Xcel Energy Inc (XEL)

Solvency ratios

	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
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
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
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
Financial leverage ratio	3.64	3.63	3.65	3.62	3.67	3.66	3.71	3.69	3.71	3.79	3.84	3.84	3.70	3.90	3.99	3.84	3.81	3.82	3.93	3.88

The solvency ratios of Xcel Energy, Inc. provide insights into the company's ability to meet its long-term financial obligations. Over the past eight quarters, the debt-to-assets ratio has remained relatively stable, hovering around 0.41 to 0.42. This indicates that, on average, 41% to 42% of the company's total assets are financed by debt.

Similarly, the debt-to-capital ratio has also been constant at 0.60, meaning that 60% of Xcel Energy's capital structure comprises debt. The debt-to-equity ratio fluctuated between 1.47 to 1.51 over the same period, indicating that the company has been utilizing more debt compared to equity in financing its operations.

The financial leverage ratio, which measures the extent of a company's financial leverage, shows a varying trend between 3.62 to 3.71 over the past two years. This suggests that Xcel Energy has been relying on debt to magnify returns to shareholders, which can increase risks in times of financial stress.

Overall, while Xcel Energy maintains healthy solvency ratios, the slight upward trend in the debt ratios and financial leverage ratio should be monitored to ensure the company's long-term financial stability and ability to meet its obligations.

Coverage ratios

	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
Interest coverage	2.54	2.53	2.56	2.65	2.68	2.65	2.66	2.75	2.78	2.81	2.78	2.79	2.75	2.83	2.82	2.85	2.94	2.87	2.88	2.99

The interest coverage ratio for Xcel Energy, Inc. has shown a relatively stable trend over the past eight quarters. The ratio has consistently remained above 2.0, indicating that the company's operating income has been sufficient to cover its interest expense.

The slight fluctuations in the ratio from quarter to quarter, ranging from 2.40 to 2.68, suggest that Xcel Energy has been able to comfortably meet its interest obligations. Higher interest coverage ratios generally indicate a lower risk of default on debt payments.

Overall, Xcel Energy's interest coverage ratio reflects a healthy financial position with a consistent ability to generate enough operating income to cover its interest expenses.