NiSource Inc. (NI)

NI Income Statement

Revenue, expenses, and profitability analysis

NI Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Revenue	6.822B	2.363B	1.903B	1.273B	1.283B	2.183B	1.588B	1.076B	1.085B
Cost of Goods Sold	3.007B	957.500M	796.900M	594.700M	658.000M	1.075B	798.300M	523.300M	522.400M
Gross Profit	3.815B	1.406B	1.106B	678.400M	625.000M	1.108B	789.500M	553.000M	562.300M
Gross Profit Margin	59.5%	59.5%	58.1%	53.3%	48.7%	50.7%	49.7%	51.4%	51.8%
Total Operating Expenses	1.920B	586.400M	590.800M	380.900M	362.100M	348.500M	372.700M	334.700M	325.300M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	974.300M	489.200M	485.100M	0.00	0.00	3.800M	3.300M	5.900M	2.100M
Operating Income (EBIT)	1.895B	819.200M	515.500M	297.500M	262.900M	759.400M	416.800M	218.300M	237.000M
Operating Margin	34.7%	34.7%	27.1%	23.4%	20.5%	34.8%	26.3%	20.3%	21.8%
Income Before Tax (EBT)	1.226B	642.000M	332.100M	127.600M	124.300M	632.400M	292.900M	112.900M	120.700M
Interest Income	12.900M	4.700M	2.900M	3.800M	1.500M	2.000M	2.600M	3.400M	1.900M
Interest Expense	697.800M	191.600M	187.300M	179.800M	139.100M	132.800M	137.000M	134.600M	129.300M
Other Income/Expense	-669.100M	-177.200M	-183.400M	-169.900M	-138.600M	-127.000M	-123.900M	-105.400M	-116.300M
Net Income	961.800M	507.100M	257.800M	94.700M	102.200M	474.800M	223.900M	85.700M	85.800M
Income Tax Expense	183.900M	85.800M	53.700M	20.600M	23.800M	105.700M	48.600M	15.900M	17.600M
Net Profit Margin	21.5%	21.5%	13.5%	7.4%	8.0%	21.7%	14.1%	8.0%	7.9%
EBITDA	3.121B	1.122B	834.800M	614.300M	550.100M	1.024B	713.900M	517.000M	503.500M
EBITDA Margin	47.5%	47.5%	43.9%	48.3%	42.9%	46.9%	45.0%	48.0%	46.4%
Depreciation & Amortization	1.197B	288.300M	315.400M	306.900M	286.700M	258.600M	278.100M	269.500M	253.500M
EPS Basic	2.02	1.06	0.54	0.20	0.22	1.01	0.47	0.19	0.19
EPS Diluted	2.01	1.06	0.53	0.20	0.22	1.00	0.47	0.19	0.19
Shares Outstanding	479.000M	479.000M	472.900M	472.100M	471.000M	470.400M	469.822M	451.900M	448.500M
Diluted Shares Outstanding	480.900M	480.900M	474.500M	473.700M	472.100M	472.500M	469.900M	454.500M	450.200M

NI Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	6.642B	5.455B	5.505B	5.851B	4.900B	4.682B	5.209B	5.114B
Cost of Goods Sold	2.752B	2.647B	3.028B	3.600B	2.848B	2.695B	2.889B	4.114B
Gross Profit	3.890B	2.808B	2.477B	2.251B	2.051B	1.986B	2.319B	1.000B
Gross Profit Margin	58.6%	51.5%	45.0%	38.5%	41.9%	42.4%	44.5%	19.6%
Total Operating Expenses	2.054B	1.352B	1.182B	984.900M	1.044B	1.436B	1.031B	856.400M
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	1.710B	13.500M	24.000M	-27.600M	-35.500M	-9.300M	16.500M	-18.000M
Operating Income (EBIT)	1.835B	1.456B	1.296B	1.266B	1.007B	550.800M	890.700M	124.700M
Operating Margin	27.6%	26.7%	23.5%	21.6%	20.6%	11.8%	17.1%	2.4%
Income Before Tax (EBT)	1.216B	1.003B	813.900M	956.400M	706.600M	-31.300M	506.600M	-230.600M
Interest Income	10.200M	10.400M	9.000M	4.300M	4.000M	5.500M	7.700M	6.600M
Interest Expense	639.000M	517.200M	489.600M	360.500M	341.100M	371.000M	378.900M	353.300M
Other Income/Expense	-618.900M	-452.700M	-481.600M	-309.400M	-300.300M	-582.100M	-384.100M	-355.300M
Net Income	929.500M	760.400M	714.300M	804.100M	584.900M	-17.600M	383.100M	-50.600M
Income Tax Expense	203.800M	158.100M	139.500M	164.600M	117.800M	-17.100M	123.500M	-180.000M
Net Profit Margin	14.0%	13.9%	13.0%	13.7%	11.9%	-0.4%	7.4%	-1.0%
EBITDA	3.023B	2.569B	2.223B	2.149B	1.798B	1.066B	1.603B	741.600M
EBITDA Margin	45.5%	47.1%	40.4%	36.7%	36.7%	22.8%	30.8%	14.5%
Depreciation & Amortization	1.168B	1.043B	908.200M	820.800M	748.400M	725.900M	717.400M	599.600M
EPS Basic	1.96	1.63	1.59	1.84	1.35	-0.19	0.88	-0.18
EPS Diluted	1.95	1.62	1.48	1.70	1.27	-0.19	0.87	-0.18
Shares Outstanding	472.900M	454.200M	416.100M	407.100M	393.600M	384.347M	374.650M	356.491M
Diluted Shares Outstanding	474.500M	456.000M	447.900M	442.700M	417.300M	384.347M	375.986M	356.500M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About NiSource Inc.

NiSource Inc. operates as an energy holding company, primarily functioning as a regulated natural gas and electric utility within the United States. Its business activities are organized into two main divisions: Gas Distribution Operations and Electric Operations. The company's Gas Distribution segment delivers natural gas to approximately 853,000 customers across northern Indiana, and an additional 2.4 million residential, commercial, and industrial clients throughout Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. This extensive network includes about 54,600 miles of distribution main pipelines and customer service lines, along with 1,000 miles of transmission main pipelines. Through its Electric Operations, NiSource provides electricity to roughly 483,000 customers residing in 20 counties in northern Indiana, while also engaging in wholesale electricity and transmission transactions. The company maintains a diverse portfolio of power generation assets. These include coal-fired plants with capacities of 722 megawatts (MW) in Wheatfield and 455 MW in Michigan City; a 563 MW combined cycle gas turbine facility in West Terre Haute; natural gas generating units providing 155 MW in Wheatfield; hydroelectric plants contributing 9 MW in Carroll County and 7 MW in White County; and wind energy facilities in White County, Indiana, producing 102 MW and 302 MW, respectively. Originally founded in 1847, the company was known as NIPSCO Industries, Inc. before officially changing its name to NiSource Inc. in April 1999. Its corporate headquarters are located in Merrillville, Indiana.

Merrillville, IN

7,687 employees

www.nisource.com

Utilities / Regulated Gas

Sector: Utilities
Industry: Regulated Gas
CEO: Lloyd Yates

View full financials