NI Stock Analysis: NiSource | NYSE
Utilities - Regulated Gas | NYSE, USA | Market Cap: 20.798m USD | 12M Return: 3.8% | US65473P1057 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 226M
EPS Trend: 93.5%
Qual. Beats: 0
Rev. Trend: 85.3%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
NiSource Inc. is a U.S.-based energy holding company that operates as a regulated natural gas and electric utility through two business segments: Columbia Operations and NIPSCO Operations. The company delivers natural gas to residential, commercial, and industrial customers across Ohio, Pennsylvania, Virginia, Kentucky, and Maryland via a network of distribution and transmission pipelines, and provides electricity to approximately 0.5 million customers in northern Indiana. Its electric generation portfolio is diversified across steam coal, combined cycle gas turbine, natural gas, hydroelectric, wind, and solar facilities spread across several Indiana counties. Founded in 1847 and headquartered in Merrillville, Indiana, the company was previously known as NIPSCO Industries before adopting its current name in April 1999.
As a multi-utility operating in the regulated Utilities sector, NiSource earns revenue primarily through state-regulated rate structures set by public utility commissions, which generally allow a fixed return on approved capital investments in transmission, distribution, and generation infrastructure. The combination of gas distribution and electric generation under one holding company is a common structure among multi-utilities, providing diversification across customer bases and fuel types while keeping earnings tied to the regulated rate base rather than commodity prices.
- Multi-billion pipeline replacement capex expands regulated rate base
- Indiana rate case outcomes determine earnings growth trajectory
- Winter heating demand drives natural gas distribution volumes
| Net Income: 905.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -0.96 > 1.0 |
| NWC/Revenue: -32.19% < 20% (prev -23.06%; Δ -9.13% < -1%) |
| CFO/TA 0.06 > 3% & CFO 2.30b > Net Income 905.1m |
| Net Debt (17.7b) to EBITDA (3.14b): 5.63 < 3 |
| Current Ratio: 0.50 > 1.5 & < 3 |
| Outstanding Shares: last quarter (481.2m) vs 12m ago 1.93% < -2% |
| Gross Margin: 49.67% > 18% (prev 50.17%; Δ -0.50% > 0.5%) |
| Asset Turnover: 19.23% > 50% (prev 18.01%; Δ 1.21% > 0%) |
| Interest Coverage Ratio: 2.47 > 6 (EBIT TTM 1.87b / Interest Expense TTM 757.9m) |
| A: -0.06 (Total Current Assets 2.20b - Total Current Liabilities 4.41b) / Total Assets 37.5b |
| B: -0.01 (Retained Earnings -196.2m / Total Assets 37.5b) |
| C: 0.05 (EBIT TTM 1.87b / Avg Total Assets 35.8b) |
| D: 0.37 (Book Value of Equity 9.57b / Total Liabilities 25.6b) |
| Altman-Z'' = 0.34 = B |
| DSRI: 0.93 (Receivables 846.5m/811.6m, Revenue 6.88b/6.13b) |
| GMI: 1.01 (GM 50.17% / 49.67%) |
| AQI: 0.95 (AQ_t 0.13 / AQ_t-1 0.13) |
| SGI: 1.12 (Revenue 6.88b / 6.13b) |
| TATA: -0.04 (NI 905.1m - CFO 2.30b) / TA 37.5b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of August 10, 2026, the stock is trading at USD 42.61 with a total of 7,507,020 shares traded. Over the past week, the price has changed by -4.10%, over one month by -8.07%, over three months by -8.79% and over the past year by +3.80%.
Current recommended Stop Loss: 41.00 (which is 3.8% or 1.6 ATR below the current price).
NiSource has received a consensus analysts rating of 4.47. Therefore, it is recommended to buy NI.
- StrongBuy: 11
- Buy: 4
- Hold: 1
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 51.2 | 20.1% |
P/E Trailing = 22.8316
P/E Forward = 21.8341
P/S = 3.0223
P/B = 2.2105
P/EG = 2.5382
Revenue TTM = 6.88b USD
EBIT TTM = 1.87b USD
EBITDA TTM = 3.14b USD
Long Term Debt = 15.6b USD (from longTermDebt, last quarter)
Short Term Debt = 1.95b USD (from shortTermDebt, last quarter)
Debt = 17.8b USD (from shortLongTermDebtTotal, last quarter) + Leases 211.4m
Net Debt = 17.7b USD (calculated: Debt 17.8b - CCE 70.0m)
Enterprise Value = 38.5b USD (20.8b + Debt 17.8b - CCE 70.0m)
Interest Coverage Ratio = 2.47 (Ebit TTM 1.87b / Interest Expense TTM 757.9m)
EV/FCF = -35.45x (Enterprise Value 38.5b / FCF TTM -1.09b)
FCF Yield = -2.82% (FCF TTM -1.09b / Enterprise Value 38.5b)
FCF Margin = -15.78% (FCF TTM -1.09b / Revenue TTM 6.88b)
Net Margin = 13.15% (Net Income TTM 905.1m / Revenue TTM 6.88b)
Gross Margin = 49.67% ((Revenue TTM 6.88b - Cost of Revenue TTM 3.46b) / Revenue TTM)
Gross Margin QoQ = 16.99% (prev 59.48%)
Tobins Q-Ratio = 1.03 (Enterprise Value 38.5b / Total Assets 37.5b)
Interest Expense / Debt = 4.26% (Interest Expense 757.9m / Debt 17.8b)
Taxrate = 14.82% (170.3m / 1.15b)
NOPAT = 1.59b (EBIT 1.87b * (1 - 14.82%))
Current Ratio = 0.50 (Total Current Assets 2.20b / Total Current Liabilities 4.41b)
Debt / Equity = 1.86 (Debt 17.8b / totalStockholderEquity, last quarter 9.57b)
Debt / EBITDA = 5.63 (Net Debt 17.7b / EBITDA 3.14b)
Debt / FCF = -16.30 (negative FCF - burning cash) (Net Debt 17.7b / FCF TTM -1.09b)
Total Stockholder Equity = 9.45b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.53% (Net Income 905.1m / Total Assets 37.5b)
RoE = 9.58% (Net Income TTM 905.1m / Total Stockholder Equity 9.45b)
RoCE = 7.46% (EBIT 1.87b / Capital Employed (Equity 9.45b + L.T.Debt 15.6b))
RoIC = 4.55% (NOPAT 1.59b / Invested Capital 35.0b)
WACC = 4.98% (E(20.8b)/V(38.6b) * Re(6.13%) + D(17.8b)/V(38.6b) * Rd(4.26%) * (1-Tc(0.15)))
Discount Rate = 6.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 93.42 | Cagr: 3.09%
[DCF] Fair Price = unknown (Cash Flow -1.09b)
EPS Correlation: 93.45 | EPS CAGR: 8.00% | SUE: 0.33 | # QB: 0
Revenue Correlation: 85.27 | Revenue CAGR: 10.22% | SUE: 0.69 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.22 | Chg30d=+0.69% | Revisions=+29% | Analysts=8
EPS current Year (2026-12-31): EPS=2.06 | Chg30d=-0.02% | Revisions=+0% | GrowthEPS=+8.2% | GrowthRev=+8.4%
EPS next Year (2027-12-31): EPS=2.25 | Chg30d=+0.19% | Revisions=+38% | GrowthEPS=+9.6% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: +31% (up=9, down=4)