Xcel Energy (XEL) Operating Margin (2009 - 2026)

Xcel Energy has disclosed Operating Margin across 18 years of filings, most recently posting 18.75% for Q1 2026.

• Operating Margin for Q1 2026 came in at 18.75%, up 142.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 17.99% (up 59.0% YoY), and the FY2025 annual result was 17.61%, down 14.0% from the prior year.
• Operating Margin came in at 18.75% for Q1 2026 at Xcel Energy, up from 16.29% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 25.0% in Q3 2024 to a low of 11.12% in Q4 2024.
• The 5-year median for Operating Margin is 16.71% (2023), against an average of 17.12%.
• Peak annual rise in Operating Margin reached 517 bps in 2025, while the deepest fall reached 587 bps in 2025.
• Xcel Energy's Operating Margin stood at 12.95% in 2022, then grew by 29 bps to 16.71% in 2023, then slumped by 33 bps to 11.12% in 2024, then surged by 46 bps to 16.29% in 2025, then gained by 15 bps to 18.75% in 2026.
• The last three Operating Margin figures came in at 18.75% (Q1 2026), 16.29% (Q4 2025), and 19.13% (Q3 2025), per Business Quant data.