Xcel Energy Inc (XEL)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	17,616,000	17,309,000	16,914,000	16,818,000	16,675,000	16,384,000	15,971,000	15,732,000	15,612,000	15,171,000	14,792,000	14,700,000	14,575,000	13,777,000	13,385,000	13,302,000	13,239,000	13,141,000	12,366,000	12,329,000
Debt-to-capital ratio		0.57	0.55	0.56	0.56	0.56	0.56	0.58	0.59	0.62	0.62	0.63	0.62	0.63	0.64	0.65	0.60	0.60	0.60	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $22,927,000K ÷ ($22,927,000K + $17,616,000K)
= 0.57

The debt-to-capital ratio of Xcel Energy, Inc. has remained consistent at 0.60 throughout the quarters analyzed. This ratio indicates that 60% of the company's capital structure is funded by debt, with the remaining 40% funded by equity. A stable debt-to-capital ratio over multiple quarters suggests that Xcel Energy has a consistent approach to leveraging debt in its capital structure. This ratio reflects a moderate level of debt compared to equity, which may indicate a balanced risk profile for the company. However, it is important to consider other factors such as interest rates, debt maturity, and overall financial health when evaluating the company's debt management strategy.