Intrinsic value of Xcel Energy Inc. - XEL

Previous Close

$64.80

  Intrinsic Value

$7.10

stock screener

  Rating & Target

str. sell

-89%

Previous close

$64.80

 
Intrinsic value

$7.10

 
Up/down potential

-89%

 
Rating

str. sell

We calculate the intrinsic value of XEL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 33.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  3.00
  3.20
  3.38
  3.54
  3.69
  3.82
  3.94
  4.04
  4.14
  4.23
  4.30
  4.37
  4.44
  4.49
  4.54
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
  4.91
Revenue, $m
  11,883
  12,263
  12,678
  13,127
  13,611
  14,131
  14,687
  15,281
  15,914
  16,586
  17,300
  18,056
  18,857
  19,704
  20,599
  21,544
  22,541
  23,593
  24,702
  25,870
  27,101
  28,397
  29,761
  31,196
  32,706
  34,294
  35,965
  37,721
  39,568
  41,509
Variable operating expenses, $m
  9,566
  9,872
  10,206
  10,567
  10,957
  11,375
  11,823
  12,301
  12,810
  13,352
  13,926
  14,535
  15,180
  15,861
  16,582
  17,343
  18,146
  18,992
  19,885
  20,826
  21,816
  22,859
  23,957
  25,113
  26,328
  27,607
  28,951
  30,365
  31,852
  33,414
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  9,566
  9,872
  10,206
  10,567
  10,957
  11,375
  11,823
  12,301
  12,810
  13,352
  13,926
  14,535
  15,180
  15,861
  16,582
  17,343
  18,146
  18,992
  19,885
  20,826
  21,816
  22,859
  23,957
  25,113
  26,328
  27,607
  28,951
  30,365
  31,852
  33,414
Operating income, $m
  2,317
  2,391
  2,472
  2,560
  2,654
  2,756
  2,864
  2,980
  3,103
  3,234
  3,373
  3,521
  3,677
  3,842
  4,017
  4,201
  4,396
  4,601
  4,817
  5,045
  5,285
  5,537
  5,803
  6,083
  6,378
  6,687
  7,013
  7,356
  7,716
  8,094
EBITDA, $m
  4,025
  4,153
  4,294
  4,446
  4,610
  4,786
  4,974
  5,175
  5,390
  5,617
  5,859
  6,115
  6,386
  6,673
  6,976
  7,296
  7,634
  7,990
  8,366
  8,762
  9,178
  9,617
  10,079
  10,565
  11,077
  11,615
  12,180
  12,775
  13,401
  14,058
Interest expense (income), $m
  592
  942
  995
  1,055
  1,120
  1,191
  1,268
  1,350
  1,438
  1,531
  1,631
  1,737
  1,850
  1,970
  2,096
  2,230
  2,371
  2,520
  2,678
  2,844
  3,019
  3,204
  3,398
  3,602
  3,818
  4,044
  4,283
  4,534
  4,798
  5,075
  5,366
Earnings before tax, $m
  1,376
  1,397
  1,417
  1,439
  1,463
  1,488
  1,514
  1,542
  1,572
  1,603
  1,636
  1,671
  1,708
  1,746
  1,787
  1,830
  1,875
  1,923
  1,973
  2,026
  2,081
  2,139
  2,201
  2,265
  2,333
  2,404
  2,479
  2,558
  2,641
  2,728
Tax expense, $m
  371
  377
  383
  389
  395
  402
  409
  416
  424
  433
  442
  451
  461
  471
  482
  494
  506
  519
  533
  547
  562
  578
  594
  612
  630
  649
  669
  691
  713
  736
Net income, $m
  1,004
  1,020
  1,035
  1,051
  1,068
  1,086
  1,105
  1,126
  1,147
  1,170
  1,194
  1,220
  1,246
  1,275
  1,305
  1,336
  1,369
  1,404
  1,440
  1,479
  1,519
  1,562
  1,607
  1,654
  1,703
  1,755
  1,810
  1,867
  1,928
  1,991

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  47,343
  48,858
  50,509
  52,298
  54,227
  56,298
  58,515
  60,881
  63,400
  66,079
  68,922
  71,936
  75,126
  78,501
  82,067
  85,832
  89,806
  93,996
  98,414
  103,069
  107,972
  113,134
  118,568
  124,286
  130,302
  136,630
  143,285
  150,283
  157,639
  165,373
Adjusted assets (=assets-cash), $m
  47,343
  48,858
  50,509
  52,298
  54,227
  56,298
  58,515
  60,881
  63,400
  66,079
  68,922
  71,936
  75,126
  78,501
  82,067
  85,832
  89,806
  93,996
  98,414
  103,069
  107,972
  113,134
  118,568
  124,286
  130,302
  136,630
  143,285
  150,283
  157,639
  165,373
Revenue / Adjusted assets
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
  0.251
Average production assets, $m
  36,707
  37,882
  39,162
  40,549
  42,044
  43,650
  45,369
  47,203
  49,157
  51,234
  53,438
  55,775
  58,248
  60,865
  63,630
  66,549
  69,630
  72,879
  76,304
  79,913
  83,715
  87,717
  91,930
  96,364
  101,028
  105,935
  111,094
  116,520
  122,224
  128,220
Working capital, $m
  -95
  -98
  -101
  -105
  -109
  -113
  -117
  -122
  -127
  -133
  -138
  -144
  -151
  -158
  -165
  -172
  -180
  -189
  -198
  -207
  -217
  -227
  -238
  -250
  -262
  -274
  -288
  -302
  -317
  -332
Total debt, $m
  18,422
  19,534
  20,746
  22,059
  23,475
  24,995
  26,622
  28,358
  30,208
  32,174
  34,261
  36,473
  38,815
  41,292
  43,909
  46,673
  49,589
  52,665
  55,908
  59,325
  62,923
  66,712
  70,701
  74,898
  79,314
  83,958
  88,843
  93,979
  99,379
  105,056
Total liabilities, $m
  34,750
  35,862
  37,074
  38,387
  39,803
  41,323
  42,950
  44,686
  46,536
  48,502
  50,589
  52,801
  55,143
  57,620
  60,237
  63,001
  65,917
  68,993
  72,236
  75,653
  79,251
  83,040
  87,029
  91,226
  95,642
  100,286
  105,171
  110,307
  115,707
  121,384
Total equity, $m
  12,593
  12,996
  13,436
  13,911
  14,424
  14,975
  15,565
  16,194
  16,865
  17,577
  18,333
  19,135
  19,984
  20,881
  21,830
  22,831
  23,888
  25,003
  26,178
  27,416
  28,720
  30,094
  31,539
  33,060
  34,660
  36,344
  38,114
  39,975
  41,932
  43,989
Total liabilities and equity, $m
  47,343
  48,858
  50,510
  52,298
  54,227
  56,298
  58,515
  60,880
  63,401
  66,079
  68,922
  71,936
  75,127
  78,501
  82,067
  85,832
  89,805
  93,996
  98,414
  103,069
  107,971
  113,134
  118,568
  124,286
  130,302
  136,630
  143,285
  150,282
  157,639
  165,373
Debt-to-equity ratio
  1.460
  1.500
  1.540
  1.590
  1.630
  1.670
  1.710
  1.750
  1.790
  1.830
  1.870
  1.910
  1.940
  1.980
  2.010
  2.040
  2.080
  2.110
  2.140
  2.160
  2.190
  2.220
  2.240
  2.270
  2.290
  2.310
  2.330
  2.350
  2.370
  2.390
Adjusted equity ratio
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266
  0.266

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,004
  1,020
  1,035
  1,051
  1,068
  1,086
  1,105
  1,126
  1,147
  1,170
  1,194
  1,220
  1,246
  1,275
  1,305
  1,336
  1,369
  1,404
  1,440
  1,479
  1,519
  1,562
  1,607
  1,654
  1,703
  1,755
  1,810
  1,867
  1,928
  1,991
Depreciation, amort., depletion, $m
  1,707
  1,762
  1,821
  1,886
  1,956
  2,030
  2,110
  2,195
  2,286
  2,383
  2,485
  2,594
  2,709
  2,831
  2,960
  3,095
  3,239
  3,390
  3,549
  3,717
  3,894
  4,080
  4,276
  4,482
  4,699
  4,927
  5,167
  5,420
  5,685
  5,964
Funds from operations, $m
  2,711
  2,781
  2,856
  2,937
  3,024
  3,116
  3,216
  3,321
  3,434
  3,553
  3,680
  3,814
  3,956
  4,106
  4,264
  4,431
  4,607
  4,793
  4,989
  5,196
  5,413
  5,642
  5,882
  6,136
  6,402
  6,682
  6,977
  7,287
  7,613
  7,955
Change in working capital, $m
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -6
  -6
  -6
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -13
  -13
  -14
  -15
  -16
Cash from operations, $m
  2,714
  2,784
  2,859
  2,940
  3,027
  3,121
  3,220
  3,326
  3,439
  3,559
  3,685
  3,820
  3,962
  4,112
  4,271
  4,439
  4,615
  4,802
  4,998
  5,205
  5,423
  5,652
  5,893
  6,147
  6,414
  6,695
  6,990
  7,301
  7,627
  7,970
Maintenance CAPEX, $m
  -1,658
  -1,707
  -1,762
  -1,821
  -1,886
  -1,956
  -2,030
  -2,110
  -2,195
  -2,286
  -2,383
  -2,485
  -2,594
  -2,709
  -2,831
  -2,960
  -3,095
  -3,239
  -3,390
  -3,549
  -3,717
  -3,894
  -4,080
  -4,276
  -4,482
  -4,699
  -4,927
  -5,167
  -5,420
  -5,685
New CAPEX, $m
  -1,070
  -1,175
  -1,280
  -1,387
  -1,495
  -1,606
  -1,719
  -1,834
  -1,954
  -2,077
  -2,204
  -2,337
  -2,474
  -2,616
  -2,765
  -2,919
  -3,081
  -3,249
  -3,425
  -3,609
  -3,801
  -4,003
  -4,213
  -4,434
  -4,664
  -4,906
  -5,160
  -5,426
  -5,704
  -5,996
Cash from investing activities, $m
  -2,728
  -2,882
  -3,042
  -3,208
  -3,381
  -3,562
  -3,749
  -3,944
  -4,149
  -4,363
  -4,587
  -4,822
  -5,068
  -5,325
  -5,596
  -5,879
  -6,176
  -6,488
  -6,815
  -7,158
  -7,518
  -7,897
  -8,293
  -8,710
  -9,146
  -9,605
  -10,087
  -10,593
  -11,124
  -11,681
Free cash flow, $m
  -14
  -97
  -183
  -268
  -354
  -441
  -529
  -619
  -710
  -805
  -902
  -1,002
  -1,106
  -1,213
  -1,324
  -1,440
  -1,561
  -1,686
  -1,817
  -1,953
  -2,095
  -2,244
  -2,400
  -2,562
  -2,732
  -2,910
  -3,097
  -3,292
  -3,496
  -3,710
Issuance/(repayment) of debt, $m
  985
  1,112
  1,212
  1,313
  1,416
  1,520
  1,627
  1,737
  1,850
  1,966
  2,087
  2,212
  2,342
  2,477
  2,617
  2,764
  2,917
  3,076
  3,243
  3,417
  3,599
  3,789
  3,988
  4,197
  4,416
  4,645
  4,885
  5,136
  5,400
  5,676
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  29
  66
Cash from financing (excl. dividends), $m  
  985
  1,112
  1,212
  1,313
  1,416
  1,520
  1,627
  1,737
  1,850
  1,966
  2,087
  2,212
  2,342
  2,477
  2,617
  2,764
  2,917
  3,076
  3,243
  3,417
  3,599
  3,789
  3,988
  4,197
  4,416
  4,645
  4,885
  5,136
  5,429
  5,742
Total cash flow (excl. dividends), $m
  971
  1,015
  1,029
  1,045
  1,062
  1,079
  1,098
  1,118
  1,139
  1,161
  1,185
  1,210
  1,236
  1,264
  1,293
  1,324
  1,356
  1,390
  1,426
  1,464
  1,503
  1,545
  1,589
  1,635
  1,684
  1,735
  1,788
  1,845
  1,933
  2,032
Retained Cash Flow (-), $m
  -371
  -403
  -439
  -476
  -513
  -551
  -590
  -629
  -670
  -713
  -756
  -802
  -849
  -898
  -949
  -1,002
  -1,057
  -1,115
  -1,175
  -1,238
  -1,304
  -1,373
  -1,445
  -1,521
  -1,600
  -1,683
  -1,770
  -1,861
  -1,957
  -2,057
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  600
  612
  590
  569
  549
  529
  509
  489
  469
  449
  429
  408
  387
  366
  344
  322
  299
  275
  251
  225
  199
  172
  143
  114
  83
  51
  18
  -17
  -24
  -25
Discount rate, %
  8.50
  8.93
  9.37
  9.84
  10.33
  10.85
  11.39
  11.96
  12.56
  13.19
  13.85
  14.54
  15.26
  16.03
  16.83
  17.67
  18.55
  19.48
  20.46
  21.48
  22.55
  23.68
  24.86
  26.11
  27.41
  28.78
  30.22
  31.73
  33.32
  34.99
PV of cash for distribution, $m
  553
  515
  451
  391
  336
  285
  239
  198
  162
  130
  103
  80
  61
  46
  33
  24
  17
  11
  7
  5
  3
  2
  1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  99.9

Xcel Energy Inc. is a public utility holding company. The Company's operations include the activity of four utility subsidiaries that serve electric and natural gas customers in eight states. The Company's segments include regulated electric utility, regulated natural gas utility and all other. The Company's utility subsidiaries include NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado (PSCo) and Southwestern Public Service Co. (SPS), which serve customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Along with WYCO Development LLC (WYCO), a joint venture formed with Colorado Interstate Gas Company, LLC (CIG) to develop and lease natural gas pipelines storage and compression facilities, and WestGas InterState, Inc. (WGI), an interstate natural gas pipeline company, these companies comprise the regulated utility operations.

FINANCIAL RATIOS  of  Xcel Energy Inc. (XEL)

Valuation Ratios
P/E Ratio 29.3
Price to Sales 3
Price to Book 3
Price to Tangible Book
Price to Cash Flow 10.8
Price to Free Cash Flow -161.1
Growth Rates
Sales Growth Rate 0.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -11.6%
Cap. Spend. - 3 Yr. Gr. Rate -0.8%
Financial Strength
Quick Ratio 0
Current Ratio 0.3
LT Debt to Equity 128.8%
Total Debt to Equity 134.7%
Interest Coverage 4
Management Effectiveness
Return On Assets 3.8%
Ret/ On Assets - 3 Yr. Avg. 3.7%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 4.4%
Return On Equity 10.4%
Return On Equity - 3 Yr. Avg. 10.1%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 32.6%
EBITDA Margin - 3 Yr. Avg. 29.4%
Operating Margin 19.9%
Oper. Margin - 3 Yr. Avg. 18.2%
Pre-Tax Margin 15.4%
Pre-Tax Margin - 3 Yr. Avg. 14.1%
Net Profit Margin 10.1%
Net Profit Margin - 3 Yr. Avg. 9.3%
Effective Tax Rate 34.1%
Eff/ Tax Rate - 3 Yr. Avg. 34.5%
Payout Ratio 60.6%

XEL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the XEL stock intrinsic value calculation we used $11537 million for the last fiscal year's total revenue generated by Xcel Energy Inc.. The default revenue input number comes from 0001 income statement of Xcel Energy Inc.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our XEL stock valuation model: a) initial revenue growth rate of 3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.5%, whose default value for XEL is calculated based on our internal credit rating of Xcel Energy Inc., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Xcel Energy Inc..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of XEL stock the variable cost ratio is equal to 80.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for XEL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Xcel Energy Inc..

Corporate tax rate of 27% is the nominal tax rate for Xcel Energy Inc.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the XEL stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for XEL are equal to 308.9%.

Life of production assets of 21.5 years is the average useful life of capital assets used in Xcel Energy Inc. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for XEL is equal to -0.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $12222 million for Xcel Energy Inc. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 514.159 million for Xcel Energy Inc. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Xcel Energy Inc. at the current share price and the inputted number of shares is $33.3 billion.

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