NiSource (NI) Financial Forecast Calculator
Interactive 5-year forecast and DCF for NiSource. Adjust revenue growth, gross margin, capex intensity, WACC, and terminal growth - see revenue, free cash flow, and enterprise value update in real time. Seeded from NiSource’s most recent SEC filings.
Assumptions
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Keep iterating on the NiSource forecast in Excel. The downloadable sample has every assumption you see here plus a fully integrated income statement, balance sheet, cash flow, and debt schedule - five years of SEC historicals and live formulas in a fully editable workbook.
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Frequently asked
What kind of company is NiSource and what services does it provide?+
NiSource is a regulated utility holding company that delivers natural gas and electricity to approximately 3.3 million customers. It operates through its Columbia Operations for natural gas distribution and NIPSCO Operations for electric and natural gas services in northern Indiana.
How does NiSource generate its revenue and what drives its earnings?+
NiSource's business model is that of an asset-heavy, rate-regulated utility, where earnings are primarily driven by its capital investments, known as the rate base. Revenue and earnings are also influenced by allowed returns set by state utility commissions.
What is NiSource's capital expenditure strategy and how does it impact the business?+
NiSource has a massive $28.0 billion capital expenditure program planned from FY2026 to FY2030, with a significant portion dedicated to renewable generation and new data center infrastructure. This high capex, often exceeding 70-80% of revenue, is crucial for driving rate base growth and supporting its targeted 8-9% EPS CAGR.
What is the primary purpose of a financial model for NiSource?+
A financial model for NiSource aims to evaluate its equity valuation and credit profile. It specifically assesses whether its substantial capital expenditure program will generate sufficient rate base growth to support its targeted EPS CAGR without jeopardizing its investment-grade credit rating.
Where can I find a downloadable financial model for NiSource (NI)?+
A downloadable Excel financial model for NiSource (NI) is available, covering a forecast horizon from FY2026 to FY2030. This model provides detailed assumptions for revenue growth, margins, and capital expenditures to analyze the company's future performance.
How does NiSource's partnership with Amazon and Blackstone impact its growth strategy?+
NiSource formed NIPSCO Generation LLC (GenCo) to support a landmark data center agreement with Amazon, selling a 19.9% minority interest to Blackstone Infrastructure Partners. This partnership helps fund the associated infrastructure build-out, contributing to the company's overall capital expenditure program and growth objectives.
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