What is Xcel Energy's construction work in progress?

Xcel Energy (XEL) reported construction work in progress of $9.44B in Q1 2026.

How has Xcel Energy's construction work in progress changed year-over-year?

Xcel Energy's construction work in progress increased by 58.5% year-over-year, from $5.96B to $9.44B.

What is the long-term trend for Xcel Energy's construction work in progress?

Over 2 years (2023 to 2025), Xcel Energy's construction work in progress has grown at a 67.8% compound annual growth rate (CAGR), from $2.87B to $8.09B.

Xcel Energy XEL Construction work in progress

Construction work in progress at other companies

Duke EnergyDUK

$7.85B-6.2%

UnitilUTL

$92.6M+0.1%

Portland General ElectricPOR

$471M-32.0%

OTT

Otter TailOTTR

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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%

CapEx$3.0B+52.0%

Free cash flow-$1.3B-38.0%

Valuation

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Market cap$50.13B+30.9%

Enterprise value$87.61B+24.8%

P/E24×+5.5×

P/S4.3×—

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:PublicUtilitiesPropertyPlantAndEquipmentConstructionWorkInProgress.

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 construction work in progress?: Xcel Energy (XEL) reported construction work in progress of $9.44B in Q1 2026.
How has Xcel Energy's construction work in progress changed year-over-year?: Xcel Energy's construction work in progress increased by 58.5% year-over-year, from $5.96B to $9.44B.
What is the long-term trend for Xcel Energy's construction work in progress?: Over 2 years (2023 to 2025), Xcel Energy's construction work in progress has grown at a 67.8% compound annual growth rate (CAGR), from $2.87B to $8.09B.