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XEL · Xcel Energy Inc · Financials

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$70.55 +0.07 (+0.10%) At close · Oct 1
Market Cap
$43.60B
Shares
624.63M
Volume · Oct 1 4.09M Avg daily vol (3M) 5.24M

Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.

Revenue
$11.54B +1.2%
FY2018 Revenue FY2007–FY2018
Net Income
$2.02B +4.2%
FY2025 Net Income FY2007–FY2025
Gross Margin
66.59% -0.5pp
FY2018 Gross Margin FY2016–FY2018
Operating Margin
17.03% -2.5pp
FY2018 Operating Margin FY2007–FY2018
Diluted EPS
$3.42 -0.6%
FY2025 Diluted EPS FY2007–FY2025
Operating Cash Flow
$4.08B -12%
FY2025 Operating Cash Flow FY2007–FY2025

Chart any reported metric, KPI or segment over time — the full statement history lives here

Line Item FY2026 (G) TTM FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017 FY2016 FY2015 FY2014 FY2013 FY2012 FY2011 FY2010 FY2009 FY2008 FY2007
— $11.61B — — — — — — — $11.54B $11.4B $11.11B $11.02B $11.69B $10.91B $10.13B $10.65B $10.31B $9.64B $11.2B $10.03B
— — — — — — — — — $3.85B $3.76B $3.72B — — — — — — — — —
— — — — — — — — — $7.68B $7.65B $7.39B — — — — — — — — —
— — — — — — — — — 66.59% 67.06% 66.53% — — — — — — — — —
— $2.93B $2.97B $2.77B $2.47B $2.44B $2.14B $1.96B $1.79B $1.66B $1.5B $1.32B $1.14B $1.04B $1B $943.7M $908.85M $872.19M $835.6M $828.38M $805.73M
— $11.83B $12.09B $11.06B $11.73B $12.88B $11.23B $9.41B $9.43B $9.57B $9.18B $8.87B $9.02B $9.74B $9.07B $8.31B $8.87B $8.69B $8.18B $9.81B $8.68B
— $2.79B $2.58B $2.39B $2.48B $2.43B $2.2B $2.12B $2.1B $1.97B $2.22B $2.24B $2B $1.95B $1.85B $1.82B $1.78B $1.62B $1.47B $1.39B $1.35B
— — — — — — — — — 17.03% 19.49% 20.17% 18.14% 16.67% 16.93% 18% 16.72% 15.71% 15.23% 12.41% 13.46%
— $5.72B $5.55B $5.16B $4.95B $4.86B $4.35B $4.08B $3.89B $3.62B $3.72B $3.56B $3.14B $2.98B $2.85B $2.77B $2.69B $2.49B $2.3B $2.22B $2.16B
— $1.64B $1.47B $1.26B $1.06B $953M $842M $840M $773M $700M $663M $647M $595M $566.61M $575.2M $601.55M $591.3M $577.29M $561.65M $552.92M $520.04M
— $219M $235M $143M $22M -$13M $5M -$6M $16M -$14M -$10M -$18M $6M $5.3M $2.97M $6.18M $9.26M $31.14M $9.77M $40.41M $9.05M
— $115M $17M $19M $35M $36M $62M $40M $39M $35M $30M $42M $34M $30.15M $30.02M $29.97M $30.53M $29.95M $24.66M $3.57M $1.9M
— $2B $1.77B $1.53B $1.63B $1.6B $1.53B $1.47B $1.5B $1.44B $1.69B $1.7B $1.53B $1.55B $1.43B $1.36B $1.31B $1.19B $1.06B — —
— -$231M -$245M -$402M -$146M -$135M -$70M -$6M $128M $181M $542M $581M $543M $523.82M $483.98M $450.2M $468.32M $436.64M $371.31M $338.69M $294.48M
— $2.23B $2.02B $1.94B $1.77B $1.74B $1.6B $1.47B $1.37B $1.26B $1.15B $1.12B $984M $1.02B $948.23M $905.23M $841.17M $755.83M $680.89M $645.55M $577.35M
— — — — — — — — — 10.93% 10.07% 10.11% 8.93% 8.74% 8.69% 8.94% 7.89% 7.33% 7.06% 5.76% 5.75%
— $1.24B — — — — — — — — $1.15B $1.12B $984M $1.02B $948.23M $905.23M $834.38M $751.59M $676.65M $641.31M $573.11M
— $2.24B $2.02B $1.96B $1.77B $1.77B $1.62B $1.47B $1.36B $1.26B $1.16B $1.12B $982M $1.02B $954.61M $886.61M $800.23M $752.45M $684.85M $613.67M $571.89M
USD/shares — $3.67 $3.44 $3.44 $3.21 $3.18 $2.96 $2.79 $2.64 $2.47 $2.26 $2.21 $1.94 $2.03 $1.91 $1.86 $1.72 $1.63 $1.48 $1.47 $1.38
USD/shares $4.04 – $4.16* $3.65 $3.42 $3.44G $3.21G $3.17G $2.96G $2.79G $2.64 $2.47 $2.25 $2.21 $1.94 $2.03 $1.91 $1.85 $1.72 $1.62 $1.48 $1.46 $1.35
shares — — 587M 563M 552M 547M 539M 527M 519M 511M 509M 509M 507.8M 503.85M 496.07M 487.9M 485.04M 462.05M 456.43M 437.05M 416.14M
shares — — 589M 563M 552M 547M 540M 528M 520M 511M 509M 509M 508.2M 504.12M 496.53M 488.43M 485.62M 463.39M 457.14M 441.81M 433.13M
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing. TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.

Capital Returned to Shareholders

Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $54.53M in buybacks, $13.53B in dividends.

Debt Profile

Completed filing coverage through Feb 25, 2026 · latest terminal result Aug 20, 2026

Annual debt figures are established from 10-K filings and updated by subsequent 10-Q and 8-K disclosures. Instrument balances are not summed into a company total unless the filing itself reports that total.

Debt data is being processed. Please check back later.
1 filing has incomplete source or extraction coverage. Verified observations are shown; missing observations do not establish that debt was unchanged.

5.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series due 2056

Note · Xcel Energy Inc.

Reference: 5.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series due 2056

Active
Outstanding
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Commitment
—
Availability
—
Maturity
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Documents and filing history
  1. Issuance · 2026-03-03 Outstanding — · carrying — Exact source document Parent 8-K filing · 2026-03-03
    On March 3, 2026, Xcel Energy Inc., a Minnesota corporation (“Xcel Energy”), issued $800,000,000 in aggregate principal amount of 5.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series due 2056 (the “notes”), pursuant to an Underwriting Agreement, dated February 26, 2026, by and among Xcel Energy and Barclays Capital Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Truist Securities, Inc., as representatives of the underwriters named therein. The notes are being issued pursuant to the registration statement on Form S-3 (File No. 333-278797). A prospectus supplement relating to the offering and sale of the notes was filed with the Securities and Exchange Commission on February 26, 2026. The notes will be governed by Xcel Energy’s Junior Subordinated Indenture, dated as of October 1, 2025, between Xcel Energy and U.S. Bank Trust Company, National Association, as trustee, and Supplemental Indenture No. 2, dated as of March 3, 2026.
    Issuer evidence: On March 3, 2026, Xcel Energy Inc., a Minnesota corporation (“Xcel Energy”), issued $800,000,000 in aggregate principal amount of 5.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series due 2056 (the “notes”), pursuant to an Underwriting Agreement, dated February 26, 2026, by and among Xcel Energy and Barclays Capital Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Truist Securities, Inc., as representatives of the underwriters named therein.
    Supporting evidence: On March 3, 2026, Xcel Energy Inc., a Minnesota corporation (“Xcel Energy”), issued $800,000,000 in aggregate principal amount of 5.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series due 2056 (the “notes”), pursuant to an Underwriting Agreement, dated February 26, 2026, by and among Xcel Energy and Barclays Capital Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Truist Securities, Inc., as representatives of the underwriters named therein. The notes are being issued pursuant to the registration statement on Form S-3 (File No. 333-278797). A prospectus supplement relating to the offering and sale of the notes was filed with the Securities and Exchange Commission on February 26, 2026. The notes will be governed by Xcel Energy’s Junior Subordinated Indenture, dated as of October 1, 2025, between Xcel Energy and U.S. Bank Trust Company, National Association, as trustee, and Supplemental Indenture No. 2, dated as of March 3, 2026.
    Supporting evidence: On March 3, 2026, Xcel Energy Inc., a Minnesota corporation (“Xcel Energy”), issued $800,000,000 in aggregate principal amount of 5.75% Fixed-to-Fixed Reset Rate Junior Subordinated Notes, Series due 2056 (the “notes”), pursuant to an Underwriting Agreement, dated February 26, 2026, by and among Xcel Energy and Barclays Capital Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and Truist Securities, Inc., as representatives of the underwriters named therein. The notes are being issued pursuant to the registration statement on Form S-3 (File No. 333-278797). A prospectus supplement relating to the offering and sale of the notes was filed with the Securities and Exchange Commission on February 26, 2026. The notes will be governed by Xcel Energy’s Junior Subordinated Indenture, dated as of October 1, 2025, between Xcel Energy and U.S. Bank Trust Company, National Association, as trustee, and Supplemental Indenture No. 2, dated as of March 3, 2026.

Price & Valuation

Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.

Valuation

EV/Revenue
—
Peer median 4.94×
EV/EBIT
29.06×
Peer median 20.98×
P/E (TTM)
19.12×
Peer median 19.42×

Peer medians compare against the 26 similar-size Utilities - Regulated Electric companies (of 33 listed).

Valuation over time computed as of each quarter's filing date

Revenue Breakdown

Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.

Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.

By Segment (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Regulated Electric $12,160,000,000 $11,147,000,000 $11,446,000,000 $12,123,000,000 $11,205,000,000 $9,802,000,000 $9,575,000,000 $9,719,000,000
Regulated Natural Gas $2,452,000,000 $2,230,000,000 $2,645,000,000 $3,080,000,000 $2,132,000,000 $1,636,000,000 $1,868,000,000 $1,739,000,000
All Other Segments $57,000,000 $64,000,000 $115,000,000 $107,000,000 $94,000,000 $88,000,000 $86,000,000 $79,000,000

By Product & Service (USD)

Component FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018
Retail Distribution $12,197,000,000 $11,109,000,000 $11,908,000,000 $12,404,000,000 $10,315,000,000 $9,299,000,000 $9,619,000,000 $9,508,000,000
Wholesale Distribution $715,000,000 $645,000,000 $815,000,000 $1,354,000,000 $1,540,000,000 $759,000,000 $737,000,000 $791,000,000
Transmission Services $705,000,000 $648,000,000 $649,000,000 $675,000,000 $604,000,000 $579,000,000 $507,000,000 $523,000,000
Other Services $243,000,000 $239,000,000 $219,000,000 $275,000,000 $209,000,000 $210,000,000 $169,000,000 $198,000,000
Key facts CIK 72903 CUSIP 98389B100 13F (30d) 35 filings 25 filers Visit website Investor relations