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NiSource NI Gross margin

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$22.42B+18.5%
Enterprise value$39.1B+21.2%
P/E23.3×+1.6×
P/S2×0.0×

Profitability

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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.

gross profit/total revenue=44.9%

Based on trailing twelve months.

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 gross margin?
NiSource (NI) reported gross margin of 44.9% in Q1 2026.
How has NiSource's gross margin changed year-over-year?
NiSource's gross margin decreased by 1.4% year-over-year, from 45.6% to 44.9%.
What is the long-term trend for NiSource's gross margin?
Over 4 years (2021 to 2025), NiSource's gross margin has grown at a -13.7% compound annual growth rate (CAGR), from 326.9% to 181.4%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.