What is Nicolet Bankshar's earnings per share (EPS)?

Nicolet Bankshar (NIC) reported diluted earnings per share of $9.78 for fiscal year 2025. This represents a 21.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Nicolet Bankshar Financials

NIC

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Nicolet Bankshar (NIC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 71/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Nicolet Bankshar's revenue grew 7.4% year-over-year to $470.9M, a solid pace of expansion. This earns a growth score of 46/100.

Leverage

100

Nicolet Bankshar carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

Nicolet Bankshar converts 31.7% of revenue into free cash flow ($149.4M). This strong cash generation earns a score of 100/100.

Returns

Nicolet Bankshar's ROE of 12.0% shows moderate profitability relative to equity, earning a score of 38/100. This is up from 10.6% the prior year.

Piotroski F-Score Strong

7/9

Nicolet Bankshar passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.02x

For every $1 of reported earnings, Nicolet Bankshar generates $1.02 in operating cash flow ($153.5M OCF vs $150.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$470.9M

YoY+7.4%

5Y CAGR+25.8%

10Y CAGR+25.5%

Nicolet Bankshar generated $470.9M in revenue in fiscal year 2025. This represents an increase of 7.4% from the prior year.

EBITDA

N/A

Net Income

$150.7M

YoY+21.5%

5Y CAGR+20.2%

10Y CAGR+29.4%

Nicolet Bankshar reported $150.7M in net income in fiscal year 2025. This represents an increase of 21.5% from the prior year.

EPS (Diluted)

$9.78

YoY+21.5%

5Y CAGR+11.4%

10Y CAGR+14.3%

Nicolet Bankshar earned $9.78 per diluted share (EPS) in fiscal year 2025. This represents an increase of 21.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$149.4M

YoY+27.9%

5Y CAGR+17.0%

10Y CAGR+26.8%

Nicolet Bankshar generated $149.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 27.9% from the prior year.

Cash & Debt

$660.2M

YoY+23.2%

5Y CAGR-3.8%

10Y CAGR+23.0%

Nicolet Bankshar held $660.2M in cash against $134.9M in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.24

YoY+13.8%

Nicolet Bankshar paid $1.24 per share in dividends in fiscal year 2025. This represents an increase of 13.8% from the prior year.

Shares Outstanding

15M

YoY-3.6%

5Y CAGR+8.1%

10Y CAGR+13.6%

Nicolet Bankshar had 15M shares outstanding in fiscal year 2025. This represents a decrease of 3.6% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

32.0%

YoY+3.7pp

5Y CAGR-8.3pp

10Y CAGR+8.5pp

Nicolet Bankshar's net profit margin was 32.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.

Return on Equity

12.0%

YoY+1.4pp

5Y CAGR+0.8pp

10Y CAGR+1.5pp

Nicolet Bankshar's ROE was 12.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$76.6M

YoY+655.3%

5Y CAGR+12.7%

Nicolet Bankshar spent $76.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 655.3% from the prior year.

Capital Expenditures

$4.1M

YoY-75.8%

5Y CAGR-17.6%

10Y CAGR+13.2%

Nicolet Bankshar invested $4.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 75.8% from the prior year.

NIC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$470.9M+7.4%	$438.4M+14.5%	$382.9M+39.8%	$273.9M+59.7%	$171.6M+15.0%	$149.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$164.5M-3.4%	$170.3M+20.5%	$141.3M+316.2%	$34.0M+149.6%	$13.6M-31.5%	$19.9M
Income Tax	$36.3M+16.7%	$31.1M+23.7%	$25.1M-20.2%	$31.5M+53.8%	$20.5M0.0%	$20.5M
Net Income	$150.7M+21.5%	$124.1M+101.7%	$61.5M-34.7%	$94.3M+55.4%	$60.7M+0.9%	$60.1M
EPS (Diluted)	$9.78+21.5%	$8.05+97.3%	$4.08-37.8%	$6.56+20.6%	$5.44-4.6%	$5.70

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$120.2M-0.1%	$120.3M+2.3%	$117.6M+4.3%	$112.7M-0.1%	$112.8M+0.2%	$112.6M+3.4%	$108.9M+4.7%	$104.0M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$39.3M-4.2%	$41.1M-3.4%	$42.5M+2.4%	$41.5M+0.6%	$41.3M-6.7%	$44.3M+1.7%	$43.5M+5.6%	$41.2M
Income Tax	$9.9M-2.3%	$10.1M+15.7%	$8.7M+15.7%	$7.5M-13.4%	$8.7M+4.7%	$8.3M+11.4%	$7.5M+14.3%	$6.5M
Net Income	$40.3M-3.4%	$41.7M+15.8%	$36.0M+10.6%	$32.6M-5.5%	$34.5M+6.0%	$32.5M+11.1%	$29.3M+5.3%	$27.8M
EPS (Diluted)	N/A	$2.73+16.7%	$2.34+12.5%	$2.08	N/A	$2.10+9.4%	$1.92+5.5%	$1.82

NIC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.2B+4.4%	$8.8B+3.9%	$8.5B-3.4%	$8.8B+13.9%	$7.7B+69.1%	$4.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$660.2M+23.2%	$536.0M+9.1%	$491.4M+217.6%	$154.7M-74.0%	$595.3M-25.9%	$802.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M+15.8%	$317.2M+94.4%	$163.2M
Total Liabilities	$7.9B+4.0%	$7.6B+2.6%	$7.4B-4.6%	$7.8B+14.5%	$6.8B+69.5%	$4.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$134.9M-16.4%	$161.4M-3.3%	$166.9M-25.9%	$225.3M+3.9%	$216.9M+302.7%	$53.9M
Total Equity	$1.3B+7.2%	$1.2B+12.9%	$1.0B+6.8%	$972.5M+9.0%	$891.9M+65.4%	$539.2M
Retained Earnings	$697.8M+23.3%	$565.8M+23.5%	$458.3M+12.4%	$407.9M+30.1%	$313.6M+24.0%	$253.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$9.2B+1.7%	$9.0B+1.1%	$8.9B-0.5%	$9.0B+2.0%	$8.8B+1.8%	$8.6B+0.9%	$8.6B+1.3%	$8.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$660.2M+39.3%	$474.0M+12.1%	$422.6M-26.1%	$572.2M+6.7%	$536.0M+25.2%	$428.0M+4.8%	$408.5M-4.4%	$427.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M
Total Liabilities	$7.9B+1.4%	$7.8B+1.0%	$7.7B-0.7%	$7.8B+2.2%	$7.6B+1.8%	$7.5B+0.3%	$7.5B+1.1%	$7.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$134.9M+0.2%	$134.6M+0.2%	$134.3M-14.2%	$156.6M-3.0%	$161.4M+0.1%	$161.2M-0.8%	$162.4M+0.1%	$162.3M
Total Equity	$1.3B+3.5%	$1.2B+2.1%	$1.2B+0.6%	$1.2B+0.9%	$1.2B+2.1%	$1.1B+5.3%	$1.1B+2.6%	$1.1B
Retained Earnings	$697.8M+5.4%	$662.3M+5.9%	$625.2M+5.2%	$594.1M+5.0%	$565.8M+5.6%	$535.6M+5.6%	$507.4M+5.2%	$482.3M

NIC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$153.5M+14.8%	$133.7M+23.9%	$108.0M-8.0%	$117.4M+20.2%	$97.7M+23.8%	$78.9M
Capital Expenditures	$4.1M-75.8%	$16.9M-8.9%	$18.6M+51.8%	$12.2M-4.4%	$12.8M+18.5%	$10.8M
Free Cash Flow	$149.4M+27.9%	$116.8M+30.7%	$89.4M-15.0%	$105.2M+23.9%	$84.9M+24.6%	$68.1M
Investing Cash Flow	-$230.7M+20.0%	-$288.4M-148.8%	$591.5M+214.5%	-$516.4M-39.3%	-$370.6M-77.6%	-$208.7M
Financing Cash Flow	$201.4M+1.1%	$199.3M+154.9%	-$362.7M-771.9%	-$41.6M-163.6%	$65.4M-91.3%	$750.6M
Dividends Paid	$18.7M+12.8%	$16.5M+48.8%	$11.1M	$0	$0	N/A
Share Buybacks	$76.6M+655.3%	$10.1M+566.5%	$1.5M-97.5%	$61.5M-1.7%	$62.6M+48.7%	$42.1M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$27.0M-41.2%	$45.9M+17.9%	$38.9M-6.9%	$41.8M+25.2%	$33.4M-15.8%	$39.6M+6.2%	$37.3M+59.7%	$23.4M
Capital Expenditures	$3.1M+77325.0%	-$4K-100.7%	$544K+17.5%	$463K-91.9%	$5.7M+16.0%	$4.9M+67.2%	$2.9M-11.3%	$3.3M
Free Cash Flow	$23.9M-47.9%	$45.9M+19.5%	$38.4M-7.2%	$41.3M+49.4%	$27.7M-20.3%	$34.7M+1.0%	$34.4M+71.5%	$20.1M
Investing Cash Flow	$45.4M+219.1%	-$38.1M+61.8%	-$99.8M+27.8%	-$138.2M-95.3%	-$70.8M-72.7%	-$41.0M+67.9%	-$127.7M-160.5%	-$49.0M
Financing Cash Flow	$113.9M+161.5%	$43.6M+149.2%	-$88.6M-166.9%	$132.5M-8.9%	$145.4M+600.3%	$20.8M-70.9%	$71.5M+286.3%	-$38.4M
Dividends Paid	$4.8M+1.1%	$4.7M-2.8%	$4.9M+13.1%	$4.3M-1.2%	$4.3M+2.4%	$4.2M+1.0%	$4.2M+11.9%	$3.8M
Share Buybacks	$0-100.0%	$20.5M-31.6%	$30.0M+15.1%	$26.0M+156.9%	$10.1M	$0	$0	$0

NIC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	32.0%+3.7pp	28.3%+12.2pp	16.1%-18.3pp	34.4%-0.9pp	35.4%-5.0pp	40.3%
Return on Equity	12.0%+1.4pp	10.6%+4.7pp	5.9%-3.8pp	9.7%+2.9pp	6.8%-4.3pp	11.2%
Return on Assets	1.6%+0.2pp	1.4%+0.7pp	0.7%-0.4pp	1.1%+0.3pp	0.8%-0.5pp	1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.11-0.0	0.14-0.0	0.16-0.1	0.23-0.0	0.24+0.1	0.10
FCF Margin	31.7%+5.1pp	26.7%+3.3pp	23.4%-15.0pp	38.4%-11.1pp	49.5%+3.8pp	45.6%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	33.5%-1.1pp	34.7%+4.0pp	30.6%+1.7pp	28.9%-1.6pp	30.6%+1.7pp	28.9%+2.0pp	26.9%+0.2pp	26.7%
Return on Equity	3.2%-0.2pp	3.4%+0.4pp	3.0%+0.3pp	2.8%-0.2pp	2.9%+0.1pp	2.8%+0.1pp	2.7%+0.1pp	2.6%
Return on Assets	0.4%-0.0pp	0.5%+0.1pp	0.4%+0.0pp	0.4%-0.0pp	0.4%0.0pp	0.4%+0.0pp	0.3%0.0pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.110.0	0.110.0	0.11-0.0	0.130.0	0.140.0	0.140.0	0.150.0	0.15
FCF Margin	19.9%-18.2pp	38.1%+5.5pp	32.6%-4.0pp	36.6%+12.1pp	24.5%-6.3pp	30.8%-0.8pp	31.6%+12.3pp	19.3%

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Frequently Asked Questions

What is Nicolet Bankshar's annual revenue?

Nicolet Bankshar (NIC) reported $470.9M in total revenue for fiscal year 2025. This represents a 7.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Nicolet Bankshar's revenue growing?

Nicolet Bankshar (NIC) revenue grew by 7.4% year-over-year, from $438.4M to $470.9M in fiscal year 2025.

Is Nicolet Bankshar profitable?

Yes, Nicolet Bankshar (NIC) reported a net income of $150.7M in fiscal year 2025, with a net profit margin of 32.0%.

How much debt does Nicolet Bankshar have?

As of fiscal year 2025, Nicolet Bankshar (NIC) had $660.2M in cash and equivalents against $134.9M in long-term debt.

What is Nicolet Bankshar's net profit margin?

Nicolet Bankshar (NIC) had a net profit margin of 32.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Nicolet Bankshar pay dividends?

Yes, Nicolet Bankshar (NIC) paid $1.24 per share in dividends during fiscal year 2025.

What is Nicolet Bankshar's return on equity (ROE)?

Nicolet Bankshar (NIC) has a return on equity of 12.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Nicolet Bankshar's free cash flow?

Nicolet Bankshar (NIC) generated $149.4M in free cash flow during fiscal year 2025. This represents a 27.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Nicolet Bankshar's operating cash flow?

Nicolet Bankshar (NIC) generated $153.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Nicolet Bankshar's total assets?

Nicolet Bankshar (NIC) had $9.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Nicolet Bankshar's capital expenditures?

Nicolet Bankshar (NIC) invested $4.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Nicolet Bankshar buy back shares?

Yes, Nicolet Bankshar (NIC) spent $76.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Nicolet Bankshar have outstanding?

Nicolet Bankshar (NIC) had 15M shares outstanding as of fiscal year 2025.

What is Nicolet Bankshar's debt-to-equity ratio?

Nicolet Bankshar (NIC) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Nicolet Bankshar's return on assets (ROA)?

Nicolet Bankshar (NIC) had a return on assets of 1.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Nicolet Bankshar's Piotroski F-Score?

Nicolet Bankshar (NIC) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Nicolet Bankshar's earnings high quality?

Nicolet Bankshar (NIC) has an earnings quality ratio of 1.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Nicolet Bankshar?

Nicolet Bankshar (NIC) scores 71 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.