XPLR Infrastructure (XIFR)
NYSE:XIFR
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XPLR Infrastructure
(NYSE:XIFR)
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Rating:54Neutral
Price Target:
$10.50
▲(3.04% Upside)
Action:ReiteratedDate:04/11/26
The score is driven mainly by mixed financial performance—weak recent profitability and slowing revenue, partially offset by consistently positive operating cash flow, improved 2025 balance-sheet metrics, and a strong 2025 free-cash-flow rebound. Technicals are neutral with limited momentum, while valuation is constrained by a negative P/E and no dividend yield provided. Recent guidance and strategic initiatives are broadly positive, but near-term cash-flow headwinds and execution/timing risks temper the outlook.
Positive Factors
Stable operating cash flow
XPLR’s assets generate consistently positive operating cash flow from long‑term contracted arrangements, supporting internal funding for maintenance, repowerings and debt service. This durable cash generation underpins resilience through business cycles and funds growth without relying solely on equity issuance.
Negative Factors
Return to net losses
Earnings volatility and the return to net losses weaken distributable cash and reduce cushion for capital spending or distributions. Persistent negative margins increase reliance on cash flow and balance sheet actions to meet obligations, making returns and stakeholder distributions more sensitive to operating or weather variability.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable operating cash flow
XPLR’s assets generate consistently positive operating cash flow from long‑term contracted arrangements, supporting internal funding for maintenance, repowerings and debt service. This durable cash generation underpins resilience through business cycles and funds growth without relying solely on equity issuance.
Read all positive factors
XPLR Infrastructure (XIFR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.06B
Dividend YieldN/A
Average Volume (3M)721.42K
Price to Earnings (P/E)8.1
Beta (1Y)0.84
Revenue Growth-1.98%
EPS Growth-201.77%
CountryUS
EmployeesN/A
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)-0.29
Shares Outstanding93,966,350
10 Day Avg. Volume643,095
30 Day Avg. Volume721,423
Financial Highlights & Ratios
PEG Ratio-1.68
Price to Book (P/B)0.29
Price to Sales (P/S)0.79
P/FCF Ratio-4.29
Enterprise Value/Market Cap3.03
Enterprise Value/Revenue5.27
Enterprise Value/Gross Profit15.62
Enterprise Value/Ebitda10.33
Forecast
1Y Price Target
$11.97Price Target Upside17.48% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)0.69
Revenue Forecast (FY)$1.34B
XPLR Infrastructure Business Overview & Revenue Model
Company Description
XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texa...
How the Company Makes Money
XIFR makes money primarily by owning infrastructure assets that generate recurring cash flows under contracts. Key revenue streams typically include (i) payments received from customers under long-term power purchase agreements (PPAs) or similar o...
XPLR Infrastructure Earnings Call Summary
Earnings Call Date:Feb 10, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The earnings call emphasizes successful execution against the company’s 2025 capital-simplification plan (delivering $1.88B adjusted EBITDA, $746M FCF before growth, >$1.1B CEPF reduction, ~$1.6B project financing raised, and completion of ~1.3 GW of repowerings). Management expanded its repowering program to ~2.1 GW (+500 MW, +31.25%) and announced a capital-efficient battery co-investment agreement with NextEra that could add ~200 net MW to XPLR’s portfolio with only ~ $80M potential equity exposure. Near-term headwinds include higher interest expense, the impact of asset dispositions and the absence of a one-time $40M 2024 benefit, deferred CEPF decisions (CEPF 3 until 2027), and timing of battery cash flows (commercial operations expected end-2027). Overall, highlights (strong cash generation, capital-structure progress, repowering expansion, and strategic JV with NextEra) outweigh the lowlights, though near-term FCF and execution timing risks remain.Positive Updates
Strong 2025 Financial Results
Adjusted EBITDA of $1.88 billion and free cash flow before growth of $746 million for full-year 2025, demonstrating robust cash generation from contracted assets. 2026 guidance targets adjusted EBITDA of $1.75B–$1.95B (midpoint ~$1.85B, ~-1.6% vs. 2025) and free cash flow before growth of $600M–$700M (midpoint ~$650M, ~-12.9% vs. 2025).
Negative Updates
Higher Interest Expense and Near-Term FCF Pressure
2025 free cash flow before growth was impacted by higher interest expense from corporate debt issued during refinancing and capital-structure simplification, and by timing of tax credit monetization—contributing to a lower 2026 midpoint FCF guidance (~$650M) vs. 2025 ($746M, ~-12.9%).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong 2025 Financial Results
Adjusted EBITDA of $1.88 billion and free cash flow before growth of $746 million for full-year 2025, demonstrating robust cash generation from contracted assets. 2026 guidance targets adjusted EBITDA of $1.75B–$1.95B (midpoint ~$1.85B, ~-1.6% vs. 2025) and free cash flow before growth of $600M–$700M (midpoint ~$650M, ~-12.9% vs. 2025).
Read all positive updates
Company Guidance
XPLR guided 2026 adjusted EBITDA of $1.75–$1.95 billion and free cash flow before growth of $600–$700 million (after 2025 actuals of $1.88 billion adjusted EBITDA and $746 million FCF before growth), saying the capital plan will be funded largely by retained cash flows supplemented by ~ $1.6 billion of project financing commitments and selective corporate debt; the repowering program was increased to ~2.1 GW through 2030 (up 500 MW from the prior 1.6 GW) with ~1.3 GW completed to date and ~350 MW of incremental repowerings expected, and XPLR announced a NextEra co-investment creating 4 co‑located battery projects totaling 400 MW (XPLR able to invest up to 49%, ~200 net MW) expected COD by end of 2027 with an expected net equity contribution of ~ $80 million after ~$31 million of interconnection sales (plus ~$14 million for Palo Duro) and the option to monetize up to 500 MW of additional interconnection rights; capital‑structure actions addressed > $1.1 billion of CEPFs in 2025, plan partial CEPF5 buyouts of ~ $150 million in 2026 and ~$470 million in 2027 and target a > $2 billion reduction in third‑party non‑controlling interests by 2030, while reducing the revolver to $1.25 billion (from $2.5 billion) and keeping corporate maturities at $750 million or less in any 12‑month period through 2030; management also noted the portfolio could deliver > $200 million of incremental revenue by 2040 and that guidance assumes normal weather and operating conditions.XPLR Infrastructure Financial Statement Overview
Summary
Income Statement
41
Neutral
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.19B | 1.23B | 1.08B | 969.00M | 722.00M |
| Gross Profit | 126.00M | 726.00M | 558.00M | 442.00M | 348.00M |
| EBITDA | 607.00M | 345.00M | 772.00M | 581.00M | 474.00M |
| Net Income | -28.00M | -23.00M | 200.00M | 477.00M | 137.00M |
Balance Sheet | |||||
| Total Assets | 19.59B | 20.29B | 22.51B | 23.05B | 18.98B |
| Cash, Cash Equivalents and Short-Term Investments | 960.00M | 328.00M | 274.00M | 226.00M | 147.00M |
| Total Debt | 6.20B | 5.34B | 6.29B | 5.29B | 5.33B |
| Total Liabilities | 8.70B | 7.43B | 8.45B | 8.28B | 7.82B |
| Stockholders Equity | 3.19B | 3.21B | 3.57B | 3.33B | 2.98B |
Cash Flow | |||||
| Free Cash Flow | -219.00M | 559.00M | -538.00M | -575.00M | 564.00M |
| Operating Cash Flow | 739.00M | 800.00M | 731.00M | 776.00M | 677.00M |
| Investing Cash Flow | 630.00M | 1.24B | -194.00M | -1.19B | -2.30B |
| Financing Cash Flow | -674.00M | -2.00B | -527.00M | 551.00M | 1.66B |
XPLR Infrastructure Technical Analysis
Negative
10.19
Price Trends
10.39
Negative
10.01
Positive
9.91
Positive
Market Momentum
-0.03
Positive
46.84
Neutral
29.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XIFR, the sentiment is Negative. The current price of 10.19 is below the 20-day moving average (MA) of 10.29, below the 50-day MA of 10.39, and above the 200-day MA of 9.91, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 46.84 is Neutral, neither overbought nor oversold. The STOCH value of 29.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XIFR.
XPLR Infrastructure Risk Analysis
XPLR Infrastructure disclosed 59 risk factors in its most recent earnings report. XPLR Infrastructure reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
XPLR Infrastructure Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | $4.87B | 12.10 | 10.99% | ― | 7.05% | -36.73% | |
63 Neutral | $4.85B | 52.17 | 4.36% | 7.33% | 16.06% | -88.65% | |
62 Neutral | $52.57B | 58.07 | 18.91% | 0.56% | -12.41% | -69.13% | |
59 Neutral | $32.91B | 35.94 | 39.65% | 1.11% | 9.16% | -22.17% | |
58 Neutral | $16.89B | -78.21 | -17.56% | ― | 84.81% | -126.56% | |
54 Neutral | $2.06B | 8.10 | -0.85% | ― | -1.98% | -201.77% |
* Utilities Sector Average
XIFR
XPLR Infrastructure
10.71
2.60
32.06%
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PAM
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228.02%
VST
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155.28
15.99
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TLN
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67.43%
XPLR Infrastructure Corporate Events
Business Operations and StrategyPrivate Placements and Financing
XPLR Infrastructure Expands Liquidity with New Term Loan
Positive
Apr 10, 2026
On April 10, 2026, indirect subsidiaries of XPLR Infrastructure, LP borrowed about $232 million under a limited-recourse senior secured variable rate term loan facility, highlighting the company’s continued use of structured debt to finance ...
Private Placements and FinancingRegulatory Filings and Compliance
XPLR Infrastructure Renews At-The-Market Equity Program
Positive
Apr 7, 2026
On April 7, 2026, XPLR Infrastructure, LP entered into a Distribution Agency Agreement with Barclays Capital Inc., KeyBanc Capital Markets Inc. and Scotia Capital (USA) Inc. to renew its at-the-market equity issuance program. Under this arrangemen...
Business Operations and StrategyPrivate Placements and Financing
XPLR Infrastructure Secures Major Term Loan for Growth
Positive
Mar 27, 2026
On March 27, 2026, indirect subsidiaries of XPLR Infrastructure borrowed about $174 million under a limited-recourse senior secured variable rate term loan facility, leaving roughly $376 million still available under the facility subject to condit...
Business Operations and StrategyPrivate Placements and Financing
XPLR Infrastructure Amends and Extends Revolving Credit Facility
Neutral
Feb 10, 2026
On February 6, 2026, XPLR Infrastructure Operating Partners, LP and its direct subsidiary entered into a fourth amendment to their senior secured revolving credit facility, reducing the facility size from $2.45 billion to $1.25 billion while keepi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.