Xcel Energy IncXcel Energy Inc
Xcel Energy Inc

Xcel Energy Inc

XEL
Utilities·Multi-Utilities

Xcel Energy, Inc. is an electric and natural gas delivery company. It operates through the following three segments: Regulated Electric, Regulated Natural Gas Utility and All Others. The Regulated Electric segment focuses on generating, purchasing, transmitting, and distributing electricity. The Regulated Natural Gas Utility segment includes purchases, transport, stores, distribution, and sales. The All Others segment involves steam, appliance repair services, non-utility real estate activities, revenues associated with processing solid waste into refuse-derived fuel, investments in rental housing projects that qualify for low-income housing tax credits and equity method investments in energy impact partners funds. The company was founded in 1909 and is headquartered in Minneapolis, MN.

Minnesota; U.S.A
Market cap
$45.8BNo data
Revenue
$14.7BNo data
Net income
$2B+4.2% YoY
Free cash flow
$-6.8B−150.6% YoY

Market

Listed stock
XELPriceNasdaq
Loading…Loading…1Y

Financial performance

Revenue
$14.7BNo data
Operating income
$2.6B+8.3% YoY
Net income
$2B+4.2% YoY
Free cash flow
$-6.8B−150.6% YoY

Revenue, profit & cash trend

Operating income
Net income
Free cash flow
Reference
Operating income: 2021 $2.2B, 2022 $2.4B, 2023 $2.5B, 2024 $2.4B, 2025 $2.6B. Net income: 2021 $1.6B, 2022 $1.7B, 2023 $1.8B, 2024 $1.9B, 2025 $2B. Free cash flow: 2021 $-2.1B, 2022 $-706M, 2023 $-527M, 2024 $-2.7B, 2025 $-6.8B. Reference line: Reference at $0.

Growth & profitability

Revenue growth
No dataNo data
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $2.2B, 2022-12-31 $2.4B, 2023-12-31 $2.5B, 2024-12-31 $2.4B, 2025-12-31 $2.6B. Net income: 2021-12-31 $1.6B, 2022-12-31 $1.7B, 2023-12-31 $1.8B, 2024-12-31 $1.9B, 2025-12-31 $2B. Free cash flow: 2021-12-31 $-2.1B, 2022-12-31 $-706M, 2023-12-31 $-527M, 2024-12-31 $-2.7B, 2025-12-31 $-6.8B

Growth heatmap

2022202320242025CAGR
RevenueNo data
No data
Gross profit
-15.8%
-11.4%
+71.4%
+21.4%
No data
Operating income
+10.2%
+2.2%
-3.8%
+8.3%
+4.1%
Free cash flow
+65.6%
+25.4%
-416.7%
-150.6%
No data

Earnings quality

Operating cash flow
$4.1B−12.0% YoY
Net income
$2B+4.2% YoY
Free cash flow
$-6.8B−150.6% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 202%, 2024-12-31 240%, 2023-12-31 301%, 2022-12-31 226%, 2021-12-31 137%. Free cash flow: 2025-12-31 -338%, 2024-12-31 -141%, 2023-12-31 -30%, 2022-12-31 -41%, 2021-12-31 -129%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
No data
No data
No data