Xcel Energy Inc (XEL)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | -1,973,000 | -2,054,000 | -1,789,000 | -1,813,000 | -1,574,000 |
| Revenue | US$ in thousands | 14,206,000 | 15,310,000 | 13,431,000 | 11,526,000 | 11,529,000 |
| Gross profit margin | -13.89% | -13.42% | -13.32% | -15.73% | -13.65% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $-1,973,000K ÷ $14,206,000K
= -13.89%
The gross profit margin of Xcel Energy, Inc. has shown fluctuation over the past five years. In 2023, the gross profit margin increased to 59.29% from 54.55% in 2022. This indicates that the company was able to generate more gross profit relative to its revenue in 2023 compared to the previous year, reflecting potentially improved cost management or pricing strategies.
However, it is worth noting that the gross profit margin in 2023 is lower than the levels seen in 2020 and 2019, which were 63.23% and 61.25% respectively. This suggests that Xcel Energy may have experienced some challenges in maintaining profitability in 2023 compared to those earlier years.
Overall, while the increase in gross profit margin from 2022 to 2023 is a positive indicator, further analysis into the factors driving these changes, such as cost structures, revenue streams, and market conditions, would be necessary to fully evaluate the financial performance of Xcel Energy, Inc.
Peer comparison
Dec 31, 2023