Discounted Cash Flow

Nisource Inc.

NI · Based on 10 years of SEC filings

DCF estimate unavailable — No positive free cash flow in recent history — company has not generated positive FCF

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $4.5b $331.5m $-671.9m 7.4% $1.03
2017 $4.9b (8.5%) $128.5m (-61.2%) $-953.6m (-41.9%) 2.6% (-64.3%) $0.39 (-62.1%)
2018 $5.0b (2.4%) $-50.6m (-139.4%) $-50.6m (94.7%) -1.0% (-138.5%) $-0.18 (-146.2%)
2019 $5.1b (1.2%) $383.1m (857.1%) $-219.1m (-333.0%) 7.6% (847.8%) $0.88 (588.9%)
2020 $4.5b (-11.5%) $-17.6m (-104.6%) $-654.1m (-198.5%) -0.4% (-105.2%) $-0.19 (-121.6%)
2021 $4.7b (5.8%) $584.9m (3423.3%) $-620.1m (5.2%) 12.4% (3242.0%) $1.35 (810.5%)
2022 $5.7b (21.3%) $804.1m (37.5%) $-793.7m (-28.0%) 14.0% (13.3%) $1.84 (36.3%)
2023 $5.3b (-6.8%) $714.3m (-11.2%) $-710.7m (10.5%) 13.4% (-4.7%) $1.59 (-13.6%)
2024 $5.3b (-1.2%) $760.4m (6.5%) $-832.5m (-17.1%) 14.4% (7.8%) $1.63 (2.5%)
2025 $6.5b (23.5%) $929.5m (22.2%) $-420.0m (49.5%) 14.3% (-1.0%) $1.96 (20.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model

No positive free cash flow in recent history — company has not generated positive FCF

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.