Xcel Energy (XEL) FY2019 results: revenue $11.5 billion, down 0.1% on the year
Xcel Energy Inc. (XEL) reported revenue of $11.5 billion for fiscal 2019, the year ended 31 December 2019, down 0.1% on the year before. Net income was $1.4 billion, up 8.8%, and diluted earnings per share $2.64. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$11.5 billion
-0.1% on the year
FY2012FY2019
Operating margin
18.2%
17.0% a year earlier
FY2012FY2019
Net income
$1.4 billion
+8.8% on the year
FY2012FY2019
Diluted EPS
$2.64
+6.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
11,529
11,537
11,404
-0.1%
Cost of revenue
n/a
3,854
3,757
Gross profit
n/a
7,683
7,647
Gross margin
n/a
66.6%
67.1%
Operating income
2,104
1,965
2,223
+7.1%
Operating margin
18.2%
17.0%
19.5%
Interest expense
773
700
663
+10.4%
Pre-tax income
1,500
1,442
1,690
+4.0%
Income tax
128
181
542
-29.3%
Effective tax rate
8.5%
12.6%
32.1%
Net income
1,372
1,261
1,148
+8.8%
Net margin
11.9%
10.9%
10.1%
Diluted EPS
$2.64
$2.47
$2.25
+6.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
3,263
3,122
3,126
+4.5%
Capital expenditure
4,225
3,957
3,244
+6.8%
Free cash flow
-962
-835
-118
Free cash flow margin
-8.3%
-7.2%
-1.0%
Cash from investing
-4,343
-3,986
-3,296
Cash from financing
1,181
928
168
+27.3%
Depreciation and amortisation
1,785
1,659
1,495
+7.6%
Share-based compensation
58.0
45.0
57.0
+28.9%
Buybacks
n/a
1.0
3.0
Dividends paid
791
730
721
+8.4%
Dividend per share
$1.62
$1.52
$1.44
+6.6%
Diluted shares, weighted
520m
511m
509m
+1.8%
Shares outstanding at period end
525m
514m
508m
+2.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
13,239
12,222
11,455
+8.3%
Debt
18,704
17,247
15,791
+8.4%
Operating lease liabilities
1,549
0.0
n/a
Finance lease liabilities
77.0
n/a
n/a
Other liabilities
16,879
16,518
15,784
+2.2%
Total liabilities and equity
50,448
45,987
43,030
+9.7%
Fixed assets
39,483
36,944
34,329
+6.9%
Cash and equivalents
248
147
83.0
+68.7%
Receivables
837
860
797
-2.7%
Inventory
544
548
610
-0.7%
Other assets
9,336
7,488
7,211
+24.7%
Total assets
50,448
45,987
43,030
+9.7%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.