NiSource Inc.

DB:NOU Stock Report

Market Cap: €16.4b

NiSource Valuation

Is NOU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NOU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€35.59
Fair Value
1.7% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: NOU (€35) is trading below our estimate of fair value (€35.59)

Significantly Below Fair Value: NOU is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NOU?

Key metric: As NOU is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NOU. This is calculated by dividing NOU's market cap by their current earnings.
What is NOU's PE Ratio?
PE Ratio22.7x
EarningsUS$740.80m
Market CapUS$16.82b

Price to Earnings Ratio vs Peers

How does NOU's PE Ratio compare to its peers?

The above table shows the PE ratio for NOU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.2x
EOAN E.ON
15.3x9.2%€27.6b
MVV1 MVV Energie
11xn/a€2.0b
MNV6 Mainova
33xn/a€1.9b
WWG Gelsenwasser
13.6xn/a€1.7b
NOU NiSource
22.7x11.8%€16.8b

Price-To-Earnings vs Peers: NOU is expensive based on its Price-To-Earnings Ratio (22.7x) compared to the peer average (18.2x).

Price to Earnings Ratio vs Industry

How does NOU's PE Ratio compare vs other companies in the Global Integrated Utilities Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
NOU 22.7xIndustry Avg. 16.1xNo. of Companies8PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NOU is expensive based on its Price-To-Earnings Ratio (22.7x) compared to the Global Integrated Utilities industry average (16.1x).

Price to Earnings Ratio vs Fair Ratio

What is NOU's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NOU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.7x
Fair PE Ratio20.1x

Price-To-Earnings vs Fair Ratio: NOU is expensive based on its Price-To-Earnings Ratio (22.7x) compared to the estimated Fair Price-To-Earnings Ratio (20.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NOU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€35.00
€36.79
+5.1%
3.9%€39.58€33.79n/a13
Jan ’26€34.80
€36.79
+5.7%
3.9%€39.58€33.79n/a13
Dec ’25€36.00
€36.60
+1.7%
3.9%€39.37€33.61n/a13
Nov ’25€31.60
€34.54
+9.3%
5.5%€36.91€29.01n/a14
Oct ’25€30.80
€30.90
+0.3%
6.3%€34.45€26.84n/a13
Sep ’25€29.80
€30.23
+1.5%
5.2%€32.41€27.01n/a12
Aug ’25€29.40
€29.91
+1.7%
3.6%€31.37€27.68n/a12
Jul ’25€26.60
€29.30
+10.1%
3.5%€31.48€27.77n/a10
Jun ’25€25.60
€29.07
+13.6%
3.8%€31.34€27.65n/a10
May ’25€26.00
€28.21
+8.5%
4.9%€30.98€25.35n/a11
Apr ’25€25.50
€27.33
+7.2%
5.0%€30.40€24.87n/a12
Mar ’25€23.90
€27.34
+14.4%
5.1%€30.50€24.95n/a12
Feb ’25€24.00
€27.03
+12.6%
4.9%€30.32€24.81n/a12
Jan ’25€23.70
€26.77
+12.9%
5.5%€30.46€24.92€34.8011
Dec ’24€23.20
€26.32
+13.4%
5.4%€30.04€24.58€36.0011
Nov ’24€23.80
€27.54
+15.7%
7.4%€31.23€23.66€31.6010
Oct ’24€23.20
€28.91
+24.6%
3.7%€30.78€27.98€30.809
Sep ’24€24.50
€28.43
+16.1%
3.5%€30.16€27.42€29.809
Aug ’24€24.90
€28.12
+12.9%
3.5%€29.83€27.12€29.409
Jul ’24€24.90
€28.22
+13.3%
3.7%€30.04€27.31€26.609
Jun ’24€24.60
€28.45
+15.6%
2.6%€29.96€27.24€25.609
May ’24€25.70
€28.17
+9.6%
2.4%€28.98€27.17€26.009
Apr ’24€25.60
€28.81
+12.5%
2.6%€29.74€27.88€25.509
Mar ’24€25.20
€29.24
+16.0%
2.5%€30.18€28.30€23.9010
Feb ’24€25.40
€28.15
+10.8%
3.6%€29.44€25.76€24.0010
Jan ’24€25.80
€28.00
+8.5%
6.0%€30.17€25.46€23.7010
Analyst Price Target
Consensus Narrative from 13 Analysts
€37.03
Fair Value
5.5% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/12 01:39
End of Day Share Price 2025/01/10 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

NiSource Inc. is covered by 28 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gary HovisArgus Research Company
Nicholas CampanellaBarclays
Daniel FordBarclays