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NiSource NI
$ 41.39 1.24%
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Quarterly report 2026-Q2
added 08-05-2026

NiSource Financial Ratios 2025-2007 | NI

Brief overview of NiSource 's valuation and returns

The review covers five available annual periods spanning 2021 to 2025.

The latest available valuation ratios are P/E 22.86x (median 19.48x), EV/EBITDA 7.04x (median 6.23x), P/S 3.26x (median 2.41x). The current ratio basket stands about 17.4% above the five-year base, increasing sensitivity to weak reports.

At the current P/E, inverse earnings yield is 4.4%, a useful bridge between price and business earnings.

Capital efficiency is characterized by ROE 9.8%, ROA 2.6%, ROCE 12.5%. Low capital returns limit the ability to compound value internally.

The PEG ratio is 1.59x, reflecting a relatively balanced link between valuation and growth.

The cash conversion cycle shortened from -106.3 days to -168.5 days, or 62.2 days. Working capital returns faster.

Conclusion

NiSource 's market premium is not yet supported by strong capital returns, raising valuation risk.

Annual Financial Ratios NiSource

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

P/E

22.9 23.2 15.2 13.9 19.5 -462.9 28.5 -188.5 62.7 21.2 23.3 10.1 7.9 - 8.4 5.6 5.5 24.4 -

P/S

3.3 3.3 2.0 1.9 2.4 1.8 2.1 1.9 1.7 1.6 1.4 0.8 0.7 - 0.4 - - - -

EPS

2.0 1.6 1.6 1.8 1.4 -0.2 0.9 -0.2 0.4 1.0 0.9 1.7 1.7 1.4 1.1 1.0 0.8 0.3 -

EV (Enterprise Value)

21.1 B 17.5 B 8.61 B 11.1 B 11.3 B 8.03 B 27.4 B 25.5 B 23.7 B 21.6 B 20.3 B 24 B 20.9 B 18.1 B 18.2 B 1.58 B 1.18 B 1.91 B -34.6 M

EBITDA per Share

6.35 5.5 5.3 5.13 4.46 3.32 5.4 2.04 4.51 4.36 4.17 5.68 5.34 - 5.16 5.35 5.05 5.42 -

EV/EBITDA

7.0 7.0 3.9 5.3 6.2 10.4 10.1 25.6 11.5 10.6 10.2 8.5 7.8 - 7.2 1.1 0.8 1.3 -

PEG

1.59 6.46 0.42 0.57 0.89 -28.98 0.05 1.29 -1.01 1.49 -0.5 -7.4 0.41 - 8.8 - - - -

P/B

0.6 0.6 0.3 0.4 0.5 0.4 1.8 1.7 1.9 1.7 1.7 0.9 0.7 0.6 0.5 0.1 0.1 - -

P/CF

9.0 9.9 5.6 7.9 9.4 7.4 -49.8 -7.5 -8.4 -10.5 69.5 -7.6 -9.5 - -9.8 2.2 0.7 3.3 -

ROE %

9.84 8.76 8.64 10.61 8.04 -0.30 6.40 -0.88 2.97 8.14 7.45 8.58 9.04 - 5.99 5.77 4.49 1.68 -

ROA %

2.59 2.39 2.30 3.01 2.42 -0.08 1.69 -0.23 0.64 1.77 1.64 2.13 2.35 - 1.44 1.42 1.13 - -

ROCE %

12.46 10.69 10.05 10.35 8.23 2.79 6.90 0.71 5.46 5.62 5.40 5.66 5.60 - 5.32 8.65 7.89 19.50 -

Current Ratio

- - - - - - 0.5 0.5 0.6 0.5 0.6 0.6 0.7 0.7 0.6 - - - -

DSO

60.5 63.1 65.0 59.4 62.4 67.2 63.4 81.8 70.7 69.3 53.4 63.9 69.8 - 55.8 - - - -

DIO

- - - - - - 53.6 37.5 54.9 63.5 67.9 54.2 54.1 - 83.8 - - - -

DPO

228.9 259.9 196.3 138.1 168.7 206.5 84.1 78.4 72.9 69.2 51.5 56.1 61.2 - 62.1 66.8 27.6 - -

Operating Cycle

60.5 63.1 65.0 59.4 62.4 67.2 117.1 119.3 125.7 132.7 121.4 118.2 123.9 - 139.6 - - - -

Cash Conversion Cycle

-168.5 -196.8 -131.3 -78.7 -106.3 -139.2 33.0 40.9 52.7 63.5 69.8 62.0 62.6 - 77.5 -66.8 -27.6 - -

All numbers in USD currency

Quarterly Financial Ratios NiSource

2026-Q2 2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2

EPS

0.1 1.06 0.2 0.22 1.01 - 0.19 0.19 0.77 - 0.19 0.1 0.77 - 0.13 0.13 1.02 - 0.13 0.12 0.72 0.18 -0.49 -0.05 0.16 -0.41 -0.02 0.76 0.55 -0.05 -0.95 0.07 0.82 -0.16 0.04 -0.14 0.65 0.28 0.08 0.09 0.58 0.19 -0.02 -0.11 0.85 0.49 0.1 0.25 0.85 0.48 0.16 0.23 0.83 0.43 0.06 0.24 0.68 0.05 0.12 0.14 0.75 0.12 0.1

EBITDA per Share

1.23 2.31 1.28 1.17 2.16 - 1.08 1.09 1.84 - 1.07 0.97 1.79 - 0.89 0.87 1.95 - 0.85 0.84 1.57 0.56 0.71 0.7 0.87 -0.1 0.73 1.72 1.47 -0.21 -0.46 0.74 1.61 0.8 0.77 0.82 1.73 0.7 0.78 0.86 1.61 0.69 0.76 0.69 1.62 0.72 0.62 0.85 1.66 1.1 1.03 1.08 1.84 0.99 0.88 1.23 1.93 0.65 0.99 1.07 1.94 0.99 1.05

ROE %

7.91 11.78 7.55 7.39 9.96 5.63 6.72 6.47 9.76 6.03 6.91 6.70 11.59 7.43 8.39 8.44 12.53 6.87 8.33 4.37 3.36 -0.31 -4.10 -0.98 4.06 6.40 8.52 2.51 -2.02 -0.88 -1.89 4.34 2.88 2.97 6.37 6.71 8.45 8.14 7.51 6.71 5.28 7.86 8.81 9.45 11.43 8.58 8.66 8.97 8.92 9.04 8.87 8.40 8.43 7.49 5.37 5.72 5.27 5.99 6.37 6.25 4.19 0.68 0.57

ROA %

2.08 3.40 2.29 2.30 3.24 1.81 2.11 2.05 3.01 1.76 2.02 3.46 3.53 2.29 2.56 2.30 3.63 1.88 2.26 1.20 0.91 -0.08 -1.08 -0.26 1.07 1.69 2.25 0.67 -0.53 -0.23 -0.44 1.19 0.85 0.64 1.38 1.46 1.83 1.77 1.64 1.46 1.15 1.73 2.01 2.17 2.64 2.14 2.18 2.27 2.27 2.35 2.29 2.17 2.17 1.90 1.36 1.44 1.32 1.44 1.54 1.52 1.01 0.17 0.15

ROCE %

10.87 14.10 10.34 9.88 12.03 7.30 9.17 8.91 11.47 7.44 8.73 8.76 12.15 7.96 9.26 9.22 11.39 6.63 8.71 8.30 7.92 5.27 2.84 2.77 6.09 8.05 7.66 3.88 0.80 1.17 4.82 8.99 9.21 9.94 9.47 9.51 9.67 9.35 9.37 9.36 8.81 9.00 8.35 7.67 7.65 6.23 7.30 8.23 8.94 9.62 9.35 8.98 9.08 8.88 7.95 8.14 7.95 8.31 7.82 7.84 3.76 1.20 1.34

DSO

73.7 38.0 54.4 69.0 43.9 - 50.7 63.6 47.4 - 52.1 63.9 45.6 - 24.6 37.1 43.5 - 51.9 62.9 46.8 - 80.0 75.0 46.8 - 83.9 77.4 46.7 - 107.9 95.9 51.0 60.0 89.5 82.8 49.8 59.6 89.7 86.1 47.9 54.9 73.7 68.1 38.9 60.3 108.4 73.1 40.8 57.5 85.2 76.4 49.0 59.4 86.6 79.7 48.6 52.6 73.0 63.5 28.1 - -

DPO

503.1 116.7 329.0 245.8 112.0 - 329.6 331.4 146.2 - 343.9 246.4 91.9 - 91.9 74.7 85.6 - 211.9 206.9 109.5 - 375.6 285.3 123.8 - 309.0 239.7 103.9 - 363.3 257.4 95.1 - 244.4 206.2 96.2 - 225.6 209.5 89.4 - 189.1 158.2 56.1 - 222.7 164.6 55.4 - 232.4 161.7 78.2 - 216.4 205.9 70.8 - 122.8 85.8 26.4 - -

Operating Cycle

- - - 69.0 43.9 - 50.7 63.6 47.4 - 52.1 63.9 45.6 - 24.6 37.1 43.5 - 51.9 62.9 46.8 - 80.0 75.0 46.8 - 83.9 77.4 46.7 - 107.9 95.9 51.0 60.0 89.5 82.8 49.8 59.6 89.7 86.1 47.9 54.9 73.7 68.1 38.9 60.3 108.4 73.1 40.8 57.5 85.2 76.4 49.0 59.4 86.6 79.7 48.6 52.6 73.0 63.5 - - -

Cash Conversion Cycle

- - - -176.8 -68.0 - -278.9 -267.8 -98.8 - -291.8 -182.6 -46.4 - -67.4 -37.7 -42.1 - -160.1 -144.1 -62.6 - -295.6 -210.3 -77.0 - -225.0 -162.3 -57.2 - -255.3 -161.5 -44.1 60.0 -154.9 -123.5 -46.4 59.6 -135.8 -123.4 -41.5 54.9 -115.4 -90.1 -17.2 60.3 -114.3 -91.5 -14.6 57.5 -147.2 -85.3 -29.2 59.4 -129.9 -126.2 -22.2 52.6 -49.8 -22.3 - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company NiSource , allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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