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Xcel Energy Income Statement

Revenue, expenses, and profitability over time

Xcel Energy generated $11.6B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $2.1B with a 11.14% net margin. Gross margin stands at 66.59% and operating margin at 17.16%. Diluted EPS is $3.47, which grew 0.0% year-over-year. Based on the Q3 2019 filing.

Operating Income (TTM)$2.7BNet Income (TTM)$2.1BEps Diluted (TTM)$3.47
Latest FilingQ3 2019
Report Date2019-10-25
Market Cap$48.9B
P/E Ratio23.37
ROE9.59%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Compensation and benefits—$9M$12M$17M—$11M
Occupancy and equipment—$70M$64M$56M—$42M
Legal contingency and settlement$0$0$0-$287M$287M$22M
Other Cost Of Operating Revenue$2M$2M$1M$5M$3M$3M
Other taxes and duties$140M$170M$172M$172M$172M$183M
Operating and maintenance$618M$686M$675M$692M$679M$675M
Total operating expenses$2.8B$3.2B$2.7B$3.2B$3B$3.3B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.81$0.84$0.76$0.88$0.96$0.89
Diluted earnings per share$0.81$0.84$0.75$0.88$0.95$0.89
Weighted-average shares, basic563M575M586M592M587M624M
Weighted-average shares, diluted563M577M588M595M589M626M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments$0-$1M-$8M$6M$20M$13M
Interest expense$319M$332M$349M$384M$403M$412M
Other income (expense), net—0.7%0.2%0.9%—-0.5%

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$167M$422M$384M$532M$435M$509M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense-$297M-$61M-$60M$8M-$132M-$47M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$464M$483M$444M$524M$567M$556M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$347M$677M$577M$749M$580M$754M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share-based compensation expense related to employee stock plans—$9M$13M$16M—-$4M
Allowance for equity funds used during construction$49M$48M$69M$79M$85M$92M
ATM Program Total Available Proceeds———$4B—$4B
Debt securities, available-for-sale, unrealized gain—$1.4B$200M$100M$100M$1.7B
Debt securities, available-for-sale, unrealized loss$26M$40M$7M$0$3M$48M
Capital investments accrued but not yet paid$223M$891M$190M$169M$0$1.3B
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—$944M$331M——$1.5B
Dividends declared (in dollars per share)—$0.57$0.57$0.57—$0.59
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$479M$450M$525M—$560M
Conservation and Demand Side Management Program Expenses$99M$110M$88M$101M$107M$121M
Cost of natural gas sold and transported$287M$513M$134M$61M$333M$520M
Deferred taxes—$13M$269M$113M$19M-$5M
Depreciation, Amortization and Accretion, Net$714M$734M$727M$755M$752M$767M
Dividends, Common Stock—$328M$337M$337M—$370M
Effective tax rates—-$0.1-$0.2$0—-$0.1
AFUDC equity—-3.0%———-3.4%
AFUDC equity—-$13M———-$17M
Other—$4M———$4M
Other—0.8%———0.8%
Plant related excess deferred taxes—-$14M———-$15M
Plant related excess deferred taxes—-3.2%———-2.9%
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent—1.0%———0.7%
Effective Income Tax Rate Reconciliation, Tax Credit, Percent—33.1%33.8%17.0%—27.8%
Electric fuel and purchased power$925M$1B$918M$1.1B$925M$1B
Distributions of earnings from equity method investees$8M$8M$8M$0$16M$7M
Finance Lease, Cost—$5M$4M$18M—$32M
Finance Lease Right Of Use Asset Amortization—$1M$1M$4M—$10M
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount—$89M———$107M
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount—$2M———-$4M
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount—$14M———$22M
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount—$4M———$3M
Increase (Decrease) in Accounts and Other Receivables—$58M-$143M$117M$97M$30M
Accounts payable$79M-$105M-$49M——-$191M
Accrued compensation and employee benefits—-$124M———-$77M
Increase (Decrease) in Inventories$69M$4M$93M$105M$98M-$2M
Increase (Decrease) in Other Current Assets$152M$18M-$107M-$53M$264M-$415M
Increase (decrease) in other current liabilities-$79M$29M-$319M$492M-$376M$110M
Increase (Decrease) in Regulatory Assets and Liabilities—-$25M$75M$63M—-$87M
Increase (Decrease) in Accrued Unbilled Revenues—-$63M—-$56M—-$134M
Add - Incremental shares under stock-based compensation plans (in shares)—1.4M2M3.1M—2M
Interest and Debt Expense$297M$309M$322M$348M$364M$372M
Interest Paid, Excluding Capitalized Interest, Operating Activity$338M$252M$331M$249M$430M$283M
Legal Fees—————$40M
Marshall Wildfire litigation$0$74M$74M$74M$74M—
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$201M$1.9B$1.7B$895M$2.5B$2.8B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$2.2B-$2B-$2.4B-$3.1B-$3.5B-$3B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$664M$1B$1.1B$1.8B$209M$1.7B
Nuclear Fuel Amortization$21M$29M$26M$32M$27M$27M
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax—-$1M-$1M-$1M—-$1M
Other comprehensive income/(loss)—-$4M$6M$1M—$4M
Other income, net (Note 6)$68M$7M$68M$46M$114M$22M
All other operating activities-$154M-$28M-$26M-$5M-$101M-$24M
Payment for (Proceeds from) Other Investing Activity$4M$2M$12M$5M$39M-$3M
Payments of Dividends$304M$306M$319M$329M$328M$347M
Payments to Acquire Investments$305M$241M$330M$283M$346M$763M
Payments to Acquire Productive Assets$2.2B$2B$2.4B$3.1B$3.4B$3B
Proceeds from Issuance of Common Stock$8M$122M$1B$8M$2.2B$1M
Debt issued (Note 13)$4M$2.1B$1.8B$990M$880M$3.3B
Financing — other-$1M-$10M——$10M-$35M
Proceeds from (Repayments of) Short-Term Debt—$24M$101M$510M$220M-$70M
Other investments, net of payments  $295M$240M$330M$281M$346M$763M
Provision for bad debts—$19M$12M$16M—$13M
Public Utilities, Allowance For Funds Used During Construction, Capitalized Cost Of Debt$22M$23M$27M$36M$39M$40M
Allowance for Funds Used During Construction, Equity$49M$48M$69M$79M$85M$92M
OPERATING REVENUES$3.1B$3.9B$3.3B$3.9B$3.6B$4B
Electric$2.4B$2.8B$2.9B$3.6B$2.8B$3B
Revenues Including Intersegment Revenues—$3.9B$3.3B$3.9B—$4B
Stock-based compensation$6M$9M$12M$17M$8M$11M
Issuance of common stock in connection with the Spin-Off and reclassification of net parent investment—$122M$1B$16M—$11M
Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss—-$5M$5M$0—$3M
Utilities Operating Expense, Depreciation and Amortization$702M$728M$722M$750M$753M$768M
Workforce reduction expenses$0$0$0$0$0—

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Regulated natural gas$695M$1.1B$396M$264M$737M$1B
Nonregulated electric and other$15M$16M$13M$13M$15M$15M