Xcel Energy 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Oct 29, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the XELLL SEC filings page.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) reported $14.9B in revenue over the twelve months to Sep 30, 2026, up 4.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings.
Capital intensity defines the business: it produces accounting profit, but expanding assets require investment beyond internally generated cash.
Cash conversion weakened materially in FY2025: capital expenditures reached$10.9B , far above operating cash flow of$4.1B . That investment intensity pushed free cash flow to-$6.8B even as net income was$2.0B , so accounting earnings did not fund the asset build.
Balance-sheet expansion is being financed with substantial creditor capital: total assets grew
Earnings conversion also softened at the margin. Revenue grew
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 has an operating margin of 17.6%, meaning the company retains $18 of operating profit per $100 of revenue. This strong profitability earns a score of 85/100, reflecting efficient cost management and pricing power. This is down from 17.8% the prior year.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's revenue grew 9.1% year-over-year to $14.7B, a solid pace of expansion. This earns a growth score of 36/100.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 has elevated debt relative to equity (D/E of 1.35), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 9/100, reflecting increased financial risk.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's current ratio of 0.71 is below the typical benchmark, resulting in a score of 8/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 generated $4.1B in operating cash flow, capex of $10.9B consumed most of it, leaving -$6.8B in free cash flow. This results in a low score of 8/100, reflecting heavy capital investment rather than weak cash generation.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's ROE of 8.6% shows moderate profitability relative to equity, earning a score of 58/100. This is down from 9.9% the prior year.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.
For every $1 of reported earnings, Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 generates $2.02 in operating cash flow ($4.1B OCF vs $2.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 earns $1.76 in operating income for every $1 of interest expense ($2.6B vs $1.5B). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 generated $4.2B in revenue in Q3 2026. This represents an increase of 6.6% from the same quarter a year earlier. Against the prior quarter it is up 33.8%.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's EBITDA was $2.0B in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 33.8% from the same quarter a year earlier. Against the prior quarter it is up 47.7%.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 reported $960.0M in net income in Q3 2026. This represents an increase of 83.2% from the same quarter a year earlier. Against the prior quarter it is up 63.8%.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 earned $1.52 per diluted share (EPS) in Q3 2026. This represents an increase of 72.7% from the same quarter a year earlier. Against the prior quarter it is up 63.4%.
Cash & Balance Sheet
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 recorded an outflow of $1.2B in free cash flow in Q3 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 held $2.5B in cash against $36.5B in long-term debt as of Q3 2026.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 paid $0.59 per share in dividends in Q3 2026. This represents an increase of 3.5% from the same quarter a year earlier. It is unchanged from the prior quarter.
Margins & Returns
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's operating margin was 28.5% in Q3 2026, reflecting core business profitability. This is up 9.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.9 percentage points.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's net profit margin was 23.0% in Q3 2026, showing the share of revenue converted to profit. This is up 9.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.2 percentage points.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085's quarterly ROE was 3.8% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.3 percentage points.
Not reported for Q3 2026.
Capital Allocation
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 invested $3.3B in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 7.5% from the same quarter a year earlier. Against the prior quarter it is up 11.4%.
Not reported for Q3 2026.
Not reported for Q3 2026.
XELLL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'25Filing | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.2B+6.6% | $3.1B-5.1% | $4.0B+2.9% | $3.6B+14.1% | $3.9B+7.4% | $3.3B+8.6% | $3.9B+7.0% | $3.1B-9.4% |
| Operating Income | $1.2B+59.0% | $706.0M+22.4% | $754.0M+11.4% | $580.0M+67.1% | $749.0M-17.8% | $577.0M+28.5% | $677.0M-0.3% | $347.0M-39.7% |
| EBITDA | $2.0B+33.8% | $1.4B+4.5% | $1.5B+7.8% | $1.3B+25.5% | $1.5B-5.8% | $1.3B+12.9% | $1.4B+5.1% | $1.1B-13.2% |
| Interest Expense | $484.0M+26.0% | $443.0M+26.9% | $412.0M+24.1% | $403.0M+26.3% | $384.0M+17.8% | $349.0M+9.4% | $332.0M+14.1% | $319.0M+20.4% |
| Income Tax | $69.0M+762.5% | -$60.0Mn/m | -$47.0Mn/m | -$132.0Mn/m | $8.0M-20.0% | -$60.0Mn/m | -$61.0Mn/m | -$297.0Mn/m |
| Net Income | $960.0M+83.2% | $586.0M+32.0% | $556.0M+15.1% | $567.0M+22.2% | $524.0M-23.2% | $444.0M+47.0% | $483.0M-1.0% | $464.0M+13.4% |
| EPS (Basic) | $1.53+73.9% | $0.94+23.7% | $0.89+6.0% | $0.96+18.5% | $0.88-27.3% | $0.76+40.7% | $0.84-4.5% | $0.81+9.5% |
| EPS (Diluted) | $1.52+72.7% | $0.93+24.0% | $0.89+6.0% | $0.95+17.3% | $0.88-27.3% | $0.75+38.9% | $0.84-4.5% | $0.81+9.5% |
| Diluted Shares (Avg) | 632M+6.2% | 627M+6.6% | 626M+8.5% | N/A | 595M+5.3% | 588M+5.6% | 577M+3.8% | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses.
XELLL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'25Filing | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $90.7B+14.6% | $87.2B+15.7% | $84.8B+16.6% | $81.4B+16.2% | $79.2B+14.2% | $75.3B+10.9% | $72.7B+10.9% | $70.0B+9.3% |
| Current Assets | $6.7B+18.7% | $6.1B+7.3% | $5.9B+9.6% | $5.0B+15.9% | $5.7B+3.9% | $5.7B-0.6% | $5.4B+19.6% | $4.3B+6.3% |
| Cash & Equivalents | $2.5B+136.0% | $2.0B+38.2% | $1.8B+56.7% | $274.0M+53.1% | $1.1B-31.9% | $1.5B-9.0% | $1.1B+124.2% | $179.0M+38.8% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $827.0M+14.4% | $745.0M+11.5% | $709.0M+13.4% | $761.0M+14.3% | $723.0M+13.3% | $668.0M+7.4% | $625.0M+0.3% | $666.0M-6.3% |
| Accounts Receivable | $1.4B+11.6% | $1.3B+10.8% | $1.3B+4.6% | $1.3B+6.5% | $1.2B+5.0% | $1.1B-0.4% | $1.3B+5.5% | $1.2B-5.0% |
| Long-Term Investments | $152.0M-7.9% | $178.0M+10.6% | $165.0M+5.8% | $164.0M+5.1% | $165.0M+3.8% | $161.0M+5.9% | $156.0M+3.3% | $156.0M+8.3% |
| Total Liabilities | $65.2B+12.5% | $63.1B+16.1% | $61.0B+15.3% | $57.8B+14.4% | $58.0B+16.1% | $54.4B+8.8% | $52.9B+10.9% | $50.5B+8.7% |
| Current Liabilities | $9.7B+36.2% | $8.7B+47.3% | $7.6B+13.3% | $7.1B+9.8% | $7.1B+22.0% | $5.9B-0.2% | $6.7B+29.4% | $6.5B+14.3% |
| Non-Current Liabilities | $55.5B+9.2% | $54.4B+12.3% | $53.4B+15.5% | $50.7B+15.0% | $50.8B+15.3% | $48.5B+10.0% | $46.2B+8.6% | $44.1B+7.9% |
| Long-Term Debt | $36.5B+14.1% | $35.9B+15.6% | $34.6B+17.5% | $31.8B+16.5% | $32.0B+16.6% | $31.1B+12.2% | $29.4B+11.4% | $27.3B+9.6% |
| Total Equity | $25.5B+20.4% | $24.1B+14.8% | $23.8B+20.2% | $23.6B+20.9% | $21.2B+9.5% | $21.0B+16.7% | $19.8B+11.0% | $19.5B+10.8% |
| Retained Earnings | $10.2B+13.3% | $9.6B+9.0% | $9.4B+7.9% | $9.2B+7.6% | $9.0B+7.0% | $8.8B+9.6% | $8.7B+8.3% | $8.6B+8.8% |
Not reported in any period shown, so not listed: Goodwill.
XELLL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'25Filing | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.1B+17.3% | $1.1B+1.8% | $1.7B+65.1% | $209.0M-68.5% | $1.8B+1.6% | $1.1B-9.2% | $1.0B-2.1% | $664.0M-31.8% |
| Depreciation & Amortization | $822.0M+8.9% | $657.0M-9.6% | $767.0M+4.5% | $752.0M+5.3% | $755.0M+10.2% | $727.0M+3.0% | $734.0M+10.5% | $714.0M+10.4% |
| Stock-Based Compensation | N/A | N/A | $11.0M+22.2% | N/A | N/A | N/A | $9.0M+50.0% | N/A |
| Capital Expenditures | $3.3B+7.5% | $2.9B+21.5% | $3.0B+52.0% | $3.4B+55.1% | $3.1B+71.7% | $2.4B+32.6% | $2.0B+29.3% | $2.2B+37.4% |
| Free Cash Flow | -$1.2Bn/m | -$1.8Bn/m | -$1.3Bn/m | -$3.2Bn/m | -$1.3Bn/m | -$1.3Bn/m | -$960.0Mn/m | -$1.6Bn/m |
| Investing Cash Flow | -$3.3Bn/m | -$2.9Bn/m | -$3.0Bn/m | -$3.5Bn/m | -$3.1Bn/m | -$2.4Bn/m | -$2.0Bn/m | -$2.2Bn/m |
| Financing Cash Flow | $1.7B+86.6% | $2.1B+23.7% | $2.8B+47.2% | $2.5B+1138.8% | $895.0M+22275.0% | $1.7B-3.7% | $1.9B+117.2% | $201.0M+3.1% |
| Dividends Paid | $362.0M+10.0% | $361.0M+13.2% | $347.0M+13.4% | $328.0M+7.9% | $329.0M+11.1% | $319.0M+8.1% | $306.0M+9.3% | $304.0M+9.4% |
Not reported in any period shown, so not listed: Share Buybacks.
XELLL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'25Filing | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 28.5%+9.4pp | 22.6%+5.1pp | 18.8%+1.4pp | 16.3%+5.2pp | 19.1%-5.9pp | 17.5%+2.7pp | 17.3%-1.3pp | 11.1%-5.6pp |
| Net Margin | 23.0%+9.6pp | 18.8%+5.3pp | 13.8%+1.5pp | 15.9%+1.1pp | 13.4%-5.3pp | 13.5%+3.5pp | 12.4%-1.0pp | 14.9%+3.0pp |
| Return on Equity | 3.8%+1.3pp | 2.4%+0.3pp | 2.3%-0.1pp | 2.4%0.0pp | 2.5%-1.1pp | 2.1%+0.4pp | 2.4%-0.3pp | 2.4%+0.1pp |
| Return on Assets | 1.1%+0.4pp | 0.7%+0.1pp | 0.7%0.0pp | 0.7%0.0pp | 0.7%-0.3pp | 0.6%+0.1pp | 0.7%-0.1pp | 0.7%0.0pp |
| Current Ratio | 0.69-0.1x | 0.70-0.3x | 0.770.0x | 0.710.0x | 0.79-0.1x | 0.960.0x | 0.80-0.1x | 0.67-0.1x |
| Debt-to-Equity | 1.43-0.1x | 1.490.0x | 1.450.0x | 1.35-0.1x | 1.51+0.1x | 1.48-0.1x | 1.480.0x | 1.400.0x |
| Liabilities-to-Equity | 2.56-0.2x | 2.620.0x | 2.56-0.1x | 2.45-0.1x | 2.74+0.2x | 2.59-0.2x | 2.670.0x | 2.59-0.1x |
| Asset Turnover | 0.050.0x | 0.040.0x | 0.050.0x | 0.040.0x | 0.050.0x | 0.040.0x | 0.050.0x | 0.040.0x |
| FCF Margin | -29.1%+3.9pp | -59.3%-18.3pp | -33.0%-8.4pp | -90.7%-40.9pp | -33.0%-31.8pp | -40.9%-19.8pp | -24.6%-11.2pp | -49.8%-31.2pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 Ranks
Frequently Asked Questions
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) reported $14.7B in total revenue for fiscal year 2025. This represents a 9.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) revenue grew by 9.1% year-over-year, from $13.4B to $14.7B in fiscal year 2025.
Yes, Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) reported a net income of $2.7B over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $2.0B, with a net profit margin of 13.8%.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) reported diluted earnings per share of $3.42 for fiscal year 2025. This represents a -0.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had EBITDA of $5.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had $274.0M in cash and equivalents against $31.8B in long-term debt.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had an operating margin of 17.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had a net profit margin of 13.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) paid $2.28 per share in dividends during fiscal year 2025.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) has a return on equity of 8.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) recorded an outflow of $6.8B in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) generated $4.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had $81.4B in total assets as of fiscal year 2025, including both current and long-term assets.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) invested $10.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had a debt-to-equity ratio of 1.35 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had a liabilities-to-equity ratio of 2.45 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) had a return on assets of 2.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) has an earnings quality ratio of 2.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) has an interest coverage ratio of 1.76x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 (XELLL) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.