Go Pro
→ Iran War Shock: What I Was Told In That Private Meeting (From Banyan Hill Publishing) (Ad)tc pixel Free XEL Stock Alerts

Xcel Energy (XEL) Financials

Xcel Energy logo
$78.20 -0.03 (-0.04%)
Closing price 07/31/2026 04:00 PM Eastern
Extended Trading
$78.24 +0.03 (+0.04%)
As of 07/31/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
Compare
Annual Income Statements for Xcel Energy

Annual Income Statements for Xcel Energy

This table shows Xcel Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 984 1,123 1,148 1,261 1,372 1,473 1,597 1,736 1,771 1,936 2,018
Consolidated Net Income / (Loss)		 984 1,123 1,148 1,261 1,372 1,473 1,597 1,736 1,771 1,936 2,018
Net Income / (Loss) Continuing Operations		 984 1,123 1,148 1,261 1,372 1,473 1,597 1,736 1,771 1,936 2,018
Total Pre-Tax Income 		1,527 1,704 1,690 1,442 1,500 1,467 1,527 1,601 1,625 1,534 1,773
Total Operating Income		 2,000 2,240 2,223 1,965 2,104 2,116 2,203 2,428 2,481 2,386 2,583
Total Gross Profit		 3,990 4,320 4,520 4,453 4,723 4,964 5,258 5,860 5,979 6,148 6,628
Total Revenue		 11,024 11,107 11,404 11,537 11,529 11,526 13,431 15,310 14,206 13,441 14,669
Operating Revenue		 10,948 11,107 11,404 11,537 11,529 11,526 13,431 15,310 14,206 13,441 14,669
Total Cost of Revenue		 7,034 6,787 6,884 7,084 6,806 6,562 8,173 9,450 8,227 7,293 8,041
Operating Cost of Revenue		 7,034 6,787 6,884 7,084 6,806 6,562 8,173 9,450 8,227 7,293 8,041
Total Operating Expenses		 1,990 2,080 2,297 2,488 2,619 2,848 3,055 3,432 3,498 3,762 4,045
Depreciation Expense		 1,124 1,303 1,479 1,642 1,765 1,948 2,121 2,413 2,448 2,744 2,953
Other Operating Expenses / (Income)		 866 777 818 846 854 900 934 1,019 1,015 1,018 1,092
Other Special Charges / (Income)		 - - - - - - 0.00 0.00 35 0.00 0.00
Total Other Income / (Expense), net		 -473 -536 -533 -523 -604 -649 -676 -827 -856 -852 -810
Interest Expense		 569 620 628 652 736 798 816 925 1,004 1,182 1,343
Interest & Investment Income		 90 102 105 143 116 155 135 111 126 187 298
Other Income / (Expense), net		 6.00 -18 -10 -14 16 -6.00 5.00 -13 22 143 235
Income Tax Expense		 543 581 542 181 128 -6.00 -70 -135 -146 -402 -245
Basic Earnings per Share		 $1.94 $2.21 $2.26 $2.47 $2.64 $2.79 $2.96 $3.18 $3.21 $3.44 $3.44
Weighted Average Basic Shares Outstanding		 507.80M 509M 509M 511M 519M 527M 539M 547M 552M 563M 587M
Diluted Earnings per Share		 $1.94 $2.21 $2.25 $2.47 $2.64 $2.79 $2.96 $3.17 $3.21 $3.44 $3.42
Weighted Average Diluted Shares Outstanding		 508.20M 509M 509M 511M 520M 528M 540M 547M 552M 563M 589M
Weighted Average Basic & Diluted Shares Outstanding		 507.50M 508.10M 508M 510.50M 524.67M 537.65M 544.21M 549.85M 555.16M 574.55M 623.88M
Cash Dividends to Common per Share		 $1.28 $1.36 $1.44 $1.52 $1.62 $1.72 $1.72 $1.95 $2.08 $2.19 $2.28

Quarterly Income Statements for Xcel Energy

This table shows Xcel Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 409 488 302 682 464 483 444 524 567 556 586
Consolidated Net Income / (Loss)		 409 488 302 682 464 483 444 524 567 556 586
Net Income / (Loss) Continuing Operations		 409 488 302 682 464 483 444 524 567 556 586
Total Pre-Tax Income 		364 461 214 692 167 422 384 532 435 509 526
Total Operating Income		 575 679 449 911 347 677 577 749 580 754 706
Total Gross Profit		 1,528 1,605 1,392 1,863 1,288 1,685 1,559 2,059 1,325 1,804 1,655
Total Revenue		 3,442 3,649 3,028 3,644 3,120 3,906 3,287 3,915 3,561 4,021 3,119
Operating Revenue		 3,442 3,649 3,028 3,644 3,120 3,906 3,287 3,915 3,561 4,021 3,119
Total Cost of Revenue		 1,914 2,044 1,636 1,781 1,832 2,221 1,728 1,856 2,236 2,217 1,464
Operating Cost of Revenue		 1,914 2,044 1,636 1,781 1,832 2,221 1,728 1,856 2,236 2,217 1,464
Total Operating Expenses		 953 926 943 952 941 1,008 982 1,310 745 1,050 949
Depreciation Expense		 641 658 703 681 702 728 722 750 753 768 662
Other Operating Expenses / (Income)		 311 268 240 271 239 280 260 273 279 304 284
Other Special Charges / (Income)		 - - - 0.00 - 0.00 0.00 287 - -22 3.00
Total Other Income / (Expense), net		 -211 -218 -235 -219 -180 -255 -193 -217 -145 -245 -180
Interest Expense		 250 277 303 305 297 309 322 348 364 372 398
Interest & Investment Income		 36 45 46 47 49 47 61 85 105 105 181
Other Income / (Expense), net		 3.00 14 22 39 68 7.00 68 46 114 22 37
Income Tax Expense		 -45 -27 -88 10 -297 -61 -60 8.00 -132 -47 -60
Basic Earnings per Share		 $0.74 $0.88 $0.54 $1.21 $0.81 $0.84 $0.76 $0.88 $0.96 $0.89 $0.94
Weighted Average Basic Shares Outstanding		 552M 556M 557M 564M 563M 575M 586M 592M 587M 624M 625M
Diluted Earnings per Share		 $0.74 $0.88 $0.54 $1.21 $0.81 $0.84 $0.75 $0.88 $0.95 $0.89 $0.93
Weighted Average Diluted Shares Outstanding		 552M 556M 557M 565M 563M 577M 588M 595M 589M 626M 627M
Weighted Average Basic & Diluted Shares Outstanding		 555.16M 555.64M 557.50M 574.24M 574.55M 576.76M 591.43M 591.54M 623.88M 624.27M 624.63M

Annual Cash Flow Statements for Xcel Energy

This table details how cash moves in and out of Xcel Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 5.00 0.00 -2.00 64 101 -119 37 -55 18 50 95
Net Cash From Operating Activities		 3,038 3,052 3,126 3,122 3,263 2,848 2,189 3,932 5,327 4,641 4,083
Net Cash From Continuing Operating Activities		 3,038 3,052 3,126 3,122 3,263 2,848 2,189 3,932 5,327 4,641 4,083
Net Income / (Loss) Continuing Operations		 984 1,123 1,148 1,261 1,372 1,473 1,597 1,736 1,771 1,936 2,018
Consolidated Net Income / (Loss)		 984 1,123 1,148 1,261 1,372 1,473 1,597 1,736 1,771 1,936 2,018
Depreciation Expense		 1,143 1,319 1,495 1,659 1,785 1,959 2,143 2,436 2,471 2,769 2,968
Amortization Expense		 106 117 114 122 119 123 114 118 96 106 114
Non-Cash Adjustments To Reconcile Net Income		 182 32 34 12 254 9.00 -2.00 -224 206 -52 -207
Changes in Operating Assets and Liabilities, net		 623 461 335 68 -267 -716 -1,663 -134 783 -118 -810
Net Cash From Investing Activities		 -3,623 -3,261 -3,296 -3,986 -4,343 -4,740 -4,287 -4,653 -5,926 -7,428 -10,969
Net Cash From Continuing Investing Activities		 -3,679 -3,261 -3,296 -3,986 -4,343 -4,740 -4,287 -4,653 -5,926 -7,428 -10,969
Purchase of Property, Plant & Equipment		 -3,683 -3,195 -3,244 -3,957 -4,225 -5,369 -4,244 -4,638 -5,854 -7,364 -10,908
Purchase of Investments		 -1,258 -547 -1,697 -853 -995 -1,398 -757 -1,332 -994 -998 -1,200
Divestitures		 - - - 0.00 0.00 684 0.00 0.00 0.00 0.00 0.00
Sale and/or Maturity of Investments		 1,237 479 1,669 833 975 1,378 743 1,297 959 961 1,197
Other Investing Activities, net		 27 2.00 -24 -9.00 -98 -35 -29 20 -37 -27 -58
Net Cash From Financing Activities		 590 209 168 928 1,181 1,773 2,135 666 617 2,837 6,981
Net Cash From Continuing Financing Activities		 590 209 168 928 1,181 1,773 2,135 666 617 2,837 6,981
Repayment of Debt		 -262 -1,502 -1,051 -472 -963 -1,027 -6.00 -616 -1,191 -752 -849
Payment of Dividends		 -607 -681 -721 -730 -791 -856 -935 -1,012 -1,092 -1,175 -1,282
Issuance of Debt		 1,452 2,424 1,940 1,900 2,477 2,929 2,710 1,972 2,630 3,647 5,763
Issuance of Common Equity		 7.00 0.00 0.00 230 458 727 366 322 270 1,117 3,349
Cash Interest Paid		 543 592 616 633 698 758 788 887 945 1,131 1,262
Cash Income Taxes Paid		 -58 -62 -44 -27 -53 -12 4.00 15 92 588 641

Quarterly Cash Flow Statements for Xcel Energy

This table details how cash moves in and out of Xcel Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -465 372 1,097 -53 -1,366 944 331 -402 -778 1,486 250
Net Cash From Operating Activities		 974 1,050 1,190 1,737 664 1,028 1,081 1,765 209 1,697 1,100
Net Cash From Continuing Operating Activities		 974 1,050 1,190 1,737 664 1,028 1,081 1,765 209 1,697 1,100
Net Income / (Loss) Continuing Operations		 409 488 302 682 464 483 444 524 567 556 586
Consolidated Net Income / (Loss)		 409 488 302 682 464 483 444 524 567 556 586
Depreciation Expense		 647 664 706 685 714 734 727 755 752 767 657
Amortization Expense		 12 20 33 32 21 29 26 32 27 27 32
Non-Cash Adjustments To Reconcile Net Income		 -373 -13 276 -301 -35 -11 -29 -52 -115 -74 -152
Changes in Operating Assets and Liabilities, net		 279 -109 -127 639 -500 -207 -87 506 -1,022 421 -23
Net Cash From Investing Activities		 -1,634 -1,556 -1,847 -1,794 -2,231 -1,991 -2,439 -3,062 -3,477 -3,019 -2,940
Net Cash From Continuing Investing Activities		 -1,634 -1,556 -1,847 -1,794 -2,231 -1,991 -2,439 -3,062 -3,477 -3,019 -2,940
Purchase of Property, Plant & Equipment		 -1,614 -1,537 -1,831 -1,779 -2,217 -1,988 -2,427 -3,055 -3,438 -3,022 -2,948
Purchase of Investments		 -290 -189 -280 -224 -305 -241 -330 -283 -346 -763 -325
Sale and/or Maturity of Investments		 281 179 271 216 295 240 330 281 346 763 325
Other Investing Activities, net		 -11 -9.00 -7.00 -7.00 -4.00 -2.00 -12 -5.00 -39 3.00 8.00
Net Cash From Financing Activities		 195 878 1,754 4.00 201 1,907 1,689 895 2,490 2,808 2,090
Net Cash From Continuing Financing Activities		 195 878 1,754 4.00 201 1,907 1,689 895 2,490 2,808 2,090
Repayment of Debt		 287 -328 -210 -707 493 14 -954 351 -260 -105 46
Payment of Dividends		 -278 -280 -295 -296 -304 -306 -319 -329 -328 -347 -361
Issuance of Debt		 -1.00 1,478 2,166 -1.00 4.00 2,077 1,941 865 880 3,259 2,395
Issuance of Common Equity		 187 8.00 93 1,008 8.00 122 1,021 8.00 2,198 1.00 10
Cash Interest Paid		 293 230 287 276 338 252 331 249 430 283 422

Annual Balance Sheets for Xcel Energy

This table presents Xcel Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 38,821 41,155 43,030 45,987 50,448 53,957 57,851 61,188 64,079 70,035 81,371
Total Current Assets		 2,770 2,842 2,973 3,094 3,113 3,275 4,239 5,144 4,069 4,325 5,014
Cash & Equivalents		 85 85 83 147 0.00 129 166 111 129 179 274
Short-Term Investments		 34 38 44 87 55 49 123 279 104 114 165
Accounts Receivable		 1,379 1,506 1,561 1,615 1,550 1,630 1,880 2,478 2,168 2,081 2,210
Inventories, net		 609 604 610 548 544 535 631 803 711 666 761
Prepaid Expenses		 156 138 183 154 185 250 289 360 294 724 1,075
Other Current Assets		 345 364 424 464 488 640 1,106 1,059 611 561 529
Plant, Property, & Equipment, net		 31,206 32,842 34,329 36,944 39,483 42,950 45,457 48,253 51,642 57,198 65,639
Total Noncurrent Assets		 4,845 5,471 5,728 5,949 7,852 7,732 8,155 7,791 8,368 8,512 10,718
Long-Term Investments		 1,903 2,092 2,397 2,317 2,731 3,096 3,628 3,234 3,599 3,896 4,389
Noncurrent Note & Lease Receivables		 - - - - - - - - - 111 1,348
Other Noncurrent Operating Assets		 2,942 3,379 3,331 3,632 5,121 4,636 4,527 4,557 4,769 4,505 4,981
Total Liabilities & Shareholders' Equity		 38,821 41,155 43,030 45,987 50,448 53,957 57,851 61,188 64,079 70,035 81,371
Total Liabilities		 28,221 30,134 31,575 33,765 37,209 39,382 42,239 44,513 46,463 50,513 57,762
Total Current Liabilities		 4,058 3,247 4,088 4,460 4,568 4,239 5,046 6,078 5,652 6,459 7,089
Short-Term Debt		 1,503 647 1,271 1,444 1,297 1,005 1,606 1,964 1,337 1,798 2,051
Accounts Payable		 961 1,045 1,243 1,237 1,294 1,237 1,409 1,804 1,668 1,781 2,307
Dividends Payable		 162 172 183 195 212 231 249 268 289 314 355
Current Deferred & Payable Income Tax Liabilities		 438 457 448 450 466 578 569 569 557 535 579
Other Current Liabilities		 827 753 769 960 1,107 985 1,004 1,256 1,550 1,751 1,460
Other Current Nonoperating Liabilities		 167 173 174 174 192 203 209 217 251 280 337
Total Noncurrent Liabilities		 24,162 26,887 27,487 29,305 32,641 35,143 37,193 38,435 40,811 44,054 50,673
Long-Term Debt		 12,399 14,195 14,520 15,803 17,407 19,645 21,779 22,813 24,913 27,316 31,832
Capital Lease Obligations		 - - - 0.00 1,549 1,344 1,146 1,038 1,038 927 2,050
Asset Retirement Reserve & Litigation Obligation		 3,941 4,165 7,558 7,755 7,778 8,186 8,556 8,949 9,045 9,723 10,165
Noncurrent Deferred Revenue		 229 195 193 199 203 197 196 181 167 146 129
Noncurrent Deferred & Payable Income Tax Liabilities		 6,222 6,847 3,903 4,219 4,558 4,791 4,947 4,804 4,945 5,319 6,004
Noncurrent Employee Benefit Liabilities		 941 1,112 1,042 994 785 666 306 390 469 477 365
Other Noncurrent Operating Liabilities		 430 373 271 335 361 314 263 260 234 146 128
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 10,601 11,021 11,455 12,222 13,239 14,575 15,612 16,675 17,616 19,522 23,609
Total Preferred & Common Equity		 10,601 11,021 11,455 12,222 13,239 14,575 15,612 16,675 17,616 19,522 23,609
Total Common Equity		 10,601 11,021 11,455 12,222 13,239 14,575 15,612 16,675 17,616 19,522 23,609
Common Stock		 7,158 7,149 7,167 7,453 7,967 8,748 9,163 9,529 9,852 11,037 14,465
Retained Earnings		 3,553 3,982 4,413 4,893 5,413 5,968 6,572 7,239 7,858 8,553 9,207
Accumulated Other Comprehensive Income / (Loss)		 -110 -110 -125 -124 -141 -141 -123 -93 -94 -68 -63

Quarterly Balance Sheets for Xcel Energy

This table presents Xcel Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 62,870 64,079 65,585 67,927 69,286 70,035 72,749 75,337 79,154 84,828 87,165
Total Current Assets		 4,402 4,069 4,489 5,699 5,469 4,325 5,368 5,667 5,681 5,882 6,082
Cash & Equivalents		 594 129 501 1,598 1,545 179 1,123 1,454 1,052 1,760 2,010
Short-Term Investments		 146 104 86 234 179 114 113 255 216 138 178
Accounts Receivable		 1,951 2,168 1,999 1,985 1,977 2,081 2,056 1,955 2,012 2,092 2,041
Inventories, net		 688 711 623 622 638 666 625 668 723 709 745
Prepaid Expenses		 257 294 548 541 504 652 749 652 1,142 701 587
Other Current Assets		 695 611 647 630 562 561 627 621 536 482 521
Plant, Property, & Equipment, net		 50,613 51,642 52,765 53,890 55,321 57,198 58,807 60,751 63,131 67,808 69,497
Total Noncurrent Assets		 7,855 8,368 8,331 8,338 8,496 8,512 8,574 8,919 10,342 11,138 11,586
Long-Term Investments		 3,393 3,599 3,746 3,791 3,947 3,896 3,888 4,087 4,273 4,336 4,727
Noncurrent Note & Lease Receivables		 - - - - - - - - 1,358 1,431 1,421
Other Noncurrent Operating Assets		 4,462 4,769 4,585 4,547 4,549 4,616 4,686 4,832 4,711 5,371 5,438
Total Liabilities & Shareholders' Equity		 62,870 64,079 65,585 67,927 69,286 70,035 72,749 75,337 79,154 84,828 87,165
Total Liabilities		 45,561 46,463 47,744 49,973 49,934 50,513 52,945 54,376 57,973 61,022 63,108
Total Current Liabilities		 5,073 5,652 5,210 5,900 5,858 6,459 6,741 5,886 7,148 7,636 8,672
Short-Term Debt		 1,051 1,337 1,015 1,656 1,199 1,798 1,822 1,071 1,331 2,481 3,509
Accounts Payable		 1,445 1,668 1,461 1,546 1,713 1,781 1,942 2,096 2,328 2,261 2,323
Dividends Payable		 287 289 304 305 312 314 328 337 337 370 370
Current Deferred & Payable Income Tax Liabilities		 541 557 638 360 488 535 631 360 531 697 416
Other Current Liabilities		 1,461 1,550 1,501 1,734 1,817 1,751 1,688 1,703 2,211 1,408 1,669
Other Current Nonoperating Liabilities		 288 251 291 299 329 280 330 319 410 419 385
Total Noncurrent Liabilities		 40,488 40,811 42,534 44,073 44,076 44,054 46,204 48,490 50,825 53,386 54,436
Long-Term Debt		 24,910 24,913 26,396 27,716 27,471 27,316 29,396 31,099 32,034 34,552 35,948
Capital Lease Obligations		 930 1,038 980 961 908 867 889 945 2,043 2,059 2,047
Asset Retirement Reserve & Litigation Obligation		 9,141 9,045 9,245 9,349 9,487 9,723 9,856 10,020 10,185 10,324 9,887
Noncurrent Deferred Revenue		 173 167 159 154 154 146 139 132 130 128 123
Noncurrent Deferred & Payable Income Tax Liabilities		 4,747 4,945 5,166 5,336 5,521 5,359 5,368 5,739 5,927 5,918 6,012
Noncurrent Employee Benefit Liabilities		 355 469 364 371 374 477 352 360 372 289 307
Other Noncurrent Operating Liabilities		 232 234 224 186 161 166 204 195 134 116 112
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 17,309 17,616 17,841 17,954 19,352 19,522 19,804 20,961 21,181 23,806 24,057
Total Preferred & Common Equity		 17,309 17,616 17,841 17,954 19,352 19,522 19,804 20,961 21,181 23,806 24,057
Total Common Equity		 17,309 17,616 17,841 17,954 19,352 19,522 19,804 20,961 21,181 23,806 24,057
Common Stock		 9,648 9,852 9,870 9,982 11,012 11,037 11,170 12,214 12,251 14,474 14,508
Retained Earnings		 7,739 7,858 8,042 8,039 8,406 8,553 8,706 8,813 8,995 9,391 9,607
Accumulated Other Comprehensive Income / (Loss)		 -78 -94 -71 -67 -66 -68 -72 -66 -65 -59 -58

Annual Metrics And Ratios for Xcel Energy

This table displays calculated financial ratios and metrics derived from Xcel Energy's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -5.67% 0.75% 2.67% 1.17% -0.07% -0.03% 16.53% 13.99% -7.21% -5.39% 9.14%
EBITDA Growth		 4.85% 12.38% 4.48% -2.35% 7.82% 4.18% 6.51% 11.29% 2.03% 6.59% 9.18%
EBIT Growth		 2.69% 10.77% -0.41% -11.84% 8.66% -0.47% 4.64% 9.38% 3.64% 1.04% 11.43%
NOPAT Growth		 0.09% 14.54% 2.29% 13.79% 11.99% 10.40% 8.44% 14.27% 2.70% 11.37% -2.37%
Net Income Growth		 -3.65% 14.13% 2.23% 9.84% 8.80% 7.36% 8.42% 8.70% 2.02% 9.32% 4.24%
EPS Growth		 -4.43% 13.92% 1.81% 9.78% 6.88% 5.68% 6.09% 7.09% 1.26% 7.17% -0.58%
Operating Cash Flow Growth		 14.23% 0.46% 2.42% -0.13% 4.52% -12.72% -23.14% 79.63% 35.48% -12.88% -12.02%
Free Cash Flow Firm Growth		 -40.09% 234.74% 44.47% -215.47% -237.09% 55.02% 12.30% 94.74% 1,392.58% -390.07% -383.23%
Invested Capital Growth		 7.07% 5.19% 4.53% 8.80% 13.10% 9.29% 8.76% 7.27% 5.75% 10.32% 20.53%
Revenue Q/Q Growth		 -2.51% 1.36% 0.01% 0.73% -0.71% 1.31% 3.13% 4.78% -4.12% -2.34% 3.10%
EBITDA Q/Q Growth		 2.69% 1.81% 0.32% -0.90% 3.23% 0.46% 1.20% 3.48% 1.26% -1.58% 5.79%
EBIT Q/Q Growth		 2.50% 1.20% -1.43% -4.97% 5.95% -1.26% 0.36% 4.27% 1.87% -6.06% 10.99%
NOPAT Q/Q Growth		 1.44% 2.98% -3.68% 3.56% 5.22% 1.37% 1.78% 3.74% 1.26% 6.01% -1.68%
Net Income Q/Q Growth		 1.26% 1.68% -3.13% 1.94% 6.03% -0.27% 1.72% 3.83% 1.72% 2.92% 5.38%
EPS Q/Q Growth		 1.04% 1.84% -3.85% 2.49% 5.60% -0.36% 1.02% 3.59% 1.58% 2.08% 4.27%
Operating Cash Flow Q/Q Growth		 -3.40% 2.64% 4.42% -4.00% 2.42% -1.11% -2.84% 4.10% 4.08% -6.26% -10.03%
Free Cash Flow Firm Q/Q Growth		 -175.82% 359.26% 42.77% -2,228.10% 21.89% -173.43% 41.78% 97.02% 15.86% -207.73% -32.48%
Invested Capital Q/Q Growth		 4.62% 2.76% 1.87% 3.93% 2.20% 7.82% 5.82% 2.60% 2.39% 4.57% 6.97%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 36.19% 38.89% 39.64% 38.60% 40.97% 43.07% 39.15% 38.28% 42.09% 45.74% 45.18%
EBITDA Margin		 29.53% 32.93% 33.51% 32.35% 34.90% 36.37% 33.24% 32.46% 35.69% 40.21% 40.22%
Operating Margin		 18.14% 20.17% 19.49% 17.03% 18.25% 18.36% 16.40% 15.86% 17.46% 17.75% 17.61%
EBIT Margin		 18.20% 20.01% 19.41% 16.91% 18.39% 18.31% 16.44% 15.77% 17.62% 18.82% 19.21%
Profit (Net Income) Margin		 8.93% 10.11% 10.07% 10.93% 11.90% 12.78% 11.89% 11.34% 12.47% 14.40% 13.76%
Tax Burden Percent		 64.44% 65.90% 67.93% 87.45% 91.47% 100.41% 104.58% 108.43% 108.98% 126.21% 113.82%
Interest Burden Percent		 76.12% 76.69% 76.37% 73.91% 70.75% 69.53% 69.16% 66.29% 64.92% 60.66% 62.92%
Effective Tax Rate		 35.56% 34.10% 32.07% 12.55% 8.53% -0.41% -4.58% -8.43% -8.98% -26.21% -13.82%
Return on Invested Capital (ROIC)		 5.84% 6.31% 6.15% 6.56% 6.62% 6.58% 6.54% 6.93% 6.68% 6.88% 5.80%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.23% 3.50% 3.43% 3.37% 3.24% 3.04% 3.03% 2.83% 2.68% 2.61% 2.63%
Return on Net Nonoperating Assets (RNNOA)		 3.61% 4.08% 4.06% 4.09% 4.16% 4.01% 4.04% 3.83% 3.65% 3.54% 3.56%
Return on Equity (ROE)		 9.45% 10.39% 10.22% 10.65% 10.78% 10.59% 10.58% 10.75% 10.33% 10.43% 9.36%
Cash Return on Invested Capital (CROIC)		 -0.99% 1.25% 1.73% -1.87% -5.68% -2.30% -1.85% -0.09% 1.09% -2.94% -12.82%
Operating Return on Assets (OROA)		 5.29% 5.56% 5.26% 4.38% 4.40% 4.04% 3.95% 4.06% 4.00% 3.77% 3.72%
Return on Assets (ROA)		 2.60% 2.81% 2.73% 2.83% 2.85% 2.82% 2.86% 2.92% 2.83% 2.89% 2.67%
Return on Common Equity (ROCE)		 9.45% 10.39% 10.22% 10.65% 10.78% 10.59% 10.58% 10.75% 10.33% 10.43% 9.36%
Return on Equity Simple (ROE_SIMPLE)		 9.28% 10.19% 10.02% 10.32% 10.36% 10.11% 10.23% 10.41% 10.05% 9.92% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,289 1,476 1,510 1,718 1,924 2,125 2,304 2,633 2,704 3,011 2,940
NOPAT Margin		 11.69% 13.29% 13.24% 14.89% 16.69% 18.43% 17.15% 17.20% 19.03% 22.40% 20.04%
Net Nonoperating Expense Percent (NNEP)		 2.62% 2.81% 2.72% 3.19% 3.38% 3.54% 3.52% 4.10% 4.00% 4.27% 3.17%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 6.20% 6.02% 6.08% 4.94%
Cost of Revenue to Revenue		 63.81% 61.11% 60.36% 61.40% 59.03% 56.93% 60.85% 61.72% 57.91% 54.26% 54.82%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 18.05% 18.73% 20.14% 21.57% 22.72% 24.71% 22.75% 22.42% 24.62% 27.99% 27.58%
Earnings before Interest and Taxes (EBIT)		 2,006 2,222 2,213 1,951 2,120 2,110 2,208 2,415 2,503 2,529 2,818
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3,255 3,658 3,822 3,732 4,024 4,192 4,465 4,969 5,070 5,404 5,900
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.33 1.50 1.75 1.76 2.20 2.15 2.15 2.14 1.87 1.97 1.85
Price to Tangible Book Value (P/TBV)		 1.33 1.50 1.75 1.76 2.20 2.15 2.15 2.14 1.87 1.97 1.85
Price to Revenue (P/Rev)		 1.28 1.48 1.76 1.87 2.52 2.72 2.50 2.33 2.32 2.86 2.98
Price to Earnings (P/E)		 14.29 14.68 17.50 17.07 21.19 21.31 21.04 20.58 18.58 19.86 21.65
Dividend Yield		 4.62% 4.19% 3.64% 3.63% 2.92% 2.88% 2.93% 2.99% 3.49% 3.23% 3.83%
Earnings Yield		 7.00% 6.81% 5.72% 5.86% 4.72% 4.69% 4.75% 4.86% 5.38% 5.03% 4.62%
Enterprise Value to Invested Capital (EV/IC)		 1.14 1.21 1.33 1.33 1.51 1.49 1.48 1.47 1.35 1.40 1.35
Enterprise Value to Revenue (EV/Rev)		 2.35 2.62 2.92 3.14 4.04 4.35 4.04 3.78 3.97 4.78 5.10
Enterprise Value to EBITDA (EV/EBITDA)		 7.97 7.96 8.73 9.70 11.57 11.95 12.14 11.66 11.12 11.89 12.68
Enterprise Value to EBIT (EV/EBIT)		 12.93 13.10 15.07 18.56 21.95 23.75 24.55 23.98 22.52 25.40 26.54
Enterprise Value to NOPAT (EV/NOPAT)		 20.13 19.72 22.09 21.08 24.18 23.59 23.53 22.00 20.84 21.34 25.44
Enterprise Value to Operating Cash Flow (EV/OCF)		 8.54 9.54 10.67 11.60 14.26 17.60 24.77 14.73 10.58 13.84 18.32
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 99.17 78.65 0.00 0.00 0.00 0.00 0.00 127.24 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.31 1.35 1.38 1.41 1.53 1.51 1.57 1.55 1.55 1.54 1.52
Long-Term Debt to Equity		 1.17 1.29 1.27 1.29 1.43 1.44 1.47 1.43 1.47 1.44 1.44
Financial Leverage		 1.12 1.16 1.18 1.21 1.28 1.32 1.33 1.36 1.36 1.36 1.35
Leverage Ratio		 3.64 3.70 3.75 3.76 3.79 3.75 3.70 3.69 3.65 3.61 3.51
Compound Leverage Factor		 2.77 2.84 2.86 2.78 2.68 2.61 2.56 2.44 2.37 2.19 2.21
Debt to Total Capital		 56.74% 57.39% 57.96% 58.53% 60.47% 60.14% 61.11% 60.76% 60.77% 60.56% 60.35%
Short-Term Debt to Total Capital		 6.13% 2.50% 4.66% 4.90% 3.87% 2.75% 4.00% 4.62% 2.98% 3.63% 3.44%
Long-Term Debt to Total Capital		 50.60% 54.89% 53.29% 53.63% 56.60% 57.40% 57.11% 56.13% 57.79% 56.93% 56.90%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 43.26% 42.61% 42.04% 41.47% 39.53% 39.86% 38.89% 39.24% 39.23% 39.44% 39.65%
Debt to EBITDA		 4.27 4.06 4.13 4.62 5.03 5.25 5.49 5.20 5.38 5.55 6.09
Net Debt to EBITDA		 3.65 3.45 3.47 3.94 4.34 4.47 4.62 4.47 4.63 4.77 5.27
Long-Term Debt to EBITDA		 3.81 3.88 3.80 4.23 4.71 5.01 5.13 4.80 5.12 5.22 5.74
Debt to NOPAT		 10.79 10.05 10.46 10.04 10.52 10.35 10.65 9.81 10.09 9.96 12.22
Net Debt to NOPAT		 9.22 8.55 8.79 8.55 9.08 8.81 8.95 8.43 8.67 8.57 10.58
Long-Term Debt to NOPAT		 9.62 9.62 9.62 9.20 9.85 9.88 9.95 9.06 9.60 9.36 11.52
Altman Z-Score		 0.84 0.90 0.93 0.89 0.95 0.95 0.98 1.01 0.92 0.90 0.88
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.68 0.88 0.73 0.69 0.68 0.77 0.84 0.85 0.72 0.67 0.71
Quick Ratio		 0.37 0.50 0.41 0.41 0.35 0.43 0.43 0.47 0.42 0.37 0.37
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -218 294 424 -490 -1,651 -742 -651 -34 443 -1,285 -6,498
Operating Cash Flow to CapEx		 82.49% 95.52% 96.36% 78.90% 77.23% 53.05% 51.58% 84.78% 91.00% 63.02% 37.43%
Free Cash Flow to Firm to Interest Expense		 -0.38 0.47 0.68 -0.75 -2.24 -0.93 -0.80 -0.04 0.44 -1.09 -4.84
Operating Cash Flow to Interest Expense		 5.34 4.92 4.98 4.79 4.43 3.57 2.68 4.25 5.31 3.93 3.04
Operating Cash Flow Less CapEx to Interest Expense		 -1.13 -0.23 -0.19 -1.28 -1.31 -3.16 -2.52 -0.76 -0.52 -2.30 -5.08
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.29 0.28 0.27 0.26 0.24 0.22 0.24 0.26 0.23 0.20 0.19
Accounts Receivable Turnover		 7.51 7.70 7.44 7.27 7.29 7.25 7.65 7.03 6.12 6.33 6.84
Inventory Turnover		 11.67 11.19 11.34 12.23 12.47 12.16 14.02 13.18 10.87 10.59 11.27
Fixed Asset Turnover		 0.37 0.35 0.34 0.32 0.30 0.28 0.30 0.33 0.28 0.25 0.24
Accounts Payable Turnover		 6.59 6.77 6.02 5.71 5.38 5.19 6.18 5.88 4.74 4.23 3.93
Days Sales Outstanding (DSO)		 48.58 47.41 49.08 50.24 50.10 50.35 47.69 51.95 59.69 57.69 53.39
Days Inventory Outstanding (DIO)		 31.28 32.61 32.18 29.83 29.28 30.01 26.04 27.69 33.59 34.46 32.39
Days Payable Outstanding (DPO)		 55.37 53.94 60.66 63.89 67.87 70.39 59.08 62.05 77.02 86.31 92.78
Cash Conversion Cycle (CCC)		 24.50 26.08 20.61 16.18 11.51 9.97 14.65 17.59 16.25 5.84 -7.01
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 22,810 23,993 25,079 27,287 30,862 33,729 36,684 39,351 41,612 45,908 55,406
Invested Capital Turnover		 0.50 0.47 0.46 0.44 0.40 0.36 0.38 0.40 0.35 0.31 0.29
Increase / (Decrease) in Invested Capital		 1,507 1,183 1,086 2,208 3,575 2,867 2,955 2,667 2,261 4,296 9,438
Enterprise Value (EV)		 25,938 29,109 33,353 36,217 46,540 50,115 54,214 57,918 56,356 64,247 74,796
Market Capitalization		 14,058 16,482 20,086 21,521 29,073 31,395 33,600 35,727 32,900 38,455 43,691
Book Value per Share		 $20.89 $21.70 $22.56 $23.79 $25.25 $27.74 $28.98 $30.47 $31.92 $34.00 $39.91
Tangible Book Value per Share		 $20.89 $21.70 $22.56 $23.79 $25.25 $27.74 $28.98 $30.47 $31.92 $34.00 $39.91
Total Capital		 24,503 25,863 27,246 29,469 33,492 36,569 40,143 42,490 44,904 49,503 59,542
Total Debt		 13,902 14,842 15,791 17,247 20,253 21,994 24,531 25,815 27,288 29,981 35,933
Total Long-Term Debt		 12,399 14,195 14,520 15,803 18,956 20,989 22,925 23,851 25,951 28,183 33,882
Net Debt		 11,880 12,627 13,267 14,696 17,467 18,720 20,614 22,191 23,456 25,792 31,105
Capital Expenditures (CapEx)		 3,683 3,195 3,244 3,957 4,225 5,369 4,244 4,638 5,854 7,364 10,908
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 96 119 29 -156 -213 -137 510 640 -479 -629 -463
Debt-free Net Working Capital (DFNWC)		 215 242 156 78 -158 41 799 1,030 -246 -336 -24
Net Working Capital (NWC)		 -1,288 -405 -1,115 -1,366 -1,455 -964 -807 -934 -1,583 -2,134 -2,075
Net Nonoperating Expense (NNE)		 305 353 362 457 552 652 707 897 933 1,075 922
Net Nonoperating Obligations (NNO)		 12,209 12,972 13,624 15,065 17,623 19,154 21,072 22,676 23,996 26,386 31,797
Total Depreciation and Amortization (D&A)		 1,249 1,436 1,609 1,781 1,904 2,082 2,257 2,554 2,567 2,875 3,082
Debt-free, Cash-free Net Working Capital to Revenue		 0.87% 1.07% 0.25% -1.35% -1.85% -1.19% 3.80% 4.18% -3.37% -4.68% -3.16%
Debt-free Net Working Capital to Revenue		 1.95% 2.18% 1.37% 0.68% -1.37% 0.36% 5.95% 6.73% -1.73% -2.50% -0.16%
Net Working Capital to Revenue		 -11.68% -3.65% -9.78% -11.84% -12.62% -8.36% -6.01% -6.10% -11.14% -15.88% -14.15%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.94 $2.21 $2.26 $2.47 $2.64 $2.79 $2.96 $3.18 $3.21 $3.44 $3.44
Adjusted Weighted Average Basic Shares Outstanding		 507.77M 508.79M 509M 511M 519M 527M 539M 547M 552M 563M 587M
Adjusted Diluted Earnings per Share		 $1.94 $2.21 $2.25 $2.47 $2.64 $2.79 $2.96 $3.17 $3.21 $3.44 $3.42
Adjusted Weighted Average Diluted Shares Outstanding		 508.17M 509.47M 509.10M 511M 520M 528M 540M 547M 552M 563M 589M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 507.55M 507.22M 508.06M 514.21M 524.67M 537.65M 544.21M 549.85M 555.16M 574.55M 623.88M
Normalized Net Operating Profit after Tax (NOPAT)		 1,289 1,476 1,510 1,718 1,924 1,481 1,542 1,700 1,761 1,670 1,808
Normalized NOPAT Margin		 11.69% 13.29% 13.24% 14.89% 16.69% 12.85% 11.48% 11.10% 12.40% 12.43% 12.33%
Pre Tax Income Margin		 13.85% 15.34% 14.82% 12.50% 13.01% 12.73% 11.37% 10.46% 11.44% 11.41% 12.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.53 3.58 3.52 2.99 2.88 2.64 2.71 2.61 2.49 2.14 2.10
NOPAT to Interest Expense		 2.27 2.38 2.40 2.64 2.61 2.66 2.82 2.85 2.69 2.55 2.19
EBIT Less CapEx to Interest Expense		 -2.95 -1.57 -1.64 -3.08 -2.86 -4.08 -2.50 -2.40 -3.34 -4.09 -6.02
NOPAT Less CapEx to Interest Expense		 -4.21 -2.77 -2.76 -3.43 -3.13 -4.07 -2.38 -2.17 -3.14 -3.68 -5.93
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 61.69% 60.64% 62.80% 57.89% 57.65% 58.11% 58.55% 58.29% 61.66% 60.69% 63.53%
Augmented Payout Ratio		 61.69% 63.49% 62.80% 57.89% 57.65% 58.11% 58.55% 58.29% 61.66% 60.69% 63.53%

Quarterly Metrics And Ratios for Xcel Energy

This table displays calculated financial ratios and metrics derived from Xcel Energy's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 623,876,813.00 624,269,560.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 623,876,813.00 624,269,560.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.89 0.94
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -15.08% -10.56% 0.20% -0.49% -9.36% 7.04% 8.55% 7.44% 14.13% 2.94% -5.11%
EBITDA Growth		 5.37% 11.23% 18.16% 6.11% -7.03% 5.08% 15.54% -5.10% 28.09% 8.50% 2.43%
EBIT Growth		 8.65% 19.90% 9.79% 3.49% -28.20% -1.30% 36.94% -16.32% 67.23% 13.45% 15.19%
NOPAT Growth		 5.21% 9.53% 5.27% 4.11% 49.22% 7.80% 5.29% -17.83% -21.59% 6.29% 17.89%
Net Income Growth		 7.92% 16.75% 4.86% 3.96% 13.45% -1.02% 47.02% -23.17% 22.20% 15.11% 31.98%
EPS Growth		 7.25% 15.79% 3.85% 1.68% 9.46% -4.55% 38.89% -27.27% 17.28% 5.95% 24.00%
Operating Cash Flow Growth		 27.32% -31.69% 29.63% -8.48% -31.83% -2.10% -9.16% 1.61% -68.52% 65.08% 1.76%
Free Cash Flow Firm Growth		 21.33% -12.59% -26.44% -65.56% -106.32% -90.24% -93.20% -203.25% -155.96% -119.93% -93.54%
Invested Capital Growth		 5.75% 7.36% 8.05% 8.02% 10.32% 11.65% 13.10% 17.98% 20.53% 21.09% 21.39%
Revenue Q/Q Growth		 -6.01% 6.01% -17.02% 20.34% -14.38% 25.19% -15.85% 19.11% -9.04% 12.92% -22.43%
EBITDA Q/Q Growth		 -21.26% 11.32% -12.13% 37.77% -31.01% 25.83% -3.39% 13.16% -6.89% 6.59% -8.79%
EBIT Q/Q Growth		 -37.04% 19.90% -32.03% 101.70% -56.32% 64.82% -5.70% 23.26% -12.70% 11.82% -4.25%
NOPAT Q/Q Growth		 -25.08% 11.25% -11.84% 41.70% 7.38% -19.63% -13.90% 10.58% 2.48% 8.94% -4.50%
Net Income Q/Q Growth		 -37.65% 19.32% -38.11% 125.83% -31.96% 4.09% -8.07% 18.02% 8.21% -1.94% 5.40%
EPS Q/Q Growth		 -37.82% 18.92% -38.64% 124.07% -33.06% 3.70% -10.71% 17.33% 7.95% -6.32% 4.49%
Operating Cash Flow Q/Q Growth		 -48.68% 7.80% 13.33% 45.97% -61.77% 54.82% 5.16% 63.27% -88.16% 711.96% -35.18%
Free Cash Flow Firm Q/Q Growth		 -13.28% -35.93% -17.91% 8.82% -41.17% -25.34% -19.75% -43.12% -21.30% -5.79% -5.38%
Invested Capital Q/Q Growth		 2.39% 2.12% 1.82% 1.46% 4.57% 3.35% 3.14% 5.84% 6.97% 3.69% 3.39%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 44.39% 43.98% 45.97% 51.13% 41.28% 43.14% 47.43% 52.59% 37.21% 44.86% 53.06%
EBITDA Margin		 35.94% 37.74% 39.96% 45.75% 36.86% 37.05% 42.53% 40.41% 41.36% 39.05% 45.91%
Operating Margin		 16.71% 18.61% 14.83% 25.00% 11.12% 17.33% 17.55% 19.13% 16.29% 18.75% 22.64%
EBIT Margin		 16.79% 18.99% 15.55% 26.07% 13.30% 17.51% 19.62% 20.31% 19.49% 19.30% 23.82%
Profit (Net Income) Margin		 11.88% 13.37% 9.97% 18.72% 14.87% 12.37% 13.51% 13.38% 15.92% 13.83% 18.79%
Tax Burden Percent		 112.36% 105.86% 141.12% 98.55% 277.84% 114.46% 115.63% 98.50% 130.34% 109.23% 111.41%
Interest Burden Percent		 62.98% 66.52% 45.44% 72.84% 40.24% 61.70% 59.53% 66.92% 62.68% 65.59% 70.79%
Effective Tax Rate		 -12.36% -5.86% -41.12% 1.45% -177.84% -14.46% -15.63% 1.50% -30.34% -9.23% -11.41%
Return on Invested Capital (ROIC)		 6.59% 6.61% 6.92% 8.02% 9.49% 6.04% 6.14% 5.60% 6.14% 5.77% 6.80%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.57% 5.64% 5.55% 7.12% 7.51% 4.93% 5.31% 4.83% 5.50% 4.90% 6.17%
Return on Net Nonoperating Assets (RNNOA)		 7.58% 7.71% 7.72% 9.30% 10.18% 6.84% 7.27% 6.57% 7.42% 6.89% 8.68%
Return on Equity (ROE)		 14.17% 14.33% 14.64% 17.32% 19.67% 12.89% 13.41% 12.17% 13.56% 12.66% 15.48%
Cash Return on Invested Capital (CROIC)		 1.09% -0.36% -1.02% -0.99% -2.94% -4.16% -5.51% -10.25% -12.82% -13.38% -13.58%
Operating Return on Assets (OROA)		 3.81% 4.14% 3.31% 5.43% 2.67% 3.47% 3.82% 3.89% 3.78% 3.62% 4.29%
Return on Assets (ROA)		 2.70% 2.91% 2.12% 3.90% 2.98% 2.45% 2.63% 2.57% 3.09% 2.59% 3.38%
Return on Common Equity (ROCE)		 14.17% 14.33% 14.64% 17.32% 19.67% 12.89% 13.41% 12.17% 13.56% 12.66% 15.48%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 10.32% 10.33% 9.72% 0.00% 9.75% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 646 719 634 898 964 775 667 738 756 824 787
NOPAT Margin		 18.77% 19.70% 20.93% 24.64% 30.90% 19.84% 20.30% 18.84% 21.23% 20.48% 25.22%
Net Nonoperating Expense Percent (NNEP)		 1.02% 0.97% 1.37% 0.90% 1.99% 1.12% 0.84% 0.77% 0.65% 0.87% 0.63%
Return On Investment Capital (ROIC_SIMPLE)		 1.44% - - - 1.95% 1.49% 1.23% 1.30% 1.27% 1.31% 1.20%
Cost of Revenue to Revenue		 55.61% 56.02% 54.03% 48.87% 58.72% 56.86% 52.57% 47.41% 62.79% 55.14% 46.94%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 27.69% 25.38% 31.14% 26.13% 30.16% 25.81% 29.88% 33.46% 20.92% 26.11% 30.43%
Earnings before Interest and Taxes (EBIT)		 578 693 471 950 415 684 645 795 694 776 743
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,237 1,377 1,210 1,667 1,150 1,447 1,398 1,582 1,473 1,570 1,432
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.87 1.65 1.65 1.88 1.97 2.05 1.87 2.25 1.85 2.08 2.08
Price to Tangible Book Value (P/TBV)		 1.87 1.65 1.65 1.88 1.97 2.05 1.87 2.25 1.85 2.08 2.08
Price to Revenue (P/Rev)		 2.32 2.13 2.15 2.65 2.86 2.97 2.81 3.35 2.98 3.35 3.43
Price to Earnings (P/E)		 18.58 15.95 16.00 19.35 19.86 21.06 18.95 24.91 21.65 23.70 22.45
Dividend Yield		 3.49% 3.96% 4.00% 3.31% 3.23% 3.13% 3.28% 2.80% 3.83% 2.90% 2.90%
Earnings Yield		 5.38% 6.27% 6.25% 5.17% 5.03% 4.75% 5.28% 4.01% 4.62% 4.22% 4.45%
Enterprise Value to Invested Capital (EV/IC)		 1.35 1.26 1.26 1.37 1.40 1.43 1.36 1.50 1.35 1.43 1.43
Enterprise Value to Revenue (EV/Rev)		 3.97 3.88 3.95 4.38 4.78 4.94 4.77 5.45 5.10 5.57 5.80
Enterprise Value to EBITDA (EV/EBITDA)		 11.12 10.26 10.08 10.98 11.89 12.36 11.76 13.91 12.68 13.68 13.99
Enterprise Value to EBIT (EV/EBIT)		 22.52 20.40 20.45 22.40 25.40 26.85 24.72 30.55 26.54 28.32 28.16
Enterprise Value to NOPAT (EV/NOPAT)		 20.84 19.30 19.43 21.23 21.34 21.97 21.29 25.94 25.44 27.56 27.23
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.58 11.04 10.64 12.18 13.84 14.65 14.77 17.09 18.32 17.34 17.76
Enterprise Value to Free Cash Flow (EV/FCFF)		 127.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.55 1.59 1.69 1.53 1.54 1.62 1.58 1.67 1.52 1.64 1.73
Long-Term Debt to Equity		 1.47 1.53 1.60 1.47 1.44 1.53 1.53 1.61 1.44 1.54 1.58
Financial Leverage		 1.36 1.37 1.39 1.31 1.36 1.39 1.37 1.36 1.35 1.41 1.41
Leverage Ratio		 3.65 3.65 3.72 3.60 3.61 3.67 3.68 3.66 3.51 3.61 3.61
Compound Leverage Factor		 2.30 2.43 1.69 2.63 1.45 2.27 2.19 2.45 2.20 2.37 2.56
Debt to Total Capital		 60.77% 61.41% 62.82% 60.45% 60.56% 61.85% 61.24% 62.57% 60.35% 62.15% 63.31%
Short-Term Debt to Total Capital		 2.98% 2.20% 3.43% 2.45% 3.63% 3.51% 1.98% 2.35% 3.44% 3.94% 5.35%
Long-Term Debt to Total Capital		 57.79% 59.21% 59.39% 58.00% 56.93% 58.34% 59.26% 60.22% 56.90% 58.21% 57.95%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 39.23% 38.59% 37.18% 39.55% 39.44% 38.15% 38.76% 37.43% 39.65% 37.85% 36.69%
Debt to EBITDA		 5.38 5.45 5.62 5.39 5.55 5.87 5.85 6.35 6.09 6.49 6.85
Net Debt to EBITDA		 4.63 4.62 4.58 4.35 4.77 4.93 4.83 5.36 5.27 5.46 5.71
Long-Term Debt to EBITDA		 5.12 5.26 5.32 5.17 5.22 5.53 5.66 6.11 5.74 6.08 6.27
Debt to NOPAT		 10.09 10.26 10.84 10.41 9.96 10.43 10.59 11.84 12.22 13.07 13.34
Net Debt to NOPAT		 8.67 8.69 8.83 8.42 8.57 8.76 8.73 9.99 10.58 10.99 11.12
Long-Term Debt to NOPAT		 9.60 9.89 10.25 9.99 9.36 9.84 10.25 11.40 11.52 12.24 12.21
Altman Z-Score		 0.82 0.77 0.74 0.84 0.80 0.83 0.81 0.84 0.79 0.82 0.79
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.72 0.86 0.97 0.93 0.67 0.80 0.96 0.79 0.71 0.77 0.70
Quick Ratio		 0.42 0.50 0.65 0.63 0.37 0.49 0.62 0.46 0.37 0.52 0.49
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,615 -2,195 -2,588 -2,360 -3,332 -4,176 -5,001 -7,157 -8,682 -9,184 -9,678
Operating Cash Flow to CapEx		 60.35% 68.31% 64.99% 97.64% 29.95% 51.71% 44.54% 57.77% 6.08% 56.15% 37.31%
Free Cash Flow to Firm to Interest Expense		 -6.46 -7.93 -8.54 -7.74 -11.22 -13.52 -15.53 -20.57 -23.85 -24.69 -24.32
Operating Cash Flow to Interest Expense		 3.90 3.79 3.93 5.70 2.24 3.33 3.36 5.07 0.57 4.56 2.76
Operating Cash Flow Less CapEx to Interest Expense		 -2.56 -1.76 -2.12 -0.14 -5.23 -3.11 -4.18 -3.71 -8.87 -3.56 -4.64
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.23 0.22 0.21 0.21 0.20 0.20 0.19 0.19 0.19 0.19 0.18
Accounts Receivable Turnover		 6.12 6.76 7.18 7.01 6.33 6.76 7.08 7.13 6.84 7.13 7.32
Inventory Turnover		 10.87 12.71 11.94 11.12 10.59 11.97 11.72 11.22 11.27 12.05 11.00
Fixed Asset Turnover		 0.28 0.27 0.27 0.26 0.25 0.25 0.24 0.24 0.24 0.23 0.22
Accounts Payable Turnover		 4.74 5.46 5.22 4.67 4.23 4.39 4.15 3.78 3.93 3.82 3.52
Days Sales Outstanding (DSO)		 59.69 54.00 50.81 52.09 57.69 54.03 51.52 51.17 53.39 51.20 49.90
Days Inventory Outstanding (DIO)		 33.59 28.71 30.57 32.81 34.46 30.49 31.13 32.52 32.39 30.29 33.18
Days Payable Outstanding (DPO)		 77.02 66.79 69.94 78.15 86.31 83.14 87.90 96.57 92.78 95.44 103.75
Cash Conversion Cycle (CCC)		 16.25 15.92 11.44 6.75 5.84 1.38 -5.24 -12.88 -7.01 -13.94 -20.68
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 41,612 42,494 43,268 43,900 45,908 47,445 48,936 51,795 55,406 57,453 59,401
Invested Capital Turnover		 0.35 0.34 0.33 0.33 0.31 0.30 0.30 0.30 0.29 0.28 0.27
Increase / (Decrease) in Invested Capital		 2,261 2,914 3,222 3,258 4,296 4,951 5,668 7,895 9,438 10,008 10,465
Enterprise Value (EV)		 56,356 53,419 54,387 60,312 64,247 67,656 66,596 77,566 74,796 82,419 84,718
Market Capitalization		 32,900 29,361 29,677 36,405 38,455 40,673 39,277 47,699 43,691 49,561 50,129
Book Value per Share		 $31.92 $32.09 $32.31 $34.71 $34.00 $34.47 $36.34 $35.81 $39.91 $38.16 $38.54
Tangible Book Value per Share		 $31.92 $32.09 $32.31 $34.71 $34.00 $34.47 $36.34 $35.81 $39.91 $38.16 $38.54
Total Capital		 44,904 46,232 48,287 48,930 49,503 51,911 54,076 56,589 59,542 62,898 65,561
Total Debt		 27,288 28,391 30,333 29,578 29,981 32,107 33,115 35,408 35,933 39,092 41,504
Total Long-Term Debt		 25,951 27,376 28,677 28,379 28,183 30,285 32,044 34,077 33,882 36,611 37,995
Net Debt		 23,456 24,058 24,710 23,907 25,792 26,983 27,319 29,867 31,105 32,858 34,589
Capital Expenditures (CapEx)		 1,614 1,537 1,831 1,779 2,217 1,988 2,427 3,055 3,438 3,022 2,948
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -479 -293 -377 -914 -629 -787 -857 -1,404 -463 -1,171 -1,269
Debt-free Net Working Capital (DFNWC)		 -246 294 1,455 810 -336 449 852 -136 -24 727 919
Net Working Capital (NWC)		 -1,583 -721 -201 -389 -2,134 -1,373 -219 -1,467 -2,075 -1,754 -2,590
Net Nonoperating Expense (NNE)		 237 231 332 216 500 292 223 214 189 268 201
Net Nonoperating Obligations (NNO)		 23,996 24,653 25,314 24,548 26,386 27,641 27,975 30,614 31,797 33,647 35,344
Total Depreciation and Amortization (D&A)		 659 684 739 717 735 763 753 787 779 794 689
Debt-free, Cash-free Net Working Capital to Revenue		 -3.37% -2.13% -2.74% -6.64% -4.68% -5.75% -6.14% -9.87% -3.16% -7.92% -8.68%
Debt-free Net Working Capital to Revenue		 -1.73% 2.13% 10.56% 5.89% -2.50% 3.28% 6.10% -0.96% -0.16% 4.92% 6.29%
Net Working Capital to Revenue		 -11.14% -5.23% -1.46% -2.83% -15.88% -10.02% -1.57% -10.31% -14.15% -11.86% -17.72%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.74 $0.88 $0.54 $1.21 $0.81 $0.84 $0.76 $0.88 $0.96 $0.89 $0.94
Adjusted Weighted Average Basic Shares Outstanding		 552M 556M 557M 564M 563M 575M 586M 592M 587M 624M 625M
Adjusted Diluted Earnings per Share		 $0.74 $0.88 $0.54 $1.21 $0.81 $0.84 $0.75 $0.88 $0.95 $0.89 $0.93
Adjusted Weighted Average Diluted Shares Outstanding		 552M 556M 557M 565M 563M 577M 588M 595M 589M 626M 627M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 555.16M 555.64M 557.50M 574.24M 574.55M 576.76M 591.43M 591.54M 623.88M 624.27M 624.63M
Normalized Net Operating Profit after Tax (NOPAT)		 403 475 314 898 243 474 404 1,020 406 512 496
Normalized NOPAT Margin		 11.69% 13.03% 10.38% 24.64% 7.79% 12.13% 12.29% 26.06% 11.40% 12.74% 15.91%
Pre Tax Income Margin		 10.58% 12.63% 7.07% 18.99% 5.35% 10.80% 11.68% 13.59% 12.22% 12.66% 16.86%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.31 2.50 1.55 3.11 1.40 2.21 2.00 2.28 1.91 2.09 1.87
NOPAT to Interest Expense		 2.58 2.59 2.09 2.94 3.25 2.51 2.07 2.12 2.08 2.21 1.98
EBIT Less CapEx to Interest Expense		 -4.14 -3.05 -4.49 -2.72 -6.07 -4.22 -5.53 -6.49 -7.54 -6.04 -5.54
NOPAT Less CapEx to Interest Expense		 -3.87 -2.95 -3.95 -2.89 -4.22 -3.93 -5.47 -6.66 -7.37 -5.91 -5.43
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 61.66% 60.46% 60.97% 61.08% 60.69% 62.20% 59.09% 65.69% 63.53% 63.27% 61.13%
Augmented Payout Ratio		 61.66% 60.46% 60.97% 61.08% 60.69% 62.20% 59.09% 65.69% 63.53% 63.27% 61.13%

Financials Breakdown Chart

Key Financial Trends

Xcel Energy’s latest quarter shows solid earnings, strong operating cash flow, and continued heavy investment spending. In Q1 2026, revenue rose to $4.02 billion from $3.56 billion in Q4 2025, while net income was essentially flat at $556 million versus $567 million in the prior quarter. The bigger picture is that Xcel remains in a capital-intensive phase: operating cash flow is healthy, but free cash flow is pressured by large utility infrastructure investments and ongoing financing needs.

  • Revenue improved year over year and sequentially. Q1 2026 revenue of $4.02 billion was up from $3.56 billion in Q4 2025 and above Q1 2025 revenue of $3.91 billion.
  • Operating cash flow was strong. Xcel generated $1.70 billion in operating cash in Q1 2026, a meaningful improvement from $209 million in Q4 2025 and $1.03 billion in Q1 2025.
  • Net income remained stable. Q1 2026 net income of $556 million was close to Q4 2025’s $567 million, showing earnings resilience despite higher costs and interest expense.
  • Dividend coverage appears manageable at the earnings level. Quarterly EPS of $0.89 versus dividends of $0.59 per share suggests earnings still cover the payout in the latest quarter.
  • Liquidity improved. Cash and equivalents rose to $1.76 billion in Q1 2026 from $1.05 billion at Q3 2025 and just $179 million at year-end 2024.
  • Plant investment remains very high. Capital spending was $3.02 billion in Q1 2026, continuing a pattern of large quarterly utility infrastructure investment.
  • Debt remains a major part of the capital structure. Long-term debt increased to $34.55 billion in Q1 2026, up from $31.03 billion in Q2 2025 and $27.32 billion at year-end 2024.
  • Equity rose, but leverage is still meaningful. Total common equity increased to $23.81 billion from $20.96 billion in Q2 2025, helped by earnings and equity issuance.
  • Free cash flow remains negative after capital spending. Even with strong operating cash flow, Xcel’s heavy capex continues to exceed cash from operations in the quarter.
  • Interest costs are still a burden. Q1 2026 interest expense was $372 million, up from $364 million in Q4 2025 and above the $309 million level in Q1 2025.

Longer-term trend: Over the last four years, Xcel has consistently grown its asset base, debt load, and equity base while maintaining relatively steady profitability for a regulated utility. Revenue has generally trended upward from 2023 to 2026, earnings have stayed in a fairly narrow band, and depreciation plus capital spending have remained elevated. That combination is typical for a utility, but it also means investors should expect modest earnings growth, high financing needs, and continued sensitivity to interest rates and regulatory outcomes.

Bottom line: Xcel Energy looks financially stable, with dependable earnings and strong operating cash generation, but investors should not ignore the balance-sheet and cash-flow pressure created by ongoing infrastructure spending and rising debt. For income-focused investors, the dividend still appears supported by earnings, though capital intensity remains the key risk.

08/01/26 03:55 AM ETAI Generated. May Contain Errors.

Xcel Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Xcel Energy's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Xcel Energy's net income appears to be on an upward trend, with a most recent value of $2.02 billion in 2025, rising from $984 million in 2015. The previous period was $1.94 billion in 2024. View Xcel Energy's forecast to see where analysts expect Xcel Energy to go next.

Xcel Energy's total operating income in 2025 was $2.58 billion, based on the following breakdown:
  • Total Gross Profit: $6.63 billion
  • Total Operating Expenses: $4.05 billion

Over the last 10 years, Xcel Energy's total revenue changed from $11.02 billion in 2015 to $14.67 billion in 2025, a change of 33.1%.

Xcel Energy's total liabilities were at $57.76 billion at the end of 2025, a 14.4% increase from 2024, and a 104.7% increase since 2015.

In the past 10 years, Xcel Energy's cash and equivalents has ranged from $0.00 in 2019 to $274 million in 2025, and is currently $274 million as of their latest financial filing in 2025.

Over the last 10 years, Xcel Energy's book value per share changed from 20.89 in 2015 to 39.91 in 2025, a change of 91.1%.


Related Companies

Financial statements for NASDAQ:XEL last updated on 7/30/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
ALERT: Drop these 5 stocks before the market opens tomorrow!
The Wall Street Journal is already raising the alarm about a potential market crash, and Weiss Ratings researc...
Weiss Ratings | Sponsoredtc pixel
Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
InvestorPlace | Sponsoredtc pixel
Trump Takes Emergency Action - Plus Elon Musk's New Venture
Elon Musk has quietly launched a new venture - one that has nothing to do with rockets, EVs, or Neuralink. Tru...
Altimetry | Sponsoredtc pixel
Ready to give options a try? Your first trade (Ticker included) -INSIDE
Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and st...
Base Camp Trading | Sponsoredtc pixel
My top 3 AI picks for the next decade
Alexander Green bought Apple in 1996, recommended Nvidia at a split-adjusted 66 cents in 2004, and picked up A...
The Oxford Club | Sponsoredtc pixel
Elon's new "super startup"
Adam O'Dell - the analyst who recommended Palantir before it became the top S&P 500 performer - has identified...
Banyan Hill Publishing | Sponsoredtc pixel
“The unseen winner of the AI race” is not SpaceX
Marc Chaikin - the analyst who called Nvidia before its historic run - says a tech firm labeled 'the unseen wi...
Chaikin Analytics | Sponsoredtc pixel
Where to Put $100 Before Trump's New Tech Law Rolls Out
The Financial Times says a new tech law puts America 'on the verge of a financial revolution.' Yahoo Finance e...
Brownstone Research | Sponsoredtc pixel