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NiSource vs Alliant Energy: NI and LNT compared
NiSource is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $1.3B for Alliant Energy (Q3 2026). Alliant Energy is growing faster (+6% against +5% a year earlier). Alliant Energy is more profitable, with an operating margin of 30.3% against 26.2%.
Where the money goes: NI and LNT
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.
Alliant Energy (LNT) · Q3 2026
Alliant Energy, Q3 2026: revenue $1.3B (+6% year over year), operating margin 30.3%, net earnings $398M, operating cash flow $428M. The chart follows the revenue to costs, profit and cash.
| NiSource (NI) | Alliant Energy (LNT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.3B | $1.3B |
| Revenue growth, Y/Y | +5% | +6% |
| Operating margin | 26.2% | 30.3% |
| Net earnings | $130M | $398M |
| Net margin | 10.0% | 31.0% |
| Operating cash flow | $547M | $428M |
| Market value | $21.3B | $18.8B |
| P/E | 22.7× | 22.9× |
| Analysts’ mean target | $48.22 | $76.65 |
Where the revenue comes from
NiSource
- NIPSCO Operations: $796M (61%)
- Columbia Operations: $493M (38%)
- Corporate Segment: $10.5M (1%)
- NIPSCO: $1.6M (0%)
Alliant Energy
- IPL: $664M (52%)
- WPL: $595M (46%)
- Non-Utility and Other: $26.0M (2%)
Questions
Which is bigger, NiSource or Alliant Energy?
NiSource is the larger company: $1.3B of revenue in its latest quarter (Q3 2026) against $1.3B for Alliant Energy (Q3 2026).
Is NiSource or Alliant Energy growing faster?
Alliant Energy is growing faster (+6% against +5% a year earlier).
Which is more profitable, NiSource or Alliant Energy?
Alliant Energy is more profitable, with an operating margin of 30.3% against 26.2%.
More: NiSource earnings · how NiSource makes money · Alliant Energy earnings · how Alliant Energy makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.