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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%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

NiSource, Inc (NI) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, NiSource, Inc (NI) trades at a EV/EBITDA of 12.3×. Over the past ten years it has ranged from 9.8× (January 2016) to 27.3× (June 2019); the current reading is higher than 62% of that period. That is in line with the Utilities Regulated Gas industry median of 12.2× and in line with the Utilities sector median of 12.3×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 11.9× (2.13%)
FY2024 12.2× 16.36%
FY2023 10.5× (2.46%)
FY2022 10.7× (8.37%)
FY2021 11.7× (18.83%)
FY2020 14.4× 16.56%
FY2019 12.4× (49.77%)
FY2018 24.7× 113.47%
FY2017 11.6× 9.33%
FY2016 10.6× 7.51%

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 11.5× (10.15%)
Jun 2026 12.8× 1.48%
Mar 2026 12.6× 5.76%
Dec 2025 11.9× (5.22%)
43 more quarters

Against its own ten years

Low 9.8× High 27.3×
Ten-year median 11.9×
Current reading's percentile 62

EV/EBITDA against peers

Company EV/EBITDA
UGI UGI Corporation compare 8.3×
OGS ONE Gas, Inc. compare 9.8×
SWX Southwest Gas Corporation compare 11.9×
NJR NewJersey Resources Corporation compare 12.2×
MDU MDU Resources Group, Inc. compare 12.2×
SR Spire Inc. compare 12.3×
BKH Bright Horizon Energy Corporation compare 12.3×
NI NiSource, Inc 12.3×
ATO Atmos Energy Corporation compare 15.2×
Utilities Regulated Gas industry median 12.2×
Utilities sector median 12.3×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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