NiSource Inc
Research NiSource Inc (NI) on Bullrun: valuation model: fairly valued, market cap USD 19.49B, P/E 21.5, dividend yield 2.9%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerNI
- ExchangeNYSE
- CountryUnited States
- SectorUtilities
- IndustryUtilities-Regulated Gas
- CurrencyUSD
- Valuation signalfairly valued
- Market capUSD 19.49B
- P/E21.5
- Dividend yield2.9%
- Financial periodQ2 2026
- RevenueUSD 1.34B
- Net incomeUSD 45.50M
- Free cash flow-USD 417.00M
- Gross margin50.2%
Valuation Snapshot
Bullrun's latest valuation model marks NiSource Inc as fairly valued; latest market cap is USD 19.49B; P/E is 21.5; dividend yield is 2.9%.
Peer valuation comparison
Latest P/E is 21.53x versus a Utilities sector median of 17.14x (25.6% above).
Latest dividend yield is 2.88% versus a Utilities sector median of 3.61% (20.2% below).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 6.52B | USD 929.50M | -USD 420.00M | 51.3% | 1.95 | USD 110.10M | USD 19.70M | USD 9.45B |
| FY2024 | USD 5.28B | USD 760.40M | -USD 832.50M | 53.1% | 1.62 | USD 156.60M | USD 1.28B | USD 8.68B |
| FY2023 | USD 5.35B | USD 714.30M | -USD 710.70M | n/a | 1.48 | USD 2.25B | USD 23.80M | USD 8.27B |
| FY2022 | USD 5.74B | USD 804.10M | -USD 793.70M | n/a | 1.7 | USD 40.80M | USD 1.76B | USD 7.58B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 19.49B | 21.5 | 2.9% | 1.18 |
| 2025 | 2025-12-31 | USD 19.98B | 21.4 | 2.7% | 1.12 |
| 2024 | 2024-12-31 | USD 17.12B | 22.7 | 2.9% | 1.08 |
| 2023 | 2023-12-29 | USD 10.98B | 17.8 | 3.8% | 1 |
| 2022 | 2022-12-30 | USD 11.14B | 17.9 | 3.5% | 0.96 |
| 2021 | 2021-12-31 | USD 11.19B | 21.4 | 3.2% | 0.88 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 1.18 USD, yield 2.9%.
| Year | Dividends/share |
|---|---|
| FY2025 | 1.12 USD |
| FY2024 | 1.06 USD |
| FY2023 | 1 USD |
| FY2022 | 0.94 USD |
About NiSource Inc
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service lines; and 310 miles of transmission main pipeline in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.
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Frequently asked questions
Is NiSource Inc overvalued or undervalued?
Bullrun's valuation model currently marks NiSource Inc as fairly valued.
What is NiSource Inc's market cap?
NiSource Inc's market capitalization is USD 19.49B.
What is NiSource Inc's P/E ratio?
NiSource Inc's price-to-earnings (P/E) ratio is 21.5.
Does NiSource Inc pay a dividend?
NiSource Inc has a dividend yield of 2.9%.
What does NiSource Inc do?
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service lines; and 310 miles of transmission main pipeline in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.