NISOURCE INC. NI

Utilities SIC 4931 - Electric & Other Services Combined NAICS Utilities › Electric Power Generation, Transmission and Distribution derived NYSE

NiSource Inc. is an energy holding company under the Public Utility Holding Company Act of 2005 whose primary subsidiaries are fully regulated natural gas and electric utility companies, serving approximately 3.8 million customers in six states. NiSource is the successor to an Indiana corporation organized in 1987 under the name of NIPSCO Industries, Inc., which changed its name to NiSource Inc. on April 14, 1999.

NiSource's principal subsidiaries include NiSource Gas Distribution Group, Inc. (a holding company that owns Columbia of Kentucky, Columbia of Maryland, Columbia of Ohio, Columbia of Pennsylvania, and Columbia of Virginia), and NIPSCO Holdings I (a holding company that owns a controlling interest in NIPSCO, a gas and electric utility). NiSource derives substantially all of its revenues and earnings from the operating results of these rate-regulated businesses. In addition, NiSource will develop the generation resources it plans to use in serving data center customers through its subsidiary Generation Holdings I (a holding company that holds a controlling interest in GenCo).

Last close 43.28 2026-10-23
Market cap $20.76B 2026-06-30 share count
52-week range 38.42 - 49.21

Valuation FY2025 figures against the last close

P/S3.2x
P/E22.2x
P/FCF—
EV/EBITDA6.9x
Dividend yield2.6%
Diluted EPS1.95

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $6.52B$5.28B$5.35B$5.74B$4.73B$4.47B$5.05B$4.99B$4.73B$4.39B
Cost of revenue ——————$1.53B$1.76B$1.52B$1.39B
Gross profit ——————$5.21B$5.11B$4.87B$4.49B
Total operating expenses ——————$4.32B$4.99B$3.95B$3.63B
Operating income $1.84B$1.46B$1.30B$1.27B$1.01B$550.8M$890.7M$124.7M$921.2M$866.1M
Interest expense $639.0M$517.2M$489.6M$361.6M$341.1M$370.7M$378.9M$353.3M$353.2M$349.5M
Pre-tax income $1.13B$918.5M$853.8M$968.7M$702.7M-$500.0K$506.6M$129.4M$443.0M$513.6M
Income tax $203.8M$158.1M$139.5M$164.6M$117.8M$17.1M$123.5M$180.0M$314.5M$182.1M
Net income $929.5M$760.4M$714.3M$804.1M$584.9M-$17.6M$383.1M-$50.6M$128.5M$331.5M
EPS, basic 1.961.631.591.841.35-0.190.88-0.180.391.03
EPS, diluted 1.951.621.481.701.27-0.190.87-0.180.391.02
Shares, diluted (wtd. avg.) 474.5M456.0M447.9M442.7M417.3M384.3M376.0M356.5M330.8M323.5M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $110.1M$156.6M$2.25B$75.4M$94.9M$125.6M$148.4M$121.1M$38.4M$36.0M
Receivables $1.20B$964.2M$862.0M$1.04B$825.6M$791.3M$856.9M$1.06B$898.9M$847.0M
Total current assets $2.38B$2.08B$4.50B$2.58B$1.92B$1.66B$1.85B$2.06B$1.76B$1.76B
Property, plant and equipment $28.69B$25.45B$22.27B$19.84B$17.88B$16.62B$16.91B$15.54B$14.36B$13.07B
Goodwill $1.49B$1.49B$1.49B$1.49B$1.49B$1.49B$1.49B$1.69B$1.69B$1.69B
Other intangibles ————$0$0$0$220.7M$231.7M$242.7M
Total assets $35.86B$31.79B$31.08B$26.74B$24.16B$22.04B$22.66B$21.80B$19.96B$18.69B
Accounts payable $1.12B$863.1M$749.4M$899.5M$697.8M$589.0M$666.0M$883.8M$625.6M$539.4M
Short-term debt $19.7M$1.28B$23.8M$1.76B$560.0M$503.0M$1.77B$1.98B$1.21B$1.49B
Total current liabilities $3.46B$4.11B$5.27B$4.66B$2.75B$2.28B$3.75B$4.04B$3.18B$3.45B
Retained earnings -$315.2M-$711.7M-$967.0M-$1.21B-$1.58B-$1.77B-$1.37B-$1.40B-$1.07B-$972.2M
Total equity $9.45B$8.68B$10.14B$7.90B$7.27B$5.84B$5.99B$5.75B$4.32B$4.07B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.36B$1.78B$1.94B$1.41B$1.22B$1.10B$1.58B$540.1M$742.2M$803.3M
Depreciation and amortisation $1.17B$1.04B$908.2M$820.8M$748.4M$725.9M$717.4M$599.6M$570.3M$547.1M
Stock-based compensation $50.9M$43.6M$33.5M$24.9M$24.3M$17.4M$25.9M$28.6M$40.1M$46.5M
Capital expenditure $2.78B$2.61B$2.65B$2.20B$1.84B$1.76B$1.80B$1.82B$1.70B$1.48B
Investing cash flow -$4.52B-$3.21B-$3.57B-$2.57B-$2.20B-$879.1M-$1.92B-$1.93B-$1.81B-$1.60B
Financing cash flow $2.10B-$651.0M$3.84B$1.14B$956.3M-$247.7M$366.4M$1.47B$1.07B$790.5M
Dividends paid $530.4M$481.0M$413.5M$381.5M$345.2M$321.6M$298.5M$273.3M$229.1M$205.5M
Buybacks ——$233.2M$19.1M$236.7M$0$0$4.0M$7.2M$9.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001111711-26-000027.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B 8B Revenue, FY2016: 4.4B Gross profit, FY2016: 4.5B Net income, FY2016: 331.5M Revenue, FY2017: 4.7B Gross profit, FY2017: 4.9B Net income, FY2017: 128.5M Revenue, FY2018: 5B Gross profit, FY2018: 5.1B Net income, FY2018: -50.6M Revenue, FY2019: 5.1B Gross profit, FY2019: 5.2B Net income, FY2019: 383.1M Revenue, FY2020: 4.5B Net income, FY2020: -17.6M Revenue, FY2021: 4.7B Net income, FY2021: 584.9M Revenue, FY2022: 5.7B Net income, FY2022: 804.1M Revenue, FY2023: 5.3B Net income, FY2023: 714.3M Revenue, FY2024: 5.3B Net income, FY2024: 760.4M Revenue, FY2025: 6.5B Net income, FY2025: 929.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $4.39B $4.73B $4.99B $5.05B $4.47B $4.73B $5.74B $5.35B $5.28B $6.52B
Gross profit $4.49B $4.87B $5.11B $5.21B — — — — — —
Net income $331.5M $128.5M -$50.6M $383.1M -$17.6M $584.9M $804.1M $714.3M $760.4M $929.5M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event Item 8.01
  • Material agreement signed Item 1.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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