# XCEL ENERGY INC (XEL) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from XCEL ENERGY INC's 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/XEL/mda/fy2025/): filed 2026-02-25; accession 0000072903-26-000009 (https://www.sec.gov/Archives/edgar/data/72903/000007290326000009/xel-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/XEL/mda/fy2024/): filed 2025-02-27; accession 0000072903-25-000029 (https://www.sec.gov/Archives/edgar/data/72903/000007290325000029/xel-20241231.htm)
- [FY 2023 MD&A](/company/XEL/mda/fy2023/): filed 2024-02-21; accession 0000072903-24-000034 (https://www.sec.gov/Archives/edgar/data/72903/000007290324000034/xel-20231231.htm)
- [FY 2022 MD&A](/company/XEL/mda/fy2022/): filed 2023-02-23; accession 0000072903-23-000007 (https://www.sec.gov/Archives/edgar/data/72903/000007290323000007/xel-20221231.htm)
- [FY 2021 MD&A](/company/XEL/mda/fy2021/): filed 2022-02-23; accession 0000072903-22-000010 (https://www.sec.gov/Archives/edgar/data/72903/000007290322000010/xel-20211231.htm)

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