NiSource Inc: stock overview

NINYSEUtilities · Electric & Other Services Combined

Price

$46.05

November 13, 2026Market cap $22.0B

DCF calculator

What Ploutos Investor adds for NiSource

Part of Ploutos Investor, €9.99 a month

See the plans
  • The full history: 17 fiscal years, from 2009
  • The estimated fair value, with its range and its certainty
  • The full analysis, 18 a month
  • More questions to the chat on its filings
  • Excel with every year
  • An email when it reports, changes its dividend or an officer buys

Sign in with a free account to see the last 5 fiscal years.

In short

NiSource had revenue of $6.8B over the last 12 months and net income of $940M, a net margin of 13.8%. Revenue grew by 7.8% a year on average over the last 5 years. At $46.05 the shares trade at a P/E of 23.5, against a median of 21.4 over the last 5 fiscal years. It has net debt of $18.2B. It pays a dividend yielding 2.61%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$22.0B
479M shares
P/E
23.5
Today23.5
Median21.4
Revenue, 12 months
$6.8B
+7.8% a year over 5 years
Net margin
13.8%
2025: 14.2%, above 62% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+10.4% a year over 2 years

  • 202510-K
    Revenue$6.5B
  • 202410-K
    Revenue$5.3B
  • 202310-K
    Revenue$5.3B

Fiscal years in figures

NI's revenue, profit, cash flow and dividend with each year-end price, from 2009 to 2022, 14 more fiscal years

Part of Ploutos Investor, €9.99 a month

See the plans

Sign in with a free account to see the last 5 fiscal years.

Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $17.3B
$22.0B
Enterprise value 
$40.2B
P/E 3-year median: 21.4
23.5
EV / EBIT 
21.2
EV / Revenue 
5.9
P/B 3-year median: 2.0
2.3
FCF yield 3-year median: -4.8%
–
Earnings yield 3-year median: 4.7%
4.3%

Profitability

Gross margin 
77.2%
Operating margin 
28.0%
Net margin 3-year median: 14.3%
13.8%
ROIC 
5.8%
ROIC, 5-year average 
5.4%
ROE 
9.9%

Growth

Revenue, yearly change 
+23.5%
EPS, yearly change 
+20.4%
FCF, yearly change 
–
Revenue, average a year 
+7.8%

The yearly change compares FY2025 with FY2024.

Balance sheet

Cash 
$58M
Total debt 
$18.3B
Net debt 
$18.2B
Net debt / EBITDA 
5.9x
Interest cover 
2.4x
Current ratio 
0.50

Balance sheet of September 30, 2026.

Returns to shareholders

Dividend yield 3-year median: 2.9%
2.61%
Buybacks 
–
Total returned 
2.61%
Shares, yearly change 
+1.8%
Valuation against its own pastEach fiscal year's P/E, P/FCF and P/B beside today's, and the DCF calculator for the company.Valuation

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 49).

Operating margin

28.1%

Above 81% of the 117 companies in its industry, and 91% of all.

Net margin

14.2%

Above 62% of the 122 companies in its industry, and 74% of all.

ROE

9.8%

Above 62% of the 103 companies in its industry, and 60% of all.

ROA

2.6%

Above 47% of the 122 companies in its industry, and 59% of all.

Revenue growth

23.5%

Above 91% of the 122 companies in its industry, and 84% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
NISOURCE INC.
CIK
1111711
Exchange
NYSE
Industry (SIC)
4931 · Electric & Other Services Combined
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
479M

Other companies: Utilities

The largest companies of the same sector, each with its own page.

The Utilities sectorAll companies

The full analysis

What do NiSource's filings show?

These are NiSource's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about NI

Didn't find what you were looking for?

Ask us
What is NI's market cap?

NiSource Inc's market cap is $22.0B, at a price of $46.05 on November 13, 2026 and 479M shares.

What is NI's P/E?

NI's P/E is 23.5, on earnings per share of $1.95 over the last 12 months. The median over the last 5 fiscal years was 21.4.

How much revenue does NI have?

NiSource had revenue of $6.8B over the last 12 months. Over the last 5 years it changed by +7.8% a year on average.

Does NI pay a dividend?

Yes. NiSource paid $1.20 per share over the last 12 months, a yield of 2.61% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From NiSource Inc's SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.