What is NiSource's market cap?

NiSource (NI) has a market capitalization of $22.5B and trades on NYSE.

What is NiSource's revenue and profitability?

NiSource generated $11.3B in trailing twelve-month revenue with net income of $961.8M, representing a net margin of 8.5%. Gross margin stands at 44.9%, with free cash flow of -$832.0M. These figures are based on the Q1 2026 filing.

Who are NiSource's competitors?

NiSource's key competitors include Duke Energy, American Electric Power, Southwest Gas Holdings, Inc., and others. These companies compete in similar markets and product categories.

Who does NiSource partner with?

NiSource's notable partners include MISO, LRQA, American Petroleum Institute.

What subsidiaries does NiSource have?

NiSource's subsidiaries include Northern Indiana Public Service Company, Columbia Gas of Ohio, Columbia Gas of Pennsylvania, and others.

Where is NiSource headquartered?

NiSource is headquartered in United States of America and employs approximately 7,411 people. It has been publicly traded since 1972.

NiSource

NiSource Inc. is a leading energy holding company that operates fully regulated natural gas and electric utility subsidiaries.

Market cap

$22.46B+20.6%

Revenue$11.3B+18.1%

Net income$961.8M+10.5%

Free cash flow-$832.0M-28.0%

EPS (diluted)$2.01+8.1%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

May 6, 2026

Revenue$2.4BMiss by $157.4M EPS$1.06In line

Read the full report

Next report

Aug 5, 2026 (In 3 weeks)

Revenue estimate$1.2B

EPS estimate$0.21

Financials

Q1 2026

Income statement

See full

Revenue$2.3B+8.0%

Gross profit$1.7B+10.1%

Operating income$819.2M+7.9%

Net income$507.1M+6.8%

EPS (diluted)$1.06+6.0%

Balance sheet

See full

Cash & equivalents$71.9M-72.3%

Total debt$16.7B+23.1%

Total equity$9.7B+8.6%

Total assets$36.6B+10.6%

Cash flow

See full

Operating cash flow$442.3M-35.6%

CapEx$805.2M+26.3%

Free cash flow-$362.9M-839%

Valuation & ratios

Valuation

See full

Market cap$22.46B+20.6%

Enterprise value$39.14B+19.5%

P/E23.4×+2.4×

P/S2×+0.1×

Profitability

See full

Gross margin44.9%-0.7pp

Operating margin16.7%-0.3pp

Net margin8.5%-0.6pp

FCF margin-7.3%+0.7pp

Returns & leverage

See full

Return on equity10.4%0.0pp

Debt / equity1.7×+0.2×

Current ratio0.6×+0.1×

Segments

By segment

See full

Columbia Operations$1.3B+7.2%

NIPSCO Operations$993.7M+9.2%

Corporate and Other$1.4M+16.7%

Competitors

By market cap

Duke Energy$98.8B+8.4%

American Electric Power$73.9B+33.3%

CNP

CenterPoint Energy$28.8B+22.8%

NiSource$22.5B+20.6%

SWX

Southwest Gas Holdings$6.6B+24.1%

New Jersey Resources$5.8B+27.6%

OGS

ONE GAS$4.9B+12.3%

Unitil$944.5M+10.6%

By revenue growth

American Electric Power+24.8%

Unitil+19.6%

NiSource+18.1%

CNP

CenterPoint Energy+5.2%

New Jersey Resources+5.1%

Duke Energy+4.0%

By net margin

New Jersey Resources15.67%-4.4pp

Duke Energy15.66%+1.3pp

American Electric Power13.08%+1.3pp

CNP

CenterPoint Energy11.38%+0.6pp

Unitil9.6%-0.1pp

OGS

ONE GAS8.6%—

NiSource8.49%-0.6pp

Profile

NiSource Inc. is a leading energy holding company that operates fully regulated natural gas and electric utility subsidiaries. The company provides essential energy services to approximately 3.8 million customers across six states, focusing on safe, reliable infrastructure and long-term rate-regulated asset growth. Its value proposition is centered on maintaining a stable, regulated utility portfolio while expanding into renewable generation and specialized electric services for data centers.

Competitive position

NiSource maintains a strong competitive position through exclusive service territories for electric operations and a dominant market presence in gas distribution supported by customer preference for natural gas.

GeographiesIndiana, Ohio, Pennsylvania, Virginia, Kentucky, Maryland

Customer segmentsResidential, Commercial, Industrial, Enterprise Data Centers

Business modelRegulated Utility, Asset-based Infrastructure, Power Purchase Agreements (PPA)

SuppliersNatural gas producers, Energy marketers, Renewable energy equipment manufacturers, Coal suppliers, Interstate pipeline operators

CustomersResidential households, Small businesses, Large industrial manufacturing plants, Hyperscale data centers, Municipalities

CountryUnited States of America

Listed1972

Employees7.4K

CEOLloyd Yates

SectorUtilities

IndustryRegulated Gas

Websitenisource.com

FilingsSEC EDGAR

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Questions, answered.

What is NiSource's market cap?: NiSource (NI) has a market capitalization of $22.5B and trades on NYSE.
What is NiSource's revenue and profitability?: NiSource generated $11.3B in trailing twelve-month revenue with net income of $961.8M, representing a net margin of 8.5%. Gross margin stands at 44.9%, with free cash flow of -$832.0M. These figures are based on the Q1 2026 filing.
Who are NiSource's competitors?: NiSource's key competitors include Duke Energy, American Electric Power, Southwest Gas Holdings, Inc., and others. These companies compete in similar markets and product categories.
Who does NiSource partner with?: NiSource's notable partners include MISO, LRQA, American Petroleum Institute.
What subsidiaries does NiSource have?: NiSource's subsidiaries include Northern Indiana Public Service Company, Columbia Gas of Ohio, Columbia Gas of Pennsylvania, and others.
Where is NiSource headquartered?: NiSource is headquartered in United States of America and employs approximately 7,411 people. It has been publicly traded since 1972.