# NISOURCE INC. (NI) · Edgar & Edgarette company card

> Nisource (NI) grew revenue 23.5% in FY2025 to $6.5 billion, operating margin 28.1% against a 20.2% median for electric & other services combined, equity 26.4% of assets, and dividend per share up 9 years running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1111711 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/NI) · [JSON](https://www.pops4.com/boards/company/NI.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $6.5B |
| Revenue growth, 1 year | 23.5% |
| Revenue growth per year | 8.4% |
| Operating margin | 28.1% (prior year 27.6%) |
| Net margin | 15.5% |
| Operating cash flow | $2.4B |
| Capital spending | $2.8B |
| Free cash flow | −$420M |
| Cash | $110M |
| Long-term debt | $15.5B |
| Total assets | $35.9B |
| Total equity | $9.5B |
| Equity ÷ assets | 26.4% |
| Return on equity | 10.7% |
| Dividend per share | $1.12 |
| Dividend years rising | 9 |

## Readings, computed from those figures

- Piotroski F: 6 of 9 (solid)
- Health Harbor boat: Sound ship · one warning sign · slow and jumpy: growing slower than its size class, with revenue that swings more
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $6.5B (FY2025), total debt $15.5B. Experience: revenue up 23.5% on the year, up 8.4% a year over 4 years; operating margin 28.1%, up from 27.6%. Soundness: equity 26.4% of assets, return on equity 10.7%, payout 52.4% of profit, dividend per share up 9 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $6.1B and $8.6B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $5.4B to $9.8B. A statistical range, not company guidance. Against peers (18 filers, $50M+ revenue, electric & other services combined): operating margin 28.1% against a 20.2% median; growth 23.5% against 13.8%.

Range logged 2026-09-26, receipt 71a70e84ab6f0e25, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

No warning filings in the window.

## Recent filings

- 10-Q · filed 2026-10-28 · [filing](https://www.sec.gov/Archives/edgar/data/1111711/000111171126000100/0001111711-26-000100-index.htm)
- 8-K · filed 2026-10-28 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1111711/000111171126000099/0001111711-26-000099-index.htm)
- 8-K · filed 2026-10-16 · 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1111711/000119312526423375/0001193125-26-423375-index.htm)
- 8-K · filed 2026-08-18 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1111711/000119312526355564/0001193125-26-355564-index.htm)
- 10-Q · filed 2026-08-05 · [filing](https://www.sec.gov/Archives/edgar/data/1111711/000111171126000088/0001111711-26-000088-index.htm)
- 8-K · filed 2026-08-05 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1111711/000111171126000087/0001111711-26-000087-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001111711.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1111711

## Cite

POPS4, Edgar & Edgarette: NISOURCE INC. (NI) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/NI. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.