Xcel Energy Inc (XEL)

Debt-to-equity 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-equity ratio		1.30	1.24	1.29	1.26	1.25	1.25	1.38	1.45	1.62	1.63	1.67	1.61	1.67	1.77	1.82	1.49	1.53	1.53	0.00	0.00

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $22,927,000K ÷ $17,616,000K
= 1.30

The debt-to-equity ratio of Xcel Energy, Inc. has remained relatively stable over the past eight quarters, ranging from 1.47 to 1.51. This indicates that the company's capital structure is skewed more towards debt financing compared to equity. A ratio above 1 suggests that the company relies more on debt to finance its operations and growth initiatives. It is important to closely monitor this ratio as higher levels of debt can increase financial risk and interest payment obligations. Overall, Xcel Energy, Inc. should continue to assess its capital structure to ensure a healthy balance between debt and equity financing.