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XEL Financials Xcel Energy

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 1.9% per year over the past 5 years.
  • Net income has grown faster than revenue (6.5% vs 1.9% per year).

Financial health

  • Total debt ($33.9B) exceeds cash ($274M); net debt is $33.6B.
  • Total debt has grown faster than revenue (10.4% vs 1.9% per year).
  • Operating income covered interest expense 1.8× in the latest year, down from 2.5× 5 years ago.
  • Total debt is 6.1× EBITDA.

Shareholder returns

  • Dividends have been paid for 15 consecutive years, consuming 63.5% of earnings.
  • The dividend has grown 8.4% per year over the past 5 years.
Revenue & net income
$0 $6B $12B 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
0% 34% 67% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
-$7B -$3B $200M $0 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $17B $34B 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$11B -$2B $7B $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 — $2.0B — — -$6.8B $33.9B $274M
2024 — $1.9B — — -$2.7B $28.0B $179M
2023 — $1.8B — — -$527M $26.3B $129M
2022 — $1.7B — — -$706M $24.8B $111M
2021 — $1.6B — — -$2.1B $23.4B $166M
2020 — $1.5B — — -$2.5B $20.6B $129M
2019 — $1.4B — — -$962M $18.7B $248M
2018 $11.5B $1.3B 66.6% 17.0% -$835M $17.2B $147M
2017 $11.4B $1.1B 67.1% 19.5% -$118M — $83M
2016 $11.1B $1.1B 66.5% 20.2% -$143M — $85M
2015 — $984M — — -$645M — $85M
2014 — $1.0B — — -$540M — $80M
2013 — $948M — — -$811M — $107M
2012 — $905M — — -$565M — $82M
2011 — $841M — — $200M — $61M

Valuation over time

How the market has priced XEL against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 13.2 26.5 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Dividend yield (%)
0.0 1.7 3.3 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is XEL growing its revenue and profit?

Over the past 5 years, Xcel Energy's revenue has grown 1.9% per year, and net income grown 6.5% per year. These are computed facts, not advice.

How much debt does XEL have?

As of FY2025, Xcel Energy reported $33.9B of total debt against $274M of cash; operating income covered interest expense 1.8×.

What is XEL's profit margin?

In FY2025, gross margin was —, operating margin —, and net margin —.

What is XEL's P/E ratio?

As of Jun '26, Xcel Energy traded at a price-to-earnings ratio of about 25.3× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.