CEG vs. EXC: Constellation Energy vs. Exelon Stock Comparison

November 11, 2026

How do Constellation Energy (CEG) and Exelon (EXC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Constellation Energy (CEG) and Exelon (EXC) are both classified in the Electric Utilities sub-industry within the broader Electric Utilities industry, placing them in the closest GICS peer bucket.

Exelon (EXC) has more than two decades of public-market history since May 2, 1973, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.

Company profile comparison for Constellation Energy (CEG) and Exelon (EXC)
Profile Item	CEG	EXC
Name	Constellation Energy Corporation	Exelon Corp.
Country/Region	United States	United States
GICS Sector	Utilities	Utilities
GICS Industry Group	Utilities	Utilities
GICS Industry	Electric Utilities	Electric Utilities
GICS Sub-Industry	Electric Utilities	Electric Utilities
Market Capitalization	88.56 billion USD	47.21 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	January 19, 2022	May 2, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CEG

EXC

GSPC

Constellation Energy (CEG) vs. Exelon (EXC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Constellation Energy (CEG) and Exelon (EXC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Constellation Energy (CEG) and Exelon (EXC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
Total Return (1Y)	-23.27%	2.39%
Total Return (3Y, Annualized)	32.21%	9.20%
Total Return (5Y, Annualized)	--	7.16%

Risk Profile

Drawdown History

CEG

EXC

GSPC

Constellation Energy (CEG) vs. Exelon (EXC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Constellation Energy (CEG) and Exelon (EXC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
Volatility (1Y, Annualized)	49.44%	20.24%
Beta (5Y)	1.11	0.24
Max Drawdown (5Y)	-50.70%	-29.05%
Avg. Volume (3M)	3.37M	7.62M

Risk-Adjusted Performance

Risk-Return Positioning

CEG and EXC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
Sharpe Ratio (1Y)	-0.56	-0.09
Sortino Ratio (1Y)	-0.78	-0.14

Profitability

ROE (TTM)

Constellation Energy (CEG) at 15.06% sits in the top ROE quartile, while Exelon (EXC) at 9.06% is closer to the peer norm — stronger capital efficiency for CEG.

CEG

Utilities industry group

15.06%

Max: 17.99%
CEG: 15.06%
Q3: 12.01%
Median: 9.44%
Q1: 7.56%
Min: 2.17%

EXC

Utilities industry group

9.06%

Max: 17.99%
Q3: 12.01%
Median: 9.44%
EXC: 9.06%
Q1: 7.56%
Min: 2.17%

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their ROE against the Utilities industry group benchmark.

Net Margin (TTM)

Both Constellation Energy (CEG) at 11.08% and Exelon (EXC) at 10.17% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

CEG

Utilities industry group

11.08%

Max: 28.78%
Q3: 17.30%
Median: 12.73%
CEG: 11.08%
Q1: 9.18%
Min: -0.20%

EXC

Utilities industry group

10.17%

Max: 28.78%
Q3: 17.30%
Median: 12.73%
EXC: 10.17%
Q1: 9.18%
Min: -0.20%

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their net margin against the Utilities industry group benchmark.

Operating Margin (TTM)

Exelon (EXC) at 19.18% runs core operations around its industry’s norm, while Constellation Energy (CEG) at 8.66% operates in the bottom quartile.

CEG

Utilities industry group

8.66%

Max: 53.83%
Q3: 31.12%
Median: 23.62%
Q1: 15.45%
CEG: 8.66%
Min: -4.90%

EXC

Utilities industry group

19.18%

Max: 53.83%
Q3: 31.12%
Median: 23.62%
EXC: 19.18%
Q1: 15.45%
Min: -4.90%

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their operating margin against the Utilities industry group benchmark.

Profitability Metrics

Profitability metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
ROE (TTM)	15.06%	9.06%
ROA (TTM)	3.89%	2.72%
Net Margin (TTM)	11.08%	10.17%
Operating Margin (TTM)	8.66%	19.18%
Gross Margin (TTM)	22.11%	41.50%

Growth

Revenue Growth

Both Constellation Energy (CEG) at 8.34% and Exelon (EXC) at 5.34% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Exelon (EXC) at 10.61% is around its peer norm for EPS growth, while Constellation Energy (CEG) at -37.76% drops into the bottom quartile, signaling weaker earnings momentum.

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
Revenue Growth (YoY)	8.34%	5.34%
Revenue Growth (3Y CAGR)	1.47%	8.34%
EPS Growth (YoY)	-37.76%	10.61%
EPS Growth (3Y CAGR)	--	9.19%

Financial Strength

Current Ratio (MRQ)

Exelon (EXC) at 1.03 keeps current ratio within its industry’s typical mid-range, while Constellation Energy (CEG) at 1.46 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

CEG

Utilities industry group

1.46

Max: 1.90
CEG: 1.46
Q3: 1.17
Median: 0.88
Q1: 0.66
Min: 0.29

EXC

Utilities industry group

1.03

Max: 1.90
Q3: 1.17
EXC: 1.03
Median: 0.88
Q1: 0.66
Min: 0.29

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their current ratio against the Utilities industry group benchmark.

Debt / Equity (MRQ)

Constellation Energy (CEG) at 0.76 keeps leverage in the lower industry quartile, while Exelon (EXC) at 1.77 runs a more typical debt-to-equity mix.

CEG

Utilities industry group

0.76

Max: 2.63
Q3: 1.77
Median: 1.35
Q1: 0.84
CEG: 0.76
Min: 0.00

EXC

Utilities industry group

1.77

Max: 2.63
Q3: 1.77
EXC: 1.77
Median: 1.35
Q1: 0.84
Min: 0.00

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their debt-to-equity ratio against the Utilities industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
Current Ratio (MRQ)	1.46	1.03
Debt / Equity (MRQ)	0.76	1.77
Net Debt / EBITDA	3.02	6.21

Dividends

Dividend Yield (TTM)

Both Constellation Energy (CEG) at 0.68% and Exelon (EXC) at 3.57% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CEG

Utilities industry group

0.68%

Max: 6.66%
Q3: 3.58%
Median: 2.85%
CEG: 0.68%
Q1: 0.66%
Min: 0.00%

EXC

Utilities industry group

3.57%

Max: 6.66%
Q3: 3.58%
EXC: 3.57%
Median: 2.85%
Q1: 0.66%
Min: 0.00%

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their dividend yield against the Utilities industry group benchmark.

Dividend Payout Ratio (TTM)

Exelon (EXC) at 64.84% keeps its payout within the industry’s typical band; Constellation Energy (CEG) at 15.92% pays out less than peers usually do, retaining more of its earnings — a policy difference more than a quality gap.

CEG

Utilities industry group

15.92%

Max: 113.04%
Q3: 68.72%
Median: 56.38%
Q1: 32.38%
CEG: 15.92%
Min: 0.00%

EXC

Utilities industry group

64.84%

Max: 113.04%
Q3: 68.72%
EXC: 64.84%
Median: 56.38%
Q1: 32.38%
Min: 0.00%

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their payout ratio against the Utilities industry group benchmark.

Dividend Metrics

Dividend metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
Dividend Yield (TTM)	0.68%	3.57%
Dividend Payout Ratio (TTM)	15.92%	64.84%

Valuation

P/E Ratio (TTM)

Exelon (EXC) at 17.82 is near its industry’s usual P/E ratio, while Constellation Energy (CEG) at 24.43 sits in the richer quartile — CEG needs stronger growth or earnings quality to justify the premium.

CEG

Utilities industry group

24.43

Max: 31.22
CEG: 24.43
Q3: 23.30
Median: 19.64
Q1: 15.17
Min: 3.34

EXC

Utilities industry group

17.82

Max: 31.22
Q3: 23.30
Median: 19.64
EXC: 17.82
Q1: 15.17
Min: 3.34

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their P/E ratio against the Utilities industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Constellation Energy (CEG) at 2.83 and Exelon (EXC) at 1.82 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CEG

Utilities industry group

2.83

Max: 6.35
Q3: 3.63
CEG: 2.83
Median: 2.63
Q1: 1.52
Min: 0.00

EXC

Utilities industry group

1.82

Max: 6.35
Q3: 3.63
Median: 2.63
EXC: 1.82
Q1: 1.52
Min: 0.00

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their P/S ratio against the Utilities industry group benchmark.

P/B Ratio (MRQ)

Exelon (EXC) at 1.57 is valued about in line with its industry on P/B ratio, while Constellation Energy (CEG) at 2.78 carries an above-peer premium to book — CEG is pricier on assets.

CEG

Utilities industry group

2.78

Max: 3.12
CEG: 2.78
Q3: 2.21
Median: 1.83
Q1: 1.46
Min: 0.34

EXC

Utilities industry group

1.57

Max: 3.12
Q3: 2.21
Median: 1.83
EXC: 1.57
Q1: 1.46
Min: 0.34

Constellation Energy (CEG) vs. Exelon (EXC): A comparison of their P/B ratio against the Utilities industry group benchmark.

Valuation Metrics

Valuation metrics for Constellation Energy (CEG) and Exelon (EXC)
Metric	CEG	EXC
P/E Ratio (TTM)	24.43	17.82
P/S Ratio (TTM)	2.83	1.82
P/B Ratio (MRQ)	2.78	1.57
Free Cash Flow Yield (TTM)	-7.48%	-6.97%