Company / Operating Margin
NiSource Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
28.1%
FY2025
5-year range
12.3% / 28.1%
FY2021-FY2025
Trend
+2.1%
vs FY2024
Sector context
#14 of 61
Utilities
What the data says
NiSource's operating margin of 28.1% is higher than 77% of companies in the Utilities sector (FY2025). Operating Margin has increased for 3 consecutive years, from 12.3% in FY2022 to 28.1% in FY2025.
Based on SEC 10-K filings.
28.1% in FY2025 with a 5-year CAGR of +25.6%. Top quartile in the Utilities sector.
Improved from 21.3% to 28.1% over the past 2 years.
Utilities sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +15.8pp
- 5-Year Change
- +25.6pp
- 10-Year Change
- -
Sector benchmark
Top 23% in UtilitiesTop 23% of 61This company 28.1% Sector average 21.7%
▼
+29.9% above sector average
Key checks
Key Insights
- NiSource's operating margin has grown for 3 consecutive years.
- In FY2025, operating margin increased 2.1% year-over-year.
- Currently 6.5pp above the Utilities sector average.
- Lowest operating margin in the period was in FY2020.
Company context
Key Data Points
- Altman Z-Score 0.46 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 28.1% | +2.1% |
| FY2024 | 27.6% | +29.5% |
| FY2023 | 21.3% | +72.9% |
| FY2022 | 12.3% | -30.2% |
| FY2021 | 17.6% | +605.2% |
| FY2020 | 2.5% | -85.8% |
| FY2019 | 17.6% | +605.2% |
| FY2018 | 2.5% | -86.8% |
| FY2017 | 18.9% | -2.0% |
| FY2016 | 19.3% | +12.1% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026