Investing
CapEx
Xcel Energy CapEx decreased by 12.1% to $3.02B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 52.0%, from $1.99B to $3.02B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 26.6% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2013
Last reportedQ1 2026
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
Metric ID:
capital_expendituresHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $943.00M | $1.07B | $1.21B | $942.00M | $1.10B | $1.29B | $1.31B | $1.27B | $1.33B | $1.64B | $1.61B | $1.54B | $1.83B | $1.78B | $2.22B | $1.99B | $2.43B | $3.06B | $3.44B | $3.02B |
| QoQ Change | — | +12.9% | +13.8% | -22.3% | +16.6% | +17.0% | +2.2% | -3.7% | +5.5% | +23.0% | -1.6% | -4.8% | +19.1% | -2.8% | +24.6% | -10.3% | +22.1% | +25.9% | +12.5% | -12.1% |
| YoY Change | — | — | — | — | +16.4% | +20.7% | +8.3% | +34.3% | +21.5% | +27.7% | +22.9% | +21.5% | +37.3% | +8.4% | +37.4% | +29.3% | +32.6% | +71.7% | +55.1% | +52.0% |
Range$942.00M – $3.44B
CAGR+27.8%
Avg YoY Growth+31.1%
Median YoY Growth+28.5%
CapEx at Other Companies
Frequently Asked Questions
- What is Xcel Energy's capex?
- Xcel Energy (XEL) reported capex of $3.02B in Q1 2026.
- How has Xcel Energy's capex changed year-over-year?
- Xcel Energy's capex increased by 52.0% year-over-year, from $1.99B to $3.02B.
- What is the long-term trend for Xcel Energy's capex?
- Over 4 years (2021 to 2025), Xcel Energy's capex has grown at a 26.6% compound annual growth rate (CAGR), from $4.24B to $10.91B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.