30 years of historical data (1995–2024) · Utilities · Regulated Electric
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Xcel Energy Inc. trades at 24.2x earnings, 12% above its 5-year average of 21.6x, sitting at the 100th percentile of its historical range. Compared to the Utilities sector median P/E of 21.0x, the stock trades at a premium of 16%.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $49.3B | $38.0B | $34.2B | $38.4B | $36.6B | $35.2B | $33.0B | $25.2B | $24.5B | $20.7B | $18.2B |
| Enterprise Value | $79.3B | $68.0B | $61.6B | $64.3B | $61.1B | $57.3B | $53.2B | $42.3B | $40.2B | $35.5B | $32.1B |
| P/E Ratio → | 24.23 | 19.63 | 19.29 | 22.12 | 22.87 | 23.90 | 24.05 | 19.95 | 21.38 | 18.42 | 18.51 |
| P/S Ratio | 3.67 | 2.83 | 2.41 | 2.50 | 2.72 | 3.05 | 2.86 | 2.18 | 2.15 | 1.87 | 1.66 |
| P/B Ratio | 2.40 | 1.95 | 1.94 | 2.30 | 2.34 | 2.42 | 2.49 | 2.06 | 2.14 | 1.88 | 1.72 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 10.62 | 8.19 | 6.42 | 9.75 | 16.70 | 12.36 | 10.12 | 8.06 | 7.83 | 6.79 | 6.03 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Xcel Energy Inc.'s enterprise value stands at 15.1x EBITDA, 15% above its 5-year average of 13.1x. The Utilities sector median is 9.4x, placing the stock at a 61% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.06 | 4.33 | 4.20 | 4.55 | 4.97 | 4.62 | 3.66 | 3.52 | 3.20 | 2.91 |
| EV / EBITDA | 15.08 | 12.93 | 12.19 | 12.90 | 13.71 | 13.64 | 13.34 | 11.34 | 10.63 | 9.76 | 10.26 |
| EV / EBIT | 33.25 | 25.05 | 23.42 | 25.44 | 26.09 | 25.61 | 24.08 | 20.19 | 17.52 | 15.44 | 15.48 |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Xcel Energy Inc. earns an operating margin of 17.8%, below the Utilities sector average of 21.0%. Operating margins have expanded from 15.9% to 17.8% over the past 3 years, signaling improving operational efficiency. ROE of 10.4% is modest. ROIC of 3.8% represents below-average returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.7% | 45.7% | 42.1% | 38.3% | 39.1% | 43.1% | 41.0% | 38.6% | 39.6% | 38.9% | 36.2% |
| Operating Margin | 17.8% | 17.8% | 17.5% | 15.9% | 16.4% | 18.4% | 18.2% | 17.0% | 19.2% | 19.9% | 18.1% |
| Net Profit Margin | 14.4% | 14.4% | 12.5% | 11.3% | 11.9% | 12.8% | 11.9% | 10.9% | 10.1% | 10.1% | 8.9% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.4% | 10.4% | 10.3% | 10.8% | 10.6% | 10.6% | 10.8% | 10.7% | 10.2% | 10.4% | 9.5% |
| ROA | 2.9% | 2.9% | 2.8% | 2.9% | 2.9% | 2.8% | 2.8% | 2.8% | 2.7% | 2.8% | 2.6% |
| ROIC | 3.8% | 3.8% | 4.2% | 4.4% | 4.3% | 4.5% | 5.0% | 5.2% | 6.2% | 6.6% | 6.3% |
| ROCE | 3.9% | 3.9% | 4.4% | 4.5% | 4.3% | 4.4% | 4.8% | 4.9% | 5.7% | 6.1% | 5.9% |
Solvency and debt-coverage ratios — lower is generally safer
Xcel Energy Inc. carries a Debt/EBITDA ratio of 5.7x, which is highly leveraged (36% above the sector average of 4.2x). Net debt stands at $30.0B ($30.2B total debt minus $179M cash). Interest coverage of just 2.0x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.55 | 1.55 | 1.56 | 1.56 | 1.58 | 1.52 | 1.54 | 1.41 | 1.38 | 1.35 | 1.31 |
| Debt / EBITDA | 5.74 | 5.74 | 5.45 | 5.23 | 5.55 | 5.29 | 5.13 | 4.63 | 4.17 | 4.08 | 4.45 |
| Net Debt / Equity | — | 1.54 | 1.55 | 1.55 | 1.57 | 1.51 | 1.53 | 1.40 | 1.37 | 1.34 | 1.30 |
| Net Debt / EBITDA | 5.71 | 5.71 | 5.42 | 5.20 | 5.51 | 5.26 | 5.06 | 4.59 | 4.15 | 4.06 | 4.42 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 2.02 | 2.02 | 2.47 | 2.62 | 2.70 | 2.63 | 2.87 | 3.01 | 3.63 | 3.61 | 3.54 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.67x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.85x to 0.67x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.67 | 0.67 | 0.72 | 0.85 | 0.84 | 0.77 | 0.68 | 0.69 | 0.73 | 0.88 | 0.72 |
| Quick Ratio | 0.57 | 0.57 | 0.59 | 0.71 | 0.72 | 0.65 | 0.56 | 0.57 | 0.58 | 0.69 | 0.57 |
| Cash Ratio | 0.03 | 0.03 | 0.02 | 0.02 | 0.03 | 0.03 | 0.05 | 0.03 | 0.02 | 0.03 | 0.02 |
| Asset Turnover | — | 0.19 | 0.22 | 0.25 | 0.23 | 0.21 | 0.23 | 0.25 | 0.27 | 0.27 | 0.28 |
| Inventory Turnover | 10.95 | 10.95 | 11.57 | 11.77 | 12.95 | 12.27 | 12.51 | 12.93 | 11.29 | 11.23 | 11.56 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Xcel Energy Inc. returns 2.5% to shareholders annually primarily through dividends. A payout ratio of 60.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 4.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 3.1% | 3.2% | 2.6% | 2.6% | 2.4% | 2.4% | 2.9% | 2.9% | 3.3% | 3.3% |
| Payout Ratio | 60.7% | 60.7% | 61.7% | 58.3% | 58.5% | 58.1% | 57.7% | 57.9% | 62.8% | 60.6% | 61.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.1% | 5.1% | 5.2% | 4.5% | 4.4% | 4.2% | 4.2% | 5.0% | 4.7% | 5.4% | 5.4% |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% |
| Total Shareholder Yield | 2.5% | 3.1% | 3.2% | 2.6% | 2.6% | 2.4% | 2.4% | 2.9% | 3.0% | 3.4% | 3.3% |
| Shares Outstanding | — | $563M | $552M | $547M | $540M | $528M | $520M | $511M | $509M | $509M | $508M |
Compare XEL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| XELYou | $49B | 24.2 | 15.1 | — | 45.7% | 17.8% | 10.4% | 3.8% | 5.7 |
| DUK | $102B | 20.7 | 12.9 | 8.3 | 31.6% | 26.6% | 9.5% | 4.6% | 6.1 |
| ETR | $48B | 27.4 | 14.2 | — | 29.9% | 23.6% | 10.9% | 5.0% | 5.5 |
| PEG | $43B | — | 15.8 | 18.6 | 69.0% | 24.5% | 12.8% | 5.6% | 5.7 |
| WEC | $38B | 24.2 | 10.9 | — | 50.5% | 24.2% | 5.8% | 4.6% | 1.0 |
| AEE | $31B | 21.2 | 13.8 | — | 29.6% | 23.0% | 11.3% | 4.7% | 5.4 |
| FTS | $29B | 23.1 | 13.4 | — | 45.6% | 28.7% | 7.0% | 4.4% | 6.2 |
| ES | $29B | 33.6 | 12.9 | — | 31.1% | 22.7% | 5.5% | 4.8% | 6.5 |
| ED | $26B | 20.0 | 5.1 | 5.9 | 81.0% | 17.3% | 8.8% | 6.0% | 0.1 |
| DTE | $21B | 21.0 | 5.3 | 7.6 | 84.9% | 15.0% | 12.2% | 7.2% | 0.6 |
| LNT | $19B | 26.9 | 17.4 | — | 44.7% | 22.3% | 10.0% | 4.0% | 6.3 |
| Utilities Median | — | 21.0 | 9.4 | 8.1 | 46.6% | 21.0% | 9.4% | 5.0% | 4.2 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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View ValuationSee how XEL stacks up against sector leader Duke Energy Corporation.
Start ComparisonXcel Energy Inc.'s current P/E ratio is 24.2x. The historical average is 17.1x. This places it at the 100th percentile of its historical range.
Xcel Energy Inc.'s current EV/EBITDA is 15.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
Xcel Energy Inc.'s return on equity (ROE) is 10.4%. The historical average is 8.7%.
Based on historical data, Xcel Energy Inc. is trading at a P/E of 24.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Xcel Energy Inc.'s current dividend yield is 2.50% with a payout ratio of 60.7%.
Xcel Energy Inc. has 45.7% gross margin and 17.8% operating margin. Operating margin between 10-20% is typical for established companies.
Xcel Energy Inc.'s Debt/EBITDA ratio is 5.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.