Nicolet Bankshares (NIC) Financials

$122.28 -0.63 (-0.51%)

Closing price 05/23/2025 03:59 PM Eastern

Extended Trading

$122.13 -0.15 (-0.12%)

As of 05/23/2025 04:04 PM Eastern

Annual Income Statements for Nicolet Bankshares

This table shows Nicolet Bankshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	124	62	94	61	60	55	41	33	18	11	9.71
Consolidated Net Income / (Loss)	124	62	94	61	60	55	41	33	19	12	10
Net Income / (Loss) Continuing Operations	124	62	94	61	60	55	41	33	19	12	10
Total Pre-Tax Income	155	87	126	81	81	71	55	50	28	18	15
Total Revenue	350	277	298	225	192	169	146	133	95	59	56
Net Interest Income / (Expense)	268	242	240	158	129	116	107	99	68	41	42
Total Interest Income	438	383	274	172	149	139	126	109	75	49	49
Loans and Leases Interest Income	393	341	244	157	136	126	114	101	69	46	46
Investment Securities Interest Income	25	24	26	12	10	9.66	8.36	7.09	4.72	2.52	2.40
Other Interest Income	21	17	4.44	2.91	2.61	3.41	3.22	1.62	1.33	0.44	0.47
Total Interest Expense	170	141	34	14	20	23	19	11	7.33	7.21	7.07
Deposits Interest Expense	162	126	22	10	17	19	15	7.69	5.14	2.93	3.07
Short-Term Borrowings Interest Expense	0.00	4.79	3.25	0.00	0.07	0.01	0.01	0.08	0.00	0.65	0.85
Long-Term Debt Interest Expense	8.72	11	8.96	3.16	3.16	3.54	3.46	2.74	2.19	1.38	0.88
Total Non-Interest Income	82	36	58	67	63	53	40	35	27	18	14
Other Service Charges	67	58	54	60	61	43	36	31	25	7.93	5.83
Net Realized & Unrealized Capital Gains on Investments	8.62	-28	1.76	4.18	-1.81	7.90	1.17	2.03	0.05	1.73	0.54
Other Non-Interest Income	6.65	6.46	1.78	2.99	3.30	2.37	2.42	1.78	1.28	2.15	2.17
Provision for Credit Losses	3.85	4.99	12	15	10	1.20	1.60	2.33	1.80	1.80	2.70
Total Non-Interest Expense	191	186	161	129	101	97	90	81	65	40	39
Salaries and Employee Benefits	108	99	89	71	57	54	49	44	34	23	21
Net Occupancy & Equipment Expense	53	56	44	33	27	25	24	22	17	10	10
Marketing Expense	8.33	7.79	8.47	5.40	5.40	5.69	5.32	4.70	3.49	2.24	2.27
Property & Liability Insurance Claims	4.00	4.00	1.92	2.04	0.71	0.59	-	-	-	0.62	0.72
Other Operating Expenses	11	11	9.02	9.05	5.70	7.37	6.48	5.48	7.32	2.75	2.78
Amortization Expense	6.88	8.07	6.62	3.49	3.57	3.87	4.39	4.70	3.46	1.03	1.21
Restructuring Charge	0.00	0.19	1.66	5.65	1.02	0.10	-	-	-	-	-
Income Tax Expense	31	25	31	20	20	16	13	16	9.37	6.09	4.61
Basic Earnings per Share	$8.24	$4.17	$6.78	$5.65	$5.82	$5.71	$4.26	$3.51	$2.49	$2.80	$2.33
Weighted Average Basic Shares Outstanding	15.05M	14.74M	13.91M	10.74M	10.34M	9.56M	9.64M	9.44M	7.16M	4.00M	4.17M
Diluted Earnings per Share	$8.05	$4.08	$6.56	$5.44	$5.70	$5.52	$4.12	$3.33	$2.37	$2.57	$2.25
Weighted Average Diluted Shares Outstanding	15.42M	15.07M	14.37M	11.14M	10.54M	9.90M	9.96M	9.96M	7.51M	4.36M	4.31M
Weighted Average Basic & Diluted Shares Outstanding	15.26M	14.90M	14.69M	13.59M	9.98M	10.50M	9.60M	9.40M	7.20M	4M	4.20M
Cash Dividends to Common per Share	$1.09	$0.75	-	-	-	-	-	-	-	-	-

This table shows Nicolet Bankshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	33	34	33	29	28	31	17	23	-8.90	28	19
Consolidated Net Income / (Loss)	33	34	33	29	28	31	17	23	-8.90	28	19
Net Income / (Loss) Continuing Operations	33	34	33	29	28	31	17	23	-8.90	28	19
Total Pre-Tax Income	40	43	41	37	34	37	32	30	-13	37	25
Total Revenue	89	92	91	85	82	89	78	76	35	83	76
Net Interest Income / (Expense)	71	72	68	65	63	64	61	59	57	68	63
Total Interest Income	113	113	113	109	104	104	100	92	87	86	71
Loans and Leases Interest Income	101	101	101	98	94	90	88	84	79	76	63
Investment Securities Interest Income	6.61	6.44	6.31	6.21	5.80	6.13	5.78	5.61	6.70	7.69	6.53
Other Interest Income	5.47	5.79	5.49	4.70	4.59	7.15	6.45	2.36	1.54	1.70	1.13
Total Interest Expense	42	41	44	44	41	39	38	33	31	18	7.73
Deposits Interest Expense	39	39	42	41	39	37	35	29	25	13	4.64
Short-Term Borrowings Interest Expense	0.00	-	0.00	0.00	0.00	-	0.47	1.11	3.21	2.62	0.59
Long-Term Debt Interest Expense	2.07	2.15	2.19	2.15	2.23	2.68	2.97	2.57	2.51	2.53	2.50
Total Non-Interest Income	18	21	22	20	19	24	17	17	-22	15	13
Other Service Charges	16	18	17	16	15	15	15	14	13	13	13
Net Realized & Unrealized Capital Gains on Investments	0.70	1.57	2.27	1.73	3.04	6.97	1.14	0.82	-37	-0.06	-0.56
Other Non-Interest Income	1.47	1.23	2.62	1.39	1.41	2.11	0.63	1.57	2.15	1.47	0.40
Provision for Credit Losses	1.50	1.00	0.75	1.35	0.75	1.00	0.45	0.45	3.09	1.85	8.60
Total Non-Interest Expense	48	48	49	47	47	50	46	45	45	44	43
Salaries and Employee Benefits	27	27	29	26	27	27	24	24	24	24	24
Net Occupancy & Equipment Expense	14	13	13	13	13	17	14	13	13	12	11
Marketing Expense	2.10	2.33	1.82	2.04	2.14	1.85	1.87	1.95	2.12	2.30	2.28
Property & Liability Insurance Claims	0.94	0.99	0.99	0.99	1.03	0.95	1.50	1.01	0.54	0.48	0.48
Other Operating Expenses	2.82	3.27	2.34	2.81	2.42	2.10	2.77	2.93	2.79	2.68	2.22
Amortization Expense	1.55	1.59	1.69	1.76	1.83	1.84	1.99	2.08	2.16	2.22	1.63
Income Tax Expense	7.55	8.72	8.33	7.48	6.54	6.76	15	7.88	-4.19	9.50	6.31
Basic Earnings per Share	$2.14	$2.26	$2.16	$1.96	$1.86	$2.08	$1.16	$1.54	($0.61)	$1.89	$1.33
Weighted Average Basic Shares Outstanding	15.26M	15.05M	15.05M	14.94M	14.91M	14.74M	14.74M	14.71M	14.69M	13.91M	13.89M
Diluted Earnings per Share	$2.08	$2.21	$2.10	$1.92	$1.82	$2.04	$1.14	$1.51	($0.61)	$1.84	$1.29
Weighted Average Diluted Shares Outstanding	15.65M	15.42M	15.48M	15.28M	15.25M	15.07M	15.10M	14.96M	14.69M	14.37M	14.31M
Weighted Average Basic & Diluted Shares Outstanding	15.08M	15.26M	15.21M	15.06M	14.93M	14.90M	14.76M	14.74M	14.72M	14.69M	14.68M
Cash Dividends to Common per Share	$0.28	-	$0.28	$0.28	$0.25	-	$0.25	$0.25	-	-	-

This table details how cash moves in and out of Nicolet Bankshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	45	337	-441	-208	621	-67	95	26	45	15	-78
Net Cash From Operating Activities	134	108	117	98	79	58	51	41	25	15	11
Net Cash From Continuing Operating Activities	134	108	117	98	79	58	51	41	25	15	11
Net Income / (Loss) Continuing Operations	124	62	94	61	60	55	41	33	19	12	10
Consolidated Net Income / (Loss)	124	62	94	61	60	55	41	33	19	12	10
Provision For Loan Losses	3.85	4.99	12	15	10	1.20	1.60	2.33	1.80	1.80	2.77
Depreciation Expense	17	18	22	14	11	7.31	6.28	7.07	5.13	3.32	3.85
Non-Cash Adjustments to Reconcile Net Income	-1.87	34	-10	18	-15	-11	3.70	4.63	0.92	2.54	-6.30
Changes in Operating Assets and Liabilities, net	-9.24	-11	-0.21	-9.51	13	6.06	-1.95	-6.74	-1.74	-4.17	0.67
Net Cash From Investing Activities	-288	591	-516	-371	-209	-63	-77	-151	51	-22	-91
Net Cash From Continuing Investing Activities	-288	591	-516	-371	-209	-63	-77	-151	51	-22	-91
Purchase of Investment Securities	-407	-260	-862	-972	-333	-158	-154	-229	-110	-48	-103
Sale of Property, Leasehold Improvements and Equipment	0.04	12	13	2.74	0.34	0.46	-	1.72	-	4.01	4.00
Divestitures	0.00	0.00	148	0.00	0.00	-	0.00	9.12	67	-	-
Sale and/or Maturity of Investments	114	833	176	220	114	96	76	65	93	36	22
Other Investing Activities, net	5.39	6.14	9.41	379	9.17	-1.92	0.75	2.24	1.43	6.97	-8.43
Net Cash From Financing Activities	199	-363	-42	65	751	-62	121	136	-31	21	1.65
Net Cash From Continuing Financing Activities	199	-363	-42	65	751	-62	121	136	-31	21	1.65
Net Change in Deposits	206	19	-148	210	815	49	143	127	91	31	25
Issuance of Debt	0.00	-317	184	104	368	0.00	0.00	30	0.00	12	-
Issuance of Common Equity	0.59	0.84	0.75	2.38	2.06	8.74	1.80	4.03	1.90	1.72	0.89
Repayment of Debt	-5.17	-59	-20	-188	-384	-91	-1.25	-9.55	-106	-5.76	-18
Repurchase of Common Equity	-10	-1.52	-61	-63	-42	-28	-23	-15	-5.20	-	-
Payment of Dividends	-17	-11	0.00	0.00	-	-	-0.28	-	-0.63	-0.21	-0.24
Other Financing Activities, Net	25	6.02	2.53	-0.79	-8.22	-0.53	0.00	-0.19	-0.26	-4.38	-5.83
Cash Interest Paid	170	138	37	11	23	22	19	11	7.51	7.29	7.32
Cash Income Taxes Paid	25	23	34	24	22	16	11	13	7.15	2.89	3.54

This table details how cash moves in and out of Nicolet Bankshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	36	108	19	-19	-64	-54	41	391	-41	-284	257
Net Cash From Operating Activities	42	33	40	37	23	38	22	33	16	30	38
Net Cash From Continuing Operating Activities	42	33	40	37	23	38	22	33	16	30	38
Net Income / (Loss) Continuing Operations	33	34	33	29	28	31	17	23	-8.90	28	19
Consolidated Net Income / (Loss)	33	34	33	29	28	31	17	23	-8.90	28	19
Provision For Loan Losses	1.50	1.00	0.75	1.35	0.75	1.00	0.45	0.45	3.09	1.85	8.60
Depreciation Expense	3.86	3.35	4.36	4.45	4.80	5.24	3.89	5.08	4.20	4.94	5.19
Non-Cash Adjustments to Reconcile Net Income	-0.57	9.46	-3.65	-4.62	-3.06	-0.43	-2.99	1.95	35	-11	1.46
Changes in Operating Assets and Liabilities, net	4.40	-15	5.67	6.89	-6.89	1.30	3.33	2.75	-18	6.22	4.25
Net Cash From Investing Activities	-138	-71	-41	-128	-49	-79	89	93	489	-135	-170
Net Cash From Continuing Investing Activities	-138	-71	-41	-128	-49	-79	89	93	489	-135	-170
Purchase of Investment Securities	-159	-99	-54	-161	-94	-157	-40	-12	-51	-194	-227
Sale and/or Maturity of Investments	20	25	12	32	45	66	126	103	539	55	56
Other Investing Activities, net	0.13	2.47	0.96	1.82	0.14	0.01	3.42	1.49	1.23	-8.79	1.94
Net Cash From Financing Activities	133	145	21	71	-38	-13	-70	266	-545	-179	389
Net Cash From Continuing Financing Activities	133	145	21	71	-38	-13	-70	266	-545	-179	389
Net Change in Deposits	169	144	19	75	-32	15	-16	270	-250	-216	242
Issuance of Common Equity	0.04	-	0.16	0.23	0.20	0.25	0.20	0.21	0.19	0.19	0.19
Repayment of Debt	-5.00	-	-1.16	-	-4.01	-31	-	-	-28	-	-
Repurchase of Common Equity	-26	-10	-	-	-	-	-	-	-	-0.79	-
Payment of Dividends	-4.30	-4.35	-4.24	-4.20	-3.76	-3.72	-3.70	-3.70	0.00	-	-
Other Financing Activities, Net	-0.66	16	7.10	0.10	1.27	5.57	-0.15	0.45	0.15	0.45	0.00
Cash Interest Paid	41	41	45	42	41	39	38	31	31	18	8.42
Cash Income Taxes Paid	0.00	10	8.21	7.00	0.05	0.10	11	12	0.00	7.90	6.05

This table presents Nicolet Bankshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	8,797	8,469	8,764	7,695	4,552	3,577	3,097	2,932	2,301	1,214	1,215
Cash and Due from Banks	116	130	121	209	88	75	86	86	68	12	24
Interest Bearing Deposits at Other Banks	420	362	34	386	714	107	164	68	60	71	43
Time Deposits Placed and Other Short-Term Investments	0.98	6.37	13	22	30	19	0.99	1.75	3.98	3.42	10
Trading Account Securities	814	807	1,598	1,580	21	452	402	410	372	177	176
Loans and Leases, Net of Allowance	6,560	6,290	6,119	4,572	2,757	-14	2,153	2,075	1,557	867	874
Loans and Leases	6,627	6,354	6,180	4,622	2,789	-	2,166	2,088	1,569	877	883
Allowance for Loan and Lease Losses	66	64	62	50	32	14	13	13	12	10	9.29
Premises and Equipment, Net	127	119	109	95	60	56	48	47	46	30	32
Intangible Assets	388	394	402	339	175	166	124	128	88	3.79	-
Other Assets	370	361	368	492	706	2,715	119	115	105	50	54
Total Liabilities & Shareholders' Equity	8,797	8,469	8,764	7,695	4,552	3,577	3,097	2,932	2,301	1,214	1,215
Total Liabilities	7,624	7,430	7,791	6,803	4,013	3,060	2,709	2,568	2,025	1,105	1,104
Non-Interest Bearing Deposits	1,791	1,959	2,362	1,976	1,213	819	753	632	-	-	-
Interest Bearing Deposits	5,612	5,239	4,817	4,490	2,698	2,135	1,861	1,839	1,970	1,056	1,060
Long-Term Debt	161	167	225	217	54	68	77	78	38	40	34
Other Long-Term Liabilities	59	65	70	120	48	38	18	18	-	-	-
Total Equity & Noncontrolling Interests	1,173	1,039	973	892	539	517	387	365	276	110	111
Total Preferred & Common Equity	1,173	1,039	973	892	539	516	387	364	276	110	111
Total Common Equity	1,173	1,039	973	892	539	516	387	364	276	97	87
Common Stock	656	634	622	575	273	313	248	264	210	45	46
Retained Earnings	566	458	408	314	253	199	144	102	69	51	40
Accumulated Other Comprehensive Income / (Loss)	-49	-53	-57	3.10	13	4.42	-5.64	-2.15	-2.73	0.98	1.03

This table presents Nicolet Bankshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	8,975	8,637	8,557	8,447	8,416	8,483	8,192	8,896
Cash and Due from Banks	105	124	110	82	109	122	93	119
Interest Bearing Deposits at Other Banks	467	304	299	346	436	383	21	320
Trading Account Securities	846	837	809	809	800	925	1,028	1,640
Loans and Leases, Net of Allowance	6,678	6,491	6,464	6,333	6,176	6,160	6,161	5,924
Loans and Leases	6,746	6,557	6,529	6,398	6,239	6,223	6,224	5,984
Allowance for Loan and Lease Losses	67	66	65	64	63	63	62	60
Premises and Equipment, Net	125	124	121	120	118	117	113	107
Intangible Assets	387	390	391	393	396	398	400	407
Other Assets	367	365	359	358	372	367	6,526	367
Total Liabilities & Shareholders' Equity	8,975	8,637	8,557	8,447	8,416	8,483	8,192	8,896
Total Liabilities	7,792	7,488	7,466	7,383	7,442	7,505	7,231	7,957
Non-Interest Bearing Deposits	1,689	1,840	1,765	1,665	2,020	2,060	2,095	2,478
Interest Bearing Deposits	5,883	5,420	5,476	5,501	5,162	5,139	4,834	4,918
Short-Term Debt	0.00	0.00	0.00	0.00	0.00	50	50	280
Long-Term Debt	157	161	162	162	198	198	197	225
Other Long-Term Liabilities	63	67	62	55	62	59	55	56
Total Equity & Noncontrolling Interests	1,183	1,149	1,091	1,064	974	978	962	938
Total Preferred & Common Equity	1,183	1,149	1,091	1,064	974	978	962	938
Total Common Equity	1,183	1,149	1,091	1,064	974	978	962	938
Common Stock	630	648	639	637	626	625	624	621
Retained Earnings	594	536	507	482	431	418	399	380
Accumulated Other Comprehensive Income / (Loss)	-41	-34	-55	-55	-83	-65	-61	-62

This table displays calculated financial ratios and metrics derived from Nicolet Bankshares' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	26.25%	-6.85%	32.20%	17.38%	13.29%	15.93%	9.58%	40.69%	60.44%	5.40%	-10.49%
EBITDA Growth	63.83%	-28.87%	55.47%	3.65%	16.35%	28.94%	7.60%	71.00%	58.34%	13.29%	-20.98%
EBIT Growth	79.07%	-31.10%	55.00%	0.22%	13.30%	30.38%	10.26%	77.09%	59.06%	20.37%	-26.74%
NOPAT Growth	101.67%	-34.74%	55.41%	0.30%	9.97%	32.97%	23.69%	78.84%	61.78%	14.96%	-37.85%
Net Income Growth	101.67%	-34.74%	55.41%	0.30%	9.97%	32.97%	23.69%	78.84%	61.78%	14.96%	-37.85%
EPS Growth	97.30%	-37.80%	20.59%	-4.56%	3.26%	33.98%	23.72%	40.51%	-7.78%	14.22%	-40.79%
Operating Cash Flow Growth	23.87%	-8.03%	20.22%	23.77%	35.71%	14.02%	25.24%	64.13%	64.81%	36.33%	-45.29%
Free Cash Flow Firm Growth	-101.16%	218.81%	31.49%	-974.68%	180.08%	-431.15%	120.54%	34.50%	-2,292.68%	-69.81%	225.01%
Invested Capital Growth	10.64%	-20.39%	36.62%	86.96%	1.44%	25.82%	4.91%	41.07%	110.06%	3.39%	-7.65%
Revenue Q/Q Growth	1.07%	2.13%	4.68%	9.06%	3.85%	4.28%	1.18%	5.71%	15.48%	1.37%	0.74%
EBITDA Q/Q Growth	2.31%	0.60%	11.87%	-1.02%	8.59%	4.65%	6.55%	5.31%	18.83%	0.22%	19.12%
EBIT Q/Q Growth	3.87%	0.37%	13.84%	-2.89%	8.26%	4.52%	4.07%	8.13%	19.58%	5.14%	17.44%
NOPAT Q/Q Growth	3.18%	5.23%	13.62%	-2.85%	10.41%	2.67%	4.53%	9.91%	21.38%	3.66%	16.79%
Net Income Q/Q Growth	3.18%	5.23%	13.62%	-2.85%	10.41%	2.67%	4.53%	9.91%	21.38%	3.66%	16.79%
EPS Q/Q Growth	2.16%	5.15%	11.00%	-8.88%	10.89%	0.91%	5.37%	5.71%	3.95%	3.63%	13.64%
Operating Cash Flow Q/Q Growth	-3.18%	7.70%	-11.56%	45.99%	-8.15%	23.85%	-0.63%	-5.25%	190.33%	-20.83%	-27.06%
Free Cash Flow Firm Q/Q Growth	76.28%	12.28%	36.00%	-440.60%	112.89%	-389.25%	-52.57%	15.03%	5.27%	-37.04%	-27.01%
Invested Capital Q/Q Growth	1.81%	2.88%	4.93%	26.94%	-37.22%	20.23%	2.09%	-3.07%	-0.05%	3.22%	0.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	49.12%	37.85%	49.57%	42.15%	47.73%	46.48%	41.79%	42.56%	35.02%	35.48%	33.01%
EBIT Margin	44.28%	31.22%	42.21%	36.00%	42.17%	42.16%	37.49%	37.26%	29.60%	29.86%	26.14%
Profit (Net Income) Margin	35.41%	22.17%	31.64%	26.92%	31.50%	32.45%	28.29%	25.07%	19.72%	19.55%	17.93%
Tax Burden Percent	79.97%	71.01%	74.97%	74.77%	74.70%	76.96%	75.46%	67.27%	66.61%	65.49%	68.57%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	20.03%	28.99%	25.03%	25.23%	25.30%	23.04%	24.54%	32.73%	33.39%	34.51%	31.43%
Return on Invested Capital (ROIC)	9.77%	4.52%	7.19%	7.13%	10.27%	10.48%	9.11%	8.83%	8.07%	7.86%	6.68%
ROIC Less NNEP Spread (ROIC-NNEP)	9.77%	4.52%	7.19%	7.13%	10.27%	10.48%	9.11%	8.83%	8.07%	7.86%	6.68%
Return on Net Nonoperating Assets (RNNOA)	1.45%	1.59%	2.93%	1.35%	1.18%	1.68%	1.88%	1.59%	1.62%	2.61%	2.63%
Return on Equity (ROE)	11.22%	6.12%	10.11%	8.48%	11.45%	12.16%	10.99%	10.43%	9.68%	10.47%	9.31%
Cash Return on Invested Capital (CROIC)	-0.34%	27.23%	-23.77%	-53.48%	8.84%	-12.38%	4.32%	-25.24%	-62.92%	4.52%	14.63%
Operating Return on Assets (OROA)	1.80%	1.01%	1.53%	1.32%	1.99%	2.14%	1.82%	1.90%	1.60%	1.45%	1.21%
Return on Assets (ROA)	1.44%	0.71%	1.15%	0.99%	1.49%	1.65%	1.37%	1.28%	1.06%	0.95%	0.83%
Return on Common Equity (ROCE)	11.22%	6.12%	10.11%	8.48%	11.44%	12.14%	10.97%	10.41%	9.36%	8.72%	7.20%
Return on Equity Simple (ROE_SIMPLE)	10.58%	5.92%	9.69%	6.80%	11.21%	10.65%	10.70%	9.18%	6.77%	10.55%	9.05%
Net Operating Profit after Tax (NOPAT)	124	62	94	61	60	55	41	33	19	12	10
NOPAT Margin	35.41%	22.17%	31.64%	26.92%	31.50%	32.45%	28.29%	25.07%	19.72%	19.55%	17.93%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	48.42%	58.75%	47.48%	48.41%	46.74%	50.08%	53.97%	53.37%	57.13%	59.67%	60.65%
Operating Expenses to Revenue	54.62%	66.98%	53.93%	57.38%	52.47%	57.13%	61.41%	61.00%	68.50%	67.10%	69.04%
Earnings before Interest and Taxes (EBIT)	155	87	126	81	81	71	55	50	28	18	15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	172	105	148	95	92	79	61	57	33	21	19
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.36	1.13	1.18	1.13	1.22	1.32	1.18	1.45	1.45	0.90	1.04
Price to Tangible Book Value (P/TBV)	2.03	1.82	2.01	1.82	1.81	1.94	1.74	2.24	2.13	0.94	1.04
Price to Revenue (P/Rev)	4.56	4.23	3.84	4.47	3.43	4.01	3.13	3.95	4.23	1.48	1.61
Price to Earnings (P/E)	12.86	19.08	12.15	16.62	10.94	12.45	11.14	15.91	22.48	7.79	9.29
Dividend Yield	1.04%	0.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	7.77%	5.24%	8.23%	6.02%	9.14%	8.03%	8.98%	6.28%	4.45%	12.83%	10.76%
Enterprise Value to Invested Capital (EV/IC)	0.91	0.70	1.00	0.55	0.00	0.94	0.61	1.02	0.97	0.35	0.48
Enterprise Value to Revenue (EV/Rev)	3.48	3.04	5.10	2.70	0.00	3.23	1.95	3.37	3.22	0.89	1.23
Enterprise Value to EBITDA (EV/EBITDA)	7.09	8.03	10.30	6.40	0.00	6.95	4.66	7.92	9.21	2.51	3.73
Enterprise Value to EBIT (EV/EBIT)	7.87	9.73	12.09	7.49	0.00	7.66	5.19	9.05	10.89	2.98	4.71
Enterprise Value to NOPAT (EV/NOPAT)	9.84	13.70	16.13	10.02	0.00	9.95	6.88	13.45	16.35	4.55	6.87
Enterprise Value to Operating Cash Flow (EV/OCF)	9.12	7.81	12.95	6.22	0.00	9.41	5.58	11.04	12.32	3.49	6.25
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	2.28	0.00	0.00	0.00	0.00	14.50	0.00	0.00	7.90	3.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.14	0.16	0.56	0.24	0.10	0.13	0.20	0.21	0.14	0.36	0.30
Long-Term Debt to Equity	0.14	0.16	0.23	0.24	0.10	0.13	0.20	0.21	0.14	0.36	0.30
Financial Leverage	0.15	0.35	0.41	0.19	0.12	0.16	0.21	0.18	0.20	0.33	0.39
Leverage Ratio	7.81	8.57	8.83	8.56	7.70	7.38	8.01	8.16	9.11	11.01	11.18
Compound Leverage Factor	7.81	8.57	8.83	8.56	7.70	7.38	8.01	8.16	9.11	11.01	11.18
Debt to Total Capital	12.10%	13.84%	35.80%	19.56%	9.08%	11.57%	16.64%	17.62%	11.98%	26.62%	23.17%
Short-Term Debt to Total Capital	0.00%	0.00%	20.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	12.10%	13.84%	14.88%	19.56%	9.08%	11.57%	16.64%	17.62%	11.98%	26.62%	23.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.16%	16.88%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%	0.16%	0.16%	0.13%	0.12%	0.04%
Common Equity to Total Capital	87.90%	86.16%	64.20%	80.44%	90.92%	88.31%	83.20%	82.22%	87.89%	65.10%	59.91%
Debt to EBITDA	0.94	1.59	3.67	2.28	0.59	0.86	1.27	1.37	1.13	1.90	1.81
Net Debt to EBITDA	-2.18	-3.15	2.54	-4.21	-8.50	-1.70	-2.84	-1.39	-2.88	-2.25	-2.46
Long-Term Debt to EBITDA	0.94	1.59	1.53	2.28	0.59	0.86	1.27	1.37	1.13	1.90	1.81
Debt to NOPAT	1.30	2.71	5.75	3.58	0.89	1.23	1.87	2.33	2.01	3.44	3.33
Net Debt to NOPAT	-3.03	-5.38	3.98	-6.60	-12.87	-2.43	-4.19	-2.35	-5.11	-4.09	-4.54
Long-Term Debt to NOPAT	1.30	2.71	2.39	3.58	0.89	1.23	1.87	2.33	2.01	3.44	3.33
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.07%	0.16%	0.19%	0.17%	3.32%	16.69%	22.63%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4.29	370	-312	-455	52	-65	20	-96	-146	6.65	22
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	88.34%	625.50%
Free Cash Flow to Firm to Interest Expense	-0.03	2.62	-9.18	-33.45	2.62	-2.89	1.04	-9.09	-19.88	0.92	3.12
Operating Cash Flow to Interest Expense	0.79	0.76	3.46	7.18	3.97	2.58	2.70	3.87	3.38	2.09	1.56
Operating Cash Flow Less CapEx to Interest Expense	0.79	0.85	3.84	7.38	3.99	2.60	2.70	4.04	3.38	-0.28	1.31
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.03	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05
Fixed Asset Turnover	2.85	2.44	2.93	2.92	3.30	3.24	3.07	2.87	2.51	1.92	1.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,334	1,206	1,515	1,109	593	585	465	443	314	149	145
Invested Capital Turnover	0.28	0.20	0.23	0.26	0.33	0.32	0.32	0.35	0.41	0.40	0.37
Increase / (Decrease) in Invested Capital	128	-309	406	516	8.44	120	22	129	165	4.91	-12
Enterprise Value (EV)	1,220	843	1,520	607	-121	547	285	450	306	53	69
Market Capitalization	1,596	1,174	1,145	1,008	658	680	457	527	401	87	90
Book Value per Share	$77.11	$70.39	$66.26	$74.61	$53.46	$55.12	$40.59	$37.15	$32.29	$24.46	$21.11
Tangible Book Value per Share	$51.59	$43.67	$38.84	$46.21	$36.07	$37.40	$27.54	$24.05	$22.00	$23.50	$21.11
Total Capital	1,334	1,206	1,515	1,109	593	585	465	443	314	149	145
Total Debt	161	167	542	217	54	68	77	78	38	40	34
Total Long-Term Debt	161	167	225	217	54	68	77	78	38	40	34
Net Debt	-376	-331	375	-400	-779	-134	-173	-79	-95	-47	-46
Capital Expenditures (CapEx)	-0.04	-12	-13	-2.74	-0.34	-0.46	0.00	-1.72	0.00	17	1.77
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	161	167	542	217	54	68	77	78	38	40	34
Total Depreciation and Amortization (D&A)	17	18	22	14	11	7.31	6.28	7.07	5.13	3.32	3.85
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$8.24	$4.17	$6.78	$5.65	$5.82	$5.71	$4.26	$3.51	$2.49	$2.80	$2.33
Adjusted Weighted Average Basic Shares Outstanding	15.05M	14.74M	13.91M	10.74M	10.34M	9.56M	9.64M	9.44M	7.16M	4.00M	4.17M
Adjusted Diluted Earnings per Share	$8.05	$4.08	$6.56	$5.44	$5.70	$5.52	$4.12	$3.33	$2.37	$2.57	$2.25
Adjusted Weighted Average Diluted Shares Outstanding	15.42M	15.07M	14.37M	11.14M	10.54M	9.90M	9.96M	9.96M	7.51M	4.36M	4.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.26M	14.90M	14.69M	13.59M	9.98M	10.50M	9.46M	9.74M	8.59M	4.19M	4.02M
Normalized Net Operating Profit after Tax (NOPAT)	124	62	96	65	61	55	41	33	19	12	10
Normalized NOPAT Margin	35.41%	22.22%	32.06%	28.79%	31.90%	32.50%	28.29%	25.07%	19.72%	19.55%	17.93%
Pre Tax Income Margin	44.28%	31.22%	42.21%	36.00%	42.17%	42.16%	37.49%	37.26%	29.60%	29.86%	26.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.91	0.61	3.70	5.96	4.08	3.17	2.90	4.73	3.83	2.45	2.07
NOPAT to Interest Expense	0.73	0.44	2.78	4.46	3.04	2.44	2.19	3.18	2.55	1.60	1.42
EBIT Less CapEx to Interest Expense	0.91	0.70	4.09	6.16	4.09	3.19	2.90	4.89	3.83	0.08	1.82
NOPAT Less CapEx to Interest Expense	0.73	0.52	3.16	4.66	3.06	2.46	2.19	3.34	2.55	-0.76	1.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	13.34%	18.08%	0.00%	0.00%	0.00%	0.00%	0.67%	0.00%	3.39%	1.83%	2.43%
Augmented Payout Ratio	21.51%	20.55%	65.24%	103.18%	69.60%	51.76%	55.68%	44.89%	31.21%	1.83%	2.43%

This table displays calculated financial ratios and metrics derived from Nicolet Bankshares' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.76%	4.16%	16.32%	11.95%	135.77%	6.97%	2.66%	9.63%	-49.99%	19.12%	54.51%
EBITDA Growth	12.46%	9.12%	26.57%	15.88%	540.10%	1.49%	19.00%	-3.82%	-123.00%	59.40%	111.12%
EBIT Growth	16.92%	15.45%	28.34%	20.59%	362.32%	0.87%	28.22%	-4.55%	-141.04%	70.06%	145.31%
NOPAT Growth	17.28%	12.46%	89.51%	29.56%	403.33%	11.09%	-7.30%	-5.80%	-137.91%	69.28%	136.58%
Net Income Growth	17.28%	12.46%	89.51%	29.56%	412.32%	11.09%	-7.30%	-5.80%	-136.82%	69.28%	136.58%
EPS Growth	14.29%	8.33%	84.21%	27.15%	398.36%	10.87%	-11.63%	-12.72%	-135.88%	54.62%	76.71%
Operating Cash Flow Growth	78.72%	-11.61%	81.56%	13.74%	50.44%	25.71%	-42.55%	19.80%	-29.17%	-33.81%	311.02%
Free Cash Flow Firm Growth	-831.49%	-127.64%	-136.66%	100.39%	106.35%	189.73%	152.32%	59.23%	58.79%	24.22%	-798.26%
Invested Capital Growth	9.29%	10.64%	11.80%	2.34%	1.38%	-20.39%	-18.80%	18.22%	15.91%	36.62%	65.28%
Revenue Q/Q Growth	-3.22%	1.83%	6.82%	3.31%	-7.31%	13.72%	2.81%	117.56%	-57.95%	9.14%	9.79%
EBITDA Q/Q Growth	-5.47%	2.98%	9.74%	5.28%	-8.28%	19.44%	0.47%	499.84%	-121.15%	40.06%	-18.80%
EBIT Q/Q Growth	-7.09%	5.77%	11.15%	7.04%	-8.25%	17.57%	4.44%	332.83%	-135.28%	49.45%	-22.25%
NOPAT Q/Q Growth	-5.48%	6.04%	11.08%	5.34%	-9.36%	78.70%	-24.06%	346.63%	-133.19%	49.11%	-22.83%
Net Income Q/Q Growth	-5.48%	6.04%	11.08%	5.34%	-9.36%	78.70%	-24.06%	353.93%	-132.24%	49.11%	-22.83%
EPS Q/Q Growth	-5.88%	5.24%	9.38%	5.49%	-10.78%	78.95%	-24.50%	347.54%	-133.15%	42.64%	-25.43%
Operating Cash Flow Q/Q Growth	25.17%	-15.79%	6.19%	59.68%	-38.10%	72.98%	-33.48%	111.20%	-48.27%	-20.94%	38.72%
Free Cash Flow Firm Q/Q Growth	13.36%	11.28%	-16,580.69%	-94.23%	-96.73%	17.65%	273.60%	5.07%	53.72%	31.40%	-35.26%
Invested Capital Q/Q Growth	0.42%	1.81%	4.52%	2.28%	1.66%	2.88%	-4.33%	1.32%	-20.18%	4.93%	39.31%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	49.21%	50.38%	49.82%	48.49%	47.59%	48.09%	45.78%	46.85%	-25.49%	50.68%	39.50%
EBIT Margin	44.89%	46.75%	45.01%	43.26%	41.75%	42.18%	40.80%	40.16%	-37.53%	44.73%	32.67%
Profit (Net Income) Margin	36.44%	37.31%	35.83%	34.46%	33.80%	34.56%	21.99%	29.78%	-25.51%	33.28%	24.36%
Tax Burden Percent	81.19%	79.81%	79.61%	79.66%	80.94%	81.94%	53.91%	74.15%	67.99%	74.40%	74.57%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	18.81%	20.19%	20.39%	20.34%	19.06%	18.06%	46.09%	25.85%	0.00%	25.60%	25.43%
Return on Invested Capital (ROIC)	10.16%	10.29%	10.01%	9.28%	9.02%	7.05%	4.57%	7.10%	-6.13%	7.56%	5.98%
ROIC Less NNEP Spread (ROIC-NNEP)	10.16%	10.29%	10.01%	9.28%	9.02%	7.05%	4.57%	7.10%	-6.02%	7.56%	5.98%
Return on Net Nonoperating Assets (RNNOA)	1.44%	1.53%	1.69%	1.84%	1.82%	2.49%	1.68%	1.74%	-1.52%	3.08%	2.33%
Return on Equity (ROE)	11.60%	11.82%	11.70%	11.12%	10.84%	9.54%	6.25%	8.84%	-7.66%	10.63%	8.31%
Cash Return on Invested Capital (CROIC)	1.16%	-0.34%	-1.46%	6.15%	6.70%	27.23%	25.23%	-11.41%	-9.30%	-23.77%	-42.05%
Operating Return on Assets (OROA)	1.84%	1.90%	1.83%	1.70%	1.63%	1.36%	1.28%	1.37%	-1.27%	1.62%	1.21%
Return on Assets (ROA)	1.50%	1.51%	1.46%	1.35%	1.32%	1.11%	0.69%	1.01%	-0.87%	1.20%	0.91%
Return on Common Equity (ROCE)	11.60%	11.82%	11.70%	11.12%	10.84%	9.54%	6.25%	8.84%	-7.66%	10.63%	8.31%
Return on Equity Simple (ROE_SIMPLE)	10.89%	0.00%	10.46%	9.61%	9.23%	0.00%	6.00%	6.12%	6.36%	0.00%	8.84%
Net Operating Profit after Tax (NOPAT)	33	34	33	29	28	31	17	23	-9.16	28	19
NOPAT Margin	36.44%	37.31%	35.83%	34.46%	33.80%	34.56%	21.99%	29.78%	-26.27%	33.28%	24.36%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.12%	0.00%	0.00%
SG&A Expenses to Revenue	47.50%	45.84%	48.62%	48.60%	50.91%	51.18%	50.61%	51.28%	112.45%	45.97%	49.64%
Operating Expenses to Revenue	53.44%	52.17%	54.16%	55.15%	57.34%	56.69%	58.63%	59.25%	128.67%	53.04%	56.02%
Earnings before Interest and Taxes (EBIT)	40	43	41	37	34	37	32	30	-13	37	25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	44	47	45	41	39	43	36	36	-8.89	42	30
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.41	1.36	1.25	1.14	1.19	1.13	1.04	1.01	0.95	1.18	0.99
Price to Tangible Book Value (P/TBV)	2.09	2.03	1.90	1.77	1.89	1.82	1.76	1.70	1.62	2.01	1.75
Price to Revenue (P/Rev)	4.65	4.56	4.15	3.71	3.89	4.23	3.74	3.66	3.46	3.84	3.26
Price to Earnings (P/E)	12.90	12.86	11.98	11.82	12.88	19.08	17.37	16.49	14.88	12.15	11.19
Dividend Yield	1.03%	1.04%	1.11%	1.24%	1.17%	0.94%	0.73%	0.37%	0.00%	0.00%	0.00%
Earnings Yield	7.75%	7.77%	8.35%	8.46%	7.76%	5.24%	5.76%	6.06%	6.72%	8.23%	8.93%
Enterprise Value to Invested Capital (EV/IC)	0.93	0.91	0.89	0.79	0.81	0.70	0.56	0.59	0.85	1.00	0.68
Enterprise Value to Revenue (EV/Rev)	3.49	3.48	3.38	2.97	3.06	3.04	2.43	2.67	3.93	5.10	3.45
Enterprise Value to EBITDA (EV/EBITDA)	7.05	7.09	6.96	6.24	6.50	8.03	6.32	7.28	10.32	10.30	7.44
Enterprise Value to EBIT (EV/EBIT)	7.75	7.87	7.84	7.06	7.42	9.73	7.65	9.06	12.79	12.09	8.89
Enterprise Value to NOPAT (EV/NOPAT)	9.68	9.84	9.73	9.44	10.12	13.70	11.29	12.02	16.88	16.13	11.84
Enterprise Value to Operating Cash Flow (EV/OCF)	8.20	9.12	8.47	8.23	8.58	7.81	6.58	6.18	9.31	12.95	7.40
Enterprise Value to Free Cash Flow (EV/FCFF)	83.46	0.00	0.00	12.98	12.19	2.28	2.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.13	0.14	0.14	0.15	0.15	0.16	0.20	0.25	0.26	0.56	0.54
Long-Term Debt to Equity	0.13	0.14	0.14	0.15	0.15	0.16	0.20	0.20	0.21	0.23	0.24
Financial Leverage	0.14	0.15	0.17	0.20	0.20	0.35	0.37	0.24	0.25	0.41	0.39
Leverage Ratio	7.75	7.81	8.03	8.24	8.22	8.57	9.05	8.72	8.63	8.83	9.18
Compound Leverage Factor	7.75	7.81	8.03	8.24	8.22	8.57	9.05	8.72	8.63	8.83	9.18
Debt to Total Capital	11.69%	12.10%	12.30%	12.95%	13.24%	13.84%	16.87%	20.21%	20.46%	35.80%	35.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.08%	4.13%	20.93%	19.39%
Long-Term Debt to Total Capital	11.69%	12.10%	12.30%	12.95%	13.24%	13.84%	16.87%	16.13%	16.33%	14.88%	15.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	88.31%	87.90%	87.70%	87.05%	86.76%	86.16%	83.13%	79.79%	79.54%	64.20%	65.00%
Debt to EBITDA	0.88	0.94	0.96	1.02	1.06	1.59	1.89	2.51	2.47	3.67	3.83
Net Debt to EBITDA	-2.35	-2.18	-1.61	-1.58	-1.77	-3.15	-3.41	-2.71	1.22	2.54	0.40
Long-Term Debt to EBITDA	0.88	0.94	0.96	1.02	1.06	1.59	1.89	2.00	1.97	1.53	1.71
Debt to NOPAT	1.22	1.30	1.34	1.55	1.65	2.71	3.38	4.14	4.04	5.75	6.09
Net Debt to NOPAT	-3.23	-3.03	-2.25	-2.38	-2.76	-5.38	-6.09	-4.47	1.99	3.98	0.64
Long-Term Debt to NOPAT	1.22	1.30	1.34	1.55	1.65	2.71	3.38	3.30	3.23	2.39	2.71
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-81	-94	-106	0.64	11	340	289	-166	-175	-378	-552
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-1.96	-2.27	-2.39	0.01	0.27	8.65	7.51	-5.04	-5.71	-21.43	-71.39
Operating Cash Flow to Interest Expense	1.01	0.81	0.90	0.86	0.57	0.96	0.57	0.99	0.51	1.70	4.92
Operating Cash Flow Less CapEx to Interest Expense	1.01	0.81	0.90	0.86	0.57	0.96	0.57	0.99	0.51	1.70	4.92
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.04	0.04
Fixed Asset Turnover	2.92	2.85	2.87	2.80	2.79	2.44	2.42	2.52	2.54	2.93	2.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,340	1,334	1,311	1,254	1,226	1,206	1,172	1,225	1,209	1,515	1,444
Invested Capital Turnover	0.28	0.28	0.28	0.27	0.27	0.20	0.21	0.24	0.23	0.23	0.25
Increase / (Decrease) in Invested Capital	114	128	138	29	17	-309	-271	189	166	406	570
Enterprise Value (EV)	1,247	1,220	1,170	990	994	843	660	719	1,033	1,520	982
Market Capitalization	1,663	1,596	1,440	1,240	1,265	1,174	1,016	986	911	1,145	929
Book Value per Share	$77.55	$77.11	$76.32	$73.09	$71.35	$70.39	$66.11	$66.43	$65.45	$66.26	$69.98
Tangible Book Value per Share	$52.21	$51.59	$50.44	$46.87	$44.98	$43.67	$39.23	$39.37	$38.21	$38.84	$39.62
Total Capital	1,340	1,334	1,311	1,254	1,226	1,206	1,172	1,225	1,209	1,515	1,444
Total Debt	157	161	161	162	162	167	198	248	247	542	505
Total Long-Term Debt	157	161	161	162	162	167	198	198	197	225	225
Net Debt	-416	-376	-270	-250	-271	-331	-356	-267	122	375	53
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.26	0.00	0.00
Net Nonoperating Obligations (NNO)	157	161	161	162	162	167	198	248	247	542	505
Total Depreciation and Amortization (D&A)	3.86	3.35	4.36	4.45	4.80	5.24	3.89	5.08	4.20	4.94	5.19
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.14	$2.26	$2.16	$1.96	$1.86	$2.08	$1.16	$1.54	($0.61)	$1.89	$1.33
Adjusted Weighted Average Basic Shares Outstanding	15.26M	15.05M	15.05M	14.94M	14.91M	14.74M	14.74M	14.71M	14.69M	13.91M	13.89M
Adjusted Diluted Earnings per Share	$2.08	$2.21	$2.10	$1.92	$1.82	$2.04	$1.14	$1.51	($0.61)	$1.84	$1.29
Adjusted Weighted Average Diluted Shares Outstanding	15.65M	15.42M	15.48M	15.28M	15.25M	15.07M	15.10M	14.96M	14.69M	14.37M	14.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	15.08M	15.26M	15.21M	15.06M	14.93M	14.90M	14.76M	14.74M	14.72M	14.69M	14.68M
Normalized Net Operating Profit after Tax (NOPAT)	33	34	33	29	28	31	17	23	-9.05	28	19
Normalized NOPAT Margin	36.44%	37.31%	35.83%	34.46%	33.80%	34.56%	21.99%	29.80%	-25.94%	33.72%	24.87%
Pre Tax Income Margin	44.89%	46.75%	45.01%	43.26%	41.75%	42.18%	40.80%	40.16%	-37.53%	44.73%	32.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.97	1.05	0.92	0.84	0.83	0.95	0.83	0.92	-0.43	2.10	3.21
NOPAT to Interest Expense	0.78	0.84	0.73	0.67	0.67	0.78	0.45	0.68	-0.30	1.56	2.40
EBIT Less CapEx to Interest Expense	0.97	1.05	0.92	0.84	0.83	0.95	0.83	0.92	-0.43	2.10	3.21
NOPAT Less CapEx to Interest Expense	0.78	0.84	0.73	0.67	0.67	0.78	0.45	0.68	-0.30	1.56	2.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	13.26%	13.34%	13.24%	14.66%	15.15%	18.08%	12.66%	6.18%	0.00%	0.00%	0.00%
Augmented Payout Ratio	41.34%	21.51%	13.24%	14.66%	15.15%	20.55%	16.61%	10.04%	0.00%	65.24%	107.10%

Frequently Asked Questions About Nicolet Bankshares' Financials

When does Nicolet Bankshares's financial year end?

According to the most recent income statement we have on file, Nicolet Bankshares' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Nicolet Bankshares' net income changed over the last 10 years?

Nicolet Bankshares' net income appears to be on an upward trend, with a most recent value of $124.06 million in 2024, rising from $10.05 million in 2014. The previous period was $61.52 million in 2023. See where experts think Nicolet Bankshares is headed by visiting Nicolet Bankshares' forecast page.

How has Nicolet Bankshares revenue changed over the last 10 years?

Over the last 10 years, Nicolet Bankshares' total revenue changed from $56.07 million in 2014 to $350.33 million in 2024, a change of 524.8%.

How much debt does Nicolet Bankshares have?

Nicolet Bankshares' total liabilities were at $7.62 billion at the end of 2024, a 2.6% increase from 2023, and a 590.4% increase since 2014.

How much cash does Nicolet Bankshares have?

In the past 10 years, Nicolet Bankshares' cash and equivalents has ranged from $11.95 million in 2015 to $209.35 million in 2021, and is currently $115.94 million as of their latest financial filing in 2024.

How has Nicolet Bankshares' book value per share changed over the last 10 years?

Over the last 10 years, Nicolet Bankshares' book value per share changed from 21.11 in 2014 to 77.11 in 2024, a change of 265.3%.

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This page (NYSE:NIC) was last updated on 5/25/2025 by MarketBeat.com Staff

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Nicolet Bankshares (NIC) Financials

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Nicolet Bankshares (NIC) Financials

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