Filing Flows › Xcel Energy (XEL) › Operating margin
Xcel Energy (XEL) operating margin by quarter
Xcel Energy's operating margin was 28.5% in Q3 2026 (third quarter 2026), +5.9 pts from Q2 2026. Over the last 7 quarters it ranged from 16.3% (Q4 2025) to 28.5% (Q3 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 28.5% | +5.9 pts | +9.4 pts |
| Q2 2026 | 22.6% | +3.9 pts | +5.1 pts |
| Q1 2026 | 18.8% | +2.5 pts | +1.4 pts |
| Q4 2025 | 16.3% | -2.8 pts | — |
| Q3 2025 | 19.1% | +1.6 pts | — |
| Q2 2025 | 17.6% | +0.2 pts | — |
| Q1 2025 | 17.3% | — | — |
Q3 2026 at a glance
Xcel Energy, Q3 2026: revenue $4.2B (+7% year over year), operating margin 28.5%, net earnings $960M, operating cash flow $2.1B. The chart follows the revenue to costs, profit and cash.
Questions
What is Xcel Energy's operating margin?
Xcel Energy's operating margin was 28.5% in Q3 2026 (third quarter 2026), +5.9 pts from Q2 2026.
How has Xcel Energy's operating margin changed?
Over the last 7 quarters it ranged from 16.3% (Q4 2025) to 28.5% (Q3 2026).