# NiSource Inc (NI) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Utilities / Gas Utilities. Price $41.39, market value $19.8 billion.

## Valuation
- **P/E (trailing): 22.0×** (5-yr avg 18.5×, 3-yr avg 19.8×). NiSource Inc trades at 22.0× trailing earnings, close to its own five-year average of 18.5×. The Utilities median in the September 2026 study was 21.2×. Forward P/E is 18.4×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.90**. A PEG of 0.90 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 2.9×**. Each dollar of revenue is priced at 2.9×.
- **Price / book: 2.1×**. The shares trade at 2.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.3×**. Enterprise value is 6.3× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -5.5%** (5-yr avg -5.5%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 4.5%**. The inverse of the P/E: 4.5% of the price is earned each year.

## Profitability
- **Operating margin: 27.6%**. 27.6% of revenue is left after running the business, an exceptional level.
- **Net margin: 14.3%**. 14.3% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.8%**. 9.8% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 15.7%**. Return on all capital, debt included, is 15.7%: comfortably above what that capital costs.
- **Return on assets: 2.5%**. Each dollar of assets produces 2.5% of profit.

## Growth
- **Revenue growth (1 yr): 23.5%** (3-yr 4.4%/yr, 5-yr 7.8%/yr). Revenue grew 23.5% over the last year, against 7.8% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 20.4%** (3-yr 4.7%/yr). Earnings per share rose 20.4%, roughly in step with revenue.

## Financial health
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. NiSource Inc holds more cash than debt.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.90%** ($0.58 per share, trailing). NiSource Inc yields 2.90%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 57%**. 57% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 21**. 21 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 5.9%/yr** (1-yr 5.7%). The dividend has grown 5.9% a year over five years.

## Analyst view
- **Analyst consensus: buy** (14 analysts). 14 analysts cover NiSource Inc; the consensus is buy, with an average price target of $49.86 (+20% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 6.0%** (YTD 0.4%, 3-mo -11.2%). The shares are up 6.0% over twelve months including dividends.
- **From 52-week high: -15.9%** (5.3% above the low). Trading 16% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.15** (volatility 18%). Beta of 0.15 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=NI · Page: https://foliofundamentals.com/stocks/ni

Not investment advice.