XCEL ENERGY INC (XEL) closed fiscal year 2025 with a gross margin of 47.2 % and a net margin of 13.8 %.
XCEL ENERGY INC (XEL) closed fiscal year 2025 with a gross margin of 47.2 % and a net margin of 13.8 %. The same year shows an EBITDA margin of 37.8 % and an EBIT margin of 17.6 %. The free cash flow margin was -46.5 %. Against the previous year the gross margin moved +1.5 pp and the net margin −0.6 pp. Across the period the gross margin ranges between 38.3 % in 2022 and 59.9 % in 2016. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | 59.93 % | 59.84 % | 59.29 % | — | — | — | 38.28 % | 42.09 % | 45.74 % | 47.20 % |
| EBITDA margin (%) | 21.49 % | 19.81 % | 23.89 % | 24.17 % | 25.25 % | 27.31 % | 26.11 % | 25.54 % | 28.51 % | 32.04 % | 32.60 % | 31.41 % | 33.73 % | 35.35 % | 32.36 % | 31.77 % | 34.86 % | 38.35 % | 37.84 % |
| EBIT margin (%) | 13.46 % | 12.41 % | 15.23 % | 15.71 % | 16.72 % | 18.00 % | 16.93 % | 16.67 % | 18.14 % | 20.17 % | 19.49 % | 17.03 % | 18.25 % | 18.36 % | 16.40 % | 15.86 % | 17.46 % | 17.75 % | 17.61 % |
| Net margin (%) | 5.75 % | 5.76 % | 7.06 % | 7.33 % | 7.89 % | 8.94 % | 8.69 % | 8.74 % | 8.93 % | 10.11 % | 10.07 % | 10.93 % | 11.90 % | 12.78 % | 11.89 % | 11.34 % | 12.47 % | 14.40 % | 13.76 % |
| FCF margin (%) | -4.64 % | 15.06 % | 19.83 % | 11.26 % | 22.58 % | 19.79 % | -7.43 % | -4.62 % | -5.85 % | -1.29 % | -1.03 % | -7.24 % | -8.34 % | -21.87 % | -15.30 % | -4.61 % | -3.71 % | -20.26 % | -46.53 % |
