XCEL ENERGY INC

Listed Company

XELCIK 0000072903NasdaqLarge AcceleratedElectric & Other Services CombinedMinnesotaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$2.02B

Total Assets

$81.37B

Equity

$23.61B

Shares Out

624.27M

Op. Cash Flow

$4.08B

XEL$78.78+13.09% · past yearDBEQ Basic

Daily closing prices

Business

Xcel Energy Inc. is a major U.S. regulated electric and natural gas utility serving approximately 3.9 million electric customers and 2.2 million natural gas customers across eight states through four utility subsidiaries. The company generates, purchases, transmits and distributes electricity and natural gas, operating approximately 20,800 MW of owned electric generation capacity, 115,000 miles of transmission lines and 225,000 miles of distribution lines. Xcel Energy operates through four utility segments (NSP-Minnesota, NSP-Wisconsin, PSCo and SPS) plus regulated transmission-only subsidiaries and nonregulated businesses, focusing on clean energy transition while maintaining customer affordability.

Summary from 10-K filed 2026-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Electric	12,160	11,147	11,446	12,123	11,205
Natural Gas	2,452	2,230	2,645	3,080	2,132
Other	57	64	115	107	94
Total operating revenues	14,669	13,441	14,206	15,310	13,431
Electric fuel and purchased power	3,961	3,788	4,278	5,005	4,733
Cost of natural gas sold and transported	1,041	951	1,456	1,910	1,081
Cost of sales other	11	14	49	44	38
Operating and maintenance expenses	2,732	2,540	2,444	2,491	2,321
Conservation and demand side management expenses	406	394	286	331	304
Depreciation and amortization	2,953	2,744	2,448	2,413	2,121
Taxes (other than income taxes)	686	624	657	688	630
Marshall Wildfire litigation	296	0	0	—	—
Gain (Loss) from Litigation Settlement	0	0	35	0	0
Workforce reduction expenses	0	0	72	0	0
Total operating expenses	12,086	11,055	11,725	12,882	11,228
Operating income	2,583	2,386	2,481	2,428	2,203
Other income, net	235	143	22	−13	5
Earnings from equity method investments	17	19	35	36	62
Allowance for funds used during construction equity	281	168	91	75	73
Interest charges includes other financing costs	1,468	1,255	1,055	953	842
Allowance for funds used during construction debt	−125	−73	−51	−28	−26
Total interest charges and financing costs	1,343	1,182	1,004	925	816
Income before income taxes	1,773	1,534	1,625	1,601	1,527
Income tax benefit	−245	−402	−146	−135	−70
Net income	2,018	1,936	1,771	1,736	1,597
Basic (shares)	587	563	552	547	539
Diluted (shares)	589	563	552	547	540
Basic (per share)	3.44	3.44	3.21	3.18	2.96
Diluted (per share)	3.42	3.44	3.21	3.17	2.96

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Accounts receivable, net	1,330	1,249	1,315	1,373	1,018
Accrued unbilled revenues	880	832	853	1,105	862
Inventories	761	666	711	803	631
Regulatory assets	529	561	611	1,059	1,106
Derivative instruments	165	114	104	279	123
Prepayments and other	1,075	724	294	360	289
Total current assets	5,014	4,325	4,069	5,144	4,239
Property, plant and equipment, net	65,639	57,198	51,642	48,253	45,457
Nuclear decommissioning fund and other investments	4,389	3,896	3,599	3,234	3,628
Regulatory assets	2,998	2,849	2,798	2,871	2,738
Derivative instruments	54	72	76	93	67
Operating lease right-of-use assets	893	1,060	1,217	1,204	1,291
Net finance lease ROU assets	1,348	111	—	—	—
Other	1,036	524	678	389	431
Total other assets	10,718	8,512	8,368	7,791	8,155
Total assets	81,371	70,035	64,079	61,188	57,851
Current portion of long-term debt	501	1,103	552	1,151	601
Short-term debt	1,550	695	785	813	1,005
Accounts payable	2,307	1,781	1,668	1,804	1,409
Regulatory liabilities	714	852	528	418	271
Taxes accrued	579	535	557	569	569
Accrued interest	337	280	251	217	209
Dividends payable	355	314	289	268	249
Derivative instruments	31	37	74	76	69
Operating Lease, Liability, Current	110	227	226	217	205
Other	605	635	722	545	459
Total current liabilities	7,089	6,459	5,652	6,078	5,046
Deferred income taxes	6,004	5,319	4,885	4,756	4,894
Regulatory liabilities	6,277	6,010	5,827	5,569	5,405
Asset retirement obligations	3,888	3,713	3,218	3,380	3,151
Derivative instruments	67	77	86	113	105
Customer advances	129	146	167	181	196
Pension and employee benefit obligations	365	477	469	390	306
Operating lease liabilities	788	867	1,038	1,038	1,146
Finance Lease, Liability, Noncurrent	1,262	60	—	—	—
Other	61	69	148	147	158
Total deferred credits and other liabilities	18,841	16,738	—	—	—
Commitments and contingencies	—	—	—	—	—
Long-term debt	31,832	27,316	—	—	—
Common stock 1,000,000,000 shares authorized of $2.50 par value; 623,600,715 and 574,365,598 shares outstanding at Dec. 31, 2025 and Dec. 31, 2024, respectively	1,559	1,436	1,387	1,374	1,360
Common stock, shares authorized (in shares)	1,000	1,000	1,000	1,000	1,000
Common stock, par value (in dollars per share)	2.5	2.5	2.5	2.5	2.5
Common Stock, Shares, Outstanding	624	574	555	550	544
Additional paid in capital	12,906	9,601	8,465	8,155	7,803
Retained earnings	9,207	8,553	7,858	7,239	6,572
Accumulated other comprehensive loss	−63	−68	−94	−93	−123
Total common stockholders equity	23,609	19,522	17,616	16,675	15,612
Total liabilities and equity	81,371	70,035	64,079	61,188	57,851

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2,968	2,769	2,471	2,436	2,143
Nuclear fuel amortization	114	106	96	118	114
Deferred income taxes	414	225	−59	−140	79
Dividends from equity method investments	32	34	35	37	42
Provision for bad debts	61	47	79	73	60
Share-based compensation expense	46	33	25	20	31
Accounts receivable	−129	19	−27	−429	−164
Accrued unbilled revenues	−48	21	252	−243	−149
Inventories	−300	−140	−98	−203	−126
Other current assets	−122	−139	86	−58	−34
Accounts payable	−50	37	−149	195	138
Net regulatory assets and liabilities	−189	436	911	570	−973
Other current liabilities	−174	−317	200	102	−1
Pension and other employee benefit obligations	−100	−89	17	−49	−135
Other, net	−160	−150	−157	−122	−140
Net Cash Provided by (Used in) Operating Activities, Total	4,083	4,641	5,327	3,932	2,189
Capital/construction expenditures	−10,908	−7,364	−5,854	−4,638	−4,244
Purchase of investment securities	−1,200	−998	−994	−1,332	−757
Proceeds from the sale of investment securities	1,197	961	959	1,297	743
Other, net	−58	−27	−37	20	−29
Net Cash Provided by (Used in) Investing Activities, Total	−10,969	−7,428	−5,926	−4,653	−4,287
Proceeds (repayments) of short-term borrowings, net	855	−90	−28	−192	421
Proceeds from Issuance of Long-term Debt	5,763	3,647	2,630	2,164	2,710
Repayments of long-term debt	−1,713	−656	−1,151	−601	−417
Proceeds from Issuance of Common Stock	3,349	1,117	270	322	366
Payments of Dividends	−1,282	−1,175	−1,092	−1,012	−935
Proceeds from (Payment for) Other Financing Activity	9	−6	−12	−15	−10
Net Cash Provided by (Used in) Financing Activities, Total	6,981	2,837	617	666	2,135
Net change in cash and cash equivalents	95	50	18	−55	37
Interest Paid, Excluding Capitalized Interest, Operating Activity	−1,262	−1,131	−945	−887	−788
Income Taxes Paid, Net	−641	−588	−92	−15	−4
Capital Expenditures Incurred but Not yet Paid	1,170	964	553	626	501
Inventory transfers to plant, property and equipment	348	258	197	78	87
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	1,253	138	238	141	8
Allowance for equity funds used during construction	281	168	91	75	73
Stock Issued	80	68	64	57	60

Filings

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Frequently asked questions

What is XCEL ENERGY INC's CIK number?

XCEL ENERGY INC's SEC CIK number is 0000072903 (72903). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find XCEL ENERGY INC's SEC filings?

All of XCEL ENERGY INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did XCEL ENERGY INC last report earnings?

XCEL ENERGY INC (XEL) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000072903-26-000070). This is XCEL ENERGY INC's most recent earnings filing of record — not a forecast of its next earnings date.

What is XCEL ENERGY INC's most recent earnings 8-K?

XCEL ENERGY INC's latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0000072903-26-000070. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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