In the ever-evolving landscape of the energy sector, Exelon Corporation (EXC) and Oklo Inc. (OKLO) stand out as key players, albeit in different stages of their corporate journeys. Exelon, a seasoned utility giant, operates across diverse energy generation platforms, while Oklo is an innovative newcomer focused on advanced nuclear technologies. This comparison is crucial as both companies address the growing demand for sustainable energy solutions. Join me as we explore which of these two companies presents a more compelling investment opportunity.
Table of contents
Company Overview
Exelon Corporation Overview
Exelon Corporation (ticker: EXC) is a leading utility services holding company based in Chicago, Illinois. Founded in 1999, Exelon operates across the energy generation, delivery, and marketing sectors throughout the United States and Canada. The company boasts a diverse portfolio of generating facilities, including nuclear, fossil, wind, hydroelectric, biomass, and solar energy. Exelon serves a wide range of customers, from distribution utilities to residential clients, and is actively engaged in the wholesale and retail sale of electricity and natural gas. With a market capitalization of approximately $47.6B, Exelon emphasizes sustainability and reliability in its operations, aiming to adapt to the evolving energy landscape.
Oklo Inc. Overview
Oklo Inc. (ticker: OKLO) is an innovative player in the regulated electric industry, focused on the design and development of compact fission power plants. Founded in 2013 and headquartered in Santa Clara, California, Oklo aims to provide reliable, commercial-scale energy solutions while also offering used nuclear fuel recycling services. With a market capitalization of around $14.3B, Oklo positions itself as a forward-thinking company in the energy sector, leveraging advanced technologies to meet the growing demand for sustainable and efficient energy sources.
Key similarities and differences
Both Exelon and Oklo operate within the regulated electric industry, focusing on energy generation and delivery. However, Exelon has a well-established history and a diverse range of energy sources, while Oklo specializes in innovative fission technology and nuclear fuel recycling. This distinction highlights Exelon’s broad operational scale compared to Oklo’s niche focus on advanced nuclear solutions.
Income Statement Comparison
The following table presents a comparison of the most recent income statements for Exelon Corporation and Oklo Inc., highlighting key financial metrics.
| Metric | Exelon Corporation | Oklo Inc. |
|---|---|---|
| Market Cap | 48B | 14B |
| Revenue | 23B | 0 |
| EBITDA | 8.2B | -52.5M |
| EBIT | 4.6B | -52.8M |
| Net Income | 2.5B | -73.6M |
| EPS | 2.45 | -0.74 |
| Fiscal Year | 2024 | 2024 |
Interpretation of Income Statement
In the most recent fiscal year, Exelon Corporation reported a revenue increase to 23B, resulting in a net income of 2.5B, highlighting solid operational performance with stable margins. In contrast, Oklo Inc. did not generate revenue and reported a net loss of 73.6M, indicating ongoing challenges in scaling its operations. The stark difference in performance underscores Exelon’s established position in the utilities sector compared to Oklo’s early-stage struggles, emphasizing the importance of revenue generation for sustainability and growth.
Financial Ratios Comparison
The table below presents a comparative analysis of key financial ratios for Exelon Corporation (EXC) and Oklo Inc. (OKLO) based on the latest available data.
| Metric | Exelon Corporation (EXC) | Oklo Inc. (OKLO) |
|---|---|---|
| ROE | 9.14% | -29.35% |
| ROIC | 3.93% | -19.23% |
| P/E | 15.35 | N/A |
| P/B | 1.40 | -8.37 |
| Current Ratio | 0.87 | 43.47 |
| Quick Ratio | 0.78 | 43.47 |
| D/E | 1.73 | 0.01 |
| Debt-to-Assets | 43.28% | 1.68% |
| Interest Coverage | 2.26 | N/A |
| Asset Turnover | 0.21 | 0.00 |
| Fixed Asset Turnover | 0.29 | 0.00 |
| Payout ratio | 61.95% | 0% |
| Dividend yield | 4.04% | 0% |
Interpretation of Financial Ratios
Exelon Corporation demonstrates relatively strong financial health, with a reasonable P/E ratio and a solid dividend yield, coupled with a manageable debt-to-equity ratio of 1.73. However, the current and quick ratios below 1 indicate potential liquidity concerns. In contrast, Oklo Inc. shows negative returns and extreme current ratios, suggesting it may struggle to convert assets into cash effectively. The lack of profitability metrics raises significant concerns about its financial stability. As an investor, caution is advised, particularly with Oklo Inc.
Dividend and Shareholder Returns
Exelon Corporation (EXC) pays a dividend with a payout ratio of approximately 62%, yielding around 4.04%. The dividend per share has shown a consistent increase, indicating a stable distribution policy. However, potential risks include high debt levels and reliance on free cash flow, which has been negative recently.
In contrast, Oklo Inc. (OKLO) does not distribute dividends, focusing instead on reinvestment for growth in its early stages. While it engages in share buybacks, this strategy may align with long-term value creation, albeit carries risks due to negative income. Overall, EXC’s dividends support long-term value, whereas OKLO’s approach requires careful monitoring for sustainable growth.
Strategic Positioning
Exelon Corporation (EXC) holds a substantial market share in the regulated electric sector, leveraging its diverse generation portfolio, which includes nuclear, wind, and solar facilities. With a market cap of 48B, it faces competitive pressure from emerging players like Oklo Inc. (OKLO), which is innovating in fission power plants and fuel recycling. Oklo’s market cap of 14B signifies its potential for disruption, as it appeals to investors seeking sustainable energy solutions. As the market evolves, both companies must navigate technological advancements and regulatory challenges.
Stock Comparison
Over the past year, the stock prices of Exelon Corporation (EXC) and Oklo Inc. (OKLO) have exhibited significant movements, highlighting their respective trading dynamics and investor sentiment.
Trend Analysis
Analyzing the trend for Exelon Corporation (EXC) over the past year reveals a remarkable price change of +29.77%. This indicates a bullish trend, characterized by acceleration in price movements. The stock reached notable highs of $48.04 and lows of $33.84, with a standard deviation of 3.94, suggesting moderate volatility in its price.
In the recent period from September 14, 2025, to November 30, 2025, EXC experienced a price change of +8.62% with a lower standard deviation of 1.51, indicating reduced volatility and a consistent upward trajectory.
For Oklo Inc. (OKLO), the overall price change over the past year has been +516.18%, showcasing an exceptionally bullish trend, although the acceleration status indicates deceleration. The stock reached a peak of $163.39 and a low of $5.59, with a high standard deviation of 38.39, reflecting considerable volatility.
In the recent analysis period from September 14, 2025, to November 30, 2025, OKLO’s price increased by +10.48%. However, the trend slope of -1.97 indicates a slight decline in momentum, paired with a substantial standard deviation of 24.46, suggesting ongoing volatility in its trading behavior.
Both stocks exhibit unique characteristics and trends that investors should consider when making portfolio decisions.
Analyst Opinions
Analysts have recently rated Exelon Corporation (EXC) with a “B” grade, indicating a buy recommendation, primarily due to its strong discounted cash flow and asset returns. Analysts suggest that EXC’s solid financial standing and manageable debt levels position it well for future growth. Conversely, Oklo Inc. (OKLO) received a “C” rating, signaling a hold recommendation. Concerns about its low return on equity and high debt-to-equity ratio raise red flags for potential investors. Overall, consensus for EXC is a buy, while OKLO remains a wait-and-see situation.
Stock Grades
In this section, I present the latest stock ratings for Exelon Corporation (EXC) and Oklo Inc. (OKLO) based on reliable grading data.
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 |
Oklo Inc. Grades
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Wedbush | maintain | Outperform | 2025-11-12 |
| B of A Securities | maintain | Neutral | 2025-11-12 |
| B. Riley Securities | maintain | Buy | 2025-11-12 |
| B of A Securities | downgrade | Neutral | 2025-09-30 |
| Seaport Global | downgrade | Neutral | 2025-09-23 |
| Wedbush | maintain | Outperform | 2025-09-22 |
| Wedbush | maintain | Outperform | 2025-08-14 |
| Wedbush | maintain | Outperform | 2025-08-12 |
| HC Wainwright & Co. | maintain | Buy | 2025-08-12 |
| Citigroup | maintain | Neutral | 2025-07-22 |
Overall, the grading trends for both companies show a consensus on maintaining existing ratings, indicating stability in investor sentiment. Notably, while EXC has grades ranging from “Underweight” to “Buy,” OKLO displays a mix of “Outperform” and some downgrades to “Neutral,” reflecting shifting perceptions in the market.
Target Prices
The current target consensus for Exelon Corporation (EXC) and Oklo Inc. (OKLO) indicates positive outlooks from analysts.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Exelon Corporation | 57 | 42 | 51.67 |
| Oklo Inc. | 175 | 75 | 129.5 |
For Exelon Corporation, the target consensus of 51.67 suggests potential upside from the current stock price of 47.12. Similarly, Oklo Inc.’s consensus of 129.5 indicates significant growth potential compared to its current price of 91.83.
Strengths and Weaknesses
The following table outlines the strengths and weaknesses of Exelon Corporation (EXC) and Oklo Inc. (OKLO) based on the most recent data.
| Criterion | Exelon Corporation (EXC) | Oklo Inc. (OKLO) |
|---|---|---|
| Diversification | Strong in various energy sectors (nuclear, solar, etc.) | Focused on fission power plants |
| Profitability | Moderate net profit margin (10.7%) | Currently unprofitable |
| Innovation | Continuous investment in renewable energy | Developing new nuclear technologies |
| Global presence | Operates in the U.S. and Canada | Primarily U.S.-based |
| Market Share | Significant in U.S. utilities | Emerging player in nuclear sector |
| Debt level | High debt-to-equity ratio (1.73) | Very low debt levels (0.005) |
Key takeaways: Exelon demonstrates strong diversification and market presence but carries significant debt. In contrast, Oklo shows potential for innovation with a focus on nuclear energy but currently lacks profitability and a broader market presence.
Risk Analysis
The following table outlines potential risks associated with two companies, Exelon Corporation (EXC) and Oklo Inc. (OKLO).
| Metric | Exelon Corporation (EXC) | Oklo Inc. (OKLO) |
|---|---|---|
| Market Risk | Moderate | High |
| Regulatory Risk | High | Moderate |
| Operational Risk | Moderate | High |
| Environmental Risk | Moderate | High |
| Geopolitical Risk | Low | Moderate |
In summary, Oklo Inc. faces significant risks, particularly in operational and environmental aspects, due to its reliance on innovative technologies in the nuclear sector. Exelon, while exposed to regulatory and operational challenges, maintains a more stable market position.
Which one to choose?
When comparing Exelon Corporation (EXC) and Oklo Inc. (OKLO), Exelon appears more favorable for long-term investors. EXC has demonstrated strong fundamentals, including a net profit margin of 10.68% and a solid return on equity of approximately 9.14%. The stock has shown a bullish trend with a 29.77% increase over the last year and carries a rating of B from analysts, indicating a positive outlook. Conversely, OKLO, rated C, is still in its development phase with no revenue and a negative net income, which raises concerns about its sustainability and competitive position.
Investors focused on stability and dividends may prefer EXC, while those willing to take risks for potential high growth may consider OKLO. However, investors should remain cautious due to the inherent competition and market dependence in the energy sector.
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 Oklo Inc. to enhance your investment decisions:
