XEL P/B: current value, 10-year range and year-by-year history
Cash & Leverage
P/B History
Historically priceyAbove avgAround avgBelow avgHistorically cheap
XEL P/B by year
Yearly range of XEL’s p/b from 2016 to 2026. Over the full period it ranged from 1.5 to 2.9, averaging 2.2.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 1.8 | 2.0 | 2.2 | 1.8 |
| 2025 | 1.9 | 2.1 | 2.3 | 1.9 |
| 2024 | 1.5 | 1.8 | 2.1 | 2.0 |
| 2023 | 1.8 | 2.1 | 2.4 | 2.0 |
| 2022 | 1.9 | 2.4 | 2.6 | 2.3 |
| 2021 | 2.1 | 2.4 | 2.7 | 2.4 |
| 2020 | 2.0 | 2.6 | 2.9 | 2.4 |
| 2019 | 2.0 | 2.4 | 2.8 | 2.5 |
| 2018 | 1.9 | 2.0 | 2.3 | 2.1 |
| 2017 | 1.9 | 2.1 | 2.3 | 2.1 |
| 2016 | 1.8 | 1.9 | 1.9 | 1.9 |
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How much the market pays relative to the company's accounting net worth (assets minus liabilities). P/B < 1 means the market values the company below what the books say it owns.
Formula
Price / Book Value Per ShareHow to read this chart
Most useful for asset-heavy businesses: banks, insurers, REITs. A P/B near its historical low suggests the market is paying unusually little for the net assets.
Key caveats
- Goodwill and intangibles from acquisitions can inflate book value significantly — some analysts prefer tangible book value.
- Low P/B in technology or software companies is usually irrelevant: their value is in IP and people, not balance sheet assets.
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