Xcel Energy Inc. (XEL) reported $14.87B of revenue for the twelve months ended Sep 30, 2026. That is up 4.5% from the year before. Revenue for fiscal 2025 was $14.67B.

Yes. Xcel Energy Inc. earned $2.67B in net income for the twelve months ended Sep 30, 2026, a net margin of 17.9%.

How much cash and debt does XEL have?

Xcel Energy Inc. reported $2.48B in cash and cash equivalents and $39.60B of debt on its most recent balance sheet in SEC filings.

How fast is XEL revenue growing?

Xcel Energy Inc.'s revenue changed +9.1% in fiscal 2025, to $14.67B. Its compound annual growth rate was +4.9% over 5 years and +2.9% over 10 years.

What is XEL free cash flow?

Xcel Energy Inc. generated -$7.62B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $5.08B less capital expenditures.

What is XEL earnings per share?

Diluted earnings per share were $4.29 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did XEL last report financial results?

The latest statements here come from Xcel Energy Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.

Where does this XEL financial data come from?

Quantisnow builds these statements from the structured XBRL data Xcel Energy Inc. files with the SEC. It is provided for information only and is not investment advice.

Financials · XEL

Xcel Energy Inc. (XEL) financials

For the twelve months ended Sep 30, 2026, Xcel Energy Inc. reported $14.87B of revenue and $2.67B of net income.

Revenue, TTM: $14.87B
Revenue growth, YoY: +4.5%
Net income, TTM: $2.67B
Net income growth, YoY: +39.4%
Net margin: 17.9%
Free cash flow, TTM: -$7.62B
EPS, diluted, TTM: $4.29
EPS growth, YoY: +30.8%
Cash: $2.48B
Total debt: $39.60B
P/E: 19.16
P/S: 3.44
Market cap: $51.13B

Annual revenue$14.67B

FY2016FY2025

Annual net income$2.02B

FY2016FY2025

Annual free cash flow-$6.83B

FY2016FY2025

XEL revenue and earnings growth

XEL revenueQ3 2026$4.17B

Quarter YoY: +6.6%
QoQ: +33.8%
FY YoY: +9.1%
5Y CAGR: +4.9%
10Y CAGR: +2.9%

XEL revenue was $4.17B in fiscal Q3 2026 (ended Sep 30, 2026), up 6.6% from a year earlier and up 33.8% from the prior quarter. For the full fiscal 2025 it was $14.67B, up 9.1% from fiscal 2024. Compound annual growth was +4.9% over 5 years and +2.9% over 10 years. It rose in 6 of the last 10 fiscal years.

XEL net incomeQ3 2026$960.00M

Quarter YoY: +83.2%
QoQ: +63.8%
FY YoY: +4.2%
5Y CAGR: +6.5%
10Y CAGR: +7.4%

XEL net income was $960.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 83.2% from a year earlier and up 63.8% from the prior quarter. For the full fiscal 2025 it was $2.02B, up 4.2% from fiscal 2024. Compound annual growth was +6.5% over 5 years and +7.4% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

XEL EPSQ3 2026$1.52

Quarter YoY: +72.7%
QoQ: +63.4%
FY YoY: -0.6%
5Y CAGR: +4.2%
10Y CAGR: +5.8%

XEL diluted EPS was $1.52 in fiscal Q3 2026 (ended Sep 30, 2026), up 72.7% from a year earlier and up 63.4% from the prior quarter. For the full fiscal 2025 it was $3.42, down 0.6% from fiscal 2024. Compound annual growth was +4.2% over 5 years and +5.8% over 10 years.

XEL free cash flowQ3 2026-$1.21B

XEL free cash flow was -$1.21B in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.29B a year earlier. For the full fiscal 2025 it was -$6.83B, compared with -$2.72B in fiscal 2024.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$14.67B	$13.44B	$14.21B	$15.31B	$13.43B	$11.53B	$11.53B	$11.54B	$11.40B	$11.11B
Cost of revenue	-	-	-	-	-	-	-	$3.85B	$3.76B	$3.72B
Gross profit	-	-	-	-	-	-	-	$7.68B	$7.65B	$7.39B
Operating income	$2.58B	$2.39B	$2.48B	$2.43B	$2.20B	$2.12B	$2.10B	$1.97B	$2.22B	$2.24B
Interest expense	$1.47B	$1.25B	$1.05B	$953.00M	$842.00M	$840.00M	$773.00M	$700.00M	$663.00M	$647.00M
Pre-tax income	$1.77B	$1.53B	$1.63B	$1.60B	$1.53B	$1.47B	$1.50B	$1.44B	$1.69B	$1.70B
Income tax	-$245.00M	-$402.00M	-$146.00M	-$135.00M	-$70.00M	-$6.00M	$128.00M	$181.00M	$542.00M	$581.00M
Net income	$2.02B	$1.94B	$1.77B	$1.74B	$1.60B	$1.47B	$1.37B	$1.26B	$1.15B	$1.12B
EPS, basic	$3.44	$3.44	$3.21	$3.18	$2.96	$2.79	$2.64	$2.47	$2.26	$2.21
EPS, diluted	$3.42	$3.44	$3.21	$3.17	$2.96	$2.79	$2.64	$2.47	$2.25	$2.21
Diluted shares	589.0M	563.0M	552.0M	547.0M	540.0M	528.0M	520.0M	511.0M	509.0M	509.0M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$274.00M	$179.00M	$129.00M	$111.00M	$166.00M	$129.00M	$248.00M	$147.00M	$83.00M	$85.00M
Receivables	$1.33B	$1.25B	$1.31B	$1.37B	$1.02B	$916.00M	$837.00M	$860.00M	$797.00M	$776.00M
Inventory	$761.00M	$666.00M	$711.00M	$803.00M	$631.00M	$535.00M	$544.00M	$548.00M	$610.00M	$604.00M
Current assets	$5.01B	$4.33B	$4.07B	$5.14B	$4.24B	$3.27B	$3.11B	$3.09B	$2.97B	$2.84B
Total assets	$81.37B	$70.03B	$64.08B	$61.19B	$57.85B	$53.96B	$50.45B	$45.99B	$43.03B	$41.16B
Current liabilities	$7.09B	$6.46B	$5.65B	$6.08B	$5.05B	$4.24B	$4.57B	$4.46B	$4.09B	$3.25B
Short-term debt	$1.55B	$695.00M	$785.00M	$813.00M	$1.00B	$584.00M	$595.00M	$1.04B	$814.00M	$392.00M
Long-term debt	$31.83B	$27.32B	$24.91B	$22.81B	$21.78B	$19.64B	$17.41B	$15.80B	$14.52B	$14.20B
Total debt	$33.38B	$28.01B	$25.70B	$23.63B	$22.78B	$20.23B	$18.00B	$16.84B	$15.33B	$14.59B
Total liabilities	$57.76B	$50.51B	$46.46B	$44.51B	$42.24B	$39.38B	$37.21B	$33.77B	$31.57B	$30.13B
Shareholders' equity	$23.61B	$19.52B	$17.62B	$16.68B	$15.61B	$14.57B	$13.24B	$12.22B	$11.46B	$11.02B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$4.08B	$4.64B	$5.33B	$3.93B	$2.19B	$2.85B	$3.26B	$3.12B	$3.13B	$3.05B
Capital expenditures	$10.91B	$7.36B	$5.85B	$4.64B	$4.24B	$5.37B	$4.22B	$3.96B	$3.24B	$3.19B
Free cash flow	-$6.83B	-$2.72B	-$527.00M	-$706.00M	-$2.06B	-$2.52B	-$962.00M	-$835.00M	-$118.00M	-$143.00M
Investing cash flow	-$10.97B	-$7.43B	-$5.93B	-$4.65B	-$4.29B	-$4.74B	-$4.34B	-$3.99B	-$3.30B	-$3.26B
Financing cash flow	$6.98B	$2.84B	$617.00M	$666.00M	$2.13B	$1.77B	$1.18B	$928.00M	$168.00M	$209.00M
Dividends paid	$1.28B	$1.18B	$1.09B	$1.01B	$935.00M	$856.00M	$791.00M	$730.00M	$721.00M	$681.00M
Share repurchases	-	-	-	-	-	-	-	$1.00M	$3.00M	$32.00M
Stock-based compensation	$46.00M	$33.00M	$25.00M	$20.00M	$31.00M	$73.00M	$58.00M	$45.00M	$57.00M	$41.00M
Depreciation and amortization	$2.97B	$2.77B	$2.47B	$2.44B	$2.14B	$1.96B	$1.78B	$1.66B	$1.50B	$1.32B

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	9.1%	-5.4%	-7.2%	14.0%	16.5%	-0.0%	-0.1%	1.2%	2.7%	0.8%
Net income growth, YoY	4.2%	9.3%	2.0%	8.7%	8.4%	7.4%	8.8%	9.8%	2.2%	14.1%
EPS growth, YoY	-0.6%	7.2%	1.3%	7.1%	6.1%	5.7%	6.9%	9.8%	1.8%	13.9%
Gross margin	-	-	-	-	-	-	-	66.6%	67.1%	66.5%
Operating margin	17.6%	17.8%	17.5%	15.9%	16.4%	18.4%	18.2%	17.0%	19.5%	20.2%
Net margin	13.8%	14.4%	12.5%	11.3%	11.9%	12.8%	11.9%	10.9%	10.1%	10.1%
Free cash flow margin	-46.5%	-20.3%	-3.7%	-4.6%	-15.3%	-21.9%	-8.3%	-7.2%	-1.0%	-1.3%
Return on equity	8.5%	9.9%	10.1%	10.4%	10.2%	10.1%	10.4%	10.3%	10.0%	10.2%
Return on assets	2.5%	2.8%	2.8%	2.8%	2.8%	2.7%	2.7%	2.7%	2.7%	2.7%
Current ratio	0.71	0.67	0.72	0.85	0.84	0.77	0.68	0.69	0.73	0.88
Debt to equity	1.41	1.43	1.46	1.42	1.46	1.39	1.36	1.38	1.34	1.32

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$4.17B	$3.12B	$4.02B	$3.56B	$3.92B	$3.29B	$3.91B	$3.12B	$3.64B	$3.03B	$3.65B	$3.44B
Operating income	$1.19B	$706.00M	$754.00M	$580.00M	$749.00M	$577.00M	$677.00M	$347.00M	$911.00M	$449.00M	$679.00M	$575.00M
Interest expense	$484.00M	$443.00M	$412.00M	$403.00M	$384.00M	$349.00M	$332.00M	$319.00M	$326.00M	$319.00M	$291.00M	$265.00M
Pre-tax income	$1.03B	$526.00M	$509.00M	$435.00M	$532.00M	$384.00M	$422.00M	$167.00M	$692.00M	$214.00M	$461.00M	$364.00M
Income tax	$69.00M	-$60.00M	-$47.00M	-$132.00M	$8.00M	-$60.00M	-$61.00M	-$297.00M	$10.00M	-$88.00M	-$27.00M	-$45.00M
Net income	$960.00M	$586.00M	$556.00M	$567.00M	$524.00M	$444.00M	$483.00M	$464.00M	$682.00M	$302.00M	$488.00M	$409.00M
EPS, basic	$1.53	$0.94	$0.89	$0.96	$0.88	$0.76	$0.84	$0.81	$1.21	$0.54	$0.88	$0.74
EPS, diluted	$1.52	$0.93	$0.89	$0.95	$0.88	$0.75	$0.84	$0.81	$1.21	$0.54	$0.88	$0.74
Diluted shares	632.0M	627.0M	626.0M	-	595.0M	588.0M	577.0M	-	565.0M	557.0M	556.0M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$2.48B	$2.01B	$1.76B	$274.00M	$1.05B	$1.45B	$1.12B	$179.00M	$1.54B	$1.60B	$501.00M	$129.00M
Receivables	$1.39B	$1.25B	$1.35B	$1.33B	$1.25B	$1.13B	$1.29B	$1.25B	$1.19B	$1.14B	$1.22B	$1.31B
Inventory	$827.00M	$745.00M	$709.00M	$761.00M	$723.00M	$668.00M	$625.00M	$666.00M	$638.00M	$622.00M	$623.00M	$711.00M
Current assets	$6.74B	$6.08B	$5.88B	$5.01B	$5.68B	$5.67B	$5.37B	$4.33B	$5.47B	$5.70B	$4.49B	$4.07B
Total assets	$90.72B	$87.17B	$84.83B	$81.37B	$79.15B	$75.34B	$72.75B	$70.03B	$69.29B	$67.93B	$65.58B	$64.08B
Current liabilities	$9.74B	$8.67B	$7.64B	$7.09B	$7.15B	$5.89B	$6.74B	$6.46B	$5.86B	$5.90B	$5.21B	$5.65B
Short-term debt	$3.06B	$2.51B	$1.48B	$1.55B	$1.33B	$820.00M	$719.00M	$695.00M	$95.00M	$802.00M	$463.00M	$785.00M
Long-term debt	$36.54B	$35.95B	$34.55B	$31.83B	$32.03B	$31.10B	$29.40B	$27.32B	$27.47B	$27.72B	$26.40B	$24.91B
Total debt	$39.60B	$38.46B	$36.03B	$33.38B	$33.36B	$31.92B	$30.11B	$28.01B	$27.57B	$28.52B	$26.86B	$25.70B
Total liabilities	$65.22B	$63.11B	$61.02B	$57.76B	$57.97B	$54.38B	$52.95B	$50.51B	$49.93B	$49.97B	$47.74B	$46.46B
Shareholders' equity	$25.50B	$24.06B	$23.81B	$23.61B	$21.18B	$20.96B	$19.80B	$19.52B	$19.35B	$17.95B	$17.84B	$17.62B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$2.07B	$1.10B	$1.70B	$209.00M	$1.76B	$1.08B	$1.03B	$664.00M	$1.74B	$1.19B	$1.05B	$974.00M
Capital expenditures	$3.29B	$2.95B	$3.02B	$3.44B	$3.06B	$2.43B	$1.99B	$2.22B	$1.78B	$1.83B	$1.54B	$1.61B
Free cash flow	-$1.21B	-$1.85B	-$1.32B	-$3.23B	-$1.29B	-$1.35B	-$960.00M	-$1.55B	-$42.00M	-$641.00M	-$487.00M	-$640.00M
Investing cash flow	-$3.27B	-$2.94B	-$3.02B	-$3.48B	-$3.06B	-$2.44B	-$1.99B	-$2.23B	-$1.79B	-$1.85B	-$1.56B	-$1.63B
Financing cash flow	$1.67B	$2.09B	$2.81B	$2.49B	$895.00M	$1.69B	$1.91B	$201.00M	$4.00M	$1.75B	$878.00M	$195.00M
Dividends paid	$362.00M	$361.00M	$347.00M	$328.00M	$329.00M	$319.00M	$306.00M	$304.00M	$296.00M	$295.00M	$280.00M	$278.00M
Stock-based compensation	$15.00M	$12.00M	$11.00M	$8.00M	$17.00M	$12.00M	$9.00M	$6.00M	$10.00M	$11.00M	$6.00M	$8.00M
Depreciation and amortization	$822.00M	$657.00M	$767.00M	$752.00M	$755.00M	$727.00M	$734.00M	$714.00M	$685.00M	$706.00M	$664.00M	$647.00M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	6.6%	-5.1%	2.9%	14.1%	7.4%	8.6%	7.0%	-9.4%	-0.5%	0.2%	-10.6%	-15.1%
Net income growth, YoY	83.2%	32.0%	15.1%	22.2%	-23.2%	47.0%	-1.0%	13.4%	4.0%	4.9%	16.7%	7.9%
EPS growth, YoY	72.7%	24.0%	6.0%	17.3%	-27.3%	38.9%	-4.5%	9.5%	1.7%	3.8%	15.8%	7.2%
Operating margin	28.5%	22.6%	18.8%	16.3%	19.1%	17.6%	17.3%	11.1%	25.0%	14.8%	18.6%	16.7%
Net margin	23.0%	18.8%	13.8%	15.9%	13.4%	13.5%	12.4%	14.9%	18.7%	10.0%	13.4%	11.9%
Free cash flow margin	-29.1%	-59.2%	-33.0%	-90.7%	-33.0%	-40.9%	-24.6%	-49.8%	-1.2%	-21.2%	-13.3%	-18.6%
Current ratio	0.69	0.70	0.77	0.71	0.79	0.96	0.80	0.67	0.93	0.97	0.86	0.72
Debt to equity	1.55	1.60	1.51	1.41	1.58	1.52	1.52	1.43	1.42	1.59	1.51	1.46

Source: XBRL data Xcel Energy Inc. files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

XEL peers

Company	Revenue	Growth	Net income	Net margin	Market cap
XEL	$14.87B	+4.5%	$2.67B	17.9%	$51.13B
DUKDuke Energy Corporation (Holding Company)	$33.17B	+7.2%	$5.14B	15.5%	$99.63B
EXCExelon Corporation	$24.79B	+4.6%	$2.78B	11.2%	$47.21B
EDConsolidated Edison Inc.	$18.23B	+8.7%	$2.29B	12.6%	$43.85B
WECWEC Energy Group Inc.	$10.32B	+8.1%	$1.81B	17.5%	$38.12B
PEGPublic Service Enterprise Group Incorporated	$13.03B	+15.3%	$2.01B	15.4%	$36.20B
PCGPacific Gas & Electric Co.	$25.84B	+5.7%	$3.08B	11.9%	$34.75B
AEEAmeren Corporation	$8.75B	+3.8%	$1.56B	17.9%	$31.24B
CMSCMS Energy Corporation	$8.81B	+9.9%	$1.03B	11.6%	$21.70B

XEL FAQ

8 questions

What is XEL revenue?
Xcel Energy Inc. (XEL) reported $14.87B of revenue for the twelve months ended Sep 30, 2026. That is up 4.5% from the year before. Revenue for fiscal 2025 was $14.67B.
Is XEL profitable?
Yes. Xcel Energy Inc. earned $2.67B in net income for the twelve months ended Sep 30, 2026, a net margin of 17.9%.
How much cash and debt does XEL have?
Xcel Energy Inc. reported $2.48B in cash and cash equivalents and $39.60B of debt on its most recent balance sheet in SEC filings.
How fast is XEL revenue growing?
Xcel Energy Inc.'s revenue changed +9.1% in fiscal 2025, to $14.67B. Its compound annual growth rate was +4.9% over 5 years and +2.9% over 10 years.
What is XEL free cash flow?
Xcel Energy Inc. generated -$7.62B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $5.08B less capital expenditures.
What is XEL earnings per share?
Diluted earnings per share were $4.29 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did XEL last report financial results?
The latest statements here come from Xcel Energy Inc.'s 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.
Where does this XEL financial data come from?
Quantisnow builds these statements from the structured XBRL data Xcel Energy Inc. files with the SEC. It is provided for information only and is not investment advice.