Question 1

What is Xcel Energy's P/E ratio?

Accepted Answer

Xcel Energy (XEL) P/E ratio is 23.7× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Xcel Energy?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Xcel Energy specifically, the relevant sector benchmark is the current sector median of 21.4×.

Question 5

Is Xcel Energy's P/E ratio high or low?

Accepted Answer

Xcel Energy's P/E ratio of 23.7× is above its own 5-year average of 20.9× and above the sector median of 21.4×. That places the current reading at the 81th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Xcel Energy's historical P/E ratio range?

Accepted Answer

In the available daily series, Xcel Energy (XEL) P/E ratio has ranged from a low of 6.7× in 2004 to a high of 26.0× in 2019. The 5-year average is 20.9× and the 5-year median is 21.0×.

Question 7

What was Xcel Energy's P/E ratio in 2025?

Accepted Answer

Xcel Energy (XEL) P/E ratio at the end of 2025 was 21.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Xcel Energy's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$43.95B	$2.02B	21.8×	+1.7×	Dec 31, 2025
2024	$38.82B	$1.94B	20.1×	+0.7×	Dec 31, 2024
2023	$34.30B	$1.77B	19.4×	-2.8×	Dec 31, 2023
2022	$38.49B	$1.74B	22.2×	-0.8×	Dec 31, 2022
2021	$36.63B	$1.60B	22.9×	-1.1×	Dec 31, 2021
2020	$35.34B	$1.47B	24.0×	-0.3×	Dec 31, 2020
2019	$33.33B	$1.37B	24.3×	+4.2×	Dec 31, 2019
2018	$25.37B	$1.26B	20.1×	-1.2×	Dec 31, 2018
2017	$24.49B	$1.15B	21.3×	+2.9×	Dec 31, 2017
2016	$20.70B	$1.12B	18.4×	-0.1×	Dec 31, 2016
2015	$18.25B	$984.49M	18.5×	+0.7×	Dec 31, 2015
2014	$18.19B	$1.02B	17.8×	+3.1×	Dec 31, 2014
2013	$13.93B	$948.23M	14.7×	+0.3×	Dec 31, 2013
2012	$13.05B	$905.23M	14.4×	-1.7×	Dec 31, 2012
2011	$13.44B	$834.38M	16.1×	+1.0×	Dec 31, 2011
2010	$11.39B	$751.59M	15.2×	+0.7×	Dec 31, 2010
2009	$9.74B	$674.53M	14.4×	+1.3×	Dec 31, 2009
2008	$8.44B	$641.30M	13.2×	-4.0×	Dec 31, 2008
2007	$9.70B	$564.80M	17.2×	+0.6×	Dec 31, 2007
2006	$9.41B	$566.45M	16.6×	+1.9×	Dec 31, 2006
2005	$7.46B	$508.73M	14.7×	-6.1×	Dec 31, 2005
2004	$7.30B	$351.72M	20.8×	+9.8×	Dec 31, 2004
2003	$6.77B	$619.21M	10.9×	—	Dec 31, 2003
2002	$4.37B	−$2.22B	—	—	Dec 31, 2002
2001	$9.82B	$790.73M	12.4×	—	Dec 31, 2001


American States Water (AWR)	22.1×
Middlesex Water (MSEX)	21.8×
Evergy (EVRG)	21.4×
H2O America (HTO)	21.2×
CMS Energy (CMS)	21.1×
Essential Utilities (WTRG)	20.5×
Ameren (AEE)	19.9×
Duke Energy (DUK)	19.8×
MGE Energy (MGEE)	19.8×
American Electric Power Company (AEP)	19.4×
Consolidated Edison (ED)	19.1×
Pinnacle West Capital (PNW)	18.7×
Dominion Energy (D)	18.3×
Black Hills (BKH)	18.2×
Exelon (EXC)	18.1×
Public Service Enterprise Group (PEG)	17.8×
Northwest Natural Holding (NWN)	17.7×
New Jersey Resources (NJR)	16.2×
Avista (AVA)	16.0×
Eversource Energy (ES)	14.9×
Artesian Resources (ARTNA)	14.1×
PG&E (PCG)	13.1×
UGI (UGI)	12.2×
Edison International (EIX)	7.6×
AES (AES)	7.5×

P/E Ratio for Xcel Energy (XEL)

P/E Ratio daily chart for Xcel Energy (XEL)

Historical P/E Ratio for Xcel Energy (XEL) from 2001 to 2025

About P/E Ratio at Xcel Energy (XEL)

Xcel Energy P/E Ratio by Year

Xcel Energy P/E Ratio 2025: 21.8×

Xcel Energy P/E Ratio 2024: 20.1×

Xcel Energy P/E Ratio 2023: 19.4×

Xcel Energy P/E Ratio 2022: 22.2×

Xcel Energy P/E Ratio 2021: 22.9×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Xcel Energy (XEL) Key Financials

P/E Ratio daily chart for Xcel Energy (XEL)

Historical P/E Ratio for Xcel Energy (XEL) from 2001 to 2025

About P/E Ratio at Xcel Energy (XEL)

Xcel Energy P/E Ratio by Year

Xcel Energy P/E Ratio 2025: 21.8×

Xcel Energy P/E Ratio 2024: 20.1×

Xcel Energy P/E Ratio 2023: 19.4×

Xcel Energy P/E Ratio 2022: 22.2×

Xcel Energy P/E Ratio 2021: 22.9×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Xcel Energy's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Xcel Energy?

+Is Xcel Energy's P/E ratio high or low?

+What is Xcel Energy's historical P/E ratio range?

+What was Xcel Energy's P/E ratio in 2025?

+Why does Xcel Energy's P/E ratio change over time?

Xcel Energy (XEL) Key Financials