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?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Xcel Energy XEL CapEx

CapEx at other companies

MDU Resources GroupMDU

$92.41M-0.7%

Nextra EnergyNEE

$3.05B+30.1%

WEC Energy GroupWEC

$817.9M+16.7%

BKH

Black HillsBKH

$267.4M+74.9%

MGE EnergyMGEE

$101.14M+112%

Duke EnergyDUK

$3.28B+9.5%

Other financials

Income statement

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Operating income$754.0M+11.4%

Net income$556.0M+15.1%

EPS (diluted)$0.89+6.0%

Balance sheet

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Cash & equivalents$1.8B+56.7%

Total debt$39.2B+21.2%

Total equity$23.8B+20.2%

Total assets$84.8B+16.6%

Cash flow

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Operating cash flow$1.7B+65.1%

Free cash flow-$1.3B-38.0%

Valuation

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Market cap$51.03B+32.8%

Enterprise value$88.52B+27.0%

P/E24.4×+4.5×

P/S4.4×—

Profitability

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Gross margin66.6%—

Operating margin17.2%—

Net margin11.1%—

FCF margin-9.5%—

Returns & leverage

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Return on equity9.6%-0.7pp

Debt / equity1.6×0.0×

Current ratio0.8×0.0×

Where this comes from

Reported directly by Xcel Energy in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireProductiveAssets.

The official record: Xcel Energy’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

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?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.