NiSource (NI) financials
NiSource revenue and earnings by year
NiSource's revenue was $6.64 billion in the fiscal year to December 31, 2025, up 21.8% from the year before. Net income was $930 million, 14.0% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 4.4% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6.64 | 5.46 | 5.51 | 5.85 | 4.90 | 4.68 | 5.21 | 5.11 | 4.87 | 4.49 |
| Revenue growth | 21.8% | -0.9% | -5.9% | 19.4% | 4.7% | -10.1% | 1.8% | 4.9% | 8.5% | — |
| Gross profit | 5.06 | 4.32 | 3.97 | 3.74 | 3.51 | 3.57 | 3.67 | 3.35 | 3.36 | 3.10 |
| Gross margin | 76.1% | 79.2% | 72.1% | 63.9% | 71.6% | 76.3% | 70.5% | 65.6% | 68.8% | 69.1% |
| Operating income | 1.84 | 1.46 | 1.30 | 1.27 | 1.01 | 0.55 | 0.89 | 0.12 | 0.92 | 0.87 |
| Operating margin | 27.6% | 26.7% | 23.5% | 21.6% | 20.6% | 11.8% | 17.1% | 2.4% | 18.9% | 19.3% |
| Net income | 0.93 | 0.76 | 0.71 | 0.80 | 0.58 | -0.02 | 0.38 | -0.05 | 0.13 | 0.33 |
| Net margin | 14.0% | 13.9% | 13.0% | 13.7% | 11.9% | -0.4% | 7.4% | -1.0% | 2.6% | 7.4% |
| Diluted EPS | $1.95 | $1.62 | $1.48 | $1.70 | $1.27 | -$0.20 | $0.87 | — | $0.39 | $1.02 |
| Free cash flow | -0.79 | -0.86 | -0.71 | -0.79 | -0.62 | -0.65 | -0.22 | -1.28 | -0.95 | -0.67 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open NI in Markets.
How NiSource makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| NIPSCO Operations | $796M | 61.2% |
| Columbia Operations | $493M | 37.9% |
| Corporate | $10.5M | 0.8% |
| NIPSCO | $1.60M | 0.1% |
See also: NI valuation and P/E history · NI returns
No forecast, no recommendation. This page describes NiSource from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.