NiSource, Inc NI

39.42 0.30 0.77% as of 25 Sep
Market cap
$18.8B
P/E
21.0×
Indexes indicate stock being part of an index,
Growth Flags show if company had growth for consecutive years

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

Against its own ten years

Low 9.8× High 27.3×
Ten-year median 11.9×
Current reading's percentile 38

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)

The full definition of EV/EBITDA →

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