Company financials

NiSource

Utilities Multi-Utilities Merrillville, Indiana Last filing Feb 11, 2026 · FY2025

                    Revenue
                    FY2022
                
$5.7B
                    
                    +21.3%
                    
                    Net income
                    FY2025
                
$929.5M
                    
                    +22.2%
                    
                    Total assets
                    FY2025
                
$35.9B
                    ROA +2.6%
                    
                    P45
                    
                    +12.8%
                    
                    Operating cash flow
                    FY2025
                
$2.4B
                    
                    +32.6%

18 yrs · FY2008–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

22 accounts · 5 years

Total assets $35.9B

Total liabilities ~$26.4B

Shareholders equity $9.5B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	—	—	—	0.7%	1.8%
Accounts Receivable	—	—	—	20.4%	19.6%
Other Current Assets	—	—	—	23.9%	19.3%
Total Current Assets	—	—	—	45.0%	40.6%
Property,Plant and Equipment	—	—	—	345.8%	377.9%
Regulatory Assets	—	—	—	40.9%	48.3%
Other Noncurrent Assets	—	—	—	34.2%	43.7%
Total Assets	—	—	—	465.9%	510.6%
Liabilities
Current Portion of Long Term Debt	—	—	—	31.2%	13.1%
Other Current Liabilities	—	—	—	50.0%	45.0%
Total Current Liabilities	—	—	—	81.2%	58.0%
Long Term Debt	—	—	—	166.0%	194.1%
Regulatory Liabilities	—	—	—	30.9%	38.9%
Other Noncurrent Liabilities	—	—	—	50.1%	65.8%
Equity
Total Stockholders Equity	—	—	—	132.0%	146.8%
Common Stock	—	—	—	0.1%	0.1%
Additional Paid In Capital	—	—	—	128.5%	152.3%
Retained Earnings	—	—	—	-21.1%	-33.4%
Treasury Stock	—	—	—	1.7%	2.1%
Accumulated Other Comprehensive Income	—	—	—	-0.6%	-2.7%
Noncontrolling Interest	—	—	—	5.7%	6.9%
Total Liabilitiesand Equity	—	—	—	465.9%	510.6%

Income Statement

Revenue, expense, and profitability

6 accounts · 5 years

Revenue $5.7B

Operating income $1.3B

Net income $929.5M

Account	2025	2024	2023	2022	2021
IncomeStatement
Income Tax Income Tax Expense	—	—	—	2.9%	2.5%
net Income Other Items Below Tax	—	—	—	-0.7%	-1.2%
net Income net Income	—	—	—	14.0%	12.4%
Earnings Per Share Basic Eps	—	—	—	0.0%	0.0%
Earnings Per Share Diluted Eps	—	—	—	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	—	—	—	7.7%	8.8%

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 5 years

Operating cash flow $2.4B

Investing cash flow $-4.5B

Financing cash flow $2.1B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Cash From Operating Activities	—	—	—	24.6%	25.7%
Operating Activities net Income	—	—	—	13.8%	12.4%
Operating Activities Depreciation and Amortization	—	—	—	14.3%	15.8%
Operating Activities Stock Based Compensation	—	—	—	0.4%	0.5%
Operating Activities Other Non Cash Items	—	—	—	-4.0%	-3.0%
Investing Activities Capital Expenditures	—	—	—	-44.0%	-43.9%
Investing Activities Other Investing Activities	—	—	—	-0.8%	-2.7%
Investing Activities net Cash From Investing Activities	—	—	—	-44.8%	-46.6%
Financing Activities Proceeds From Debt	—	—	—	23.4%	0.0%
Financing Activities Repayment of Debt	—	—	—	-1.1%	-0.5%
Financing Activities Dividends Paid	—	—	—	-7.6%	-8.5%
Financing Activities Other Financing Activities	—	—	—	5.1%	29.2%
Financing Activities net Cash From Financing Activities	—	—	—	19.9%	20.2%
Cash Reconciliation net Change In Cash	—	—	—	-0.3%	-0.6%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	+63.2%	+70.6%
Operating margin	—	—	—	+22.1%	+21.3%
Net margin	—	—	—	+14.0%	+12.4%
FCF margin	—	—	—	-19.5%	-18.2%
Growth
Revenue CAGR (3y)	—	—	—	+4.3%	-1.8%
Returns
ROE	+9.8%	+8.8%	+8.6%	+10.6%	+8.4%
ROA	+2.6%	+2.4%	+2.3%	+3.0%	+2.4%
ROIC	—	—	—	+5.6%	+5.0%
Liquidity
Current ratio	0.69x	0.51x	0.85x	0.55x	0.70x
Quick ratio	0.40x	0.28x	0.60x	0.26x	0.37x
Leverage
D/E	2.79x	2.66x	2.76x	2.53x	2.48x
Interest coverage	—	—	—	3.50x	2.95x
Efficiency
Asset turnover	—	—	—	0.21x	0.20x
Cash conversion cycle	—	—	—	—	—

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NiSource

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