Duke Energy Corporation (DUK)
Duke Energy is one of the largest regulated electric utilities in the United States, serving customers across the Southeast and Midwest. Its rate-regulated model produces predictable earnings and a substantial dividend.
Utilities stock comparison
DUK vs XEL: how the two businesses compare
Duke Energy (DUK) and Xcel Energy (XEL) do not both have comparable annual revenue in the SEC XBRL snapshot, so this comparison rests on business descriptions, classifications, and filings. Both file with the SEC under the same industry code, SIC 4931 (Electric & Other Services Combined).
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Sector
- Utilities
- SEC industry
- Electric & Other Services Combined
- Same classification
- Fiscal year ends
- December 31
- Same calendar
- Reviewed
- Feb 26, 2026
DUK vs XEL: quick comparison
| Company fact | DUK | XEL |
|---|---|---|
| Company | Duke Energy Corporation | Xcel Energy Inc. |
| Exchange | NYSE | NASDAQ |
| Headquarters | Charlotte, North Carolina | — |
| Founded | 1904 | — |
| SEC industry | Electric & Other Services Combined | Electric & Other Services Combined |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-26 | 10-K · 2026-02-25 |
Where DUK and XEL overlap, and where they don't
Overlap
- Same SEC industry: both report under SIC 4931, Electric & Other Services Combined.
- Shared research theme: Rates & central banks.
- Same fiscal calendar: both fiscal years end December 31.
Differences
No differences in classification, themes, or calendar are recorded in the data; the differences sit in the businesses described below.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Xcel Energy Inc. (XEL)
Xcel Energy provides electricity and natural gas across the Midwest and Western US with growing renewables.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves DUK
We have not yet published a company-specific driver list for DUK. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-26.
What moves XEL
We have not yet published a company-specific driver list for XEL. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-25.
The investment question
You now know how DUK and XEL are classified, when their fiscal years end, and where their exposures overlap. Those are the facts. The investment question is what each share price already assumes about their exposure to rates & central banks, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 13 matched transaction rows for DUK and 4 matched transaction rows for XEL. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
DUK primary filings
XEL primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving DUK or XEL
DUK vs XEL FAQs
Are DUK and XEL direct competitors?
Duke Energy and Xcel Energy share the SEC industry classification “Electric & Other Services Combined.” That makes the operating comparison relevant, but it does not prove that every product, customer, or revenue stream competes directly.
Which is better, DUK or XEL?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this DUK vs XEL comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Duke Energy Corporation and Xcel Energy Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-03. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-03. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
DUK vs XEL compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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