NiSource Inc (NI)

Return on equity (ROE)

		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 stockholders’ equity	US$ in thousands	8,269,600	7,575,400	6,947,300	5,752,200	5,986,700
ROE		8.64%	10.61%	8.42%	-0.31%	6.40%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $714,300K ÷ $8,269,600K
= 8.64%

NiSource Inc's return on equity (ROE) has fluctuated over the past five years. In 2023, the ROE stood at 7.99%, a decrease from the previous year's 9.89%. Despite the decrease, the company's ROE in 2023 remained positive, indicating that it generated a profit relative to its shareholders' equity.

Looking back, the ROE was 7.63% in 2021, an improvement from the negative ROE of -1.26% in 2020. This positive trend suggests that the company's profitability and efficiency in generating returns from its equity improved during this period.

Comparing the most recent ROE with 2019, where it was 5.48%, there is a decent increase. However, the company may want to strive for higher ROE levels to maximize returns for its shareholders and demonstrate sustained profitability and efficiency in utilizing equity.

Overall, the fluctuation in NiSource Inc's ROE indicates varying levels of profitability and efficiency in generating returns from shareholders' equity over the years. Further analysis of the company's financial performance and operational efficiency would provide more insights into the factors driving these fluctuations.