Company Valuation: NiSource, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,843 11,136 10,976 17,159 19,928 19,480 - -
Change - 2.71% -1.44% 56.33% 16.14% -2.25% - -
Enterprise Value (EV) 1 20,549 22,376 22,823 30,920 36,005 38,713 41,451 44,597
Change - 8.89% 2% 35.48% 16.45% 7.52% 7.07% 7.59%
P/E 21.7x 16.1x 17.9x 22.7x 21.4x 20x 18x 16.4x
PBR 1.61x 1.49x 1.44x 1.99x 2.11x 1.73x 1.62x 1.51x
PEG - 0.5x -1.4x 2.4x 1.1x 4.88x 1.6x 1.7x
Capitalization / Revenue 2.21x 1.91x 1.97x 3.11x 3.01x 2.71x 2.56x 2.43x
EV / Revenue 4.19x 3.84x 4.1x 5.61x 5.45x 5.38x 5.45x 5.57x
EV / EBITDA 11.3x 11.4x 10.1x 12.1x 12.1x 11.5x 11.2x 10.7x
EV / EBIT 19.3x 19.5x 16.8x 20.4x 20x 19.3x 19.2x 18.2x
EV / FCF -33.1x -28.2x -32.1x -37.1x -85.8x -16.6x -18.8x -20.8x
FCF Yield -3.02% -3.55% -3.11% -2.69% -1.17% -6.04% -5.33% -4.82%
Dividend per Share 2 0.895 - 1.015 1.06 1.12 1.204 1.286 1.374
Rate of return 3.24% - 3.82% 2.88% 2.68% 2.96% 3.17% 3.38%
EPS 2 1.27 1.7 1.48 1.62 1.95 2.03 2.257 2.474
Distribution rate 70.5% - 68.6% 65.4% 57.4% 59.3% 57% 55.5%
Net sales 1 4,901 5,834 5,566 5,516 6,610 7,192 7,607 8,003
EBITDA 1 1,811 1,968 2,264 2,559 2,970 3,356 3,709 4,174
EBIT 1 1,063 1,147 1,356 1,516 1,803 2,004 2,154 2,444
Net income 1 529.8 749 661.7 739.7 929.5 978.4 1,116 1,252
Net Debt 1 9,707 11,240 11,847 13,762 16,078 19,233 21,971 25,117
Reference price 2 27.61 27.42 26.55 36.76 41.76 40.62 40.62 40.62
Nbr of stocks (in thousands) 392,705 406,134 413,415 466,779 477,196 479,560 - -
Announcement Date 2/23/22 2/22/23 2/21/24 2/12/25 2/11/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.01x5.38x11.54x2.96% 19.48B
37.07x6.33x17.08x1.65% 81.42B
13.08x5.55x11.97x4.23% 79.42B
13.27x1.49x7.75x5.56% 71.8B
16.47x6.4x13.75x3.18% 54.2B
15.8x1.09x9.1x3.39% 53.13B
19.63x2.77x9.07x2.3% 47.55B
62.29x20.12x34.12x0.36% 38.04B
15.96x4.98x9.63x4.64% 36.75B
17.25x4.82x12.64x3.67% 36.19B
Average 23.08x 5.89x 13.66x 3.2% 51.8B
Weighted average by Cap. 22.48x 5.46x 13.30x 3.29%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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