XELXcel Energy

Utilities · Electric & Gas Utilities · Nasdaq

Xcel Energy Inc.’s Subsidiaries and Affiliates (current and former) Capital Services Capital Services, LLC Eloigne Eloigne Company e prime e prime inc. 10-K, Item 1

Employees: 11,534
Headquarters: Minneapolis, MN
CEO: Robert Frenzel
Next results: around Feb 4, 2027

Compare with peers → Embed

RevenueFY2016–25 $14.7B+9.1% FY2024: $13.4B 10-K FY2025 · XBRL Net incomeFY2016–25 $2.0B+4.2% Highest in 10 years 10-K FY2025 · XBRL Free cash flowFY2016–25 −$6.8B FY2024: −$2.7B 10-K FY2025 · XBRL Operating marginFY2016–25 17.6%−0.1 pts 20.2% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 25, 2026 against Feb 27, 2025

Area	What changed	Source
Risk factors	12 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Accounting checks	10 other checks clear	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	7 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 25, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-27. Quoted as filed.

Actions of our employees, directors, third-party contractors or suppliers could expose us to reputational risks. We could suffer negative impacts to our reputation as a result of actual or perceived fraud, misconduct, legal or regulatory violations, violations of corporate policies, inappropriate use of social media, or other actions by…
10-K, Item 1A

All 12 new paragraphs →

Accounting checks

latest 10-K

10 of 10 clear 0 worth a look. Checks, not verdicts.

✓
Receivables +6.5% vs revenue +9.1% (-2.7 pts)
✓
Cash from operations $4.1B vs net income $2.0B (FY ending 2025-12-31)
✓
Same auditor in both 10-Ks: DELOITTE & TOUCHE LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No longer listed: Commitments and Contingencies - Wildfires
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Nov 5, 20268-K New debt or obligation, Unregistered share sale 8-K items 2.03, 3.02
Nov 3, 20268-K Other events 8-K item 8.01
Nov 2, 20268-K Other events 8-K item 8.01
Oct 30, 2026Offering At-the-market program: up to $6.0B of common stock 424B5 · We may offer and sell shares of our common stock (par value $2.50 per share) having an aggregate gross sales price of up to $6,000,000,000 from time to time through the sales agents named below pursuant to the terms of an equity distribution agreement.
Oct 30, 20268-K Other events 8-K item 8.01

2 more →

Get an email when this changes: new risk paragraphs, accounting items, insider purchases, a new 10-K or 10-Q. RSS feed

Work on XEL in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/XEL/export.csv") into a cell.