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Companies / Utilities / Xcel Energy
XEL

Xcel Energy

UtilitiesElectric, Gas & WaterS&P 500
Ticker XELMINNEAPOLIS, MNFiscal year ends DecemberBook value per share $38.37Diluted shares 627.0M

Xcel Energy Inc. (Nasdaq: XEL) is a regulated electric and natural gas utility serving customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Through four utility subsidiaries—NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado and Southwestern… From the company’s description.

In fiscal 2025, Xcel Energy reported revenue of $14.67B, up 9.1% from fiscal 2024, and net income of $2.02B. Its operating margin was 17.6%, and operations generated $4.08B in cash. Over the twelve months to Jun 30, 2026, revenue was $14.62B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$14.67BFY2025
+9.1% year over year
Last 12 mo $14.62B
17.61%FY2025
−0.1 percentage points
Last 12 mo 19.08%
$2.02BFY2025
+4.2% year over year
Last 12 mo $2.23B
8.55%FY2025
−1.4 percentage points
Last 12 mo 9.28%
Cash & financing
$4.08BFY2025
−12.0% year over year
Last 12 mo $4.77B
$-6.83BFY2025
−150.6% year over year
Last 12 mo $-7.69B
1.49FY2025
Was 1.49× a year earlier
Last 12 mo 1.64
589.0MFY2025
+4.6% year over year
Last 12 mo 627.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Xcel Energy does

In the company’s own words

Xcel Energy Inc. (Nasdaq: XEL) is a regulated electric and natural gas utility serving customers in portions of Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin. Through four utility subsidiaries—NSP-Minnesota, NSP-Wisconsin, Public Service Company of Colorado and Southwestern Public Service—the company generates, purchases, transmits and distributes electricity, and purchases and delivers natural gas; Southwestern Public Service provides electric service only. Its customers include residential, commercial and industrial users, as well as wholesale and gas transportation customers. Xcel Energy also owns transmission-only and natural gas infrastructure subsidiaries. In 2025, it served approximately 3.9 million electric customers and 2.2 million natural gas customers, and reported total assets of $81.4 billion. Its owned electric generating capacity was 20,800 megawatts, alongside wind, solar, nuclear, hydroelectric and fossil-fuel resources. The company’s principal service areas are supported by about 115,000 conductor miles of electric transmission lines and 225,000 miles of electric distribution lines. Its website is www.xcelenergy.com.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
MINNEAPOLIS, MN
Fiscal year end
December
CIK
72903
SIC
4931

Financial performance, year by year

Fiscal 2013–2025 · USD
$-1.53B$3.06B$7.66B$12.25B$16.84B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Xcel Energy — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

839
funds hold it
0 of 35
superinvestors hold it
$23.22B
held by funds, at market
46.1%
of shares held by funds
73
bond issues held by funds

Largest fund holders · Xcel Energy’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.07%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.08%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.48%of fund net assets
0.22%of fund net assets
3.53%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Xcel Energy’s bonds, as funds hold them

Funds report holding 73 issues of Xcel Energy’s debt, $4.69B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.51%, maturing 2026 to 2056.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Xcel Energy and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Xcel Energy's earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Xcel Energy's last four quarterly filings that the numbers alone won't show?”
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