WallStSmart

NiSource Inc (NI)vsSpire Inc (SR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

NiSource Inc generates 159% more annual revenue ($6.64B vs $2.57B). NI leads profitability with a 14.0% profit margin vs 11.1%. NI appears more attractively valued with a PEG of 2.20. SR earns a higher WallStSmart Score of 63/100 (C+).

NI

Buy

62

out of 100

Grade: C+

Growth: 6.0Profit: 7.0Value: 8.7Quality: 3.8
Piotroski: 4/9Altman Z: 0.59

SR

Buy

63

out of 100

Grade: C+

Growth: 5.3Profit: 6.5Value: 10.0Quality: 5.0
Piotroski: 4/9Altman Z: 0.57
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NIUndervalued (+6.7%)

Margin of Safety

+6.7%

Fair Value

$47.89

Current Price

$45.68

$2.21 discount

UndervaluedFair: $47.89Overvalued
SRUndervalued (+37.1%)

Margin of Safety

+37.1%

Fair Value

$140.02

Current Price

$90.24

$49.78 discount

UndervaluedFair: $140.02Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NI3 strengths · Avg: 8.0/10
Price/BookValuation
2.3x8/10

Reasonable price relative to book value

Operating MarginProfitability
27.0%8/10

Strong operational efficiency at 27.0%

Revenue GrowthGrowth
19.8%8/10

19.8% revenue growth

SR2 strengths · Avg: 8.0/10
Price/BookValuation
1.7x8/10

Reasonable price relative to book value

Operating MarginProfitability
23.4%8/10

Strong operational efficiency at 23.4%

Areas to Watch

NI3 concerns · Avg: 2.7/10
PEG RatioValuation
2.204/10

Expensive relative to growth rate

Free Cash FlowQuality
$-133.70M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.592/10

Distress zone — elevated risk

SR4 concerns · Avg: 2.8/10
PEG RatioValuation
2.464/10

Expensive relative to growth rate

Debt/EquityHealth
1.563/10

Elevated debt levels

Free Cash FlowQuality
$-121.80M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.572/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : NI

The strongest argument for NI centers on Price/Book, Operating Margin, Revenue Growth. Revenue growth of 19.8% demonstrates continued momentum.

Bull Case : SR

The strongest argument for SR centers on Price/Book, Operating Margin. Revenue growth of 13.9% demonstrates continued momentum.

Bear Case : NI

The primary concerns for NI are PEG Ratio, Free Cash Flow, Altman Z-Score.

Bear Case : SR

The primary concerns for SR are PEG Ratio, Debt/Equity, Free Cash Flow. Debt-to-equity of 1.56 is elevated, increasing financial risk.

Key Dynamics to Monitor

NI profiles as a growth stock while SR is a value play — different risk/reward profiles.

SR carries more volatility with a beta of 0.63 — expect wider price swings.

NI is growing revenue faster at 19.8% — sustainability is the question.

SR generates stronger free cash flow (-122M), providing more financial flexibility.

Bottom Line

SR scores higher overall (63/100 vs 62/100) and 13.9% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

NiSource Inc

UTILITIES · UTILITIES - REGULATED GAS · USA

NiSource Inc. is one of the largest fully regulated utility companies in the United States. The company is based in Merrillville, Indiana.

Spire Inc

UTILITIES · UTILITIES - REGULATED GAS · USA

Spire Inc. engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company is headquartered in St. Louis, Missouri.

Visit Website →

Want to dig deeper into these stocks?