Nisource (NI) Operating Expenses (2009 - 2026)
Nisource's (NI) quarterly Operating Expenses came in at $1.5 billion in Q1 2026, up 8.44% YoY from $1.4 billion in Q1 2025, and up 11.28% on a QoQ basis from $1.4 billion in Q4 2025.
Nisource (NI) Operating Expenses (2009 - 2026) Analysis & Trends
Nisource (NI) has 18 years of Operating Expenses data on file, last reported at $1.5 billion in Q1 2026.
- Quarterly Operating Expenses rose 8.44% year-over-year to $1.5 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $4.9 billion (up 14.57% YoY) and the FY2025 annual result came in at $4.8 billion, up 20.18% from the prior year.
- Operating Expenses advanced to $1.5 billion in Q1 2026, from $1.4 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.5 billion in Q1 2026 to a low of $794.4 million in Q3 2023.
- A 5-year average of $1.1 billion and a median of $1.1 billion in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2024 — Operating Expenses declined 21.75% — and 2025, when it grew 26.8%.
- Tracing NI's Operating Expenses over 5 years: stood at $1.3 billion in 2022, then decreased by 20.89% to $1.1 billion in 2023, then gained by 10.53% to $1.2 billion in 2024, then grew by 18.48% to $1.4 billion in 2025, then advanced by 11.28% to $1.5 billion in 2026.
- The last three Operating Expenses figures came in at $1.5 billion (Q1 2026), $1.4 billion (Q4 2025), and $975.6 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.90 Bn | 28.37 Bn | - | - |
| 2 | Nisource | 20.09 Bn | 20.02 Bn | 867.50 Mn | 1.11 Bn |
| 3 | Ugi | 8.29 Bn | 7.81 Bn | 573.00 Mn | 1.38 Bn |
| 4 | New Jersey Resources | 5.60 Bn | 5.56 Bn | 243.61 Mn | 317.29 Mn |
| 5 | Black Hills | 5.60 Bn | 5.52 Bn | - | 355.80 Mn |
| 6 | ONE Gas | 5.13 Bn | 5.10 Bn | 272.01 Mn | 238.68 Mn |
| 7 | Mdu Resources | 4.32 Bn | 4.27 Bn | - | 327.36 Mn |
| 8 | Chesapeake Utilities | 3.31 Bn | 3.29 Bn | 150.20 Mn | 149.00 Mn |
| 9 | Centuri Holdings | 2.23 Bn | 2.19 Bn | 69.14 Mn | 37.24 Mn |
| 10 | Brookfield Infrastructure | 2.21 Bn | 1.44 Bn | 572.00 Mn | 22.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.11 Bn |
| Mar 31, 2026 | 1.54 Bn |
| Dec 31, 2025 | 1.39 Bn |
| Sep 30, 2025 | 975.60 Mn |
| Jun 30, 2025 | 1.02 Bn |
| Mar 31, 2025 | 1.42 Bn |
| Dec 31, 2024 | 1.17 Bn |
| Sep 30, 2024 | 858.00 Mn |
| Jun 30, 2024 | 847.70 Mn |
| Mar 31, 2024 | 1.12 Bn |
| Dec 31, 2023 | 1.06 Bn |
| Sep 30, 2023 | 794.40 Mn |
| Jun 30, 2023 | 921.10 Mn |
| Mar 31, 2023 | 1.44 Bn |
| Dec 31, 2022 | 1.34 Bn |
| Sep 30, 2022 | 932.80 Mn |
| Jun 30, 2022 | 1.04 Bn |
| Mar 31, 2022 | 1.27 Bn |
| Dec 31, 2021 | 1.12 Bn |
| Sep 30, 2021 | 812.30 Mn |