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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $6.52B | $5.28B | $5.35B | $5.74B | $4.73B | $4.47B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - |
| Total Operating Expenses | $4.81B | $4.00B | $4.21B | $4.58B | $3.89B | $4.13B |
| D&A | $1.17B | $1.04B | $908.20M | $820.80M | $748.40M | $725.90M |
| Operating Income | $1.84B | $1.46B | $1.30B | $1.27B | $1.01B | $550.80M |
| Interest Expense | $639.00M | $517.20M | $489.60M | $361.60M | $341.10M | $370.70M |
| Income Tax | $203.80M | $158.10M | $139.50M | $164.60M | $117.80M | ($17.10M) |
| Net Income | $929.50M | $760.40M | $714.30M | $804.10M | $584.90M | ($17.60M) |
| EPS - Basic | $1.96 | $1.63 | $1.59 | $1.84 | $1.35 | ($0.19) |
| EPS - Diluted | $1.95 | $1.62 | $1.48 | $1.70 | $1.27 | ($0.19) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $110.10M | $156.60M | $2.25B | $40.80M | $84.20M | $116.50M |
| Accounts Receivable | $1.20B | $964.20M | $862.00M | $1.04B | $825.60M | $791.30M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $1.12B | $863.10M | $749.40M | $899.50M | $697.80M | $589.00M |
| Current Assets | $2.38B | $2.08B | $4.50B | $2.58B | $1.92B | $1.66B |
| Total Assets | $35.86B | $31.79B | $31.08B | $26.74B | $24.16B | $22.04B |
| Current Liabilities | $3.46B | $4.11B | $5.27B | $4.66B | $2.75B | $2.28B |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $9.45B | $8.68B | $8.27B | $7.58B | $6.95B | $5.75B |
| Retained Earnings | ($315.20M) | ($711.70M) | ($967.00M) | ($1.21B) | ($1.58B) | ($1.77B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.36B | $1.78B | $1.94B | $1.41B | $1.22B | $1.10B |
| Investing Cash Flow | ($4.52B) | ($3.21B) | ($3.57B) | ($2.57B) | ($2.20B) | ($879.10M) |
| Financing Cash Flow | $2.10B | ($651.00M) | $3.84B | $1.14B | $956.30M | ($247.70M) |
| CapEx | $2.78B | $2.61B | $2.65B | $2.20B | $1.84B | $1.76B |
| Free Cash Flow | ($420.00M) | ($832.50M) | ($710.70M) | ($793.70M) | ($620.10M) | ($654.10M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 28.1% | 27.6% | 24.2% | 22.1% | 21.3% | 12.3% |
| EBITDA margin | 46.0% | 47.3% | 41.2% | 36.4% | 37.1% | 28.5% |
| Net margin | 14.3% | 14.4% | 13.4% | 14.0% | 12.4% | -0.4% |
| Free cash flow margin | -6.4% | -15.8% | -13.3% | -13.8% | -13.1% | -14.6% |
| FCF / Net income | -0.45 | -1.09 | -0.99 | -0.99 | -1.06 | 37.16 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - |
| Effective tax rate | 18.0% | 17.2% | 16.3% | 17.0% | 16.8% | - |
| Return on assets | 2.6% | 2.4% | 2.3% | 3.0% | 2.4% | -0.1% |
| Return on equity | 9.8% | 8.8% | 8.6% | 10.6% | 8.4% | -0.3% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 0.69 | 0.51 | 0.85 | 0.55 | 0.70 | 0.73 |
| Quick ratio | 0.69 | 0.51 | 0.85 | 0.55 | 0.70 | 0.73 |
| Cash ratio | 0.03 | 0.04 | 0.43 | 0.01 | 0.03 | 0.05 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | 2.9x | 2.8x | 2.6x | 3.5x | 3.0x | 1.5x |
| Equity multiplier | 3.79 | 3.66 | 3.76 | 3.53 | 3.48 | 3.83 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.18 | 0.17 | 0.17 | 0.21 | 0.20 | 0.20 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 67d | 67d | 59d | 66d | 64d | 65d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 21.4x | 22.7x | 17.9x | 16.1x | 21.7x | - |
| P / B | 2.1x | 1.9x | 1.4x | 1.6x | 1.7x | 1.5x |
| P / S | 3.0x | 3.2x | 2.2x | 2.1x | 2.4x | 2.0x |
| EV / EBITDA | 6.6x | 6.6x | 4.4x | 5.8x | 6.5x | 6.8x |
| Growth | ||||||
| Revenue growth (YoY) | 23.5% | -1.2% | -6.8% | 21.3% | 5.8% | -11.5% |
| Revenue CAGR (3y) | 4.4% | 3.7% | 6.1% | 4.3% | 2.5% | -2.8% |
| Revenue CAGR (5y) | 7.8% | 0.9% | 4.0% | 3.3% | 1.0% | -0.8% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 26.1% | 12.4% | 2.3% | 25.7% | 82.8% | -38.2% |
| Net income growth (YoY) | 22.2% | 6.5% | -11.2% | 37.5% | - | - |
| EPS growth (YoY) | 20.4% | 9.5% | -12.9% | 33.9% | - | - |
| EPS CAGR (3y) | 4.7% | 8.5% | - | 25.0% | - | - |
| EPS CAGR (5y) | - | 13.2% | - | 34.2% | 4.5% | - |
| FCF growth (YoY) | 49.5% | -17.1% | 10.5% | -28.0% | 5.2% | -198.5% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 8.8% | 5.0% | 9.2% | 9.0% | 20.8% | -3.9% |
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%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
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 |