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NiSource vs Avista: NI and AVA compared
NiSource is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $421M for Avista (Q3 2026). NiSource is growing faster (+5% against +4% a year earlier). NiSource is more profitable, with an operating margin of 26.2% against 15.7%.
Where the money goes: NI and AVA
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.
Avista (AVA) · Q3 2026
Avista, Q3 2026: revenue $421M (+4% year over year), operating margin 15.7%, net earnings $49.0M, operating cash flow $134M. The chart follows the revenue to costs, profit and cash.
| NiSource (NI) | Avista (AVA) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.3B | $421M |
| Revenue growth, Y/Y | +5% | +4% |
| Operating margin | 26.2% | 15.7% |
| Net earnings | $130M | $49.0M |
| Net margin | 10.0% | 11.6% |
| Operating cash flow | $547M | $134M |
| Market value | $21.3B | $3.4B |
| P/E | 22.7× | 13.5× |
| Analysts’ mean target | $48.22 | $40.67 |
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, NiSource or Avista?
NiSource is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $421M for Avista (Q3 2026).
Is NiSource or Avista growing faster?
NiSource is growing faster (+5% against +4% a year earlier).
Which is more profitable, NiSource or Avista?
NiSource is more profitable, with an operating margin of 26.2% against 15.7%.
More: NiSource earnings · how NiSource makes money · Avista earnings · how Avista makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.