What is the current annual operating margin of XEL?

As of today, XEL annual operating margin is 19.63%

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

XEL annual operating margin is up +8.57% year-over-year

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

XEL annual operating margin is up +23.46% over the past 3 years

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

XEL annual operating margin is currently -34.11% below its historical high of 29.79% set on December 31, 1989

How does XEL annual operating margin rank versus sector peers?

XEL annual operating margin is higher than 51.38% of companies in Utilities sector

When is XEL next annual earnings release?

As of today, the next annual earnings release for XEL has not been scheduled

What is the current quarterly operating margin of XEL?

As of today, XEL quarterly operating margin is 23.05%

What is XEL quarterly operating margin most recent change?

XEL quarterly operating margin was up +24.80% on June 30, 2026

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

XEL quarterly operating margin is up +32.47% year-over-year

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

XEL quarterly operating margin is currently -37.53% below its historical high of 36.90% set on December 31, 1996

How does XEL quarterly operating margin rank versus sector peers?

XEL quarterly operating margin is higher than 68.93% of companies in Utilities sector

When is XEL next earnings release?

The next earnings release for XEL is on October 29, 2026

XEL Operating Margin History & Chart Since 1980

Annual Operating Margin

19.63%1.55%+8.57%

December 31, 2025

Summary

Current Value: As of today, XEL annual operating margin is 19.63%, up +8.57% on December 31, 2025
Historical Performance: XEL annual operating margin is up +23.46% over the past 3 years, up +6.22% over the past 5 years
All-Time High Comparison: XEL annual operating margin is currently -34.11% below its historical high of 29.79% set on December 31, 1989
3-Year Low Comparison: XEL annual operating margin is +23.46% above its 3-year low of 15.90% reached on an earlier date
Sector Comparison: XEL annual operating margin is higher than 51.38% of companies in Utilities sector

Operating Margin Chart

beforeafter

Performance

XEL Performance
Metric	Date	Value	1Y	3Y	5Y	15Y
Annual Operating Margin	Dec 31, 25	19.63%	+8.6%	+23.5%	+6.2%	+25.4%
Quarterly Operating Margin	Jun 30, 26	23.05%	+32.5%	+64.6%	+65.3%	+56.8%
Price	Aug 12, 26	$78.60	+7.8%	+31.7%	+13.8%	+243.4%
PE Ratio	Aug 12, 26	21.51	+6.3%	+13.7%	-8.7%	+60.2%
Annual Revenue	Dec 31, 25	$14.67B	+8.9%	-4.0%	+27.3%	+42.5%
Annual Operating Profit	Dec 31, 25	$2.88B	+18.2%	+18.5%	+35.2%	+78.6%
Annual Gross Margin	Dec 31, 25	24.30%	+7.0%	+19.1%	+2.1%	+28.7%
Annual Net Margin	Dec 31, 25	13.76%	-4.2%	+21.1%	+7.7%	+88.5%

Operating Margin Highs

XEL Annual Operating Margin Highs Comparison
Period	High	Date	Current
3Y	19.63%	Dec 31, 25	at high
5Y	19.63%	Dec 31, 25	at high
All	29.79%	Dec 31, 89	-34.1%

Operating Margin Lows

XEL Annual Operating Margin Lows Comparison
Period	Low	Date	Current
3Y	15.90%	N/A	+23.5%
5Y	15.90%	Dec 31, 22	+23.5%
All	11.35%	Dec 31, 05	+73.0%

Operating Margin History

Year	Value	Change
2025	19.63%	+8.6%
2024	18.08%	-2.0%
2023	18.45%	+16.0%
2022	15.90%	-1.7%
2021	16.17%	-12.5%
2020	18.48%	+1.5%
2019	18.20%	+7.2%
2018	16.97%	-12.9%
2017	19.48%	-2.6%
2016	19.99%	+2.6%
2015	19.48%	+16.2%
2014	16.77%	-0.8%
2013	16.90%	-5.6%
2012	17.90%	+7.4%
2011	16.67%	+6.5%
2010	15.65%	+0.8%
2009	15.52%	+25.2%
2008	12.40%	-7.9%
2007	13.46%	+12.5%
2006	11.96%	+5.4%
2005	11.35%	-13.3%
2004	13.09%	-5.9%
2003	13.91%	-5.7%

Year	Value	Change
2002	14.75%	+22.2%
2001	12.07%	-15.5%
2000	14.28%	-13.0%
1999	16.41%	-9.2%
1998	18.08%	-2.4%
1997	18.53%	-6.7%
1996	19.87%	+3.5%
1995	19.19%	+9.0%
1994	17.60%	-2.1%
1993	17.98%	+12.0%
1992	16.05%	-16.4%
1991	19.21%	-1.6%
1990	19.53%	-34.4%
1989	29.79%	+2.4%
1988	29.09%	+34.1%
1987	21.70%	-1.0%
1986	21.91%	-2.3%
1985	22.43%	+0.2%
1984	22.38%	-10.9%
1983	25.12%	+4.0%
1982	24.16%	-2.1%
1981	24.69%	+9.1%
1980	22.64%	-

FAQ

What is the current annual operating margin of XEL?: As of today, XEL annual operating margin is 19.63%
What is 1-year change in XEL annual operating margin?: XEL annual operating margin is up +8.57% year-over-year
What is 3-year change in XEL annual operating margin?: XEL annual operating margin is up +23.46% over the past 3 years
How far is XEL annual operating margin from its all-time high?: XEL annual operating margin is currently -34.11% below its historical high of 29.79% set on December 31, 1989
How does XEL annual operating margin rank versus sector peers?: XEL annual operating margin is higher than 51.38% of companies in Utilities sector
When is XEL next annual earnings release?: As of today, the next annual earnings release for XEL has not been scheduled

Operating Margin Formula

Operating Profit Margin = Operating Income

Revenue × 100%

Quarterly Operating Margin

23.05%4.58%+24.80%

June 30, 2026

Summary

Current Value: As of today, XEL quarterly operating margin is 23.05%, up +24.80% on June 30, 2026
Historical Performance: XEL quarterly operating margin is up +32.47% year-over-year, up +64.64% over the past 3 years
All-Time High Comparison: XEL quarterly operating margin is currently -37.53% below its historical high of 36.90% set on December 31, 1996
3-Year Low Comparison: XEL quarterly operating margin is +98.71% above its 3-year low of 11.60% reached on December 31, 2024
Sector Comparison: XEL quarterly operating margin is higher than 68.93% of companies in Utilities sector

Performance

XEL Performance
Metric	Date	Value	3M	1Y	3Y	5Y
Quarterly Operating Margin	Jun 30, 26	23.05%	+24.8%	+32.5%	+64.6%	+65.3%
Annual Operating Margin	Dec 31, 25	19.63%	–	+8.6%	+23.5%	+6.2%
Price	Aug 12, 26	$78.60	-1.6%	+7.8%	+31.7%	+13.8%
PE Ratio	Aug 12, 26	21.51	-6.5%	+6.3%	+13.7%	-8.7%
Quarterly Revenue	Jun 30, 26	$3.12B	-22.4%	-4.9%	+3.0%	+2.1%
Quarterly Operating Profit	Jun 30, 26	$719.00M	-3.1%	+25.9%	+69.6%	+68.8%
Quarterly Gross Margin	Jun 30, 26	28.73%	+24.8%	+26.8%	+55.0%	+50.6%
Quarterly Net Margin	Jun 30, 26	18.79%	+35.8%	+38.9%	+97.6%	+84.6%

Quarterly Operating Margin Highs

XEL Quarterly Operating Margin Highs Comparison
Period	High	Date	Current
1Y	26.42%	Sep 30, 25	-12.8%
3Y	26.42%	Sep 30, 25	-12.8%
5Y	26.42%	Sep 30, 25	-12.8%
All	36.90%	Dec 31, 96	-37.5%

Quarterly Operating Margin Lows

XEL Quarterly Operating Margin Lows Comparison
Period	Low	Date	Current
1Y	16.75%	Dec 31, 25	+37.6%
3Y	11.60%	Dec 31, 24	+98.7%
5Y	11.60%	Dec 31, 24	+98.7%
All	-222.53%	Dec 31, 97	+110.4%

Quarterly Operating Margin History

Month	Value	Change
Jun 2026	23.05%	+24.8%
Mar 2026	18.47%	+10.3%
Dec 2025	16.75%	-36.6%
Sep 2025	26.42%	+51.8%
Jun 2025	17.40%	-3.0%
Mar 2025	17.94%	+54.7%
Dec 2024	11.60%	-53.5%
Sep 2024	24.94%	+63.9%
Jun 2024	15.22%	-20.6%
Mar 2024	19.17%	+0.5%
Dec 2023	19.08%	-26.4%
Sep 2023	25.91%	+85.1%
Jun 2023	14.00%	-3.6%
Mar 2023	14.53%	+10.8%
Dec 2022	13.11%	-41.4%
Sep 2022	22.39%	+65.6%
Jun 2022	13.52%	-6.4%
Mar 2022	14.44%	+11.9%
Dec 2021	12.90%	-45.7%
Sep 2021	23.77%	+70.5%
Jun 2021	13.94%	+0.9%
Mar 2021	13.82%	-5.9%
Dec 2020	14.69%	-42.4%
Sep 2020	25.50%	+55.3%
Jun 2020	16.42%	+0.3%
Mar 2020	16.37%	+3.0%
Dec 2019	15.90%	-36.7%
Sep 2019	25.13%	+59.6%
Jun 2019	15.75%	+1.4%
Mar 2019	15.54%	+31.3%
Dec 2018	11.84%	-47.9%
Sep 2018	22.71%	+34.6%
Jun 2018	16.87%	+3.8%
Mar 2018	16.25%	+3.0%
Dec 2017	15.78%	-42.2%
Sep 2017	27.29%	+56.6%
Jun 2017	17.43%	+4.9%
Mar 2017	16.61%	-1.1%
Dec 2016	16.79%	-38.2%
Sep 2016	27.16%	+57.4%
Jun 2016	17.25%	-3.2%
Mar 2016	17.82%	+6.1%
Dec 2015	16.80%	-38.2%
Sep 2015	27.19%	+63.1%
Jun 2015	16.67%	+5.5%
Mar 2015	15.80%	+15.9%
Dec 2014	13.63%	-41.4%
Sep 2014	23.25%	+57.4%
Jun 2014	14.77%	-5.6%
Mar 2014	15.65%	+29.3%
Dec 2013	12.10%	-48.2%
Sep 2013	23.37%	+49.6%
Jun 2013	15.62%	-3.9%
Mar 2013	16.25%	+31.5%
Dec 2012	12.36%	-52.9%
Sep 2012	26.24%	+47.6%
Jun 2012	17.78%	+21.0%
Mar 2012	14.69%	+9.5%
Dec 2011	13.42%	-41.7%
Sep 2011	23.00%	+56.5%
Jun 2011	14.70%	-1.9%
Mar 2011	14.98%	+19.4%
Dec 2010	12.55%	-41.7%
Sep 2010	21.54%	+52.5%
Jun 2010	14.12%	-0.8%

Month	Value	Change
Mar 2010	14.24%	-9.7%
Dec 2009	15.77%	-21.4%
Sep 2009	20.06%	+44.3%
Jun 2009	13.90%	-6.3%
Mar 2009	14.84%	+15.6%
Dec 2008	12.84%	-17.9%
Sep 2008	15.64%	+58.6%
Jun 2008	9.86%	-9.5%
Mar 2008	10.90%	-1.8%
Dec 2007	11.10%	-46.2%
Sep 2007	20.62%	+61.7%
Jun 2007	12.75%	+26.7%
Mar 2007	10.06%	+8.2%
Dec 2006	9.30%	-45.3%
Sep 2006	17.01%	+57.1%
Jun 2006	10.83%	0.0%
Mar 2006	10.83%	+24.8%
Dec 2005	8.68%	-45.6%
Sep 2005	15.95%	+62.8%
Jun 2005	9.80%	-14.8%
Mar 2005	11.50%	+18.1%
Dec 2004	9.74%	-43.1%
Sep 2004	17.11%	+51.8%
Jun 2004	11.27%	-20.6%
Mar 2004	14.20%	+13.3%
Dec 2003	12.53%	-29.2%
Sep 2003	17.69%	+80.5%
Jun 2003	9.80%	-20.7%
Mar 2003	12.36%	+202.2%
Dec 2002	4.09%	-79.3%
Sep 2002	19.79%	+67.4%
Jun 2002	11.82%	+14.1%
Mar 2002	10.36%	-13.7%
Dec 2001	12.00%	-29.2%
Sep 2001	16.94%	+33.9%
Jun 2001	12.65%	+12.7%
Mar 2001	11.22%	+48.0%
Dec 2000	7.58%	-63.4%
Sep 2000	20.71%	+51.5%
Jun 2000	13.67%	-3.0%
Mar 2000	14.09%	+9.6%
Dec 1999	12.86%	-41.7%
Sep 1999	22.05%	+120.5%
Jun 1999	10.00%	-45.5%
Mar 1999	18.36%	-43.2%
Dec 1998	32.35%	+83.7%
Sep 1998	17.61%	+72.8%
Jun 1998	10.19%	-9.6%
Mar 1998	11.27%	+105.1%
Dec 1997	-222.53%	-3,724.3%
Jun 1997	6.14%	-48.5%
Mar 1997	11.92%	-67.7%
Dec 1996	36.90%	+121.5%
Sep 1996	16.66%	+39.2%
Jun 1996	11.97%	-3.7%
Mar 1996	12.43%	-64.0%
Dec 1995	34.57%	+105.8%
Sep 1995	16.80%	+45.2%
Jun 1995	11.57%	-12.9%
Mar 1995	13.28%	-59.0%
Dec 1994	32.40%	+122.8%
Sep 1994	14.54%	+28.8%
Jun 1994	11.29%	-10.0%
Mar 1994	12.54%	-

FAQ

What is the current quarterly operating margin of XEL?: As of today, XEL quarterly operating margin is 23.05%
What is XEL quarterly operating margin most recent change?: XEL quarterly operating margin was up +24.80% on June 30, 2026
What is 1-year change in XEL quarterly operating margin?: XEL quarterly operating margin is up +32.47% year-over-year
How far is XEL quarterly operating margin from its all-time high?: XEL quarterly operating margin is currently -37.53% below its historical high of 36.90% set on December 31, 1996
How does XEL quarterly operating margin rank versus sector peers?: XEL quarterly operating margin is higher than 68.93% of companies in Utilities sector
When is XEL next earnings release?: The next earnings release for XEL is on October 29, 2026

Operating Margin Formula

Operating Profit Margin = Operating Income

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