Filing Flows › Comparisons › XEL vs AEE
Xcel Energy vs Ameren: XEL and AEE compared
Xcel Energy is the larger company: $4.2B of revenue in its latest quarter (Q3 2026) against $2.9B for Ameren (Q3 2026). Ameren is growing faster (+7% against +7% a year earlier). Ameren is more profitable, with an operating margin of 31.2% against 28.5%.
Where the money goes: XEL and AEE
Xcel Energy (XEL) · Q3 2026
Xcel Energy, Q3 2026: revenue $4.2B (+7% year over year), operating margin 28.5%, net earnings $960M, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
Ameren (AEE) · Q3 2026
Ameren, Q3 2026: revenue $2.9B (+7% year over year), operating margin 31.2%, net earnings $677M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Xcel Energy (XEL) | Ameren (AEE) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.2B | $2.9B |
| Revenue growth, Y/Y | +7% | +7% |
| Operating margin | 28.5% | 31.2% |
| Net earnings | $960M | $677M |
| Net margin | 23.0% | 23.5% |
| Operating cash flow | $2.1B | $1.0B |
| Market value | $50.5B | $31.5B |
| P/E | 18.6× | 19.6× |
| Analysts’ mean target | $89.82 | $116.28 |
Where the revenue comes from
Xcel Energy
- Total revenue from contracts with customers: $3.9B (93%)
- Transmission: $221M (5%)
- Other: $61.0M (1%)
Ameren
- Electric: $2.7B (94%)
- Natural gas: $160M (6%)
Questions
Which is bigger, Xcel Energy or Ameren?
Xcel Energy is the larger company: $4.2B of revenue in its latest quarter (Q3 2026) against $2.9B for Ameren (Q3 2026).
Is Xcel Energy or Ameren growing faster?
Ameren is growing faster (+7% against +7% a year earlier).
Which is more profitable, Xcel Energy or Ameren?
Ameren is more profitable, with an operating margin of 31.2% against 28.5%.
More: Xcel Energy earnings · how Xcel Energy makes money · Ameren earnings · how Ameren makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.