Xcel Energy
Xcel Energy is a leading U.S. regulated utility holding company that provides a comprehensive portfolio of energy-related products and services to millions of customers across eight states. The company operates through four primary utility subsidiaries, managing an integrated system of electric generation, transmission, and distribution alongside natural gas transportation and storage infrastructure. Its core value proposition centers on leading the clean energy transition by retiring coal assets and expanding renewable energy capacity while maintaining customer affordability and grid reliability.
Financials
Based on Q1 2026 filing
Revenue
View metricGross Profit
View metricNet Income
View metricOperating Cash Flow
View metricFree Cash Flow
View metricEPS (Diluted)
View metricBusiness Segments
Electric Operations
primaryThis segment involves the generation, purchase, transmission, and distribution of electricity. It utilizes a diverse energy mix including wind, nuclear, solar, natural gas, and coal to serve residential, commercial, and industrial customers.
Retail Electric Service, Wholesale Electric Service, Transmission Services, Renewable Energy Programs, Clean Transportation Programs
Residential, Commercial and Industrial (C&I), Wholesale Customers, Public Authorities
Natural Gas Operations
majorThis segment focuses on the purchase, transportation, and distribution of natural gas to retail and transport customers. It includes the management of interstate pipelines and significant underground storage capacity to ensure seasonal supply reliability.
Retail Natural Gas Sales, Natural Gas Transportation, Natural Gas Storage Services
Residential, Commercial and Industrial (C&I), Transport Customers
Segment Financials
Regulated Electric Segment — Electric
View metricRegulated Electric Segment — Electric fuel and purchased power
View metricRegulated Electric Segment — Operating and maintenance expenses
View metricRegulated Natural Gas Segment — Natural gas
View metricRegulated Natural Gas Segment — Cost of natural gas sold and transported
View metricRegulated Natural Gas Segment — Operating and maintenance expenses
View metricBusiness Overview
Competitive Position
Xcel Energy holds a dominant, regulated market position within its service territories, characterized by high barriers to entry and state-granted franchises. It is a first-mover in large-scale coal retirement and renewable energy transition among major U.S. investor-owned utilities.
Geographies
Minnesota, Colorado, Texas, New Mexico, Wisconsin, North Dakota, South Dakota, Michigan
Customer Segments
Residential Consumers, Industrial Manufacturers, Data Centers, Municipalities
Upstream Dependencies
Uranium Producers, Natural Gas Suppliers, Wind and Solar Equipment Manufacturers, Independent Power Producers (IPPs)
Downstream Customers
Residential Households, Large Industrial Facilities, Data Center Operators, Electric Vehicle Owners
Competitors & Partners
Competitors
Similar Companies
Entergy
ETR
Dominion Energy
D
Vistra
VST
American Electric Power
AEP
Constellation Energy
CEG
Southern Company
SO
GE Vernova
GEV
Quanta Services
PWR
Kinder Morgan
KMI
Eaton Corporation
ETN
Oneok
OKE
Targa Resources
TRGP
Devon Energy
DVN
Williams Companies
WMB
Caterpillar
CAT
Enterprise Products Partners
EPD
MPLX
MPLX
EOG Resources
EOG
Partners
Kinder Morgan
KMI
Joint venture partner in WYCO for natural gas pipelines and storage
Tri-State Generation and Transmission Association
Co-owner of Craig Station coal unit
Midcontinent Independent System Operator, Inc.
Regional transmission organization and market operator
Southwest Power Pool, Inc.
Regional transmission organization and market operator
Subsidiaries
Northern States Power Company (Minnesota)
Regulated utility serving MN, ND, and SD
Northern States Power Company (Wisconsin)
Regulated utility serving WI and MI
Public Service Company of Colorado
Regulated utility serving Colorado
Southwestern Public Service Co.
Regulated utility serving TX and NM
WestGas InterState, Inc.
Interstate natural gas pipeline company
Eloigne Company
Nonregulated subsidiary
Xcel Energy FAQ
Common questions about Xcel Energy
Xcel Energy is a leading U.S. regulated utility holding company that provides a comprehensive portfolio of energy-related products and services to millions of customers across eight states. The company operates through four primary utility subsidiaries, managing an integrated system of electric generation, transmission, and distribution alongside natural gas transportation and storage infrastructure. Its core value proposition centers on leading the clean energy transition by retiring coal assets and expanding renewable energy capacity while maintaining customer affordability and grid reliability.
Xcel Energy (XEL) has a market capitalization of $49.9B and trades on NASDAQ.
Xcel Energy generated $11.6B in trailing twelve-month revenue with net income of $2.1B, representing a net margin of 18.0%, with free cash flow of -$7.2B. These figures are based on the Q3 2019 filing.
Xcel Energy's key competitors include Duke Energy Corporation, NextEra Energy, Inc., Entergy Corporation, and others. These companies compete in similar markets and product categories.
Xcel Energy has approximately 11,311 employees.