$45.85
+0.70%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.
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash flow concerns: Despite profitability, the company is burning cash. Review working capital management, CapEx levels, and sustainability of current operations.
NI โข NYSE
| NiSource Inc. Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||||||||||
926.9M | 760.4M | 674.4M | 791.8M | 588.8M | -14.2M | 383.1M | -50.6M | 128.6M | 328.1M | 198.6M | 530.7M | 490.9M | 410.6M | 299.1M | 292M | 217.7M | 79M | 321.4M | 282.2M | |
1.2B | 1B | 908.2M | 820.8M | 748.4M | 725.9M | 717.4M | 599.6M | 570.3M | 547.1M | 524.4M | 605.5M | 577.3M | 561.9M | 538.2M | 596.3M | 589M | 0.0 | 0.0 | 0.0 | |
235.8M | 168M | 134.1M | 156.9M | 111.9M | -29M | 118.2M | -188.2M | 306.7M | 182.3M | 135.3M | 299.1M | 287.4M | 304.6M | 178.4M | 200.1M | 378.2M | 137.8M | 12.7M | -113.4M | |
0.0 | 32.1M | 23.9M | 24.9M | 24.3M | 17.4M | 25.9M | 28.6M | 40.1M | 46.5M | 50.7M | 72.3M | 50.7M | 45M | 39.2M | 30.9M | 9.6M | 0.0 | 0.0 | 0.0 | |
88.4M | -26.6M | -5.4M | -99.6M | 4.9M | 653M | 413.8M | 40.5M | 112.9M | -8.6M | 400.9M | -48.5M | -24.8M | -16.3M | 77.5M | 20.5M | -229.6M | 850.5M | 558.4M | 566.2M | |
(0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (60.6M) | (185.2M) | (288.2M) | |
-56.4M | -195.6M | 199.9M | -285.4M | -260.4M | -249.1M | -75.1M | 110.2M | -416.4M | -292.1M | 146.9M | -139.5M | 55.3M | -30.3M | -262.2M | -419.8M | 685.8M | -483.1M | -135.3M | 421.2M | |
2.4B | 1.8B | 1.9B | 1.4B | 1.2B | 1.1B | 1.6B | 540.1M | 742.2M | 803.3M | 1.5B | 1.3B | 1.4B | 1.3B | 870.2M | 720M | 1.7B | 584.2M | 757.2M | 1.2B | |
INVESTING ACTIVITIES | ||||||||||||||||||||
-2.8B | -2.6B | -2.6B | -2.2B | -1.8B | -1.8B | -1.8B | -1.8B | -1.7B | -1.5B | -1.4B | -2B | -1.9B | -1.5B | -1.1B | -803.8M | -777.2M | -1.3B | -788.3M | -637.4M | |
(231.4M) | (0.0) | (0.0) | (21.2M) | (1.8B) | (1.8B) | (1.8B) | (1.8B) | (1.7B) | (0.0) | (3.8B) | -69.2M | -125.4M | -20.4M | (0.0) | (803.8M) | (0.0) | (0.0) | (0.0) | (0.0) | |
-93.9M | -17.8M | -42.8M | -73.5M | -102.9M | -144.7M | -140.4M | -90M | -168.4M | (0.0) | (0.0) | (0.0) | -125.4M | (0.0) | -6.4M | -87.9M | -23.5M | (0.0) | (0.0) | (0.0) | |
39.3M | 93.2M | 39.9M | 75.7M | 97.8M | 131.4M | 132.1M | 82.3M | 163.1M | 0.0 | 0.0 | 0.0 | 1.9B | 0.0 | 0.0 | 23.8M | 0.0 | 0.0 | 0.0 | 0.0 | |
-1.7B | -645.4M | -922.9M | -390.5M | -2.2B | -865.8M | -1.9B | -1.9B | -1.8B | -107.7M | -492.6M | -18.9M | -1.6B | 94M | -17.7M | -879.2M | 145.9M | 185.3M | 106.9M | -95.1M | |
-4.3B | -3.2B | -3.6B | -2.6B | -2.2B | -879.1M | -1.9B | -1.9B | -1.8B | -1.6B | (1.9B) | -2.1B | -1.9B | -1.4B | -1.1B | -943.3M | -654.8M | -1.1B | -681.4M | -732.5M | |
FINANCING ACTIVITIES | ||||||||||||||||||||
312.1M | 612.6M | 12.9M | 154.3M | 1.1B | 211.4M | 244.4M | 844.2M | 329.5M | 13.7M | -20.4M | 20.1M | 35.6M | 373.5M | 21.3M | 12.9M | 8M | 1.3M | 6.1M | -65.8M | |
2.2B | -240.1M | 2.7B | 1.5B | 31.3M | 81.9M | 494.4M | 75.4M | 1.1B | 986M | -3B | 1.1B | 718.6M | 77.6M | 580M | 546.4M | -770.3M | 767.2M | 213.7M | -142.3M | |
-530.4M | -489.2M | -457.3M | -436.6M | -400.3M | -376.7M | -354.6M | -284.9M | -229.1M | -205.5M | -263.4M | -321.3M | -305.9M | -273.2M | -257.8M | -255.6M | -253.3M | -252.4M | -252.1M | -251.9M | |
(0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | -4M | -7.2M | -9.4M | -20.4M | -10.2M | -8.1M | -10M | -3.1M | -1.5M | -2.6M | (0.0) | -2.1M | -87.7M | |
-88.8M | -34.2M | 1.9B | -63.9M | 185.8M | -164.3M | -17.8M | -46M | -144.3M | -3.7M | -99.2M | -8.7M | -3.2M | -3.4M | -62.1M | -93M | 0.0 | 0.0 | -40.6M | -81.6M | |
1.9B | -651M | 3.8B | 1.1B | 956.3M | -247.7M | 366.4M | 1.5B | 1.1B | 790.5M | -3.4B | 795.6M | 445.1M | 174.5M | 281.4M | 216.1M | -1B | 516.1M | -72.9M | -460M | |
CASH FLOW SUMMARY | ||||||||||||||||||||
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 500K | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
-62.9M | -2.1B | 2.2B | -19.5M | -30.7M | -22.8M | 27.3M | 82.7M | 2.4M | 10.9M | -9.4M | -1.4M | -9.5M | 24.8M | 2.3M | -7.2M | -4.2M | -14M | 2.9M | -36.3M | |
198.6M | 2.3B | 75.4M | 94.9M | 125.6M | 148.4M | 121.1M | 38.4M | 36M | 15.5M | 24.9M | 26.8M | 36.3M | 11.5M | 9.2M | 16.4M | 20.6M | 34.6M | 33.1M | 69.4M | |
135.7M | 198.6M | 2.3B | 75.4M | 94.9M | 125.6M | 148.4M | 121.1M | 38.4M | 26.4M | 15.5M | 25.4M | 26.8M | 36.3M | 11.5M | 9.2M | 16.4M | 20.6M | 36M | 33.1M | |
-420M | -861.5M | -710.7M | -793.7M | -620.1M | -654.1M | -219.1M | -1.3B | -953.6M | -671.9M | 96.1M | -708.9M | -443.1M | -223.3M | -255M | -83.8M | 873.5M | -715.4M | -31.1M | 518.8M |
NI - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 18, 2026 | May 18, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 12, 2026 | May 11, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | May 06, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 06, 2026 | May 06, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | March 30, 2026 | May 11, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 11, 2026 | February 11, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 11, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2025 N/A | December 11, 2025 | December 11, 2025 | 2025 | |
8-K 8-K 2025 N/A | November 07, 2025 | November 07, 2025 | 2025 | |
8-K 8-K 2025 N/A | October 31, 2025 | October 31, 2025 | 2025 |
Continue your NI research with focused valuation guides.
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.