Xcel Energy Inc (XEL)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 22,927,000 | 20,897,000 | 25,232,000 | 24,412,000 | 20,227,000 |
| Total assets | US$ in thousands | 64,079,000 | 61,188,000 | 57,851,000 | 53,957,000 | 50,448,000 |
| Debt-to-assets ratio | 0.36 | 0.34 | 0.44 | 0.45 | 0.40 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $22,927,000K ÷ $64,079,000K
= 0.36
The debt-to-assets ratio of Xcel Energy, Inc. has shown a slight increase over the past five years, indicating that the company has been gradually relying more on debt to finance its operations and investments compared to its total assets.
In 2023, the debt-to-assets ratio increased to 0.41 from 0.40 in 2022, continuing the trend of incremental growth. This suggests that a larger proportion of the company's assets are being financed through debt.
While the increase in the debt-to-assets ratio may indicate potential financial risk associated with higher debt levels, it is essential to assess this ratio in conjunction with other financial metrics and industry benchmarks to gain a comprehensive understanding of Xcel Energy's overall financial health and leverage position.
Peer comparison
Dec 31, 2023