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Stock research / United States / XEL · Electric & Other Services Combined · Nasdaq

Xcel Energy Inc. (XEL)

Xcel Energy is a holding company operating through four utility subsidiaries that generate, purchase, transmit, distribute and sell electricity, three of which also buy, transport, distribute and sell natural gas and transport gas owned by customers. Electric sales volume was 109,401 million kWh in 2025 across 3.9 million electric customers, and natural gas deliveries were 400,982 thousand MMBtu across 2.2 million gas customers.

Xcel Energy Inc.

Xcel Energy is a holding company operating through four utility subsidiaries that generate, purchase, transmit, distribute and sell electricity, three of which also buy, transport, distribute and sell natural gas and transport gas owned by customers. Electric sales volume was 109,401 million kWh in 2025 across 3.9 million electric customers, and natural gas deliveries were 400,982 thousand MMBtu across 2.2 million gas customers.

Residential customers are 86 percent of the electric customer count but take 24 percent of the volume, while commercial and industrial customers are 12 percent of the count and take 61 percent of the volume. Sales per retail customer were 24,177 kWh in 2025.

The four utilities

NSP-Minnesota operates in Minnesota, North Dakota and South Dakota, serving 1.6 million electric and 0.6 million gas customers, with 8,700 MW of owned electric generating capacity, 16.9 Bcf of gas storage, 34,000 conductor miles of electric transmission lines, 87,000 conductor miles of electric distribution lines and 11,000 miles of gas distribution lines.

NSP-Wisconsin operates in Wisconsin and Michigan, serving 0.3 million electric and 0.1 million gas customers, with 500 MW of owned generating capacity, 4.3 Bcf of gas storage, 12,000 conductor miles of transmission and 29,000 of distribution. The electric operations of the two NSP companies are managed together as one integrated system.

PSCo operates in Colorado, serving 1.6 million electric and 1.5 million gas customers, with 6,500 MW of owned generating capacity, 32.1 Bcf of gas storage, 27,000 conductor miles of transmission, 84,000 of distribution, and 2,000 miles of gas transmission and 24,000 miles of gas distribution lines.

SPS operates in Texas and New Mexico, is electric only, and serves 0.4 million customers with 5,100 MW of owned generating capacity, 41,000 conductor miles of transmission and 25,000 of distribution.

The generation plan

The filing says the operating footprint includes some of the best wind and solar resources in the country, giving higher capacity factors and lower electricity costs. Wind capacity is now approximately 11,000 MW, including nearly 4,500 MW of owned wind. The carbon-free portfolio also covers nuclear, hydroelectric, biomass and solar, from both owned facilities and purchase agreements, and the filing notes that carbon-free percentages vary year to year with system additions, commodity costs, weather, demand and transmission constraints.

The second phase of the Sherco Solar project in Minnesota was completed in 2025 with a third phase coming online in 2026, and the company is proposing a fourth phase that it says would take the facility to 910 MW of generating capacity by 2029. Its base capital investment plan for 2026 to 2030 includes approximately 9,500 MW of new and repowered wind, solar and battery storage resources, plus approximately 3,000 MW of new natural gas generation for reliability.

Through 2025 the company reduced carbon emissions from generation serving customers by an estimated 58 percent from 2005 levels, and the filing says it remains on track to fully exit coal by the end of 2030 and holds a goal of zero-carbon electricity by 2050. On the gas side it states a 2050 goal of net-zero natural gas service, with priorities of operating a gas system with net-zero methane service by 2030, voluntary electrification-first approaches for new growth, and offering customers a portfolio of energy solutions. On transport, it says it aims to enable charging infrastructure for 1.5 million electric vehicles across its service areas by 2035, with approved clean transportation programmes in Colorado, New Mexico, Minnesota and Wisconsin.

Wildfire

The filing says protecting customers and the system from extreme weather is a top priority. In 2025 the company received approvals from both the Colorado and Texas commissions for its wildfire mitigation and system resiliency plans, and it has public-facing wildfire mitigation plans in each of its states. The work includes advanced camera and weather station technologies, enhanced powerline safety setting installations, pole inspections and replacements, and operational measures such as wildfire safety operations and public safety power shutoffs. Utility wildfire legislation also passed in Texas and North Dakota in 2025, and the filing says the company continues to explore similar structures in its other states.

From Xcel Energy's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Xcel Energy became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 29 October 2026
Revenue
$4.2 billion
+6.6% on the year · +33.8% on the quarter
Q4 FY2024Q3 FY2026
Net income
$960 million
+83.2% on the year · +63.8% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$1.52
+72.7% on the year · +63.4% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 25 February 2026
Revenue
$14.7 billion
+9.1% on the year
FY2018FY2025
Net income
$2.0 billion
+4.2% on the year
FY2018FY2025
Diluted EPS
$3.42
-0.6% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsXcel Energy (XEL) reported revenue of $14.7 billion for fiscal 2025, the year ended 31 December 2025, up 9.1% on the year before. Net income was $2.0 billion and diluted earnings per share $3.42. Revenue was $13.4 billion in fiscal 2024, $14.2 billion in fiscal 2023, $15.3 billion in fiscal 2022 and $13.4 billion in fiscal 2021. Net income in the same years was $1.9 billion, $1.8 billion, $1.7 billion and $1.6 billion. Over the twelve months to 30 September 2026, Xcel Energy reported revenue of $14.9 billion and net income of $2.7 billion. Revenue grew 4.9% a year, compounded, over the five years to fiscal 2025. Xcel Energy declared $2.34 a share in dividends over the last four quarters and had 635 million shares outstanding at the latest filed count. At the close of 6 November 2026 the market cap of Xcel Energy was $50.6 billion, 18.6 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE10.5%
ROCE4.9%
Operating margin21.7%
Net margin17.9%
FCF margin-51.2%
Interest cover1.9x
Debt to equity1.59x
Cash conversion1.90x
Share count, last 12 months7.4%
Sales CAGR, 3 years-1.4%
Profit CAGR, 3 years5.1%
EPS, TTM$4.29

At the close of 6 November 2026

Price$79.68
Market cap$50.6 billion
Stock P/E18.6x
Price to book2.0x
EV / EBITDA14.2x
Dividend yield2.9%
Market cap / sales3.4x
52-week high$83.91
52-week low$69.39
Price, 1 year-1.1%
Price CAGR, 3 years10.0%
Price CAGR, 5 years4.5%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Xcel Energy Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
XELgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,9473,7513,4244,0824,0534,0803,0223,6623,4423,6493,0283,6443,1203,9063,2873,9153,5614,0213,1194,172
Operating income4265104699245255734189155756794499113476775777495807547061,191
Operating margin14%14%14%23%13%14%14%25%17%19%15%25%11%17%18%19%16%19%23%29%
Interest expense214214247244248253268269265291319326319332349384403412443484
Pre-tax income2623302546933243652006963644612146921674223845324355095261,029
Tax rate-20%-15%-29%6%-17%-15%-44%6%-12%-6%-41%1%-178%-14%-16%2%-30%-9%-11%7%
Net income288380328649379418288656409488302682464483444524567556586960
Net margin10%10%10%16%9%10%10%18%12%13%10%19%15%12%14%13%16%14%19%23%
Diluted EPS$0.54$0.70$0.60$1.18$0.69$0.76$0.52$1.19$0.74$0.88$0.54$1.21$0.81$0.84$0.75$0.88$0.95$0.89$0.93$1.52
Operating cash flow6101,1408481,1797651,5379181,8989741,0501,1901,7376641,0281,0811,7652091,6971,1002,071
Capital expenditure1,2129421,0981,2851,3131,2651,3341,6411,6141,5371,8311,7792,2171,9882,4273,0553,4383,0222,9483,285
Free cash flow-602198-250-106-548272-416257-640-487-641-42.0-1,553-960-1,346-1,290-3,229-1,325-1,848-1,214
Dividends paid237240257257258259277278278280295296304306319329328347361362
Shares outstanding544m545m547m547m550m550m551m552m555m555m557m574m574m577m591m591m624m624m624m635m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007 †FY2008 †FY2009 †FY2010FY2011FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024 †FY2025TTM
Revenue10,03411,2039,64410,31110,65510,12810,91511,68611,02411,10711,40411,53711,52911,52613,43115,31014,20613,44114,66914,873
Cost of revenuen/an/an/an/an/an/an/an/an/a3,7183,7573,854n/an/an/an/an/an/an/an/a
Gross profitn/an/an/an/an/an/an/an/an/a7,3897,6477,683n/an/an/an/an/an/an/an/a
Gross marginn/an/an/an/an/an/an/an/an/a66.5%67.1%66.6%n/an/an/an/an/an/an/an/a
Operating income1,3511,3911,4691,6201,7821,8231,8481,9482,0012,2402,2231,9652,1042,1162,2032,4282,4812,3862,5833,231
Operating margin13.5%12.4%15.2%15.7%16.7%18.0%16.9%16.7%18.1%20.2%19.5%17.0%18.2%18.4%16.4%15.9%17.5%17.8%17.6%21.7%
Interest expense5205535625775916025755675956476637007738408429531,0551,2551,4681,742
Pre-tax incomen/an/a1,0571,1891,3101,3551,4321,5451,5271,7051,6901,4421,5001,4671,5271,6011,6251,5341,7732,499
Income tax294339371437468450484524543581542181128-6.0-70.0-135-146-402-245-170
Effective tax raten/an/a35.1%36.7%35.8%33.2%33.8%33.9%35.5%34.1%32.1%12.6%8.5%-0.4%-4.6%-8.4%-9.0%-26.2%-13.8%-6.8%
Net income5736416817568419059481,0219841,1231,1481,2611,3721,4731,5971,7361,7711,9362,0182,669
Net margin5.7%5.7%7.1%7.3%7.9%8.9%8.7%8.7%8.9%10.1%10.1%10.9%11.9%12.8%11.9%11.3%12.5%14.4%13.8%17.9%
Diluted EPS$1.35$1.46$1.48$1.62$1.72$1.85$1.91$2.03$1.94$2.21$2.25$2.47$2.64$2.79$2.96$3.17$3.21$3.44$3.42$4.29
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Regulated Electric7,7068,4538,7678,5189,0359,4689,2789,5019,6789,7199,5759,80211,20512,12311,44611,14712,16082.9%
Regulated Natural Gas1,8691,7881,8121,5391,8072,1491,6731,5321,6511,7391,8681,6362,1323,0802,6452,2302,45216.7%
All Other73.976.576.373.676.277.576.076.078.079.086.088.094.010711564.057.00.4%
Reconciling Eliminations-3.7-6.7n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Regulated ElectricRegulated Natural GasAll Other
10.3FY201010.9FY201311.1FY201611.5FY201915.3FY202214.7FY2025

$ billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Reconciling Eliminations is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Profit by segment FY2011 to FY2025

The net income each segment reports. Costs Xcel Energy does not charge to a segment are left out, so the segments can add up to more than the company's own net income.

FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
Regulated Electric7898528518919211,0671,0661,1771,2881,4071,4781,6311,6861,8461,87015.4%
Regulated Natural Gas10298.112412910612418218719519023126421923725610.4%
All Other-49.6-44.8-26.02.2-43.0-68.0-100-103-111-124-112-159-134-147-108-189.5%
Regulated ElectricRegulated Natural GasAll Other
841FY2011948FY2013984FY20151,148FY20171,372FY20191,597FY20211,771FY20232,018FY2025

$ million; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
Regulated Electric83%88%
Regulated Natural Gas17%12%
All Otherunder 1%a loss

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has a net income figure. A margin is a segment's net income over its own sales.

Cash flow

FY2007 †FY2008 †FY2009 †FY2010FY2011FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024 †FY2025TTM
Operating cash flow1,6321,6881,9131,8942,4062,0052,5842,6593,0383,0523,1263,1223,2632,8482,1893,9325,3274,6414,0835,077
Capital expenditure2,0970.00.07320.00.03,3953,2003,6833,1953,2443,9574,2255,3694,2444,6385,8547,36410,90812,693
Free cash flow-4651,6881,9131,1612,4062,005-811-540-645-143-118-835-962-2,521-2,055-706-527-2,723-6,825-7,616
Free cash flow margin-4.6%15.1%19.8%11.3%22.6%19.8%-7.4%-4.6%-5.9%-1.3%-1.0%-7.2%-8.3%-21.9%-15.3%-4.6%-3.7%-20.3%-46.5%-51.2%
Cash from investing-2,082-2,156-1,735-2,807-2,248-2,333-3,213-3,117-3,623-3,261-3,296-3,986-4,343-4,740-4,287-4,653-5,926-7,428-10,969-12,704
Cash from financing483671-322906-2053506544305902091689281,1811,7732,1356666172,8376,9819,058
Depreciation and amortisation8068288368729099441,0021,0371,1431,3191,4951,6591,7851,9592,1432,4362,4712,7692,9682,998
Share-based compensation22.925.529.735.845.027.024.632.244.941.057.045.058.073.031.020.025.033.046.046.0
Buybacksn/an/an/a0.00.018.50.00.00.032.03.01.0n/an/an/an/an/an/an/an/a
Dividends paid3793824154324754875145616076817217307918569351,0121,0921,1751,2821,398
Dividend per share$0.91$0.94$0.97$1.00$1.03$1.07$1.11$1.20$1.28$1.36$1.44$1.52$1.62n/an/a$1.95$2.08$2.19$2.28n/a
Diluted shares, weighted433m442m457m463m486m488m497m504m508m509m509m511m520m528m540m547m552m563m589m632m
Shares outstanding at period endn/an/a458m482m486m488m498m506m508m507m508m514m525m537m544m550m555m574m624m635m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007 †FY2008 †FY2009 †FY2010FY2011FY2012FY2013FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024 †FY2025TTM
Funded by
Shareholders' equityn/a6,9647,2838,0848,4828,8749,56610,21410,60111,02111,45512,22213,23914,57515,61216,67517,61619,52223,60925,501
Short-term borrowingsn/a455459n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Debtn/a7,7327,8899,78510,12711,00411,95112,77713,90214,84215,79117,24718,70420,65023,38524,77726,25029,11433,88340,598
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a0.01,5491,3441,1461,0381,038867788738
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a77.073.069.064.062.060.01,2621,277
Other liabilitiesn/a9,8089,6759,51910,88811,26312,39113,96714,31915,29215,78416,51816,87917,31517,63918,63419,11320,47221,82922,603
Total liabilities and equityn/a24,95825,30627,38829,49731,14133,90736,95838,82141,15543,03045,98750,44853,95757,85161,18864,07970,03581,37190,717
Owned
Fixed assetsn/a17,68918,50820,66322,35323,80926,12228,75731,20632,84234,32936,94439,48342,95045,45748,25351,64257,19865,63972,181
Cash and equivalents57.926011610860.782.310780.084.985.083.01472481291661111291792742,483
Receivablesn/a9017297187537187448277257767978608379161,0181,3731,3151,2491,3301,391
Inventoryn/a667566561618536577597609604610548544535631803711666761827
Other assetsn/a5,4425,3865,3375,7125,9956,3576,6976,1976,8487,2117,4889,3369,42710,57910,64810,28210,74313,36713,835
Total assetsn/a24,95825,30627,38829,49731,14133,90736,95838,82141,15543,03045,98750,44853,95757,85161,18864,07970,03581,37190,717
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded2.9%4.9%-1.4%4.5%
Profit growth, compounded7.4%6.5%5.1%39.4%
Return on equity, average10.0%9.8%9.5%8.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Xcel Energy's revenue in fiscal 2025?

Xcel Energy (XEL) reported revenue of $14.7 billion for fiscal 2025, the year ended 31 December 2025, up 9.1% on the year before.

How much did Xcel Energy earn in fiscal 2025?

Net income was $2.0 billion for fiscal 2025, and diluted earnings per share $3.42.

What is Xcel Energy's P/E ratio?

At the close of 6 November 2026, Xcel Energy traded at 18.6 times its earnings over the twelve months to 30 September 2026.

What is Xcel Energy's market cap?

The market cap of Xcel Energy was $50.6 billion at the close of 6 November 2026.

Does Xcel Energy pay a dividend?

Yes. Xcel Energy declared $2.34 a share in dividends over the four quarters to 30 September 2026.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Duke Energy Corp. DUK$99.7 billion18.719.7%28.5%6.8%1.683.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
All 96 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
NextEra Energy Inc. NEE$182.3 billion15.6718.9%30.0%9.6%1.852.8%
Southern Co. SO$107.5 billion21.1311.1%24.7%7.9%1.653.2%
Duke Energy Corp. DUK$99.7 billion18.719.7%28.5%6.8%1.683.3%
Constellation Energy Corp. CEG$88.7 billion24.3410.8%14.7%26.0%0.770.7%
National Grid plc NGG *$86.4 billion19.038.2%30.7%-3.8%1.192.5%
Williams Companies, Inc. WMB$80.1 billion25.2319.9%37.5%8.8%2.023.2%
Enterprise Products Partners L.P. EPD$79.8 billion12.26n/a12.7%21.5%n/an/a
American Electric Power Co. Inc. AEP$68.9 billion20.6710.2%23.4%11.1%1.603.0%
Kinder Morgan, Inc. KMI$66.7 billion18.4911.4%29.0%11.7%1.053.9%
TC Energy Corporation TRP *$64.5 billion26.4412.9%52.7%10.7%2.203.9%
Dominion Energy, Inc. D$60.4 billion22.799.1%22.5%21.5%1.663.9%
Cheniere Energy, Inc. LNG$56.8 billion19.4046.3%28.1%22.5%3.680.8%
Targa Resources Corp. TRGP$56.7 billion23.4164.1%22.5%4.7%5.201.7%
ONEOK Inc. OKE$53.7 billion13.2317.4%14.2%36.8%1.225.0%
Entergy Corp. ETR$52.8 billion25.4110.3%24.6%10.3%1.752.3%
Sempra SRE$51.1 billion16.759.2%n/a-0.9%1.123.3%
Xcel Energy Inc. XEL$50.6 billion18.5710.5%21.7%4.5%1.592.9%
Exelon Corp. EXC$47.2 billion17.708.8%19.8%6.7%1.773.6%
Consolidated Edison Inc. ED$44.0 billion18.988.7%18.7%9.0%1.05n/a
Vistra Corp. VST$41.9 billion21.0440.5%18.5%3.8%3.570.7%
WEC Energy Group, Inc. WEC$38.1 billion21.0412.1%23.5%8.1%1.523.2%
Public Service Enterprise Group Inc. PEG$36.2 billion20.5110.2%21.6%5.3%1.483.6%
Ameren Corp. AEE$31.2 billion19.6211.3%25.2%-0.3%1.552.6%
American Water Works Company, Inc. AWK$29.9 billion26.059.5%37.0%5.4%1.372.3%
Atmos Energy Corp. ATO$29.3 billion20.679.2%37.0%6.5%0.682.0%
Venture Global, Inc. VG$28.8 billion9.0838.9%37.6%100.7%4.880.3%
Pg&E Corp. PCG$28.6 billion9.618.6%20.2%4.1%1.88n/a
DTE Energy Co. DTE$28.2 billion20.5810.8%13.1%12.4%2.253.3%
Cheniere Energy Partners, L.P. CQP$27.8 billionn/an/a34.2%13.2%n/an/a
Centerpoint Energy Inc. CNP$27.0 billion23.259.8%24.4%7.8%2.122.3%
PPL Corp. PPL$27.0 billion20.478.6%24.5%7.5%1.333.1%
Firstenergy Corp. FE$26.9 billion22.339.3%14.9%12.2%2.323.8%
Eversource Energy ES$26.3 billion18.438.7%21.5%4.6%1.764.5%
Edison International EIX$22.8 billion6.3220.3%31.8%2.6%2.335.9%
CMS Energy Corp. CMS$21.7 billion24.719.0%13.8%8.2%2.063.3%
Nisource Inc. NI$21.2 billion22.649.8%27.4%10.0%1.912.7%
Evergy, Inc. EVRG$20.5 billion19.499.7%27.4%8.5%1.473.2%
Alliant Energy Corp. LNT$18.9 billion20.2512.0%22.6%5.4%1.612.9%
NRG Energy, Inc. NRG$18.6 billion22.9217.5%6.1%12.8%4.822.1%
Western Midstream Partners, LP WES$16.5 billion12.91n/a38.5%22.3%n/an/a
Talen Energy Corp. TLN$16.0 billionn/a-16.1%2.0%71.9%6.06n/a
Essential Utilities, Inc. WTRG$13.0 billion22.847.9%72.4%9.2%1.223.2%
Pinnacle West Capital Corp. PNW$12.6 billion19.598.8%20.7%7.5%1.533.5%
DT Midstream, Inc. DTM$11.6 billion24.759.8%49.4%13.4%0.683.0%
OGE Energy Corp. OGE$10.5 billion19.0310.6%25.8%2.4%1.123.4%
Antero Midstream Corp. AM$9.0 billion13.3730.5%81.3%7.3%1.424.7%
Entergy Arkansas, LLC EAI$8.7 billion4.1910.3%24.6%n/a1.7513.4%
Idacorp Inc. IDA$8.6 billion22.519.2%23.5%4.5%0.952.4%
UGI Corp. UGI$7.9 billion12.3912.9%16.2%-0.5%1.354.0%
Kinetik Holdings Inc. KNTK$7.9 billion16.31n/a12.2%15.8%n/a6.6%
Clearway Energy, Inc. CWEN$7.0 billion44.271.7%13.4%9.9%1.665.4%
National Fuel Gas Co. NFG$7.0 billion10.2117.2%40.3%15.1%0.912.9%
Southwest Gas Holdings, Inc. SWX$6.6 billionn/an/an/an/a0.862.8%
Black Hills Corp. BKH$6.5 billion20.418.0%24.3%2.8%1.133.3%
Txnm Energy Inc. TXNM$6.4 billion28.076.3%24.4%10.0%1.652.9%
Ormat Technologies, Inc. ORA$5.7 billion42.745.1%16.7%28.6%0.600.5%
New Jersey Resources Corp. NJR$5.5 billion15.0113.9%24.8%6.4%1.403.5%
Portland General Electric Co. POR$5.5 billion19.736.3%14.4%1.2%1.164.6%
Spire Inc. SR$5.2 billion9.9015.3%19.7%4.1%2.033.7%
NorthWestern Energy Group, Inc. NWE$5.1 billion31.225.7%18.1%10.1%1.273.2%
One Gas, Inc. OGS$5.1 billion17.258.3%21.1%-1.9%1.003.3%
Archrock, Inc. AROC$4.8 billion14.2021.4%n/a3.7%1.473.2%
Kodiak Gas Services, Inc. KGS$4.2 billion49.563.7%27.4%8.2%1.264.6%
MDU Resources Group Inc. MDU$4.0 billion20.026.5%17.1%-0.7%0.873.0%
American States Water Co. AWR$3.6 billion24.6512.6%32.2%11.1%0.792.3%
Chesapeake Utilities Corp. CPK$3.4 billion22.129.0%27.2%13.9%1.042.0%
Avista Corp. AVA$3.4 billion13.498.7%18.9%-1.4%1.194.9%
Otter Tail Corp. OTTR$3.3 billion18.719.2%15.2%0.0%0.652.9%
California Water Service Group CWT$3.2 billion22.797.2%19.4%4.8%0.862.6%
H2O America HTO$3.0 billion24.704.8%20.7%4.2%0.952.8%
MGE Energy Inc. MGEE$3.0 billion18.5510.9%22.5%8.0%0.632.3%
Fervo Energy Co. FRVO$2.7 billionn/an/an/an/a0.08n/a
Northwest Natural Holding Co. NWN$2.2 billion17.138.3%22.9%3.2%1.843.8%
Centuri Holdings, Inc. CTRI$2.1 billion36.326.0%3.1%31.5%0.90n/a
NGL Energy Partners LP NGL$1.9 billionn/an/a1.9%18.0%n/an/a
NextDecade Corp. NEXT$1.6 billionn/a-83.8%n/an/a107.19n/a
Hawaiian Electric Industries Inc. HE$1.5 billion6.3912.8%10.5%13.6%1.28n/a
New Fortress Energy Inc. NFE$1.3 billionn/an/a-84.3%-36.9%n/an/a
Excelerate Energy, Inc. EE$1.2 billion25.252.1%23.8%16.2%0.460.9%
Middlesex Water Co. MSEX$1.1 billion21.639.5%30.5%8.9%0.802.4%
Unitil Corp. UTL$1.0 billion18.318.6%18.6%21.1%1.543.3%
Xplr Infrastructure, LP XIFR$689 million4.601.4%6.4%-1.1%0.57n/a
York Water Co. YORW$530 million19.678.5%37.9%13.7%0.652.8%
Hallador Energy Co. HNRG$476 million505.00-0.5%3.7%6.5%0.23n/a
Genie Energy Ltd. GNE$462 million16.1810.9%5.2%1.7%0.031.7%
Consolidated Water Co. Ltd. CWCO$436 million27.527.2%12.3%-1.2%0.002.1%
Clean Energy Fuels Corp. CLNE$421 millionn/a-13.6%-4.0%6.3%0.39n/a
Montauk Renewables, Inc. MNTK$388 million54.203.0%0.6%4.3%0.57n/a
Artesian Resources Corp. ARTNA$354 million15.049.2%25.0%5.9%0.723.7%
Cadiz Inc. CDZI$300 millionn/a-789.7%-236.1%-21.3%18.65n/a
Summit Midstream Corp. SMC$288 millionn/a-0.6%14.6%20.9%2.07n/a
Pure Cycle Corp. PCYO$262 million17.859.7%37.7%22.9%0.09n/a
RGC Resources Inc. RGCO$241 million17.2911.4%17.3%13.8%1.213.7%
Global Water Resources, Inc. GWRS$219 million81.112.6%12.6%9.8%1.414.1%
Stabilis Solutions, Inc. SLNG$67 millionn/a-15.0%-19.4%-30.3%0.14n/a
Ocean Power Technologies, Inc. OPTT$4 millionn/an/a-1,088.8%-25.8%1.17n/a
15 companies share its SEC industry code (Electric & Other Services Combined); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on XEL

Dividends$2.34 a share over the four quarters to 30 September 2026, a 2.94% yield
Filings38 in twelve months: 27 current reports (8-K), about 18 other events; 4 results of operations; 2 new financial obligation; 2 officer or director change; 1 unregistered sale of equity
Planned insider sales3 Form 144 notices in twelve months, $1.5 million; latest 26 May 2026
Options tapeput/call 5.4 by open interest at the 6 November 2026 close; the straddle prices a 3.9% move to 20 November 2026
13F holders1,299 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading2 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest51.3 million shares short, 9.91 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202629 October 2026EDGAR
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202525 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 202524 April 2025EDGAR
10-K31 December 202427 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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