Xcel Energy XEL Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| All Other | $56M-1.8% | $57M0.0% | $57M+1.8% | $56M-1.8% | $57M-10.9% | |
| Regulated Electric | $12.3B+1.2% | $12.16B+3.4% | $11.76B+2.1% | $11.52B+1.9% | $11.3B+1.3% | |
| Regulated Natural Gas | $2.43B-1.0% | $2.45B+1.7% | $2.41B+1.0% | $2.39B+1.7% | $2.34B+5.1% | |
| Revenues Including Intersegment Revenues by Business | ||||||
| Regulated Electric Segment | $12.3B+1.2% | $12.16B+3.4% | $11.76B+2.1% | $11.52B+1.9% | $11.3B+1.3% | |
| Regulated Natural Gas Segment | $2.45B-1.0% | $2.48B+1.1% | $2.45B+1.4% | $2.42B+2.0% | $2.37B+5.2% | |
| Net Income by Business | ||||||
| All Other | -$102M+9.7% | -$113M+21.5% | -$144M+3.4% | -$149M+13.9% | -$173M-17.7% | |
| Regulated Electric Segment | $1.96B+4.6% | $1.87B+4.8% | $1.79B-8.2% | $1.95B+6.3% | $1.83B-0.9% | |
| Regulated Natural Gas Segment | $230M-9.8% | $255M-6.9% | $274M-1.1% | $277M+1.1% | $274M+15.6% | |
| Other income, net by Business | ||||||
| Regulated Electric Segment | $898M-3.0% | $926M+1.0% | $917M+36.7% | $671M-0.7% | $676M-2.6% | |
| Regulated Natural Gas Segment | $136M-9.3% | $150M-10.2% | $167M+9.2% | $153M+5.5% | $145M+18.9% | |
| Income tax benefit by Business | ||||||
| Regulated Electric Segment | -$247M+6.8% | -$265M+37.4% | -$423M0.0% | -$423M+5.6% | -$448M-6.7% | |
| Regulated Natural Gas Segment | $58M-13.4% | $67M-5.6% | $71M-2.7% | $73M-1.4% | $74M+19.4% | |
| Cost of natural gas sold and transported by Business | ||||||
| Regulated Electric Segment | $0— | $0— | $0— | $0— | $0— | |
| Regulated Natural Gas Segment | $1.05B+0.7% | $1.04B+4.6% | $995M-0.2% | $997M+1.6% | $981M+3.2% | |
| Electric fuel and purchased power by Business | ||||||
| Regulated Electric Segment | $3.96B0.0% | $3.96B0.0% | $3.96B+1.0% | $3.92B+1.6% | $3.86B+1.9% | |
| Regulated Natural Gas Segment | $0— | $0— | $0— | $0— | $0— | |
| Interest and Debt Expense by Business | ||||||
| Regulated Electric Segment | $932M+5.2% | $886M+6.7% | $830M+3.8% | $800M+1.9% | $785M+2.3% | |
| Regulated Natural Gas Segment | $129M+3.2% | $125M+5.0% | $119M+1.7% | $117M+0.9% | $116M+2.7% | |
| Utilities Operating Expense, Depreciation and Amortization by Business | ||||||
| Regulated Electric Segment | $2.55B+1.1% | $2.52B+1.7% | $2.48B+2.0% | $2.43B+0.2% | $2.43B+2.4% | |
| Regulated Natural Gas Segment | $425M+2.7% | $414M+2.5% | $404M+4.9% | $385M+4.1% | $370M+3.4% | |
| Operating and maintenance expenses by Business | ||||||
| Regulated Electric Segment | $2.25B-0.4% | $2.26B+2.2% | $2.21B+1.9% | $2.17B0.0% | $2.17B+3.0% | |
| Regulated Natural Gas Segment | $426M0.0% | $426M+1.4% | $420M+1.2% | $415M+1.2% | $410M+0.2% | |
| Equity Method Investments by Business | ||||||
| All Other | $707M+7.6% | $657M+7.0% | $614M— | —— | —— | |
| Regulated Natural Gas Segment | $321M-5.6% | $340M-1.2% | $344M— | —— | —— | |
| Revenue from contracts with customers by Product | ||||||
| Other | $237M-2.5% | $243M-6.2% | $259M+9.3% | $237M+3.5% | $229M-4.2% | |
| Retail | $12.23B+0.3% | $12.2B+3.0% | $11.85B+2.1% | $11.6B+2.3% | $11.33B+2.0% | |
| Transmission | $719M+2.0% | $705M+1.3% | $696M+1.9% | $683M+3.2% | $662M+2.2% | |
| Wholesale | $726M+1.5% | $715M+2.1% | $700M+2.0% | $686M+1.2% | $678M+5.1% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Xcel Energy break its business down?
- Xcel Energy (XEL) reports revenue by business across 3 parts — All Other, Regulated Electric and Regulated Natural Gas. Each is extracted from the segment footnotes and tracked over time.
- Where does Xcel Energy's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Xcel Energy's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
