Overview Dividends

(NI) NiSource - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US65473P1057

Natural Gas, Electricity, Utility

Multi-Utilities
Market Cap in USD: 20,415m

IPO / Inception: 1984-10-19
Return 12m vs S&P 500: 3.78%

EPS (Earnings per Share)

EPS CAGR: -17.45%
EPS Trend: 4.5%

Last SUE: -0.33
Qual. Beats: 0

Revenue

Rev. CAGR: -2.66%
Rev. Trend: -2.4%

Last SUE: 1.06
Qual. Beats: 1

Dividends

Dividend Yield	2.54%
Yield on Cost 5y	5.48%
Yield CAGR 5y	5.99%
Payout Consistency	90.3%
Payout Ratio	59.6%

Risk via 10d forecast
Volatility	17.4%
Value at Risk 5%th	29.5%
Relative Tail Risk	3.28%

Reward TTM
Sharpe Ratio	0.74
Alpha	10.73
CAGR/Max DD	1.11

Character TTM
Hurst Exponent	0.320
Beta	0.402
Beta Downside	0.625

Drawdowns 3y
Max DD	19.04%
Mean DD	3.67%
Median DD	3.13%

Description: NI NiSource October 16, 2025

NiSource Inc. (NYSE:NI) is a regulated utility holding company that serves roughly 2.4 million natural-gas customers and 0.5 million electric customers across Ohio, Pennsylvania, Virginia, Kentucky, Maryland, and northern Indiana. The business operates two segments-Columbia Operations and NIPSCO Operations-maintaining about 37,200 mi of gas distribution mains, 330 mi of transmission pipelines, and a diversified generation fleet that includes steam-coal, combined-cycle gas, hydro, wind, and solar assets.

Recent quarterly filings show a dividend yield near 5 % and a credit rating of A- (S&P), reflecting the sector’s stable cash flows but also exposure to declining coal utilization. Capital-expenditure guidance for 2025 targets roughly $1.2 bn, with a strategic emphasis on expanding renewable capacity (wind and solar) to meet state-level clean-energy mandates. A key macro driver is natural-gas price volatility, which can swing earnings by ±10 % given the company’s gas-heavy generation mix.

For a deeper quantitative view of NiSource’s valuation and risk profile, the ValueRay platform offers tools that can help you assess whether the stock aligns with your investment criteria.

Piotroski VR‑10 (Strict, 0-10) 2.5

Net Income (895.6m TTM) > 0 and > 6% of Revenue (6% = 379.6m TTM)

FCFTA -0.02 (>2.0%) and ΔFCFTA 1.60pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -26.63% (prev -35.34%; Δ 8.71pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.06 (>3.0%) and CFO 2.19b > Net Income 895.6m (YES >=105%, WARN >=100%)

Net Debt (15.64b) to EBITDA (2.90b) ratio: 5.39 <= 3.0 (WARN <= 3.5)

Current Ratio 0.52 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (473.7m) change vs 12m ago 4.22% (target <= -2.0% for YES)

Gross Margin 50.59% (prev 51.28%; Δ -0.69pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 19.40% (prev 17.16%; Δ 2.24pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 3.01 (EBITDA TTM 2.90b / Interest Expense TTM 588.7m) >= 6 (WARN >= 3)

Altman Z'' -0.04

(A) -0.05 = (Total Current Assets 1.85b - Total Current Liabilities 3.53b) / Total Assets 34.40b

(B) -0.02 = Retained Earnings (Balance) -572.0m / Total Assets 34.40b

(D) -0.03 = Book Value of Equity -580.2m / Total Liabilities 23.16b

Total Rating: -0.04 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 45.06

1. Piotroski 2.50pt

2. FCF Yield -1.49%

3. FCF Margin -8.46%

4. Debt/Equity 1.73

5. Debt/Ebitda 5.39

6. ROIC - WACC (= 1.55)%

7. RoE 10.07%

8. Rev. Trend -2.39%

9. EPS Trend 4.47%

What is the price of NI shares?

As of November 30, 2025, the stock is trading at USD 44.13 with a total of 1,128,690 shares traded.
Over the past week, the price has changed by +3.16%, over one month by +2.39%, over three months by +5.42% and over the past year by +19.13%.

Is NI a buy, sell or hold?

NiSource has received a consensus analysts rating of 4.47. Therefore, it is recommended to buy NI.

Strong Buy: 11
Buy: 4
Hold: 1
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the NI price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	45.8	3.8%
Analysts Target Price	45.8	3.8%
ValueRay Target Price	53.2	20.6%

NI Fundamental Data Overview November 27, 2025

Market Cap USD = 20.42b (20.42b USD * 1.0 USD.USD)
P/E Trailing = 22.7053
P/E Forward = 21.3675
P/S = 3.2266
P/B = 2.253
P/EG = 2.1384
Beta = 0.63
Revenue TTM = 6.33b USD
EBIT TTM = 1.77b USD
EBITDA TTM = 2.90b USD
Long Term Debt = 14.47b USD (from longTermDebt, last quarter)
Short Term Debt = 1.29b USD (from shortTermDebt, last quarter)
Debt = 15.76b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.64b USD (from netDebt column, last quarter)
Enterprise Value = 36.06b USD (20.42b + Debt 15.76b - CCE 119.5m)
Interest Coverage Ratio = 3.01 (Ebit TTM 1.77b / Interest Expense TTM 588.7m)
FCF Yield = -1.49% (FCF TTM -535.5m / Enterprise Value 36.06b)
FCF Margin = -8.46% (FCF TTM -535.5m / Revenue TTM 6.33b)
Net Margin = 14.15% (Net Income TTM 895.6m / Revenue TTM 6.33b)
Gross Margin = 50.59% ((Revenue TTM 6.33b - Cost of Revenue TTM 3.13b) / Revenue TTM)
Gross Margin QoQ = 53.29% (prev 48.71%)
Tobins Q-Ratio = 1.05 (Enterprise Value 36.06b / Total Assets 34.40b)
Interest Expense / Debt = 1.14% (Interest Expense 179.8m / Debt 15.76b)
Taxrate = 16.14% (20.6m / 127.6m)
NOPAT = 1.49b (EBIT 1.77b * (1 - 16.14%))
Current Ratio = 0.52 (Total Current Assets 1.85b / Total Current Liabilities 3.53b)
Debt / Equity = 1.73 (Debt 15.76b / totalStockholderEquity, last quarter 9.12b)
Debt / EBITDA = 5.39 (Net Debt 15.64b / EBITDA 2.90b)
Debt / FCF = -29.21 (negative FCF - burning cash) (Net Debt 15.64b / FCF TTM -535.5m)
Total Stockholder Equity = 8.90b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.60% (Net Income 895.6m / Total Assets 34.40b)
RoE = 10.07% (Net Income TTM 895.6m / Total Stockholder Equity 8.90b)
RoCE = 7.58% (EBIT 1.77b / Capital Employed (Equity 8.90b + L.T.Debt 14.47b))
RoIC = 6.19% (NOPAT 1.49b / Invested Capital 23.99b)
WACC = 4.65% (E(20.42b)/V(36.18b) * Re(7.50%) + D(15.76b)/V(36.18b) * Rd(1.14%) * (1-Tc(0.16)))
Discount Rate = 7.50% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 2.68%
Fair Price DCF = unknown (Cash Flow -535.5m)
EPS Correlation: 4.47 | EPS CAGR: -17.45% | SUE: -0.33 | # QB: 0
Revenue Correlation: -2.39 | Revenue CAGR: -2.66% | SUE: 1.06 | # QB: 1

Additional Sources for NI Stock

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Fund Manager Positions: Dataroma | Stockcircle