Xcel Energy Inc (XEL)
Utilities · Multi-Utilities · US stock · S&P 500 component
$78.90
▲ +2.12 (2.76%)
Fair valueFair
$81 +2.6% to fair value
$40fair band $69–$98$121
Day's range
$77.08 – $79.17
52-week range
$68.72 – $84.23
About Xcel Energy Inc
Xcel Energy is a regulated utility holding company that generates and delivers electricity and natural gas. Its operating utilities serve households, businesses and public bodies across several Midwestern, Mountain and Southwestern states. It generates power from a mix of wind, solar, coal, natural gas and nuclear plants, plus transmission lines and gas pipelines. The company is organised around its separate state-regulated utility subsidiaries.
Xcel earns its revenue mainly from regulated customer rates that recover operating costs and provide an allowed return on its network investment. Revenue is not shown on the site for this company. The business earns 4% on the capital invested in it, and it carries net debt of 6.7 times EBITDA. The dividend yield is 3.0%. On the site's X-Ray Score it receives 27 out of 100.
Price chart
52-wk range $68.72 – $84.23Volume 8,215,672Daily, split-adjusted
Vitals
Market cap$49.5B
52-week range$68.72 – $84.23
Volume (last day)8,215,672
P/E (TTM)21.5
EBIT / EV yield3.2%
Free-cash-flow yield-15.5%
Dividend yield3.0%
Revenue (TTM)–
Net income (TTM)$2.2B
Operating margin–
Return on capital4.0%
Debt incl. leases$40.3B
Cash & securities$2.0B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$81middle half of models $75 – $79
Fair
+2.6% to fair value
Average of the 5 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $79
Undervalued < $69Fair $69 – $98Overvalued > $98
P/E multiple
$78
P/B multiple
$79
EV/EBITDA multiple
$75
EV/EBIT multiple
$65
Dividend discount, stable
$108
Dividend discount, multi-stage · not used
$179
Growth the price implies
20.6%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Utilities peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
27/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.2%
Free-cash-flow yield-15.5%
Fair value vs price1.0×
Growth
Weak
13/100
Growing slower than most of its sector.
See the numbers →
EPS growth (3y)2.6%
Profitability
Weak
21/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital4.0%
Financial health
Weak
30/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA6.7×
Interest cover1.7×
Dividends
Fair
59/100
Dividend is typical for its sector.
See the numbers →
Dividend yield3.0%
Dividend growth8.2%
Quarterly results: last 6 quarters
–
Mar '25
–
Jun '25
–
Sep '25
–
Dec '25
–
Mar '26
–
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue –, diluted EPS $0.93.
Compare with peers
ED Consolidated Edison In...70 NI Nisource Inc.54 AEE Ameren Corp54 DTB Dte Energy Co54Other Multi-Utilities companies by X-Ray Score.
SWOT analysis: Xcel Energy Inc
Strengthsinside the company
- No standout strength in the figures we track.
Weaknessesinside the company
- Return on invested capital is only 4.0% (median 4.9% for industry peers), so the business earns little above its cost of capital.
- Free cash flow is negative, so spending or debt has to be financed from outside.
- Net debt is 6.7x EBITDA, above the 3x level that lenders usually watch.
- Operating profit covers interest only 1.7x.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Heavy debt makes profits sensitive to interest rates and refinancing conditions.
- Our Market Compass rates the backdrop for Utilities as unfavourable.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare XEL with peers and sector
Medians of 11 Multi-Utilities peers and of 30 Utilities stocks in our universe.
Largest peers (X-Ray Score): NEE 45, D 53, SRE 33, ED 70, AEE 54, PCG 39.
| Metric | XEL | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 27 | 46 | 51 |
| Valuation | 27 | 51 | 50 |
| Growth | 13 | 53 | 53 |
| Profitability | 21 | 41 | 50 |
| Financial health | 30 | 47 | 52 |
| Dividends | 59 | 48 | 53 |
Sector leaders: highest X-Ray Score in Utilities
XEL ranks #31 of 31 in Utilities and #12 of 12 in Multi-Utilities by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for XEL
Each factor is rated by where XEL stands among the 31 Utilities stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 0 Good · 5 Average · 8 Bad of 13
Growth: 0 · 0 · 1
Profitability: 0 · 0 · 2
Financial strength: 0 · 1 · 3
Valuation: 0 · 2 · 2
Cash flow: 0 · 2 · 0
| Factor | XEL | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| EPS growth, 3 years a year | +2.6% | Bad beats 13% | +8.1% | – | – |
| Profitability | |||||
| Return on invested capital | 4.0% | Bad beats 8% | 5.5% | – | – |
| Return on equity | 9.3% | Bad beats 31% | 10.1% | 10.1% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 6.7x | Bad beats 28% | 5.8x | 5.3x | ▼ Worse |
| Interest cover | 1.7x | Bad beats 8% | 2.5x | 2.4x | ≈ In line |
| Current ratio | 0.70 | Average beats 40% | 0.78 | 0.72 | ≈ In line |
| Piotroski F-score | 5 / 9 | Bad beats 32% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 22.2x | Average beats 44% | 21.8x | 21.6x | ≈ In line |
| Price / book | 2.1x | Average beats 56% | 2.1x | 1.9x | ≈ In line |
| EV / EBITDA | 15.3x | Bad beats 31% | 14.0x | 13.0x | ▼ Worse |
| Free cash flow yield | -15.5% | Bad beats 6% | -4.9% | -5.6% | ▼ Worse |
| Cash flow | |||||
| Cash from operations / net income | 2.14 | Average beats 44% | 2.20 | 2.26 | ≈ In line |
| Accruals (lower is better) | −2.9% | Average beats 40% | −3.3% | – | – |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 0 Good · ● 4 Average · ● 7 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldBad
Risk models
Altman Z''Average
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Each check is graded against the company's sector, not a fixed number. Checklist score 20/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | – | – | – | – | – |
| Operating income | $2.2B | $2.4B | $2.5B | $2.4B | $2.6B |
| Net income | $1.6B | $1.7B | $1.8B | $1.9B | $2.0B |
| Operating cash flow | $2.2B | $3.9B | $5.3B | $4.6B | $4.1B |
| Operating margin | – | – | – | – | – |
| Free cash flow | −$2.1B | −$706M | −$527M | −$2.7B | −$6.8B |
| Diluted EPS | $2.96 | $3.17 | $3.21 | $3.44 | $3.42 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 75.69 | Bullish |
| EMA 10 | 75.83 | Bullish |
| SMA 20 | 73.46 | Bullish |
| EMA 20 | 74.68 | Bullish |
| SMA 50 | 74.50 | Bullish |
| EMA 50 | 74.74 | Bullish |
| SMA 100 | 76.48 | Bullish |
| EMA 100 | 75.70 | Bullish |
| SMA 200 | 77.14 | Bullish |
| EMA 200 | 75.79 | Bullish |
Oscillators (daily)
| RSI (14) | 71.43 | Bearish |
| MACD (12, 26) | 1.02 | Bullish |
| Momentum (12) | 8.48 | Bullish |
| Stochastic %K (14) | 96.85 | Bearish |
| Williams %R (14) | -3.15 | Bearish |
| CCI (20) | 152.2 | Bearish |
Pivot points (classic, last session)
S3 75.51 | S2 76.29 | S1 77.60 | Pivot 78.38 | R1 79.69 | R2 80.47 | R3 81.78 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.35 USD
Yield on today's price
2.98%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.5930 | |
| 0.5930 | |
| 0.5930 | |
| 0.5700 | |
| 0.5700 | |
| 0.5700 | |
| 0.5700 | |
| 0.5480 | |
| 0.5480 | |
| 0.5480 | |
| 0.5480 | |
| 0.5200 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold XEL
| ETF | Share of the fund |
|---|---|
| XLU Utilities Select Sector SPDR | 3.53% |
| FUTY Fidelity MSCI Utilities Index | 3.18% |
| VPU Vanguard Utilities | 3.09% |
| IDU iShares U.S. Utilities | 3.01% |
| GQGU The Advisors’ Inner Circle Fund III | 2.66% |
| EMLP First Trust North American Energy Infr... | 1.48% |
| AIPO Defiance AI & Power Infrastructure | 1.46% |
| IFRA iShares U.S. Infrastructure | 1.36% |
The eight funds with the largest weight in XEL among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
XEL stock splits
XEL has split its stock once since 1998. The latest was a 2-for-1 split on 2 Jun 1998.
Full XEL stock split history →XEL SEC filings
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.