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NiSource NI Q4 2025 Annual earnings

Reported February 11, 2026 · Before market open

Revenue$1.9BBeat by $472.4M
EPS$0.51Beat by $0.01
Revenue estimate$1.4B
EPS estimate$0.50

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$1.3B
EPS estimate$0.21

Financials

Q4 2025

Income statement

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Revenue$6.5B+23.5%
Gross profit$1.4B+35.2%
Operating income$515.5M+23.7%
Net income$257.8M+15.1%
EPS (diluted)$0.53+10.4%

Balance sheet

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Cash & equivalents$110.1M-29.7%
Total debt$16.5B+27.3%
Total equity$9.5B+8.8%
Total assets$35.9B+12.8%

Cash flow

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Operating cash flow$712.6M+32.0%
CapEx$846.3M+11.4%
Free cash flow-$133.7M+39.3%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$19.76B+15.2%
Enterprise value$36.15B+20.7%
P/E21.3×-1.3×
P/S1.8×-0.1×

Profitability

See full
Gross margin44.3%-1.1pp
Operating margin16.4%+0.5pp
Net margin8.3%0.0pp
FCF margin-3.8%-1.4pp

Returns & leverage

See full
Return on equity10.3%+1.3pp
Debt / equity1.7×+0.3×
Current ratio0.7×+0.2×

Segments

By segment

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Columbia Operations$998.1M+30.7%
NIPSCO Operations$789.0M+21.0%
Corporate and Other-$3.6M-500%

FAQ

When did NiSource report Q4 2025 earnings?
NiSource (NI) reported Q4 2025 earnings on February 11, 2026 before market open.
What were NiSource's Q4 2025 revenue and EPS?
NiSource reported revenue of $1.9B and eps of $0.51 for Q4 2025.
Did NiSource beat estimates in Q4 2025?
Revenue beat the consensus estimate of $1.4B by $472.4M. EPS beat the consensus estimate of $0.50 by $0.01.
How did NiSource's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 19.8% from $1.6B a year earlier and eps grew 4.1% from $0.49.
Where can I find NiSource's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001111711-26-000026) and the 10-K periodic report (0001111711-26-000027) directly on SEC EDGAR. The filing index links above go to sec.gov.