Xcel Energy (XEL) financials
Xcel Energy revenue and earnings by year
Xcel Energy's revenue was $14.7 billion in the fiscal year to December 31, 2025, up 9.1% from the year before. Net income was $2.02 billion, 13.8% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 3.1% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 14.7 | 13.4 | 14.2 | 15.3 | 13.4 | 11.5 | 11.5 | 11.5 | 11.4 | 11.1 |
| Revenue growth | 9.1% | -5.4% | -7.2% | 14.0% | 16.5% | -0.0% | -0.1% | 1.2% | 2.7% | — |
| Gross profit | 6.9 | 6.1 | 6.0 | 5.9 | 5.3 | 5.0 | 4.7 | 4.5 | 4.5 | 4.3 |
| Gross margin | 47.2% | 45.7% | 42.1% | 38.3% | 39.1% | 43.1% | 41.0% | 38.6% | 39.6% | 38.9% |
| Operating income | 2.6 | 2.4 | 2.5 | 2.4 | 2.2 | 2.1 | 2.1 | 2.0 | 2.2 | 2.2 |
| Operating margin | 17.6% | 17.8% | 17.5% | 15.9% | 16.4% | 18.4% | 18.2% | 17.0% | 19.5% | 20.2% |
| Net income | 2.0 | 1.9 | 1.8 | 1.7 | 1.6 | 1.5 | 1.4 | 1.3 | 1.1 | 1.1 |
| Net margin | 13.8% | 14.4% | 12.5% | 11.3% | 11.9% | 12.8% | 11.9% | 10.9% | 10.1% | 10.1% |
| Diluted EPS | $3.42 | $3.44 | $3.21 | $3.17 | $2.92 | $2.78 | $2.64 | $2.47 | $2.26 | $2.21 |
| Free cash flow | -6.8 | -2.7 | -0.5 | -0.7 | -2.1 | -1.8 | -1.0 | -0.8 | -0.1 | -0.1 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open XEL in Markets.
How Xcel Energy makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Regulated Electric | $3.89B | 93.5% |
| Regulated Natural Gas | $272M | 6.5% |
See also: XEL valuation and P/E history · XEL returns
No forecast, no recommendation. This page describes Xcel Energy from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.