(NI) NiSource - Overview
Stock: Natural Gas, Electricity, Transmission, Distribution
| Risk 5d forecast | |
|---|---|
| Volatility | 15.9% |
| Relative Tail Risk | 3.24% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.80 |
| Alpha | 11.84 |
| Character TTM | |
|---|---|
| Beta | 0.384 |
| Beta Downside | 0.564 |
| Drawdowns 3y | |
|---|---|
| Max DD | 19.04% |
| CAGR/Max DD | 1.18 |
EPS (Earnings per Share)
Revenue
Description: NI NiSource December 19, 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. Its operations are split between the Columbia Operations and NIPSCO Operations segments, delivering gas via about 37,200 mi of distribution mains and 330 mi of transmission pipelines, while generating, transmitting, and distributing electricity through a diversified mix that includes coal, combined-cycle gas, hydro, wind, and solar assets.
According to NiSource’s 2023 Form 10-K (the most recent filing available as of December 2025), the company reported revenue of approximately **$7.5 billion**, an adjusted earnings-per-share of **$2.30**, and a **dividend yield near 2.8 %**. Its leverage measured by debt-to-EBITDA stood at roughly **4.5×**, indicating a moderate debt burden for a capital-intensive utility. Key economic drivers for NiSource include natural-gas price volatility (which affects both fuel costs for its gas-fired plants and the cost of supply to customers) and the regulatory environment, where state-level rate cases determine allowed returns on its regulated asset base. At the sector level, utilities like NiSource are increasingly sensitive to interest-rate movements because higher rates raise the cost of capital embedded in rate-case filings and can compress dividend yields.
For a deeper quantitative view of NiSource’s valuation metrics and scenario analysis, you might explore the data tools available on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 3.0
| Net Income: 929.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 1.51 > 1.0 |
| NWC/Revenue: -24.23% < 20% (prev -37.27%; Δ 13.04% < -1%) |
| CFO/TA 0.06 > 3% & CFO 2.19b > Net Income 929.5m |
| Net Debt (15.48b) to EBITDA (1.75b): 8.87 < 3 |
| Current Ratio: 0.53 > 1.5 & < 3 |
| Outstanding Shares: last quarter (474.5m) vs 12m ago 0.98% < -2% |
| Gross Margin: 74.25% > 18% (prev 0.51%; Δ 7374 % > 0.5%) |
| Asset Turnover: 20.07% > 50% (prev 17.16%; Δ 2.91% > 0%) |
| Interest Coverage Ratio: -0.90 > 6 (EBITDA TTM 1.75b / Interest Expense TTM -639.0m) |
Altman Z'' -0.28
| A: -0.05 (Total Current Assets 1.85b - Total Current Liabilities 3.46b) / Total Assets 34.40b |
| B: -0.01 (Retained Earnings -315.2m / Total Assets 34.40b) |
| C: 0.02 (EBIT TTM 577.4m / Avg Total Assets 33.10b) |
| D: -0.05 (Book Value of Equity -316.6m / Total Liabilities 5.96b) |
| Altman-Z'' Score: -0.28 = B |
What is the price of NI shares?
Over the past week, the price has changed by +1.43%, over one month by +6.08%, over three months by +2.34% and over the past year by +19.41%.
Is NI a buy, sell or hold?
- StrongBuy: 11
- Buy: 4
- Hold: 1
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the NI price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 46.9 | 4.9% |
| Analysts Target Price | 46.9 | 4.9% |
| ValueRay Target Price | 54.1 | 21.2% |
NI Fundamental Data Overview February 12, 2026
P/E Forward = 21.9298
P/S = 3.3456
P/B = 2.3215
P/EG = 2.1926
Revenue TTM = 6.64b USD
EBIT TTM = 577.4m USD
EBITDA TTM = 1.75b USD
Long Term Debt = 14.47b USD (from longTermDebt, two quarters ago)
Short Term Debt = 15.48b USD (from shortTermDebt, last fiscal year)
Debt = 15.48b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 15.48b USD (from netDebt column, last fiscal year)
Enterprise Value = 36.65b USD (21.17b + Debt 15.48b - (null CCE))
Interest Coverage Ratio = -0.90 (Ebit TTM 577.4m / Interest Expense TTM -639.0m)
EV/FCF = -68.43x (Enterprise Value 36.65b / FCF TTM -535.5m)
FCF Yield = -1.46% (FCF TTM -535.5m / Enterprise Value 36.65b)
FCF Margin = -8.06% (FCF TTM -535.5m / Revenue TTM 6.64b)
Net Margin = 13.99% (Net Income TTM 929.5m / Revenue TTM 6.64b)
Gross Margin = 74.25% ((Revenue TTM 6.64b - Cost of Revenue TTM 1.71b) / Revenue TTM)
Gross Margin QoQ = none% (prev 53.29%)
Tobins Q-Ratio = 1.07 (Enterprise Value 36.65b / Total Assets 34.40b)
Interest Expense / Debt = -7.05% (Interest Expense -1.09b / Debt 15.48b)
Taxrate = 41.19% (136.8m / 332.1m)
NOPAT = 339.6m (EBIT 577.4m * (1 - 41.19%))
Current Ratio = 0.53 (Total Current Assets 1.85b / Total Current Liabilities 3.46b)
Debt / Equity = 1.64 (Debt 15.48b / totalStockholderEquity, last fiscal year 9.45b)
Debt / EBITDA = 8.87 (Net Debt 15.48b / EBITDA 1.75b)
Debt / FCF = -28.90 (negative FCF - burning cash) (Net Debt 15.48b / FCF TTM -535.5m)
Total Stockholder Equity = 8.90b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.81% (Net Income 929.5m / Total Assets 34.40b)
RoE = 10.45% (Net Income TTM 929.5m / Total Stockholder Equity 8.90b)
RoCE = 2.47% (EBIT 577.4m / Capital Employed (Equity 8.90b + L.T.Debt 14.47b))
RoIC = 1.39% (NOPAT 339.6m / Invested Capital 24.43b)
WACC = 4.23% (E(21.17b)/V(36.65b) * Re(7.33%) + (debt cost/tax rate unavailable))
Discount Rate = 7.33% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 2.77%
Fair Price DCF = unknown (Cash Flow -535.5m)
EPS Correlation: -14.17 | EPS CAGR: -61.51% | SUE: -4.0 | # QB: 0
Revenue Correlation: 11.01 | Revenue CAGR: 0.42% | SUE: 1.85 | # QB: 2
EPS next Quarter (2026-03-31): EPS=1.05 | Chg30d=+0.004 | Revisions Net=+3 | Analysts=7
EPS next Year (2026-12-31): EPS=2.05 | Chg30d=-0.015 | Revisions Net=+2 | Growth EPS=+8.6% | Growth Revenue=+6.7%