Nicolet Bankshares Inc.

NIC Financial Banks Regional

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%
Market cap
$3.6B
P/E
18.7×
Fwd P/E
17.7×
Dividend yield
—
F-score
9/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Nicolet Bankshares Inc. (NIC) Free cash flow margin

Alert me on Free cash flow margin

Nicolet Bankshares Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 24.9%, down 2.5 percentage points from fiscal 2025 (27.3%). Over the past ten years it has ranged from 22.3% (fiscal 2016) to 36.7% (fiscal 2021); the current reading is higher than 45% of that period. That is above the Banks Regional industry median of 18.0% and above the Financial sector median of 11.4%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 27.3% 4.82
FY2024 22.5% (1.81)
FY2023 24.3% (7.36)
FY2022 31.7% (4.98)
FY2021 36.7% 4.36
FY2020 32.3% 4.07
FY2019 28.2% (1.78)
FY2018 30.0% 1.93
FY2017 28.1% 5.81
FY2016 22.3% (4.68)

Against its own ten years

Low 22.3% High 36.7%
Ten-year median 28.1%
Current reading's percentile 45

Free cash flow margin against peers

Company Free cash flow margin
NIC Nicolet Bankshares Inc. 24.9%
WSBC WesBanco, Inc. compare 24.7%
FIBK First Interstate BancSystem, Inc. compare 19.6%
TOWN Towne Bank compare 9.26%
BMA Macro Bank Inc. compare 0.00%
RNST Renasant Corporation compare 0.00%
CBU Community Financial System, Inc. compare 0.00%
BANF BancFirst Corporation compare 0.00%
FFBC First Financial Bancorp. compare 0.00%
Banks Regional industry median 18.0%
Financial sector median 11.4%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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