Nisource Inc. (NI) Financial Statements
Industry: Electric & Other Services Combined
In fiscal 2025, Nisource reported revenue of $6.52B, up 23.5% from $5.28B the year before. Net income was $929.5M (a 14.3% net margin), or $1.95 per diluted share. Gross margin was 100.0% and operating margin was 28.1%. Operating activities generated $2.36B of cash, leaving -$420.0M of free cash flow. At fiscal year end, Nisource held $35.86B in total assets against $26.41B in total liabilities, including $110.1M of cash and equivalents.
Open the full interactive Nisource financials → Quarterly statements, key ratios, valuation history and price charts.
Nisource Key Stats
| Share Price | $41.49 |
|---|---|
| Market Cap | $19.96B |
| P/E Ratio | 21.3 |
| Revenue YoY Growth | +23.5% |
| 52-Week Range | $39.00 – $48.75 |
| Shares Outstanding | 479.7 million (basic, 2026 Q2) |
Nisource Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $4.47B | $4.73B | $5.74B | $5.35B | $5.28B | $6.52B |
| Cost of Goods Sold | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $4.47B | $4.73B | $5.74B | $5.35B | $5.28B | $6.52B |
| Operating Income | $550.8M | $1.01B | $1.27B | $1.30B | $1.46B | $1.84B |
| Pre-Tax Income | -$34.7M | $702.7M | $968.7M | $853.8M | $918.5M | $1.13B |
| Income Tax | -$17.1M | $117.8M | $164.6M | $139.5M | $158.1M | $203.8M |
| Net Income | -$17.6M | $584.9M | $804.1M | $714.3M | $760.4M | $929.5M |
| Diluted EPS | -$0.19 | $1.27 | $1.70 | $1.48 | $1.62 | $1.95 |
Nisource Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $1.24B | $1.89B | $2.32B | $1.29B |
| Net Income | $94.7M | $257.8M | $507.1M | $45.5M |
| Diluted EPS | $0.20 | $0.54 | $1.06 | $0.09 |
Nisource Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $116.5M | $84.2M | $40.8M | $2.25B | $156.6M | $110.1M |
| Current Assets | $1.66B | $1.92B | $2.58B | $4.50B | $2.08B | $2.38B |
| Total Assets | $22.04B | $24.16B | $26.74B | $31.08B | $31.79B | $35.86B |
| Current Liabilities | $2.28B | $2.75B | $4.66B | $5.27B | $4.11B | $3.46B |
| Total Long-Term Debt | $9.24B | $9.24B | $9.55B | $11.08B | $13.36B | $15.48B |
| Total Liabilities | $16.29B | $17.21B | $19.16B | $22.81B | $23.10B | $26.41B |
| Shareholders' Equity | $5.75B | $6.95B | $7.58B | $8.27B | $8.68B | $9.45B |
Nisource Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $1.10B | $1.22B | $1.41B | $1.94B | $1.78B | $2.36B |
| Cash From Investing | -$879.1M | -$2.20B | -$2.57B | -$3.57B | -$3.21B | -$4.52B |
| Cash From Financing | -$247.7M | $956.3M | $1.14B | $3.84B | -$651.0M | $2.10B |
| Free Cash Flow | -$654.1M | -$620.1M | -$793.7M | -$710.7M | -$832.5M | -$420.0M |
Figures from Nisource's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Nisource financials page for every line item.
Nisource Company Profile
| Ticker | NI |
|---|---|
| Exchange | NYSE |
| Industry | Electric & Other Services Combined |
| Headquarters | Merrillville, Indiana |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001111711 |
Frequently Asked Questions
What was Nisource's revenue in fiscal 2025?
Nisource (NI) reported revenue of $6.52B for fiscal 2025.
What is Nisource's annual revenue history?
Nisource's annual revenue by fiscal year: 2020: $4.47B; 2021: $4.73B; 2022: $5.74B; 2023: $5.35B; 2024: $5.28B; 2025: $6.52B.
What was Nisource's net income in fiscal 2025?
Nisource reported net income of $929.5M for fiscal 2025.
What was Nisource's earnings per share (EPS) in fiscal 2025?
Nisource's diluted EPS was $1.95 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Nisource generate in fiscal 2025?
Nisource generated -$420.0M of free cash flow in fiscal 2025.
What was Nisource's revenue last quarter?
In its most recent reported quarter (2026 Q2), Nisource reported revenue of $1.29B.
How much debt does Nisource have?
Nisource reported $15.48B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Nisource are outstanding?
Nisource reported a weighted average of 479.7 million basic shares outstanding in 2026 Q2.
What is Nisource's market cap?
Based on its latest closing price, Nisource (NI) has a market capitalization of about $19.96B.
When does Nisource's fiscal year end?
Nisource's fiscal year end, as registered with the SEC, is December 31.
Where is Nisource headquartered?
Nisource lists its business address in Merrillville, Indiana in its SEC filings.