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NI · NYSE · United States · Electric & Other Services Combined
In shortNISOURCE INC. is profitable, burns cash and carries moderate debt, with revenue growing (+23.5% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 28.1% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 14.3% | 77/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 10.3% | 51/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 6.1% | 41/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.69× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.64× | 20/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 5.12× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 2.87× | 13/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 0.49 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -6.4% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -0.45× | 0/100 |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 13.5% | 61/100 |
| Operating margin volatility | 3.1% | 81/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 4.4% | 41/100 |
|---|---|---|
| EPS growth, 3-year average | 4.7% | 48/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 4,731 | 5,739 | 5,348 | 5,283 | 6,523 |
| Operating income | 1,007 | 1,266 | 1,296 | 1,456 | 1,835 |
| Interest expense | 341 | 362 | 490 | 517 | 639 |
| Pre-tax income | 707 | 956 | 814 | 1,003 | 1,216 |
| Income tax | 118 | 165 | 140 | 158 | 204 |
| Net income | 585 | 804 | 714 | 760 | 930 |
| Diluted EPS | $1.27 | $1.70 | $1.48 | $1.62 | $1.95 |
| Diluted shares (millions) | 417 | 443 | 448 | 456 | 475 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
0.49 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
6/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 5, 2026