NiSource (NI) valuation
NiSource P/E ratio history
NiSource trades at 22.9 times its earnings over the last twelve months and 20.3 times the earnings analysts expect over the next twelve. At its last 8 fiscal year ends its P/E ranged from 16.1 (year to Dec 2022) to 65.8 (year to Dec 2017), with a median of 21.7.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $41.76 | $1.95 | 21.4 | 21.0 |
| Dec 31, 2024 | $36.76 | $1.62 | 22.7 | 20.1 |
| Dec 31, 2023 | $26.55 | $1.48 | 17.9 | 15.8 |
| Dec 31, 2022 | $27.42 | $1.70 | 16.1 | 18.1 |
| Dec 31, 2021 | $27.61 | $1.27 | 21.7 | 19.6 |
| Dec 31, 2020 | $22.94 | -$0.20 | n/m | — |
| Dec 31, 2019 | $27.84 | $0.87 | 32.0 | — |
| Dec 31, 2018 | $25.35 | — | n/m | — |
| Dec 31, 2017 | $25.67 | $0.39 | 65.8 | — |
| Dec 31, 2016 | $22.14 | $1.02 | 21.7 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
NiSource valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| NiSourceNI | $21.4B | 22.9 | 20.3 | 3.1 |
| CMS EnergyCMS | $22.0B | 21.1 | 17.2 | 2.5 |
| CenterPoint EnergyCNP | $28.0B | 24.3 | 20.7 | 2.9 |
| DTE EnergyDTE | $28.2B | 21.4 | 16.9 | 1.7 |
| AmerenAEE | $30.6B | 19.5 | 19.7 | 3.5 |
| PG&EPCG | $35.3B | 9.6 | 7.5 | 1.4 |
| Pinnacle West CapitalPNW | $12.9B | 20.4 | 20.5 | 2.3 |
| Consolidated EdisonED | $43.0B | 19.2 | 18.5 | 2.4 |
| Xcel EnergyXEL | $49.8B | 18.6 | 18.0 | 3.4 |
| Peer median | 19.9 | 18.3 | 2.4 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: NI financials · 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.