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NiSource NI Debt-to-assets

Other financials

Income statement

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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

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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

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Operating cash flow$442.3M-35.6%
CapEx$805.2M+26.4%
Free cash flow-$362.9M-839%

Valuation

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Market cap$22.66B+18.5%
Enterprise value$39.34B+21.2%
P/E23.6×+1.6×
P/S2×0.0×

Profitability

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Gross margin44.9%-0.7pp
Operating margin16.7%-0.3pp
Net margin8.5%-0.6pp

Returns & leverage

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Return on equity10.4%0.0pp
Debt / equity1.7×+0.2×
Current ratio0.6×+0.1×

Where this comes from

Calculated from NiSource’s reported figures.

total debt/total assets=0.5×

Based on the most recent quarter.

The official record: NiSource’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NiSource's debt-to-assets?
NiSource (NI) reported debt-to-assets of 0.5× in Q1 2026.
How has NiSource's debt-to-assets changed year-over-year?
NiSource's debt-to-assets increased by 11.4% year-over-year, from 0.4× to 0.5×.
What is the long-term trend for NiSource's debt-to-assets?
Over 4 years (2021 to 2025), NiSource's debt-to-assets has grown at a 1.0% compound annual growth rate (CAGR), from 1.7× to 1.8×.
What does debt-to-assets mean?
What fraction of everything the company owns is funded by debt.
How do you interpret debt-to-assets?
A lower ratio indicates a more conservatively financed balance sheet. Rising debt-to-assets over time signals increasing financial risk.
How does debt-to-assets compare across companies?
Comparable within an industry; bounded between 0 and 1 for most non-financials, which makes cross-company reads cleaner than debt-to-equity.