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NiSource Inc (NI) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

UTILITIES · Multi-Utilities · DATA UPDATED 2026-09-19

NiSource Inc (NI) operates in the Multi-Utilities industry and is headquartered in Merrillville, United States with about 7,668 employees. Its market capitalization is roughly $19 billion. In the fiscal year ended 2025-12-31, NI reported $6.6B in revenue and $930M in net income.

NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations.

Interactive charts & full statements → Open the NI valuation workbench →

NI Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$6.9B	$6.6B	$5.5B	$5.5B	$5.9B	$4.9B	$4.7B	$5.2B	$5.1B	$4.9B	$4.5B	$4.7B	$6.5B	$5.7B	$5.1B	$6.0B	$6.4B	$6.6B	$8.9B	$7.9B	$7.5B
Gross Profit	$3.9B	$3.9B	$2.8B	$2.5B	$2.3B	$2.1B	$2.0B	$2.3B	$1.0B	$1.8B	$1.7B	$1.6B	$1.5B	$1.4B	$1.9B	$1.7B	$1.8B	$3.3B	$3.2B	$7.9B	$7.5B
Gross Margin %	56.1%	58.6%	51.5%	45.0%	38.5%	41.9%	42.4%	44.5%	19.6%	36.0%	36.9%	34.0%	23.7%	24.9%	36.6%	29.0%	27.4%	50.1%	36.6%	100.0%	100.0%
Operating Income (EBIT)	$1.9B	$1.8B	$1.5B	$1.3B	$1.3B	$1.0B	$551M	$891M	$125M	$921M	$866M	$800M	$789M	$698M	$1.0B	$914M	$892M	$801M	$919M	$867M	$927M
Operating Margin %	27.1%	27.6%	26.7%	23.5%	21.6%	20.5%	11.8%	17.1%	2.4%	18.9%	19.3%	17.2%	12.2%	12.3%	20.5%	15.2%	13.9%	12.0%	10.4%	10.9%	12.4%
Net Income	$906M	$930M	$760M	$714M	$804M	$585M	($18M)	$383M	($51M)	$128M	$332M	$286M	$530M	$532M	$416M	$299M	$292M	$218M	$79M	$321M	$282M
Net Margin %	13.2%	14.0%	13.9%	13.0%	13.7%	11.9%	-0.4%	7.3%	-1.0%	2.6%	7.4%	6.2%	8.2%	9.4%	8.2%	5.0%	4.5%	3.3%	0.9%	4.0%	3.8%
EBITDA	—	$3.0B	$2.6B	$2.2B	$2.1B	$1.8B	$1.1B	$1.6B	$742M	$1.4B	$1.4B	$1.2B	$1.3B	$1.2B	$1.6B	$1.4B	$1.4B	$1.4B	$1.5B	$1.4B	$1.5B
Earnings Per Share (EPS)	$1.88	$1.96	$1.67	$1.59	$1.82	$1.40	$-0.05	$1.02	$-0.14	$0.39	$1.02	$0.90	$1.67	$1.70	$1.39	$1.04	$1.04	$0.79	$0.29	$1.17	$1.03
Shares Outstanding (M)	—	474M	456M	448M	443M	417M	384M	376M	356M	331M	324M	320M	317M	314M	300M	288M	280M	276M	275M	275M	273M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NI Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$1.3B	$2.4B	$1.9B	$1.3B	$1.3B	$2.2B	$1.6B	$1.1B	$1.1B
Gross Profit	$674M	$1.4B	$1.1B	$678M	$625M	$1.1B	$790M	$553M	$562M
Gross Margin %	50.2%	59.5%	58.1%	53.3%	48.7%	50.7%	49.7%	51.4%	51.8%
Operating Income (EBIT)	$228M	$819M	$516M	$298M	$263M	$759M	$417M	$218M	$237M
Operating Margin %	17.0%	34.7%	27.1%	23.4%	20.5%	34.8%	26.2%	20.3%	21.9%
Net Income	$46M	$507M	$258M	$95M	$102M	$475M	$224M	$86M	$86M
Net Margin %	3.4%	21.5%	13.6%	7.4%	8.0%	21.8%	14.1%	8.0%	7.9%
EBITDA	—	$1.1B	$835M	$614M	$550M	$1.0B	$714M	$517M	$504M
Earnings Per Share (EPS)	$0.09	$1.05	$0.54	$0.20	$0.22	$1.00	$0.48	$0.19	$0.19
Shares Outstanding (M)	—	481M	474M	474M	472M	472M	470M	454M	450M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NI Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.3B	$2.4B	$1.8B	$1.9B	$1.4B	$1.2B	$1.1B	$1.6B	$540M	$742M	$803M	$1.5B	$1.3B	$1.4B	$1.3B	$870M	$720M	$1.7B	$584M	$757M	$1.2B
Capital Expenditures (CapEx)	$3.4B	$2.8B	$2.6B	$2.6B	$2.2B	$1.8B	$1.8B	$1.8B	$1.8B	$1.7B	$1.5B	$1.4B	$2.0B	$1.9B	$1.5B	$1.1B	$804M	$777M	$1.3B	$788M	$637M
Free Cash Flow (FCF)	($1.1B)	($420M)	($862M)	($711M)	($794M)	($620M)	($654M)	($219M)	($1.3B)	($954M)	($672M)	$96M	($709M)	($443M)	($223M)	($255M)	($84M)	$874M	($715M)	($31M)	$519M
FCF Margin %	-15.8%	-6.3%	-15.8%	-12.9%	-13.6%	-12.7%	-14.0%	-4.2%	-25.0%	-19.6%	-15.0%	2.1%	-11.0%	-7.8%	-4.4%	-4.2%	-1.3%	13.1%	-8.1%	-0.4%	6.9%
Dividends Paid	—	$530M	$489M	$457M	$437M	$400M	$377M	$355M	$285M	$229M	$206M	$263M	$321M	$306M	$273M	$258M	$256M	$253M	$252M	$252M	$252M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NI Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$680M	$442M	$713M	$468M	$495M	$686M	$540M	$340M	$446M
Capital Expenditures (CapEx)	$1.1B	$805M	$846M	$640M	$658M	$637M	$789M	$635M	$630M
Free Cash Flow (FCF)	($417M)	($363M)	($134M)	($173M)	($163M)	$49M	($249M)	($295M)	($184M)
FCF Margin %	-31.1%	-15.4%	-7.0%	-13.6%	-12.7%	2.2%	-15.7%	-27.4%	-17.0%
Dividends Paid	—	$149M	$134M	$132M	$132M	$132M	$124M	$119M	$119M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

NI Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$37.5B	$36.6B	$31.8B	$31.1B	$26.7B	$24.2B	$22.0B	$22.7B	$21.8B	$20.0B	$18.7B	$17.5B	$24.9B	$22.7B	$21.8B	$20.7B	$19.9B	$19.3B	$20.0B	$18.0B	$18.2B
Cash & Cash Equivalents	$70M	$136M	$157M	$2.2B	$41M	$84M	$116M	$139M	$113M	$29M	$26M	$16M	$25M	$27M	$36M	$12M	$9M	$16M	$21M	$95M	$176M
Total Liabilities	$25.6B	$24.9B	$21.1B	$20.9B	$18.8B	$16.9B	$16.2B	$16.7B	$16.1B	$15.6B	$14.6B	$13.6B	$18.7B	$16.8B	$16.3B	$15.7B	$15.0B	$14.4B	$15.3B	$12.9B	$13.1B
Total Debt (Short + Long-Term)	$17.4B	$16.0B	$14.0B	$14.1B	$11.3B	$9.8B	$9.6B	$9.6B	$9.1B	$9.0B	$7.9B	$7.0B	$10.0B	$8.8B	$8.1B	$8.0B	$7.4B	$6.8B	$7.6B	$6.7B	$6.4B
Total Shareholders' Equity	$9.6B	$9.4B	$8.7B	$8.3B	$7.6B	$6.9B	$5.8B	$6.0B	$5.8B	$4.3B	$4.1B	$3.8B	$6.2B	$5.9B	$5.6B	$5.0B	$4.9B	$4.9B	$4.7B	$5.1B	$5.0B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive NI viewer.

NI Metric Deep Dives

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