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XCEL ENERGY INC XEL

Nasdaq · stock · Electric & Other Services Combined · website · IPO 1949-02-28 · LEI

XCEL ENERGY INC statistics & valuation

Market cap$49.3B
P / E24.4×
P / B2.1×
Dividend yield2.60%
Return on equity8.5%
Net debt$32.1B
Net debt / EBITDA5.8×
Enterprise value USD$81.4B
EV / EBITDA14.7×
Earnings yield EBIT/EV3.2%
Return on capital3.5%
Graham number -31.3%$53.97

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($53.97); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
20.20% 19.50% 17.00% 2016201720182019202020212022202320242025
Return on equity (%)
10.20% 10.00% 10.30% 10.40% 10.10% 10.20% 10.40% 10.10% 9.90% 8.50% 2016201720182019202020212022202320242025
Shares outstanding
509.0M 509.0M 514.0M 524.5M 537.4M 544.0M 549.6M 554.9M 574.4M 623.6M 2016201720182019202020212022202320242025
Net debt ($)
$16.06B $17.86B $19.94B $22.21B $23.85B $25.34B $27.14B $32.06B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2.70% 2.70% 2.70% 2.70% 2.70% 2.80% 2.80% 2.80% 2.80% 2.50% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
1.33× 1.37× 1.38× 1.43× 1.44× 1.45× 1.40× 1.37× 2016201720182019202020212022202320242025
EPS ($)
$2.21 $2.25 $2.47 $2.64 $2.79 $2.96 $3.17 $3.21 $3.44 $3.42 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

XCEL ENERGY INC trades at about 23× earnings — near its 10-year norm (10-year range 18.7×–26.2×, median 21.7×).

18.7× 26.2×

Shaded band = 10-year range (18.7×–26.2×); dot = today's 23×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin———————17.0%19.5%20.2%
Net margin———————10.9%10.1%10.1%
Return on assets2.5%2.8%2.8%2.8%2.8%2.7%2.7%2.7%2.7%2.7%
Return on equity8.5%9.9%10.1%10.4%10.2%10.1%10.4%10.3%10.0%10.2%
Debt / equity1.37×1.40×1.45×1.44×1.43×1.38×1.37×1.33×——
Current ratio0.710.670.720.850.840.770.680.690.730.88

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.