Xcel Energy Inc (XEL) financial statements: income statement, balance sheet and cash flow

Xcel Energy Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Xcel Energy Inc reported revenue of $14.7B (+9.1% year on year) and net income of $2.0B (+4.2% year on year).

Income statement

Xcel Energy Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Electric	$12.2B	$11.1B	$11.4B	$12.1B
Natural Gas	$2.5B	$2.2B	$2.6B	$3.1B
Other	$57.0M	$64.0M	$115.0M	$107.0M
Total operating revenues	$14.7B	$13.4B	$14.2B	$15.3B
Electric fuel and purchased power	$4.0B	$3.8B	$4.3B	$5.0B
Cost of natural gas sold and transported	$1.0B	$951.0M	$1.5B	$1.9B
Cost of sales — other	$11.0M	$14.0M	$49.0M	$44.0M
Operating and maintenance expenses	$2.7B	$2.5B	$2.4B	$2.5B
Conservation and demand side management expenses	$406.0M	$394.0M	$286.0M	$331.0M
Depreciation and amortization	$3.0B	$2.7B	$2.4B	$2.4B
Taxes (other than income taxes)	$686.0M	$624.0M	$657.0M	$688.0M
Marshall Wildfire litigation	$296.0M	—	—	—
Gain (Loss) from Litigation Settlement	$0	$0	$35.0M	—
Workforce reduction expenses	$0	$0	$72.0M	—
Total operating expenses	$12.1B	$11.1B	$11.7B	$12.9B
Operating income	$2.6B	$2.4B	$2.5B	$2.4B
Other income, net	$235.0M	$143.0M	$22.0M	($13.0M)
Earnings from equity method investments	$17.0M	$19.0M	$35.0M	$36.0M
Allowance for funds used during construction — equity	$281.0M	$168.0M	$91.0M	$75.0M
Interest charges — includes other financing costs	$1.5B	$1.3B	$1.1B	$953.0M
Allowance for funds used during construction — debt	($125.0M)	($73.0M)	($51.0M)	($28.0M)
Total interest charges and financing costs	$1.3B	$1.2B	$1.0B	$925.0M
Income before income taxes	$1.8B	$1.5B	$1.6B	$1.6B
Income tax benefit	($245.0M)	($402.0M)	($146.0M)	($135.0M)
Net income	$2.0B	$1.9B	$1.8B	$1.7B
Basic	587.0M	563.0M	552.0M	547.0M
Diluted	589.0M	563.0M	552.0M	547.0M
Basic	$3.44	$3.44	$3.21	$3.18
Diluted	$3.42	$3.44	$3.21	$3.17

Xcel Energy Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Electric	$2.7B	$3.0B	$3.6B	$2.9B
Natural gas	$365.0M	$1.0B	$264.0M	$396.0M
Other	$14.0M	$15.0M	$13.0M	$13.0M
Total operating revenues	$3.1B	$4.0B	$3.9B	$3.3B
Electric fuel and purchased power	$678.0M	$1.0B	$1.1B	$918.0M
Cost of natural gas sold and transported	$93.0M	$520.0M	$61.0M	$134.0M
Cost of sales — other	$2.0M	$3.0M	$5.0M	$1.0M
Operating and maintenance expenses	$691.0M	$675.0M	$692.0M	$675.0M
Conservation and demand side management expenses	$107.0M	$121.0M	$101.0M	$88.0M
Depreciation and amortization	$662.0M	$768.0M	$750.0M	$722.0M
Taxes, Other	$177.0M	$183.0M	$172.0M	$172.0M
Marshall Wildfire litigation	$3.0M	($22.0M)	$287.0M	—
Total operating expenses	$2.4B	$3.3B	$3.2B	$2.7B
Operating income	$706.0M	$754.0M	$749.0M	$577.0M
Other income, net	$37.0M	$22.0M	$46.0M	$68.0M
Earnings (loss) from equity method investments	$76.0M	$13.0M	$6.0M	($8.0M)
Allowance for funds used during construction — equity	$105.0M	$92.0M	$79.0M	$69.0M
Interest charges — includes other financing costs	$443.0M	$412.0M	$384.0M	$349.0M
Allowance for funds used during construction — debt	($45.0M)	($40.0M)	($36.0M)	($27.0M)
Total interest charges and financing costs	$398.0M	$372.0M	$348.0M	$322.0M
Income before income taxes	$526.0M	$509.0M	$532.0M	$384.0M
Income tax benefit	($60.0M)	($47.0M)	$8.0M	($60.0M)
Net income	$586.0M	$556.0M	$524.0M	$444.0M
Basic (in shares)	625.0M	624.0M	592.0M	586.0M
Diluted (in shares)	627.0M	626.0M	595.0M	588.0M
Basic (in dollars per share)	$0.94	$0.89	$0.88	$0.76
Diluted (in dollars per share)	$0.93	$0.89	$0.88	$0.75

Balance sheet

Xcel Energy Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$274.0M	$179.0M	$129.0M	$111.0M
Accounts receivable, net	$1.3B	$1.2B	$1.3B	$1.4B
Accrued unbilled revenues	$880.0M	$832.0M	$853.0M	$1.1B
Inventories	$761.0M	$666.0M	$711.0M	$803.0M
Regulatory assets	$529.0M	$561.0M	$611.0M	$1.1B
Derivative instruments	$165.0M	$114.0M	$104.0M	$279.0M
Prepayments and other	$1.1B	$652.0M	$294.0M	$360.0M
Total current assets	$5.0B	$4.3B	$4.1B	$5.1B
Property, plant and equipment, net	$65.6B	$57.2B	$51.6B	$48.3B
Nuclear decommissioning fund and other investments	$4.4B	$3.9B	$3.6B	$3.2B
Regulatory assets	$3.0B	$2.8B	$2.8B	$2.9B
Derivative instruments	$54.0M	$72.0M	$76.0M	$93.0M
Operating lease right-of-use assets	$893.0M	$1.1B	$1.2B	$1.2B
Net finance lease ROU assets	$1.3B	—	—	—
Other	$1.0B	$635.0M	$678.0M	$389.0M
Total other assets	$10.7B	$8.5B	$8.4B	$7.8B
Total assets	$81.4B	$70.0B	$64.1B	$61.2B
Current portion of long-term debt	$501.0M	$1.1B	$552.0M	$1.2B
Short-term debt	$1.6B	$695.0M	$785.0M	$813.0M
Accounts payable	$2.3B	$1.8B	$1.7B	$1.8B
Regulatory liabilities	$714.0M	$852.0M	$528.0M	$418.0M
Taxes accrued	$579.0M	$535.0M	$557.0M	$569.0M
Accrued interest	$337.0M	$280.0M	$251.0M	$217.0M
Dividends payable	$355.0M	$314.0M	$289.0M	$268.0M
Derivative instruments	$31.0M	$37.0M	$74.0M	$76.0M
Operating Lease, Liability, Current	$110.0M	$227.0M	$226.0M	$217.0M
Other	$605.0M	$635.0M	$722.0M	$545.0M
Total current liabilities	$7.1B	$6.5B	$5.7B	$6.1B
Deferred income taxes	$6.0B	$5.3B	$4.9B	$4.8B
Regulatory liabilities	$6.3B	$6.0B	$5.8B	$5.6B
Asset retirement obligations	$3.9B	$3.7B	$3.2B	$3.4B
Derivative instruments	$67.0M	$77.0M	$86.0M	$113.0M
Customer advances	$129.0M	$146.0M	$167.0M	$181.0M
Pension and employee benefit obligations	$365.0M	$477.0M	$469.0M	$390.0M
Operating lease liabilities	$788.0M	$867.0M	$1.0B	$1.0B
Finance Lease, Liability, Noncurrent	$1.3B	—	—	—
Other	$61.0M	$89.0M	$148.0M	$147.0M
Total deferred credits and other liabilities	$18.8B	$16.7B	$15.9B	$15.6B
Long-term debt	$31.8B	$27.3B	$24.9B	$22.8B
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	1.6B	1.4B	1.4B	1.4B
Common stock, shares authorized (in shares)	1.0B	1.0B	1.0B	1.0B
Common stock, par value (in dollars per share)	$2.50	$2.50	$2.50	$2.50
Common Stock, Shares, Outstanding	623.6M	574.4M	554.9M	549.6M
Additional paid in capital	$12.9B	$9.6B	$8.5B	$8.2B
Retained earnings	$9.2B	$8.6B	$7.9B	$7.2B

Xcel Energy Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$2.0B	$1.8B	$1.1B	$1.5B
Accounts receivable, net	$1.3B	$1.3B	$1.2B	$1.1B
Accrued unbilled revenues	$786.0M	$746.0M	$766.0M	$822.0M
Inventories	$745.0M	$709.0M	$723.0M	$668.0M
Regulatory assets	$521.0M	$482.0M	$536.0M	$621.0M
Derivative instruments	$178.0M	$138.0M	$216.0M	$255.0M
Prepayments and other	$587.0M	$701.0M	$1.1B	$652.0M
Total current assets	$6.1B	$5.9B	$5.7B	$5.7B
Property, plant and equipment, net	$69.5B	$67.8B	$63.1B	$60.8B
Nuclear decommissioning fund and other investments	$4.7B	$4.3B	$4.3B	$4.1B
Regulatory assets	$3.1B	$3.0B	$2.9B	$2.8B
Derivative instruments	$44.0M	$66.0M	$56.0M	$60.0M
Operating lease right-of-use assets	$865.0M	$868.0M	$877.0M	$1.1B
Finance lease right-of-use assets	$1.4B	$1.4B	$1.4B	—
Other	$1.4B	$1.4B	$871.0M	$801.0M
Total other assets	$11.6B	$11.1B	$10.3B	$8.9B
Total assets	$87.2B	$84.8B	$79.2B	$75.3B
Current portion of long-term debt	$999.0M	$1.0B	$1.0M	$251.0M
Short-term debt	$2.5B	$1.5B	$1.3B	$820.0M
Accounts payable	$2.3B	$2.3B	$2.3B	$2.1B
Regulatory liabilities	$846.0M	$701.0M	$760.0M	$893.0M
Taxes accrued	$416.0M	$697.0M	$531.0M	$360.0M
Accrued interest	$385.0M	$419.0M	$410.0M	$319.0M
Dividends payable	$370.0M	$370.0M	$337.0M	$337.0M
Derivative instruments	$17.0M	$20.0M	$31.0M	$27.0M
Operating lease liabilities	$107.0M	$111.0M	$114.0M	$211.0M
Other	$699.0M	$576.0M	$1.3B	$572.0M
Total current liabilities	$8.7B	$7.6B	$7.1B	$5.9B
Deferred income taxes	$6.0B	$5.9B	$5.9B	$5.7B
Regulatory liabilities	$6.6B	$6.4B	$6.3B	$6.2B
Asset retirement obligations	$3.3B	$3.9B	$3.9B	$3.8B
Derivative instruments	$51.0M	$56.0M	$69.0M	$67.0M
Customer advances	$123.0M	$128.0M	$130.0M	$132.0M
Pension and employee benefit obligations	$307.0M	$289.0M	$372.0M	$360.0M
Operating lease liabilities	$759.0M	$761.0M	$771.0M	$945.0M
Finance Lease, Liability, Noncurrent	$1.3B	$1.3B	$1.3B	—
Other	$61.0M	$60.0M	$65.0M	$128.0M
Deferred Credits and Other Liabilities, Noncurrent	$18.5B	$18.8B	$18.8B	—
Long-term debt	$35.9B	$34.6B	$32.0B	$31.1B
Common stock — 1,000,000,000 shares authorized of $2.50 par value; 624,405,747 and 623,600,715 shares outstanding at June 30, 2026 and December 31, 2025, respectively	1.6B	1.6B	1.5B	1.5B
Common Stock, Shares Authorized	1.0B	1.0B	1.0B	1.0B
Common Stock, Par or Stated Value Per Share	$2.50	$2.50	$2.50	$2.50
Common Stock, Shares, Outstanding	624.4M	624.2M	591.4M	591.2M
Additional paid in capital	$12.9B	$12.9B	$10.8B	$10.7B
Retained earnings	$9.6B	$9.4B	$9.0B	$8.8B

Cash flow statement

Xcel Energy Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$2.0B	$1.9B	$1.8B	$1.7B
Depreciation and amortization	$3.0B	$2.8B	$2.5B	$2.4B
Nuclear fuel amortization	$114.0M	$106.0M	$96.0M	$118.0M
Deferred income taxes	$414.0M	$225.0M	$59.0M	$140.0M
Allowance for equity funds used during construction	($281.0M)	($168.0M)	($91.0M)	($75.0M)
Earnings from equity method investments	($17.0M)	($19.0M)	($35.0M)	($36.0M)
Dividends from equity method investments	$32.0M	$34.0M	$35.0M	$37.0M
Provision for bad debts	$61.0M	$47.0M	$79.0M	$73.0M
Share-based compensation expense	$46.0M	$33.0M	$25.0M	$20.0M
Accounts receivable	($129.0M)	$19.0M	($27.0M)	($429.0M)
Accrued unbilled revenues	($48.0M)	$21.0M	$252.0M	($243.0M)
Inventories	($300.0M)	($140.0M)	($98.0M)	($203.0M)
Other current assets	($122.0M)	($139.0M)	$86.0M	($58.0M)
Accounts payable	($50.0M)	$37.0M	($149.0M)	$195.0M
Net regulatory assets and liabilities	($189.0M)	$436.0M	$911.0M	$570.0M
Other current liabilities	($174.0M)	($317.0M)	$200.0M	$102.0M
Pension and other employee benefit obligations	($100.0M)	($89.0M)	$17.0M	($49.0M)
Other, net	($160.0M)	($150.0M)	($157.0M)	($122.0M)
Net Cash Provided by (Used in) Operating Activities, Total	$4.1B	$4.6B	$5.3B	$3.9B
Capital/construction expenditures	($10.9B)	($7.4B)	($5.9B)	($4.6B)
Purchase of investment securities	($1.2B)	($998.0M)	($994.0M)	($1.3B)
Proceeds from the sale of investment securities	$1.2B	$961.0M	$959.0M	$1.3B
Other, net	($58.0M)	($27.0M)	($37.0M)	$20.0M
Net Cash Provided by (Used in) Investing Activities, Total	($11.0B)	($7.4B)	($5.9B)	($4.7B)
Proceeds (repayments) of short-term borrowings, net	$855.0M	($90.0M)	($28.0M)	($192.0M)
Proceeds from Issuance of Long-term Debt	$5.8B	$3.6B	$2.6B	$2.2B
Repayments of long-term debt	($1.7B)	($656.0M)	($1.2B)	($601.0M)
Proceeds from Issuance of Common Stock	$3.3B	$1.1B	$270.0M	$322.0M
Payments of Dividends	($1.3B)	($1.2B)	($1.1B)	($1.0B)
Proceeds from (Payment for) Other Financing Activity	$9.0M	($6.0M)	($12.0M)	($15.0M)
Net Cash Provided by (Used in) Financing Activities, Total	$7.0B	$2.8B	$617.0M	$666.0M
Net change in cash and cash equivalents	$95.0M	$50.0M	$18.0M	($55.0M)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	$179.0M	$129.0M	$111.0M	$166.0M
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$274.0M	$179.0M	$129.0M	$111.0M
Interest Paid, Excluding Capitalized Interest, Operating Activity	($1.3B)	($1.1B)	($945.0M)	($887.0M)
Income Taxes Paid, Net	($641.0M)	$588.0M	$92.0M	($15.0M)
Capital Expenditures Incurred but Not yet Paid	$1.2B	$964.0M	$553.0M	$626.0M
Inventory transfers to plant, property and equipment	$348.0M	$258.0M	$197.0M	$78.0M
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$1.3B	$138.0M	$238.0M	$141.0M
Allowance for equity funds used during construction	$281.0M	$168.0M	$91.0M	$75.0M
Stock Issued	$80.0M	$68.0M	$64.0M	$57.0M

Xcel Energy Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.1B	$556.0M	$1.5B	$927.0M
Depreciation and amortization	$1.4B	$767.0M	$2.2B	$1.5B
Nuclear fuel amortization	$59.0M	$27.0M	$87.0M	$55.0M
Deferred income taxes	($28.0M)	($5.0M)	$395.0M	$282.0M
Allowance for equity funds used during construction	($197.0M)	($92.0M)	($196.0M)	($117.0M)
(Earnings) loss from equity method investments	($89.0M)	($13.0M)	$3.0M	$9.0M
Dividends from equity method investments	$13.0M	$7.0M	$16.0M	$16.0M
Provision for bad debts	$24.0M	$13.0M	$47.0M	$31.0M
Share-based compensation expense	$23.0M	$11.0M	$38.0M	$21.0M
Accounts receivable	$50.0M	($30.0M)	($32.0M)	$85.0M
Accrued unbilled revenues	$94.0M	$134.0M	$66.0M	$10.0M
Inventories	($56.0M)	$2.0M	($202.0M)	($97.0M)
Other current assets	$571.0M	$415.0M	$142.0M	$89.0M
Accounts payable	($140.0M)	($191.0M)	($85.0M)	($154.0M)
Net regulatory assets and liabilities	$89.0M	$87.0M	($113.0M)	($50.0M)
Other current liabilities	($107.0M)	$110.0M	$202.0M	($290.0M)
Pension and other employee benefit obligations	($61.0M)	($77.0M)	($102.0M)	($115.0M)
Other, net	($14.0M)	($24.0M)	($59.0M)	($54.0M)
Net cash provided by operating activities	$2.8B	$1.7B	$3.9B	$2.1B
Capital/construction expenditures	($6.0B)	($3.0B)	($7.5B)	($4.4B)
Purchase of investment securities	($1.1B)	($763.0M)	($854.0M)	($571.0M)
Proceeds from the sale of investment securities	$1.1B	$763.0M	$851.0M	$570.0M
Other, net	$11.0M	$3.0M	($19.0M)	($14.0M)
Net cash used in investing activities	($6.0B)	($3.0B)	($7.5B)	($4.4B)
Proceeds from short-term borrowings, net	$960.0M	($70.0M)	$635.0M	$125.0M
Proceeds from issuances of long-term debt	$4.7B	$3.3B	$4.9B	$3.9B
Repayments of long-term debt	$66.0M	—	($1.2B)	($932.0M)
Proceeds from issuance of common stock	$11.0M	$1.0M	$1.2B	$1.1B
Dividends paid	($708.0M)	($347.0M)	($954.0M)	($625.0M)
Other, net	$7.0M	($35.0M)	($1.0M)	($8.0M)
Net cash provided by financing activities	$4.9B	$2.8B	$4.5B	$3.6B
Net change in cash, cash equivalents and restricted cash	$1.7B	$1.5B	$873.0M	$1.3B
Cash, cash equivalents and restricted cash at beginning of period	$274.0M	$274.0M	$179.0M	$179.0M
Cash, cash equivalents and restricted cash at end of period	$2.0B	$1.8B	$1.1B	$1.5B
Cash paid for interest (net of amounts capitalized)	($705.0M)	($283.0M)	($832.0M)	($583.0M)
Accrued property, plant and equipment additions	$1.3B	$1.3B	$1.3B	$1.1B
Inventory transfers to property, plant and equipment	$102.0M	$59.0M	$288.0M	$217.0M
Operating lease and finance lease right-of-use assets	$82.0M	$48.0M	$1.2B	$159.0M
Allowance for equity funds used during construction	$197.0M	$92.0M	$196.0M	$117.0M
Issuance of common stock for reinvested dividends and/or equity awards	$40.0M	$18.0M	$63.0M	$39.0M

Xcel Energy Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.