Xcel Energy Inc. (XEL) Stock

Xcel Energy Inc. (XEL) is a Utilities stock trading at $76.31 (as of 2026-08-21), with a market capitalization of $47.64B and a trailing P/E of 21.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Xcel Energy Inc., through its subsidiaries, generates, purchases, transmits, distributes, and sells electricity and natural gas. It operates through Regulated Electric Utility, Regulated Natural Gas Utility, and All Other segments and serves residential, commercial, and industrial customers across multiple states, supplying electricity to about 3.7 million customers and natural gas to about 2.1 million customers.

Understand Xcel Energy Inc.: how it makes money

Xcel Energy generates, purchases, transmits, distributes, and sells electricity, and it also purchases and sells natural gas to retail customers, making money primarily through its regulated electric utility and regulated natural gas utility operations.

Xcel Energy's profit model is built around regulated utility businesses, where it generates and sells electricity, and delivers natural gas through its purchases, transport, distribution, and related regulated network activities, with additional value from developing and leasing natural gas pipelines, storage, and compression facilities.

Business quality (Mixed): Clear business model and official segment names are provided, but there is no usable segment revenue breakdown, and no operational KPI labels were provided.

Valuation: At 23× earnings, XEL trades in line with the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

  • Diverse electricity generation sources: Xcel Energy generates electricity using coal, nuclear, natural gas, hydroelectric, solar, biomass, oil, wood/refuse, and wind energy sources.
  • Natural gas reach across retail and infrastructure: It purchases, transports, distributes, and sells natural gas to retail customers, transports customer-owned natural gas, and develops and leases natural gas pipelines, storage, and compression facilities.

Bear case

  • Regulated utility dependence: Because the company operates through regulated electric utility and regulated natural gas utility segments, its results can be sensitive to how regulated utility services are allowed to operate and be valued.
  • Operational complexity from multiple energy sources and services: Its electricity generation portfolio spans many fuel and generation types, and its natural gas business spans retail sales plus transportation and infrastructure services, which can make outcomes sensitive to operational and market conditions.
Valuation — source: SEC EDGAR (first-party)
Price$76.31
Market Cap$47.64B
P/E Ratio21.3
EV / EBITDA14.9
Price / Book1.98
Price / Sales3.26
FCF Yield-16.1%
DCF Value (model)$29.78
DCF Upside vs Price-61.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$14.67B
Net Margin13.8%
Revenue Growth (YoY)-5.1%
EPS Growth (YoY)23.7%
FCF Growth (YoY)37.3%
Financial Health — source: SEC EDGAR
Altman Z-Score0.91 (distress)
Valuation vs Sector & Industry
Stock P/E21.3
Sector P/E (Utilities)20.8
Industry P/E (Utilities)20.1
vs Sector2.4%
vs Industry6.2%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($5.73B)
Institutional Holders Tracked10
Congressional Trades (recent)7
Company
SectorUtilities
IndustryUtilities
CEORobert C. Frenzel
Employees11,380
CountryUS
IPO Date2001-03-13

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

  • Duke Energy Corporation (DUK)
  • Pacific Gas & Electric Co. (PCG)
  • Exelon Corporation (EXC)
  • Consolidated Edison, Inc. (ED)
  • Public Service Enterprise Group Incorporated (PEG)
  • WEC Energy Group, Inc. (WEC)
  • Ameren Corporation (AEE)
  • CMS Energy Corporation (CMS)
XEL earnings history · XEL institutional & insider holders · XEL KPIs & operating metrics · XEL financials · XEL investor presentations & press releases · XEL SEC filings · XEL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.