Xcel Energy (XEL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Xcel Energy

NasdaqGS•Utilities•Utilities - Regulated Electric

$72.63+0.14(<0.01%)Market open

Market Cap

$45.44B

P/E

20.4x

P/S

3.1x

P/B

1.9x

Xcel Energy Inc., through its subsidiaries, operates as an electric and natural gas delivery company in the United States. It operates through Regulated Electric Utility and Regulated Natural Gas Utility segments. The company generates, purchases, transmits, distributes, and sells electricity through its energy portfolio, including wind, nuclear, hydroelectric, biomass, and solar power from both owned generation facilities and PPAs, as well as its fossil fuel energy portfolio, such as coal and natural gas; sale and resale of wholesale transmission service; and engages in wholesale commodity and trading operations. It also purchases, transports, stores, distributes, and sells natural gas; develops and leases natural gas pipelines and storage facilities; operates interstate natural gas pipeline; and invests in rental housing projects, energy technology companies, and community solar garden nonregulated assets. It serves electric and natural gas customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. The company was formerly known as Northern States Power company. Xcel Energy Inc. was incorporated in 1909 and is headquartered in Minneapolis, Minnesota.

How this company scores

AverageMetricSide Score: 47/100

Strongest: Profitability (21/25); weakest: Cash & Earnings Quality (0/25).

Profitability21/25

Growth14/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality0/25

Strengths

Strong marginsProfit converts from growthConsistent growthImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 20.4x5y range 16.0x – 24.7x

Currently near its 20-quarter median.

P/S · 3.1x5y range 2.1x – 3.3x

Currently near its 20-quarter median.

P/B · 1.9x5y range 1.7x – 2.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Red Flag

The last 8 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Price & Volume

Market Cap $45.44B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $14.62B
Q. Revenue: $3.12B
TTM EBITDA: $2.79B
TTM Op. Income: $2.79B
Q. Op. Income: $706.00M
TTM Net Income: $2.23B
Q. Net Income: $586.00M
EPS: $0.94
Shares Out.: $625.00M

$14.62B in TTM revenue grew 4.7% YoY, reaching $3.12B last quarter. TTM EBITDA of $2.79B and TTM operating income of $2.79B show growth is flowing through to the bottom line. TTM net income of $2.23B means revenue is converting into profit. Over the past year, TTM revenue is up 5% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 22.6%
Op. Margin: 22.6%
Net Margin: 18.8%

Op. margin of 22.6% is up 5.1% YoY — cost efficiency is improving. Net margin at 18.8% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 20.4x
P/S Ratio: 3.1x
P/B Ratio: 1.9x

At 20.4x P/E, the stock trades within typical market levels. P/S of 3.1x and P/B of 1.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 6% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $87.17B
Cash: $2.01B
Long-Term Debt: $36.95B
Book Value: $24.06B
D/E Ratio: 1.5
Debt/EBITDA: 52.3

With $87.17B in assets and $36.95B in long-term debt, D/E is 1.5and book value is $24.06B — moderate leverage. Across the last 7 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.10B
TTM Free Cash Flow: $-7.69B
FCF Margin: -52.6%
FCF / Net Income: -3.4

TTM FCF of $-7.69B on $1.10B in operating cash flow. The FCF / Net Income ratio of -3.4x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 7 consecutive quarters — a weakening trend.