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Operating Margin for Xcel Energy (XEL)

As of · Reported

Metric

TTM

19.8%

YoY change

+1.87pp

Trough year (2002)

-20.5%

Peak year (1985)

100.0%

Operating Margin history chart for Xcel Energy (XEL) from 1985 to 2025

Latest: 19.6%

Operating Margin change chart for Xcel Energy (XEL) from 1985 to 2025

Latest: +1.87pp

Operating Margin history table for Xcel Energy (XEL) from 1985 to 2025

  • 202519.6%+1.87pp
  • 202417.8%+0.29pp
  • 202317.5%+1.61pp
  • 202215.9%-0.54pp
  • 202116.4%-1.96pp
  • 202018.4%+0.11pp
  • 201918.2%+1.22pp
  • 201817.0%-2.17pp
  • 201719.2%-0.73pp
  • 201619.9%+1.79pp
  • 201518.1%+1.48pp
  • 201416.7%-0.26pp
  • 201316.9%-1.07pp
  • 201218.0%+1.27pp
  • 201116.7%+1.01pp
  • 201015.7%+0.48pp
  • 200915.2%+2.81pp
  • 200812.4%-1.05pp
  • 200713.5%+1.50pp
  • 200612.0%+0.61pp
  • 200511.4%-1.71pp
  • 200413.1%-0.97pp
  • 200314.0%+34.57pp
  • 2002-20.5%-40.32pp
  • 200119.8%+7.61pp
  • 200012.2%+6.26pp
  • 19995.9%-1.80pp
  • 19987.7%-9.77pp
  • 199717.5%-2.40pp
  • 199619.9%+0.67pp
  • 199519.2%+1.60pp
  • 199417.6%-82.40pp
  • 1993100.0%0.00pp
  • 1992100.0%0.00pp
  • 1991100.0%0.00pp
  • 1990100.0%0.00pp
  • 1989100.0%0.00pp
  • 1988100.0%0.00pp
  • 1987100.0%0.00pp
  • 1986100.0%0.00pp
  • 1985100.0%—

Operating Margin values are taken from Xcel Energy's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About Operating Margin at Xcel Energy (XEL)

According to Xcel Energy's latest reported financial statements, the company's latest reported operating margin is 19.8%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

2025's annual operating margin for Xcel Energy (XEL) came in at 19.63% – expanded 1.9 percentage points year-over-year.

Across the available history, operating margin reached its high of 100.00% in 1985 and its low of -20.54% in 2002.

Xcel Energy Operating Margin by Year

Xcel Energy Operating Margin 2025: 19.6%

In 2025, Xcel Energy reported operating margin of 19.63%, expanded 1.9 percentage points from 2024.

Xcel Energy Operating Margin 2024: 17.8%

Xcel Energy operating margin in 2024 was 17.75%, expanded 0.3 percentage points from 2023.

Xcel Energy Operating Margin 2023: 17.5%

2023's operating margin for Xcel Energy came in at 17.46%, expanded 1.6 percentage points from 2022.

Xcel Energy Operating Margin 2022: 15.9%

Xcel Energy posted operating margin of 15.86% in 2022, contracted 0.5 percentage points from 2021.

Xcel Energy Operating Margin 2021: 16.4%

Xcel Energy operating margin in 2021 was 16.40%.

See more financial history for Xcel Energy (XEL).

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Utilities peers of Xcel Energy (XEL), ranked by their latest operating margin

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