Exelon (WBO:EXEC) Cyclically Adjusted PB Ratio: 1.34 (As of Jul. 16, 2026) — 20% Above Median

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Director of Data and Quant Analytics at GuruFocus
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WBO:EXEC Exelon Corp WBO:EXEC
60 GF Score
Price €40.81
GF Value €38.99
Valuation Fairly Valued
! 8 Warning Signs
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What is Exelon Cyclically Adjusted PB Ratio?

Exelon WBO:EXEC -0.60% 60 Cyclically Adjusted PB Ratio is 1.34 as of Jul. 16, 2026, which is 20% above its 10-year median of 1.12. GuruFocus rates WBO:EXEC with a GF Score™ of 60/100 and a GF Value™ of €38.99 (Fairly Valued). The stock has 8 warning signs investors should review. Among 440 Utilities - Regulated companies, Exelon ranks better than 57.73% on this metric.

As of today (2026-07-16), Exelon's current share price is €40.81. Exelon's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was €30.42. Exelon's Cyclically Adjusted PB Ratio for today is 1.34.

The historical rank and industry rank for Exelon's Cyclically Adjusted PB Ratio or its related term are showing as below:

WBO:EXEC' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.76   Med: 1.12   Max: 1.47
Current: 1.29

During the past years, Exelon's highest Cyclically Adjusted PB Ratio was 1.47. The lowest was 0.76. And the median was 1.12.

WBO:EXEC's Cyclically Adjusted PB Ratio is ranked better than
57.73% of 440 companies
in the Utilities - Regulated industry
Industry Median: 1.525 vs WBO:EXEC: 1.29

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Exelon's adjusted book value per share data for the three months ended in Mar. 2026 was €24.782. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €30.42 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Exelon  (WBO:EXEC) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Exelon Cyclically Adjusted PB Ratio Related Terms


Exelon Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Exelon's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Exelon Cyclically Adjusted PB Ratio Chart

Exelon Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.24 1.25 1.03 1.07 1.24

Exelon Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.31 1.23 1.27 1.24 1.39

WBO:EXEC vs XEL, ETR, PEG: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, Exelon's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Exelon Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Exelon's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Exelon's Cyclically Adjusted PB Ratio falls into.


WBO:EXEC
60GF Score
Exelon Corp WBO:EXEC
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Exelon Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Exelon's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=40.81/30.42
=1.34

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Exelon's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Exelon's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=24.782/330.2130*330.2130
=24.782

Current CPI (Mar. 2026) = 330.2130.

Exelon Quarterly Data

Book Value per Share CPI Adj_Book
201606 24.839 241.018 34.031
201609 25.117 241.428 34.354
201612 26.508 241.432 36.256
201703 26.785 243.801 36.279
201706 25.535 244.955 34.423
201709 24.536 246.819 32.826
201712 26.233 246.524 35.138
201803 25.397 249.554 33.606
201806 27.043 251.989 35.438
201809 27.491 252.439 35.961
201812 27.915 251.233 36.691
201903 28.581 254.202 37.127
201906 28.737 256.143 37.047
201909 29.911 256.759 38.468
201912 29.806 256.974 38.301
202003 30.168 258.115 38.595
202006 29.800 257.797 38.171
202009 28.618 260.280 36.307
202012 27.444 260.474 34.792
202103 27.521 264.877 34.309
202106 27.281 271.696 33.157
202109 29.411 274.310 35.405
202112 31.091 278.802 36.824
202203 21.760 287.504 24.992
202206 22.824 296.311 25.435
202209 24.984 296.808 27.796
202212 23.499 296.797 26.145
202303 23.539 301.836 25.752
202306 23.259 305.109 25.173
202309 23.975 307.789 25.722
202312 23.641 306.746 25.450
202403 23.976 312.332 25.349
202406 24.283 314.175 25.523
202409 23.871 315.301 25.000
202412 25.580 315.605 26.764
202503 25.295 319.799 26.119
202506 23.710 322.561 24.272
202509 23.755 324.800 24.151
202512 24.055 324.054 24.512
202603 24.782 330.213 24.782

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 1.34 mean?
Exelon (WBO:EXEC) has a Cyclically Adjusted PB Ratio of 1.34 as of Jul. 16, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Exelon and its competitors. This is 20% above median its historical median of 1.12. Over the past decade, Exelon's Cyclically Adjusted PB Ratio has ranged from 0.76 to 1.47. According to the industry distribution chart, Exelon ranks #186 out of 440 companies in the Utilities - Regulated industry, placing it in the top 42.3%.
Is Exelon's Cyclically Adjusted PB Ratio too high?
Exelon's current Cyclically Adjusted PB Ratio of 1.34 is 20% above median its 10-year median of 1.12. Over the past 10 years, this metric has ranged from a low of 0.76 to a high of 1.47. The Utilities - Regulated industry median Cyclically Adjusted PB Ratio is 1.53. Exelon's value of 1.34 is 12.1% below this industry median. Based on the distribution chart, Exelon ranks #186 out of 440 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Exelon has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Exelon's Cyclically Adjusted PB Ratio compare to XEL and ETR?
According to the Utilities - Regulated industry distribution chart, Exelon ranks #186 out of 440 companies for Cyclically Adjusted PB Ratio. This puts Exelon in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.53. Exelon's value of 1.34 is 12.1% below this benchmark. Historically, Exelon's own Cyclically Adjusted PB Ratio has ranged from 0.76 to 1.47 over the past decade. While the company's 10-year median is 1.12 vs. the industry median of 1.53, Exelon has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Utilities - Regulated company?
The median Cyclically Adjusted PB Ratio among Utilities - Regulated companies is 1.53, based on 440 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Exelon's current Cyclically Adjusted PB Ratio of 1.34 is 12.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Exelon and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PB Ratio is 1.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Exelon's current Cyclically Adjusted PB Ratio is 1.34, which is 20% above median its own 10-year median of 1.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Exelon stock overvalued right now?
Based on GuruFocus' analysis, Exelon (WBO:EXEC) is currently considered Fairly Valued. The stock's GF Value™ is €38.99, compared to a current price of €40.81 — trading 4.7% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.34, which is 20% above median its 10-year median of 1.12 and 12.1% below the Utilities - Regulated industry median of 1.53. Exelon's overall GF Score™ is 60/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Exelon (WBO:EXEC), the current Cyclically Adjusted PB Ratio is 1.34 as of Jul. 16, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Exelon (WBO:EXEC) Overvalued in 2026?

Based on GuruFocus' analysis, Exelon stock appears to be overvalued. The current stock price of €40.81 is trading 4.7% above its estimated GF Value™ of €38.99. GuruFocus considers Exelon to be Fairly Valued.

Key valuation signals for WBO:EXEC:

  • Cyclically Adjusted PB Ratio: 1.34 (20% above median its 10-year median of 1.12)
  • GF Value™: €38.99 vs. price of €40.81 (4.7% above fair value)
  • GF Score™: 60/100 with 8 warning signs
  • Industry Position: 12.1% below the Utilities - Regulated median (#186 of 440)

No single metric tells the full story. See the WBO:EXEC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Exelon Business Description

Address 10 South Dearborn Street, 54th Floor, P.O. Box 805379, Chicago, IL, USA, 60680-5379
Exelon serves approximately 10 million power and gas customers at its six regulated utilities in Illinois, Pennsylvania, Maryland, New Jersey, Delaware, and Washington, D.C.
60GF Score

Get the complete analysis for WBO:EXEC

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€40.81
Price
€38.99
GF Value