Nisource (NI) Operating Margin (2009 - 2026)
Nisource (NI) posted Operating Margin of 35.28% for Q1 2026, up 346.35% quarter-over-quarter from 7.9% in Q4 2025, and up 49.0% year-on-year from 23.67% in Q1 2025.
Nisource (NI) Operating Margin (2009 - 2026) Analysis & Trends
Nisource (NI) has reported Operating Margin for 18 consecutive years, with 35.28% the latest figure, recorded in Q1 2026.
- Operating Margin for Q1 2026 came in at 35.28%, up 49.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 16.67% (down 38.0% YoY), and the FY2025 annual result was 28.14%, up 146.0% from the prior year.
- Operating Margin was 35.28% for Q1 2026 at Nisource, up from 7.9% in the prior quarter.
- Over five years, Operating Margin peaked at 35.51% in Q1 2024 and troughed at 7.89% in Q4 2024.
- Average Operating Margin over 5 years is 22.49%, with a median of 22.48% recorded in 2024.
- Year-over-year, Operating Margin soared 886 bps in 2023 and slumped 1835 bps in 2024.
- Over 5 years, Operating Margin stood at 21.44% in 2022, then advanced by 22 bps to 26.24% in 2023, then sank by 70 bps to 7.89% in 2024, then gained by 0 bps to 7.9% in 2025, then surged by 346 bps to 35.28% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 35.28% in Q1 2026, 7.9% in Q4 2025, and 23.99% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.80 Bn | 28.68 Bn | - | 38.97% |
| 2 | Nisource | 22.46 Bn | 24.65 Bn | 1.83 Bn | 35.28% |
| 3 | Ugi | 7.39 Bn | 6.84 Bn | 1.50 Bn | 28.23% |
| 4 | New Jersey Resources | 5.67 Bn | 5.53 Bn | 826.91 Mn | 32.04% |
| 5 | Black Hills | 5.61 Bn | 5.58 Bn | - | 25.86% |
| 6 | ONE Gas | 4.80 Bn | 4.77 Bn | 438.14 Mn | 22.80% |
| 7 | Mdu Resources | 4.26 Bn | 4.20 Bn | - | 19.09% |
| 8 | Chesapeake Utilities | 2.94 Bn | 2.94 Bn | 102.40 Mn | 39.87% |
| 9 | Centuri Holdings | 2.87 Bn | 2.82 Bn | 35.76 Mn | -0.66% |
| 10 | Rgc Resources | 248.35 Mn | 244.36 Mn | 39.84 Mn | 24.82% |
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% |