---|---|
| Company | Exelon Corporation | PG&E Corporation |
| Exchange | NASDAQ | NYSE |
| SEC industry | Electric & Other Services Combined | Electric & Other Services Combined |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-12 | 10-K · 2026-02-12 |
EXC vs PCG: audited financials
PCG reported revenue roughly in line with EXC in the latest audited fiscal year. Scale and margin are starting facts for the thesis, not the verdict.
| Metric | EXC | PCG |
|---|---|---|
| Revenue | $24.3B | $24.9B |
| Net income | — | $2,593 |
| Operating cash flow | $6.3B | $8.7B |
| Diluted EPS | — | $1.18 |
| Net margin | — | 0.0% |
EXC: FY ending 2025-12-31 · PCG: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
EXC and PCG share the SEC industry classification “Electric & Other Services Combined,” giving the comparison a primary-source operating relationship. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
PG&E Corporation (PCG)
PG&E provides electricity and natural gas to customers across northern and central California.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. EXC is classified by the SEC as Electric & Other Services Combined, while PCG is classified as Electric & Other Services Combined. The matching industry code strengthens the peer comparison, although product mix can still differ materially.
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The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study EXC when…
- Interest rates and dividend-yield competition
- Data-center and AI electricity demand
- Rate-case outcomes and regulation
- The grid buildout and energy transition
Study PCG when…
- Interest rates and dividend-yield competition
- Data-center and AI electricity demand
- Rate-case outcomes and regulation
- The grid buildout and energy transition
Shared research themes
Rates & central banks
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.EXC's fiscal year ends December 31, while PCG's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 6matched transaction rows for EXCand 4 for PCG. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
EXC primary filings
PCG primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving EXC or PCG
EXC vs PCG FAQs
Are EXC and PCG direct competitors?
Exelon Corporation and PG&E Corporation share the SEC industry classification “Electric & Other Services Combined.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Which is better, EXC or PCG?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this EXC vs PCG comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Exelon Corporation and PG&E Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
EXC vs PCG shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
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