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UGI vs NI

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
UGI
UGI Corporation

Regulated Gas

UtilitiesNYSE • US
Market Cap$7.52B
5Y Perf.+10.0%
NI
NiSource Inc.

Regulated Gas

UtilitiesNYSE • US
Market Cap$22.72B
5Y Perf.+99.2%

UGI vs NI — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
UGI logoUGI
NI logoNI
IndustryRegulated GasRegulated Gas
Market Cap$7.52B$22.72B
Revenue (TTM)$7.34B$6.82B
Net Income (TTM)$600M$962M
Gross Margin49.0%62.8%
Operating Margin14.6%27.8%
Forward P/E11.5x23.1x
Total Debt$7.56B$16.24B
Cash & Equiv.$355M$136M

UGI vs NILong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

UGI
NI
StockMay 20May 26Return
UGI Corporation (UGI)100110.0+10.0%
NiSource Inc. (NI)100199.2+99.2%

Price return only. Dividends and distributions are not included.

Quick Verdict: UGI vs NI

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: NI leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. UGI Corporation is the stronger pick specifically for valuation and capital efficiency and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
UGI
UGI Corporation
The Defensive Pick

UGI is the clearest fit if your priority is defensive.

  • Beta 0.27, yield 4.2%, current ratio 0.89x
  • Lower P/E (11.5x vs 23.1x)
  • 4.2% yield, vs NI's 2.4%
Best for: defensive
NI
NiSource Inc.
The Income Pick

NI carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.

  • Dividend streak 4 yrs, beta 0.22, yield 2.4%
  • Rev growth 21.8%, EPS growth 20.4%, 3Y rev CAGR 4.3%
  • 141.5% 10Y total return vs UGI's 17.2%
Best for: income & stability and growth exposure
See the full category breakdown
CategoryWinnerWhy
GrowthNI logoNI21.8% revenue growth vs UGI's 1.1%
ValueUGI logoUGILower P/E (11.5x vs 23.1x)
Quality / MarginsNI logoNI14.1% margin vs UGI's 8.2%
Stability / SafetyNI logoNIBeta 0.22 vs UGI's 0.27, lower leverage
DividendsUGI logoUGI4.2% yield, vs NI's 2.4%
Momentum (1Y)NI logoNI+23.6% vs UGI's +8.9%
Efficiency (ROA)UGI logoUGI3.8% ROA vs NI's 3.7%, ROIC 7.1% vs 5.3%

UGI vs NI — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

UGIUGI Corporation
FY 2025
Non-utility
80.8%$5.5B
Utility
24.4%$1.7B
Utility, Other
-0.0%$-1,000,000
Off System Sales and Capacity Releases
-1.2%$-79,000,000
Peaking
-1.6%$-111,000,000
Energy Marketing
-2.3%$-159,000,000
NINiSource Inc.
FY 2023
Gas Distribution Operations
67.6%$3.7B
Electric Operations
32.4%$1.8B

UGI vs NI — Financial Metrics

Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLNILAGGINGUGI

Income & Cash Flow (Last 12 Months)

NI leads this category, winning 5 of 6 comparable metrics.

UGI and NI operate at a comparable scale, with $7.3B and $6.8B in trailing revenue. NI is the more profitable business, keeping 14.1% of every revenue dollar as net income compared to UGI's 8.2%. On growth, NI holds the edge at +8.2% YoY revenue growth, suggesting stronger near-term business momentum.

MetricUGI logoUGIUGI CorporationNI logoNINiSource Inc.
RevenueTrailing 12 months$7.3B$6.8B
EBITDAEarnings before interest/tax$1.6B$3.1B
Net IncomeAfter-tax profit$600M$962M
Free Cash FlowCash after capex$282M-$1.0B
Gross MarginGross profit ÷ Revenue+49.0%+62.8%
Operating MarginEBIT ÷ Revenue+14.6%+27.8%
Net MarginNet income ÷ Revenue+8.2%+14.1%
FCF MarginFCF ÷ Revenue+3.8%-15.0%
Rev. Growth (YoY)Latest quarter vs prior year+2.6%+8.2%
EPS Growth (YoY)Latest quarter vs prior year-23.0%+6.0%
NI leads this category, winning 5 of 6 comparable metrics.

Valuation Metrics

UGI leads this category, winning 5 of 5 comparable metrics.

At 11.3x trailing earnings, UGI trades at a 53% valuation discount to NI's 24.3x P/E. On an enterprise value basis, UGI's 8.8x EV/EBITDA is more attractive than NI's 12.9x.

MetricUGI logoUGIUGI CorporationNI logoNINiSource Inc.
Market CapShares × price$7.5B$22.7B
Enterprise ValueMkt cap + debt − cash$14.7B$38.8B
Trailing P/EPrice ÷ TTM EPS11.33x24.35x
Forward P/EPrice ÷ next-FY EPS est.11.51x23.08x
PEG RatioP/E ÷ EPS growth rate2.78x
EV / EBITDAEnterprise value multiple8.83x12.93x
Price / SalesMarket cap ÷ Revenue1.03x3.42x
Price / BookPrice ÷ Book value/share1.60x1.93x
Price / FCFMarket cap ÷ FCF19.29x
UGI leads this category, winning 5 of 5 comparable metrics.

Profitability & Efficiency

UGI leads this category, winning 6 of 9 comparable metrics.

UGI delivers a 12.2% return on equity — every $100 of shareholder capital generates $12 in annual profit, vs $8 for NI. NI carries lower financial leverage with a 1.39x debt-to-equity ratio, signaling a more conservative balance sheet compared to UGI's 1.58x. On the Piotroski fundamental quality scale (0–9), NI scores 7/9 vs UGI's 5/9, reflecting strong financial health.

MetricUGI logoUGIUGI CorporationNI logoNINiSource Inc.
ROE (TTM)Return on equity+12.2%+8.4%
ROA (TTM)Return on assets+3.8%+3.7%
ROICReturn on invested capital+7.1%+5.3%
ROCEReturn on capital employed+8.3%+6.0%
Piotroski ScoreFundamental quality 0–957
Debt / EquityFinancial leverage1.58x1.39x
Net DebtTotal debt minus cash$7.2B$16.1B
Cash & Equiv.Liquid assets$355M$136M
Total DebtShort + long-term debt$7.6B$16.2B
Interest CoverageEBIT ÷ Interest expense2.69x2.87x
UGI leads this category, winning 6 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

NI leads this category, winning 6 of 6 comparable metrics.

A $10,000 investment in NI five years ago would be worth $20,435 today (with dividends reinvested), compared to $9,428 for UGI. Over the past 12 months, NI leads with a +23.6% total return vs UGI's +8.9%. The 3-year compound annual growth rate (CAGR) favors NI at 21.3% vs UGI's 9.5% — a key indicator of consistent wealth creation.

MetricUGI logoUGIUGI CorporationNI logoNINiSource Inc.
YTD ReturnYear-to-date-5.9%+14.0%
1-Year ReturnPast 12 months+8.9%+23.6%
3-Year ReturnCumulative with dividends+31.3%+78.4%
5-Year ReturnCumulative with dividends-5.7%+104.3%
10-Year ReturnCumulative with dividends+17.2%+141.5%
CAGR (3Y)Annualised 3-year return+9.5%+21.3%
NI leads this category, winning 6 of 6 comparable metrics.

Risk & Volatility

NI leads this category, winning 2 of 2 comparable metrics.

NI is the less volatile stock with a 0.22 beta — it tends to amplify market swings less than UGI's 0.27 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NI currently trades 96.9% from its 52-week high vs UGI's 84.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricUGI logoUGIUGI CorporationNI logoNINiSource Inc.
Beta (5Y)Sensitivity to S&P 5000.27x0.22x
52-Week HighHighest price in past year$41.34$48.98
52-Week LowLowest price in past year$31.62$37.22
% of 52W HighCurrent price vs 52-week peak+84.7%+96.9%
RSI (14)Momentum oscillator 0–10038.156.3
Avg Volume (50D)Average daily shares traded1.4M3.9M
NI leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

Evenly matched — UGI and NI each lead in 1 of 2 comparable metrics.

Wall Street rates UGI as "Buy" and NI as "Buy". Consensus price targets imply 19.9% upside for UGI (target: $42) vs 4.9% for NI (target: $50). For income investors, UGI offers the higher dividend yield at 4.20% vs NI's 2.35%.

MetricUGI logoUGIUGI CorporationNI logoNINiSource Inc.
Analyst RatingConsensus buy/hold/sellBuyBuy
Price TargetConsensus 12-month target$42.00$49.80
# AnalystsCovering analysts1022
Dividend YieldAnnual dividend ÷ price+4.2%+2.4%
Dividend StreakConsecutive years of raises04
Dividend / ShareAnnual DPS$1.47$1.12
Buyback YieldShare repurchases ÷ mkt cap+0.4%0.0%
Evenly matched — UGI and NI each lead in 1 of 2 comparable metrics.
Key Takeaway

NI leads in 3 of 6 categories (Income & Cash Flow, Total Returns). UGI leads in 2 (Valuation Metrics, Profitability & Efficiency). 1 tied.

Best OverallNiSource Inc. (NI)Leads 3 of 6 categories
Loading custom metrics...

UGI vs NI: Frequently Asked Questions

10 questions · data-driven answers · updated daily

01

Is UGI or NI a better buy right now?

For growth investors, NiSource Inc.

(NI) is the stronger pick with 21. 8% revenue growth year-over-year, versus 1. 1% for UGI Corporation (UGI). UGI Corporation (UGI) offers the better valuation at 11. 3x trailing P/E (11. 5x forward), making it the more compelling value choice. Analysts rate UGI Corporation (UGI) a "Buy" — based on 10 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.

02

Which has the better valuation — UGI or NI?

On trailing P/E, UGI Corporation (UGI) is the cheapest at 11.

3x versus NiSource Inc. at 24. 3x. On forward P/E, UGI Corporation is actually cheaper at 11. 5x.

03

Which is the better long-term investment — UGI or NI?

Over the past 5 years, NiSource Inc.

(NI) delivered a total return of +104. 3%, compared to -5. 7% for UGI Corporation (UGI). Over 10 years, the gap is even starker: NI returned +141. 5% versus UGI's +17. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — UGI or NI?

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

(NI) is the lower-risk stock at 0. 22β versus UGI Corporation's 0. 27β — meaning UGI is approximately 23% more volatile than NI relative to the S&P 500. On balance sheet safety, NiSource Inc. (NI) carries a lower debt/equity ratio of 139% versus 158% for UGI Corporation — giving it more financial flexibility in a downturn.

05

Which is growing faster — UGI or NI?

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

(NI) is pulling ahead at 21. 8% versus 1. 1% for UGI Corporation (UGI). On earnings-per-share growth, the picture is similar: UGI Corporation grew EPS 147. 2% year-over-year, compared to 20. 4% for NiSource 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.

06

Which has better profit margins — UGI or NI?

NiSource Inc.

(NI) is the more profitable company, earning 14. 0% net margin versus 9. 3% for UGI Corporation — 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 15. 2% for UGI. At the gross margin level — before operating expenses — NI leads at 58. 6%, 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.

07

Is UGI or NI more undervalued right now?

On forward earnings alone, UGI Corporation (UGI) trades at 11.

5x forward P/E versus 23. 1x for NiSource Inc. — 11. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for UGI: 19. 9% to $42. 00.

08

Which pays a better dividend — UGI or NI?

All stocks in this comparison pay dividends.

UGI Corporation (UGI) offers the highest yield at 4. 2%, versus 2. 4% for NiSource Inc. (NI).

09

Is UGI or NI better for a retirement portfolio?

For long-horizon retirement investors, NiSource Inc.

(NI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 22), 2. 4% yield, +141. 5% 10Y return). Both have compounded well over 10 years (NI: +141. 5%, UGI: +17. 2%), 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.

10

What are the main differences between UGI and NI?

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: UGI is a small-cap deep-value stock; NI is a mid-cap high-growth 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.

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UGI

Income & Dividend Stock

  • Sector: Utilities
  • Market Cap > $100B
  • Net Margin > 5%
  • Dividend Yield > 1.6%
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NI

Income & Dividend Stock

  • Sector: Utilities
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 8%
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Beat Both

Find stocks that outperform UGI and NI on the metrics below

Revenue Growth>
%
(UGI: 2.6% · NI: 8.2%)
Net Margin>
%
(UGI: 8.2% · NI: 14.1%)
P/E Ratio<
x
(UGI: 11.3x · NI: 24.3x)

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