Nisource (NI) EBITDA Margin (2009 - 2026)
Nisource (NI) reported EBITDA Margin of 35.28% for Q1 2026, up 49.0% on a YoY basis from 23.67% in Q1 2025, and up 346.35% quarter-over-quarter from 7.9% in Q4 2025.
Nisource (NI) EBITDA Margin (2009 - 2026) Analysis & Trends
Nisource has reported EBITDA Margin for 18 years, with the latest figure at 35.28% in Q1 2026.
- For the quarter ending Q1 2026, EBITDA Margin rose 49.0% year-over-year to 35.28%; the trailing twelve-month figure through Mar 2026 stood at 16.67% (down 38.0% YoY), and the FY2025 full-year result was 43.6%, up 188.0% from the prior year.
- EBITDA Margin for Q1 2026 stood at 35.28%, up from 7.9% in the prior quarter.
- The five-year high for EBITDA Margin was 35.51% in Q1 2024, with the low at 7.89% in Q4 2024.
- Historically, EBITDA Margin has averaged 22.49% across 5 years, with a median of 22.48% in 2024.
- Annual changes were most pronounced in 2023 — EBITDA Margin jumped 886 bps — and 2024, when it plunged 1835 bps.
- Nisource's EBITDA Margin stood at 21.44% in 2022, then increased by 22 bps to 26.24% in 2023, then slumped by 70 bps to 7.89% in 2024, then grew by 0 bps to 7.9% in 2025, then surged by 346 bps to 35.28% in 2026.
- The last three EBITDA Margin figures came in at 35.28% (Q1 2026), 7.9% (Q4 2025), and 23.99% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.34 Bn | 28.21 Bn | - | 29.40% |
| 2 | Nisource | 22.33 Bn | 24.52 Bn | 1.83 Bn | 35.28% |
| 3 | Ugi | 7.49 Bn | 6.94 Bn | 1.50 Bn | 28.23% |
| 4 | New Jersey Resources | 5.59 Bn | 5.45 Bn | 826.91 Mn | 32.04% |
| 5 | Black Hills | 5.49 Bn | 5.46 Bn | - | 25.86% |
| 6 | ONE Gas | 4.93 Bn | 4.91 Bn | 438.14 Mn | 22.80% |
| 7 | Mdu Resources | 4.39 Bn | 4.33 Bn | - | 19.09% |
| 8 | Centuri Holdings | 3.01 Bn | 2.95 Bn | 35.76 Mn | -0.66% |
| 9 | Chesapeake Utilities | 2.96 Bn | 2.96 Bn | 102.40 Mn | 39.87% |
| 10 | Brookfield Infrastructure | 426.14 Mn | 3.22 Bn | 539.00 Mn | 63.35% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 35.28% |
| Dec 31, 2025 | 7.90% |
| Sep 30, 2025 | 23.99% |
| Jun 30, 2025 | 20.49% |
| Mar 31, 2025 | 34.78% |
| Dec 31, 2024 | 7.89% |
| Sep 30, 2024 | 20.87% |
| Jun 30, 2024 | 22.48% |
| Mar 31, 2024 | 35.51% |
| Dec 31, 2023 | 26.24% |
| Sep 30, 2023 | 23.24% |
| Jun 30, 2023 | 15.83% |
| Mar 31, 2023 | 27.01% |
| Dec 31, 2022 | 21.44% |
| Sep 30, 2022 | 14.38% |
| Jun 30, 2022 | 12.39% |
| Mar 31, 2022 | 32.62% |
| Dec 31, 2021 | 18.69% |
| Sep 30, 2021 | 16.01% |
| Jun 30, 2021 | 14.42% |