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Xcel Energy (XEL) Operating Expenses (2016 - 2025)

Xcel Energy (XEL) has disclosed Operating Expenses for 17 consecutive years, with $3.0 billion as the latest value for Q4 2025.

  • Quarterly Operating Expenses rose 7.5% to $3.0 billion in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $12.1 billion through Dec 2025, up 9.33% year-over-year, with the annual reading at $12.1 billion for FY2025, 9.33% up from the prior year.
  • Operating Expenses hit $3.0 billion in Q4 2025 for Xcel Energy, down from $3.2 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $3.5 billion in Q4 2022 to a low of $2.6 billion in Q2 2024.
  • Historically, Operating Expenses has averaged $2.9 billion across 5 years, with a median of $2.9 billion in 2021.
  • Biggest five-year swings in Operating Expenses: increased 28.78% in 2021 and later decreased 18.74% in 2023.
  • Year by year, Operating Expenses stood at $2.9 billion in 2021, then increased by 20.74% to $3.5 billion in 2022, then decreased by 18.74% to $2.9 billion in 2023, then fell by 3.28% to $2.8 billion in 2024, then grew by 7.5% to $3.0 billion in 2025.
  • Business Quant data shows Operating Expenses for XEL at $3.0 billion in Q4 2025, $3.2 billion in Q3 2025, and $2.7 billion in Q2 2025.