NiSource Inc
NiSource Inc., an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Columbia Operations and NIPSCO Operations. The company provides natural gas to residential, commercial, and industrial customers through approximately 37,300 miles of distribution main pipeline and the associated individual customer service … Read more
NiSource Inc (NI) - Net Assets
Latest net assets as of December 2025: $9.45 Billion USD
Based on the latest financial reports, NiSource Inc (NI) has net assets worth $9.45 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($35.86 Billion) and total liabilities ($26.41 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $9.45 Billion |
| % of Total Assets | 26.35% |
| Annual Growth Rate | 10.66% |
| 5-Year Change | 311.13% |
| 10-Year Change | 634.46% |
| Growth Volatility | 40.05 |
NiSource Inc - Net Assets Trend (1994–2025)
This chart illustrates how NiSource Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for NiSource Inc (1994–2025)
The table below shows the annual net assets of NiSource Inc from 1994 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $29.90 Billion | +180.28% |
| 2024-12-31 | $10.67 Billion | +5.25% |
| 2023-12-31 | $10.14 Billion | +28.28% |
| 2022-12-31 | $7.90 Billion | +8.65% |
| 2021-12-31 | $7.27 Billion | +24.58% |
| 2020-12-31 | $5.84 Billion | -2.49% |
| 2019-12-31 | $5.99 Billion | +4.10% |
| 2018-12-31 | $5.75 Billion | +33.12% |
| 2017-12-31 | $4.32 Billion | +6.11% |
| 2016-12-31 | $4.07 Billion | +5.92% |
| 2015-12-31 | $3.84 Billion | -37.76% |
| 2014-12-31 | $6.18 Billion | +4.90% |
| 2013-12-31 | $5.89 Billion | +5.98% |
| 2012-12-31 | $5.55 Billion | +11.15% |
| 2011-12-31 | $5.00 Billion | +1.51% |
| 2010-12-31 | $4.92 Billion | +1.42% |
| 2009-12-31 | $4.85 Billion | +2.65% |
| 2008-12-31 | $4.73 Billion | -6.85% |
| 2007-12-31 | $5.08 Billion | +1.26% |
| 2006-12-31 | $5.01 Billion | -0.01% |
| 2005-12-31 | $5.01 Billion | +3.00% |
| 2004-12-31 | $4.87 Billion | +8.25% |
| 2003-12-31 | $4.50 Billion | +5.57% |
| 2002-12-31 | $4.26 Billion | +19.72% |
| 2001-12-31 | $3.56 Billion | +0.28% |
| 2000-12-31 | $3.55 Billion | +137.62% |
| 1999-12-31 | $1.49 Billion | +15.59% |
| 1998-12-31 | $1.29 Billion | -8.34% |
| 1997-12-31 | $1.41 Billion | +13.40% |
| 1996-12-31 | $1.24 Billion | -4.56% |
| 1995-12-31 | $1.30 Billion | +0.53% |
| 1994-12-31 | $1.30 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to NiSource Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 170.5% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $4.80 Million | 0.05% |
| Other Comprehensive Income | $-6.20 Million | -0.07% |
| Other Components | $9.77 Billion | 103.35% |
| Total Equity | $9.45 Billion | 100.00% |
NiSource Inc Competitors by Market Cap
The table below lists competitors of NiSource Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ast Spacemobile Inc
NASDAQ:ASTS
|
$21.94 Billion |
|
Banco De Chile
NYSE:BCH
|
$21.98 Billion |
|
Hanwha Aerospace Co Ltd
KO:012450
|
$22.01 Billion |
|
Accton Technology Corp
TW:2345
|
$22.08 Billion |
|
The Procter & Gamble Company
SA:PGCO34
|
$21.90 Billion |
|
Estee Lauder Companies Inc
NYSE:EL
|
$21.89 Billion |
|
Heidelberg Materials AG
XETRA:HEI
|
$21.89 Billion |
|
Regions Financial Corporation
NYSE:RF
|
$21.88 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in NiSource Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 8,684,200,000 to 9,450,100,000, a change of 765,900,000 (8.8%).
- Net income of 929,500,000 contributed positively to equity growth.
- Dividend payments of 530,400,000 reduced retained earnings.
- Share repurchases of 312,100,000 reduced equity.
- Other comprehensive income increased equity by 24,200,000.
- Other factors increased equity by 654,700,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $929.50 Million | +9.84% |
| Dividends Paid | $530.40 Million | -5.61% |
| Share Repurchases | $312.10 Million | -3.3% |
| Other Comprehensive Income | $24.20 Million | +0.26% |
| Other Changes | $654.70 Million | +6.93% |
| Total Change | $- | 8.82% |
Book Value vs Market Value Analysis
This analysis compares NiSource Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 2.37x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 4.77x to 2.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | $9.90 | $47.26 | x |
| 1995-12-31 | $10.20 | $47.26 | x |
| 1996-12-31 | $10.06 | $47.26 | x |
| 1997-12-31 | $11.30 | $47.26 | x |
| 1998-12-31 | $10.59 | $47.26 | x |
| 1999-12-31 | $11.82 | $47.26 | x |
| 2000-12-31 | $29.16 | $47.26 | x |
| 2001-12-31 | $16.95 | $47.26 | x |
| 2002-12-31 | $20.01 | $47.26 | x |
| 2003-12-31 | $17.42 | $47.26 | x |
| 2004-12-31 | $18.34 | $47.26 | x |
| 2005-12-31 | $18.37 | $47.26 | x |
| 2006-12-31 | $18.34 | $47.26 | x |
| 2007-12-31 | $18.48 | $47.26 | x |
| 2008-12-31 | $17.17 | $47.26 | x |
| 2009-12-31 | $17.60 | $47.26 | x |
| 2010-12-31 | $17.58 | $47.26 | x |
| 2011-12-31 | $17.32 | $47.26 | x |
| 2012-12-31 | $18.49 | $47.26 | x |
| 2013-12-31 | $18.77 | $47.26 | x |
| 2014-12-31 | $19.51 | $47.26 | x |
| 2015-12-31 | $12.02 | $47.26 | x |
| 2016-12-31 | $12.58 | $47.26 | x |
| 2017-12-31 | $13.06 | $47.26 | x |
| 2018-12-31 | $16.13 | $47.26 | x |
| 2019-12-31 | $15.92 | $47.26 | x |
| 2020-12-31 | $14.97 | $47.26 | x |
| 2021-12-31 | $16.65 | $47.26 | x |
| 2022-12-31 | $17.11 | $47.26 | x |
| 2023-12-31 | $18.46 | $47.26 | x |
| 2024-12-31 | $19.04 | $47.26 | x |
| 2025-12-31 | $19.92 | $47.26 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently NiSource Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.84%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 13.99%
- • Asset Turnover: 0.19x
- • Equity Multiplier: 3.79x
- Recent ROE (9.84%) is above the historical average (7.53%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 12.66% | 9.78% | 0.42x | 3.05x | $34.47 Million |
| 1995 | 13.48% | 10.19% | 0.43x | 3.07x | $45.28 Million |
| 1996 | 14.22% | 9.70% | 0.43x | 3.44x | $52.42 Million |
| 1997 | 13.54% | 7.38% | 0.52x | 3.50x | $49.87 Million |
| 1998 | 15.01% | 6.61% | 0.59x | 3.86x | $64.73 Million |
| 1999 | 10.74% | 5.10% | 0.46x | 4.58x | $11.09 Million |
| 2000 | 4.42% | 2.60% | 0.31x | 5.55x | $-197.89 Million |
| 2001 | 6.08% | 2.29% | 0.54x | 4.88x | $-139.60 Million |
| 2002 | 8.74% | 5.74% | 0.38x | 3.97x | $-53.48 Million |
| 2003 | 1.91% | 1.37% | 0.38x | 3.70x | $-364.00 Million |
| 2004 | 8.96% | 6.54% | 0.39x | 3.49x | $-50.52 Million |
| 2005 | 6.11% | 3.88% | 0.44x | 3.58x | $-194.91 Million |
| 2006 | 5.63% | 3.77% | 0.41x | 3.62x | $-219.16 Million |
| 2007 | 6.33% | 4.05% | 0.44x | 3.55x | $-186.26 Million |
| 2008 | 1.67% | 0.89% | 0.44x | 4.24x | $-393.88 Million |
| 2009 | 4.48% | 3.27% | 0.35x | 3.97x | $-267.71 Million |
| 2010 | 5.93% | 4.55% | 0.32x | 4.05x | $-200.32 Million |
| 2011 | 5.99% | 4.97% | 0.29x | 4.14x | $-200.63 Million |
| 2012 | 7.49% | 8.22% | 0.23x | 3.93x | $-139.33 Million |
| 2013 | 9.04% | 9.41% | 0.25x | 3.85x | $-56.56 Million |
| 2014 | 8.58% | 8.19% | 0.26x | 4.03x | $-87.53 Million |
| 2015 | 7.45% | 6.16% | 0.27x | 4.55x | $-97.85 Million |
| 2016 | 8.14% | 7.38% | 0.24x | 4.59x | $-75.62 Million |
| 2017 | 2.97% | 2.64% | 0.24x | 4.62x | $-303.51 Million |
| 2018 | -0.88% | -0.99% | 0.23x | 3.79x | $-625.69 Million |
| 2019 | 6.40% | 7.35% | 0.23x | 3.79x | $-215.57 Million |
| 2020 | -0.31% | -0.38% | 0.21x | 3.83x | $-592.82 Million |
| 2021 | 8.42% | 11.94% | 0.20x | 3.48x | $-109.83 Million |
| 2022 | 10.61% | 13.74% | 0.22x | 3.53x | $46.56 Million |
| 2023 | 8.64% | 12.97% | 0.18x | 3.76x | $-112.66 Million |
| 2024 | 8.76% | 13.94% | 0.17x | 3.66x | $-108.02 Million |
| 2025 | 9.84% | 13.99% | 0.19x | 3.79x | $-15.51 Million |
Industry Comparison
This section compares NiSource Inc's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $9,591,711,655
- Average return on equity (ROE) among peers: 15.39%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| NiSource Inc (NI) | $9.45 Billion | 12.66% | 2.79x | $21.94 Billion |
| APA Group (APAJF) | $3.21 Billion | 8.05% | 4.14x | $6.28 Billion |
| Ascopiave S.p.A (ASCOF) | $409.67 Million | 8.69% | 1.12x | $220.54 Million |
| Atmos Energy Corporation (ATO) | $1.65 Billion | 8.96% | 2.47x | $30.35 Billion |
| Beijing Gas Blue Sky Holdings Limited (BJGBF) | $25.42 Million | 42.17% | 3.14x | $31.34 Million |
| Black Hills Corporation (BKH) | $205.40 Million | 15.77% | 1.48x | $5.29 Billion |
| CF Energy Corp (CGFEF) | $47.11 Million | 14.33% | 1.32x | $2.67 Million |
| China Gas Holdings Limited (CGHOF) | $45.80 Billion | 20.06% | 1.45x | $2.35 Billion |
| Chesapeake Utilities Corporation (CPK) | $561.58 Million | 11.60% | 2.18x | $3.01 Billion |
| China Resources Gas Group Limited (CRGGF) | $31.61 Billion | 14.08% | 1.33x | $2.74 Billion |
| China Suntien Green Energy Corporation Limited (CSGEF) | $12.40 Billion | 10.23% | 2.16x | $894.23 Million |