NICOLET BANKSHARES INC (NIC)
Q1-CY2026Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014
Balance Sheet Date2025-Dec-312025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-31
Fiscal PeriodQ4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014
Total Revenue103,986,000$102,883,000$95,742,000$89,429,000$92,408,000$90,744,000$84,951,000$82,229,000$88,716,000$78,015,000$75,880,000$34,877,000$82,938,000$75,990,000$69,215,000$69,738,000$69,623,000$49,180,000$55,749,000$50,767,000$50,897,000$51,251,000$48,968,000$40,848,000$43,778,000$41,502,000$47,504,000$36,661,000$36,826,000$37,591,000$36,042,000$35,698,000$35,128,000$36,555,000$33,612,000$28,086,000$27,918,000$29,436,000$22,836,000$14,617,000$15,210,000$14,202,000$14,607,000$15,073,000$14,413,000$14,538,000$13,376,000$13,740,000$
QoQ%1.07%7.46%7.06%(3.22%)1.83%6.82%3.31%(7.31%)13.72%2.81%117.57%(57.95%)9.14%9.79%(.75%).17%41.57%(11.78%)9.81%(.26%)(.69%)4.66%19.88%(6.69%)5.48%(12.64%)29.58%(.45%)(2.04%)4.30%.96%1.62%(3.90%)8.76%19.68%.60%(5.16%)28.90%56.23%(3.90%)7.10%(2.77%)(3.09%)4.58%(.86%)8.69%(2.65%)(1.88%)
YoY%12.53%13.38%12.70%8.76%4.16%16.32%11.95%135.77%6.97%2.67%9.63%(49.99%)19.12%54.51%24.16%37.37%36.79%(4.04%)13.85%24.28%16.26%23.49%3.08%11.42%18.88%10.40%31.80%2.70%4.83%2.83%7.23%27.10%25.83%24.19%47.19%92.15%83.55%107.27%56.34%(3.03%)5.53%(2.31%)9.20%9.70%2.93%(17.14%)(40.77%)61.50%
Cost Of Revenue550,000$950,000$1,300,000$1,500,000$900,000$750,000$1,350,000$750,000$1,000,000$450,000$450,000$0$0$0$0$300,000$8,000,000$6,000,000$0$500,000$1,300,000$3,000,000$3,000,000$3,000,000$300,000$400,000$300,000$200,000$240,000$340,000$510,000$510,000$450,000$975,000$450,000$450,000$450,000$450,000$450,000$450,000$450,000$450,000$450,000$450,000$675,000$675,000$675,000$675,000$
Gross Profit103,436,000$101,933,000$94,442,000$87,929,000$91,508,000$89,994,000$83,601,000$81,479,000$87,716,000$77,565,000$75,430,000$34,877,000$82,938,000$75,990,000$69,215,000$69,438,000$61,623,000$43,180,000$55,749,000$50,267,000$49,597,000$48,251,000$45,968,000$37,848,000$43,478,000$41,102,000$47,204,000$36,461,000$36,586,000$37,251,000$35,532,000$35,188,000$34,678,000$35,580,000$33,162,000$27,636,000$27,468,000$28,986,000$22,386,000$14,167,000$14,760,000$13,752,000$14,157,000$14,623,000$13,738,000$13,863,000$12,701,000$13,065,000$
Gross Margin99.47%99.08%98.64%98.32%99.03%99.17%98.41%99.09%98.87%99.42%99.41%100.00%100.00%100.00%100.00%99.57%88.51%87.80%100.00%99.02%97.45%94.15%93.87%92.66%99.32%99.04%99.37%99.45%99.35%99.10%98.59%98.57%98.72%97.33%98.66%98.40%98.39%98.47%98.03%96.92%97.04%96.83%96.92%97.02%95.32%95.36%94.95%95.09%
Operating Expenses53,039,000$50,088,000$49,919,000$47,787,000$48,205,000$49,148,000$46,853,000$47,147,000$50,296,000$45,738,000$44,957,000$44,875,000$43,989,000$42,567,000$36,538,000$37,550,000$39,408,000$33,061,000$30,747,000$26,081,000$25,367,000$23,685,000$27,813,000$23,854,000$25,426,000$22,887,000$25,727,000$22,759,000$21,621,000$23,044,000$22,451,000$22,642,000$21,858,000$20,862,000$20,313,000$18,323,000$18,386,000$19,019,000$17,519,000$10,018,000$10,273,000$9,849,000$9,724,000$9,802,000$10,114,000$9,523,000$9,484,000$9,588,000$
Operating Income
Operating Margin
Interest Income
Interest Expenses39,344,000$41,069,000$42,529,000$41,535,000$41,284,000$44,256,000$43,536,000$41,224,000$39,263,000$38,410,000$33,018,000$30,655,000$17,664,000$7,728,000$4,442,000$4,123,000$4,076,000$3,557,000$2,736,000$3,235,000$4,019,000$4,710,000$5,395,000$5,740,000$5,723,000$5,477,000$5,626,000$5,684,000$5,298,000$4,938,000$4,742,000$3,911,000$3,329,000$3,063,000$2,353,000$1,766,000$1,868,000$1,891,000$1,885,000$1,690,000$1,812,000$1,842,000$1,818,000$1,741,000$1,751,000$1,730,000$1,833,000$1,753,000$
Income Before Tax50,197,000$51,845,000$44,773,000$40,142,000$43,203,000$40,846,000$36,748,000$34,332,000$37,420,000$31,827,000$30,473,000$(13,088,000$)37,099,000$24,823,000$31,927,000$31,888,000$21,815,000$10,119,000$25,002,000$24,186,000$24,230,000$24,566,000$18,155,000$13,994,000$18,052,000$18,215,000$21,477,000$13,702,000$14,965,000$14,207,000$13,081,000$12,546,000$12,820,000$14,718,000$12,849,000$9,313,000$9,082,000$9,967,000$4,867,000$4,149,000$4,487,000$3,903,000$4,433,000$4,821,000$3,624,000$4,340,000$3,217,000$3,477,000$
Tax Expenses9,873,000$10,110,000$8,738,000$7,550,000$8,723,000$8,330,000$7,475,000$6,542,000$6,759,000$14,669,000$7,878,000$(4,190,000$)9,498,000$6,313,000$7,942,000$7,724,000$5,510,000$2,295,000$6,718,000$5,947,000$6,145,000$6,434,000$4,576,000$3,321,000$5,670,000$4,603,000$2,833,000$3,352,000$4,015,000$3,268,000$3,255,000$2,908,000$3,662,000$5,133,000$4,440,000$3,032,000$2,939,000$3,438,000$1,545,000$1,449,000$1,637,000$1,281,000$1,463,000$1,708,000$1,182,000$1,552,000$641,000$1,232,000$
Net Income40,324,000$41,735,000$36,035,000$32,592,000$34,480,000$32,516,000$29,273,000$27,790,000$30,661,000$17,158,000$22,595,000$(8,898,000$)27,601,000$18,510,000$23,985,000$24,164,000$16,305,000$7,824,000$18,284,000$18,239,000$18,085,000$18,132,000$13,579,000$10,673,000$12,382,000$13,612,000$18,644,000$10,350,000$10,950,000$10,939,000$9,826,000$9,638,000$9,158,000$9,585,000$8,409,000$6,281,000$6,143,000$6,529,000$3,322,000$2,700,000$2,850,000$2,622,000$2,970,000$3,113,000$2,442,000$2,788,000$2,576,000$2,245,000$
Profit Margin38.78%40.57%37.64%36.45%37.31%35.83%34.46%33.80%34.56%21.99%29.78%(25.51%)33.28%24.36%34.65%34.65%23.42%15.91%32.80%35.93%35.53%35.38%27.73%26.13%28.28%32.80%39.25%28.23%29.73%29.10%27.26%27.00%26.07%26.22%25.02%22.36%22.00%22.18%14.55%18.47%18.74%18.46%20.33%20.65%16.94%19.18%19.26%16.34%
TTM38.44%38.07%36.82%36.04%35.41%34.69%31.41%30.23%22.17%21.51%22.18%23.27%31.64%29.16%28.04%27.25%26.92%30.22%34.86%33.70%31.50%29.63%28.70%31.86%32.45%32.96%32.09%28.59%28.29%27.39%26.64%26.09%25.07%24.11%22.98%20.57%19.72%18.76%17.19%19.00%19.55%19.12%19.30%19.02%17.93%15.46%14.90%26.00%
Earnings to Minority98,000$30,000$101,000$118,000$87,000$82,000$95,000$83,000$87,000$80,000$89,000$61,000$55,000$74,000$81,000$73,000$56,000$65,000$65,000$46,000$31,000$28,000$35,000$33,000$26,000$23,000$22,000$31,000$
Earnings to Common Shareholders40,324,000$41,735,000$36,035,000$32,592,000$34,480,000$32,516,000$29,273,000$27,790,000$30,661,000$17,158,000$22,595,000$(8,898,000$)27,601,000$18,510,000$23,985,000$24,164,000$16,305,000$7,824,000$18,284,000$18,239,000$17,987,000$18,102,000$13,478,000$10,555,000$12,295,000$13,530,000$18,549,000$10,267,000$10,863,000$10,859,000$9,737,000$9,577,000$9,103,000$9,511,000$8,328,000$6,208,000$6,087,000$6,217,000$2,983,000$2,542,000$2,789,000$2,534,000$2,874,000$3,019,000$2,355,000$2,704,000$2,493,000$2,153,000$
QoQ%(3.38%)15.82%10.56%(5.48%)6.04%11.08%5.34%(9.36%)78.70%(24.06%)353.93%(132.24%)49.11%(22.83%)(.74%)48.20%108.40%(57.21%).25%1.40%(.64%)34.31%27.69%(14.15%)(9.13%)(27.06%)80.67%(5.49%).04%11.52%1.67%5.21%(4.29%)14.21%34.15%1.99%(2.09%)108.41%17.35%(8.86%)10.06%(11.83%)(4.80%)28.20%(12.91%)8.46%15.79%133.77%
YoY%16.95%28.35%23.10%17.28%12.46%89.51%29.56%412.32%11.09%(7.30%)(5.80%)(136.82%)69.28%136.58%31.18%32.49%(9.35%)(56.78%)35.66%72.80%46.30%33.79%(27.34%)2.81%13.18%24.60%90.50%7.21%19.33%14.17%16.92%54.27%49.55%52.98%179.18%144.22%118.25%145.34%3.79%(15.80%)18.43%(6.29%)15.28%40.22%155.70%2.35%(77.65%)378.44%
Earnings Per Share, Basic2.73$2.81$2.40$2.14$2.25$2.16$1.96$1.86$2.07$1.16$1.54$(0.61$)1.88$1.33$1.79$1.77$1.29$0.75$1.85$1.82$1.79$1.75$1.29$1.00$1.22$1.45$1.98$1.09$1.14$1.13$1.01$0.98$0.93$0.97$0.88$0.72$0.71$0.72$0.41$0.61$0.69$0.64$0.72$0.75$0.58$0.66$0.59$0.51$
Earnings Per Share, Diluted2.65$2.73$2.34$2.08$2.20$2.10$1.92$1.82$1.97$1.14$1.51$(0.61$)1.83$1.29$1.73$1.70$1.25$0.73$1.77$1.75$1.74$1.72$1.28$0.98$1.18$1.40$1.91$1.05$1.12$1.09$0.98$0.94$0.87$0.91$0.83$0.69$0.68$0.69$0.39$0.57$0.64$0.58$0.66$0.70$0.55$0.63$0.58$0.50$
Unlevered FCF Per Share, Basic1.82$3.09$2.59$2.74$2.18$2.63$2.50$1.57$2.55$1.48$2.23$1.06$2.04$2.74$2.04$1.61$3.59$0.89$0.48$3.82$1.45$4.26$0.77$1.16$2.15$1.86$0.94$1.09$1.10$2.13$0.82$1.02$1.37$0.26$(0.23$)0.59$1.23$(0.32$)
Unlevered FCF Per Share, Diluted1.77$3.00$2.52$2.67$2.13$2.56$2.44$1.53$2.43$1.45$2.19$1.06$1.99$2.66$1.98$1.54$3.47$0.86$0.47$3.67$1.41$4.20$0.76$1.13$2.07$1.79$0.91$1.06$1.08$2.06$0.79$0.95$1.29$0.24$(0.22$)0.56$1.19$(0.32$)
Average Shares, Basic14,797,50014,835,67015,029,13715,256,37715,299,90515,052,52414,937,34714,907,12414,824,44014,740,31914,711,49014,694,45114,695,93013,890,06613,402,45513,648,74512,651,27610,391,8969,901,6149,997,63410,066,68610,348,86210,417,22610,515,77810,065,2659,346,8149,374,3489,461,4859,523,4019,633,1589,639,0989,765,3759,823,1249,836,6469,515,7458,584,2898,586,6118,607,7197,257,2184,181,9204,016,2573,961,0044,007,3684,031,3234,087,1634,118,7924,212,1744,242,887
Average Shares, Diluted15,234,50815,303,44015,431,12715,646,66115,658,78115,479,39515,275,93315,249,17915,528,46515,099,62214,959,77814,694,45115,122,51814,310,27513,852,17914,214,75213,074,86510,775,59110,325,69910,403,30910,346,07710,498,55210,519,73910,800,63610,453,6979,696,8509,692,3789,758,3519,681,4759,949,2959,969,85410,224,78810,473,90710,408,6839,991,6258,958,4259,000,5328,969,7357,629,1754,456,4424,377,3774,397,9064,366,2954,307,2744,309,5094,319,9754,332,0164,283,888
EBIT89,541,000$92,914,000$87,302,000$81,677,000$84,487,000$85,102,000$80,284,000$75,556,000$76,683,000$70,237,000$63,491,000$17,567,000$54,763,000$32,551,000$36,369,000$36,011,000$25,891,000$13,676,000$27,738,000$27,421,000$28,249,000$29,276,000$23,550,000$19,734,000$23,775,000$23,692,000$27,103,000$19,386,000$20,263,000$19,145,000$17,823,000$16,457,000$16,149,000$17,781,000$15,202,000$11,079,000$10,950,000$11,858,000$6,752,000$5,839,000$6,299,000$5,745,000$6,251,000$6,562,000$5,375,000$6,070,000$5,050,000$5,230,000$
EBITDA89,541,000$92,914,000$87,302,000$81,677,000$84,487,000$85,102,000$80,284,000$75,556,000$76,683,000$70,237,000$63,491,000$17,567,000$54,763,000$32,551,000$36,369,000$36,011,000$25,891,000$13,676,000$27,738,000$27,421,000$28,249,000$29,276,000$23,550,000$19,734,000$23,775,000$23,692,000$27,103,000$19,386,000$20,263,000$19,145,000$17,823,000$16,457,000$16,149,000$17,781,000$15,202,000$11,079,000$10,950,000$11,858,000$6,752,000$5,839,000$6,299,000$5,745,000$6,251,000$6,562,000$5,375,000$6,070,000$5,050,000$5,230,000$