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Xcel Energy XEL Regulatory liabilities

Regulatory liabilities at other companies

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MDU Resources GroupMDU
$148.41M+5.9%
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Nextra EnergyNEE
$294M-7.3%
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WEC Energy GroupWEC
$103.6M+4.1%
BKH
Black HillsBKH
$85.9M-13.2%
MGE Energy logo
MGE EnergyMGEE
$28.18M+50.4%
Duke Energy logo
Duke EnergyDUK
$1.26B+2.4%

Other financials

Income statement

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Operating income$754.0M+11.4%
Net income$556.0M+15.1%
EPS (diluted)$0.89+6.0%

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$50.13B+30.9%
Enterprise value$87.61B+24.8%
P/E24×+5.5×
P/S4.3×

Profitability

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Gross margin66.6%
Operating margin17.2%
Net margin11.1%
FCF margin-9.5%

Returns & leverage

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Return on equity9.6%-0.7pp
Debt / equity1.6×0.0×
Current ratio0.8×0.0×

Where this comes from

Reported directly by Xcel Energy in its filing.

Tagged under the XBRL concept us-gaap:RegulatoryLiabilityCurrent.

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 regulatory liabilities?
Xcel Energy (XEL) reported regulatory liabilities of $701M in Q1 2026.
How has Xcel Energy's regulatory liabilities changed year-over-year?
Xcel Energy's regulatory liabilities decreased by 14.0% year-over-year, from $815M to $701M.
What is the long-term trend for Xcel Energy's regulatory liabilities?
Over 5 years (2020 to 2025), Xcel Energy's regulatory liabilities has grown at a 18.1% compound annual growth rate (CAGR), from $311M to $714M.
What does regulatory liabilities mean?
Obligations recognized by a utility company to refund or credit ratepayers in future periods, as mandated by regulatory commissions. These arise when the utility has collected more revenue than allowed or when specific costs are deferred for future recovery. This reflects the unique regulatory compact where utilities must balance earnings with customer rate protections.