Filing Flows › Exelon (EXC) › Q4 2025 › vs Q4 2024
Exelon (EXC) Q4 2025 vs Q4 2024 (year over year)
Exelon's revenue fell $59.0M (-1%) from $5.5B in Q4 2024 to $5.4B in Q4 2025. Operating margin 21.9% against 20.1% (+1.8 pts).
Exelon, Q4 2025: revenue $5.4B (-1% year over year), operating margin 21.9%, net earnings $594M, operating cash flow $1.2B. The chart draws each line against Q4 2024, the increases inside each band.
Margins
| Q4 2025 | Q4 2024 | Change | |
|---|---|---|---|
| Operating margin | 21.9% | 20.1% | +1.8 pts |
| Net margin | 11.0% | 11.8% | -0.9 pts |
Every line
| Line | Q4 2025 | Q4 2024 | Change | % |
|---|---|---|---|---|
| Revenue | $5.4B | $5.5B | −$59.0M | -1% |
| Operating profit | $1.2B | $1.1B | $87.0M | +8% |
| Costs & expenses | $4.2B | $4.4B | −$146M | -3% |
| Pre-tax earnings | $721M | $696M | $25.0M | +4% |
| Other expense, net | $464M | $402M | $62.0M | +15% |
| Net earnings | $594M | $647M | −$53.0M | -8% |
| Income tax | $127M | $49.0M | $78.0M | +159% |
| Depreciation & amortization | $924M | $913M | $11.0M | +1% |
| Working capital & other | $274M | $134M | $140M | +104% |
| Operating cash flow | $1.2B | $1.4B | −$182M | -13% |
| Capital expenditures | $2.4B | $1.9B | $498M | +26% |
| Negative free cash flow (OCF − capex) | $1.2B | $510M | $680M | +133% |
Questions
How much did Exelon's revenue grow year over year in Q4 2025?
Exelon's revenue fell $59.0M (-1%) from $5.5B in Q4 2024 to $5.4B in Q4 2025. Operating margin 21.9% against 20.1% (+1.8 pts).