What is Nicolet Bankshares,Inc.'s earnings per share (EPS)?

Nicolet Bankshares,Inc. (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 Bankshares,Inc. (NIC) Financials

NIC

Trailing 12 months to June 30, 2026

Revenue $519.5M +41.0% YoY

Net Income $154.2M +13.7% YoY

EPS (Diluted) $8.80 +0.8% YoY

Free Cash Flow $174.1M +22.5% YoY

Market Cap $3.6B as of Sep 14, 2026

Price / Sales 6.9x on $519.5M revenue, trailing 12 months to June 30, 2026

Price / Earnings 23.3x on $154.2M net income, trailing 12 months to June 30, 2026

Price / Book 1.6x on $2.3B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NIC SEC filings page.

Nicolet Bankshares,Inc. (NIC) reported $519.5M in revenue over the twelve months to Jun 30, 2026, up 41.0% from the prior twelve months. This page shows its 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).

Rhea AI NIC FY2025 2026-09-05

Earnings recovery is translating into cash while improving returns without a proportional rise in balance-sheet leverage.

By FY2025, operating cash flow of $153.5M nearly matched net income of $150.7M, indicating that reported earnings were converting into cash rather than remaining primarily accounting gains. Free cash flow was $149.4M, only slightly below operating cash flow, so capital spending absorbed little of the year's internally generated cash.

The profit profile changed materially: net margin climbed from 22.2% in FY2023 to 38.4% in FY2025, indicating the recovery was not merely a volume story. Return on assets also rose from 0.7% to 1.6%, meaning the larger asset base produced more earnings per dollar deployed.

Debt-to-equity declined from 0.2x in FY2023 to 0.1x in FY2025, so growth was accompanied by a less debt-heavy capital structure. Assets reached $9.2B while equity reached $1.3B, giving the balance sheet a thicker equity base.

Financial Health Signals

Financial Health Score 73/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Nicolet Bankshares,Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings

Nicolet Bankshares,Inc. earned a return on assets of 1.6% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is up from 1.4% the prior year. Earnings ranks banks on that return over three years, and Nicolet Bankshares,Inc. scores 82/100 among other banks.

Growth

Nicolet Bankshares,Inc. reported revenue of $392.0M in fiscal year 2025, against $350.3M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Nicolet Bankshares,Inc. scores 78/100 among other banks.

Capital

Nicolet Bankshares,Inc. funded 13.7% of its assets with shareholders' equity at the end of fiscal year 2025, holding $1.3B of equity against $9.2B of assets. Capital ranks banks on that cushion, and Nicolet Bankshares,Inc. scores 73/100 among other banks.

Efficiency

Efficiency measures what a bank spends running itself against the revenue that spending brings in, so a lower ratio is the better one. Nicolet Bankshares,Inc. scores 79/100 on it among other banks.

Credit Quality

Credit Quality measures the money a bank set aside for loans it expects to go bad, against the size of the loan book it set that money aside for. Nicolet Bankshares,Inc. scores 85/100 on it among other banks.

Stability

Nicolet Bankshares,Inc. reported net income of $150.7M in fiscal year 2025, against $124.1M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Nicolet Bankshares,Inc. scores 39/100 among other banks.

Piotroski F-Score Partial

6/7

Nicolet Bankshares,Inc. passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.02x

For every $1 of reported earnings, Nicolet Bankshares,Inc. 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

$177.8M

YoY+85.7%

QoQ+31.8%

5Y CAGR+26.1%

10Y CAGR+22.8%

Nicolet Bankshares,Inc. generated $177.8M in revenue in Q2 2026. This represents an increase of 85.7% from the same quarter a year earlier. Against the prior quarter it is up 31.8%.

Net Income

$56.9M

YoY+57.9%

QoQ+274.4%

5Y CAGR+25.5%

10Y CAGR+33.1%

Nicolet Bankshares,Inc. reported $56.9M in net income in Q2 2026. This represents an increase of 57.9% from the same quarter a year earlier. Against the prior quarter it is up 274.4%.

EPS (Diluted)

$2.62

YoY+12.0%

QoQ+223.5%

5Y CAGR+8.2%

10Y CAGR+21.0%

Nicolet Bankshares,Inc. earned $2.62 per diluted share (EPS) in Q2 2026. This represents an increase of 12.0% from the same quarter a year earlier. Against the prior quarter it is up 223.5%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$89.3M

YoY+132.7%

QoQ+491.9%

5Y CAGR+123.7%

Nicolet Bankshares,Inc. generated $89.3M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 132.7% from the same quarter a year earlier. Against the prior quarter it is up 491.9%.

Cash & Debt

$465.2M

YoY+10.1%

QoQ-24.4%

5Y CAGR-10.1%

10Y CAGR+16.4%

Nicolet Bankshares,Inc. held $465.2M in cash against $92.8M in long-term debt as of Q2 2026.

Dividends Per Share

$0.36

YoY+12.5%

QoQ+12.5%

Nicolet Bankshares,Inc. paid $0.36 per share in dividends in Q2 2026. This represents an increase of 12.5% from the same quarter a year earlier. Against the prior quarter it is up 12.5%.

Shares Outstanding

21M

YoY+41.1%

QoQ-1.4%

5Y CAGR+16.5%

10Y CAGR+9.3%

Nicolet Bankshares,Inc. had 21M shares outstanding in Q2 2026. This represents an increase of 41.1% from the same quarter a year earlier. Against the prior quarter it is down 1.4%.

Margins & Returns

Net Margin

32.0%

YoY-5.6pp

QoQ+20.7pp

5Y change-0.8pp

10Y change+17.8pp

Nicolet Bankshares,Inc.'s net profit margin was 32.0% in Q2 2026, showing the share of revenue converted to profit. This is down 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 20.7 percentage points.

Return on Equity

2.5%

YoY-0.5pp

QoQ+1.8pp

5Y change-0.8pp

10Y change+1.4pp

Nicolet Bankshares,Inc.'s ROE was 2.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$40.2M

YoY+34.2%

QoQ+79.6%

5Y CAGR+26.3%

Nicolet Bankshares,Inc. spent $40.2M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 34.2% from the same quarter a year earlier. Against the prior quarter it is up 79.6%.

Capital Expenditures

$4.1M

YoY+661.0%

QoQ+247.3%

5Y CAGR+5.2%

Nicolet Bankshares,Inc. invested $4.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 661.0% from the same quarter a year earlier. Against the prior quarter it is up 247.3%.

R&D Spending

Not reported for Q2 2026.

NIC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NIC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$519.5M	$392.0M+11.9%	$350.3M+26.3%	$277.5M-6.8%	$297.9M+32.2%	$225.3M+17.4%	$192.0M+13.3%	$169.4M+15.9%	$146.2M+9.6%	$133.4M+40.7%	$94.8M+60.4%	$59.1M+5.4%	$56.1M-10.5%	$62.6M+89.8%	$33.0M
SG&A Expenses	$148.4M	$115.3M+6.4%	$108.4M+9.4%	$99.1M+11.7%	$88.7M+25.6%	$70.6M+23.6%	$57.1M+4.9%	$54.4M+10.0%	$49.5M+11.3%	$44.5M+30.6%	$34.0M+51.1%	$22.5M+4.9%	$21.5M+9.5%	$19.6M+49.2%	$13.1M
Interest Expense	$188.5M	$164.5M-3.4%	$170.3M+20.5%	$141.3M+316.2%	$34.0M+149.6%	$13.6M-31.5%	$19.9M-11.8%	$22.5M+19.2%	$18.9M+79.7%	$10.5M+43.3%	$7.3M+1.7%	$7.2M+2.1%	$7.1M+12.3%	$6.3M-3.6%	$6.5M
Income Tax	$39.4M	$36.3M+16.7%	$31.1M+23.7%	$25.1M-20.2%	$31.5M+53.8%	$20.5M0.0%	$20.5M+24.4%	$16.5M+22.4%	$13.4M-17.3%	$16.3M+73.6%	$9.4M+53.9%	$6.1M+32.2%	$4.6M+20.1%	$3.8M+150.9%	$1.5M
Net Income	$154.2M	$150.7M+21.5%	$124.1M+101.7%	$61.5M-34.7%	$94.3M+55.4%	$60.7M+0.9%	$60.1M+10.0%	$54.6M+33.2%	$41.0M+23.8%	$33.1M+79.6%	$18.5M+61.6%	$11.4M+14.9%	$9.9M-38.4%	$16.1M+431.7%	$3.0M
EPS (Basic)	N/A	$10.06+22.1%	$8.24+97.6%	$4.17-38.5%	$6.78+20.0%	$5.65-2.9%	$5.82+1.9%	$5.71+34.0%	$4.26+21.4%	$3.51+41.0%	$2.49-11.1%	$2.80+20.2%	$2.33-38.8%	$3.81+618.9%	$0.53
EPS (Diluted)	$8.80	$9.78+21.5%	$8.05+97.3%	$4.08-37.8%	$6.56+20.6%	$5.44-4.6%	$5.70+3.3%	$5.52+34.0%	$4.12+23.7%	$3.33+40.5%	$2.37	$2.57+14.2%	$2.25-40.8%	$3.80+617.0%	$0.53
Diluted Shares (Avg)	N/A	15M-0.1%	15M+2.3%	15M+4.8%	14M+29.0%	11M+5.7%	11M+6.5%	10M-0.6%	10M0.0%	10M+32.5%	8M	4M+1.2%	4M+8.1%	4M+15.9%	3M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$177.8M+85.7%	$134.9M+50.8%	$104.0M+12.5%	$102.9M+13.4%	$95.7M+12.7%	$89.4M+8.8%	$92.4M+4.2%	$90.7M+16.3%
SG&A Expenses	$50.6M+73.8%	$38.2M+43.9%	$30.2M+13.3%	$29.4M+1.7%	$29.1M+10.8%	$26.5M0.0%	$26.7M-0.9%	$28.9M+20.9%
Interest Expense	$59.4M+39.7%	$48.7M+17.1%	$39.3M-4.7%	$41.1M-7.2%	$42.5M-2.3%	$41.5M+0.8%	$41.3M+5.1%	$44.3M+15.2%
Income Tax	$15.6M+78.4%	$3.8M-49.5%	$9.9M+13.2%	$10.1M+21.4%	$8.7M+16.9%	$7.5M+15.4%	$8.7M+29.1%	$8.3M-43.2%
Net Income	$56.9M+57.9%	$15.2M-53.4%	$40.3M+16.9%	$41.7M+28.4%	$36.0M+23.1%	$32.6M+17.3%	$34.5M+12.5%	$32.5M+89.5%
EPS (Basic)	$2.68+11.7%	$0.83-61.2%	$2.72+20.9%	$2.81+30.1%	$2.40+22.4%	$2.14+15.1%	$2.25+8.7%	$2.16+86.2%
EPS (Diluted)	$2.62+12.0%	$0.81-61.1%	$2.64+19.5%	$2.73+30.0%	$2.34+21.9%	$2.08+14.3%	$2.21+8.9%	$2.10+84.2%
Diluted Shares (Avg)	22M+40.8%	19M+19.8%	N/A	15M-1.1%	15M+1.0%	16M+2.6%	N/A	15M+2.5%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

NIC Balance Sheet

NIC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$9.2B+4.4%	$8.8B+3.9%	$8.5B-3.4%	$8.8B+13.9%	$7.7B+69.1%	$4.6B+27.2%	$3.6B+15.5%	$3.1B+5.6%	$2.9B+27.4%	$2.3B+89.5%	$1.2B-0.1%	$1.2B+1.4%	$1.2B+60.9%	$745.3M
Cash & Equivalents	$660.2M+23.2%	$536.0M+9.1%	$491.4M+217.6%	$154.7M-74.0%	$595.3M-25.9%	$802.9M+341.0%	$182.1M-27.0%	$249.5M+61.1%	$154.9M+20.0%	$129.1M+54.4%	$83.6M+21.7%	$68.7M-53.3%	$147.0M+79.2%	$82.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M+15.8%	$317.2M+94.4%	$163.2M+7.9%	$151.2M+40.8%	$107.4M0.0%	$107.4M+60.9%	$66.7M+8242.9%	$800K0.0%	$800K0.0%	$800K0.0%	$800K
Total Liabilities	$7.9B+4.0%	$7.6B+2.6%	$7.4B-4.6%	$7.8B+14.5%	$6.8B+69.5%	$4.0B+31.1%	$3.1B+13.0%	$2.7B+5.5%	$2.6B+26.8%	$2.0B+83.3%	$1.1B0.0%	$1.1B+0.9%	$1.1B+63.8%	$667.9M
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-20.3%	$67.6M-12.5%	$77.3M-0.9%	$78.0M+7704.6%	$1.0M	N/A	N/A	N/A	N/A
Total Equity	$1.3B+7.2%	$1.2B+12.9%	$1.0B+6.8%	$972.5M+9.0%	$891.9M+65.4%	$539.2M+4.4%	$516.3M+33.5%	$386.6M+6.2%	$364.2M+32.0%	$275.9M+152.0%	$109.5M-1.4%	$111.0M+5.9%	$104.9M+35.6%	$77.3M
Retained Earnings	$697.8M+23.3%	$565.8M+23.5%	$458.3M+12.4%	$407.9M+30.1%	$313.6M+24.0%	$253.0M+27.1%	$199.0M+37.8%	$144.4M+41.0%	$102.4M+48.6%	$68.9M+34.9%	$51.1M+28.2%	$39.8M+32.2%	$30.1M+101.3%	$15.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$15.4B+72.6%	$15.6B+73.5%	$9.2B+4.4%	$9.0B+4.5%	$8.9B+4.4%	$9.0B+6.3%	$8.8B+3.9%	$8.6B+2.6%
Cash & Equivalents	$465.2M+10.1%	$615.5M+7.6%	$660.2M+23.2%	$474.0M+10.7%	$422.6M+3.5%	$572.2M+33.9%	$536.0M+9.1%	$428.0M-21.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$834.5M+127.1%	$834.5M+127.1%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%	$367.4M0.0%
Total Liabilities	$13.1B+69.8%	$13.3B+70.9%	$7.9B+4.0%	$7.8B+4.4%	$7.7B+3.7%	$7.8B+5.5%	$7.6B+2.6%	$7.5B+0.6%
Long-Term Debt	$92.8M-31.0%	$180.0M+14.9%	$134.9M-16.4%	$134.6M-16.5%	$134.3M-17.3%	$156.6M-3.5%	$161.4M-3.3%	$161.2M-18.5%
Total Equity	$2.3B+90.9%	$2.3B+90.7%	$1.3B+7.2%	$1.2B+5.7%	$1.2B+9.0%	$1.2B+11.2%	$1.2B+12.9%	$1.1B+17.9%
Retained Earnings	$755.3M+20.8%	$706.1M+18.9%	$697.8M+23.3%	$662.3M+23.6%	$625.2M+23.2%	$594.1M+23.2%	$565.8M+23.5%	$535.6M+24.2%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

NIC Cash Flow Statement

NIC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$182.5M	$153.5M+14.8%	$133.7M+23.9%	$108.0M-8.0%	$117.4M+20.2%	$97.7M+23.8%	$78.9M+35.7%	$58.1M+14.0%	$51.0M+25.2%	$40.7M+64.1%	$24.8M+64.8%	$15.1M+36.3%	$11.0M-45.3%	$20.2M+35.1%	$14.9M
Depreciation & Amortization	N/A	$15.0M-11.6%	$17.0M-7.9%	$18.4M-16.1%	$21.9M+58.3%	$13.9M+29.7%	$10.7M+46.1%	$7.3M+16.4%	$6.3M-11.1%	$7.1M+37.7%	$5.1M+54.5%	$3.3M-13.7%	$3.8M+12.8%	$3.4M+41.1%	$2.4M
Stock-Based Compensation	N/A	$7.3M+10.6%	$6.6M+3.1%	$6.4M-8.2%	$7.0M-4.0%	$7.3M+28.2%	$5.7M+13.1%	$5.0M+2.8%	$4.9M+60.0%	$3.1M+90.5%	$1.6M+33.8%	$1.2M+25.3%	$959K+35.3%	$709K+38.7%	$511K
Capital Expenditures	$8.4M	$4.1M-75.8%	$16.9M-8.9%	$18.6M+51.8%	$12.2M-4.4%	$12.8M+18.5%	$10.8M+145.7%	$4.4M+3.1%	$4.3M+14.0%	$3.7M-7.8%	$4.1M+243.0%	$1.2M-79.5%	$5.8M+90.1%	$3.0M+56.4%	$1.9M
Free Cash Flow	$174.1M	$149.4M+27.9%	$116.8M+30.7%	$89.4M-15.0%	$105.2M+23.9%	$84.9M+24.6%	$68.1M+26.7%	$53.7M+15.0%	$46.7M+26.4%	$37.0M+78.2%	$20.8M+49.6%	$13.9M+162.9%	$5.3M-69.2%	$17.1M+31.9%	$13.0M
Investing Cash Flow	$70.7M	-$230.7M+20.0%	-$288.4M-148.8%	$591.5M+214.5%	-$516.4M-39.3%	-$370.6M-77.6%	-$208.7M-230.5%	-$63.1M+18.1%	-$77.1M+48.9%	-$151.0M-393.4%	$51.4M+337.8%	-$21.6M+76.2%	-$91.0M-219.1%	$76.4M+187.9%	-$86.9M
Financing Cash Flow	-$210.6M	$201.4M+1.1%	$199.3M+154.9%	-$362.7M-771.9%	-$41.6M-163.6%	$65.4M-91.3%	$750.6M+1301.8%	-$62.5M-151.8%	$120.7M-11.3%	$136.1M+542.3%	-$30.8M-243.1%	$21.5M+1203.4%	$1.6M+105.2%	-$31.6M-151.1%	$61.8M
Dividends Paid	$24.1M	$18.7M+12.8%	$16.5M+48.8%	$11.1M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$83.2M	$76.6M+655.3%	$10.1M+566.5%	$1.5M-97.5%	$61.5M-1.7%	$62.6M+48.7%	$42.1M+47.9%	$28.5M+25.1%	$22.7M+51.6%	$15.0M+188.5%	$5.2M	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$93.4M+140.1%	$16.3M-61.1%	$27.0M-19.2%	$45.9M+15.7%	$38.9M+4.2%	$41.8M+78.7%	$33.4M-11.6%	$39.6M+81.6%
Depreciation & Amortization	$979K-72.2%	$2.2M-42.4%	$4.0M+19.7%	$3.6M-17.5%	$3.5M-20.8%	$3.9M-19.4%	$3.3M-36.1%	$4.4M+12.1%
Stock-Based Compensation	N/A	$6.8M+364.8%	N/A	N/A	N/A	$1.5M+6.0%	N/A	N/A
Capital Expenditures	$4.1M+661.0%	$1.2M+157.5%	$3.1M-46.0%	-$4K-99.9%	$544K-81.5%	$463K-86.1%	$5.7M+65.1%	$4.9M+94.1%
Free Cash Flow	$89.3M+132.7%	$15.1M-63.5%	$23.9M-13.7%	$45.9M+32.1%	$38.4M+11.6%	$41.3M+106.0%	$27.7M-19.4%	$34.7M+79.9%
Investing Cash Flow	-$2.4M+97.6%	$65.8M+147.6%	$45.4M+164.1%	-$38.1M+7.0%	-$99.8M+21.8%	-$138.2M-181.9%	-$70.8M+10.1%	-$41.0M-146.2%
Financing Cash Flow	-$241.2M-172.2%	-$126.9M-195.7%	$113.9M-21.7%	$43.6M+109.8%	-$88.6M-224.0%	$132.5M+445.5%	$145.4M+1178.1%	$20.8M+129.7%
Dividends Paid	$7.7M+58.2%	$6.9M+60.5%	$4.8M+9.9%	$4.7M+11.4%	$4.9M+15.7%	$4.3M+14.4%	$4.3M+16.9%	$4.2M+14.6%
Share Buybacks	$40.2M+34.2%	$22.4M-14.0%	$0-100.0%	$20.5M	$30.0M	$26.0M	$10.1M	$0

NIC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NIC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Net Margin	38.4%+3.0pp	35.4%+13.2pp	22.2%-9.5pp	31.6%+4.7pp	26.9%-4.4pp	31.3%-0.9pp	32.3%+4.2pp	28.1%+3.2pp	24.9%+5.4pp	19.5%+0.1pp	19.3%+1.6pp	17.7%-8.0pp	25.8%+16.6pp	9.2%
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%+0.6pp	10.6%0.0pp	10.6%+1.5pp	9.1%+2.4pp	6.7%-3.8pp	10.4%+1.5pp	9.0%-6.4pp	15.4%+11.5pp	3.9%
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%-0.2pp	1.5%+0.2pp	1.3%+0.2pp	1.1%+0.3pp	0.8%-0.1pp	0.9%+0.1pp	0.8%-0.5pp	1.4%+0.9pp	0.4%
Debt-to-Equity	0.110.0x	0.140.0x	0.16-0.1x	0.230.0x	0.24+0.1x	0.100.0x	0.13-0.1x	0.200.0x	0.21+0.2x	0.00-10.1x	10.09+0.1x	9.95-0.5x	10.43+1.8x	8.64
Asset Turnover	0.040.0x	0.040.0x	0.030.0x	0.030.0x	0.030.0x	0.040.0x	0.050.0x	0.050.0x	0.050.0x	0.040.0x	0.050.0x	0.050.0x	0.050.0x	0.04
FCF Margin	38.1%+4.8pp	33.4%+1.1pp	32.2%-3.1pp	35.3%-2.4pp	37.7%+2.2pp	35.5%+3.8pp	31.7%-0.3pp	32.0%+4.2pp	27.7%+5.8pp	21.9%-1.6pp	23.5%+14.1pp	9.4%-18.0pp	27.4%-12.0pp	39.4%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	32.0%-5.6pp	11.3%-25.2pp	38.8%+1.5pp	40.6%+4.7pp	37.6%+3.2pp	36.4%+2.6pp	37.3%+2.7pp	35.8%+13.8pp
Return on Equity	2.5%-0.5pp	0.7%-2.1pp	3.2%+0.3pp	3.4%+0.6pp	3.0%+0.3pp	2.8%+0.1pp	2.9%0.0pp	2.8%+1.1pp
Return on Assets	0.4%0.0pp	0.1%-0.3pp	0.4%+0.1pp	0.5%+0.1pp	0.4%+0.1pp	0.4%0.0pp	0.4%0.0pp	0.4%+0.2pp
Debt-to-Equity	0.04-0.1x	0.08-0.1x	0.110.0x	0.110.0x	0.110.0x	0.130.0x	0.140.0x	0.14-0.1x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x
FCF Margin	50.2%+10.1pp	11.2%-35.0pp	23.0%-7.0pp	44.6%+6.3pp	40.1%-0.4pp	46.2%+21.8pp	29.9%-8.7pp	38.3%+13.5pp

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Nicolet Bankshares,Inc. NIC	FY2025	$392.0M	$150.7M	38.4%	$3.6B	73/100
First Merchants Corp FRME	FY2025	$662.9M	$226.0M	34.1%	$2.6B	65/100
Enterprise Financial Services Corporation EFSC	FY2025	$739.9M	$201.4M	27.2%	$2.3B	55/100
CUSTOMERS BANCORP INC CUBI	FY2025	$818.3M	$224.1M	27.4%	$2.7B	42/100
Berkshire Hills Bancorp, Inc. BHLB	FY2025	$29.9M	$90.3M	N/A	$1.2B	29/100

Where Nicolet Bankshares,Inc. Ranks

Frequently Asked Questions

What is Nicolet Bankshares,Inc.'s annual revenue?

Nicolet Bankshares,Inc. (NIC) reported $392.0M in total revenue for fiscal year 2025. This represents a 11.9% 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 Bankshares,Inc.'s revenue growing?

Nicolet Bankshares,Inc. (NIC) revenue grew by 11.9% year-over-year, from $350.3M to $392.0M in fiscal year 2025.

Is Nicolet Bankshares,Inc. profitable?

Yes, Nicolet Bankshares,Inc. (NIC) reported a net income of $150.7M in fiscal year 2025, with a net profit margin of 38.4%.

How much debt does Nicolet Bankshares,Inc. have?

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

What is Nicolet Bankshares,Inc.'s net profit margin?

Nicolet Bankshares,Inc. (NIC) had a net profit margin of 38.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Nicolet Bankshares,Inc. pay dividends?

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

What is Nicolet Bankshares,Inc.'s return on equity (ROE)?

Nicolet Bankshares,Inc. (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 Bankshares,Inc.'s free cash flow?

Nicolet Bankshares,Inc. (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 Bankshares,Inc.'s operating cash flow?

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

What are Nicolet Bankshares,Inc.'s total assets?

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

What are Nicolet Bankshares,Inc.'s capital expenditures?

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

Does Nicolet Bankshares,Inc. buy back shares?

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

How many shares does Nicolet Bankshares,Inc. have outstanding?

Nicolet Bankshares,Inc. (NIC) had 21M shares outstanding as of fiscal year 2025.

What is Nicolet Bankshares,Inc.'s debt-to-equity ratio?

Nicolet Bankshares,Inc. (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 Bankshares,Inc.'s return on assets (ROA)?

Nicolet Bankshares,Inc. (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 Bankshares,Inc.'s P/E ratio?

Nicolet Bankshares,Inc. (NIC) trades at 23.3x earnings, its market capitalization divided by net income of $154.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $3.6B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Nicolet Bankshares,Inc.'s price-to-sales ratio?

Nicolet Bankshares,Inc. (NIC) trades at 6.9x sales, its market capitalization divided by revenue of $519.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $3.6B as of Sep 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Nicolet Bankshares,Inc.'s Piotroski F-Score?

Nicolet Bankshares,Inc. (NIC) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Nicolet Bankshares,Inc.'s earnings high quality?

Nicolet Bankshares,Inc. (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 Bankshares,Inc.?

Nicolet Bankshares,Inc. (NIC) scores 73 out of 100 on our Financial Health Score, indicating strong standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.