What is the current annual gross margin of XEL?

As of today, XEL annual gross margin is 24.30%

What is 1-year change in XEL annual gross margin?

XEL annual gross margin is up +7.00% year-over-year

What is 3-year change in XEL annual gross margin?

XEL annual gross margin is up +19.12% over the past 3 years

How far is XEL annual gross margin from its all-time high?

XEL annual gross margin is currently -59.08% below its historical high of 59.38% set on December 31, 1991

How does XEL annual gross margin rank versus sector peers?

XEL annual gross margin is higher than 39.81% of companies in Utilities sector

When is XEL next annual earnings release?

The next annual earnings release for XEL is on February 4, 2027

What is the current quarterly gross margin of XEL?

As of today, XEL quarterly gross margin is 33.17%

What is XEL quarterly gross margin most recent change?

XEL quarterly gross margin was up +15.45% on September 30, 2026

What is 1-year change in XEL quarterly gross margin?

XEL quarterly gross margin is up +7.62% year-over-year

How far is XEL quarterly gross margin from its all-time high?

XEL quarterly gross margin is currently -55.08% below its historical high of 73.84% set on September 30, 1996

How does XEL quarterly gross margin rank versus sector peers?

XEL quarterly gross margin is higher than 66.67% of companies in Utilities sector

When is XEL next earnings release?

The next earnings release for XEL is on February 4, 2027

XEL Gross Margin History & Chart Since 1980

Annual Gross Margin

24.30%1.59%+7.00%

December 31, 2025

Summary

Current Value: As of today, XEL annual gross margin is 24.30%, up +7.00% on December 31, 2025
Historical Performance: XEL annual gross margin is up +19.12% over the past 3 years, up +2.14% over the past 5 years
All-Time High Comparison: XEL annual gross margin is currently -59.08% below its historical high of 59.38% set on December 31, 1991
3-Year Low Comparison: XEL annual gross margin is +19.12% above its 3-year low of 20.40% reached on an earlier date
Sector Comparison: XEL annual gross margin is higher than 39.81% of companies in Utilities sector

Gross Margin Chart

beforeafter

Performance

XEL Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Gross Margin	Dec 31, 25	24.30%	+7.0%	+19.1%	+2.1%	+28.7%
Quarterly Gross Margin	Sep 30, 26	33.17%	+7.6%	+8.8%	+17.8%	+26.9%
Price	Oct 30, 26	$79.82	-1.7%	+30.7%	+23.4%	+209.0%
PE Ratio	Oct 30, 26	18.60	-24.9%	-3.8%	-16.1%	+24.3%
Annual Revenue	Dec 31, 25	$14.67B	+8.9%	-4.0%	+27.3%	+42.5%
Annual Gross Profit	Dec 31, 25	$3.57B	+16.5%	+14.3%	+30.0%	+83.4%
Annual Operating Margin	Dec 31, 25	19.63%	+8.6%	+23.5%	+6.2%	+25.4%
Annual Net Margin	Dec 31, 25	13.76%	-4.2%	+21.1%	+7.7%	+88.5%

Gross Margin Highs

XEL Annual Gross Margin Highs Comparison
Period	High	Date	Current
3Y	24.30%	Dec 31, 25	at high
5Y	24.30%	Dec 31, 25	at high
All	59.38%	Dec 31, 91	-59.1%

Gross Margin Lows

XEL Annual Gross Margin Lows Comparison
Period	Low	Date	Current
3Y	20.40%	N/A	+19.1%
5Y	20.40%	Dec 31, 22	+19.1%
All	0.00%	Dec 1, 80	N/A

Gross Margin History

Year	Value	Change
2025	24.30%	+7.0%
2024	22.71%	-1.6%
2023	23.07%	+13.1%
2022	20.40%	-2.3%
2021	20.89%	-12.2%
2020	23.79%	+2.8%
2019	23.14%	+6.2%
2018	21.79%	-10.2%
2017	24.26%	-2.1%
2016	24.78%	+2.7%
2015	24.12%	+16.2%
2014	20.76%	0.0%
2013	20.76%	-5.4%
2012	21.94%	+8.7%
2011	20.19%	+6.9%
2010	18.88%	+1.0%
2009	18.70%	+25.0%
2008	14.96%	-7.8%
2007	16.23%	+8.4%
2006	14.97%	+4.4%
2005	14.34%	-60.7%
2004	36.45%	+103.2%
2003	17.94%	-1.0%

Year	Value	Change
2002	18.12%	+27.5%
2001	14.21%	-18.1%
2000	17.36%	-65.9%
1999	50.94%	+6.9%
1998	47.66%	-1.0%
1997	48.13%	-2.9%
1996	49.55%	-1.6%
1995	50.35%	+3.6%
1994	48.59%	-12.4%
1993	55.46%	-4.0%
1992	57.80%	-2.7%
1991	59.38%	>+9,900.0%
1990	0.00%	0.0%
1989	0.00%	0.0%
1988	0.00%	0.0%
1987	0.00%	0.0%
1986	0.00%	0.0%
1985	0.00%	0.0%
1984	0.00%	0.0%
1983	0.00%	0.0%
1982	0.00%	0.0%
1981	0.00%	0.0%
1980	0.00%	-

FAQ

What is the current annual gross margin of XEL?: As of today, XEL annual gross margin is 24.30%
What is 1-year change in XEL annual gross margin?: XEL annual gross margin is up +7.00% year-over-year
What is 3-year change in XEL annual gross margin?: XEL annual gross margin is up +19.12% over the past 3 years
How far is XEL annual gross margin from its all-time high?: XEL annual gross margin is currently -59.08% below its historical high of 59.38% set on December 31, 1991
How does XEL annual gross margin rank versus sector peers?: XEL annual gross margin is higher than 39.81% of companies in Utilities sector
When is XEL next annual earnings release?: The next annual earnings release for XEL is on February 4, 2027

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Quarterly Gross Margin

33.17%4.44%+15.45%

September 30, 2026

Summary

Current Value: As of today, XEL quarterly gross margin is 33.17%, up +15.45% on September 30, 2026
Historical Performance: XEL quarterly gross margin is up +7.62% year-over-year, up +8.75% over the past 3 years
All-Time High Comparison: XEL quarterly gross margin is currently -55.08% below its historical high of 73.84% set on September 30, 1996
3-Year Low Comparison: XEL quarterly gross margin is +106.28% above its 3-year low of 16.08% reached on December 31, 2024
Sector Comparison: XEL quarterly gross margin is higher than 66.67% of companies in Utilities sector

Performance

XEL Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Gross Margin	Sep 30, 26	33.17%	+15.4%	+7.6%	+8.8%	+17.8%
Annual Gross Margin	Dec 31, 25	24.30%	–	+7.0%	+19.1%	+2.1%
Price	Oct 30, 26	$79.82	+2.1%	-1.7%	+30.7%	+23.4%
PE Ratio	Oct 30, 26	18.60	-13.1%	-24.9%	-3.8%	-16.1%
Quarterly Revenue	Sep 30, 26	$4.17B	+33.6%	+6.5%	+13.8%	+20.2%
Quarterly Gross Profit	Sep 30, 26	$1.38B	+54.2%	+14.6%	+23.7%	+41.6%
Quarterly Operating Margin	Sep 30, 26	28.90%	+25.4%	+9.4%	+11.5%	+21.6%
Quarterly Net Margin	Sep 30, 26	23.04%	+22.6%	+72.1%	+28.6%	+31.1%

Quarterly Gross Margin Highs

XEL Quarterly Gross Margin Highs Comparison
Period	High	Date	Current
1Y	33.17%	Sep 30, 26	at high
3Y	33.17%	Sep 30, 26	at high
5Y	33.17%	Sep 30, 26	at high
All	73.84%	Sep 30, 96	-55.1%

Quarterly Gross Margin Lows

XEL Quarterly Gross Margin Lows Comparison
Period	Low	Date	Current
1Y	21.58%	Dec 31, 25	+53.7%
3Y	16.08%	Dec 31, 24	+106.3%
5Y	16.08%	Dec 31, 24	+106.3%
All	11.01%	Dec 31, 05	+201.3%

Quarterly Gross Margin History

Month	Value	Change
Sep 2026	33.17%	+15.5%
Jun 2026	28.73%	+24.8%
Mar 2026	23.03%	+6.7%
Dec 2025	21.58%	-30.0%
Sep 2025	30.82%	+36.1%
Jun 2025	22.65%	+1.7%
Mar 2025	22.28%	+38.6%
Dec 2024	16.08%	-45.1%
Sep 2024	29.31%	+44.5%
Jun 2024	20.28%	-14.9%
Mar 2024	23.84%	-0.5%
Dec 2023	23.96%	-21.4%
Sep 2023	30.50%	+64.6%
Jun 2023	18.53%	-2.7%
Mar 2023	19.04%	+10.8%
Dec 2022	17.19%	-35.5%
Sep 2022	26.64%	+42.0%
Jun 2022	18.76%	-1.2%
Mar 2022	18.98%	+7.7%
Dec 2021	17.63%	-37.4%
Sep 2021	28.16%	+47.6%
Jun 2021	19.08%	+3.3%
Mar 2021	18.47%	-8.1%
Dec 2020	20.09%	-34.1%
Sep 2020	30.47%	+38.2%
Jun 2020	22.05%	+1.8%
Mar 2020	21.67%	+3.5%
Dec 2019	20.93%	-29.5%
Sep 2019	29.68%	+39.5%
Jun 2019	21.27%	+4.7%
Mar 2019	20.32%	+21.9%
Dec 2018	16.67%	-38.6%
Sep 2018	27.14%	+23.2%
Jun 2018	22.03%	+4.1%
Mar 2018	21.17%	+2.9%
Dec 2017	20.58%	-35.1%
Sep 2017	31.73%	+40.7%
Jun 2017	22.55%	+5.2%
Mar 2017	21.44%	-0.2%
Dec 2016	21.48%	-30.8%
Sep 2016	31.02%	+36.1%
Jun 2016	22.79%	-1.2%
Mar 2016	23.07%	+7.7%
Dec 2015	21.42%	-31.8%
Sep 2015	31.42%	+43.9%
Jun 2015	21.83%	+6.9%
Mar 2015	20.42%	+18.2%
Dec 2014	17.28%	-36.8%
Sep 2014	27.35%	+43.1%
Jun 2014	19.11%	-2.2%
Mar 2014	19.54%	+24.1%
Dec 2013	15.75%	-41.9%
Sep 2013	27.11%	+38.5%
Jun 2013	19.58%	-3.7%
Mar 2013	20.33%	+24.0%
Dec 2012	16.40%	-45.2%
Sep 2012	29.94%	+35.1%
Jun 2012	22.16%	+17.9%
Mar 2012	18.79%	+9.3%
Dec 2011	17.19%	-34.3%
Sep 2011	26.15%	+41.4%
Jun 2011	18.49%	+0.4%
Mar 2011	18.41%	+15.3%
Dec 2010	15.97%	-35.2%
Sep 2010	24.65%	+39.8%

Month	Value	Change
Jun 2010	17.63%	+2.8%
Mar 2010	17.15%	-8.4%
Dec 2009	18.73%	-20.2%
Sep 2009	23.47%	+33.9%
Jun 2009	17.53%	-1.0%
Mar 2009	17.70%	+15.2%
Dec 2008	15.37%	-15.1%
Sep 2008	18.10%	+44.9%
Jun 2008	12.49%	-7.6%
Mar 2008	13.52%	-1.2%
Dec 2007	13.68%	-41.5%
Sep 2007	23.37%	+49.1%
Jun 2007	15.67%	+21.6%
Mar 2007	12.89%	+4.6%
Dec 2006	12.32%	-38.3%
Sep 2006	19.97%	+39.9%
Jun 2006	14.27%	+5.3%
Mar 2006	13.55%	+23.1%
Dec 2005	11.01%	-42.6%
Sep 2005	19.17%	-45.1%
Jun 2005	34.91%	+9.7%
Mar 2005	31.81%	-3.0%
Dec 2004	32.80%	-18.7%
Sep 2004	40.35%	+6.2%
Jun 2004	38.00%	+6.5%
Mar 2004	35.69%	+115.8%
Dec 2003	16.54%	-45.8%
Sep 2003	30.49%	+59.5%
Jun 2003	19.11%	+24.1%
Mar 2003	15.40%	+0.1%
Dec 2002	15.38%	-31.9%
Sep 2002	22.59%	+66.6%
Jun 2002	13.56%	+9.6%
Mar 2002	12.37%	-13.4%
Dec 2001	14.29%	-13.7%
Sep 2001	16.55%	+23.9%
Jun 2001	13.36%	-39.7%
Mar 2001	22.14%	+71.1%
Dec 2000	12.94%	-70.8%
Sep 2000	44.31%	-15.0%
Jun 2000	52.13%	+9.6%
Mar 2000	47.55%	+0.7%
Dec 1999	47.21%	-10.7%
Sep 1999	52.86%	+0.3%
Jun 1999	52.72%	+4.4%
Mar 1999	50.52%	+84.6%
Dec 1998	27.36%	-53.1%
Sep 1998	58.33%	+7.7%
Jun 1998	54.18%	-13.6%
Mar 1998	62.68%	-9.5%
Jun 1997	69.27%	+14.1%
Mar 1997	60.73%	-4.5%
Dec 1996	63.56%	-13.9%
Sep 1996	73.84%	+6.2%
Jun 1996	69.53%	+11.8%
Mar 1996	62.18%	-7.2%
Dec 1995	66.97%	-6.7%
Sep 1995	71.79%	+5.8%
Jun 1995	67.88%	+5.2%
Mar 1995	64.53%	-3.1%
Dec 1994	66.62%	-4.9%
Sep 1994	70.08%	+5.1%
Jun 1994	66.65%	+6.1%
Mar 1994	62.79%	-

FAQ

What is the current quarterly gross margin of XEL?: As of today, XEL quarterly gross margin is 33.17%
What is XEL quarterly gross margin most recent change?: XEL quarterly gross margin was up +15.45% on September 30, 2026
What is 1-year change in XEL quarterly gross margin?: XEL quarterly gross margin is up +7.62% year-over-year
How far is XEL quarterly gross margin from its all-time high?: XEL quarterly gross margin is currently -55.08% below its historical high of 73.84% set on September 30, 1996
How does XEL quarterly gross margin rank versus sector peers?: XEL quarterly gross margin is higher than 66.67% of companies in Utilities sector
When is XEL next earnings release?: The next earnings release for XEL is on February 4, 2027

Gross Margin Formula

Gross Margin = Gross Profit

Revenue × 100%

Data Sources & References

XEL Official Website mn.my.xcelenergy.com/s/
Most Recent Annual Report (10-K) www.sec.gov/Archives/edgar/data/72903/000119312526033694/0001193125-26-033694-index.htm
XEL Profile on Yahoo Finance finance.yahoo.com/quote/XEL
XEL Profile on NASDAQ.com www.nasdaq.com/market-activity/stocks/xel