NiSource Inc.

NiSource Inc.

NI
NiSource Inc.US flagNew York Stock Exchange
47.72
USD
+0.25
- -
22.88BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
14.81
16.73
14.64
13.96
14.8
14.35
13.91
12.18
12.45
14.37
13.23
12.01
14.05
14.39
Basic EPS, GAAP
1.7
1.68
0.9
1.03
0.39
-0.18
0.88
-0.19
1.35
1.84
1.61
1.66
1.97
2.03
Free Cash Flow per Basic Share
4.6
4.19
4.59
2.5
2.25
1.52
4.23
2.87
3.09
3.46
4.65
3.86
4.2
4.47
Dividend per Share
0.98
1.02
0.83
0.64
0.7
0.8
0.95
0.98
1.02
1.07
1.1
1.08
1.12
1.15
Book Value per Share
4.13
4.75
-3.53
-3.01
-3.25
-3.91
-3.65
-4.58
-4.01
-2.97
-2.31
-1.56
-0.66
-0.19
Tangible Book Value per Share
6.23
13.39
5.98
6.64
7.28
8.3
9.67
9.03
10.77
11.96
19.62
20.22
21.51
22.03
Basic Weighted Avg Shares
312
315
318
322
329
356
375
384
394
407
416
454
473
474
Sales/Revenue/Turnover
4,625
5,272
4,652
4,492
4,875
5,114
5,209
4,682
4,900
5,851
5,505
5,455
6,642
6,822
Operating Margin (%)
15.12
15.02
17.23
19.26
19.01
2.46
25.06
20.54
20.71
19.85
23.58
26.83
27.58
27.86
Depreciation Expense
470
487
524
547
570
600
717
726
748
821
908
1,043
1,168
1,197
Net Income, GAAP
532
530
286
332
128
-51
383
-18
585
804
714
760
930
962
Effective Tax Rate (%)
32.95
39.43
41.57
35.46
70.99
- -
24.38
- -
16.67
17.21
17.14
15.77
16.75
15
Profit Margin (%)
11.5
10.05
6.16
7.38
2.64
-0.99
7.35
-0.38
11.94
13.74
12.97
13.94
13.99
14.1
Working Capital
-1,019
-1,770
-1,080
-1,690
-1,415
-1,981
-1,892
-620
-825
-2,076
-766
-2,033
-1,080
-1,318
LT Debt
7,593
8,152
5,948
6,058
7,512
7,105
7,908
9,421
9,369
9,524
11,056
12,074
15,458
15,459
Total Equity
5,887
6,175
3,844
4,071
4,320
5,751
5,987
5,838
7,273
7,902
10,136
10,668
11,660
11,928
Return on Invested Capital (%)
3.25
3.07
3.43
4.83
2.09
- -
6.37
- -
5.05
5.2
4.91
5.01
5.77
5.88
Return on Capital (%)
8.08
7.01
5.71
8.87
3.17
- -
7.52
- -
8.92
10.1
8.51
7.26
8.38
8.45
Return on Common Equity (%)
45.26
38.05
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
1,291
756
1,308
LT Borrowings
14,472
15,458
15,459
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
477
478
479
Market Capitalization
20,402
19,676
22,118

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
1,848
2,377
2,409
Cash, Cash Equivalents & STI
95
110
72
Accounts Receivable, Net
701
1,198
1,235
Inventories
475
450
304
Total Current Liabilities
3,533
3,457
3,727
Payables & Accruals
1,492
1,856
1,863
ST Debt
1,291
756
1,308
Deferred Revenue
274
283
148

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
12.28%
15.21%
9.29%
Free Cash Flow
15.05%
13.47%
13.47%
Net Income, GAAP
-451.49%
-673.66%
22.24%
Sales/Revenue/Turnover
4.08%
7.8%
21.76%
Total Cash Common Dividend
7.85%
10.57%
9.93%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,706
1,085
1,076
1,588
5,455
2025
2,183
1,283
1,273
1,903
6,642
2026
2,363
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.8
0.19
0.19
- -
1.66
2025
1.01
0.22
0.2
- -
1.97
2026
1.06
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.28
0.27
0.26
- -
1.08
2025
0.28
0.28
0.28
- -
1.12
2026
0.31
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Lloyd Yates
Full Time Employees
7,687
Sector
Utilities
Industry
Regulated Gas
Address
801 East 86th Avenue Merrillville IN United States of America 46410
IPO Date
Dec 16, 1962
Business
NiSource Inc. (NYSE: NI) operates as a fully regulated energy holding company, providing natural gas distribution and electric utility services to approximately 3.3 million natural gas customers and 500,000 electric customers across six states through its principal subsidiaries Columbia Gas and Northern Indiana Public Service Company (NIPSCO). The company delivers natural gas to residential, commercial, and industrial customers via nearly 60,000 miles of pipeline infrastructure in Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland; NIPSCO generates, transmits, and distributes electricity in northern Indiana using a diverse portfolio including natural gas, hydroelectric, wind, solar, and coal-fired facilities with a total operating capacity exceeding 3,000 megawatts, alongside wholesale electric transactions. NiSource, founded in 1912 as Northern Indiana Public Service Company and headquartered in Merrillville, Indiana, employs about 7,700 people and focuses on reliability, affordability, and sustainability in its regulated utility segments. In recent developments, NiSource completed the sale of a 19.9% indirect minority equity interest in NIPSCO to Blackstone Infrastructure Partners in early 2024 for approximately $2.15 billion, bolstering its balance sheet to fund renewable energy transitions, including NIPSCO's shift to 0% coal-fired generation by 2028. The company announced a $1.5 billion at-the-market equity issuance program in October 2025, extending through 2028 and superseding a prior $900 million program, to support capital expenditures, working capital, and debt repayment amid expanding infrastructure needs. In Q3 2025, NiSource reported earnings growth and unveiled a $28 billion strategic capital plan through 2033, driven by nearly $7 billion in data center investments, regulatory approval for NIPSCO Generation LLC (GenCo) to develop dedicated power assets, and new partnerships with Quanta Services and Zachry for generation and grid enhancements to meet surging demand while protecting customer affordability.

Company News

MCPAPIChat
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