Xcel Energy Inc (XEL)

Debt-to-assets ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	22,927,000	21,484,000	21,855,000	21,167,000	20,897,000	20,560,000	22,076,000	22,807,000	25,232,000	24,657,000	24,686,000	23,654,000	24,412,000	24,396,000	24,327,000	19,864,000	20,227,000	20,064,000	—	—
Total assets	US$ in thousands	64,079,000	62,870,000	61,658,000	60,945,000	61,188,000	59,975,000	59,317,000	57,985,000	57,851,000	57,517,000	56,779,000	56,511,000	53,957,000	53,708,000	53,456,000	51,133,000	50,448,000	50,240,000	48,584,000	47,850,000
Debt-to-assets ratio		0.36	0.34	0.35	0.35	0.34	0.34	0.37	0.39	0.44	0.43	0.43	0.42	0.45	0.45	0.46	0.39	0.40	0.40	0.00	0.00

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 remained relatively stable and consistent in recent quarters. The company's debt-to-assets ratio has ranged from 0.40 to 0.42 over the past eight quarters, with the latest ratio standing at 0.41 in Q4 2023. This indicates that, on average, around 40-42% of the company's assets are funded by debt.

A debt-to-assets ratio of 0.41 suggests that Xcel Energy relies more on equity financing (59%) rather than debt financing (41%) to support its operations and investments. A consistent ratio indicates a balanced capital structure and suggests that the company is effectively managing its debt levels relative to its asset base.

Overall, based on the stable trend of the debt-to-assets ratio, it appears that Xcel Energy has maintained a prudent approach to managing its debt and capital structure over the past two years.