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Xcel Energy XEL Debt-to-equity

Debt-to-equity at other companies

Nextra Energy logo
Nextra EnergyNEE
1.8×0.0×
WEC Energy Group logo
WEC Energy GroupWEC
1.5×+0.2×
Duke Energy logo
Duke EnergyDUK
1.6×0.0×
Exelon logo
ExelonEXC
1.7×0.0×
PG&E logo
PG&EPCG
1.9×+0.1×
CMS
CMS EnergyCMS
0.0×

Other financials

Income statement

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Revenue$3.0B-1.2%
Operating income$754.0M+11.4%
Net income$556.0M+15.1%
EPS (diluted)$0.89+5.9%

Balance sheet

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Cash & equivalents$1.8B+56.7%
Total debt$39.2B+21.2%
Total equity$23.8B+20.2%
Total assets$84.8B+16.6%

Cash flow

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Operating cash flow$1.7B+65.1%
CapEx$3.0B+52.0%
Free cash flow-$1.3B-38.0%

Valuation

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Market cap$48.36B+21.9%
Enterprise value$85.84B+21.0%
P/E23.1×+2.6×
P/S4.2×

Profitability

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Gross margin66.6%
Operating margin17.2%
Net margin11.1%

Returns & leverage

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Return on equity9.6%-0.7pp
Current ratio0.8×0.0×

Where this comes from

Calculated from Xcel Energy’s reported figures.

Based on the most recent quarter.

The official record: Xcel Energy’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Xcel Energy's debt-to-equity?
Xcel Energy (XEL) reported debt-to-equity of 1.6× in Q1 2026.
How has Xcel Energy's debt-to-equity changed year-over-year?
Xcel Energy's debt-to-equity increased by 0.8% year-over-year, from 1.6× to 1.6×.
What is the long-term trend for Xcel Energy's debt-to-equity?
Over 4 years (2021 to 2025), Xcel Energy's debt-to-equity has grown at a -0.5% compound annual growth rate (CAGR), from 6.6× to 6.4×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.