Capital investment and capacitynegative · 1 filings
“easurement of segment profit or loss, Operating Income.”10-K · Feb 11, 2026 ↗
NiSource Inc.
NI
Market read
NiSource Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Company-0.0% todayVolume comparison unavailable
Market group0 of 5 activeUtilities - Regulated Electric · unavailable
Disclosed network0 of 5 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- NI's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if NI's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 5 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- NI's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations602
Usable filing statements22
Verified relationships5
Evidence supporting the case
- Latest annual revenue changed +23.5% year over year.
- Operating cash flow covered net income at 2.54x in the latest annual period.
Evidence challenging the case
- Diluted shares increased 4.1% in the latest annual period.
Questions before a position
No credible peer-relative valuation comparison is available yet.
Longer-term price context
Price as of Sep 11, 2026
41.426m-11.3%12m+1.7%24m+24.7%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$4.7B+5.8%$1.27+8.6%
2022-12-31$5.7B+21.3%$1.70+6.1%
2023-12-31$5.3B-6.8%$1.48+1.2%
2024-12-31$5.3B-1.2%$1.62+1.8%
2025-12-31$6.5B+23.5%$1.95+4.1%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesnegative · 1 filings
“Based upon average borrowings and debt obligations subject to fluctuations in short-term market interest rates, an increase (or decrease) in short-term interest rates of 100 basis points (1%) would have increased (or decreased) interest expense by $2.0 millio…”10-Q · May 6, 2026 ↗
Demand and volumepositive · 1 filings
“Primarily relates to the difference between defined benefit plan expense recorded by certain subsidiaries due to regulatory orders and the corresponding expense that would otherwise be recorded in accordance with GAAP.”10-K · Feb 11, 2026 ↗
Legal and regulatory exposurepositive · 1 filings
“The increase in the ITC / PTC regulatory adjustment in 2024 versus 2023 was primarily due to the regulatory liability established for the Cavalry tax credits generated in 2024.”10-K · Feb 11, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
41.42-0.0% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for NI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for NI. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind NI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
GNKGenco Shipping & Trading LimitedpartnerFeb 11, 2026 ▾
“We advanced our Data Center strategy significantly by creating our GenCo affiliate, whose goal is to build capacity to serve large load customers.”
GNKGenco Shipping & Trading LimitedinvesteeFeb 11, 2026 ▾
“In October 2025, the GenCo Minority Interest Transaction closed and a 19.9 % equity interest in Generation Holdings II, the sole owner of GenCo, was issued to affiliates of Blackstone.”
Depended on by
CTRICenturi Holdings, Inc.customerFeb 26, 2026 ▾
“Our customers include American Electric Power, Enbridge, Entergy, Exelon, NiSource, National Grid, Sempra Energy and Southern Company, among others.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
NI is currently a Follower in the organic co-movement group Utilities - Regulated Electric. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.