Nisource (NI) Gross Margin (2009 - 2026)
Nisource's (NI) quarterly Gross Margin came in at 71.18% in Q1 2026, up 84.0% YoY from 38.69% in Q1 2025, and down 23.25% on a QoQ basis from 92.75% in Q4 2025.
Nisource (NI) Gross Margin (2009 - 2026) Analysis & Trends
Nisource (NI) has 18 years of Gross Margin data on file, last reported at 71.18% in Q1 2026.
- Quarterly Gross Margin rose 84.0% year-over-year to 71.18% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 86.02% (down 7.0% YoY) and the FY2025 annual result came in at 76.15%, down 242.0% from the prior year.
- Gross Margin declined to 71.18% in Q1 2026, from 92.75% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 93.1% in Q4 2024 to a low of 59.65% in Q1 2023.
- A 5-year average of 75.73% and a median of 75.76% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 921 bps — and 2024, when it soared 1734 bps.
- Tracing NI's Gross Margin over 5 years: stood at 61.61% in 2022, then rose by 23 bps to 75.76% in 2023, then grew by 23 bps to 93.1% in 2024, then dropped by 0 bps to 92.75% in 2025, then dropped by 23 bps to 71.18% in 2026.
- The last three Gross Margin figures came in at 71.18% (Q1 2026), 92.75% (Q4 2025), and 84.39% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.89 Bn | 28.37 Bn | - | - |
| 2 | Nisource | 20.09 Bn | 20.02 Bn | 867.50 Mn | 64.62% |
| 3 | Ugi | 8.16 Bn | 7.68 Bn | 573.00 Mn | 43.05% |
| 4 | Black Hills | 5.61 Bn | 5.53 Bn | - | - |
| 5 | New Jersey Resources | 5.56 Bn | 5.52 Bn | 243.61 Mn | 69.77% |
| 6 | ONE Gas | 5.16 Bn | 5.13 Bn | 272.01 Mn | 66.08% |
| 7 | Mdu Resources | 4.30 Bn | 4.25 Bn | - | - |
| 8 | Chesapeake Utilities | 3.30 Bn | 3.29 Bn | 150.20 Mn | 74.39% |
| 9 | Centuri Holdings | 2.21 Bn | 2.17 Bn | 69.14 Mn | 7.19% |
| 10 | Brookfield Infrastructure | 2.20 Bn | 1.44 Bn | 572.00 Mn | 60.85% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 85.58% |
| Mar 31, 2026 | 71.18% |
| Dec 31, 2025 | 92.75% |
| Sep 30, 2025 | 84.39% |
| Jun 30, 2025 | 79.59% |
| Mar 31, 2025 | 70.34% |
| Dec 31, 2024 | 93.10% |
| Sep 30, 2024 | 84.14% |
| Jun 30, 2024 | 84.38% |
| Mar 31, 2024 | 74.13% |
| Dec 31, 2023 | 75.76% |
| Sep 30, 2023 | 82.35% |
| Jun 30, 2023 | 76.89% |
| Mar 31, 2023 | 59.65% |
| Dec 31, 2022 | 61.61% |
| Sep 30, 2022 | 68.74% |
| Jun 30, 2022 | 66.82% |
| Mar 31, 2022 | 61.60% |
| Dec 31, 2021 | 66.00% |
| Sep 30, 2021 | 77.33% |