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 22,212 - -
Change - 2.71% -1.44% 56.33% 16.14% 11.47% - -
Enterprise Value (EV) 1 20,549 22,376 22,823 30,920 36,005 41,155 43,462 46,310
Change - 8.89% 2% 35.48% 16.45% 14.3% 5.6% 6.55%
P/E ratio 21.7x 16.1x 17.9x 22.7x 21.4x 22.6x 20.5x 18.8x
PBR 1.61x 1.49x 1.44x 1.99x 2.11x 2.19x 1.82x 1.69x
PEG - 0.5x -1.4x 2.4x 1.1x 4.32x 2.06x 2.01x
Capitalization / Revenue 2.21x 1.91x 1.97x 3.11x 3.01x 3.12x 2.95x 2.79x
EV / Revenue 4.19x 3.84x 4.1x 5.61x 5.45x 5.78x 5.78x 5.82x
EV / EBITDA 11.3x 11.4x 10.1x 12.1x 12.1x 12.2x 11.6x 11x
EV / EBIT 19.3x 19.5x 16.8x 20.4x 20x 20.2x 19x 17.7x
EV / FCF -33.1x -28.2x -32.1x -37.1x -85.8x -17.5x -20.5x -22.4x
FCF Yield -3.02% -3.55% -3.11% -2.69% -1.17% -5.7% -4.87% -4.45%
Dividend per Share 2 0.895 - 1.015 1.06 1.12 1.197 1.283 1.381
Rate of return 3.24% - 3.82% 2.88% 2.68% 2.58% 2.77% 2.98%
EPS 2 1.27 1.7 1.48 1.62 1.95 2.052 2.256 2.468
Distribution rate 70.5% - 68.6% 65.4% 57.4% 58.3% 56.9% 56%
Net sales 1 4,901 5,834 5,566 5,516 6,610 7,115 7,526 7,960
EBITDA 1 1,811 1,968 2,264 2,559 2,970 3,387 3,737 4,228
EBIT 1 1,063 1,147 1,356 1,516 1,803 2,040 2,287 2,623
Net income 1 529.8 749 661.7 739.7 929.5 998.8 1,118 1,253
Net Debt 1 9,707 11,240 11,847 13,762 16,078 18,943 21,249 24,097
Reference price 2 27.61 27.42 26.55 36.76 41.76 46.33 46.33 46.33
Nbr of stocks (in thousands) 392,705 406,134 413,415 466,779 477,196 479,439 - -
Announcement Date 23/02/22 22/02/23 21/02/24 12/02/25 11/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.58x5.78x12.15x2.58% 22.21B
13.42x5.52x12.03x4.14% 79.89B
14.12x1.56x8.02x5.19% 75.24B
30.53x5.72x15.54x1.86% 72.54B
17.74x6.92x14.51x2.92% 59.4B
16.47x1.15x9.54x3.28% 54.45B
22.07x2.55x9.34x2.35% 45.81B
66.82x22.33x38.78x0.28% 41.26B
18.07x5.16x13.05x3.4% 39.16B
16.66x4.86x9.45x4.74% 35.93B
Average 23.85x 6.16x 14.24x 3.07% 52.59B
Weighted average by Cap. 22.58x 5.69x 13.73x 3.21%

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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