In today’s evolving energy landscape, Exelon Corporation (EXC) and NuScale Power Corporation (SMR) stand out as key players in the utilities sector. While Exelon focuses on diverse energy generation and delivery, NuScale is pioneering modular nuclear technology. This comparison is essential due to their overlapping market strategies and innovative approaches to energy solutions. As we delve into their growth potential and risk profiles, I invite you to discover which company might be the more compelling investment opportunity for your portfolio.
Table of contents
Company Overview
Exelon Corporation Overview
Exelon Corporation (Ticker: EXC) is a prominent utility services holding company based in Chicago, Illinois. Established in 1999, it specializes in energy generation, delivery, and marketing throughout the United States and Canada. Exelon operates a diversified portfolio that includes nuclear, fossil, wind, hydroelectric, biomass, and solar facilities. The company serves a broad range of customers, from distribution utilities to residential clients, and engages in both wholesale and retail electricity sales. With a market capitalization of approximately $48B, Exelon plays a crucial role in the regulated electric industry, focusing on reliable energy supply and innovative energy solutions.
NuScale Power Corporation Overview
NuScale Power Corporation (Ticker: SMR), headquartered in Portland, Oregon, is an innovative player in the renewable utilities sector, founded in 2007. The company specializes in the development and sale of modular light water reactor nuclear power plants. Its flagship product, the NuScale Power Module, is designed to generate 77 megawatts of electricity, while larger configurations, such as the VOYGR-12 plant, can produce up to 924 megawatts. With a market cap of around $5.9B, NuScale aims to provide sustainable energy solutions for electrical generation, district heating, and hydrogen production, positioning itself as a leader in the next generation of clean energy technologies.
Key similarities and differences
Both Exelon and NuScale operate within the utilities sector, focusing on energy generation and delivery. However, their business models differ significantly. Exelon emphasizes a diverse energy portfolio, including traditional and renewable sources, while NuScale is concentrated on innovative nuclear technology with modular designs. This distinction highlights Exelon’s broader market reach compared to NuScale’s niche in advanced nuclear solutions.
Income Statement Comparison
In this section, I will provide a concise comparison of the income statements for Exelon Corporation and NuScale Power Corporation based on the most recent fiscal year.
| Metric | Exelon Corporation (EXC) | NuScale Power Corporation (SMR) |
|---|---|---|
| Market Cap | 48B | 5.9B |
| Revenue | 23B | 37M |
| EBITDA | 8.2B | -134M |
| EBIT | 4.6B | -135M |
| Net Income | 2.5B | -137M |
| EPS | 2.45 | -1.47 |
| Fiscal Year | 2024 | 2024 |
Interpretation of Income Statement
Exelon Corporation demonstrated a solid revenue growth trend, increasing from 21.7B in FY 2023 to 23B in FY 2024, resulting in a net income rise from 2.3B to 2.5B. This reflects an improvement in margins, suggesting operational efficiency. Conversely, NuScale Power Corporation struggled with higher expenses leading to negative earnings. Their revenue increased slightly from 22.8M to 37M, but the significant losses indicate challenges in cost management and revenue generation. Overall, while Exelon shows healthy growth and profitability, NuScale presents higher risk due to its ongoing losses.
Financial Ratios Comparison
The following table summarizes key financial ratios for Exelon Corporation (EXC) and NuScale Power Corporation (SMR) for the most recent fiscal year, providing insights into their financial health and operational efficiency.
| Metric | Exelon (EXC) | NuScale (SMR) |
|---|---|---|
| ROE | 9.14% | -22.08% |
| ROIC | 3.93% | -30.66% |
| P/E | 15.35 | -4.14 |
| P/B | 1.40 | 2.70 |
| Current Ratio | 0.87 | 5.25 |
| Quick Ratio | 0.78 | 5.25 |
| D/E | 1.73 | 0.03 |
| Debt-to-Assets | 43.28% | 1.31% |
| Interest Coverage | 2.26 | 0.00 |
| Asset Turnover | 0.21 | 0.07 |
| Fixed Asset Turnover | 0.29 | 15.30 |
| Payout ratio | 61.95% | N/A |
| Dividend yield | 4.04% | 0% |
Interpretation of Financial Ratios
Exelon (EXC) demonstrates stable profitability with a solid ROE of 9.14% and a manageable debt-to-equity ratio of 1.73, indicating reasonable leverage. However, its current and quick ratios below 1 suggest potential liquidity concerns. Conversely, NuScale (SMR) reveals significant challenges, with negative profitability metrics, indicating operational inefficiencies and high leverage risk. Investors should exercise caution when considering SMR due to its elevated debt levels and lack of profitability.
Dividend and Shareholder Returns
Exelon Corporation (EXC) consistently pays dividends with a dividend yield of approximately 4.0% and a payout ratio around 62%. This indicates a sustainable approach, although risks of unsustainable distributions should be monitored. In contrast, NuScale Power Corporation (SMR) does not offer dividends, as it is in a high-growth phase, prioritizing reinvestment over shareholder payouts. Nevertheless, SMR is engaged in share buyback programs, reflecting confidence in long-term shareholder value creation. Overall, EXC’s dividends suggest stability, while SMR’s strategy aligns with future growth potential.
Strategic Positioning
Exelon Corporation (EXC) commands a significant share in the regulated electric utility market, leveraging its diverse energy generation portfolio, including nuclear and renewable sources. As of now, it faces moderate competitive pressure from emerging players like NuScale Power Corporation (SMR), which is innovating in modular nuclear technology. NuScale’s focus on advanced reactor designs positions it well against traditional utilities, signaling potential technological disruptions within the sector. Both companies must navigate evolving regulatory landscapes and increasing demand for clean energy solutions.
Stock Comparison
In analyzing the stock prices of Exelon Corporation (EXC) and NuScale Power Corporation (SMR) over the past year, we observe notable fluctuations and trading dynamics that have significantly influenced investor sentiment and market positioning.
Trend Analysis
Exelon Corporation (EXC) has experienced a robust bullish trend over the past year, with a remarkable price increase of 29.77%. The stock has shown acceleration in its price movement, reaching a notable high of 48.04 and a low of 33.84. Recent data indicates a price change of 8.62% within the last few months, maintaining a bullish outlook and a trend slope of 0.27. The standard deviation of 1.51 suggests relatively low volatility in this recent period.
NuScale Power Corporation (SMR), on the other hand, has reported an extraordinary overall price increase of 663.36% over the last year, indicating a bullish trend, albeit with signs of deceleration in its price momentum. The stock’s highest price reached 51.67, while it recorded a low of 1.99. However, the recent trend shows a significant price decline of 44.96% from September to November 2025, which shifts the outlook to neutral with a trend slope of -2.03 and a standard deviation of 9.39, indicating increased volatility during this period.
In summary, while EXC maintains its bullish trajectory with stable growth, SMR’s recent decline raises caution despite its impressive long-term performance. Investors should weigh these dynamics carefully when considering their portfolio allocations.
Analyst Opinions
Recent analyst recommendations for Exelon Corporation (EXC) show a consensus rating of “B,” with analysts highlighting strong discounted cash flow and return on assets scores as key strengths. Analysts note the company’s solid position in the energy sector, despite a lower debt-to-equity score (1). In contrast, NuScale Power Corporation (SMR) has received a consensus rating of “D+,” with significant concerns about its performance metrics, particularly in return on equity and cash flow. This stark difference suggests a stronger buy sentiment for EXC while cautioning against SMR.
Stock Grades
In this section, I will present the latest stock grades for Exelon Corporation (EXC) and NuScale Power Corporation (SMR), both of which have reliable ratings from established grading companies.
Exelon Corporation Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Morgan Stanley | maintain | Equal Weight | 2025-10-22 |
| Keybanc | maintain | Underweight | 2025-10-15 |
| Jefferies | maintain | Buy | 2025-10-15 |
| Barclays | maintain | Overweight | 2025-10-14 |
| UBS | maintain | Neutral | 2025-10-10 |
| Morgan Stanley | maintain | Equal Weight | 2025-09-25 |
| Keybanc | maintain | Underweight | 2025-07-16 |
| UBS | maintain | Neutral | 2025-07-11 |
| UBS | maintain | Neutral | 2025-06-02 |
| Morgan Stanley | maintain | Equal Weight | 2025-05-22 |
NuScale Power Corporation Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| UBS | maintain | Neutral | 2025-11-25 |
| RBC Capital | maintain | Sector Perform | 2025-11-10 |
| Citigroup | downgrade | Sell | 2025-10-21 |
| B of A Securities | downgrade | Underperform | 2025-09-30 |
| Canaccord Genuity | maintain | Buy | 2025-09-03 |
| Canaccord Genuity | maintain | Buy | 2025-08-11 |
| UBS | maintain | Neutral | 2025-08-11 |
| BTIG | downgrade | Neutral | 2025-06-25 |
| Canaccord Genuity | maintain | Buy | 2025-05-29 |
| UBS | maintain | Neutral | 2025-05-29 |
Overall, Exelon Corporation’s grades reflect a stable stance with a mix of “Equal Weight” and “Buy” recommendations, while NuScale Power Corporation has seen some downgrades but maintains a “Buy” rating from Canaccord Genuity. This indicates a cautious yet optimistic outlook for these companies in the current market.
Target Prices
The consensus target prices for Exelon Corporation (EXC) and NuScale Power Corporation (SMR) indicate positive expectations from analysts.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Exelon Corporation (EXC) | 57 | 42 | 51.67 |
| NuScale Power Corporation (SMR) | 55 | 20 | 36 |
For Exelon, the target consensus of 51.67 suggests a potential upside from the current price of 47.12, while NuScale’s consensus at 36 indicates significant growth potential from its current price of 19.85.
Strengths and Weaknesses
The following table outlines the strengths and weaknesses of Exelon Corporation (EXC) and NuScale Power Corporation (SMR) based on the most recent data.
| Criterion | Exelon Corporation (EXC) | NuScale Power Corporation (SMR) |
|---|---|---|
| Diversification | High (varied energy sources) | Low (niche market focus) |
| Profitability | Moderate (Net Profit Margin: 10.6%) | Negative (Net Profit Margin: -3.7%) |
| Innovation | Moderate (investment in renewable energy) | High (developing modular reactors) |
| Global presence | Moderate (operates mainly in the US and Canada) | Low (limited to specific projects) |
| Market Share | Significant (leading utility provider) | Small (emerging technology) |
| Debt level | High (Debt to Equity: 1.73) | Very low (Debt to Equity: 0) |
Key takeaways indicate that Exelon Corporation boasts significant diversification and market share, whereas NuScale Power Corporation is recognized for its innovative technology but faces profitability challenges and a limited market presence.
Risk Analysis
The following table summarizes key risks associated with Exelon Corporation (EXC) and NuScale Power Corporation (SMR):
| Metric | Exelon Corporation (EXC) | NuScale Power Corporation (SMR) |
|---|---|---|
| Market Risk | Moderate | High |
| Regulatory Risk | High | Very High |
| Operational Risk | Moderate | High |
| Environmental Risk | Moderate | High |
| Geopolitical Risk | Low | Moderate |
In my analysis, the most significant risks for EXC stem from regulatory pressures and environmental concerns, particularly as the energy sector faces stricter standards. For SMR, regulatory and operational risks are compounded by its emerging technology status and financial instability, evidenced by a high debt-to-equity ratio and negative margins.
Which one to choose?
When comparing Exelon Corporation (EXC) and NuScale Power Corporation (SMR), the fundamentals indicate a clear distinction. EXC exhibits strong profitability with a net profit margin of approximately 10.7% and a solid rating of B from analysts, showcasing positive momentum with a bullish stock trend and a price change of 29.77% over the past year. In contrast, SMR struggles with a net loss, negative profitability ratios, and a lower rating of D+. Despite a significant price increase of 663.36% historically, the recent trend shows a steep decline of 44.96%.
For growth-oriented investors, EXC appears favorable for long-term holdings, while those focused on speculative opportunities may find SMR intriguing, albeit with higher risk. I must note that SMR faces challenges related to competition and market dependence, which may affect its future viability.
Disclaimer: This article is not financial advice. Each investor is responsible for their own investment decisions.
Go further
I encourage you to read the complete analyses of Exelon Corporation and NuScale Power Corporation to enhance your investment decisions:
