XPLR Infrastructure (XIFR)
NYSE:XIFR
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XPLR Infrastructure
(NYSE:XIFR)
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Rating:55Neutral
Price Target:
$10.50
▼(-1.13% Downside)
Action:ReiteratedDate:03/28/26
The score is driven primarily by mixed financial performance: resilient operating cash flow and improved 2025 balance-sheet leverage are offset by the return to losses and cooling revenue. Earnings-call updates are a secondary positive (clear capital plan, repowering expansion, and battery JV), while near-term technical signals are neutral-to-soft and valuation is constrained by negative earnings and no dividend yield data.
Positive Factors
Consistent operating cash flow
XPLR’s contracted infrastructure base generates reliably positive operating cash flow across cycles. That persistent cash generation supports self-funding of repowerings, debt servicing and selective project financing, reducing reliance on equity issuance for core growth over the medium term.
Negative Factors
Return to losses and slipping revenue
Top-line cooling and a swing back to negative net margins demonstrate earnings volatility tied to asset dispositions, one-offs and higher costs. Persistent negative profitability limits retained earnings, constrains ROE recovery and reduces the firm’s ability to fund growth from operating earnings without higher leverage or dilution.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent operating cash flow
XPLR’s contracted infrastructure base generates reliably positive operating cash flow across cycles. That persistent cash generation supports self-funding of repowerings, debt servicing and selective project financing, reducing reliance on equity issuance for core growth over the medium term.
Read all positive factors
XPLR Infrastructure (XIFR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.05B
Dividend YieldN/A
Average Volume (3M)823.20K
Price to Earnings (P/E)―
Beta (1Y)0.93
Revenue Growth7.04%
EPS Growth-176.92%
CountryUS
EmployeesN/A
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)0.30
Shares Outstanding93,966,350
10 Day Avg. Volume798,302
30 Day Avg. Volume823,197
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 Cap3.05
Enterprise Value/Revenue5.26
Enterprise Value/Gross Profit15.60
Enterprise Value/Ebitda10.31
Forecast
1Y Price Target
$12.26Price Target Upside15.44% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)2.44
Revenue Forecast (FY)$1.42B
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:Apr 16, 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
Positive
10.62
Price Trends
10.30
Positive
9.92
Positive
9.82
Positive
Market Momentum
0.04
Negative
55.51
Neutral
87.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XIFR, the sentiment is Positive. The current price of 10.62 is above the 20-day moving average (MA) of 10.34, above the 50-day MA of 10.30, and above the 200-day MA of 9.82, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 55.51 is Neutral, neither overbought nor oversold. The STOCH value of 87.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $5.08B | 12.10 | 10.99% | ― | 6.37% | 7.35% | |
63 Neutral | $4.45B | 52.17 | 4.36% | 7.33% | 8.15% | 180.89% | |
60 Neutral | $32.71B | 35.94 | 39.65% | 1.11% | 6.40% | 62.12% | |
58 Neutral | $51.18B | 58.07 | 18.91% | 0.56% | 42.77% | -47.64% | |
55 Neutral | $2.05B | -33.54 | -0.85% | ― | 7.04% | -176.92% | |
51 Neutral | $14.97B | -78.21 | -17.56% | ― | 80.20% | -74.33% |
* Utilities Sector Average
XIFR
XPLR Infrastructure
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2.30
27.64%
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XPLR Infrastructure Corporate Events
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.