ETR vs XEL: Entergy and Xcel Energy compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Entergy is the larger company, worth $46.3B, close to Xcel Energy's $46.0B.
- Entergy grew revenue faster over the last year (+12.0% vs -5.1%).
- Entergy keeps more of each dollar of revenue as operating profit (23.1% vs 19.1%).
- On earnings, Xcel Energy is the cheaper stock (21.2x vs 25.8x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ETR | XEL |
|---|---|---|
| Market cap | $46.3B | $46.0B |
| Share price | $102.80 | $73.78 |
| Revenue (last fiscal year) | $12.9B | $14.7B |
| Free cash flow (last fiscal year) | -$2.5B | -$6.8B |
| Revenue growth, last year | +12.0% | -5.1% |
| Revenue growth per year, last 5 fiscal years | +2.5% | +2.2% |
| Operating margin | 23.1% | 19.1% |
| Net margin | 13.4% | 15.3% |
| Return on equity | 10.3% | 9.3% |
| P/E (trailing) | 25.8x | 21.2x |
| Price / free cash flow | — | 8.75x |
| EV / EBITDA | 12.4x | 12.7x |
| FCF growth the price implies | — | — |
| Dividend yield | 2.5% | 3.2% |
| Debt / equity | 3.36x | 2.62x |
| Fundamental grade | D | D |
| Superinvestors holding it | 0 | 5 |
| Insider purchases, last 12 months | 1 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Entergy
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11.7B | $2.1B | 15.7% |
| 2022 | $13.8B | -$2.5B | 14.9% |
| 2023 | $12.1B | -$146M | 21.6% |
| 2024 | $11.9B | -$350M | 22.3% |
| 2025 | $12.9B | -$2.5B | 24.7% |
Xcel Energy
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.4B | -$2.1B | 16.4% |
| 2022 | $15.3B | -$706M | 15.9% |
| 2023 | $14.2B | -$527M | 17.5% |
| 2024 | $13.4B | -$2.7B | 17.8% |
| 2025 | $14.7B | -$6.8B | 17.6% |
Where the revenue comes from
Entergy · by segments, 2025
Utility$12.9B100%
Corporate Segment and Other Operating Segment$59M0%
Xcel Energy · by segments, 2018
Regulated Electric$9.7B84%
Regulated Natural Gas$1.7B15%
All Other$79M1%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ETR in InvestinglyQuestions
Which is bigger, Entergy or Xcel Energy?
Entergy (ETR), at $46.3B against $46.0B.
Is ETR or XEL cheaper?
By trailing P/E, Xcel Energy (21.2x) is cheaper than Entergy (25.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, ETR or XEL?
Entergy: revenue grew +12.0% over the last year, against -5.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.