Xcel Energy Inc (XEL)

Pretax margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	1,534,000	1,731,000	1,735,000	1,721,000	1,625,000	1,585,000	1,582,000	1,636,000	1,601,000	1,539,000	1,498,000	1,517,000	1,527,000	1,523,000	1,517,000	1,518,000	1,467,000	1,508,000	1,461,000	1,449,000
Revenue (ttm)	US$ in thousands	13,463,000	13,785,000	13,803,000	13,783,000	14,206,000	14,817,000	15,237,000	15,639,000	15,310,000	14,612,000	13,997,000	13,641,000	13,431,000	13,023,000	12,738,000	12,256,000	11,526,000	11,377,000	11,208,000	11,199,000
Pretax margin		11.39%	12.56%	12.57%	12.49%	11.44%	10.70%	10.38%	10.46%	10.46%	10.53%	10.70%	11.12%	11.37%	11.69%	11.91%	12.39%	12.73%	13.25%	13.04%	12.94%

December 31, 2024 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,534,000K ÷ $13,463,000K
= 11.39%

Xcel Energy Inc's pretax margin has shown a gradual decline from the first quarter of 2022 to the fourth quarter of 2024. The pretax margin was 12.94% in March 2020, reaching its peak at 13.25% in September 2020. However, it began to decrease thereafter, dropping to 10.46% by December 2022. There was a slight increase in the pretax margin in the first and second quarters of 2023, but it fell again in the third quarter of 2023.

The pretax margin then exhibited some volatility, fluctuating between 10.38% and 12.57% in the following quarters. Notably, there was a significant jump in the pretax margin to 12.49% in March 2024, followed by 12.57% in June 2024. However, this increase was not sustained as the pretax margin declined to 11.39% by December 2024.

Overall, the trend in Xcel Energy Inc's pretax margin indicates fluctuations but with a general decreasing pattern over the analyzed period.