NISOURCE INC. (NI) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: May 06, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 6.65% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

480M

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

NI currently has 479M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 6.65% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
May 06, 2026	10-Q filing \| 479.0M shares outstanding	480M
Oct 29, 2025	10-Q filing \| 473.7M shares outstanding	470M
May 07, 2025	10-Q filing \| 470.4M shares outstanding	470M
Feb 12, 2025	10-K filing \| 456.0M shares outstanding	460M
Oct 30, 2024	10-Q filing \| 454.5M shares outstanding	450M
Aug 07, 2024	10-Q filing \| 448.5M shares outstanding	450M
May 08, 2024	10-Q filing \| 447.9M shares outstanding	450M
Feb 21, 2024	10-K filing \| 447.9M shares outstanding	450M
Nov 01, 2023	10-Q filing \| 413.5M shares outstanding	410M
Aug 02, 2023	10-Q filing \| 413.3M shares outstanding	410M
May 03, 2023	10-Q filing \| 412.8M shares outstanding	410M
Feb 22, 2023	10-K filing \| 407.1M shares outstanding	410M
Nov 07, 2022	10-Q filing \| 406.5M shares outstanding	410M
Aug 03, 2022	10-Q filing \| 406.4M shares outstanding	410M
May 04, 2022	10-Q filing \| 406.0M shares outstanding	410M
Feb 23, 2022	10-K filing \| 393.6M shares outstanding	390M
Nov 03, 2021	10-Q filing \| 393.2M shares outstanding	390M
Aug 04, 2021	10-Q filing \| 393.0M shares outstanding	390M
May 05, 2021	10-Q filing \| 392.7M shares outstanding	390M
Feb 17, 2021	10-K filing \| 384.3M shares outstanding	380M
Nov 02, 2020	10-Q filing \| 383.8M shares outstanding	380M
Aug 05, 2020	10-Q filing \| 383.5M shares outstanding	380M
May 06, 2020	10-Q filing \| 383.1M shares outstanding	380M
Feb 28, 2020	10-K filing \| 374.6M shares outstanding	370M

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