NiSource Inc (NI)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	1,295,500	1,298,400	1,222,100	1,196,500	1,265,800	1,184,700	1,175,100	1,174,000	1,006,900	940,600	886,300	835,800	550,800	294,700	292,900	664,700	890,700	850,300	443,400	98,300
Total assets	US$ in thousands	31,077,200	27,828,200	27,343,700	26,853,700	26,736,600	25,576,400	24,813,800	24,365,500	24,156,900	22,778,600	22,313,800	22,194,500	22,040,500	22,701,500	22,436,500	22,592,700	22,659,800	22,132,300	21,974,200	21,889,900
Operating ROA		4.17%	4.67%	4.47%	4.46%	4.73%	4.63%	4.74%	4.82%	4.17%	4.13%	3.97%	3.77%	2.50%	1.30%	1.31%	2.94%	3.93%	3.84%	2.02%	0.45%

December 31, 2023 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $1,295,500K ÷ $31,077,200K
= 4.17%

Operating ROA measures the efficiency with which NiSource Inc generates operating income relative to its total assets. Looking at the trend of NiSource's operating ROA over the past 8 quarters, it shows a relatively stable performance.

The operating ROA ranged from 4.18% to 4.67% during the last quarter of 2023 to the third quarter of 2023, indicating a consistent performance in utilizing its assets to generate operating income. The slight fluctuations between quarters suggest that NiSource has been able to maintain a relatively stable level of efficiency in generating operating income compared to its asset base.

Overall, NiSource Inc's operating ROA appears to be healthy and consistent, reflecting its ability to efficiently utilize its assets to generate operating income across the quarters analyzed.