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XELXcel Energy Inc.
$79.67$49.7B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
XEL logo

Xcel Energy Inc.

XEL
NASDAQ · Electric & Multi-Utilities
$79.67
At close - Nov 6, 4:00 PM EST - USD
Market Cap$49.74B
P/E18.9x
52W High$84.23
Volume6.83M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Capex-Driven Rate Base Growth Outpaces Cash Generation

Xcel Energy's revenue expanded from $3.0B in 2024Q2 to $4.2B in 2026Q3, and the rate base grew roughly 34% in total assets over the same period, suggesting the regulated growth model is intact.

GrowthMixed
ProfitabilityModerate
ValuationReview
TechnicalsNeutral
Explore valuation models
MARKET ACTION

XEL price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

-8% Peers

P/E is 8% below peer median

03

Market leadership

RS 63 · Avg

Average momentum (RS Rating: 63)

04

Trend Check

N/A

Trend data unavailable

Next CatalystEstimated earnings · Jan 28
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue grew from $3.0B to $4.2B across the period, yet net margins swung between 10.0% and 23.0%, a spread that appears to reflect uneven regulatory recovery timing rather than steady authorized returns.

Analyst Consensus+10.4% target
Buy(27 analysts)
17 Buy8 Hold2 Sell

The Bull Case

Upside Catalysts

Strong Revenue Growth & Earnings Stability

Xcel Energy reported a 14.1% year‑over‑year revenue increase, with earnings per share meeting analyst expectations. Analysts project next‑year revenue to rise from $16.13 billion to $17.44 billion, underscoring continued financial momentum.

Ambitious Carbon‑Free Goal & Clean Energy Deal

The company aims for 100% carbon‑free electricity by 2050 and has doubled its data‑center capacity target to 6 GW by 2027. A major clean‑energy agreement with Google further accelerates its renewable portfolio expansion.

Robust Capital Plan for Grid Modernization

Xcel Energy has committed $60 billion over five years to grid hardening, energy storage, and clean‑energy buildout, positioning it to meet future demand and resilience standards.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
XEL+9.07%
S&P 500 (^GSPC)+7.63%
1-Year Return
XEL+1.84%
S&P 500 (^GSPC)+9.69%
3-Year Return
XEL+42.74%
S&P 500 (^GSPC)+67.49%
5-Year Return
XEL+44.10%
S&P 500 (^GSPC)+55.62%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
18.9x
Forward P/E
19.2x
EV/EBITDA80th %ile
13.4x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
18.9x
21.6x
0th· Low
EV/EBITDA
13.4x
12.9x
80th· High
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$109.20+37.1%
Base (Fair)$111.40+39.8%
Bull$120.99+51.9%
$109.20 Bear$111.40 Base$120.99 Bull
Current Market Price: $79.67
Trades at a 28.5% discount to Base DCF ($111.40)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$14.67B+9.1% YoY
Net income FY25
$2.02B+4.2% YoY
Free cash flow FY25
-$6.83B-150.6% YoY
Operating margin FY25
19.6%+1.9 pts YoY
ROIC (FY25)4%
Avg ROIC 5Y4.1%
ROE (TTM)11%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (50%)
Revenue Beat Rate2/12 (17%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 28, 2026
$1.52+9.4%
vs $1.39
$4.2B-2.1%
vs $4.3B
Q3 2026
Jul 30, 2026
$0.93+17.7%
vs $0.79
$3.1B-12.0%
vs $3.5B
Q2 2026
Apr 30, 2026
$0.91+0.3%
vs $0.91
$4.0B-4.5%
vs $4.2B
Q1 2026
Feb 5, 2026
$0.96-0.2%
vs $0.96
$3.6B-1.8%
vs $3.6B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Fool - Investing News·1d ago
These 6 Utility Stocks Offer Income and a Link to Power Demand

NextEra Energy is leaning into electricity demand, but it isn't the only way to play demand growth.

247 Wallst·4d ago
The 12-Month Dividend Calendar: How to Get Paid $3,500 Every Single Month From XEL, CL, and TROW

Most retirees watch dividend income pile up in some months and vanish in others, but three stocks with staggered payment schedules can close that gap in a way most income portfolios never consider.

Business Wire·5d ago
Xcel Energy Announces Pricing of Upsized Offering of $2,200,000,000 of 2.625% Convertible Senior Notes due 2027

MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy Inc. (NASDAQ: XEL) (“Xcel Energy”) announced the pricing of its offering of $2,200,000,000 aggregate principal amount of its 2.625% convertible senior notes due 2027 (the “convertible notes”) in a private placement under the Securities Act of 1933, as amended (the “Securities Act”). The size of the offering was increased from the previously announced $2,000,000,000 aggregate principal amount of convertible notes. Xcel Energy also granted the initial pur.

Business Wire·5d ago
Xcel Energy names Hanna Grene VP, Enterprise Growth and Commercialization

MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy (NASDAQ: XEL) announced today that it has named Hanna Grene its vice president, Enterprise Growth and Commercialization, effective Nov. 16. Grene will lead the company's newly established Enterprise Growth and Commercialization group. Xcel Energy's capital investment plan aims to modernize and expand the energy grid while driving economic growth and sustainability and meeting the evolving energy needs of the communities it serves and large load customer.

Filtered for Xcel Energy Inc.More Headlines
04

Compare before deciding

Benchmark XEL against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Xcel Energy Inc. (XEL)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
XEL logoXELXcel Energy Inc.Current
$79.67$49.74B18.879.14%17.95%11.01%2.73%
ED logoEDConsolidated Edison, Inc.
$118.56$43.69B19.2010.89%12.7%9.02%2.74%
WEC logoWECWEC Energy Group, Inc.
$115.87$37.74B21.0413.96%17.54%12.45%3.02%
ES logoESEversource Energy
$69.84$26.27B18.4713.83%10.38%7.9%4.22%
DTE logoDTEDTE Energy Company
$135.08$28.11B20.4926.95%8.34%11.09%3.12%
CMS logoCMSCMS Energy Corporation
$69.18$21.69B24.8513.63%9.72%8.62%3.19%

Compare XEL vs Peers

Xcel Energy Inc. (XEL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ED

Most directly comparable listed peer for XEL.

Scale Benchmark

vs GE

Larger-name benchmark to compare XEL against a more recognizable public peer.

Peer Set

Compare Top 5

vs ED, WEC, ES, DTE

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

XEL SEC Filings & Documents

Xcel Energy Inc. (XEL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Nov 2, 2026·SEC

Material company update

Oct 30, 2026·SEC

Material company update

Oct 29, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 25, 2026·SEC

FY 2025

Feb 27, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Oct 29, 2026·SEC

FY 2026

Jul 30, 2026·SEC

FY 2026

Apr 30, 2026·SEC

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XEL Frequently Asked Questions

Xcel Energy Inc. (XEL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Xcel Energy Inc.'s revenue?

Xcel Energy Inc. (XEL) reported $14.87B in revenue over the trailing twelve months. Revenue was $14.67B in fiscal year 2025. That is 453% more than the $2.65B of fiscal year 1996.

How fast is Xcel Energy Inc. growing?

Xcel Energy Inc. (XEL) grew revenue by 4.5% over the trailing twelve months, compared with the twelve months before.

Is XEL profitable?

Yes. Xcel Energy Inc. (XEL) earned $2.67B in net income over the trailing twelve months (a 17.9% net margin).

Dividend & Returns
Does XEL pay dividends?

Yes. Xcel Energy Inc. (XEL) pays a dividend that yields 2.73% at the current price, a moderate yield.

What is XEL's return on equity?

Xcel Energy Inc. (XEL) had a return on equity (ROE) of 11.0% over the trailing twelve months. That is in line with the market's typical 10-15%.

What is Xcel Energy Inc.'s free cash flow?

Xcel Energy Inc. (XEL) had negative free cash flow of $7.62B over the trailing twelve months.

Industry Metrics
Is XEL's dividend sustainable?

Xcel Energy Inc. (XEL) has a dividend payout ratio of 64%. This suggests the dividend is well-covered and sustainable.

What if you invested $1,000 in XEL back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →