NiSource Inc. NI SPX

Utilities · Utilities - Regulated Gas · United States

https://www.nisource.com

NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service lines; and 310 miles of transmission main pipeline in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. It also generates, transmits, and distributes electricity to approximately 0.5 million customers in various counties in the northern part of Indiana, as well as engages in wholesale electric and transmission transactions. It owns and operates steam coal generating stations in Wheatfield and Michigan City; combined cycle gas turbine in West Terre Haute; natural gas generating units in Wheatfield; hydro generating plants in Carroll County and White County; wind generating units in White County; and solar generating units in Sullivan County, Gibson County, Jasper County, and White County. The company was formerly known as NIPSCO Industries, Inc. and changed its name to NiSource Inc. in April 1999. NiSource Inc. was founded in 1847 and is headquartered in Merrillville, Indiana.

Market & Price

Market Cap

$22.16B

Current Price

$46.22

High / Low (52W)

$48.28 / $37.98

Beta

0.57

Valuation

Stock P/E

23.00

Industry PE

19.80

Forward P/E

20.61

PEG Ratio

2.63

Book Value

$19.75

Price to Book

2.34

P/S

3.25

EV/EBITDA

13.80

Dividend Yield

2.60%

Profitability & Returns

ROCE

5.80%

ROE

9.11%

ROA

3.39%

Profit Margin

14.10%

Op Margin

34.76%

EPS (Latest Qtr)

$1.06

EPS (TTM)

$2.01

Balance Sheet & Liquidity

Debt/Equity

1.41

Quick Ratio

0.37

Current Ratio

0.65

Debt

$16.81B

Total Assets

$35.86B

Current Assets

$2.38B

Working Capital

$-1.08B

Ownership

Promoter Holding

0.35%

Chg in Prom Hold

FII / Inst Holding

98.62%

Chg in FII Hold

0.01%

Financial Snapshot

Enterprise Value

$41.16B

Total Revenue (TTM)

$6.82B

EBITDA

$2.98B

Free Cash Flow

$-1.56B

Operating Cash Flow

$2.12B

Shares Outstanding

479.44M

Gross Margin

50.70%

Payout Ratio

56.72%

Growth (CAGR)

Revenue 5Y

4.32%

Profit 5Y

4.95%

Revenue (YoY)

8.20%

Earnings (YoY)

6.00%

PROS

Attractive dividend yield of 2.60%.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Utilities).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	NI NiSource Inc. SPX	46.22	23.00	$22.16B	2.60%	5.80%	9.11%	4.32%	4.95%
2	NEE NextEra Energy, Inc. SPX	87.01	22.08	$181.47B	2.86%	4.79%	10.32%	9.36%	18.12%
3	SO The Southern Company SPX	92.05	23.54	$103.77B	3.30%	5.93%	10.99%	0.31%	7.09%
4	DUK Duke Energy Corporation SPX	122.73	18.88	$95.68B	3.47%	5.35%	9.66%	3.87%	24.90%
5	AEP American Electric Power Company, Inc. NDXSPX	126.67	18.74	$68.92B	3.00%	5.68%	12.58%	3.66%	15.77%
6	D Dominion Energy, Inc. SPX	66.94	19.75	$58.87B	3.99%	5.34%	9.79%	5.80%	36.03%
7	SRE Sempra SPX	89.13	30.32	$58.26B	2.95%	3.04%	5.69%	-1.73%	-4.95%
8	VST Vistra Corp. SPXAI	160.23	26.79	$54.03B	0.57%	7.08%	42.90%	8.92%	58.98%
9	ETR Entergy Corporation SPX	109.05	27.89	$49.93B	2.35%	5.63%	10.75%	-2.02%	17.36%

Quarterly Results

Figures in USD.

Metric	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	883.40M	-	1.72B	982.10M	855.80M	-	1.83B	969.20M	891.00M	-	1.53B	932.70M	861.50M	-	1.51B	952.40M	918.80M	1.84B	1.16B	1.06B	1.90B	1.07B	1.00B	1.64B	1.05B	-	-	2.18B	1.28B	1.27B	1.90B	2.36B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.08B	658.00M	594.70M	966.60M	1.16B
Gross Profit	608.10M	-	940.10M	662.70M	643.10M	-	1.60B	990.70M	917.00M	1.37B	1.75B	1.01B	895.00M	1.46B	1.87B	1.01B	931.50M	1.40B	1.61B	962.70M	902.50M	1.21B	-	-	-	-	-	-	-	-	-	-	-	-	-	1.11B	625.00M	678.40M	936.30M	1.20B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	348.20M	360.90M	376.20M	421.20M	385.50M
Operating Income	109.70M	219.50M	381.40M	138.20M	113.70M	224.90M	415.40M	124.00M	111.20M	270.60M	400.60M	118.40M	-315.90M	-78.40M	374.20M	463.50M	91.00M	-38.00M	148.20M	91.70M	92.80M	218.10M	433.20M	142.20M	147.10M	600.30M	143.30M	156.70M	531.00M	168.90M	233.00M	583.40M	237.00M	-	-	759.70M	264.10M	302.20M	515.10M	819.20M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.02B	550.10M	614.30M	857.70M	1.12B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	132.80M	139.10M	179.80M	210.20M	191.60M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	632.40M	124.30M	127.60M	332.10M	642.00M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	105.70M	23.80M	20.60M	53.70M	85.80M
Net Income	-4.90M	59.40M	186.60M	28.90M	27.20M	88.80M	211.30M	-44.40M	14.00M	-52.40M	276.10M	-	-	-	218.90M	296.90M	6.60M	-139.30M	75.60M	-4.70M	-172.90M	84.40M	295.50M	60.30M	63.20M	426.80M	67.00M	65.80M	333.00M	58.80M	85.10M	365.00M	85.80M	-	-	474.80M	102.20M	94.70M	257.80M	507.10M
Diluted EPS	-0.02	0.19	0.58	0.09	0.08	0.27	0.65	-0.14	0.04	-0.16	0.81	0.07	-0.95	-0.05	0.55	0.75	-0.02	-0.41	0.16	-0.05	-0.49	0.18	0.72	0.11	0.12	0.94	0.12	0.12	0.71	0.09	0.17	0.77	0.19	0.19	-	1.00	0.22	0.20	-	1.06

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	4.39B	4.73B	4.99B	5.05B	4.47B	-	5.85B	5.51B	5.46B	6.64B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.60B	3.03B	2.65B	3.29B
Gross Profit	3.25B	3.33B	3.41B	3.45B	3.51B	2.66B	2.90B	4.65B	4.49B	4.87B	5.11B	5.21B	-	-	2.25B	2.48B	2.81B	3.35B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.09B	1.18B	1.34B	1.52B
Operating Income	919.00M	800.00M	891.80M	914.40M	1.04B	698.10M	789.10M	799.90M	866.10M	921.20M	124.70M	890.70M	550.80M	-	1.16B	1.30B	1.46B	1.83B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.15B	2.22B	2.57B	3.05B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	372.20M	501.20M	523.10M	661.90M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	956.40M	813.90M	1.00B	1.22B
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	164.60M	139.50M	158.10M	203.80M
Net Income	79.00M	217.00M	282.60M	299.10M	416.10M	532.10M	530.00M	286.50M	331.50M	128.50M	-50.60M	383.10M	-17.60M	-	804.10M	714.30M	760.40M	929.50M
Diluted EPS	0.29	0.78	1.01	1.03	1.39	1.70	1.67	0.90	1.02	0.39	-0.18	0.87	-0.19	-	1.70	1.48	1.62	1.95

Compounded Sales Growth

5 Years:	4.32%
1 Year:	8.20%

Compounded Profit Growth

5 Years:	4.95%
1 Year:	6.00%

Stock Price Performance

1 Year:	+20.02%
6 Months:	+8.55%
3 Months:	-1.67%
1 Month:	-3.47%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Sep 2013	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	19.26B	19.91B	20.71B	21.84B	-	22.65B	24.59B	17.49B	18.69B	19.96B	21.80B	22.66B	22.04B	-	26.74B	31.08B	31.79B	35.86B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.58B	4.50B	2.08B	2.38B
Cash & Equivalents	34.60M	20.60M	16.40M	9.20M	11.50M	35.60M	36.30M	26.50M	24.90M	15.50M	26.40M	29.00M	112.80M	139.30M	116.50M	-	40.80M	2.25B	156.60M	110.10M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	751.90M	503.20M	389.10M	449.50M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.04B	862.00M	964.20M	1.20B
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18.83B	20.94B	21.12B	24.20B
Current Liabilities	-	-	3.15B	3.67B	3.65B	3.32B	-	3.18B	3.96B	2.66B	3.45B	3.18B	4.04B	3.75B	2.28B	-	4.66B	5.27B	4.11B	3.46B
Long Term Debt	-	-	-	-	6.63B	7.37B	-	8.19B	8.47B	6.43B	-	-	-	-	-	-	9.52B	11.06B	12.07B	15.46B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11.32B	14.13B	13.96B	16.21B
Total Equity	5.08B	4.71B	4.84B	4.90B	5.00B	5.55B	-	5.89B	6.18B	3.84B	4.07B	4.32B	5.75B	5.99B	5.75B	-	7.58B	8.27B	8.68B	9.45B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	416.11M	451.34M	469.82M	482.40M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	585.30M	1.67B	725.40M	870.20M	1.28B	1.44B	1.32B	1.46B	803.30M	742.20M	540.10M	1.58B	1.10B	-	1.41B	1.94B	1.78B	2.36B
Investing Cash Flow	-1.11B	-654.80M	-943.30M	-1.15B	-1.43B	-1.89B	-2.12B	1.95B	-1.60B	-1.81B	-1.93B	-1.92B	-879.10M	-	-2.57B	-3.57B	-3.21B	-4.52B
Financing Cash Flow	516.10M	-1.02B	210.70M	281.40M	174.50M	445.10M	795.60M	-3.41B	790.50M	1.07B	1.47B	366.40M	-247.70M	-	1.14B	3.84B	-651.00M	2.10B
Capital Expenditure	-1.30B	-777.20M	-801.30M	-1.12B	-1.50B	-1.21B	-1.28B	-1.36B	-1.48B	-1.70B	-1.82B	-1.80B	-1.76B	-	-2.20B	-2.65B	-2.64B	-3.16B
Free Cash Flow	-714.60M	889.00M	-75.90M	-252.50M	-223.30M	231.70M	37.10M	96.10M	-671.90M	-953.60M	-1.28B	-219.10M	-654.10M	-	-793.70M	-710.70M	-861.50M	-793.80M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-19.50M	2.21B	-2.08B	-62.90M
Share Buybacks	-	2.60M	1.50M	3.10M	10.00M	8.10M	10.20M	20.40M	9.40M	7.20M	4.00M	0	0	-	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	102.3%	103.1%	102.5%	103.1%	-	-	38.5%	45.0%	51.5%	50.4%
Operating Margin %	-	-	-	-	-	-	-	-	19.7%	19.5%	2.5%	17.6%	12.3%	-	19.9%	23.6%	26.8%	27.6%
Net Margin %	-	-	-	-	-	-	-	-	7.5%	2.7%	-1.0%	7.6%	-0.4%	-	13.7%	13.0%	13.9%	14.0%
ROE %	1.7%	4.5%	5.8%	6.0%	7.5%	9.0%	8.6%	7.5%	8.1%	3.0%	-0.9%	6.4%	-0.3%	-	10.6%	8.6%	8.8%	9.8%
ROCE %	-	5.0%	5.5%	5.4%	5.6%	3.6%	3.8%	5.4%	5.7%	5.5%	0.7%	4.7%	2.8%	-	5.3%	5.0%	5.3%	5.7%

Shareholding Pattern

Insiders

0.35%

Institutions

98.62%

Public Float

98.96%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	10.74%	51.47M	$2.38B
2	T. Rowe Price Investment Management, Inc.	10.39%	49.82M	$2.30B
3	Vanguard Capital Management LLC	6.50%	31.14M	$1.44B
4	State Street Corporation	5.65%	27.10M	$1.25B
5	Vanguard Portfolio Management LLC	5.63%	26.98M	$1.25B
6	Geode Capital Management, LLC	2.63%	12.61M	$582.98M
7	Deutsche Bank AG	2.44%	11.72M	$541.61M
8	Jennison Associates LLC	1.92%	9.22M	$426.22M
9	FMR, LLC	1.92%	9.22M	$426.34M
10	JPMORGAN CHASE & CO	1.79%	8.56M	$395.81M

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NI · Utilities

NiSource Inc.

About

Key Facts

Sector	Utilities
Industry	Utilities - Regulated Gas
Headquarters	United States
Employees	7,668
Website	https://www.nisource.com

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NiSource Inc. NI SPX

Market & Price

Valuation

Profitability & Returns

Balance Sheet & Liquidity

Ownership

Financial Snapshot

Growth (CAGR)

PROS

CONS

Price Chart

Technical Trend

Fundamental Growth

Peer comparison

Quarterly Results

Profit & Loss (Annual)

Compounded Sales Growth

Compounded Profit Growth

Stock Price Performance

Balance Sheet (Annual)

Cash Flows (Annual)

Ratios (Annual)

Shareholding Pattern

Top Institutional Holders

Analyst View

Latest News

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