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Regulated electric and gas utility serving Minnesota, Colorado and six other Upper Midwest/Southwest states.
Regulated electric and gas utility serving Minnesota, Colorado and six other Upper Midwest/Southwest states.
Earns allowed returns set by state regulators across its eight states, and building wind and solar farms for customers adds to the asset base, while fuel costs pass through to bills. In 2018 it became the first big US utility to set a goal of carbon-free power by 2050.
Moat: narrow (regulatory licence, scale). Regulated state monopoly territories with an early, large wind-generation build-out.
Headquarters: Minneapolis, Minnesota, US · Founded: 1909 · Employees: 11,534
Size Xcel Energy (XEL) is a United States Utilities company (Electric Utilities) with a market value of $51.1B, the 248th largest of 3,117 United States companies the cockpit tracks. Shares closed at $79.67 on 6 Nov 2026.
Performance Over six months the shares gained 1.1%, against +3.7% for the median peer and -1.1% for the United States market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 4.3% over the last twelve months (peer median +6.5%); the operating margin is 21.9% (peer median 23.6%).
Valuation It trades at 18.1× forward earnings against a peer median of 18.5× (9th cheapest of 21).
Capital Return on invested capital runs 2.1 points below its cost of capital (6.1% WACC).
Credit Xcel Energy has 33 bonds outstanding ($16.4B), rated A by the agencies and trading like A- at a weighted spread of 85 bp.
Short interest Short interest is 8.2% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $14.9B | $14.7B | $13.5B | $14.2B | $15.3B |
| Revenue growth | — | +9% | -5% | -7% | — |
| Gross profit | $3.97B | $3.59B | $3.06B | $3.28B | $3.12B |
| EBITDA | $6.38B | $5.99B | $5.31B | $5.19B | $4.98B |
| Net income | $2.67B | $2.02B | $1.94B | $1.77B | $1.74B |
| Free cash flow | -$7.62B | -$6.83B | -$2.72B | -$527M | -$706M |
| Capital expenditure | $12.7B | $10.9B | $7.36B | $5.85B | $4.64B |
| Total debt | $42.7B | $36.1B | $30.3B | $27.6B | $26.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Xcel Energy XEL | $51.1B | +1% | +4% | 22% | 18.1× | n/a |
| CMS Energy CMS | $21.7B | -5% | +8% | 20% | 17.1× | n/a |
| Alliant Energy LNT | $18.8B | +1% | +5% | 23% | 20.8× | n/a |
| WEC Energy WEC | $38.1B | +5% | +8% | 25% | 21.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | XEL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.6% | +8.1% | 10th highest of 21 |
| 6-month return | +1.1% | +3.7% | 9th lowest of 21 |
| Distance from 52-week high | -4.3% | -6.8% | 7th highest of 21 |
| Revenue growth (TTM) | +4.3% | +6.5% | 10th lowest of 21 |
| Operating margin | 21.9% | 23.6% | 10th lowest of 21 |
| Forward P/E | 18.1× | 18.5× | 9th cheapest of 21 |
| ROIC minus cost of capital | -2.1 pp | -1.1 pp | 6th lowest of 21 |
| EV / EBITDA | 14.3× | 13.6× | 8th most expensive of 19 |
| Net debt / EBITDA | 6.3× | 4.9× | 3rd most indebted of 19 |
| Bond spread | 85 bp | 82 bp | 7th widest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xcel Energy XEL | United States | $51.1B | +1% | +4% | 22% | 18.1× | n/a | n/a |
| Endesa ELE.MC | Spain | $51.0B | +21% | +6% | 17% | 18.4× | 0.5% | +4.7% |
| Rwe RWE.DE | Germany | $50.4B | +2% | -34% | 0% | 18.6× | n/a | n/a |
| Entergy ETR | United States | $52.8B | -1% | +11% | 24% | 22.8× | n/a | n/a |
| Exelon EXC | United States | $47.2B | +5% | +7% | 20% | 15.2× | n/a | n/a |
| E.on EOAN.DE | Germany | $55.9B | +4% | -8% | 7% | 17.5× | n/a | n/a |
| Consolidated Edison ED | United States | $43.7B | +12% | +10% | 18% | 18.5× | n/a | n/a |
| Dominion Energy D | United States | $60.3B | +12% | +23% | 29% | 18.7× | n/a | n/a |
| Sse SSE.L | United Kingdom | $43.2B | +7% | +1% | 19% | 14.2× | n/a | n/a |
| Vistra VST | United States | $41.9B | -15% | +9% | 19% | 12.8× | 12.5% | +10.1% |
| Adani Power ADANIPOWER.NS | India | $41.6B | -11% | +8% | 23% | 29.4× | n/a | n/a |
| WEC Energy WEC | United States | $38.1B | +5% | +8% | 25% | 21.6× | n/a | n/a |
| American Electric Power AEP | United States | $68.9B | -3% | +10% | 24% | 18.5× | n/a | n/a |
| Engie ENGI.PA | France | $69.0B | -11% | -5% | 13% | 11.7× | 5.8% | +10.2% |
| Public Service Enterprise PEG | United States | $36.2B | -5% | +13% | 27% | 16.0× | n/a | n/a |
| NTPC NTPC.NS | India | $33.2B | -19% | +7% | 20% | 12.3× | n/a | n/a |
| CGN Power 003816.SZ | China | $33.1B | +4% | -20% | 30% | 22.4× | n/a | n/a |
| Ameren AEE | United States | $31.2B | +4% | +4% | 25% | 20.0× | n/a | n/a |
| National Grid NG..L | United Kingdom | $84.5B | -2% | -4% | 29% | 13.8× | n/a | n/a |
| Fortis FTS.TO | Canada | $31.0B | +11% | +4% | 28% | 22.5× | n/a | n/a |
| Huaneng Lancang River Hydropower 600025.SS | China | $30.7B | +15% | +4% | 48% | 23.1× | 3.8% | +6.6% |
Xcel Energy has 33 bonds outstanding with $16.4B face value. The agencies rate it A; its bonds trade like A-. Weighted yield 5.91%, a spread of 85 bp over government bonds.