NI

NYSE

NISOURCE INC.

Utilities, Multi-Utilities

$42.61

close 7 Aug 2026

+1.09%

52-week change

$20.43B

market cap

$38.45

$49.21

52-week range

Expected price

$36.16 – $44.20

Current price

$42.61

Signal

Appears fairly valued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)22.66x

P/S (TTM)1.80x

P/B2.13x

EV/EBITDA (TTM)11.83x

FCF yield (TTM)-5.32%

PEG (TTM, GAAP)4.84

Context

P/E, own 5-year average21.70x

P/E, sector median21.33x*

Price at 5-year median P/E$39.76*

Indicated dividend yield2.82%

Forward — analyst consensus

Forward P/E (FY2026)20.73x*

Forward P/E (FY2027)18.91x

Forward PEG2.16*

Consensus EPS FY2026 (14 analysts)$2.06

EPS growth (FY2026→FY2027)9.58%

Revenue growth (FY2026)11.94%

Street view

Price target (mean)$50.37*

Target upside18.20%

Ratings (buy / hold / sell)13 / 3 / 0

FY2026 EPS revisions, 30d (up / down)2 / 2

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 30 Jun 2026, filed 5 Aug 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$42.61

Cash & equivalents$70.00M

Total debt$16.71B

Shares outstanding479.50M

Result

DCF price per share-$86.02

Current price$42.61

Margin of safety-301.88%

PV of years 1–10-$9.33B

PV of terminal value-$15.27B

Equity value-$41.25B

Market-implied growth—

The base free cash flow is not positive; growing a negative flow is rarely a meaningful valuation.

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	-$1.14B	-$1.20B	-$1.26B	-$1.32B	-$1.39B	-$1.46B	-$1.53B	-$1.60B	-$1.69B	-$1.77B	-$32.97B
PV	-$1.06B	-$1.03B	-$998.17M	-$970.45M	-$943.49M	-$917.28M	-$891.80M	-$867.03M	-$842.95M	-$819.53M	-$15.27B

period to 30 Jun 2026, filed 5 Aug 2026, close 7 Aug 2026