Direct Answer
Xcel Energy reported revenue of $14.7 billion for the fiscal year ended December 31, 2025, with an operating margin of 17.6% and net income of $2.0 billion, according to its SEC filings. Revenue grew 9.1% from the prior year.
What Are Xcel Energy's Key Financial Figures?
| Fiscal year | FY2025 ended December 31, 2025 | FY2024 ended December 31, 2024 | FY2023 ended December 31, 2023 | FY2022 ended December 31, 2022 |
|---|---|---|---|---|
| Revenue | $14.7 billion | $13.4 billion | $14.2 billion | $15.3 billion |
| Operating income | $2.6 billion | $2.4 billion | $2.5 billion | $2.4 billion |
| Operating margin | 17.6% | 17.8% | 17.5% | 15.9% |
| Net income | $2.0 billion | $1.9 billion | $1.8 billion | $1.7 billion |
| Net margin | 13.8% | 14.4% | 12.5% | 11.3% |
| Operating cash flow | $4.1 billion | $4.6 billion | $5.3 billion | $3.9 billion |
| Capital expenditures | $10.9 billion | $7.4 billion | $5.9 billion | $4.6 billion |
| Free cash flow | -$6.8 billion | -$2.7 billion | -$527 million | -$706 million |
Operating margin held roughly steady between fiscal 2024 and 2025, which separates pricing and cost discipline from revenue growth alone. Free cash flow (operating cash flow minus capital expenditures) was -$6.8 billion against net income of $2.0 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement.
What Does Xcel Energy's Balance Sheet Show?
| Cash and cash equivalents | $274 million |
|---|---|
| Long-term debt | $32.3 billion |
| Total assets | $81.4 billion |
| Total liabilities | Not reported |
| Shareholders' equity | $23.6 billion |
| Current ratio | 0.7x |
Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions.
Where These Numbers Come From
Every figure on this page is a value Xcel Energy reported in its own SEC filings, read from the SEC's XBRL data (accession 0000072903-26-000009 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.
Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.
Frequently Asked Questions
What was Xcel Energy's revenue in fiscal 2025?
Xcel Energy reported revenue of $14.7 billion for the fiscal year ended December 31, 2025, according to its SEC filings.
What is Xcel Energy's operating margin?
Xcel Energy's operating margin was 17.6% in fiscal 2025: operating income of $2.6 billion on revenue of $14.7 billion.
How much free cash flow did Xcel Energy generate?
Operating cash flow of $4.1 billion less capital expenditures of $10.9 billion gives free cash flow of -$6.8 billion for fiscal 2025.