NI · Nisource Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.32B | - | $1.24B | $1.25B | $2.15B | - | $1.08B | $1.08B | $1.71B | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $1.54B | - | $975.60M | $1.02B | $1.42B | - | $858.00M | $847.70M | $1.12B | - |
| D&A | $288.30M | - | $306.90M | $286.70M | $258.60M | - | $269.50M | $253.50M | $242.10M | - |
| Operating Income | $819.20M | - | $297.50M | $262.90M | $759.40M | - | $218.30M | $237.00M | $583.40M | - |
| Interest Expense | $191.60M | - | $179.80M | $139.10M | $116.30M | - | $129.20M | $129.30M | $116.30M | - |
| Income Tax | $85.80M | - | $20.60M | $23.80M | $105.70M | - | $15.90M | $17.60M | $76.00M | - |
| Net Income | $507.10M | - | $94.70M | $102.20M | $474.80M | - | $85.70M | $85.80M | $365.00M | - |
| EPS - Basic | $1.06 | - | $0.20 | $0.22 | $1.01 | - | $0.19 | $0.19 | $0.77 | - |
| EPS - Diluted | $1.06 | - | $0.20 | $0.22 | $1.00 | - | $0.19 | $0.19 | $0.77 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $71.90M | $110.10M | $95.00M | $335.40M | $259.40M | $156.60M | $126.20M | $101.20M | $102.20M | $2.25B |
| Accounts Receivable | $1.24B | $1.20B | $701.00M | $778.60M | $1.11B | $964.20M | $572.00M | $624.00M | $845.60M | $862.00M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $999.30M | $1.12B | $712.00M | $683.90M | $726.30M | $863.10M | $614.60M | $584.00M | $612.50M | $749.40M |
| Current Assets | $2.41B | $2.38B | $1.85B | $2.00B | $2.18B | $2.08B | $1.62B | $1.94B | $2.06B | $4.50B |
| Total Assets | $36.60B | $35.86B | $34.40B | $34.03B | $33.11B | $31.79B | $30.83B | $29.90B | $29.34B | $31.08B |
| Current Liabilities | $3.73B | $3.46B | $3.53B | $3.41B | $4.24B | $4.11B | $3.49B | $2.51B | $3.13B | $5.27B |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $9.66B | $9.45B | $9.12B | $8.88B | $8.90B | $8.68B | $8.35B | $7.87B | $7.90B | $8.27B |
| Retained Earnings | ($96.60M) | ($315.20M) | ($572.00M) | ($532.10M) | ($501.40M) | ($711.70M) | ($934.90M) | ($896.20M) | ($861.70M) | ($967.00M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $442.30M | - | - | - | $686.40M | - | - | - | $456.20M | - |
| Investing Cash Flow | ($872.60M) | - | - | - | ($1.35B) | - | - | - | ($723.00M) | - |
| Financing Cash Flow | $391.70M | - | - | - | $771.40M | - | - | - | ($1.87B) | - |
| CapEx | $805.20M | - | - | - | $637.30M | - | - | - | $589.50M | - |
| Free Cash Flow | ($362.90M) | - | - | - | $49.10M | - | - | - | ($133.30M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 35.3% | - | 24.0% | 21.1% | 35.3% | - | 20.3% | 21.8% | 34.2% | - |
| EBITDA margin | 47.7% | - | 48.7% | 44.1% | 47.4% | - | 45.3% | 45.2% | 48.4% | - |
| Net margin | 21.8% | - | 7.6% | 8.2% | 22.1% | - | 8.0% | 7.9% | 21.4% | - |
| Free cash flow margin | -15.6% | - | - | - | 2.3% | - | - | - | -7.8% | - |
| FCF / Net income | -0.72 | - | - | - | 0.10 | - | - | - | -0.37 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 14.5% | - | 17.9% | 18.9% | 18.2% | - | 15.6% | 17.0% | 17.2% | - |
| Return on assets | 1.4% | - | 0.3% | 0.3% | 1.4% | - | 0.3% | 0.3% | 1.2% | - |
| Return on equity | 5.3% | - | 1.0% | 1.2% | 5.3% | - | 1.0% | 1.1% | 4.6% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.65 | 0.69 | 0.52 | 0.59 | 0.52 | 0.51 | 0.46 | 0.78 | 0.66 | 0.85 |
| Quick ratio | 0.65 | 0.69 | 0.52 | 0.59 | 0.52 | 0.51 | 0.46 | 0.78 | 0.66 | 0.85 |
| Cash ratio | 0.02 | 0.03 | 0.03 | 0.10 | 0.06 | 0.04 | 0.04 | 0.04 | 0.03 | 0.43 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 4.3x | - | 1.7x | 1.9x | 6.5x | - | 1.7x | 1.8x | 5.0x | - |
| Equity multiplier | 3.79 | 3.79 | 3.77 | 3.83 | 3.72 | 3.66 | 3.69 | 3.80 | 3.72 | 3.76 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.06 | - | 0.04 | 0.04 | 0.06 | - | 0.03 | 0.04 | 0.06 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 194d | - | 206d | 228d | 188d | - | 194d | 210d | 181d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 44.0x | - | 216.5x | 183.4x | 40.1x | - | 182.4x | 151.6x | 35.9x | - |
| P / B | 2.3x | - | 2.2x | 2.1x | 2.1x | - | 1.9x | 1.6x | 1.6x | - |
| P / S | 9.7x | - | 16.5x | 15.3x | 8.8x | - | 14.6x | 12.0x | 7.3x | - |
| EV / EBITDA | 20.2x | - | 33.8x | 34.0x | 18.4x | - | 32.0x | 26.2x | 14.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 8.0% | - | 15.2% | 14.9% | 26.0% | - | 4.8% | -0.5% | -13.2% | - |
| Revenue CAGR (3y) | 5.7% | - | 4.4% | 1.8% | 4.7% | - | 3.9% | 3.2% | 3.4% | - |
| Revenue CAGR (5y) | 8.5% | - | 6.6% | 5.3% | 6.0% | - | 2.9% | 1.4% | -1.8% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 7.9% | - | 36.3% | 10.9% | 30.2% | - | -6.3% | 40.3% | 9.9% | - |
| Net income growth (YoY) | 6.8% | - | 10.5% | 19.1% | 30.1% | - | 0.7% | 45.9% | 9.6% | - |
| EPS growth (YoY) | 6.0% | - | 5.3% | 15.8% | 29.9% | - | 11.8% | 111.1% | 8.5% | - |
| EPS CAGR (3y) | 14.3% | - | 18.6% | 22.4% | 2.1% | - | 16.6% | 20.0% | 2.3% | - |
| EPS CAGR (5y) | 8.0% | - | - | - | 44.3% | - | - | -24.0% | 7.0% | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 8.6% | 8.8% | 9.3% | 12.9% | 12.7% | 5.0% | 15.7% | 8.8% | 2.9% | 9.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.99B totalColumbia Operations$2.28B · 76.3%
NIPSCOOperations$708.00M · 23.7%
Peer comparison
Same SIC group: Electric & Other Services Combined
Comparing NISOURCE INC. against the 5 most active filers in the same SIC group.
Dividends
$1.16/share trailing 12 months · +6.4% YoY
| Ex-date | Per share |
|---|---|
| Apr 30, 2026 | $0.3000 |
| Feb 3, 2026 | $0.3000 |
| Oct 31, 2025 | $0.2800 |
| Jul 31, 2025 | $0.2800 |
| Apr 30, 2025 | $0.2800 |
| Feb 3, 2025 | $0.2800 |
| Oct 31, 2024 | $0.2650 |
| Jul 31, 2024 | $0.2650 |
| Apr 29, 2024 | $0.2650 |
| Feb 2, 2024 | $0.2650 |
| Oct 30, 2023 | $0.2500 |
| Jul 28, 2023 | $0.2500 |
| Apr 27, 2023 | $0.2500 |
| Feb 6, 2023 | $0.2500 |
| Oct 28, 2022 | $0.2350 |
| Jul 28, 2022 | $0.2350 |
| Apr 28, 2022 | $0.2350 |
| Feb 7, 2022 | $0.2350 |
| Oct 28, 2021 | $0.2200 |
| Jul 29, 2021 | $0.2200 |
| Apr 29, 2021 | $0.2200 |
| Feb 8, 2021 | $0.2200 |
| Oct 29, 2020 | $0.2100 |
| Jul 30, 2020 | $0.2100 |