Filing Flows › Exelon (EXC) › Q4 2025
Exelon (EXC) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
Exelon (EXC) reported revenue of $5.4B for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and -19% from the quarter before. Operating margin was 21.9%, net earnings $594M (11.0% of revenue).
Exelon, Q4 2025: revenue $5.4B (-1% year over year), operating margin 21.9%, net earnings $594M, operating cash flow $1.2B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.4B | -19% | -1% |
| Operating profit | $1.2B | -21% | +8% |
| Net earnings | $594M | -32% | -8% |
| Operating cash flow | $1.2B | -46% | -13% |
What changed
Revenue was $5.4B in Q4 2025, down 1% year over year and down 19% from the previous quarter.
Operating profit was $1.2B, a 21.9% margin (up 1.8 points year over year). Total costs fell 3% while revenue fell 1%. Net earnings were $0.59B, down 8% year over year. The effective tax rate was 17.6%.
Operating cash flow was $1.2B (down 13% year over year), 209% of net earnings. Non-cash charges added back $0.92B of depreciation and amortization. Working capital and other items used $0.27B. Capital expenditures of $2.4B exceeded it, leaving free cash flow of −$1.2B.
Questions
What was Exelon's revenue in the fourth quarter 2025?
Exelon (EXC) reported revenue of $5.4B for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and -19% from the quarter before.
Was Exelon profitable in the fourth quarter 2025?
Operating profit was $1.2B (21.9% of revenue) and net earnings $594M.
Source: Exelon 10-K on SEC EDGAR.