NI vs SR

For growth investors, NiSource Inc.

(NI) is the stronger pick with 21. 8% revenue growth year-over-year, versus -4. 5% for Spire Inc. (SR). Spire Inc. (SR) offers the better valuation at 19. 7x trailing P/E (16. 6x forward), making it the more compelling value choice. Analysts rate NiSource Inc. (NI) a "Buy" — based on 22 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Spire Inc.

(SR) is the cheapest at 19. 7x versus NiSource Inc. at 24. 3x. On forward P/E, Spire Inc. is actually cheaper at 16. 6x.

Over the past 5 years, NiSource Inc.

(NI) delivered a total return of +104. 3%, compared to +32. 1% for Spire Inc. (SR). Over 10 years, the gap is even starker: NI returned +141. 5% versus SR's +73. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Spire Inc.

(SR) is the lower-risk stock at 0. 06β versus NiSource Inc. 's 0. 22β — meaning NI is approximately 237% more volatile than SR relative to the S&P 500. On balance sheet safety, NiSource Inc. (NI) carries a lower debt/equity ratio of 139% versus 154% for Spire Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), NiSource Inc.

(NI) is pulling ahead at 21. 8% versus -4. 5% for Spire Inc. (SR). On earnings-per-share growth, the picture is similar: NiSource Inc. grew EPS 20. 4% year-over-year, compared to 4. 3% for Spire Inc.. Over a 3-year CAGR, NI leads at 4. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

NiSource Inc.

(NI) is the more profitable company, earning 14. 0% net margin versus 11. 0% for Spire Inc. — meaning it keeps 14. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NI leads at 27. 6% versus 21. 2% for SR. At the gross margin level — before operating expenses — SR leads at 78. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Spire Inc.

(SR) trades at 16. 6x forward P/E versus 23. 1x for NiSource Inc. — 6. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for SR: 12. 5% to $97. 00.

All stocks in this comparison pay dividends.

Spire Inc. (SR) offers the highest yield at 3. 6%, versus 2. 4% for NiSource Inc. (NI).

For long-horizon retirement investors, Spire Inc.

(SR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 06), 3. 6% yield). Both have compounded well over 10 years (SR: +73. 8%, NI: +141. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: NI is a mid-cap high-growth stock; SR is a small-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.