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Evergy vs NiSource: EVRG and NI compared
Evergy is the larger company: $2.1B of revenue in its latest quarter (Q3 2026) against $1.3B for NiSource (Q3 2026). Evergy is growing faster (+16% against +5% a year earlier). Evergy is more profitable, with an operating margin of 38.6% against 26.2%.
Where the money goes: EVRG and NI
Evergy (EVRG) · Q3 2026
Evergy, Q3 2026: revenue $2.1B (+16% year over year), operating margin 38.6%, net earnings $613M, operating cash flow $988M. The chart follows the revenue to costs, profit and cash.
NiSource (NI) · Q3 2026
NiSource, Q3 2026: revenue $1.3B (+5% year over year), operating margin 26.2%, net earnings $130M, operating cash flow $547M. The chart follows the revenue to costs, profit and cash.
| Evergy (EVRG) | NiSource (NI) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $2.1B | $1.3B |
| Revenue growth, Y/Y | +16% | +5% |
| Operating margin | 38.6% | 26.2% |
| Net earnings | $613M | $130M |
| Net margin | 29.2% | 10.0% |
| Operating cash flow | $988M | $547M |
| Free cash flow | $85.3M | — |
| Market value | $20.5B | $21.3B |
| P/E | 23.1× | 22.7× |
| Analysts’ mean target | $91.50 | $48.22 |
Where the revenue comes from
NiSource
- NIPSCO Operations: $796M (61%)
- Columbia Operations: $493M (38%)
- Corporate Segment: $10.5M (1%)
- NIPSCO: $1.6M (0%)
Questions
Which is bigger, Evergy or NiSource?
Evergy is the larger company: $2.1B of revenue in its latest quarter (Q3 2026) against $1.3B for NiSource (Q3 2026).
Is Evergy or NiSource growing faster?
Evergy is growing faster (+16% against +5% a year earlier).
Which is more profitable, Evergy or NiSource?
Evergy is more profitable, with an operating margin of 38.6% against 26.2%.
More: Evergy earnings · how Evergy makes money · NiSource earnings · how NiSource makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.