Strong Revenue Growth
Revenue grew 23.5% year-over-year to $6.52B in FY2025 (from $5.28B in the prior year), indicating strong demand across NI's product and service portfolio.
Source: 10-K Income Statement
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
NI (National Instruments) delivered strong FY2025 results with revenue surging 23.5% to $6.52B, operating income rising 26.1% to $1.84B, and operating cash flow jumping 32.6% to $2.36B, reflecting robust business momentum.
Revenue
$6.52B
+23.47% YoY
EPS (Diluted)
$1.95
+20.37% YoY
Operating Income
$1.84B
+26.09% YoY
Source: SEC XBRL
Nisource (NI) reported FY2025 revenue of $6.52B, up 23.5% year over year. Operating margin was 28.1%, up 0.5 points from 27.6% a year earlier. Operating cash flow was $2.36B, up 32.6% year over year.
Last 4 quarters: 0 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 0.16 | 0.16 | Miss -2.1% |
| Mar 2026 | 1.06 | 1.08 | Miss -2.3% |
| Dec 2025This filing | 0.51 | 0.52 | Miss -1.3% |
| Sep 2025 | 0.19 | 0.20 | Miss -6.8% |
Reported EPS of $0.51 versus the $0.52 analyst consensus — a -1.3% miss for Dec 2025.
Compiled by AI from this SEC filing
Revenue grew 23.5% year-over-year to $6.52B in FY2025 (from $5.28B in the prior year), indicating strong demand across NI's product and service portfolio.
Source: 10-K Income Statement
Operating margin improved modestly to 28.1% from 27.6% in the prior year, demonstrating disciplined cost management even as the company scaled revenues significantly.
Source: 10-K Income Statement / Key Ratios
Operating cash flow increased 32.6% to $2.36B, well outpacing net income growth of 22.2%, suggesting strong cash conversion and working capital improvements.
Source: 10-K Cash Flow Statement
Investing cash outflows increased 40.8% to -$4.52B, indicating substantial capital deployment — likely acquisitions or capital expenditures — as the company pursues growth initiatives.
Source: 10-K Cash Flow Statement
Current liabilities declined 15.9% to $3.46B while current assets grew 14.3% to $2.38B, though the current ratio remains below 1.0 at 0.69, warranting monitoring of short-term obligations.
Source: 10-K Balance Sheet
Compiled by AI from this SEC filing · 2 high, 3 medium, 0 low
NI's current ratio stands at 0.69, meaning current liabilities of $3.46B exceed current assets of $2.38B. This could create short-term liquidity pressure if cash flows deteriorate or credit conditions tighten.
Source: 10-K Balance Sheet
Investing cash outflows reached -$4.52B in FY2025, a 40.8% increase year-over-year. Large-scale acquisitions or capital projects carry integration, execution, and return-on-investment risks that could weigh on future profitability.
Source: 10-K Cash Flow Statement
Cash and equivalents fell 29.7% to $110.1M, a relatively thin cash cushion for a company of NI's size. This increases reliance on operating cash flows and external financing to meet obligations.
Source: 10-K Balance Sheet
Financing cash flows swung dramatically to +$2.10B from -$651M in the prior year, suggesting significant new debt or equity issuance. Increased leverage could elevate financial risk if earnings growth slows.
Source: 10-K Cash Flow Statement
Return on assets stands at just 2.59% despite strong revenue growth, indicating that NI's expanding asset base ($35.86B total assets) is not yet generating proportionally higher returns, which may reflect integration costs or underutilized acquired assets.
Source: 10-K Balance Sheet / Key Ratios
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 6.52 $B | 5.28 $B | +23.47% |
Operating Income $B | 1.84 $B | 1.46 $B | +26.09% |
Net Income $M | 929.50 $M | 760.40 $M | +22.24% |
EPS (Basic) $ | 1.96 $ | 1.63 $ | +20.25% |
EPS (Diluted) $ | 1.95 $ | 1.62 $ | +20.37% |
Answers draw on this SEC filing and the data on this page
NiSource's Q2 FY2026 net income available to common shareholders dropped 55.5% year-over-year to $45.5 million, driven by higher operating expenses and $30.5 million in lockout-related costs at NIPSCO, partially offset by higher capital‑investment revenues.
NI delivered solid Q1 2026 results with revenue growing 8.0% YoY to $2.32B and operating income rising 7.9% to $819.2M, though operating cash flow declined sharply by 35.6% to $442.3M and cash balances fell 72.3% to $71.9M, signaling potential working capital pressures.
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