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XE

Xcel Energy Inc.

XELUtilitiesNASDAQ

Utilities - Regulated Electric · Last scanned Jun 3, 2026

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Financials · Annual
Revenue
$14.67B
+9.1% YoY
Net Income
$2.02B
+4.2% YoY
EBITDA
$6.20B
+10.9% YoY
Free Cash Flow
-$7.47B

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About Xcel Energy Inc.

Headquartered within the utilities sector, Xcel Energy Inc. focuses on Utilities - Regulated Electric services and products. Xcel Energy Inc., through its subsidiaries, operates as an electric and natural gas delivery company in the United States. At a $48.61B market cap, Xcel Energy Inc. ranks as a large-cap company within utilities. It operates through Regulated Electric Utility and Regulated Natural Gas Utility segments.

Key stats
Market Cap$48.61B
P/E (TTM)22.44
Fwd P/E17.18
EPS$3.47
Beta0.42
52W Change+13.7%
Dividend Yield3.04%
ROE9.6%
Analysis

Xcel Energy Inc. carries $39.24B in total debt against $1.77B in cash reserves — debt is roughly 22.2x the cash position. Managing this leverage effectively will be important for long-term financial stability. Free cash flow is running at -$7.47B, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. Return on equity stands at 9.6%, which is decent for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 2.3% is on the lower side, which is common in asset-heavy industries. Revenue has been relatively flat, moving from $15.31B (2022) to $14.67B (2025).

The relatively low beta of 0.42 suggests XEL is a less volatile holding compared to the broader index. Debt significantly exceeds cash reserves, which means the company's financial flexibility could be constrained during economic downturns. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence Xcel Energy Inc.'s trajectory.

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