NiSource, Inc NI
- Market cap
- $18.8B
- P/E
- 21.0×
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NiSource, Inc (NI) EV/EBITDA
As of 25 September 2026, NiSource, Inc (NI) trades at a EV/EBITDA of 11.6×. Over the past ten years it has ranged from 9.8× (January 2016) to 27.3× (June 2019); the current reading is higher than 38% of that period. That is in line with the Utilities Regulated Gas industry median of 11.5× and in line with the Utilities sector median of 12.1×.
EV/EBITDA, daily
Annual
| 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
| Period | EV/EBITDA | Change |
|---|---|---|
| Jun 2026 | 12.8× | 1.48% |
| Mar 2026 | 12.6× | 5.76% |
| Dec 2025 | 11.9× | (5.22%) |
| Sep 2025 | 12.6× | 0.66% |
| 42 more quarters | Free account |
Against its own ten years
EV/EBITDA against peers
| Company | EV/EBITDA |
|---|---|
| UGI UGI Corporation compare | 8.2× |
| OGS ONE Gas, Inc. compare | 9.0× |
| SWX Southwest Gas Corporation compare | 10.9× |
| BKH Black Hills Corporation compare | 11.3× |
| SR Spire Inc. compare | 11.5× |
| NI NiSource, Inc | 11.6× |
| NJR NewJersey Resources Corporation compare | 11.6× |
| MDU MDU Resources Group, Inc. compare | 12.3× |
| ATO Atmos Energy Corporation compare | 14.0× |
| Utilities Regulated Gas industry median | 11.5× |
| Utilities sector median | 12.1× |
| Market median | 11.0× |
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)
More on NI
- Revenue
- Net income
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/Sales
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- The full statement