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NiSourceNI

Multi-Utilities · Merrillville, Indiana · In the S&P 500
Solid businessPricier than peers
$44.57+0.27%After hours: $44.54 (−0.07%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 5.0% over 1 year
NiSource over 1 yearDaily close, $, to 30 Oct 2026
$40Nov2026MarMayJulSep$44.57$40NovMarJul$44.57
Source: Nasdaq daily closes
Market value$21.38B
Price to earnings22.8x
Forward P/E20.8x
Dividend yield2.69%
Year to date+6.7%
One year+5.0%
Next earningsNot scheduled
SectorUtilities
52-week range (closes)
$39.00$49.08

Quality and valuation

How NiSource compares with other utilities stocks. A description, not a recommendation.

NiSource and 7 multi-utilities peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: pricier than most

An average business among utilities companies, priced above most of them.

NiSource trades at 20.8 times the next 12 months of expected earnings, against a median of 18.6x for the 33 utilities stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +12.3% vs +8.3%
  • More profitable (operating margin): 28.0% vs 23.0%
  • Turns less of its sales into cash: −23.0% vs −14.5%
NI trades at 20.8x forward earnings, above the sector medianForward p/e, Multi-Utilities peers
PCG7.8xSRE16.6xD17.5xED18.4xXEL18.7xAEE19.9xNEE20.8xNI20.8xSector median 18.6xPCG7.8xSRE16.6xD17.5xED18.4xXEL18.7xAEE19.9xNEE20.8xNI20.8xSector median 18.6x
Source: CNBC quotes; Mostly Markets
At 22.9x earnings, NI is pricier than its average since Oct 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
22x24xAverage 22.8x2025202622.9x22x24xAverage 22.8x2025202622.9x
Source: Nasdaq prices; SEC filings

Financials

From NiSource's SEC filings, through the quarter ending 30 Sep 2026. Hover or tap a bar for its value.

Revenue grew 4.7% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$1bn$2bnQ4 ’24Q2 ’25Q4 ’25$1.3bnQ3 ’26$0bn$1bn$2bnQ4 ’24Q2 ’25Q4 ’25$1.3bnQ3 ’26
Source: SEC filings
Growth sped up to +4.7% last quarterRevenue growth, year on year, %
0%10%20%30%Q4 ’24Q2 ’25Q4 ’254.7%Q3 ’260%20%Q4 ’24Q2 ’25Q4 ’254.7%Q3 ’26
Source: SEC filings
Operating margin was 26.2% last quarterOperating income as a share of revenue, %
0%10%20%30%Q4 ’24Q2 ’25Q4 ’2526.2%Q3 ’260%20%Q4 ’24Q2 ’25Q4 ’2526.2%Q3 ’26
Source: SEC filings
Free cash flow was −$1.6 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $m
−$600m−$400m−$200m$0mQ4 ’24Q2 ’25Q4 ’25−$653mQ3 ’26−$500m−$250m$0mQ4 ’24Q2 ’25Q4 ’25−$653mQ3 ’26
Source: SEC filings
Last 12 monthsNISector median
Revenue growth+12.3%+8.3%
Operating margin28.0%23.0%
Free cash flow margin−23.0%−14.5%
Price to earnings22.8x21.1x

Stories on NiSource

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Similar companies

Multi-Utilities, by market value.

CompanyPriceTodayYTDValue
NEENextEra Energy$83.71+1.91%+4.3%$176B
DDominion Energy$66.62+2.30%+13.7%$58.59B
SRESempra$86.06+0.20%−2.5%$56.27B
XELXcel Energy$79.82+0.99%+8.1%$49.86B
EDConsolidated Edison$116.64+1.00%+17.4%$43.14B
AEEAmeren$110.54+0.30%+10.7%$30.60B
PCGPG&E$13.18−0.38%−18.0%$29.03B
DTEDTE Energy$135.49+0.72%+5.0%$28.19B