Friday 6 November 2026 Export NI’s income statement to Excel — free account

NiSource, Inc

NI Utilities Utilities Regulated Gas

NiSource, Inc’s revenue for fiscal 2025 (year ended December 2025) was $6.6 billion, up 21.8% from fiscal 2024.

Revenue: +5.99%
EPS: +35.0%
Free cash flow: −278.4%
Total debt: +15.9%

Quarter to September 2026, against a year earlier

44.49 0.80 −1.77%

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Market cap: $21.3B
P/E: 22.8×
Fwd P/E: 21.9×
Dividend yield: 2.70%
F-score: 6/9
Altman Z: 0.80
Beneish M: −2.41
Dividend safety: 36/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	21.97	65.03	0.00	31.64	0.00	20.45	14.91	16.99	22.69	21.31
Piotroski F-Score Full definition →	6	5	3	5	4	6	6	5	5	6
P/S ratio Full definition →	1.59	1.71	1.77	2.00	1.88	2.22	1.91	2.04	3.06	2.97
Altman Z-Score Full definition →	0.50	0.56	0.39	0.55	0.48	0.59	0.57	0.56	0.69	0.80
Altman Z″-Score (non-manufacturers) Full definition →	(0.16)	(0.04)	(0.39)	(0.10)	0.10	0.29	0.10	0.53	0.35	0.62
P/FCF ratio Full definition →	0.00	0.00	0.00	0.00	19.09	0.00	0.00	0.00	0.00	0.00
Beneish M-Score Full definition →	(2.42)	(2.57)	(2.43)	(2.94)	(2.89)	(2.40)	(2.34)	(2.99)	(2.59)	(2.41)
P/Operating CF Full definition →	26.32	39.29	(23.35)	29.67	35.92	39.01	29.93	28.15	30.93	27.71
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	36
P/B ratio Full definition →	1.75	1.93	1.86	2.04	1.78	1.90	1.76	1.16	1.57	1.69
Price to Tangible BV Full definition →	3.34	3.48	3.05	2.88	2.54	2.56	2.29	1.38	1.82	1.94
EV/Sales Full definition →	3.34	3.55	3.53	3.82	3.94	4.20	3.83	4.19	5.58	5.39
EV/EBITDA Full definition →	10.57	11.55	24.66	12.39	14.44	11.72	10.74	10.48	12.19	11.93
EV/Operating CF Full definition →	18.69	23.33	33.42	12.58	16.70	16.89	15.90	11.93	17.10	15.17
EV/FCF Full definition →	(22.35)	(18.16)	(14.14)	(91.10)	39.92	(33.18)	(28.24)	(32.48)	(36.59)	(85.30)
Quick Ratio Full definition →	0.26	0.31	0.31	0.28	0.42	0.37	0.27	0.61	0.29	0.40
Current Ratio Full definition →	0.51	0.55	0.51	0.49	0.73	0.70	0.55	0.85	0.51	0.69
Net Debt/EBITDA Full definition →	5.54	5.98	12.31	5.90	7.54	5.53	5.39	5.38	5.51	5.35
Debt/Assets Full definition →	42.31%	45.10%	41.88%	42.55%	44.22%	40.57%	42.32%	45.46%	43.92%	45.21%
Debt/Equity Full definition →	1.94	2.08	1.59	1.61	1.67	1.35	1.43	1.39	1.31	1.39
Asset Turnover Full definition →	0.25	0.25	0.24	0.23	0.21	0.21	0.23	0.19	0.17	0.20
Operating CF/Net income Full definition →	2.42	5.78	(8.23)	4.83	(15.19)	2.30	1.88	2.92	2.41	2.54
Capex/Depreciation Full definition →	(2.66)	(2.94)	(2.99)	(2.51)	(0.88)	(2.46)	(2.68)	(2.91)	(2.51)	(2.38)
Interest Coverage Full definition →	2.48	2.61	0.35	2.35	1.49	2.95	3.50	2.65	2.81	2.87
ROE Full definition →	8.38%	3.06%	(1.43%)	6.57%	(1.44%)	9.92%	12.40%	8.27%	7.28%	8.33%
ROA Full definition →	1.83%	0.66%	(0.31%)	1.48%	(0.33%)	2.29%	2.94%	2.29%	2.35%	2.75%
ROIC Full definition →	4.53%	4.33%	0.53%	3.60%	2.23%	3.71%	4.13%	3.68%	3.72%	4.14%
Return on Tangible Assets Full definition →	2.91%	0.99%	(0.48%)	2.18%	(0.45%)	3.11%	4.22%	3.08%	3.16%	3.37%
Average Days of Receivables Full definition →	69.25	70.74	81.85	63.44	64.35	68.92	72.99	61.53	67.57	69.43
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	37.62%	38.13%	51.38%	31.71%	40.27%	35.60%	30.04%	32.07%	33.28%	30.93%
Intangible Assets out of Total Assets Full definition →	0.10	0.10	0.09	0.07	0.07	0.06	0.06	0.05	0.05	0.04
Share Based Compensation of Revenue Full definition →	1.04%	0.82%	0.56%	0.50%	0.37%	0.50%	0.43%	0.61%	0.80%	0.77%
Graham Net Nets Full definition →	(1.80)	(1.66)	(1.55)	(1.42)	(1.65)	(1.38)	(1.45)	(1.46)	(1.14)	(1.10)
Graham Number Full definition →	16.96	10.73	0.00	16.43	0.00	21.02	25.42	28.80	29.26	32.97
Earnings Yield Full definition →	4.55%	1.54%	(0.61%)	3.16%	(0.87%)	4.89%	6.71%	5.89%	4.41%	4.69%
Free Cash Flow Yield Full definition →	(9.41%)	(11.42%)	(14.12%)	(2.10%)	5.24%	(5.71%)	(7.11%)	(6.32%)	(4.99%)	(2.13%)
Revenue per Share Full definition →	13.96	14.80	14.35	13.91	12.18	12.45	14.37	13.23	12.01	14.05
Operating CF per Share Full definition →	2.50	2.25	1.52	4.23	2.87	3.09	3.46	4.65	3.92	5.00
Capex per Share Full definition →	(4.58)	(5.15)	(5.10)	(4.81)	(1.67)	(4.67)	(5.41)	(6.36)	(5.76)	(5.88)
Free Cash Flow per Share Full definition →	(2.09)	(2.89)	(3.58)	(0.58)	1.20	(1.58)	(1.95)	(1.71)	(1.83)	(0.89)
Cash per Share Full definition →	0.11	0.12	0.34	0.40	0.33	0.24	0.19	5.48	0.44	0.29
Shareholders Equity per Share Full definition →	12.65	13.12	16.13	15.98	15.19	18.48	19.41	24.36	23.49	24.66
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	12.65	13.12	16.13	15.98	15.19	18.48	19.41	24.36	23.49	24.66
Free Cash Flow Full definition →	(671.90)	(953.60)	(1,276.30)	(218.70)	461.80	(620.10)	(793.70)	(710.70)	(832.50)	(420.00)
Working Capital Full definition →	(1,690.10)	(1,415.10)	(1,981.40)	(1,891.90)	(620.00)	(825.40)	(2,076.20)	(765.70)	(2,033.20)	(1,080.20)
Capital Expenditures Full definition →	(1,475.20)	(1,695.80)	(1,816.40)	(1,802.00)	(642.20)	(1,838.00)	(2,203.10)	(2,645.80)	(2,614.00)	(2,782.30)
Net Current Asset Value Full definition →	(12,858.60)	(13,878.30)	(13,997.70)	(14,819.20)	(14,543.30)	(14,963.20)	(16,250.50)	(16,441.50)	(19,039.60)	(21,821.60)
EV/EBIT Full definition →	17.34	18.80	144.74	22.37	33.47	20.43	17.70	17.82	20.93	19.52
Capex to Sales Full definition →	0.33	0.35	0.36	0.35	0.14	0.38	0.38	0.48	0.48	0.42
Price to Operating Income Full definition →	8.24	9.07	72.47	11.71	16.01	10.79	8.83	8.68	11.47	10.76
Other line items
Depreciation/Fixed assets Full definition →	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Cash ROIC Full definition →	(5.59%)	(7.14%)	(8.51%)	(1.39%)	2.94%	(3.61%)	(4.11%)	(2.68%)	(3.35%)	(1.50%)
Accounts Receivable Turnover Full definition →	5.86	5.43	4.89	5.08	5.41	5.60	5.58	5.25	5.63	5.84
Accounts Payable Turnover Full definition →	2.86	2.61	2.33	1.98	1.77	2.16	2.64	1.86	1.40	1.59
Inventory Turnover Full definition →	2.70	3.15	3.94	3.62	2.69	3.09	3.38	2.44	2.54	3.78
Average Days of Payables Full definition →	141.62	150.35	183.15	158.39	193.80	182.93	155.56	178.39	278.25	259.05
Days of Inventory on Hand Full definition →	129.81	113.22	87.56	101.00	131.98	130.74	130.04	119.79	125.44	103.55
Average Receivables Full definition →	766.70	898.55	1,045.80	1,026.15	865.40	875.30	1,047.60	1,049.00	968.95	1,136.70
Average Payables Full definition →	486.40	582.50	754.70	774.90	627.50	643.40	798.65	824.45	806.25	993.80
Average Inventory Full definition →	515.50	482.75	446.80	423.60	412.90	449.90	625.30	627.55	446.15	419.30
Average Assets Full definition →	18,092.20	19,326.80	20,882.85	22,231.90	22,350.15	23,098.70	25,446.75	28,906.90	31,432.65	33,823.40
Average Common Equity Full definition →	3,957.35	4,195.65	4,595.50	4,988.80	5,032.25	5,342.10	6,040.85	8,002.75	10,159.25	11,164.10

Show all line items

Columns are period end dates · fundamentals updated 5 Nov 2026

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