NISOURCE INC.
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 16,214 | 63.2 |
| Stockholders' equity | 9,450 | 36.8 |
| Total capitalization | 25,664 | 100.0 |
479,560,100 shares outstanding at 29 July 2026 (cover page of the 10-Q filed 5 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, noncurrent | 15,458 |
| Current maturities | 20 |
| Short-term borrowings / commercial paper | 736 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 750,000,000 |
| Par or stated value per share ($) | 0.01 |
| Outstanding at 7/29/26 | 479,560,100 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 1.12 | 57.4 |
| 2024 | 1.06 | 65.4 |
| 2023 | 1.00 | 67.6 |
| 2022 | 0.94 | 55.3 |
| 2021 | 0.88 | 69.3 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware. Formerly known as NISOURCE INC/DE (to 26 June 2019); NEW NISOURCE INC (to 2 November 2000).
BUSINESS: Classified by the SEC under Standard Industrial Classification 4931, Electric & Other Services Combined. Large accelerated filer. Principal executive office: 801 East 86Th Ave, Merrillville, IN 46410-6272. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Operating revenues | 6,523 | 5,283 | 5,348 |
| Operation and maintenance | 1,710 | 1,515 | 1,495 |
| Depreciation and amortization | 1,168 | 1,043 | 908 |
| Taxes other than income taxes | 344 | 300 | 271 |
| Operating income | 1,835 | 1,456 | 1,296 |
| Interest charges | 639 | 517 | 490 |
| Income before income taxes | 1,216 | 1,003 | 814 |
| Income taxes | 204 | 158 | 140 |
| Net income | 930 | 760 | 714 |
| Earned per share, diluted ($) | 1.95 | 1.62 | 1.48 |
| Dividends per share ($) | 1.12 | 1.06 | 1.00 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Utility plant, net | 28,688 | 25,454 |
| Cash and equivalents | 110 | 157 |
| Total current assets | 2,377 | 2,080 |
| Regulatory assets | 2,225 | 2,157 |
| Total assets | 35,859 | 31,788 |
| Total current liabilities | 3,457 | 4,113 |
| Long-term debt | 15,458 | 12,074 |
| Regulatory liabilities | 1,513 | 1,431 |
| Common stockholders' equity | 9,450 | 8,684 |
| Total capitalization and liabilities | 35,859 | 31,788 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 6,523 | 1,835 | 930 | 14.3 | 1.95 | 1.12 | 2,362 | 2,782 | (420) | 35,859 | 24,199d | 16,214 | 9,450 | 9.8 | 1.72 |
| 12/31/24 | 5,283 | 1,456 | 760 | 14.4 | 1.62 | 1.06 | 1,782 | 2,614 | (832) | 31,788 | 21,120d | 13,960 | 8,684 | 8.8 | 1.61 |
| 12/31/23 | 5,348 | 1,296 | 714 | 13.4 | 1.48 | 1.00 | 1,935 | 2,646 | (711) | 31,077 | 20,941d | 14,128 | 8,270 | 8.6 | 1.71 |
| 12/31/22 | 5,739 | 1,266 | 804 | 14.0 | 1.70 | 0.94 | 1,409 | 2,203 | (794) | 26,737 | 18,835d | 11,316 | 7,575 | 10.6 | 1.49 |
| 12/31/21 | 4,731 | 1,007 | 585 | 12.4 | 1.27 | 0.88 | 1,218 | 1,838 | (620) | 24,157 | 16,884d | 9,802 | 6,947 | 8.4 | 1.41 |
| 12/31/20 | 4,473 | 551 | (18) | -0.4 | (0.19) | 0.84 | 1,104 | 1,758 | (654) | 22,040 | 16,203d | 9,746 | 5,752 | -0.3 | 1.69 |
| 12/31/19 | 5,053 | 891 | 383 | 7.6 | 0.87 | 0.80 | 1,583 | 1,802 | (219) | 22,660 | 16,673d | 9,643 | 5,987 | 6.4 | 1.61 |
| 12/31/18 | 4,991 | 125 | (51) | -1.0 | (0.18) | 0.78 | 540 | 1,818 | (1,278) | 21,804 | 16,053d | 9,133 | 5,751 | -0.9 | 1.59 |
| 12/31/17 | 4,875 | 921 | 128 | 2.6 | 0.39 | 0.70 | 742 | 1,696 | (954) | 19,962 | 15,642d | 9,002 | 4,320 | 3.0 | 2.08 |
| 12/31/16 | 4,492 | 866 | 332 | 7.4 | 1.02 | 0.64 | 803 | 1,475 | (672) | 18,692 | 14,621d | 7,909 | 4,071 | 8.1 | 1.94 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
NISOURCE INC.
CIK 1111711 · EIN 35-2108964
PRINCIPAL OFFICE:
801 East 86Th Ave, Merrillville, IN 46410-6272
Tel.: 2196475200
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
4931 · Electric & Other Services Combined
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 11 February 2026
FORMER NAMES:
NISOURCE INC/DE; NEW NISOURCE INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/11/26) · 10-K FY2024 (filed 2/12/25) · 10-K FY2023 (filed 2/21/24) · 10-K FY2022 (filed 2/22/23) · 10-K FY2021 (filed 2/23/22) · 10-K FY2020 (filed 2/17/21) · 10-K FY2018 (filed 2/20/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.