Xcel EnergyXEL +1.13%78 Piotroski F-Score is 4 as of Jun. 24, 2026, which is 20% below its 10-year median of 5.00. GuruFocus rates XEL with a GF Score™ of 78/100 and a GF Value™ of $67.31 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 490 Utilities - Regulated companies, Xcel Energy ranks worse than 77.35% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Xcel Energy has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Xcel Energy's Piotroski F-Score or its related term are showing as below:
XEL'
s Piotroski F-Score Range Over the Past 10 Years
Min: 3 Med: 5 Max: 7
Current: 4
During the past 13 years, the highest Piotroski F-Score of Xcel Energy was 7. The lowest was 3. And the median was 5.
Xcel Energy (NAS:XEL) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Xcel Energy Piotroski F-Score Related Terms
Xcel Energy Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Xcel Energy's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Electric subindustry, Xcel Energy's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Xcel Energy Piotroski F-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Xcel Energy's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Xcel Energy's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Xcel Energy's current Net Income (TTM) was 2,091.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Xcel Energy's return on assets of this year was 0.02874266. Xcel Energy's return on assets of last year was 0.02944271.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Xcel Energy's gearing of this year was 0.46526908. Xcel Energy's gearing of last year was 0.43817386.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Xcel Energy's current ratio of this year was 0.77029859. Xcel Energy's current ratio of last year was 0.79632102.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Xcel Energy's number of shares in issue this year was 626. Xcel Energy's number of shares in issue last year was 577.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Xcel Energy's gross margin of this year was 0.4763934. Xcel Energy's gross margin of last year was 0.45466491.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Xcel Energy's asset turnover of this year was 0.20321929. Xcel Energy's asset turnover of last year was 0.20885873.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
0
+
1
+
0
+
0
+
0
+
1
+
0
=
4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Xcel Energy has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Xcel Energy (XEL) has a Piotroski F-Score of 4 as of Jun. 24, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Xcel Energy and its competitors. This is 20% below median its historical median of 5.00. Over the past decade, Xcel Energy's Piotroski F-Score has ranged from 3.00 to 7.00. According to the industry distribution chart, Xcel Energy ranks #379 out of 490 companies in the Utilities - Regulated industry, placing it in the top 77.3%.
Is Xcel Energy's Piotroski F-Score too high?
Xcel Energy's current Piotroski F-Score of 4 is 20% below median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 7.00. The Utilities - Regulated industry median Piotroski F-Score is 6.00. Xcel Energy's value of 4 is 33.3% below this industry median. Based on the distribution chart, Xcel Energy ranks #379 out of 490 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Xcel Energy has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Xcel Energy's Piotroski F-Score compare to ETR and EXC?
According to the Utilities - Regulated industry distribution chart, Xcel Energy ranks #379 out of 490 companies for Piotroski F-Score. This places Xcel Energy in the lower half of its industry. The industry median Piotroski F-Score is 6.00. Xcel Energy's value of 4 is 33.3% below this benchmark. Historically, Xcel Energy's own Piotroski F-Score has ranged from 3.00 to 7.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 6.00, Xcel Energy has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Utilities - Regulated company?
The median Piotroski F-Score among Utilities - Regulated companies is 6.00, based on 490 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Xcel Energy's current Piotroski F-Score of 4 is 33.3% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Xcel Energy and its competitors. For the Utilities - Regulated industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Xcel Energy's current Piotroski F-Score is 4, which is 20% below median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xcel Energy stock overvalued right now?
Based on GuruFocus' analysis, Xcel Energy (XEL) is currently considered Modestly Overvalued. The stock's GF Value™ is $67.31, compared to a current price of $81.24 — trading 20.7% above its estimated fair value. The current Piotroski F-Score is 4, which is 20% below median its 10-year median of 5.00 and 33.3% below the Utilities - Regulated industry median of 6.00. Xcel Energy's overall GF Score™ is 78/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Xcel Energy (XEL), the current Piotroski F-Score is 4 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Xcel Energy (XEL) Overvalued in 2026?
Based on GuruFocus' analysis, Xcel Energy stock appears to be overvalued.
The current stock price of $81.24 is trading 20.7% above its estimated GF Value™ of $67.31.
GuruFocus considers Xcel Energy to be Modestly Overvalued.
Key valuation signals for XEL:
Piotroski F-Score: 4 (20% below median its 10-year median of 5.00)
GF Value™: $67.31 vs. price of $81.24 (20.7% above fair value)
Industry Position: 33.3% below the Utilities - Regulated median (#379 of 490)
No single metric tells the full story. See the XEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Xcel Energy manages utilities serving 3.9 million electric customers and 2.2 million natural gas customers in eight states. Its utilities are Northern States Power, which serves customers in Minnesota, North Dakota, South Dakota, Wisconsin, and Michigan; Public Service Company of Colorado; and Southwestern Public Service Company, which serves customers in Texas and New Mexico. It is one of the largest renewable energy suppliers in the US, with more than half of its electricity sales coming from carbon-free energy.
78GF Score
Get the complete analysis for XEL
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XEL has been successfully added to your 
