Xcel Energy (XEL) Stock Analysis

November 11, 2026

This is a peer-relative look at Xcel Energy (XEL): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Utilities peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Xcel Energy (XEL)
Profile Item	XEL
Name	Xcel Energy Inc.
Country/Region	United States
GICS Sector	Utilities
GICS Industry Group	Utilities
GICS Industry	Electric Utilities
GICS Sub-Industry	Electric Utilities
Market Capitalization	51.14 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	February 21, 1973
Security Type	Common Stock

Price Performance

Cumulative Growth

XEL

GSPC

Xcel Energy (XEL) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Xcel Energy (XEL) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Xcel Energy (XEL) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
Total Return (1Y)	2.65%	5.85%
Total Return (3Y, Annualized)	14.93%	15.48%
Total Return (5Y, Annualized)	8.26%	8.14%

Risk Profile

Drawdown History

XEL

GSPC

Xcel Energy (XEL) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Xcel Energy (XEL) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
Volatility (1Y, Annualized)	19.49%	22.23%
Beta (5Y)	0.33	0.53
Max Drawdown (5Y)	-34.41%	-36.85%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. XEL is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
Sharpe Ratio (1Y)	-0.08	0.08
Sortino Ratio (1Y)	-0.12	0.12

Profitability

ROE (TTM)

Xcel Energy (XEL) posts ROE of 11.44%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

XEL

Utilities industry group

11.44%

Group distribution

Max: 17.99%
Q3: 12.01%
XEL: 11.44%
Median: 9.44%
Q1: 7.56%
Min: 2.17%

Largest peers

CEG: 15.06%
NEE: 14.06%
SO: 11.90%
XEL: 11.44%
AEP: 10.60%
NGG: 10.31%
DUK: 10.10%

Where Xcel Energy (XEL) stands on ROE within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Xcel Energy (XEL) keeps 17.95% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

XEL

Utilities industry group

17.95%

Group distribution

Max: 28.78%
XEL: 17.95%
Q3: 17.30%
Median: 12.73%
Q1: 9.18%
Min: -0.20%

Largest peers

NEE: 40.37%
NGG: 21.15%
XEL: 17.95%
DUK: 16.16%
SO: 16.00%
AEP: 14.21%
CEG: 11.08%

Where Xcel Energy (XEL) stands on net margin within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Xcel Energy (XEL) turns 28.50% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

XEL

Utilities industry group

28.50%

Group distribution

Max: 53.83%
Q3: 31.12%
XEL: 28.50%
Median: 23.62%
Q1: 15.45%
Min: -4.90%

Largest peers

SO: 36.92%
NEE: 33.00%
DUK: 30.03%
NGG: 28.64%
XEL: 28.50%
AEP: 26.89%
CEG: 8.66%

Where Xcel Energy (XEL) stands on operating margin within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
ROE (TTM)	11.44%	9.44%
ROA (TTM)	2.37%	3.08%
Net Margin (TTM)	17.95%	12.73%
Operating Margin (TTM)	28.50%	23.62%
Gross Margin (TTM)	47.27%	44.03%

Growth

Revenue Growth

Xcel Energy (XEL) grew revenue 9.14%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Xcel Energy (XEL): Revenue Growth across different time periods, set against Utilities industry-group medians.

EPS Growth

Xcel Energy (XEL) grew earnings per share -0.58%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Xcel Energy (XEL): EPS Growth across different time periods, set against Utilities industry-group medians.

Growth Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
Revenue Growth (YoY)	9.14%	8.45%
Revenue Growth (3Y CAGR)	-1.42%	3.87%
EPS Growth (YoY)	-0.58%	3.93%
EPS Growth (3Y CAGR)	2.56%	5.25%

Financial Strength

Current Ratio (MRQ)

Xcel Energy (XEL) has current ratio of 0.69, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

XEL

Utilities industry group

0.69

Group distribution

Max: 1.90
Q3: 1.17
Median: 0.88
XEL: 0.69
Q1: 0.66
Min: 0.29

Largest peers

CEG: 1.46
SO: 0.84
XEL: 0.69
DUK: 0.68
NGG: 0.62
NEE: 0.53
AEP: 0.51

Where Xcel Energy (XEL) stands on current ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Xcel Energy (XEL) has debt-to-equity ratio of 1.68, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

XEL

Utilities industry group

1.68

Group distribution

Max: 2.63
Q3: 1.77
XEL: 1.68
Median: 1.35
Q1: 0.84
Min: 0.00

Largest peers

SO: 1.68
XEL: 1.68
DUK: 1.63
AEP: 1.62
NEE: 1.53
NGG: 1.32
CEG: 0.76

Where Xcel Energy (XEL) stands on debt-to-equity ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
Current Ratio (MRQ)	0.69	0.88
Debt / Equity (MRQ)	1.68	1.35
Net Debt / EBITDA	6.35	5.31

Dividends

Dividend Yield (TTM)

Xcel Energy (XEL) has dividend yield of 2.92%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

XEL

Utilities industry group

2.92%

Group distribution

Max: 6.66%
Q3: 3.58%
XEL: 2.92%
Median: 2.85%
Q1: 0.66%
Min: 0.00%

Largest peers

DUK: 3.29%
SO: 3.21%
AEP: 3.00%
XEL: 2.92%
NEE: 2.76%
CEG: 0.68%
NGG: 0.57%

Where Xcel Energy (XEL) stands on dividend yield within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Xcel Energy (XEL) has payout ratio of 54.72%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

XEL

Utilities industry group

54.72%

Group distribution

Max: 113.04%
Q3: 68.72%
Median: 56.38%
XEL: 54.72%
Q1: 32.38%
Min: 0.00%

Largest peers

NGG: 71.97%
SO: 68.49%
DUK: 62.76%
AEP: 62.09%
XEL: 54.72%
NEE: 43.89%
CEG: 15.92%

Where Xcel Energy (XEL) stands on payout ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
Dividend Yield (TTM)	2.92%	2.85%
Dividend Payout Ratio (TTM)	54.72%	56.38%

Valuation

P/E Ratio (TTM)

Xcel Energy (XEL) trades at P/E ratio of 18.57, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

XEL

Utilities industry group

18.57

Group distribution

Max: 31.22
Q3: 23.30
Median: 19.64
XEL: 18.57
Q1: 15.17
Min: 3.34

Largest peers

CEG: 24.43
SO: 21.08
AEP: 20.67
DUK: 18.74
XEL: 18.57
NEE: 15.67
NGG: 15.54

Where Xcel Energy (XEL) stands on P/E ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Xcel Energy (XEL) trades at 3.44 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

XEL

Utilities industry group

3.44

Group distribution

Max: 6.35
Q3: 3.63
XEL: 3.44
Median: 2.63
Q1: 1.52
Min: 0.00

Largest peers

NEE: 6.33
NGG: 4.46
SO: 3.45
XEL: 3.44
DUK: 2.99
AEP: 2.92
CEG: 2.83

Where Xcel Energy (XEL) stands on P/S ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Xcel Energy (XEL) trades at 1.98 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

XEL

Utilities industry group

1.98

Group distribution

Max: 3.12
Q3: 2.21
XEL: 1.98
Median: 1.83
Q1: 1.46
Min: 0.34

Largest peers

NGG: 9.36
NEE: 2.97
CEG: 2.78
SO: 2.56
AEP: 2.10
XEL: 1.98
DUK: 1.83

Where Xcel Energy (XEL) stands on P/B ratio within its Utilities peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Xcel Energy (XEL) metric values compared with Utilities industry-group medians
Metric	Current stock: XEL	Industry group median
P/E Ratio (TTM)	18.57	19.64
P/S Ratio (TTM)	3.44	2.63
P/B Ratio (MRQ)	1.98	1.83
Free Cash Flow Yield (TTM)	-16.32%	-7.11%