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Friday 6 November 2026
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Nicolet Bankshares Inc.
Nicolet Bankshares Inc.’s revenue for fiscal 2025 (year ended December 2025) was $556.5 million, up 6.89% from fiscal 2024.
- Revenue
- +61.6%
- EPS
- +8.19%
- Free cash flow
- +40.2%
- Total debt
- −31.1%
Quarter to September 2026, against a year earlier
172.90
2.34
−1.34%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
12.05 | 12.75 | 19.43 | 11.65 | 15.02 | 11.38 | 12.87 | 11.46 | 15.29 | 19.62 |
Piotroski F-Score |
9 | 8 | 6 | 7 | 4 | 5 | 8 | 6 | 5 | 6 |
P/S ratio |
3.27 | 3.03 | 2.84 | 3.31 | 3.85 | 3.24 | 3.68 | 2.85 | 3.51 | 3.37 |
P/FCF ratio |
11.94 | 13.46 | 11.69 | 10.43 | 10.51 | 10.02 | 13.03 | 9.49 | 12.50 | 15.12 |
P/Operating CF |
67.35 | 47.29 | 31.55 | 36.51 | 20.28 | 46.89 | 32.64 | 45.08 | 46.93 | 26.44 |
P/B ratio |
1.44 | 1.35 | 1.15 | 1.13 | 1.03 | 1.27 | 1.37 | 1.21 | 1.38 | 1.25 |
Price to Tangible BV |
2.08 | 2.01 | 1.85 | 1.92 | 1.67 | 1.89 | 2.01 | 1.79 | 2.14 | 1.83 |
EV/Sales |
2.32 | 2.31 | 2.05 | 3.48 | 2.18 | (0.44) | 2.98 | 1.80 | 2.96 | 2.31 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
8.41 | 9.00 | 7.97 | 9.84 | 5.33 | (1.17) | 9.85 | 5.83 | 10.47 | 9.51 |
EV/FCF |
8.49 | 10.27 | 8.44 | 10.98 | 5.94 | (1.35) | 10.56 | 6.00 | 10.55 | 10.36 |
Quick Ratio |
0.08 | 0.07 | 0.07 | 0.02 | 0.09 | 0.21 | 0.07 | 0.10 | 0.06 | 0.07 |
Current Ratio |
0.97 | 0.97 | 0.95 | 0.85 | 0.81 | 0.93 | 0.94 | 0.93 | 0.91 | 0.87 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
1.47% | 1.83% | 1.97% | 2.57% | 2.82% | 1.18% | 1.89% | 2.50% | 2.66% | 1.07% |
Debt/Equity |
0.11 | 0.14 | 0.16 | 0.23 | 0.24 | 0.10 | 0.13 | 0.20 | 0.21 | 0.09 |
Asset Turnover |
0.06 | 0.06 | 0.05 | 0.04 | 0.04 | 0.05 | 0.06 | 0.05 | 0.06 | 0.06 |
Operating CF/Net income |
1.02 | 1.08 | 1.76 | 1.25 | 1.61 | 1.31 | 1.06 | 1.24 | 1.23 | 1.39 |
Capex/Depreciation |
(0.09) | (0.97) | (0.33) | (0.56) | (0.73) | (0.98) | (0.54) | (0.23) | (0.04) | (0.40) |
| 12.40% | 11.22% | 6.12% | 10.11% | 8.48% | 11.38% | 12.08% | 10.91% | 10.34% | 9.54% | |
| 1.68% | 1.44% | 0.71% | 1.15% | 0.99% | 1.48% | 1.64% | 1.36% | 1.27% | 1.01% | |
ROIC |
16.12% | 12.15% | 7.66% | 7.73% | 11.03% | 0.00% | 11.67% | 15.99% | 10.85% | 10.44% |
Return on Tangible Assets |
(142.89%) | (113.98%) | (28.22%) | (9.14%) | (5.36%) | (25.86%) | (41.13%) | (28.48%) | (19.51%) | (7.97%) |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
35.47% | 36.17% | 43.60% | 49.38% | 56.53% | 50.24% | 48.98% | 52.69% | 54.89% | 61.96% |
Intangible Assets out of Total Assets |
0.04 | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.04 | 0.04 | 0.04 |
Share Based Compensation of Revenue |
1.32% | 1.27% | 1.54% | 2.11% | 3.06% | 2.69% | 2.62% | 2.97% | 2.13% | 1.57% |
Graham Net Nets |
(0.20) | (0.25) | (0.42) | (1.25) | (1.62) | (0.50) | (0.36) | (0.57) | (0.58) | (0.86) |
Graham Number |
137.92 | 120.13 | 81.22 | 103.20 | 103.31 | 82.72 | 83.56 | 62.06 | 55.17 | 46.13 |
Earnings Yield |
8.30% | 7.84% | 5.15% | 8.58% | 6.66% | 8.79% | 7.77% | 8.73% | 6.54% | 5.10% |
Free Cash Flow Yield |
8.37% | 7.43% | 8.55% | 9.59% | 9.52% | 9.98% | 7.68% | 10.53% | 8.00% | 6.61% |
Revenue per Share |
37.15 | 34.60 | 28.41 | 23.86 | 22.26 | 20.49 | 20.07 | 17.12 | 15.24 | 14.27 |
Operating CF per Share |
10.25 | 8.89 | 7.32 | 8.44 | 9.10 | 7.63 | 6.08 | 5.29 | 4.31 | 3.47 |
Capex per Share |
(0.09) | (1.10) | (0.41) | (0.88) | (0.94) | (1.01) | (0.41) | (0.15) | (0.03) | (0.29) |
Free Cash Flow per Share |
10.16 | 7.79 | 6.91 | 7.56 | 8.16 | 6.62 | 5.67 | 5.14 | 4.28 | 3.18 |
Cash per Share |
44.07 | 35.62 | 33.77 | 12.02 | 57.49 | 80.52 | 21.06 | 25.99 | 16.60 | 18.59 |
Shareholders Equity per Share |
83.96 | 77.94 | 70.47 | 69.92 | 83.08 | 52.16 | 54.07 | 40.18 | 38.65 | 38.61 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
83.96 | 77.94 | 70.47 | 69.92 | 83.08 | 52.16 | 54.07 | 40.18 | 38.65 | 38.61 |
Free Cash Flow |
152.17 | 117.27 | 101.92 | 105.16 | 87.61 | 68.45 | 54.20 | 49.55 | 40.42 | 22.76 |
Working Capital |
(225.92) | (235.82) | (336.71) | (1,140.69) | (1,225.45) | (292.46) | (189.33) | (192.27) | (217.07) | (269.62) |
Capital Expenditures |
(1.36) | (16.48) | (6.05) | (12.23) | (10.05) | (10.45) | (3.93) | (1.44) | (0.29) | (2.05) |
Net Current Asset Value |
(360.78) | (397.21) | (503.64) | (1,366.03) | (1,493.95) | (346.33) | (256.96) | (269.58) | (295.12) | (294.35) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.00 | 0.03 | 0.01 | 0.04 | 0.04 | 0.05 | 0.02 | 0.01 | 0.00 | 0.02 |
Price to Operating Income |
9.62 | 10.18 | 13.72 | 8.61 | 10.61 | 8.37 | 9.79 | 8.58 | 10.28 | 12.54 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.12 | 0.13 | 0.16 | 0.20 | 0.15 | 0.18 | 0.13 | 0.13 | 0.15 | 0.11 |
Cash ROIC |
7.41% | 6.27% | 5.98% | 7.70% | 5.08% | 4.80% | 6.90% | 6.93% | 6.74% | 5.24% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.02 | 0.02 | 0.02 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
17,155.78 | 15,868.14 | 18,586.99 | 77,165.42 | 173,482.75 | 71,853.38 | 47,906.50 | 50,514.08 | 85,809.00 | 98,042.66 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Payables |
7,567.23 | 7,300.74 | 7,188.36 | 6,822.42 | 5,188.16 | 3,432.43 | 2,784.30 | 2,542.60 | 2,220.53 | 1,513.20 |
Average Assets |
8,990.95 | 8,632.74 | 8,616.32 | 8,229.50 | 6,123.41 | 4,064.52 | 3,336.90 | 3,014.48 | 2,616.66 | 1,757.66 |
Average Common Equity |
1,215.28 | 1,105.95 | 1,005.77 | 932.21 | 715.54 | 528.09 | 452.17 | 376.12 | 320.62 | 186.93 |
Columns are period end dates · fundamentals updated 3 Nov 2026