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Xcel Energy XEL Wholesale — Revenue from contracts with customers

Other product segments

Retail
$3.29B+1.0%
Transmission
$186M+8.1%
Other
$62M-8.8%

Similar metrics at other companies

Southern Company logo
SOWholesale Electric Revenues — Total revenue from contracts with customers
$734M+15.6%
UGI logo
UGIWholesale — Total revenues from contracts with customers
$62M-20.5%
Suburban Propane Partners logo
SPHWholesale — Revenue
$4.72M-71.1%
FirstEnergy logo
FEWholesale — Revenue from Contract with Customer, Including Assessed Tax
$10M+150%
OTT
OTTRWholesale — Total Operating Revenues
$1.5M-45.9%
Vistra logo
VSTRevenue from other wholesale contracts — Total revenue from contracts with customers
$350M+5.7%

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$51.03B+32.8%
Enterprise value$88.52B+27.0%
P/E24.4×+4.5×
P/S4.4×—

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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 wholesale — revenue from contracts with customers?
Xcel Energy (XEL) reported wholesale — revenue from contracts with customers of $217M in Q1 2026.
How has Xcel Energy's wholesale — revenue from contracts with customers changed year-over-year?
Xcel Energy's wholesale — revenue from contracts with customers increased by 5.3% year-over-year, from $206M to $217M.
What is the long-term trend for Xcel Energy's wholesale — revenue from contracts with customers?
Over 4 years (2021 to 2025), Xcel Energy's wholesale — revenue from contracts with customers has grown at a -17.5% compound annual growth rate (CAGR), from $1.54B to $715M.
What does wholesale — revenue from contracts with customers mean?
This metric represents the total revenue generated from the sale of electricity to other utilities, municipalities, or cooperatives rather than directly to end-use retail customers. It reflects the company's role as a bulk power supplier within the regional energy market and is influenced by wholesale market prices, transmission capacity, and long-term power purchase agreements. This revenue stream is a key indicator of the company's ability to monetize excess generation capacity and participate in broader energy trading markets.