As at Jul 13, 2026, the NI stock has a price-to-earnings ratio of 23.3. This is based on the current EPS of $2.02 and the stock price of $47.07 per share. An increase of 6% has been recorded in the PE ratio compared to the average of 22.1 of the past four quarters.
NI PE ratio history
The mean historical PE ratio of Nisource over the last ten years is 28.73. The current 23.3 price-to-earnings ratio is 19% less than the historical average. In the past ten years, NI's PE ratio reached its highest point in the Jun 2019 quarter at 92.9, with a price of $28.8 and an EPS of $0.31. The Dec 2022 quarter saw the lowest point at 14.9, with a price of $27.42 and an EPS of $1.84.
Nisource PE ratio by year
Maximum annual increase: 206.14% in 2017
Maximum annual decrease: -27.14% in 2022
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 21.31 | -5.5% | $41.76 | $1.96 |
| 2024 | 22.55 | 35.03% | $36.76 | $1.63 |
| 2023 | 16.7 | 12.08% | $26.55 | $1.59 |
| 2022 | 14.9 | -27.14% | $27.42 | $1.84 |
| 2021 | 20.45 | N/A | $27.61 | $1.35 |
| 2020 | N/A | N/A | $22.94 | -$0.19 |
| 2019 | 31.64 | N/A | $27.84 | $0.88 |
| 2018 | N/A | N/A | $25.35 | -$0.18 |
| 2017 | 65.82 | 206.14% | $25.67 | $0.39 |
| 2016 | 21.5 | -0.83% | $22.14 | $1.03 |
| 2015 | 21.68 | -14.14% | $19.51 | $0.9 |
| 2014 | 25.25 | 30.56% | $42.42 | $1.68 |
| 2013 | 19.34 | 11.09% | $32.88 | $1.7 |
| 2012 | 17.41 | -22.48% | $24.89 | $1.43 |
| 2011 | 22.46 | 30.05% | $23.81 | $1.06 |
Nisource PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 23.1 | 8.4% | $46.66 | $2.02 |
| Dec 2025 | 21.31 | -6% | $41.76 | $1.96 |
| Sep 2025 | 22.67 | 6.78% | $43.3 | $1.91 |
| Jun 2025 | 21.23 | -0.98% | $40.34 | $1.9 |
| Mar 2025 | 21.44 | -4.92% | $40.09 | $1.87 |
| Dec 2024 | 22.55 | 10% | $36.76 | $1.63 |
| Sep 2024 | 20.5 | 20.23% | $34.65 | $1.69 |
| Jun 2024 | 17.05 | -1.39% | $28.81 | $1.69 |
| Mar 2024 | 17.29 | 3.53% | $27.66 | $1.6 |
| Dec 2023 | 16.7 | 9.65% | $26.55 | $1.59 |
| Sep 2023 | 15.23 | -13.12% | $24.68 | $1.62 |
| Jun 2023 | 17.53 | -0.28% | $27.35 | $1.56 |
| Mar 2023 | 17.58 | 17.99% | $27.96 | $1.59 |
| Dec 2022 | 14.9 | -1.19% | $27.42 | $1.84 |
| Sep 2022 | 15.08 | -14.61% | $25.19 | $1.67 |
NI Price vs fair value
NI average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of NI is above its 3 and 5-year historical averages, but it is lower than the 10-year average.
PE comparison
With a P/E of 23.3, NI stands above the Utilities sector and the industry average but below its peers average. Looking at its Utilities sector average of 20.33, Nisource's P/E is 15% higher.
NI PE vs peers
NI's PE ratio is less than its peer stock SRE, but it is above DUK's and ATO's. Nisource's current PE ratio of 23.3 is in line with the average of its peer group, which is 23.43.
| Stock name | PE ratio | Market cap |
|---|---|---|
| DUK Duke Energy CORP | 19.43 | $98.9B |
| CPK Chesapeake Utilities Corp | 21.32 | $3.21B |
| ATO Atmos Energy Corp | 21.84 | $29.96B |
| GNE Genie Energy Ltd | 22.65 | $370.71M |
| NI Nisource Inc | 23.3 | $22.57B |
| SRE Sempra Energy | 31.9 | $61.71B |
Frequently asked questions
What is Nisource's PE ratio?
As of Jul 13, 2026, NI stock has a price to earnings ratio of 23.3.
What is the 3-year average PE ratio for Nisource (NI)?
The 3-year average PE ratio for NI stock is 19.92.
What is the 5-year average PE ratio for Nisource (NI)?
The 5-year average PE ratio for NI stock is 19.08.
What is the highest PE ratio for NI?
Over the last ten years, the quarterly PE ratio reached a historic high of 92.9 in the Jun 2019 quarter.
How does the current PE ratio for NI compare to its historical average?
NI's current price to earnings ratio is 19% below its 10-year historical average.
How is NI's PE ratio calculated (Nisource PE ratio formula)?
The P/E ratio is calculated by dividing the latest price of a stock by its trailing twelve months EPS. As of today (Jul 13, 2026), Nisource's stock price is $47.07. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $2.02. Therefore, Nisource's price to earnings ratio for today is 23.3. PE RATIO(23.3) = STOCK PRICE($47.07) / TTM EPS($2.02)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.