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 Growth (3Y CAGR): 33.20%
EPS Trend (3Y Correlation): 24.4%

NI Revenue

Revenue Growth (3Y CAGR): 6.13%
Revenue Trend (3Y Correlation): 13.4%

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	20,181m
Sub-Industry	Multi-Utilities
IPO / Inception	1984-10-19

NI Stock Ratings

Growth Rating	92.1%
Fundamental	46.5%
Dividend Rating	66.1%
Return 12m vs S&P 500	7.61%
Analyst Rating	4.47 of 5

NI Dividends

Dividend Yield 12m	3.17%
Yield on Cost 5y	6.79%
Annual Growth 5y	5.99%
Payout Consistency	92.8%
Payout Ratio	59.3%

NI Growth Ratios

Growth Correlation 3m	44.9%
Growth Correlation 12m	91%
Growth Correlation 5y	85.5%
CAGR 5y	23.02%
CAGR/Max DD 3y (Calmar Ratio)	1.21
CAGR/Mean DD 3y (Pain Ratio)	6.32
Sharpe Ratio 12m	2.23
Alpha	16.94
Beta	0.601
Volatility	17.26%
Current Volume	2718.1k
Average Volume 20d	3923k
Stop Loss	42.3 (-3%)
Signal	-0.17

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (886.6m TTM) > 0 and > 6% of Revenue (6% = 367.8m TTM)

FCFTA -0.02 (>2.0%) and ΔFCFTA 1.60pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -23.06% (prev -10.77%; Δ -12.29pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.06 (>3.0%) and CFO 2.06b > Net Income 886.6m (YES >=105%, WARN >=100%)

Net Debt (15.42b) to EBITDA (2.80b) ratio: 5.50 <= 3.0 (WARN <= 3.5)

Current Ratio 0.59 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (472.1m) change vs 12m ago 4.86% (target <= -2.0% for YES)

Gross Margin 50.17% (prev 50.84%; Δ -0.67pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 19.18% (prev 17.53%; Δ 1.65pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.15 (EBITDA TTM 2.80b / Interest Expense TTM 543.5m) >= 6 (WARN >= 3)

Altman Z'' 0.01

(A) -0.04 = (Total Current Assets 2.00b - Total Current Liabilities 3.41b) / Total Assets 34.03b

(B) -0.02 = Retained Earnings (Balance) -532.1m / Total Assets 34.03b

(D) -0.02 = Book Value of Equity -555.6m / Total Liabilities 23.03b

Total Rating: 0.01 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 46.50

1. Piotroski 3.50pt = -1.50

2. FCF Yield -1.85% = -0.92

3. FCF Margin -10.73% = -4.02

4. Debt/Equity 1.77 = 1.10

5. Debt/Ebitda 5.50 = -2.50

6. ROIC - WACC (= 1.02)% = 1.27

7. RoE 10.19% = 0.85

8. Rev. Trend 13.41% = 1.01

9. EPS Trend 24.38% = 1.22

What is the price of NI shares?

As of October 26, 2025, the stock is trading at USD 43.63 with a total of 2,718,060 shares traded.
Over the past week, the price has changed by +0.88%, over one month by +2.95%, over three months by +4.82% and over the past year by +27.35%.

Is NiSource a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, NiSource (NYSE:NI) is currently (October 2025) a stock to sell. It has a ValueRay Fundamental Rating of 46.50 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 50.14 USD . This means that NI is currently undervalued and has a potential upside of +14.92% (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	44.3	1.5%
Analysts Target Price	44.3	1.5%
ValueRay Target Price	54.1	24%

NI Fundamental Data Overview October 13, 2025

Market Cap USD = 20.18b (20.18b USD * 1.0 USD.USD)
P/E Trailing = 22.7979
P/E Forward = 21.322
P/S = 3.292
P/B = 2.2847
P/EG = 2.4525
Beta = 0.601
Revenue TTM = 6.13b USD
EBIT TTM = 1.71b USD
EBITDA TTM = 2.80b USD
Long Term Debt = 14.47b USD (from longTermDebt, last quarter)
Short Term Debt = 1.28b USD (from shortTermDebt, last quarter)
Debt = 15.76b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.42b USD (from netDebt column, last quarter)
Enterprise Value = 35.60b USD (20.18b + Debt 15.76b - CCE 335.4m)
Interest Coverage Ratio = 3.15 (Ebit TTM 1.71b / Interest Expense TTM 543.5m)
FCF Yield = -1.85% (FCF TTM -657.6m / Enterprise Value 35.60b)
FCF Margin = -10.73% (FCF TTM -657.6m / Revenue TTM 6.13b)
Net Margin = 14.46% (Net Income TTM 886.6m / Revenue TTM 6.13b)
Gross Margin = 50.17% ((Revenue TTM 6.13b - Cost of Revenue TTM 3.05b) / Revenue TTM)
Gross Margin QoQ = 48.71% (prev 50.75%)
Tobins Q-Ratio = 1.05 (Enterprise Value 35.60b / Total Assets 34.03b)
Interest Expense / Debt = 0.88% (Interest Expense 139.1m / Debt 15.76b)
Taxrate = 19.15% (23.8m / 124.3m)
NOPAT = 1.38b (EBIT 1.71b * (1 - 19.15%))
Current Ratio = 0.59 (Total Current Assets 2.00b / Total Current Liabilities 3.41b)
Debt / Equity = 1.77 (Debt 15.76b / totalStockholderEquity, last quarter 8.88b)
Debt / EBITDA = 5.50 (Net Debt 15.42b / EBITDA 2.80b)
Debt / FCF = -23.45 (negative FCF - burning cash) (Net Debt 15.42b / FCF TTM -657.6m)
Total Stockholder Equity = 8.70b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.61% (Net Income 886.6m / Total Assets 34.03b)
RoE = 10.19% (Net Income TTM 886.6m / Total Stockholder Equity 8.70b)
RoCE = 7.39% (EBIT 1.71b / Capital Employed (Equity 8.70b + L.T.Debt 14.47b))
RoIC = 5.95% (NOPAT 1.38b / Invested Capital 23.26b)
WACC = 4.93% (E(20.18b)/V(35.94b) * Re(8.23%) + D(15.76b)/V(35.94b) * Rd(0.88%) * (1-Tc(0.19)))
Discount Rate = 8.23% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.51%
Fair Price DCF = unknown (Cash Flow -657.6m)
EPS Correlation: 24.38 | EPS CAGR: 33.20% | SUE: 0.32 | # QB: 0
Revenue Correlation: 13.41 | Revenue CAGR: 6.13% | SUE: 0.26 | # QB: 0

Additional Sources for NI Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle