NiSource Inc (NI) reported $11.43B of revenue for the twelve months ended Sep 30, 2026. That is up 15.3% from the year before. Revenue for fiscal 2025 was $6.52B.

Yes. NiSource Inc earned $939.90M in net income for the twelve months ended Sep 30, 2026, a net margin of 8.2%.

How much cash and debt does NI have?

NiSource Inc reported $57.50M in cash and cash equivalents and $17.16B of debt on its most recent balance sheet in SEC filings.

How fast is NI revenue growing?

NiSource Inc's revenue changed +23.5% in fiscal 2025, to $6.52B. Its compound annual growth rate was +7.8% over 5 years and +3.4% over 10 years.

What is NI free cash flow?

NiSource Inc generated -$1.57B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.38B less capital expenditures.

What is NI earnings per share?

Diluted earnings per share were $1.95 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did NI last report financial results?

The latest statements here come from NiSource Inc's 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.

Where does this NI financial data come from?

Quantisnow builds these statements from the structured XBRL data NiSource Inc files with the SEC. It is provided for information only and is not investment advice.

Financials · NI

NiSource Inc (NI) financials

For the twelve months ended Sep 30, 2026, NiSource Inc reported $11.43B of revenue and $939.90M of net income.

Revenue, TTM: $11.43B
Revenue growth, YoY: +15.3%
Net income, TTM: $939.90M
Net income growth, YoY: +4.9%
Net margin: 8.2%
Free cash flow, TTM: -$1.57B
EPS, diluted, TTM: $1.95
EPS growth, YoY: +3.2%
Cash: $57.50M
Total debt: $17.16B
P/E: 22.53
P/S: 1.85
Market cap: $21.17B

Annual revenue$6.52B

FY2016FY2025

Annual net income$929.50M

FY2016FY2025

Annual free cash flow-$420.00M

FY2016FY2025

NI revenue and earnings growth

NI revenueQ3 2026$1.30B

Quarter YoY: +4.7%
QoQ: +0.7%
FY YoY: +23.5%
5Y CAGR: +7.8%
10Y CAGR: +3.4%

NI revenue was $1.30B in fiscal Q3 2026 (ended Sep 30, 2026), up 4.7% from a year earlier and up 0.7% from the prior quarter. For the full fiscal 2025 it was $6.52B, up 23.5% from fiscal 2024. Compound annual growth was +7.8% over 5 years and +3.4% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

NI net incomeQ3 2026$129.50M

Quarter YoY: +36.7%
QoQ: +184.6%
FY YoY: +22.2%
10Y CAGR: +12.5%

NI net income was $129.50M in fiscal Q3 2026 (ended Sep 30, 2026), up 36.7% from a year earlier and up 184.6% from the prior quarter. For the full fiscal 2025 it was $929.50M, up 22.2% from fiscal 2024. Compound annual growth was +12.5% over 10 years. It rose in 3 of the last 4 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

NI EPSQ3 2026$0.27

Quarter YoY: +35.0%
QoQ: +200.0%
FY YoY: +20.4%
10Y CAGR: +8.0%

NI diluted EPS was $0.27 in fiscal Q3 2026 (ended Sep 30, 2026), up 35.0% from a year earlier and up 200.0% from the prior quarter. For the full fiscal 2025 it was $1.95, up 20.4% from fiscal 2024. Compound annual growth was +8.0% over 10 years.

NI free cash flowQ3 2026-$653.10M

NI free cash flow was -$653.10M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$172.60M a year earlier. For the full fiscal 2025 it was -$420.00M, compared with -$832.50M in fiscal 2024.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$6.52B	$5.28B	$5.35B	$5.74B	$4.73B	$4.47B	$5.05B	$4.99B	$4.73B	$4.39B
Cost of revenue	-	-	-	-	-	-	$1.53B	$1.76B	$1.52B	$1.39B
Gross profit	-	-	-	-	-	-	$5.21B	$5.11B	$4.87B	$4.49B
Operating income	$1.84B	$1.46B	$1.30B	$1.27B	$1.01B	$550.80M	$890.70M	$124.70M	$921.20M	$866.10M
Interest expense	$639.00M	$517.20M	$489.60M	$361.60M	$341.10M	$370.70M	$378.90M	$353.30M	$353.20M	$349.50M
Income tax	$203.80M	$158.10M	$139.50M	$164.60M	$117.80M	-$17.10M	$123.50M	-$180.00M	$314.50M	$182.10M
Net income	$929.50M	$760.40M	$714.30M	$804.10M	$584.90M	-$17.60M	$383.10M	-$50.60M	$128.50M	$331.50M
EPS, basic	$1.96	$1.63	$1.59	$1.84	$1.35	-$0.19	$0.88	-$0.18	$0.39	$1.03
EPS, diluted	$1.95	$1.62	$1.48	$1.70	$1.27	-$0.19	$0.87	-$0.18	$0.39	$1.02
Diluted shares	474.5M	456.0M	447.9M	442.7M	417.3M	384.3M	376.0M	356.5M	330.8M	323.5M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$110.10M	$198.60M	$2.25B	$75.40M	$94.90M	$125.60M	$148.40M	$121.10M	$38.40M	$36.00M
Receivables	$1.20B	$964.20M	$862.00M	$1.04B	$825.60M	$791.30M	$856.90M	$1.06B	$898.90M	$847.00M
Current assets	$2.38B	$2.08B	$4.50B	$2.58B	$1.92B	$1.66B	$1.85B	$2.06B	$1.76B	$1.76B
Goodwill	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.69B	$1.69B	$1.69B
Total assets	$35.86B	$31.79B	$31.08B	$26.74B	$24.16B	$22.04B	$22.66B	$21.80B	$19.96B	$18.69B
Current liabilities	$3.46B	$4.11B	$5.27B	$4.66B	$2.75B	$2.28B	$3.75B	$4.04B	$3.18B	$3.45B
Short-term debt	$736.00M	$1.28B	$23.80M	$1.76B	$560.00M	$503.00M	$1.77B	$1.98B	$1.21B	$1.49B
Long-term debt	$15.46B	$12.07B	$11.06B	$9.52B	$9.18B	$9.22B	$7.86B	$7.11B	$7.51B	$6.06B
Total debt	$16.19B	$13.36B	$11.08B	$11.29B	$9.74B	$9.72B	$9.63B	$9.08B	$8.72B	$7.55B
Total liabilities	$24.20B	$21.12B	$20.94B	$18.83B	$16.88B	$16.20B	$16.67B	$16.05B	$15.64B	-
Shareholders' equity	$9.45B	$10.67B	$10.14B	$7.90B	$7.27B	$5.84B	$5.99B	$5.75B	$4.32B	$4.07B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$2.36B	$1.78B	$1.94B	$1.41B	$1.22B	$1.10B	$1.58B	$540.10M	$742.20M	$803.30M
Capital expenditures	$2.78B	$2.61B	$2.65B	$2.20B	$1.84B	$1.76B	$1.80B	$1.82B	$1.70B	$1.48B
Free cash flow	-$420.00M	-$832.50M	-$710.70M	-$793.70M	-$620.10M	-$654.10M	-$219.10M	-$1.28B	-$953.60M	-$671.90M
Investing cash flow	-$4.52B	-$3.21B	-$3.57B	-$2.57B	-$2.20B	-$879.10M	-$1.92B	-$1.93B	-$1.81B	-$1.60B
Financing cash flow	$2.10B	-$651.00M	$3.84B	$1.14B	$956.30M	-$247.70M	$366.40M	$1.47B	$1.07B	$790.50M
Dividends paid	$530.40M	$481.00M	$413.50M	$381.50M	$345.20M	$321.60M	$298.50M	$273.30M	$229.10M	$205.50M
Share repurchases	-	-	-	-	-	$0	$0	$4.00M	$7.20M	$9.40M
Stock-based compensation	$50.90M	$43.60M	$33.50M	$24.90M	$24.30M	$17.40M	$25.90M	$28.60M	$40.10M	$46.50M
Depreciation and amortization	$1.17B	$1.04B	$908.20M	$820.80M	$748.40M	$725.90M	$717.40M	$599.60M	$570.30M	$547.10M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	23.5%	-1.2%	-6.8%	21.3%	5.8%	-11.5%	1.2%	5.5%	7.7%	-5.6%
Net income growth, YoY	22.2%	6.5%	-11.2%	37.5%	-	-	-	-	-61.2%	15.7%
EPS growth, YoY	20.4%	9.5%	-12.9%	33.9%	-	-	-	-	-61.8%	13.3%
Gross margin	-	-	-	-	-	-	103.1%	102.5%	103.1%	102.3%
Operating margin	28.1%	27.6%	24.2%	22.1%	21.3%	12.3%	17.6%	2.5%	19.5%	19.7%
Net margin	14.3%	14.4%	13.4%	14.0%	12.4%	-0.4%	7.6%	-1.0%	2.7%	7.5%
Free cash flow margin	-6.4%	-15.8%	-13.3%	-13.8%	-13.1%	-14.6%	-4.3%	-25.6%	-20.2%	-15.3%
Return on equity	9.8%	7.1%	7.0%	10.2%	8.0%	-0.3%	6.4%	-0.9%	3.0%	8.1%
Return on assets	2.6%	2.4%	2.3%	3.0%	2.4%	-0.1%	1.7%	-0.2%	0.6%	1.8%
Current ratio	0.69	0.51	0.85	0.55	0.70	0.73	0.49	0.51	0.55	0.51
Debt to equity	1.71	1.25	1.09	1.43	1.34	1.67	1.61	1.58	2.02	1.85

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$1.30B	$1.29B	$2.32B	$6.52B	$1.24B	$1.25B	$2.15B	$5.28B	$1.05B	$1.05B	$1.64B	$1.26B
Operating income	$340.30M	$228.10M	$819.20M	$515.50M	$297.50M	$262.90M	$759.40M	$416.80M	$218.30M	$237.00M	$583.40M	$362.60M
Interest expense	$210.50M	$199.20M	$191.60M	$187.30M	$179.80M	$139.10M	$132.80M	$137.00M	$134.60M	$129.30M	$116.30M	$141.00M
Income tax	$13.10M	$10.20M	$85.80M	$53.70M	$20.60M	$23.80M	$105.70M	$48.60M	$15.90M	$17.60M	$76.00M	$35.80M
Net income	$129.50M	$45.50M	$507.10M	$257.80M	$94.70M	$102.20M	$474.80M	$223.90M	$85.70M	$85.80M	$365.00M	$237.40M
EPS, basic	$0.27	$0.10	$1.06	$0.53	$0.20	$0.22	$1.01	$0.48	$0.19	$0.19	$0.77	$0.53
EPS, diluted	$0.27	$0.09	$1.06	$0.53	$0.20	$0.22	$1.00	$0.47	$0.19	$0.19	$0.77	$0.51
Diluted shares	481.1M	481.2M	480.9M	-	473.7M	472.1M	472.5M	-	454.5M	450.2M	449.4M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$57.50M	$70.00M	$71.90M	$110.10M	$119.50M	$365.60M	$303.70M	$198.60M	$158.80M	$135.90M	$140.50M	$2.25B
Receivables	$828.20M	$846.50M	$1.24B	$1.20B	$701.00M	$778.60M	$1.11B	$964.20M	$572.00M	$624.00M	$845.60M	$862.00M
Current assets	$2.36B	$2.20B	$2.41B	$2.38B	$1.85B	$2.00B	$2.18B	$2.08B	$1.62B	$1.94B	$2.06B	$4.50B
Goodwill	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B	$1.49B
Total assets	$38.87B	$37.54B	$36.60B	$35.86B	$34.40B	$34.03B	$33.11B	$31.79B	$30.83B	$29.90B	$29.34B	$31.08B
Current liabilities	$4.77B	$4.41B	$3.73B	$3.46B	$3.53B	$3.41B	$4.24B	$4.11B	$3.49B	$2.51B	$3.13B	$5.27B
Short-term debt	$780.00M	$692.00M	$1.29B	$736.00M	$1.26B	$0	$771.00M	$1.28B	$257.00M	$644.00M	$1.22B	$23.80M
Long-term debt	$16.38B	$15.61B	$15.46B	$15.46B	$14.47B	$14.47B	$12.83B	$12.07B	$12.09B	$12.81B	$11.72B	$11.06B
Total debt	$17.16B	$16.30B	$16.75B	$16.19B	$15.73B	$14.47B	$13.60B	$13.36B	$12.34B	$13.45B	$12.95B	$11.08B
Total liabilities	$26.91B	$25.65B	$24.67B	$24.20B	$23.16B	$23.03B	$22.16B	$21.12B	$20.50B	$20.08B	$19.54B	$20.94B
Shareholders' equity	$9.57B	$11.89B	$11.93B	$9.45B	$11.24B	$11.00B	$10.95B	$10.67B	$10.33B	$9.82B	$9.79B	$10.14B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$546.80M	$680.40M	$442.30M	$712.60M	$467.90M	$495.40M	$686.40M	$539.80M	$340.00M	$445.50M	$456.20M	$399.20M
Capital expenditures	$1.20B	$1.10B	$805.20M	$846.30M	$640.50M	$658.20M	$637.30M	$760.00M	$634.70M	$629.80M	$589.50M	$760.20M
Free cash flow	-$653.10M	-$417.00M	-$362.90M	-$133.70M	-$172.60M	-$162.80M	$49.10M	-$220.20M	-$294.70M	-$184.30M	-$133.30M	-$361.00M
Investing cash flow	-$1.30B	-$1.23B	-$872.60M	-$1.13B	-$830.30M	-$1.21B	-$1.35B	-$798.50M	-$820.50M	-$871.00M	-$723.00M	-$1.07B
Financing cash flow	$736.10M	$552.10M	$391.70M	$431.10M	$116.30M	$780.10M	$771.40M	$298.50M	$503.40M	$420.90M	-$1.87B	$2.84B
Dividends paid	$144.20M	$144.30M	$149.00M	$134.00M	$132.20M	$132.20M	$132.00M	$124.00M	$119.10M	$119.30M	$118.60M	$103.40M
Depreciation and amortization	$337.80M	$362.20M	$288.30M	$315.40M	$306.90M	$286.70M	$258.60M	$278.10M	$269.50M	$253.50M	$242.10M	$257.30M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	4.7%	3.4%	8.0%	23.5%	18.6%	18.3%	30.8%	317.8%	1.8%	-3.3%	-16.4%	-20.6%
Net income growth, YoY	36.7%	-55.5%	6.8%	15.1%	10.5%	19.1%	30.1%	-5.7%	0.7%	45.9%	9.6%	-2.9%
EPS growth, YoY	35.0%	-59.1%	6.0%	12.8%	5.3%	15.8%	29.9%	-7.8%	11.8%	111.1%	8.5%	-1.9%
Operating margin	26.2%	17.7%	35.3%	7.9%	24.0%	21.1%	35.3%	7.9%	20.9%	22.5%	35.5%	28.7%
Net margin	10.0%	3.5%	21.8%	4.0%	7.6%	8.2%	22.1%	4.2%	8.2%	8.1%	22.2%	18.8%
Free cash flow margin	-50.3%	-32.3%	-15.6%	-2.0%	-13.9%	-13.1%	2.3%	-4.2%	-28.2%	-17.5%	-8.1%	-28.6%
Current ratio	0.50	0.50	0.65	0.69	0.52	0.59	0.52	0.51	0.46	0.78	0.66	0.85
Debt to equity	1.79	1.37	1.40	1.71	1.40	1.32	1.24	1.25	1.20	1.37	1.32	1.09

Source: XBRL data NiSource Inc files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NI peers

Company	Revenue	Growth	Net income	Net margin	Market cap
NI	$11.43B	+15.3%	$939.90M	8.2%	$21.17B
DUKDuke Energy Corporation (Holding Company)	$33.17B	+7.2%	$5.14B	15.5%	$99.63B
XELXcel Energy Inc.	$14.87B	+4.5%	$2.67B	17.9%	$51.13B
EXCExelon Corporation	$24.79B	+4.6%	$2.78B	11.2%	$47.21B
EDConsolidated Edison Inc.	$18.23B	+8.7%	$2.29B	12.6%	$43.85B
WECWEC Energy Group Inc.	$10.32B	+8.1%	$1.81B	17.5%	$38.12B
PEGPublic Service Enterprise Group Incorporated	$13.03B	+15.3%	$2.01B	15.4%	$36.20B
PCGPacific Gas & Electric Co.	$25.84B	+5.7%	$3.08B	11.9%	$34.75B
AEEAmeren Corporation	$8.75B	+3.8%	$1.56B	17.9%	$31.24B

NI FAQ

8 questions

What is NI revenue?
NiSource Inc (NI) reported $11.43B of revenue for the twelve months ended Sep 30, 2026. That is up 15.3% from the year before. Revenue for fiscal 2025 was $6.52B.
Is NI profitable?
Yes. NiSource Inc earned $939.90M in net income for the twelve months ended Sep 30, 2026, a net margin of 8.2%.
How much cash and debt does NI have?
NiSource Inc reported $57.50M in cash and cash equivalents and $17.16B of debt on its most recent balance sheet in SEC filings.
How fast is NI revenue growing?
NiSource Inc's revenue changed +23.5% in fiscal 2025, to $6.52B. Its compound annual growth rate was +7.8% over 5 years and +3.4% over 10 years.
What is NI free cash flow?
NiSource Inc generated -$1.57B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $2.38B less capital expenditures.
What is NI earnings per share?
Diluted earnings per share were $1.95 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did NI last report financial results?
The latest statements here come from NiSource Inc's 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
Where does this NI financial data come from?
Quantisnow builds these statements from the structured XBRL data NiSource Inc files with the SEC. It is provided for information only and is not investment advice.