Overview Dividends

(NI) NiSource - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US65473P1057

Natural Gas, Electricity, Utility

NI EPS (Earnings per Share)

EPS (Earnings per Share) of NI over the last years for every Quarter: "2020-09": 0.09, "2020-12": 0.34, "2021-03": 0.77, "2021-06": 0.13, "2021-09": 0.11, "2021-12": 0.39, "2022-03": 0.75, "2022-06": 0.12, "2022-09": 0.1, "2022-12": 0.5, "2023-03": 0.77, "2023-06": 0.11, "2023-09": 0.19, "2023-12": 0.53, "2024-03": 0.85, "2024-06": 0.21, "2024-09": 0.2, "2024-12": 0.49, "2025-03": 0.98, "2025-06": 0.22, "2025-09": 0.19,
EPS Growth (3Y CAGR): -29.66%
EPS Trend (3Y Correlation): -10.8%

NI Revenue

Revenue of NI over the last years for every Quarter: 2020-09: 902.5, 2020-12: 1211, 2021-03: 1545.6, 2021-06: 986, 2021-09: 959.4, 2021-12: 1408.6, 2022-03: 1873.3, 2022-06: 1183.2, 2022-09: 1089.5, 2022-12: 1704.6, 2023-03: 1966, 2023-06: 1090, 2023-09: 1027.4, 2023-12: 1422, 2024-03: 1706.3, 2024-06: 1084.7, 2024-09: 1076.3, 2024-12: 1587.8, 2025-03: 2183.2, 2025-06: 1283, 2025-09: 1273.1,
Revenue Growth (3Y CAGR): -10.07%
Revenue Trend (3Y Correlation): -6.4%
Risk via 10d forecast
Volatility 18.3%
Value at Risk 5%th 31.0%
Relative Tail Risk 2.90%
Reward TTM
Sharpe Ratio 0.86
Alpha 14.59
Character TTM
Hurst Exponent 0.487
Beta 0.397
Beta Downside 0.616
Drawdowns 3y
Max DD 19.04%
Mean DD 3.66%
Median DD 3.12%

Description: NI NiSource October 16, 2025

NiSource Inc. (NYSE:NI) is a regulated utility holding company that serves roughly 2.4 million natural-gas customers and 0.5 million electric customers across Ohio, Pennsylvania, Virginia, Kentucky, Maryland, and northern Indiana. The business operates two segments-Columbia Operations and NIPSCO Operations-maintaining about 37,200 mi of gas distribution mains, 330 mi of transmission pipelines, and a diversified generation fleet that includes steam-coal, combined-cycle gas, hydro, wind, and solar assets.

Recent quarterly filings show a dividend yield near 5 % and a credit rating of A- (S&P), reflecting the sector’s stable cash flows but also exposure to declining coal utilization. Capital-expenditure guidance for 2025 targets roughly $1.2 bn, with a strategic emphasis on expanding renewable capacity (wind and solar) to meet state-level clean-energy mandates. A key macro driver is natural-gas price volatility, which can swing earnings by ±10 % given the company’s gas-heavy generation mix.

For a deeper quantitative view of NiSource’s valuation and risk profile, the ValueRay platform offers tools that can help you assess whether the stock aligns with your investment criteria.

NI Stock Overview

Market Cap in USD 20,609m
Sub-Industry Multi-Utilities
IPO / Inception 1984-10-19
Return 12m vs S&P 500 6.80%
Analyst Rating 4.47 of 5

NI Dividends

Dividend Yield 2.61%
Yield on Cost 5y 5.39%
Yield CAGR 5y 5.99%
Payout Consistency 92.8%
Payout Ratio 59.6%

NI Growth Ratios

CAGR 3y 21.90%
CAGR/Max DD Calmar Ratio 1.15
CAGR/Mean DD Pain Ratio 5.99
Current Volume 3245.9k
Average Volume 4002.9k

Piotroski VR‑10 (Strict, 0-10) 2.5

Net Income (895.6m TTM) > 0 and > 6% of Revenue (6% = 379.6m TTM)
FCFTA -0.02 (>2.0%) and ΔFCFTA 1.60pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue -26.63% (prev -35.34%; Δ 8.71pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.06 (>3.0%) and CFO 2.19b > Net Income 895.6m (YES >=105%, WARN >=100%)
Net Debt (15.64b) to EBITDA (2.90b) ratio: 5.39 <= 3.0 (WARN <= 3.5)
Current Ratio 0.52 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (473.7m) change vs 12m ago 4.22% (target <= -2.0% for YES)
Gross Margin 50.59% (prev 51.28%; Δ -0.69pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 19.40% (prev 17.16%; Δ 2.24pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 3.01 (EBITDA TTM 2.90b / Interest Expense TTM 588.7m) >= 6 (WARN >= 3)

Altman Z'' -0.04

(A) -0.05 = (Total Current Assets 1.85b - Total Current Liabilities 3.53b) / Total Assets 34.40b
(B) -0.02 = Retained Earnings (Balance) -572.0m / Total Assets 34.40b
(C) 0.05 = EBIT TTM 1.77b / Avg Total Assets 32.62b
(D) -0.03 = Book Value of Equity -580.2m / Total Liabilities 23.16b
Total Rating: -0.04 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 44.09

1. Piotroski 2.50pt = -2.50
2. FCF Yield -1.48% = -0.74
3. FCF Margin -8.46% = -3.17
4. Debt/Equity 1.73 = 1.16
5. Debt/Ebitda 5.39 = -2.50
6. ROIC - WACC (= 1.62)% = 2.02
7. RoE 10.07% = 0.84
8. Rev. Trend -6.43% = -0.48
9. EPS Trend -10.79% = -0.54

What is the price of NI shares?

As of November 16, 2025, the stock is trading at USD 42.88 with a total of 3,245,873 shares traded.
Over the past week, the price has changed by -1.54%, over one month by +0.55%, over three months by +1.45% and over the past year by +22.41%.

Is NiSource a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, NiSource (NYSE:NI) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 44.09 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of NI is around 48.51 USD . This means that NI is currently undervalued and has a potential upside of +13.13% (Margin of Safety).

Is NI a buy, sell or hold?

NiSource has received a consensus analysts rating of 4.47. Therefore, it is recommended to buy NI.
  • Strong Buy: 11
  • Buy: 4
  • Hold: 1
  • Sell: 1
  • Strong Sell: 0

What are the forecasts/targets for the NI price?

Issuer Target Up/Down from current
Wallstreet Target Price 45.3 5.6%
Analysts Target Price 45.3 5.6%
ValueRay Target Price 52.2 21.8%

NI Fundamental Data Overview November 09, 2025

Market Cap USD = 20.61b (20.61b USD * 1.0 USD.USD)
P/E Trailing = 22.9211
P/E Forward = 21.322
P/S = 3.2573
P/B = 2.2847
P/EG = 2.4525
Beta = 0.63
Revenue TTM = 6.33b USD
EBIT TTM = 1.77b USD
EBITDA TTM = 2.90b USD
Long Term Debt = 12.07b USD (from longTermDebt, last fiscal year)
Short Term Debt = 1.29b USD (from shortTermDebt, last quarter)
Debt = 15.76b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.64b USD (from netDebt column, last quarter)
Enterprise Value = 36.25b USD (20.61b + Debt 15.76b - CCE 119.5m)
Interest Coverage Ratio = 3.01 (Ebit TTM 1.77b / Interest Expense TTM 588.7m)
FCF Yield = -1.48% (FCF TTM -535.5m / Enterprise Value 36.25b)
FCF Margin = -8.46% (FCF TTM -535.5m / Revenue TTM 6.33b)
Net Margin = 14.15% (Net Income TTM 895.6m / Revenue TTM 6.33b)
Gross Margin = 50.59% ((Revenue TTM 6.33b - Cost of Revenue TTM 3.13b) / Revenue TTM)
Gross Margin QoQ = 53.29% (prev 48.71%)
Tobins Q-Ratio = 1.05 (Enterprise Value 36.25b / Total Assets 34.40b)
Interest Expense / Debt = 1.14% (Interest Expense 179.8m / Debt 15.76b)
Taxrate = 16.14% (20.6m / 127.6m)
NOPAT = 1.49b (EBIT 1.77b * (1 - 16.14%))
Current Ratio = 0.52 (Total Current Assets 1.85b / Total Current Liabilities 3.53b)
Debt / Equity = 1.73 (Debt 15.76b / totalStockholderEquity, last quarter 9.12b)
Debt / EBITDA = 5.39 (Net Debt 15.64b / EBITDA 2.90b)
Debt / FCF = -29.21 (negative FCF - burning cash) (Net Debt 15.64b / FCF TTM -535.5m)
Total Stockholder Equity = 8.90b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.60% (Net Income 895.6m / Total Assets 34.40b)
RoE = 10.07% (Net Income TTM 895.6m / Total Stockholder Equity 8.90b)
RoCE = 8.45% (EBIT 1.77b / Capital Employed (Equity 8.90b + L.T.Debt 12.07b))
RoIC = 6.27% (NOPAT 1.49b / Invested Capital 23.69b)
WACC = 4.65% (E(20.61b)/V(36.37b) * Re(7.48%) + D(15.76b)/V(36.37b) * Rd(1.14%) * (1-Tc(0.16)))
Discount Rate = 7.48% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 2.68%
Fair Price DCF = unknown (Cash Flow -535.5m)
EPS Correlation: -10.79 | EPS CAGR: -29.66% | SUE: -0.33 | # QB: 0
Revenue Correlation: -6.43 | Revenue CAGR: -10.07% | SUE: 1.06 | # QB: 1

Additional Sources for NI Stock

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