NISOURCE INC. (NI) closed fiscal year 2025 with a gross margin of 51.3 % and a net margin of 14.3 %.
NISOURCE INC. (NI) closed fiscal year 2025 with a gross margin of 51.3 % and a net margin of 14.3 %. The same year shows an EBITDA margin of 46.0 % and an EBIT margin of 28.1 %. The free cash flow margin was -6.4 %. Against the previous year the gross margin moved −1.8 pp and the net margin −0.1 pp. Across the period the gross margin ranges between 36.6 % in 2008 and 103.1 % in 2019. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 36.56 % | 50.12 % | 53.48 % | 59.95 % | 69.85 % | 57.56 % | 54.99 % | 100.00 % | 100.00 % | 100.00 % | 102.47 % | 103.08 % | — | — | 39.22 % | 46.32 % | 53.15 % | 51.32 % |
| EBITDA margin (%) | 16.73 % | 20.90 % | 23.33 % | 25.21 % | 31.84 % | 25.26 % | 24.20 % | 28.47 % | 31.46 % | 30.60 % | 14.51 % | 31.82 % | 28.54 % | 37.10 % | 36.36 % | 41.21 % | 47.30 % | 46.04 % |
| EBIT margin (%) | 10.35 % | 12.03 % | 14.00 % | 15.90 % | 20.67 % | 15.09 % | 14.97 % | 17.20 % | 19.28 % | 18.90 % | 2.50 % | 17.63 % | 12.31 % | 21.28 % | 22.06 % | 24.22 % | 27.55 % | 28.14 % |
| Net margin (%) | 0.89 % | 3.26 % | 4.44 % | 5.20 % | 8.27 % | 11.50 % | 10.05 % | 6.16 % | 7.38 % | 2.64 % | -1.01 % | 7.58 % | -0.39 % | 12.36 % | 14.01 % | 13.36 % | 14.39 % | 14.25 % |
| FCF margin (%) | -8.05 % | 13.37 % | -1.19 % | -4.39 % | -4.44 % | 5.01 % | 0.70 % | 2.07 % | -14.96 % | -19.56 % | -25.61 % | -4.34 % | -14.62 % | -13.11 % | -13.83 % | -13.29 % | -15.76 % | -6.44 % |
