Nisource (NI) Operating Expenses (2009 - 2026)
Nisource (NI) recorded Operating Expenses of $1.11 billion in Q2 2026, up 9.2% from $1.02 billion a year earlier but down 27.8% from the prior quarter.
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Analysis
Nisource (NI) Operating Expenses (2009 - 2026) Analysis & Trends
On a TTM basis, Nisource's Operating Expenses came in at $5.02 billion as of Jun 30, 2026, up 12.3% year-over-year; for FY2025, it came in at $4.81 billion, up 20.2% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 3.1% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $4 billion in FY2024 (-5.0%), $4.21 billion in FY2023 (-8.2%), $4.58 billion in FY2022 (+17.8%) and $3.89 billion in FY2021 (-5.8%).
- Quarterly Operating Expenses has ranged from $794.4 million in Q3 2023 to $1.54 billion in Q1 2026 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for eight consecutive quarters, with growth averaging 14.4% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 26.8% in Q1 2025, against a decline of 21.7% in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $1.54 billion (Q1 2026), $1.39 billion (Q4 2025) and $975.6 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 293.96 Bn | 293.96 Bn | 890.00 Mn | -140.00 Mn |
| 2 | National Grid | 78.23 Bn | 59.76 Bn | - | - |
| 3 | Dominion Energy | 53.03 Bn | 55.71 Bn | - | 4.15 Bn |
| 4 | Xcel Energy | 43.33 Bn | 38.23 Bn | - | 2.41 Bn |
| 5 | Wec Energy | 33.06 Bn | 33.29 Bn | 1.51 Bn | 1.63 Bn |
| 6 | Ameren | 27.51 Bn | 27.60 Bn | - | 1.63 Bn |
| 7 | Fortis | 26.94 Bn | 27.43 Bn | 1.60 Bn | 626.05 Mn |
| 8 | Atmos Energy | 26.53 Bn | 25.30 Bn | 870.85 Mn | - |
| 9 | American Water Works Company | 25.62 Bn | 25.03 Bn | - | 813.00 Mn |
| 10 | Nisource | 18.75 Bn | 20.72 Bn | 1.15 Bn | 1.11 Bn |
Historic Data
Download Data
Historic 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 |
API Access
Nisource Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=NI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "NI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=NI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();