NI PEER ANALYSIS

NiSource Inc — metric-by-metric comparison with peers and the industry median

NINiSource Inc

🇺🇸 USA · US · Utilities · Utilities - Regulated Gas

Value it Duel

Overall Profile & Returns

· Utilities - Regulated Gas

Position Within Industry

0 = weak quartile, 100 = strong quartile

NIIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	NI	NTGY	APA	ENG	AHGAZ	ENERY	Ind. Median
P/E	23.95	12.94●	79.77	16.97	21.95	14.67	17.48
P/B	2.38	3.20	4.66	1.98	1.09●	1.18	1.44
EV/EBITDA	12.72	—	12.47	9.13	3.21●	7.65	10.97
P/S	3.37	1.31●	4.07	4.56	1.84	2.05	2.10

Financial Health
Metric	NI	NTGY	APA	ENG	AHGAZ	ENERY	Ind. Median
Current Ratio	0.65	1.13●	0.99	0.81	1.03	0.66	0.80
Debt/Equity	173.6%	—	478.5%	119.4%	9.6%	4.6%●	109.5%
NetDebt/EBITDA	5.35	—	6.27	2.93	-2.09●	-0.51	4.23

Profitability
Metric	NI	NTGY	APA	ENG	AHGAZ	ENERY	Ind. Median
Net Margin	14.1%	10.1%	5.1%	26.9%●	8.4%	14.0%	11.8%
ROE	10.4%	25.1%●	5.8%	11.7%	6.5%	10.5%	10.0%
ROA	2.8%	5.1%	0.8%	3.8%	2.4%	6.4%●	3.8%
EBITDA Margin	45.7%	26.7%	65.8%	73.6%●	34.8%	25.1%	34.8%

Growth + Dividend
Metric	NI	NTGY	APA	ENG	AHGAZ	ENERY	Ind. Median
Rev. Growth	15.0%	-0.7%	0.1%	8.0%	41.3%●	38.2%	4.5%
NI Growth	10.5%	1.4%	—	—	72.1%●	62.5%	18.9%
Div. Yield	1.8%	5.4%	5.8%●	0.0%	0.0%	0.0%	3.5%
Payout	56.9%	70.1%	305.6%	0.1%	0.0%	0.0%	56.7%

Valuation
Metric	NI	ATO	UGI	SWX	NJR	BKH	Ind. Median
P/E	23.95	22.05	12.21●	14.04	17.09	19.34	17.48
P/B	2.38	1.99	1.44	1.59	2.20	1.41●	1.44
EV/EBITDA	12.72	15.18	9.64●	10.11	12.42	12.30	10.97
P/S	3.37	6.08	1.06●	2.60	2.64	2.44	2.10

Financial Health
Metric	NI	ATO	UGI	SWX	NJR	BKH	Ind. Median
Current Ratio	0.65	1.00	1.00	1.45●	0.94	0.65	0.80
Debt/Equity	173.6%	64.6%●	125.3%	85.5%	142.1%	118.0%	109.5%
NetDebt/EBITDA	5.35	3.68	4.30	3.21●	4.77	5.57	4.23

Profitability
Metric	NI	ATO	UGI	SWX	NJR	BKH	Ind. Median
Net Margin	14.1%	27.6%●	8.7%	18.5%	15.4%	12.6%	11.8%
ROE	10.4%	9.6%	12.3%	12.1%	13.3%●	7.6%	10.0%
ROA	2.8%	4.7%●	4.0%	4.1%	4.5%	2.8%	3.8%
EBITDA Margin	45.7%	52.9%●	19.9%	37.7%	34.5%	36.3%	34.8%

Growth + Dividend
Metric	NI	ATO	UGI	SWX	NJR	BKH	Ind. Median
Rev. Growth	15.0%●	8.8%	0.6%	-39.1%	8.5%	3.6%	4.5%
NI Growth	10.5%	18.4%	20.3%	106.4%●	-17.8%	3.1%	18.9%
Div. Yield	1.8%	2.2%	4.4%●	2.8%	3.3%	3.7%	3.5%
Payout	56.9%	44.9%	50.2%	38.5%	54.4%	70.2%	56.7%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.