Xcel Energy Inc. (XEL) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown (FY 2024)
XEL's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
XEL Revenue Analysis (2013–2024)
As of March 1, 2026, Xcel Energy Inc. (XEL) generated trailing twelve-month (TTM) revenue of $14.23 billion, reflecting solid growth of +7.4% year-over-year. The most recent quarter (Q3 2025) recorded $3.92 billion in revenue, up 19.1% sequentially.
Looking at the longer-term picture, XEL's 5-year compound annual growth rate (CAGR) stands at +3.1%, indicating moderate growth over time. The company achieved its highest annual revenue of $15.31 billion in 2022.
Revenue diversification analysis shows XEL's business is primarily driven by Regulated Electric (83%), and Regulated Natural Gas (17%). With over half of revenue concentrated in Regulated Electric, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including DUK (+5.2% YoY), ETR (+9.0% YoY), and PEG (+18.3% YoY), XEL has underperformed the peer group in terms of revenue growth. Compare XEL vs DUK →
Peer Comparison
Compare XEL's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| XELCurrent | $14.2B | +7.4% | +3.1% | 17.8% | |
| DUK | $32.2B | +5.2% | +6.6% | 26.6% | |
| ETR | $12.9B | +9.0% | +5.1% | 23.6% | |
| PEG | $12.2B | +18.3% | +4.8% | 24.5% | |
| WEC | $9.8B | +14.0% | +6.2% | 24.2% | |
| AEE | $8.8B | +15.4% | +8.7% | 23.0% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $13.44B | -5.4% | $6.15B | 45.7% | $2.39B | 17.8% |
| 2023 | $14.21B | -7.2% | $5.98B | 42.1% | $2.48B | 17.5% |
| 2022 | $15.31B | +14.0% | $5.86B | 38.3% | $2.43B | 15.9% |
| 2021 | $13.43B | +16.5% | $5.26B | 39.1% | $2.20B | 16.4% |
| 2020 | $11.53B | -0.0% | $4.96B | 43.1% | $2.12B | 18.4% |
| 2019 | $11.53B | -0.1% | $4.72B | 41.0% | $2.10B | 18.2% |
| 2018 | $11.54B | +1.2% | $4.45B | 38.6% | $1.97B | 17.0% |
| 2017 | $11.40B | +2.7% | $4.52B | 39.6% | $2.19B | 19.2% |
| 2016 | $11.11B | +0.8% | $4.32B | 38.9% | $2.21B | 19.9% |
| 2015 | $11.02B | -5.7% | $3.99B | 36.2% | $2.00B | 18.1% |
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Start ComparisonFrequently Asked Questions
Is XEL's revenue growth accelerating or slowing?
XEL maintains +7.4% revenue growth, in line with its 5-year CAGR of +3.1%. TTM revenue stands at $14.2B. Growth rate remains consistent with historical average.
What is XEL's long-term revenue growth rate?
Xcel Energy Inc.'s 5-year revenue CAGR of +3.1% reflects the sustained expansion pattern. Current YoY growth of +7.4% is near this long-term average.
How is XEL's revenue distributed by segment?
XEL reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.