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Stocks · Financials · National Commercial Banks

NICOLET BANKSHARES INC

NIC Clue Score73
United States Fiscal year ends December CIK 0001174850
$162.79 -0.76% Close, 9 Oct 2026
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Price $162.79 +115.84% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
Net income
Fiscal year 2016Net income18.5EPS, diluted2.37Fiscal year 2017Net income33.2 +79.6%EPS, diluted3.33 +40.5%Fiscal year 2018Net income41.0 +23.8%EPS, diluted4.12 +23.7%Fiscal year 2019Net income54.6 +33.2%EPS, diluted5.52 +34.0%Fiscal year 2020Net income60.1 +10.0%EPS, diluted5.70 +3.3%Fiscal year 2021Net income60.7 +0.9%EPS, diluted5.44 −4.6%Fiscal year 2022Net income94.3 +55.4%EPS, diluted6.56 +20.6%Fiscal year 2023Net income61.5 −34.7%EPS, diluted4.08 −37.8%Fiscal year 2024Net income124.1 +101.7%EPS, diluted8.05 +97.3%Fiscal year 2025Net income150.7 +21.5%EPS, diluted9.78 +21.5%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income 18.5 33.2 41.0 54.6 60.1 60.7 94.3 61.5 124.1 150.7
Growth +79.6% +23.8% +33.2% +10.0% +0.9% +55.4% −34.7% +101.7% +21.5%
EPS, diluted 2.37 3.33 4.12 5.52 5.70 5.44 6.56 4.08 8.05 9.78
Growth +40.5% +23.7% +34.0% +3.3% −4.6% +20.6% −37.8% +97.3% +21.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow24.8Capital expenditure−4.1Free cash flow20.8Buybacks−5.2Fiscal year 2017Operating cash flow40.7Capital expenditure−3.7Free cash flow37.0 +78.2%Buybacks−15.0Fiscal year 2018Operating cash flow51.0Capital expenditure−4.3Free cash flow46.7 +26.4%Buybacks−22.7Fiscal year 2019Operating cash flow58.1Capital expenditure−4.4Free cash flow53.7 +15.0%Buybacks−28.5Fiscal year 2020Operating cash flow78.9Capital expenditure−10.8Free cash flow68.1 +26.7%Buybacks−42.1Fiscal year 2021Operating cash flow97.7Capital expenditure−12.8Free cash flow84.9 +24.6%Buybacks−62.6Dividends paid0.0Fiscal year 2022Operating cash flow117.4Capital expenditure−12.2Free cash flow105.2 +23.9%Buybacks−61.5Dividends paid0.0Fiscal year 2023Operating cash flow108.0Capital expenditure−18.6Free cash flow89.4 −15.0%Buybacks−1.5Dividends paid−11.1Fiscal year 2024Operating cash flow133.7Capital expenditure−16.9Free cash flow116.8 +30.7%Buybacks−10.1Dividends paid−16.5Fiscal year 2025Operating cash flow153.5Capital expenditure−4.1Free cash flow149.4 +27.9%Buybacks−76.6Dividends paid−18.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 24.8 40.7 51.0 58.1 78.9 97.7 117.4 108.0 133.7 153.5
Capital expenditure −4.1 −3.7 −4.3 −4.4 −10.8 −12.8 −12.2 −18.6 −16.9 −4.1
Free cash flow 20.8 37.0 46.7 53.7 68.1 84.9 105.2 89.4 116.8 149.4
Growth +78.2% +26.4% +15.0% +26.7% +24.6% +23.9% −15.0% +30.7% +27.9%
Buybacks −5.2 −15.0 −22.7 −28.5 −42.1 −62.6 −61.5 −1.5 −10.1 −76.6
Dividends paid n/a n/a n/a n/a n/a 0.0 0.0 −11.1 −16.5 −18.7

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash129.1Total debt1.0Net cash (debt)128.1Shareholders’ equity275.9Debt to equity0.00Fiscal year 2017Cash154.9Total debt78.0Net cash (debt)76.9Shareholders’ equity364.2Debt to equity0.21Fiscal year 2018Cash249.5Total debt77.3Net cash (debt)172.2Shareholders’ equity386.6Debt to equity0.20Fiscal year 2019Cash182.1Total debt67.6Net cash (debt)114.4Shareholders’ equity516.3Debt to equity0.13Fiscal year 2020Cash802.9Total debt53.9Net cash (debt)749.0Shareholders’ equity539.2Debt to equity0.10Fiscal year 2021Cash595.3Total debt216.9Net cash (debt)378.4Shareholders’ equity891.9Debt to equity0.24Fiscal year 2022Cash154.7Total debt225.3Net cash (debt)−70.6Shareholders’ equity972.5Debt to equity0.23Fiscal year 2023Cash491.4Total debt166.9Net cash (debt)324.5Shareholders’ equity1,039.0Debt to equity0.16Fiscal year 2024Cash536.0Total debt161.4Net cash (debt)374.7Shareholders’ equity1,172.9Debt to equity0.14Fiscal year 2025Cash660.2Total debt134.9Net cash (debt)525.4Shareholders’ equity1,257.7Debt to equity0.11
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 129.1 154.9 249.5 182.1 802.9 595.3 154.7 491.4 536.0 660.2
Total debt 1.0 78.0 77.3 67.6 53.9 216.9 225.3 166.9 161.4 134.9
Net cash (debt) 128.1 76.9 172.2 114.4 749.0 378.4 −70.6 324.5 374.7 525.4
Shareholders’ equity 275.9 364.2 386.6 516.3 539.2 891.9 972.5 1,039.0 1,172.9 1,257.7
Debt to equity 0.00 0.21 0.20 0.13 0.10 0.24 0.23 0.16 0.14 0.11

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Spending
33.4% 32.7% 24.5% 23.0% 25.3% 25.2% 25.0% 29.0% 20.0% 19.4%
Returns
6.7% 9.1% 10.6% 10.6% 11.2% 6.8% 9.7% 5.9% 10.6% 12.0%
0.8% 1.1% 1.3% 1.5% 1.3% 0.8% 1.1% 0.7% 1.4% 1.6%
Balance and payout
0.00 0.21 0.20 0.13 0.10 0.24 0.23 0.16 0.14 0.11
88.0% 87.6% 87.5% 85.5% 88.2% 88.4% 88.9% 87.7% 86.7% 86.3%
n/a n/a n/a n/a n/a 0.0% 0.0% 18.1% 13.3% 12.4%
25.1% 40.6% 48.7% 53.0% 61.8% 73.7% 58.5% 14.1% 22.8% 63.7%