NiSource Inc (NI)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	714,300	804,100	584,900	-17,600	383,100
Total assets	US$ in thousands	31,077,200	26,736,600	24,156,900	22,040,500	22,659,800
ROA		2.30%	3.01%	2.42%	-0.08%	1.69%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $714,300K ÷ $31,077,200K
= 2.30%

NiSource Inc's return on assets (ROA) has varied over the past five years, ranging from a low of -0.33% in 2020 to a peak of 2.80% in 2022. In 2023, the ROA decreased to 2.13%. This indicates that the company generated a profit of 2.13 cents for every dollar of assets it had in 2023.

Overall, the trend in NiSource Inc's ROA shows some volatility, with fluctuations in profitability relative to its asset base. The positive ROA figures in recent years indicate that the company has been effectively utilizing its assets to generate profits. However, the negative ROA in 2020 suggests that the company may have experienced challenges in generating returns from its assets during that year.

Further analysis would be required to understand the drivers behind these fluctuations and to assess the sustainability of NiSource Inc's profitability over the long term.