XEL
Xcel Energy Inc.Stock · UtilitiesNasdaq-100 0.2% · S&P 500 Equal Weight 0.2% · Nasdaq Composite 0.1% · S&P 500 0.08% · Russell 1000 0.07% · US Stock Market 0.07% · Russell 3000 0.07% · MSCI World 0.05% · MSCI ACWI 0.05%$75.50+0.12%
as of market close, Sep 11, 2026
☾ AH — —
XEL financial statements
The full income statement, balance sheet, and cash-flow statement for Xcel Energy Inc. (XEL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 557.5M2024-09 574.2M2024-12 574.6M2025-03 576.8M2025-06 591.4M2025-09 591.5M2025-12 623.9M2026-03 624.3M2026-06 624.6M+12.0% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 14.7B+9.1% | 13.4B-5.4% | 14.2B-7.2% | 15.3B+14.0% | 13.4B+16.5% | |
| Provision for credit losses | 61.0M+29.8% | 47.0M-40.5% | 79.0M+8.2% | 73.0M+21.7% | 60.0M+0.0% | |
| Operating income | 2.58B+8.3% | 2.39B-3.8% | 2.48B+2.2% | 2.43B+10.2% | 2.20B+4.1% | |
| Interest expense | 1.47B+17.0% | 1.25B+19.0% | 1.05B+10.7% | 953M+13.2% | 842M+0.2% | |
| Other non-operating income | 235M+64.3% | 143M+550.0% | 22.0M+269.2% | -13.0M-360.0% | 5.00M+183.3% | |
| Equity-method income | 17.0M-10.5% | 19.0M-45.7% | 35.0M-2.8% | 36.0M-41.9% | 62.0M+55.0% | |
| Pre-tax income | 1.77B+15.6% | 1.53B-5.6% | 1.63B+1.5% | 1.60B+4.8% | 1.53B+4.1% | |
| Income tax | -245M+39.1% | -402M-175.3% | -146M-8.1% | -135M-92.9% | -70.0M-1066.7% | |
| Net income | 2.02B+4.2% | 1.94B+9.3% | 1.77B+2.0% | 1.74B+8.7% | 1.60B+8.4% | |
| $3.42-0.6% | $3.44+7.2% | $3.21+1.3% | $3.17+7.1% | $2.96+6.1% | ||
| EPS (basic) | $3.44+0.0% | $3.44+7.2% | $3.21+0.9% | $3.18+7.4% | $2.96+6.1% | |
| Weighted-avg shares (basic) | 587M+4.3% | 563M+2.0% | 552M+0.9% | 547M+1.5% | 539M+2.3% | |
| Weighted-avg shares (diluted) | 589M+4.6% | 563M+2.0% | 552M+0.9% | 547M+1.3% | 540M+2.3% | |
| Dividends per share | $2.28+4.1% | $2.19+5.3% | $2.08+6.7% | $1.95+13.5% | $1.72+7.9% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 5.01B+15.9% | 4.33B+6.3% | 4.07B-20.9% | 5.14B+21.3% | 4.24B+29.4% | ||
| Cash & equivalents | 274M+53.1% | 179M+38.8% | 129M+16.2% | 111M-33.1% | 166M+28.7% | |
| Accounts receivable | 1.33B+6.5% | 1.25B-5.0% | 1.31B-4.2% | 1.37B+34.9% | 1.02B+11.1% | |
| Inventory | 761M+14.3% | 666M-6.3% | 711M-11.5% | 803M+27.3% | 631M+17.9% | |
| Prepaid expenses | 1.07B+48.5% | 724M+146.3% | 294M-18.3% | 360M+24.6% | 289M+15.6% | |
| 81.4B+16.2% | 70.0B+9.3% | 64.1B+4.7% | 61.2B+5.8% | 57.9B+7.2% | ||
| Property, plant & equipment | 65.6B+14.8% | 57.2B+10.8% | 51.6B+7.0% | 48.3B+6.2% | 45.5B+5.8% | |
| Operating lease right-of-use | 893M-15.8% | 1.06B-12.9% | 1.22B+1.1% | 1.20B-6.7% | 1.29B-13.4% | |
| Other non-current assets | 1.04B+97.7% | 524M-22.7% | 678M+74.3% | 389M-9.7% | 431M+13.7% | |
| 7.09B+9.8% | 6.46B+14.3% | 5.65B-7.0% | 6.08B+20.5% | 5.05B+19.0% | ||
| Accounts payable | 2.31B+29.5% | 1.78B+6.8% | 1.67B-7.5% | 1.80B+28.0% | 1.41B+13.9% | |
| Short-term & current debt | 1.55B+123.0% | 695M-11.5% | 785M-3.4% | 813M-19.1% | 1.00B+72.1% | |
| Current lease liability | 110M-51.5% | 227M+0.4% | 226M+4.1% | 217M+5.9% | 205M-4.2% | |
| Other current liabilities | 605M-4.7% | 635M-12.0% | 722M+32.5% | 545M+18.7% | 459M+12.8% | |
| Finance lease liability (current) | 39.0M+1850.0% | 2.00M+0.0% | 2.00M+0.0% | 2.00M-33.3% | 3.00M-25.0% | |
| Long-term debt | 32.3B+18.4% | 27.3B+7.3% | 25.5B+6.3% | 24.0B+7.1% | 22.4B+11.5% | |
| Deferred revenue (non-current) | 129M-11.6% | 146M-12.6% | 167M-7.7% | 181M-7.7% | 196M-0.5% | |
| Non-current lease liability | 788M-9.1% | 867M-16.5% | 1.04B+0.0% | 1.04B-9.4% | 1.15B-14.7% | |
| Operating lease liability (total) | 898M-17.9% | 1.09B-13.4% | 1.26B+0.7% | 1.25B-7.1% | 1.35B-13.3% | |
| Finance lease liability (total) | 1.30B+1998.4% | 62.0M-3.1% | 64.0M-3.0% | 66.0M-8.3% | 72.0M-6.5% | |
| Finance lease liability | 1.26B+2003.3% | 60.0M-3.2% | 62.0M-3.1% | 64.0M-7.2% | 69.0M-5.5% | |
| Deferred tax liabilities | 6.00B+12.9% | 5.32B+8.9% | 4.88B+2.7% | 4.76B-2.8% | 4.89B+3.1% | |
| Other non-current liabilities | 61.0M-11.6% | 69.0M-53.4% | 148M+0.7% | 147M-7.0% | 158M-13.7% | |
| 23.6B+20.9% | 19.5B+10.8% | 17.6B+5.6% | 16.7B+6.8% | 15.6B+7.1% | ||
| Common stock | 1.56B+8.6% | 1.44B+3.5% | 1.39B+0.9% | 1.37B+1.0% | 1.36B+1.2% | |
| Additional paid-in capital | 12.9B+34.4% | 9.60B+13.4% | 8.46B+3.8% | 8.15B+4.5% | 7.80B+5.4% | |
| Retained earnings | 9.21B+7.6% | 8.55B+8.8% | 7.86B+8.6% | 7.24B+10.1% | 6.57B+10.1% | |
| Accumulated other comprehensive income | -63.0M+7.4% | -68.0M+27.7% | -94.0M-1.1% | -93.0M+24.4% | -123M+12.8% | |
| Total equity incl. non-controlling | 23.6B+20.9% | 19.5B+10.8% | 17.6B+5.6% | 16.7B+6.8% | 15.6B+7.1% | |
| Total liabilities & equity | 81.4B+16.2% | 70.0B+9.3% | 64.1B+4.7% | 61.2B+5.8% | 57.9B+7.2% | |
| Common shares outstanding | 624M+8.6% | 574M+3.5% | 555M+1.0% | 550M+1.0% | 544M+1.2% | |
| Shares outstanding (cover) | 624M+8.6% | 575M+3.5% | 555M+1.0% | 550M+1.0% | 544M+1.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 4.08B-12.0% | 4.64B-12.9% | 5.33B+35.5% | 3.93B+79.6% | 2.19B-23.1% | ||
| Depreciation & amortization | 2.97B+7.2% | 2.77B+12.1% | 2.47B+1.4% | 2.44B+13.7% | 2.14B+9.4% | |
| Share-based compensation | 46.0M+39.4% | 33.0M+32.0% | 25.0M+25.0% | 20.0M-35.5% | 31.0M-57.5% | |
| Deferred income taxes | 414M+84.0% | 225M+481.4% | -59.0M+57.9% | -140M-77.2% | -79.0M-887.5% | |
| Change in inventory | 300M+114.3% | 140M+42.9% | 98.0M-51.7% | 203M+61.1% | 126M+57.5% | |
| Change in payables | -50.0M-235.1% | 37.0M+124.8% | -149M-176.4% | 195M+41.3% | 138M+518.2% | |
| Other operating activities | -160M-6.7% | -150M+4.5% | -157M-28.7% | -122M+12.9% | -140M+14.6% | |
| -11.0B-47.7% | -7.43B-25.3% | -5.93B-27.4% | -4.65B-8.5% | -4.29B+9.6% | ||
| Capital expenditure | 10.9B+48.1% | 7.36B+25.8% | 5.85B+26.2% | 4.64B+9.3% | 4.24B-21.0% | |
| Free cash flow | -6.83B-150.6% | -2.72B-416.7% | -527M+25.4% | -706M+65.6% | -2.06B+18.5% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Purchases of investments | 1.20B+20.2% | 998M+0.4% | 994M-25.4% | 1.33B+76.0% | 757M-45.9% | |
| Other investing activities | 58.0M+114.8% | 27.0M-27.0% | 37.0M+285.0% | -20.0M-169.0% | 29.0M-17.1% | |
| 6.98B+146.1% | 2.84B+359.8% | 617M-7.4% | 666M-68.8% | 2.13B+20.4% | ||
| Long-term debt issued | 5.76B+58.0% | 3.65B+38.7% | 2.63B+21.5% | 2.16B-20.1% | 2.71B-7.8% | |
| Long-term debt repaid | 1.71B+161.1% | 656M-43.0% | 1.15B+91.5% | 601M+44.1% | 417M-58.3% | |
| Net short-term debt | 855M+1050.0% | -90.0M-221.4% | -28.0M+85.4% | -192M-145.6% | 421M+3927.3% | |
| Common stock issued | 3.35B+199.8% | 1.12B+313.7% | 270M-16.1% | 322M-12.0% | 366M-49.7% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 1.28B+9.1% | 1.18B+7.6% | 1.09B+7.9% | 1.01B+8.2% | 935M+9.2% | |
| Other financing activities | 9.00M+250.0% | -6.00M+50.0% | -12.0M+20.0% | -15.0M-50.0% | -10.0M+61.5% | |
| Net change in cash | 95.0M+90.0% | 50.0M+177.8% | 18.0M+132.7% | -55.0M-248.6% | 37.0M+131.1% | |
| Interest paid | 1.26B+11.6% | 1.13B+19.7% | 945M+6.5% | 887M+12.6% | 788M+4.0% | |
| Income taxes paid | 641M+9.0% | 588M+539.1% | 92.0M+513.3% | 15.0M+275.0% | 4.00M+133.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 46.1B+18.8% | 38.8B+13.6% | 34.2B-11.0% | 38.4B+4.1% | 36.8B+2.8% | |
| P/E | 22.8×+14.0% | 20.0×+2.1% | 19.6×-15.9% | 23.3×+1.1% | 23.1×-5.2% | |
| P/S | 3.1×+8.8% | 2.9×+25.2% | 2.3×-14.6% | 2.7×-1.5% | 2.7×-11.8% | |
| P/B | 2.0×-1.8% | 2.0×+0.7% | 2.0×-15.7% | 2.3×-0.8% | 2.4×-4.0% | |
| Earnings yield | 4.4%-12.2% | 5.0%-2.1% | 5.1%+18.9% | 4.3%-1.1% | 4.3%+5.5% | |
| Dividend yield | 3.1%-4.8% | 3.2%-3.5% | 3.4%+20.8% | 2.8%+9.6% | 2.5%+6.3% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: XEL’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all XEL filings on SEC EDGAR → Not investment advice.