Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.39B | $4.73B | $4.99B | $5.05B | $4.47B | $4.73B | $5.74B | $5.35B | $5.28B | $6.52B |
| Revenue growth | — | 7.7% | 5.5% | 1.2% | -11.5% | 5.8% | 21.3% | -6.8% | -1.2% | 23.5% |
| Gross profit | $4.49B | $4.87B | $5.11B | $5.21B | — | — | — | — | — | — |
| Gross margin | 102.3% | 103.1% | 102.5% | 103.1% | — | — | — | — | — | — |
| Operating income | $866M | $921M | $125M | $891M | $551M | $1.01B | $1.27B | $1.30B | $1.46B | $1.84B |
| Operating margin | 19.7% | 19.5% | 2.5% | 17.6% | 12.3% | 21.3% | 22.1% | 24.2% | 27.6% | 28.1% |
| Net income | $332M | $129M | -$50.6M | $383M | -$17.6M | $585M | $804M | $714M | $760M | $930M |
| Net margin | 7.5% | 2.7% | -1.0% | 7.6% | -0.4% | 12.4% | 14.0% | 13.4% | 14.4% | 14.3% |
| EPS (diluted) | $1.02 | $0.39 | -$0.18 | $0.87 | -$0.19 | $1.27 | $1.70 | $1.48 | $1.62 | $1.95 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $803M | $742M | $540M | $1.58B | $1.10B | $1.22B | $1.41B | $1.94B | $1.78B | $2.36B |
| Capital expenditures | $1.48B | $1.70B | $1.82B | $1.80B | $1.76B | $1.84B | $2.20B | $2.65B | $2.61B | $2.78B |
| Free cash flow | -$672M | -$954M | -$1.28B | -$219M | -$654M | -$620M | -$794M | -$711M | -$833M | -$420M |
| Share buybacks | $9.40M | $7.20M | $4.00M | $0.00 | $0.00 | — | — | — | — | — |
| Dividends paid | $206M | $229M | $273M | $299M | $322M | $345M | $382M | $414M | $481M | $530M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $26.4M | $29.0M | $113M | $139M | $117M | $84.2M | $40.8M | $2.25B | $157M | $110M |
| Total assets | $18.7B | $20.0B | $21.8B | $22.7B | $22.0B | $24.2B | $26.7B | $31.1B | $31.8B | $35.9B |
| Shareholders' equity | $4.07B | $4.32B | $5.75B | $5.99B | $5.75B | $6.95B | $7.58B | $8.27B | $8.68B | $9.45B |
| Retained earnings | -$972M | -$1.07B | -$1.40B | -$1.37B | -$1.77B | -$1.58B | -$1.21B | -$967M | -$712M | -$315M |
| Shares (wtd avg diluted) | 324M | 331M | 356M | 376M | 384M | 417M | 443M | 448M | 456M | 475M |
Every figure is extracted from NISOURCE INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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