# Xcel Energy, Inc. (XEL) — Stock CV

Xcel Energy, Inc. is a $46.1B utility company. Revenue grew 4.7% over the last year, it keeps 15¢ of every dollar of sales as profit, and it carries $33.1B of net debt. It trades at 20.2× earnings — around the middle of its own history.

> Xcel Energy manages utilities serving 3.9 million electric customers and 2.2 million natural gas customers in eight states.

## Identity

- **Ticker**: XEL
- **Sector**: Utilities
- **Industry**: Electric & Other Services Combined
- **Headquarters**: MINNEAPOLIS, MN
- **Employees**: 11 534
- **Website**: https://www.xcelenergy.com
- **Market cap**: $46.1B
- **Last price**: $73.78
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $14.6B
- **Net income**: $2.23B
- **Free cash flow**: -$7.69B
- **Net debt**: $33.1B
- **P/E**: 20.2
- **Revenue growth (YoY)**: 4.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 52 |
| Growth | 44 |
| Profitability | 57 |
| Health | 24 |
| Quality | 60 |
| Moat | 31 |

## Qualifications (beginner checklist) — 7 of 11 passed

- [x] Revenue growing — +4.7% YoY
- [x] Profitable — $2.23B TTM
- [x] Profit growing — +2.6% YoY
- [ ] Generates cash — -$7.69B TTM
- [ ] Debt under control — current ratio 0.70
- [x] Established company — $46.1B market cap
- [ ] Not printing shares — +11.6% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.6 — distress
- [x] Pays a dividend — yield 3.02%
- [x] Valuation not extreme — P/E 20.2

## Experience (career milestones)

- **FY2025** — Best year on record: $2.02B net income
- **2018** — Xcel Energy became the first major US utility to pledge to go carbon-free, aiming for 80% carbon…
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $11.1B in first reported year
- **1995** — Eventually, the company merged with SPS to form New Century Energies (NCE) in 1995
- **1943** — Originally a subsidiary of Cities Service Company, it became an independent autonomous operation in November 1943
- **1924** — It had acquired most of the electric companies in northern and central Colorado
- **1910** — Byllesby began building his utility holding company across the Northwestern region of the US, he renamed it the…

## Strengths

- High gross margin (40.4%)

## Watch-outs

- Negative free cash flow (-$7.7B)
- Altman Z-Score 0.64 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $13.4B | $1.60B | -$2.06B |
| FY2022 | $15.3B | $1.74B | -$706M |
| FY2023 | $14.2B | $1.77B | -$527M |
| FY2024 | $13.4B | $1.94B | -$2.72B |
| FY2025 | $14.7B | $2.02B | -$6.83B |

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Source: https://stockcv.com/XEL — derived from company filings; may be delayed or incomplete. Information, not investment advice.