Xcel Energy Inc (XEL) Operating Margin (2009 - 2026)
Xcel Energy (XEL) recorded Operating Margin of 22.64% in Q2 2026, up 5.08 percentage points from 17.55% a year earlier and up 3.88 percentage points from the prior quarter.
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Analysis
Xcel Energy Inc (XEL) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Xcel Energy's Operating Margin came in at 19.08% as of Jun 30, 2026, up 1.08 percentage points year-over-year; for FY2025, it came in at 17.61%, down 0.14 percentage points from FY2024.
- Annual Operating Margin has a five-year change of -0.75 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 17.75% in FY2024 (+0.29 pp), 17.46% in FY2023 (+1.61 pp), 15.86% in FY2022 (-0.54 pp) and 16.40% in FY2021 (-1.96 pp).
- The Q2 2026 figure is the highest quarterly Operating Margin since Q3 2024.
- On a year-over-year basis, Operating Margin has increased for three consecutive quarters, with an average year-over-year change of +0.21 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 5.17 percentage points in Q4 2025, against a drop of 5.87 percentage points in Q3 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 18.75% (Q1 2026), 16.29% (Q4 2025) and 19.13% (Q3 2025).
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Historic Data
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Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 22.64% |
| Mar 31, 2026 | 18.75% |
| Dec 31, 2025 | 16.29% |
| Sep 30, 2025 | 19.13% |
| Jun 30, 2025 | 17.55% |
| Mar 31, 2025 | 17.33% |
| Dec 31, 2024 | 11.12% |
| Sep 30, 2024 | 25.00% |
| Jun 30, 2024 | 14.83% |
| Mar 31, 2024 | 18.61% |
| Dec 31, 2023 | 16.71% |
| Sep 30, 2023 | 24.99% |
| Jun 30, 2023 | 13.83% |
| Mar 31, 2023 | 14.04% |
| Dec 31, 2022 | 12.95% |
| Sep 30, 2022 | 22.64% |
| Jun 30, 2022 | 13.70% |
| Mar 31, 2022 | 13.60% |
| Dec 31, 2021 | 14.46% |
| Sep 30, 2021 | 23.80% |
API Access
Xcel Energy Inc Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=XEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "XEL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=XEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();