US · NI
NiSource Inc.
- Sector
- Utilities · Regulated Gas
- Headquarters
- Merrillville, IN 46410
- Website
- nisource.com
Price · as of 2025-12-31
$48.08
Market cap 22.63B
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $31.27 | -34.96% |
| Intrinsic Value(DCF) | $31.01 | -35.5% |
| Graham-Dodd Method(GD) | $9.85 | -79.52% |
| Graham Formula(GF) | $56.97 | +18.48% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $6.08 | $3.91 | $3.92 | $0.00 | $2.35 |
| 2012 | $7.41 | $6.69 | $5.43 | $0.00 | $0.00 |
| 2013 | $9.38 | $9.36 | $4.31 | $0.94 | $33.07 |
| 2014 | $11.43 | $11.32 | $4.16 | $1.08 | $36.84 |
| 2015 | $16.54 | $10.57 | $0.20 | $0.00 | $0.00 |
| 2016 | $17.46 | $9.89 | $6.91 | $2.97 | $5.03 |
| 2017 | $17.68 | $8.91 | $2.85 | $0.00 | $6.38 |
| 2018 | $21.78 | $8.71 | $3.30 | $0.00 | $0.00 |
| 2019 | $24.07 | $11.84 | $4.86 | $2.93 | $10.07 |
| 2020 | $19.08 | $9.61 | $3.05 | $0.00 | $0.07 |
| 2021 | $26.09 | $28.70 | $1.21 | $6.05 | $18.62 |
| 2022 | $24.21 | $27.83 | $6.37 | $8.75 | $52.71 |
| 2023 | $25.43 | $20.92 | $13.43 | $8.40 | $4.11 |
| 2024 | $37.47 | $22.24 | $7.02 | $8.06 | $12.01 |
| 2025 | $47.05 | $31.27 | $6.02 | $9.85 | $56.97 |
AI valuation
Our deep-learning model estimates NiSource Inc.'s (NI) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $31.27
- Current price
- $48.08
- AI upside
- -34.96%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$31.01
-35.5% upside
Graham-Dodd
$9.85
-79.52% upside
Graham Formula
$56.97
+18.48% upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| NI | NiSource Inc. | $48.08 | 22.63B | -35% | -36% | -80% | +18% | 24.00 | 2.35 | 3.35 | 12.77 | 117.84 | 2.79 | 58.57% | 27.63% | 13.99% | 10.22% | 6.36% | 2.71% | 1.72 | 2.87 | 0.69 | 0.40 | 5.36 | 2037.00% | 2176.00% | -5125.00% | -1.89% | 0.68 | -1.75% | 2.38% | 57.20% | 2.38% | 20.90 | -91.32 | 5.77 | 0.84 |
| ATO | Atmos Energy Corporation | $186.79 | 30.9B | -29% | -64% | -65% | -17% | 22.59 | 2.00 | 5.76 | 15.17 | 244.86 | 2.12 | 52.37% | 33.17% | 25.49% | 9.32% | 5.93% | 4.43% | 0.69 | 9.09 | 0.67 | 0.43 | 3.82 | 922.00% | 1291.00% | 2564.00% | -5.58% | 1.50 | -7.09% | 2.05% | 46.20% | 2.05% | 23.19 | -23.93 | 7.69 | 1.62 |
| CMS | CMS Energy Corporation | $78.07 | 23.92B | -12% | -57% | -81% | -4% | 21.91 | 2.57 | 2.75 | 13.11 | 364.84 | 2.57 | 60.91% | 20.22% | 12.54% | 12.33% | 5.31% | 2.81% | 2.07 | 2.19 | 0.98 | 0.55 | 5.75 | 601.00% | 1363.00% | 14522.00% | -6.77% | 0.63 | -6.09% | 2.83% | 61.90% | 2.83% | 24.20 | -26.30 | 4.89 | 0.89 |
| EBR | AXIA Energia S.A. | $9.20 | 20.68B | -31% | -63% | +38% | +48% | 7.73 | 0.66 | 2.00 | 6.20 | 7.07 | 1.84 | 54.14% | 48.80% | 25.83% | 8.86% | 11.62% | 3.73% | 0.64 | 3.21 | 2.04 | 1.13 | 2.49 | 10930.00% | 813.00% | 12529.00% | 11.58% | 0.39 | 5.63% | 1.63% | 12.60% | 1.77% | 6.56 | 13.85 | 3.20 | 1.00 |
| EIX | Edison International | $74.74 | 28.76B | +43% | +25% | -32% | +177% | 6.09 | 1.63 | 1.48 | 8.62 | 2.45 | 1.63 | 57.83% | 36.72% | 23.59% | 28.37% | 9.72% | 5.23% | 2.42 | 4.61 | 0.73 | 0.27 | 5.15 | 24894.00% | 976.00% | 317.00% | -2.50% | 0.55 | -1.26% | 4.81% | 29.30% | 10.73% | 10.02 | -99.42 | 3.68 | 0.81 |
| EVRG | Evergy, Inc. | $83.66 | 19.27B | -22% | -58% | -85% | -57% | 22.63 | 1.89 | 3.27 | 12.73 | — | 2.46 | 32.28% | 25.19% | 14.45% | 8.48% | 5.81% | 2.53% | 1.51 | 2.42 | 0.49 | 0.18 | 5.64 | -343.00% | 165.00% | 11301.00% | -3.88% | 0.55 | -3.03% | 3.17% | 71.70% | 3.17% | 23.32 | -46.26 | 5.87 | 0.82 |
| FTS | Fortis Inc. | $57.50 | 29.18B | -31% | -56% | -83% | -42% | 21.52 | 1.77 | 3.47 | 12.98 | 435.69 | 4.41 | 72.30% | 28.69% | 14.78% | 8.24% | 5.04% | 2.64% | 1.45 | 2.36 | 0.51 | 0.27 | 5.82 | 494.00% | 575.00% | 6257.00% | -5.15% | 0.54 | -3.77% | 2.07% | 44.50% | 2.07% | 21.89 | -35.20 | 6.28 | 0.87 |
| KEP | Korea Electric Power Corp… | $19.50 | 25.04B | +5% | +80% | +57% | +45% | 3.99 | 0.35 | 0.15 | 1.53 | — | 0.35 | 12.02% | 8.96% | 3.74% | 9.22% | 10.34% | 1.44% | 0.61 | 1.79 | 0.46 | 0.27 | 1.01 | -17240.00% | 677.00% | -11338.00% | 11.91% | 0.25 | 2.98% | 0.91% | 3.60% | 0.91% | 3.97 | 19.98 | 0.36 | 0.48 |
| LNT | Alliant Energy Corporatio… | $72.34 | 18.6B | -24% | -52% | -81% | -25% | 22.95 | 2.53 | 4.26 | 15.05 | 137.18 | 2.53 | 40.10% | 23.50% | 18.57% | 11.30% | 5.62% | 3.34% | 1.68 | 2.00 | 0.80 | 0.49 | 5.84 | 1673.00% | 957.00% | 2144.00% | -7.07% | 0.55 | -7.21% | 2.80% | 64.30% | 2.80% | 29.64 | -23.12 | 6.96 | 1.11 |
About NiSource Inc.
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates through two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 853,000 customers in northern Indiana, as well as approximately 2.4 million residential, commercial, and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland. It operates approximately 54,600 miles of distribution main pipelines, as well as associated individual customer service lines; and 1,000 miles of transmission main pipelines. The company generates, transmits, and distributes electricity to approximately 483,000 customers in 20 counties in the northern part of Indiana, as well as engages in wholesale electric and transmission transactions. It owns and operates coal-fired electric generating stations with a capacity of 722 megawatts (MW) in Wheatfield and 455 MW in Michigan City; combined cycle gas turbine with a capacity of 563 MW in West Terre Haute; natural gas generating units with a capacity of 155 MW in Wheatfield; hydro generating plants with a capacity of 9 MW in Carroll County and 7 MW in White County; and wind generating units with a capacity of 102 MW and 302 MW in White County, Indiana. The company was formerly known as NIPSCO Industries, Inc. and changed its name to NiSource Inc. in April 1999. NiSource Inc. was founded in 1847 and is headquartered in Merrillville, Indiana.
- CEO
- Lloyd Yates
- Employees
- 7.69K
- Beta
- 0.65
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($31.01 ÷ $48.08) − 1 = -35.5% (DCF, example).