Friday 6 November 2026 Export XEL’s income statement to Excel — free account

Xcel Energy Inc.

XEL Utilities Utilities Regulated Electric

Xcel Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.7 billion, up 9.14% from fiscal 2024.

Revenue: +6.56%
EPS: +71.5%
Free cash flow: +5.89%
Total debt: +21.7%

Quarter to September 2026, against a year earlier

80.30 0.20 −0.25%

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Market cap: $51.6B
P/E: 18.6×
Fwd P/E: 19.5×
Dividend yield: 2.92%
F-score: 5/9
Altman Z: 0.86
Beneish M: −2.50
Dividend safety: 38/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Xcel Energy Inc. (XEL) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2018: revenue by segment, and margins
Regulated Electric	9,719	84.24%
Regulated Natural Gas	1,739	15.07%
All Other	79	0.68%
Gross margin		58.98%
Operating margin		17.03%
Pre-tax margin		12.50%

Revenue by product or service $m

Line	FY2017	FY2016
Electricity, US Regulated	9,676 84.85%	9,500 85.53%
Natural Gas, US Regulated	1,650 14.47%	1,531 13.78%
Product and Service, Other	78 0.68%	76 0.68%
Revenue	11,404	11,107

Revenue by segment $m

Line	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Regulated Electric	9,719 84.24%	9,676 84.85%	9,500 85.53%	9,276 84.14%	9,466 81.00%	9,034 82.77%	8,517 84.09%	8,768 82.29%	8,453 81.98%	7,706 79.90%
Regulated Natural Gas	1,739 15.07%	1,650 14.47%	1,531 13.78%	1,672 15.17%	2,143 18.34%	1,805 16.53%	1,537 15.18%	1,814 17.03%	1,788 17.34%	1,869 19.38%
All Other	79 0.68%	78 0.68%	76 0.68%	76 0.69%	78 0.66%	76 0.70%	74 0.73%	76 0.72%	77 0.74%	74 0.77%
Business Intersegment, Eliminations [Member] (Deprecated 2012-01-31)	—	—	—	—	—	—	—	—	(7) (0.06%)	(4) (0.04%)
Revenue	11,537	11,404	11,107	11,024	11,686	10,915	10,128	10,655	10,311	9,644

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Electric C&I	Q3 FY2026	5.40%	1.00%	—
Electric C&I	Q3 FY2026	2.90%	1.90%	—
Firm natural gas sales	Q3 FY2026	−3.80%	4.00%	—
Firm natural gas sales	Q3 FY2026	−2.20%	1.20%	—
Total retail electric sales	Q3 FY2026	7.30%	1.10%	—
Total retail electric sales	Q3 FY2026	3.00%	2.20%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q3 FY2023
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Electric C&I	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Firm natural gas sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Firm natural gas sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total retail electric sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total retail electric sales	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.