On this page of Benford's Law Stocks.com we present our study of XCEL ENERGY INC — ticker symbol XEL. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 2/17/2021 to 10/30/2025 for XCEL ENERGY INC under CIK number 0000072903. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for XEL, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for XCEL ENERGY INC based on the past XEL filings our system processed in the past.
Benford Chart for XEL 10Q Filed 10/30/2025
30.4
14.2
13.1
6.9
10.1
8.9
5.3
6.6
4.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL? ✓  [ original filing, XEL stockholder letter ]
Total numbers found: 1,294
Recent share count: 591,426,177 (5's column)

■ = Typical range across full coverage universe
# of Numbers Found in Filing
Benford's Law Stocks Indicator
1294
High count compared to other filers, with XEL falling in the highest quartile of filers. At this number count, it would take about 13 numbers to move any given column by a full percentage point.
Benford's Law Stocks Score for XEL = 84
84

Starting from a possible score of 100, we made the following score deductions:
 • We deducted point upon observing the 2's percentage was below the company's typical historical range.
 • We deducted point upon observing the 4's percentage was below the typical coverage universe range.
 • We deducted point upon observing the 4's percentage was below the company's typical historical range.
 • The 5's percentage was higher than the 4's percentage, increasing the penalty multiplier.
 • However, because we observed that the company's shares outstanding count begins with the digit 5, we canceled the penalty multiplier.
 • We deducted point upon observing the 5's percentage was above the typical coverage universe range.
 • We deducted points upon observing the 6's percentage was above the typical coverage universe range.
 • The 8's percentage was higher than the 7's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 8's percentage was above the typical coverage universe range.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 8's percentage was above the company's typical historical range.
XEL's Score Vs. Typical Stock
Benford's Law Stocks Indicator
XEL
Normal-to-high score compared to other filers, falling within the top of the middle 50%.
Other Stocks Ranking Near XEL
TW
VRSK
GSAT
SVXY
 ULH
VRSN
ZNTL
REPX
Check our work! We provide our XCEL ENERGY INC Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the XEL filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 393 numbers that start with the digit 1. Here they are:
1,715
1,535
13
12
11,108
10,321
1,098
1,060
12
1,922
101
112
172
159
121
19
196
119
1,065
1,338
1,367
10
113
105
1,451
1,472
1.21
1.21
1,451
1,472
1
1
1
1
1,454
1,500
1,451
1,472
196
119
19
16
142
13
113
102
19
1,223
1,151
1,109
1
1,416
179
129
1,052
1,545
1,250
1,218
196
119
1,052
179
1,246
1,249
114
1,142
1,060
1,358
111
10,342
1
1,103
1,330
1,781
114
1,306
130
146
1,272
18,791
16,738
1,000,000,000
1,479
1,436
10,772
19,522
1,393
17,954
1
1
16,764,662
1,017
13
10
1,435
19,352
1,478
10,736
1
1
1
15
16
16
1,479
10,772
1,387
17,616
1,472
1,472
1.64
19,160,010
1,082
1,130
1,435
19,352
1,436
19,522
1,451
1,451
1.71
1,002
1,002
17,066,503
1,126
1,169
1,479
10,772
1,341
1,360
111
1,246
1,249
145
164
117
10,300
1,640
1,793
19,852
1,330
1,330
1,314
1.5
1.2
1,330
1,200
1,170
150
150
1,404
18.3
1.10
16.4
1.16
1,364
10.0
1,354
16
190
122
1.4
1,260
133
1,395
1,750
1,837
161
16
181
13
1,153
126
1,279
1,634
1,708
194
191
191
187
187
1
189
13
12
113
119
1,498
129
190
1,627
10,551
11
1,715
11,108
10
108
115
1,324
133
170
1,457
11
1,535
10,321
17.0
16.0
1.5
1.1
1.1
1.5
1.4
1.7
1.4
1,041
1,041
10
1,850
1,852
1,918
10
1,041
165
1,025
1,025
14
1,583
1
1,584
1,622
14
1,025
156
105
120
12
17
11
13
1
1
1
1
1
1
1
13
18
1
1
13
13
19
16
14
16
15
18
11
190
190
188
1
19
19
19
14
14
14
198
138
114
13
13
19
16
1
1
1
15
11
15
11
11
16
1
11
187
162
179
10
136
187
162
19
19
1
1
1
11
17
1
14
16
1
1
116
113
18
16
156
155
15
13
1
1
1
1
125
12
191
180
110
14
15
15
105
1.2
11
1
14
18
158
172
190
11
14
1,183
1,311
114
1,272
111
1
1
1
1
1
1
1
1
1,098
1,098
105
106
1,060
1,060
100
197
14
198
18
1,715
11,066
19
19
1,734
11,085
1,704
1,883
112
1,401
163
1,564
1,564
113
1,451
1,535
10,272
1
1
1,536
10,274
1,596
1,902
1,772
1,463
125
1,588
1,588
116
1,472
149
161
We found 184 numbers that start with the digit 2. Here they are:
264
239
2,863
2,053
299
295
2,200
2,042
287
287
2,733
2,003
2,039
21
2.48
2.63
2.47
2.63
22
2
28
2,216
2,055
26
27
202
282
202
238
23
2,636
288
217
216
2,907
2,849
2,328
280
227
27,316
2.50
21,181
20,961
230,256
21
21,181
28
28
27
21,181
20,957
2
2,000
250
2.5
21.1
2.7
203
2
2.90
2.60
2
2
215
205
205
200
200
22
248
264
2
2,825
226
206
239
22
2,813
21
21.0
21.0
21.0
21.0
27.0
26.2
2.2
2
2,208
239
2,130
246
271
287
21
28
27
26
29
29
2
2
22
22
27
20
23
2
236
20
216
24
29
20
29
20
23
23
24
2
2
2
21
25
24
25
22
25
22
2
243
239
2
260
209
237
29,744
28,419
25,115
2
2
21
22
2
287
254
212
210
205
22
28
2,211
200
298
27
26
29
29
22
22
2
2
24
28
26
29
264
272
28
228
259
20
29
239
211
29
227
2,020
2,189
2
2,863
2,863
260
2,032
28
We found 170 numbers that start with the digit 3. Here they are:
3,638
3,393
3,915
3,644
3,036
3
3,166
39
3
3
384
326
36
348
305
3
3
395
3
38
32
3,874
3,977
3,643
3,896
337
314
31
37
3,853
3,713
372
32,034
312
312
3
337
337
30
3
3
3
38
3,702
3,515
3,634
3,491
3,181
3,094
3,550
30
3,346
350
3.20
3,050
3,274
33
3,477
3,734
3,638
3,915
38
3,027
32
33
3,204
3,438
3,393
3,644
3,065
3
31
31
3,708
38
37
38
3
3.1
3
3,869
39
39
39
3,494
341
3
38
3
38
3
3
3
3
3
3
33
34
34
34
3
37
37
3
37
37
35
35
32
31
31
37
32
32
3
32,035
38
37
3
3
3
3
37
37
307
353
353
34
34
361
341
34
37
32
33
3
316
39
3,661
3,751
39
30
37
39
37
39
3
3
3
3
39
37
3,638
3,902
3,638
3,910
31
35
39
3,393
3,632
37
36
34
3,036
3,036
316
306
37
306
4's 5's 6's
We found 89 numbers that start with the digit 4. Here they are:
42
49
484
46
44
4
406
47
47
42
4
4,883
4,491
484
43
4,325
4,273
410
477
42
48
43
45
461
406
4,720
4,750
4.55
4.38
4.64
42
4.75
44
4,750
4.75
400
4
48
40
42
4
40
4
4,045
4,557
458
42
4,245
439
4,705
493
493
49
4.7
4.9
4.8
4
4
44
49
41
4
4
47
47
47
46
42
40
40
40
40
47
4
44
4,087
410
410
410
45
47
4
4
41
4
4
4
443
471
We found 131 numbers that start with the digit 5. Here they are:
591,539,773
5
514
51
532
524
592
564
584
559
595
565
587
559
524
525
59
5,147
5,197
550
5
511
53
536
561
5,681
57,198
56
524
531
535
5,927
5,319
591,432,101
574,365,598
557,337,051
55
574,101,713
591,201,845
524
524
57
5
591,432,101
554,941,703
574,101,713
574,365,598
591,432,101
59,976
56,791
57,198
508
5.47
500
5.60
5.35
5.85
5.15
5.05
500
5.65
500
5.30
5.65
580
50
5
55
521
5,100
556
556
541
541
557
501
501
540
5.2
5.7
5.9
592
564
584
559
595
565
587
559
541
522
50
56
51
5
5
56
56
5
55
58
58
52
52
5
57
57
5
5
500
50
57
56
5
516
569
50
53
582
55
592
553
553
524
540
591
55
51
547
582
57
We found 115 numbers that start with the digit 6. Here they are:
61
63
664
692
655
681
6
692
682
682
683
66
62
693
666
635
690
63
666
63,131
695
635
6,459
6,332
6,010
69
60
65
69
65
68
67
682
682
66
66
65
66
68
65
666
63,131
695
600
670
600
600
69
600
6.25
63
68
6
6
61
629
68
68
68
696
62
69
6
6
6
6
69
69
6
6
6
6
6
6
61
61
69
66
6
6
6
6
6
62
61
6
62
640
640
6
68
6
667
66
67
65
66
68
65
66
61
61
687
640
63
63
640
678
682
645
664
664
67
614
668
7's 8's 9's
We found 69 numbers that start with the digit 7. Here they are:
708
750
749
75
79
71
7,470
7,492
793
741
766
723
724
72
79,154
70,035
760
7,148
77
771
79,154
70,035
7,858
7
723
76,653
74
700
700
756
75
750
728
725
7,735
7
7,166
78
7.2
7.7
703
77
7
72
72
7
7
7
7
7
73
73
77
76
7
7
7
7
7
71
771
746
752
716
716
708
708
770
737
We found 85 numbers that start with the digit 8. Here they are:
8,737
8
8,282
86
885
8
88
88
87
85
81
85
854
851
871
873
832
832
877
871
8,512
852
867
8,995
8,553
8,589
8,039
8,406
8,813
8,995
8,465
8,406
8,553
8,995
8,017
83,635
800
800
800
800
8.2
82
8
8
8,893
88
885
8,528
8,197
8,737
8.2
8
8.4
898
866
832
846
833
85
8
8
8
89
8
8
8
8
83
8
83
8
83
88
8
885
8
8
87
882
88
8,737
8,738
86
85
85
We found 58 numbers that start with the digit 9. Here they are:
9,351
9,105
911
936
979
94
954
9,601
975
9,577
94
921
921
9,577
9,601
95
96
9,834
949
900
9
9
9
9
977
9,264
9,351
9,692
9
9
903
908
900
9
908
96
9
90
90
98
92
92
9
9
9
9
99
90
98
9
98
900
93
94
9,351
9,351
92
90
While the above XEL 10Q Filed 10/30/2025 is interesting in isolation, we have found that it is also useful to take a look at older XCEL ENERGY INC filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10Q Filed 10/30/2025 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical XEL 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

10Q Filed 10/30/2025
30.4
14.2
13.1
6.9
10.1
8.9
5.3
6.6
4.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 84
XBRL? ✓  [ original filing ]
Total numbers found: 1,294

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10K Filed 2/27/2025
27.8
18.3
13.6
9.1
9.6
7.7
5.9
3.9
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL? ✓  [ original filing ]
Total numbers found: 2,501

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 4/25/2024
26.3
16.0
9.9
9.1
13.8
5.7
7.6
5.8
5.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 72
XBRL? ✓  [ original filing ]
Total numbers found: 821

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 7/27/2023
30.7
17.7
11.1
7.9
10.4
6.5
7.3
4.7
3.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 91
XBRL? ✓  [ original filing ]
Total numbers found: 1,158

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 10/27/2022
33.7
14.9
9.9
8.9
10.3
8.9
5.5
4.4
3.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 94
XBRL? ✓  [ original filing ]
Total numbers found: 1,218

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10K Filed 2/23/2022
29.6
16.3
11.4
11.2
10.2
7.4
5.7
4.5
3.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 95
XBRL? ✓  [ original filing ]
Total numbers found: 2,602

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 4/29/2021
30.9
19.5
10.1
8.9
10.9
6.2
5.5
4.0
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL? ✓  [ original filing ]
Total numbers found: 852

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 7/31/2025
27.0
15.9
13.2
7.7
10.2
8.7
6.4
6.5
4.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 89
XBRL? ✓  [ original filing ]
Total numbers found: 1,279

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 10/31/2024
31.4
14.3
12.2
7.9
10.0
8.5
6.2
5.9
3.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 96
XBRL? ✓  [ original filing ]
Total numbers found: 1,187

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10K Filed 2/21/2024
29.3
17.6
13.5
9.1
9.6
7.4
6.0
3.6
3.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 98
XBRL? ✓  [ original filing ]
Total numbers found: 2,475

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 4/27/2023
31.4
17.8
10.2
9.3
9.6
6.0
6.5
4.1
5.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 89
XBRL? ✓  [ original filing ]
Total numbers found: 827

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 7/28/2022
32.3
17.1
10.5
9.2
10.3
8.9
5.2
2.9
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 93
XBRL? ✓  [ original filing ]
Total numbers found: 1,206

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 10/28/2021
30.0
16.8
10.0
8.4
12.3
8.8
5.6
4.2
4.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL? ✓  [ original filing ]
Total numbers found: 1,256

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10K Filed 2/17/2021
29.3
16.8
11.6
11.2
10.6
6.4
6.2
4.0
3.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 94
XBRL? ✓  [ original filing ]
Total numbers found: 2,627

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 4/24/2025
28.6
15.8
11.5
8.6
10.6
7.1
6.5
6.3
5.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 95
XBRL? ✓  [ original filing ]
Total numbers found: 893

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 8/1/2024
28.2
14.7
12.8
7.9
12.5
6.4
7.9
5.7
3.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 79
XBRL? ✓  [ original filing ]
Total numbers found: 1,183

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 10/27/2023
33.3
14.8
10.4
9.7
9.2
7.2
6.8
5.2
3.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 97
XBRL? ✓  [ original filing ]
Total numbers found: 1,168

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10K Filed 2/23/2023
29.9
16.5
12.9
10.0
9.0
8.0
5.7
3.9
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 99
XBRL? ✓  [ original filing ]
Total numbers found: 2,465

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 4/28/2022
35.5
16.8
11.3
7.1
9.6
8.5
4.2
4.0
3.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL? ✓  [ original filing ]
Total numbers found: 840

■ = Typical XEL range from 2/17/2021 to 10/30/2025
10Q Filed 7/29/2021
29.7
18.5
11.5
8.9
11.4
7.5
4.2
3.9
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 94
XBRL? ✓  [ original filing ]
Total numbers found: 1,219

■ = Typical XEL range from 2/17/2021 to 10/30/2025
HTCR 10Q Filed 11/18/2025:
97
CAPS 10Q Filed 11/18/2025:
72
WTMAU 10Q Filed 11/17/2025:
75
ADTX 10Q Filed 11/17/2025:
92
EPC 10K Filed 11/17/2025:
85
OCSL 10K Filed 11/17/2025:
87
ULBI 10Q Filed 11/17/2025:
95
ZYXI 10Q Filed 11/17/2025:
73
TBH 10Q Filed 11/17/2025:
87
LOB 10Q Filed 11/17/2025:
68
BTBD 10Q Filed 11/17/2025:
55
LFMD 10Q Filed 11/17/2025:
93
AIM 10Q Filed 11/17/2025:
71
GPUS 10Q Filed 11/17/2025:
99
ISPC 10Q Filed 11/17/2025:
90
ALUR 10Q Filed 11/17/2025:
95
ENFY 10Q Filed 11/17/2025:
87
HZO 10K Filed 11/17/2025:
92
GLAD 10K Filed 11/17/2025:
93
CHPGU 10Q Filed 11/17/2025:
59
XITO 10Q Filed 11/17/2025:
0
FGBI 10Q Filed 11/17/2025:
100
BRC 10Q Filed 11/17/2025:
63
IVF 10Q Filed 11/17/2025:
93
TWST 10K Filed 11/17/2025:
85
CNTM 10Q Filed 11/17/2025:
88
CURX 10Q Filed 11/14/2025:
43
EONR 10Q Filed 11/14/2025:
88
ESHA 10Q Filed 11/14/2025:
58
NMEX 10K Filed 11/14/2025:
60
WBSR 10Q Filed 11/14/2025:
1
EBFI 10Q Filed 11/14/2025:
61
ATAO 10Q Filed 11/14/2025:
66
CETH 10Q Filed 11/14/2025:
7
RBTK 10Q Filed 11/14/2025:
75
STCB 10Q Filed 11/14/2025:
100
BTCY 10Q Filed 11/14/2025:
89
ARKB 10Q Filed 11/14/2025:
43
SOHO 10Q Filed 11/14/2025:
92
RDI 10Q Filed 11/14/2025:
100
 

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