Nisource (NI) Gross Margin (2009 - 2026)
Nisource (NI) reported Gross Margin of 78.93% for Q1 2026, down 147.0% on a YoY basis from 167.95% in Q1 2025, and down 14.77% quarter-over-quarter from 92.62% in Q4 2025.
Nisource (NI) Gross Margin (2009 - 2026) Analysis & Trends
Nisource has reported Gross Margin for 18 years, with the latest figure at 78.93% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 147.0% year-over-year to 78.93%; the trailing twelve-month figure through Mar 2026 stood at 85.63% (down 3.0% YoY), and the FY2025 full-year result was 75.71%, up 349.0% from the prior year.
- Gross Margin for Q1 2026 stood at 78.93%, down from 92.62% in the prior quarter.
- The five-year high for Gross Margin was 92.62% in Q4 2025, with the low at 65.84% in Q3 2024.
- Historically, Gross Margin has averaged 77.25% across 5 years, with a median of 78.57% in 2022.
- The largest YoY upside for Gross Margin was 1422 bps in 2022 against a maximum downside of 987 bps in 2022.
- Nisource's Gross Margin stood at 78.57% in 2022, then retreated by 0 bps to 78.54% in 2023, then increased by 17 bps to 92.02% in 2024, then increased by 1 bps to 92.62% in 2025, then slipped by 15 bps to 78.93% in 2026.
- The last three Gross Margin figures came in at 78.93% (Q1 2026), 92.62% (Q4 2025), and 67.66% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.34 Bn | 28.21 Bn | - | - |
| 2 | Nisource | 22.33 Bn | 24.52 Bn | 1.83 Bn | 78.93% |
| 3 | Ugi | 7.49 Bn | 6.94 Bn | 1.50 Bn | 55.79% |
| 4 | New Jersey Resources | 5.59 Bn | 5.45 Bn | 826.91 Mn | 88.02% |
| 5 | Black Hills | 5.49 Bn | 5.46 Bn | - | - |
| 6 | ONE Gas | 4.93 Bn | 4.91 Bn | 438.14 Mn | 52.68% |
| 7 | Mdu Resources | 4.39 Bn | 4.33 Bn | - | - |
| 8 | Centuri Holdings | 3.01 Bn | 2.95 Bn | 35.76 Mn | 4.94% |
| 9 | Chesapeake Utilities | 2.96 Bn | 2.96 Bn | 102.40 Mn | 41.08% |
| 10 | Brookfield Infrastructure | 426.14 Mn | 3.22 Bn | 539.00 Mn | 60.97% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 78.93% |
| Dec 31, 2025 | 92.62% |
| Sep 30, 2025 | 67.66% |
| Jun 30, 2025 | 79.59% |
| Mar 31, 2025 | 80.40% |
| Dec 31, 2024 | 92.02% |
| Sep 30, 2024 | 65.84% |
| Jun 30, 2024 | 84.38% |
| Mar 31, 2024 | 76.97% |
| Dec 31, 2023 | 78.54% |
| Sep 30, 2023 | 65.97% |
| Jun 30, 2023 | 76.40% |
| Mar 31, 2023 | 80.10% |
| Dec 31, 2022 | 78.57% |
| Sep 30, 2022 | 69.64% |
| Jun 30, 2022 | 66.98% |
| Mar 31, 2022 | 78.57% |
| Dec 31, 2021 | 64.35% |
| Sep 30, 2021 | 61.79% |
| Jun 30, 2021 | 76.85% |