Saturday 17 October 2026 Export XEL’s income statement to Excel — free account

Xcel Energy Inc.

XEL Utilities Utilities Regulated Electric

Xcel Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.7 billion, up 9.14% from fiscal 2024. In the quarter to June 2026, revenue fell 5.11%, EPS grew 23.7%, free cash flow fell 37.3% and total debt rose 22.7%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for ten consecutive years.

76.36 1.24 +1.65%

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Market cap: $46.9B
P/E: 20.8×
Fwd P/E: 19.2×
Dividend yield: 3.07%
F-score: 5/9
Altman Z: 0.86
Beneish M: −2.50
Dividend safety: 38/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Share dilution Jul 30, 2026

All filings →

Insider Decisions trades per month

Total sells 1.40

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	2	—	—	—	—	—	—	—

Insider Ownership 0.25%

Capital & Financial Ratios $m

Market Cap 46,920.00

Revenue 14,616.00

Net Income 2,233.00

Free Cash Flow (7,692.00)

Net Debt 37,447.00

Current Ratio 0.70

Debt/Equity 1.64

P/E ratio 20.81

Fwd P/E 19.20

P/S ratio 3.27

P/B ratio 1.98

Past 5Y EPS Growth 4.16%

This Y EPS Growth 8.57%

Next Y EPS Growth 10.22%

Next Y revenue growth 6.37%

Next 5Y EPS Growth 9.84%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 45.48%

10-year low 10-year high

P/S against its own 10 years 91.96%

10-year low 10-year high

P/B against its own 10 years 26.98%

10-year low 10-year high

EV/Sales against its own 10 years 98.16%

10-year low 10-year high

Dividends

Payout Ratio 0.64

Annual Dividend Rate 2.35

Annual Dividend Yield 3.07%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	2.37	0.59 0.59 0.59
2025	2.29	0.55 0.57 0.57 0.57 0.57
2024	1.64	0.55 0.55 0.55
2023	2.60	0.52 0.52 0.52 0.52 0.52
2022	1.95	0.49 0.49 0.49 0.49
2021	1.83	0.46 0.46 0.46 0.46
2020	1.72	0.43 0.43 0.43 0.43
2019	1.62	0.41 0.41 0.41 0.41
2018	1.52	0.38 0.38 0.38 0.38
2017	1.44	0.36 0.36 0.36 0.36
2016	1.36	0.34 0.34 0.34 0.34

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	129	179	274	2,010
Receivables	1,315	1,249	1,330	1,255
Inventory	711	666	761	745
Other	1,568	1,507	1,574	1,485
	4,069	4,325	5,014	6,082

	2023	2024	2025	Q'26
Payables	1,668	1,781	2,307	2,323
ST’ Debt	1,337	1,798	2,051	3,509
Other	1,324	1,524	1,350	1,562
	5,652	6,459	7,089	8,672

Compound Annual Growth %

	10y	5y	3y
Sales	2.90%	4.94%	(1.42%)
Cash Flow	3.00%	7.47%	1.26%
Earnings	7.45%	6.50%	5.15%
Book Value	8.34%	10.13%	12.29%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	4,021	3,119	—	—	—
’25	3,906	3,287	3,915	3,561	14,669
’24	3,649	3,028	3,644	3,120	13,441
’23	4,080	3,022	3,662	3,442	14,206
’22	3,751	3,424	4,082	4,053	15,310
’21	3,541	3,068	3,467	3,355	13,431
’20	2,811	2,586	3,182	2,947	11,526

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1,697	1,100	—	—	—
’25	1,028	1,081	1,765	209	4,083
’24	1,050	1,190	1,737	664	4,641
’23	1,537	918	1,898	974	5,327
’22	1,140	848	1,179	765	3,932
’21	(136)	625	1,090	610	2,189
’20	669	479	1,026	674	2,848

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1,325)	(1,848)	—	—	—
’25	(960)	(1,346)	(1,290)	(3,229)	(6,825)
’24	(487)	(641)	(42)	(1,553)	(2,723)
’23	272	(416)	257	(640)	(527)
’22	198	(250)	(106)	(548)	(706)
’21	(1,160)	(318)	25	(602)	(2,055)
’20	(938)	(483)	(86)	(1,014)	(2,521)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.89	0.93	—	—	—
’25	0.84	0.75	0.88	0.95	3.42
’24	0.88	0.54	1.21	0.81	3.44
’23	0.76	0.52	1.19	0.74	3.21
’22	0.70	0.60	1.18	0.69	3.17
’21	0.67	0.58	1.13	0.58	2.96
’20	0.56	0.54	1.14	0.54	2.79

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	35.19	40.04	41.51	47.70	46.58	57.23	56.89	53.73	46.79	62.58	Analyst estimates 2026–2028 Powerpack
	High	45.42	52.22	54.11	66.05	76.44	72.94	77.66	72.97	73.38	83.01
People
People	Employees	11,512	11,134	11,092	11,317	11,367	11,321	11,982	11,311	11,380	11,534
	Revenue/emp, $m	0.96	1.02	1.04	1.02	1.01	1.19	1.28	1.26	1.18	1.27
Income, $m
Income, $m	Revenue	11,107	11,404	11,537	11,529	11,526	13,431	15,310	14,206	13,441	14,669
	Gross margin, %	59.60	59.54	58.98	61.25	63.23	56.43	54.55	59.29	64.64	65.83
	EBT	1,704	1,690	1,442	1,500	1,467	1,527	1,601	1,625	1,534	1,773
	EBT margin, %	15.34	14.82	12.50	13.01	12.73	11.37	10.46	11.44	11.41	12.09
	Net income	1,123	1,148	1,261	1,372	1,473	1,597	1,736	1,771	1,936	2,018
	Depreciation	1,436	1,609	1,781	1,904	2,082	2,257	2,554	2,567	2,875	3,082
Per share, $
Per share, $	Revenue	21.82	22.40	22.58	22.21	21.87	24.92	27.99	25.74	23.87	24.99
	Earnings	2.21	2.26	2.47	2.64	2.79	2.96	3.18	3.21	3.44	3.44
	Cash flow	6.00	6.14	6.11	6.29	5.40	4.06	7.19	9.65	8.24	6.96
	Capex	(6.28)	(6.37)	(7.74)	(8.14)	(10.19)	(7.87)	(8.48)	(10.61)	(13.08)	(18.58)
	Free cash flow	(0.28)	(0.23)	(1.63)	(1.85)	(4.78)	(3.81)	(1.29)	(0.95)	(4.84)	(11.63)
	Book value	21.65	22.50	23.92	25.51	27.66	28.96	30.48	31.91	34.68	40.22
	Shares, m	509	509	511	519	527	539	547	552	563	587
Valuation, ×
Valuation, ×	P/E	18.38	21.15	19.95	23.96	23.90	22.87	22.03	19.77	19.63	21.47
	P/S	1.86	2.13	2.18	2.86	3.05	2.72	2.50	2.47	2.83	2.96
	P/B	1.88	2.12	2.06	2.49	2.41	2.34	2.30	1.99	1.95	1.84
	EV/Sales	3.19	3.51	3.66	4.46	4.83	4.45	4.11	4.31	4.98	5.25
	EV/FCF	(247.78)	(339.35)	(50.63)	(53.44)	(22.08)	(29.06)	(89.23)	(116.05)	(24.59)	(11.28)
Cash, $m
Cash, $m	Operating cash flow	3,052	3,126	3,122	3,263	2,848	2,189	3,932	5,327	4,641	4,083
	Capex	(3,195)	(3,244)	(3,957)	(4,225)	(5,369)	(4,244)	(4,638)	(5,854)	(7,364)	(10,908)
	Free cash flow	(143)	(118)	(835)	(962)	(2,521)	(2,055)	(706)	(527)	(2,723)	(6,825)
Balance, $m
Balance, $m	Working capital	(405)	(1,115)	(1,366)	(1,455)	(964)	(807)	(934)	(1,583)	(2,134)	(2,075)
	Total debt	14,842	15,791	17,247	18,704	20,650	23,385	24,777	26,250	29,114	33,883
	Net debt	14,757	15,708	17,100	18,456	20,521	23,219	24,666	26,121	28,935	33,609
	Shareholders’ equity	11,021	11,455	12,222	13,239	14,575	15,612	16,675	17,616	19,522	23,609
Returns, %
Returns, %	ROA	2.81	2.73	2.83	2.85	2.82	2.86	2.92	2.83	2.89	2.67
	ROIC	5.43	5.11	4.19	4.15	3.77	3.55	3.67	3.55	3.08	2.82
	ROE	10.39	10.22	10.65	10.78	10.59	10.58	10.75	10.33	10.43	9.36

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
AEP American Electric Power Company, Inc.	$67.7B	21.8×	20.3×	+7.04% (above 0%: growing)	−42.79% (below 0%: shrinking)	−28.81% (below 0%: shrinking)	70.56%	22.90%	Compare
D Dominion Energy Inc.	$55.3B	22.2×	18.6×	+17.59% (above 0%: growing)	−57.95% (below 0%: shrinking)	+31.64% (above 0%: growing)	67.68%	7.34%	Compare
ETR Entergy Corporation	$49.7B	26.5×	25.3×	+5.85% (above 0%: growing)	−1.87% (below 0%: shrinking)	−16.71% (below 0%: shrinking)	69.73%	24.13%	Compare
XEL Xcel Energy Inc.	$46.9B	20.8×	19.2×	−5.11% (below 0%: shrinking)	+23.68% (above 0%: growing)	−37.30% (below 0%: shrinking)	75.22%	22.64%
EXC Exelon Corporation	$43.9B	15.9×	16.0×	+9.95% (above 0%: growing)	0.00%	+49.00% (above 0%: growing)	62.95%	16.41%	Compare
ED Consolidated Edison Inc	$40.5B	18.4×	17.0×	+13.18% (above 0%: growing)	+22.06% (above 0%: growing)	−30.76% (below 0%: shrinking)	74.22%	13.57%	Compare
PEG Public Service Enterprise Group Incorporated	$35.0B	17.8×	18.3×	−8.95% (below 0%: shrinking)	−42.74% (below 0%: shrinking)	+30.10% (above 0%: growing)	66.09%	18.05%	Compare
WEC WEC Energy Group, Inc.	$34.6B	21.0×	20.2×	+2.62% (above 0%: growing)	+19.48% (above 0%: growing)	−1,365.55% (below 0%: shrinking)	73.06%	20.99%	Compare
AEE Ameren Corporation	$28.7B	18.5×	20.3×	−5.81% (below 0%: shrinking)	+11.76% (above 0%: growing)	−51.22% (below 0%: shrinking)	73.90%	21.94%	Compare
Median of peers	$42.2B	19.7×	19.4×	+6.45%	−0.93%	−22.76%	70.15%	19.52%

All 40 Utilities Regulated Electric stocks →

Xcel Energy Inc. (XEL) key facts

Strength: Xcel Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.7 billion, up 9.14% from fiscal 2024.
Strength: Net income was $2.0 billion, or $3.44 per share (basic), a net margin of 13.8%.
Xcel Energy Inc. (XEL) is an Utilities Regulated Electric company in the Utilities sector, listed on Nasdaq.
As of October 16, 2026, XEL traded at $76.36, a market capitalization of $46.9 billion.
At that price the stock trades at 20.8× trailing-twelve-month earnings and 3.3× sales; its P/E is higher than 45% of its own readings over the past ten years.
Xcel Energy Inc. pays an annual dividend of $2.35 per share, a yield of 3.07%, with a payout ratio of 64.3%.
Return on equity was 9.36% and debt-to-equity 1.64.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 0.86 (distress zone) for fiscal 2025.