Xcel Energy (XEL) stock
Utilities · Multi-Utilities
Xcel Energy (XEL) is a Multi-Utilities company in the Utilities sector, headquartered in Minneapolis, Minnesota. As of October 23, 2026, XEL closed at $78.05, a market capitalization of $48.75 billion, the 238th largest company in the S&P 500. Over the last twelve months it generated $14.62 billion in revenue (-5% year over year) and -$7.69 billion in free cash flow. The stock trades at 21.4x trailing earnings and 17.2x forward earnings.
- 1-year total return: +0.1% (dividends reinvested)
- 5-year return: +6.9% a year
- 52-week range: $68.72 – $84.23
- Gross margin 46.8%, operating margin 22.7%
- Dividend yield: 3.04%, 22 straight years of increases
- FI Handbook report card: C- across 10 metrics
- 9th largest of 31 Utilities stocks in the S&P 500
XEL price chart
1Y price change: -2.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| XEL | +10.5% | +8.1% | +0.1% | +14.2% | +6.9% | +10.3% | +8.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1973.
XEL key statistics
- Market cap
- $48.8B
- #238 in S&P 500
- P/E (TTM)
- 21.4x
- Forward P/E
- 17.2x
- EPS (TTM)
- $3.65
- Revenue (TTM)
- $14.6B
- -5%
- Free cash flow
- -$7.7B
- Gross margin
- 46.8%
- Operating margin
- 22.7%
- Return on equity
- 9.9%
- Dividend yield
- 3.04%
- 52-week range
- $68.72 – $84.23
- Beta
- 0.37
- Price / sales
- 3.3x
- EV / EBITDA
- 14.4x
- Debt / equity
- 1.73x
- Employees
- 11,534
XEL report card
C-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-5.1%F
- Gross margin46.8%B
- Operating margin22.7%B
- FCF margin-52.6%F
- Return on equity9.9%D
- Net debt / EBITDA6.5xF
- Forward P/E17.2xB
- PEG ratio1.9xC
- Shareholder yield3.0%B
- Share count change / yr0.6%D
Xcel Energy financials
Revenue went from $9.6B in fiscal 2009 to $11.5B in fiscal 2018, growing 2.0% a year.
| Fiscal year | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.6B | $10.3B | $10.7B | $10.1B | $10.9B | $11.7B | $11.0B | $11.1B | $11.4B | $11.5B |
| Gross profit | — | — | — | — | — | — | — | $7.4B | $7.6B | $7.7B |
| Operating income | $1.5B | $1.6B | $1.8B | $1.8B | $1.8B | $1.9B | $2.0B | $2.2B | $2.2B | $2.0B |
| Net income | $680.9M | $755.8M | $841.2M | $905.2M | $948.2M | $1.0B | $984.0M | $1.1B | $1.1B | $1.3B |
| EPS (diluted) | $1.48 | $1.62 | $1.72 | $1.85 | $1.91 | $2.03 | $1.94 | $2.21 | $2.25 | $2.47 |
| Free cash flow | $1.9B | $1.2B | $2.4B | $2.0B | -$811.3M | -$540.3M | -$645.0M | -$143.0M | -$118.0M | -$835.0M |
| Buybacks | — | $0 | $0 | $18.5M | $0 | $0 | $0 | $32.0M | $3.0M | $1.0M |
| Dividends paid | $414.9M | $432.1M | $474.8M | $486.8M | $514.0M | $561.4M | $607.0M | $681.0M | $721.0M | $730.0M |
| Diluted shares | 457.1M | 463.4M | 485.6M | 488.4M | 496.5M | 504.1M | 508.2M | 509.0M | 509.0M | 511.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into XEL?
A reverse DCF asks what growth the current price requires. With an enterprise value of $88.4B and -$7.7B of trailing free cash flow, Xcel Energy needs to grow free cash flow at a rate outside our model for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 31.6x vs. median 21.3x (10th–90th percentile 14.8x–28.8x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
XEL dividend
- Dividend yield
- 3.04%
- Annual dividend
- $2.37
- Years of increases
- 22
- 5-yr dividend growth
- 10.5%
- per year
- Payout ratio
- 64%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
XEL analyst price targets
19 analysts' average 12-month target is $88.68 (+14% vs. $78.05). Targets range from $74.00 to $99.00. 90% rate it a buy.
XEL earnings
Next report: October 29, 2026. Xcel Energy has beaten EPS estimates 3 quarters in a row. Last quarter's revenue was $3.1B (-5% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $0.79 | $0.93 | +18.4% |
| Apr 30, 2026 | $0.91 | $0.91 | +0.2% |
| Feb 5, 2026 | $0.96 | $0.96 | +0.1% |
| Oct 30, 2025 | $1.32 | $1.24 | -5.9% |
| Jul 31, 2025 | $0.64 | $0.75 | +16.3% |
| Apr 24, 2025 | $0.92 | $0.84 | -8.6% |
| Feb 6, 2025 | $0.88 | $0.81 | -7.5% |
| Oct 31, 2024 | $1.26 | $1.25 | -0.9% |
Stocks like XEL
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 NEE NextEra Energy | +0.24% | +1% | $172.2B | 14.8x | Compare |
 D Dominion Energy | -0.31% | +12% | $57.3B | 22.6x | Compare |
 SRE DBA Sempra | -0.84% | -6% | $55.0B | 24.3x | Compare |
 ED Consolidated Edison | -0.45% | +19% | $42.8B | 19.1x | Compare |
 PCG Pacific Gas & Electric | -2.70% | -22% | $37.9B | 9.4x | Compare |
 AEE Ameren | -0.83% | +7% | $29.9B | 19.0x | Compare |
 DTE DTE Energy | -0.88% | -4% | $27.4B | 20.9x | Compare |
 CNP CenterPoint Energy, Inc (Holdin | -0.32% | +6% | $27.1B | 24.3x | Compare |
XEL news
- AEP and Xcel Energy Face Surging Power Demand. Which Dividend Is Safer? · Oct 23, 2026
- Xcel Energy (XEL) Earnings Expected to Grow: Should You Buy? · Oct 22, 2026
- Better Dividend Stock for Retirees: Duke Energy vs. Xcel Energy · Oct 16, 2026
- Xcel Energy Earnings Preview: What to Expect · Oct 13, 2026
- Xcel Energy Gives Back During Its 16th Annual Day of Service · Oct 8, 2026
XEL stock FAQ
What is XEL's market cap?
Xcel Energy's market capitalization is $48.75 billion as of October 23, 2026, ranking 238th in the S&P 500.
What is XEL's P/E ratio?
XEL trades at a trailing price-to-earnings ratio of 21.4x and a forward P/E of 17.2x. Its median P/E over the period we track is 21.3x.
Does XEL pay a dividend?
Yes. Xcel Energy pays $2.37 per share a year, a 3.04% yield. It has raised its dividend 22 years in a row. Dividends grew 10.5% a year over the last five years.
How much has XEL stock returned?
Including reinvested dividends, XEL returned +0.1% over one year, +6.9% a year over five years, +10.3% a year over ten years through October 23, 2026.
What is the XEL price target?
19 analysts cover XEL with an average 12-month price target of $88.68, +14% from the current price. 90% of them rate it a buy.
When does XEL report earnings?
Xcel Energy is expected to report earnings on October 29, 2026. It has beaten EPS estimates 3 quarters in a row.
How many employees does Xcel Energy have?
Xcel Energy has about 11,534 full-time employees, or $1.3 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology