Utilities · Multi-Utilities · US stock · price as of 16 Oct 2026
Key indicators
Price
$76.31
52-week range
$68.72 – $82.56
Market cap
$47.8B
P/E (trailing)
20.8×
EV / EBITDA
14.9×
Free-cash-flow yield
−16.1%
Dividend yield
3.1%
Revenue (last 12 months)
–
Revenue growth (3y a year)
–
Operating margin
–
Return on invested capital
4.0%
Net debt / EBITDA
6.7×
Fair value
Blended fair value$57.70 range $58 – $58
Versus priceFair−24% to fair value
Peer multiples
$57.70
10-year DCF (market-scaled)
n/m
Model uncertainty
High
X-Ray Score
23/ 100 · Low confidence · ahead of 0% of sector peers
Valuation12
Growth13
Profitability21
Financial health30
Dividends59
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
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 3.1%.
StocksXray gives Xcel Energy Inc an X-Ray Score of 23 out of 100 (low confidence), ahead of 0% of the S&P 500 stocks in its sector. Its strongest lens is dividends (59) and its weakest is valuation (12).
Our fair value blend is $57.70 (range $57.70 to $57.70). At $76.31 the stock trades 32% above that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Xcel Energy Inc (XEL)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$58.05
$61.79
$56.43
$63.38
$72.19
$76.31
Market cap
$31.3B
$33.8B
$31.1B
$35.7B
$42.5B
$47.8B
P/E
19.6×
19.5×
17.6×
18.4×
21.1×
20.8×
EV / revenue
–
–
–
–
–
–
EV / EBITDA
12.6×
12.0×
11.6×
12.5×
13.7×
14.9×
Price / free cash flow
–
–
–
–
–
–
Free-cash-flow yield
−6.6%
−2.1%
−1.7%
−7.6%
−16.1%
−16.1%
Price / book
2.0×
2.0×
1.8×
1.8×
1.8×
2.0×
Dividend yield
–
3.16%
3.69%
3.46%
3.16%
3.08%
Fundamentals checklist ● 0 Good · ● 3 Average · ● 8 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−2.9%Average
Free-cash-flow yield−16.1%Bad
Risk models
Altman Z score0.8×Average
Piotroski F-Score5 of 9Bad
Growth
EPS growth (3y)2.6%Bad
Balance sheet
Current ratio0.7×Average
Net debt / EBITDA6.7×Bad
Interest cover1.7×Bad
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield3.2%Bad
Profitability
Return on invested capital4.0%Bad
XStocksXray
Xcel Energy Inc (XEL)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
–
–
–
–
–
–
Gross profit
–
–
–
–
–
–
Operating income
2,203
2,428
2,481
2,386
2,583
2,789
Net income
1,597
1,736
1,771
1,936
2,018
2,233
Diluted EPS ($)
2.96
3.17
3.21
3.44
3.42
3.67
Free cash flow
-2,055
-706
-527
-2,723
-6,825
-7,692
Gross margin
–
–
–
–
–
–
Operating margin
–
–
–
–
–
–
Net margin
–
–
–
–
–
–
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
57,851
61,188
64,079
70,035
81,371
87,165
Cash
166
111
129
179
274
2,010
Total debt
23,385
24,777
26,250
29,114
33,883
39,457
Equity
15,612
16,675
17,616
19,522
23,609
24,057
Dividend per share ($)
–
1.95
2.08
2.19
2.28
2.32
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.