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Consolidated Edison vs Xcel Energy: revenue, profit, margins and growth compared

Consolidated Edison brought in $17B of revenue in fiscal 2025, Xcel Energy $14.7B in fiscal 2025. Revenue changed by +10.2% at Consolidated Edison and +9.1% at Xcel Energy on the year before, so Consolidated Edison grew faster. Consolidated Edison kept 11.9% of its revenue as net profit, Xcel Energy 13.8%.

Side by side, latest fiscal year

EDXEL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$17B$14.7B
Revenue growth+10.2%+9.1%
Net income$2B$2B
Net margin11.9%13.8%
Free cash flown/a-$6.8B
Free cash flow marginn/a-46.5%
Earnings per share (diluted)$5.64$3.42
Cash$1.6B$274M
Debt$25.8B$32.3B
Price to earnings18.320.4
Market value$38.1B$43.6B
Dividend yieldn/a3.27%
Rank by revenue in sector#15 of 109 · Utilities#22 of 109 · Utilities

Over the years

Revenue
ED FY2018: $12.3BED FY2019: $12.6BED FY2020: $12.2BED FY2021: $13.7BED FY2022: $15.7BED FY2023: $14.7BED FY2024: $15.5BED FY2025: $17BXEL FY2018: $11.5BXEL FY2019: $11.5BXEL FY2020: $11.5BXEL FY2021: $13.4BXEL FY2022: $15.3BXEL FY2023: $14.2BXEL FY2024: $13.4BXEL FY2025: $14.7BFY18FY19FY20FY21FY22FY23FY24FY25
ED $17BXEL $14.7B
Net income
ED FY2018: $1.4BED FY2019: $1.3BED FY2020: $1.1BED FY2021: $1.3BED FY2022: $1.7BED FY2023: $2.5BED FY2024: $1.8BED FY2025: $2BXEL FY2018: $1.3BXEL FY2019: $1.4BXEL FY2020: $1.5BXEL FY2021: $1.6BXEL FY2022: $1.7BXEL FY2023: $1.8BXEL FY2024: $1.9BXEL FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
ED $2BXEL $2B
Net margin
ED FY2018: 11.2%ED FY2019: 10.7%ED FY2020: 9.0%ED FY2021: 9.8%ED FY2022: 10.6%ED FY2023: 17.2%ED FY2024: 11.8%ED FY2025: 11.9%XEL FY2018: 10.9%XEL FY2019: 11.9%XEL FY2020: 12.8%XEL FY2021: 11.9%XEL FY2022: 11.3%XEL FY2023: 12.5%XEL FY2024: 14.4%XEL FY2025: 13.8%FY18FY19FY20FY21FY22FY23FY24FY25
ED 11.9%XEL 13.8%
Revenue growth
ED FY2019: +1.9%ED FY2020: -2.6%ED FY2021: +11.7%ED FY2022: +14.6%ED FY2023: -6.4%ED FY2024: +5.5%ED FY2025: +10.2%XEL FY2019: -0.1%XEL FY2020: -0.0%XEL FY2021: +16.5%XEL FY2022: +14.0%XEL FY2023: -7.2%XEL FY2024: -5.4%XEL FY2025: +9.1%FY19FY20FY21FY22FY23FY24FY25
ED +10.2%XEL +9.1%
Free cash flow
ED FY2018: -$2.6BED FY2019: -$542MED FY2020: -$1.9BED FY2021: -$1.2BED FY2022: -$530MXEL FY2018: -$835MXEL FY2019: -$962MXEL FY2020: -$2.5BXEL FY2021: -$2.1BXEL FY2022: -$706MXEL FY2023: -$527MXEL FY2024: -$2.7BXEL FY2025: -$6.8BFY18FY19FY20FY21FY22FY23FY24FY25
ED -$530MXEL -$6.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about Consolidated Edison and Xcel Energy

Which is bigger by revenue, Consolidated Edison or Xcel Energy?

Consolidated Edison is bigger by revenue: $17B in fiscal 2025, against $14.7B for Xcel Energy in fiscal 2025.

Which keeps more of its revenue as profit, Consolidated Edison or Xcel Energy?

Consolidated Edison had a net margin of 11.9% in fiscal 2025; Xcel Energy had 13.8% in fiscal 2025.

Which grew revenue faster, Consolidated Edison or Xcel Energy?

In their latest fiscal years revenue changed by +10.2% at Consolidated Edison and +9.1% at Xcel Energy.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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