Last 47 quarters of trend data · Utilities · Regulated Gas
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 22.41 | 132.08 | 11.00 | 19.70 | 54.12 | 45.84 | 10.02 | 19.35 | 45.59 | 37.91 | 8.98 | 13.22 | 36.29 | 75.97 | 9.85 | 13.30 | 52.48 | 61.44 | 8.46 | 19.64 | 50.48 |
| — | +188.1% | +9.8% | +1.8% | +18.7% | +20.9% | +11.6% | +46.3% | +25.6% | -50.1% | -8.8% | -0.6% | -30.8% | +23.7% | +16.4% | -32.3% | +4.0% | +10.3% | +1.0% | -36.9% | — | |
| P/S Ratio | 3.15 | 4.26 | 2.37 | 2.60 | 4.03 | 3.71 | 2.17 | 2.72 | 3.66 | 2.99 | 1.82 | 2.10 | 2.69 | 2.80 | 1.59 | 1.79 | 2.56 | 2.74 | 1.87 | 2.11 | 2.72 |
| — | +14.8% | +9.4% | -4.3% | +10.1% | +24.1% | +19.1% | +29.7% | +35.9% | +6.7% | +14.6% | +17.2% | +5.0% | +2.2% | -15.1% | -15.1% | -5.7% | +4.4% | +21.9% | +16.0% | +16.2% | |
| P/B Ratio | 1.78 | 1.92 | 1.88 | 1.70 | 1.82 | 1.73 | 1.73 | 1.62 | 1.52 | 1.32 | 1.27 | 1.18 | 1.42 | 1.61 | 1.56 | 1.54 | 1.49 | 1.72 | 1.86 | 1.63 | 1.58 |
| — | +11.1% | +8.7% | +5.0% | +19.7% | +31.1% | +36.4% | +37.6% | +7.1% | -18.2% | -18.7% | -23.8% | -4.3% | -6.3% | -16.2% | -5.5% | -6.0% | +9.9% | +18.3% | +8.3% | +1.7% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 24.74 | — | — | — | 27.06 | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | -8.5% | — | — | — | -7.4% | — | — | |
| EV / EBITDA | 12.34 | 17.10 | 8.83 | 10.81 | 14.95 | 15.68 | 8.24 | 11.18 | 14.98 | 13.43 | 7.66 | 9.60 | 13.67 | 15.35 | 8.12 | 10.18 | 15.25 | 16.35 | 7.47 | 11.53 | 14.89 |
| — | +9.1% | +7.2% | -3.3% | -0.2% | +16.7% | +7.6% | +16.4% | +9.6% | -12.5% | -5.7% | -5.7% | -10.4% | -6.1% | +8.8% | -11.7% | +2.4% | +10.0% | -3.7% | -0.6% | -14.3% | |
| EV / EBIT | 20.19 | 40.98 | 11.74 | 16.56 | 29.40 | 32.71 | 10.97 | 17.83 | 29.53 | 26.35 | 10.67 | 15.65 | 26.22 | 36.12 | 11.25 | 14.87 | 32.91 | 37.78 | 9.69 | 18.77 | 31.00 |
| — | +25.3% | +7.0% | -7.1% | -0.4% | +24.2% | +2.8% | +13.9% | +12.6% | -27.1% | -5.2% | +5.3% | -20.3% | -4.4% | +16.2% | -20.8% | +6.2% | +19.6% | -10.3% | -7.2% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.6% | 50.2% | 51.0% | 49.2% | 53.3% | 48.7% | 50.7% | 49.7% | 51.4% | 51.8% | 52.9% | 48.8% | 49.1% | 43.0% | 41.2% | 38.1% | 37.7% | 35.3% | 41.2% | 39.0% | 41.7% |
| — | +3.1% | +0.5% | -1.0% | +3.7% | -6.0% | -4.1% | +1.9% | +4.6% | +20.6% | +28.5% | +28.0% | +30.3% | +21.8% | -0.1% | -2.2% | -9.6% | -11.9% | -9.9% | -3.1% | -0.8% | |
| Operating Margin | 27.6% | 17.0% | 34.7% | 27.1% | 23.4% | 20.5% | 34.8% | 26.3% | 20.3% | 21.8% | 34.2% | 25.5% | 22.7% | 15.5% | 27.0% | 21.4% | 14.4% | 12.1% | 32.0% | 20.2% | 15.3% |
| — | -17.1% | -0.3% | +3.1% | +15.2% | -6.2% | +1.7% | +2.9% | -10.6% | +41.0% | +26.6% | +18.9% | +57.7% | +27.9% | -15.7% | +6.2% | -6.2% | -16.0% | +14.3% | +12.1% | +49.1% | |
| Net Margin | 14.0% | 3.4% | 21.5% | 13.5% | 7.4% | 8.0% | 21.7% | 14.1% | 8.0% | 7.9% | 21.4% | 16.7% | 8.3% | 5.4% | 16.9% | 14.3% | 6.0% | 5.7% | 22.8% | 11.8% | 6.6% |
| — | -57.4% | -1.3% | -3.9% | -6.6% | +0.7% | +1.7% | -15.5% | -3.9% | +46.6% | +26.3% | +16.4% | +37.1% | -4.7% | -25.7% | +21.8% | -8.3% | -7.4% | +19.2% | +69.0% | +134.4% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.3% | 0.4% | 4.3% | 2.3% | 0.9% | 0.9% | 4.4% | 2.1% | 0.9% | 0.9% | 3.7% | 2.7% | 1.1% | 0.8% | 4.2% | 3.2% | 0.9% | 0.9% | 5.8% | 2.4% | 1.0% |
| — | -59.0% | -2.1% | +5.6% | +0.1% | +6.5% | +20.0% | -19.6% | -23.3% | +15.9% | -12.5% | -16.5% | +26.9% | -15.1% | -27.4% | +32.5% | -8.7% | -6.8% | +15.7% | +59.8% | +130.7% | |
| ROA | 2.7% | 0.1% | 1.4% | 0.7% | 0.3% | 0.3% | 1.5% | 0.7% | 0.3% | 0.3% | 1.2% | 0.8% | 0.3% | 0.2% | 1.2% | 0.9% | 0.3% | 0.3% | 1.8% | 0.7% | 0.3% |
| — | -59.7% | -5.3% | +1.6% | -1.9% | +5.1% | +21.1% | -11.3% | -8.5% | +33.5% | -2.8% | -13.8% | +18.1% | -20.4% | -29.4% | +32.2% | -6.8% | +0.6% | +31.7% | +87.4% | +136.6% | |
| ROIC | 5.3% | 0.6% | 2.2% | 1.4% | 0.8% | 0.8% | 2.3% | 1.3% | 0.7% | 0.8% | 2.0% | 1.3% | 0.9% | 0.6% | 2.0% | 1.5% | 0.7% | 0.6% | 2.6% | 1.3% | 0.7% |
| — | -22.2% | -4.3% | +9.2% | +20.2% | -2.2% | +16.2% | +2.3% | -18.3% | +20.9% | -4.4% | -13.0% | +30.0% | +3.6% | -21.8% | +13.7% | -5.1% | -8.7% | +26.5% | +23.8% | +56.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.39 | 1.48 | 1.41 | 1.39 | 1.40 | 1.43 | 1.36 | 1.31 | 1.32 | 1.37 | 1.32 | 1.39 | 1.71 | 1.67 | 1.45 | 1.46 | 1.44 | 1.34 | 1.30 | 1.37 | 1.46 |
| — | +3.1% | +3.4% | +6.4% | +6.4% | +4.4% | +2.7% | -6.1% | -22.8% | -17.7% | -8.4% | -4.5% | +18.3% | +24.3% | +11.6% | +6.2% | -1.3% | -4.1% | -20.1% | -19.4% | -25.3% | |
| Debt / EBITDA | 5.41 | 29.76 | 15.14 | 19.55 | 26.08 | 28.67 | 14.62 | 20.09 | 27.91 | 27.48 | 15.71 | 22.79 | 29.87 | 31.40 | 15.69 | 19.82 | 30.08 | 28.73 | 12.30 | 21.15 | 28.64 |
| — | +3.8% | +3.5% | -2.7% | -6.6% | +4.3% | -6.9% | -11.9% | -6.6% | -12.5% | +0.2% | +15.0% | -0.7% | +9.3% | +27.5% | -6.3% | +5.0% | +2.1% | -22.1% | -14.6% | -26.3% | |
| Current Ratio | 0.69 | 0.50 | 0.65 | 0.69 | 0.52 | 0.59 | 0.52 | 0.51 | 0.46 | 0.78 | 0.66 | 0.85 | 0.41 | 0.45 | 0.60 | 0.55 | 0.57 | 0.63 | 0.72 | 0.70 | 0.65 |
| — | -14.9% | +25.5% | +36.0% | +12.8% | -24.4% | -21.9% | -40.8% | +12.3% | +70.8% | +10.2% | +54.1% | -27.5% | -28.4% | -17.1% | -20.7% | -13.0% | -21.8% | +2.3% | -3.9% | -20.0% | |
| Quick Ratio | 0.56 | 0.41 | 0.56 | 0.56 | 0.39 | 0.48 | 0.45 | 0.41 | 0.35 | 0.63 | 0.56 | 0.76 | 0.29 | 0.34 | 0.50 | 0.39 | 0.37 | 0.47 | 0.62 | 0.52 | 0.45 |
| — | -15.1% | +24.6% | +35.6% | +10.6% | -23.7% | -18.4% | -45.8% | +21.2% | +83.8% | +10.8% | +93.0% | -20.6% | -27.6% | -19.1% | -24.1% | -17.9% | -23.7% | +3.9% | -6.2% | -36.7% | |
| Interest Coverage | 2.90 | 1.24 | 4.35 | 2.58 | 1.71 | 1.89 | 5.76 | 3.18 | 1.84 | 1.93 | 5.10 | 2.70 | 1.79 | 1.55 | 4.89 | 3.54 | 1.82 | 1.80 | 7.30 | 3.31 | 1.91 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NI stock.
NiSource Inc's current P/E is 22.4x. The average P/E over the last 4 quarters is 54.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
NiSource Inc's current operating margin is 27.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking NiSource Inc's business trajectory between earnings reports.