Nicolet Bankshares Inc.: stock overview

NICNYSEFinancial services · National Commercial BanksBank

Price

$174.08

November 13, 2026Market cap $3.7B

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  • The full history: 14 fiscal years, from 2012
  • The estimated fair value, with its range and its certainty
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  • More questions to the chat on its filings
  • Excel with every year
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In short

Nicolet Bankshares had revenue of $591M over the last 12 months and net income of $176M, a net margin of 29.8%. Revenue grew by 15.4% a year on average over the last 5 years. At $174.08 the shares trade at a P/E of 21.1, against a median of 13.0 over the last 5 fiscal years. It pays a dividend yielding 0.78%.

From its SEC filings (latest fiscal year to December 31, 2025) and the price of November 13, 2026.

Its SEC filings
Market cap
$3.7B
21.37M shares
P/E
21.1
Today21.1
Median13.0
Revenue, 12 months
$591M
+15.4% a year over 5 years
Net margin
29.8%
2025: 38.4%, above 93% of its industry

Worth knowing

What a holder would want to hear from the company's SEC filings of the last three years. Each with its filing, without comment.

3 fiscal years in figures

Each fiscal year's figures as the company filed them, and the share price at its end.

2023–2025 fiscal years

+18.9% a year over 2 years

  • 202510-K
    Revenue$392M
  • 202410-K
    Revenue$350M
  • 202310-K
    Revenue$277M

Fiscal years in figures

NIC's revenue, profit, cash flow and dividend with each year-end price, from 2012 to 2022, 11 more fiscal years

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Key figures

The company's current figures in five groups. Each term is explained behind its ⓘ.

Valuation

Market cap 3-year median: $1.6B
$3.7B
P/E 3-year median: 13.0
21.1
P/B 3-year median: 1.4
1.7
Earnings yield 3-year median: 7.7%
4.7%

Profitability

Net margin 3-year median: 35.4%
29.8%
ROE 
9.5%

Growth

Revenue, yearly change 
+11.9%
EPS, yearly change 
+21.5%
Revenue, average a year 
+15.4%
EPS, average a year 
+11.4%

The yearly change compares FY2025 with FY2024.

Returns to shareholders

Dividend yield 3-year median: 1.0%
0.78%
Buybacks 
2.06%
Total returned 
2.84%
Shares, yearly change 
+40.0%
Valuation against its own pastEach fiscal year's P/E and P/B beside today's, and the calculator for the bank.Valuation

Bank health

Core capital (CET1) is 11.1% of risk-weighted assets, loan reserves cover the loans past due 1.9 times, and the group earned 8.9% on its common equity over the last 12 months.

11.1%
33%
0.63%
1.19%
1.87x
0.03%
4.33%
62%
86%
9.6%

The NICOLET BANKSHARES, INC. group (Federal Reserve)

8.9%
16%
6.5x
1.4 years of dividends

Historically, in the Fed's data for US banks from 2001 to 2025, when a group paid out more than 75% of its earnings about 4 in 10 cut the dividend the next year, against about 1 in 20 of the rest. Capital (CET1) did not tell the cutters apart. It is a historical measure, not a forecast for this bank.

A year earlier (Jun 30, 2025): CET1 from 11.1% to 11.1% · Uninsured from 30% to 33% · Past due from 0.40% to 0.63% · Reserves to loans from 1.00% to 1.19%

From quarterly FDIC Call Reports for Nicolet National Bank, as of Jun 30, 2026. Group figures from FR Y-9C filings with the Federal Reserve, as of Jun 30, 2026.

Against its industry

Where its margins and returns stood in fiscal 2025 among the SEC filers of its industry (SIC code 60).

Net margin

38.4%

Above 93% of the 317 companies in its industry, and 96% of all.

ROE

12.0%

Above 78% of the 316 companies in its industry, and 68% of all.

ROA

1.6%

Above 91% of the 316 companies in its industry, and 52% of all.

Revenue growth

11.9%

Above 54% of the 313 companies in its industry, and 67% of all.

From the yearly figures every company files with the SEC, for those with revenue of at least $25 million. The industry is the first two digits of the SIC code.

The company at the SEC

How it is registered and when its fiscal year ends.

Name at the SEC
NICOLET BANKSHARES INC
CIK
1174850
Exchange
NYSE
Industry (SIC)
6021 · National Commercial Banks
Fiscal year ends
December 31
Latest annual report
December 31, 2025
Reporting currency
USD
Shares
21.37M

Other companies: Financial services

The largest companies of the same sector, each with its own page.

The Financial services sectorAll companies

The full analysis

What do Nicolet Bankshares's filings show?

These are Nicolet Bankshares's figures. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

  • A fair value range built from the filings
  • Earnings quality, debt and red flags
  • Insider and institutional moves
  • The case for and the case against

Questions about NIC

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What is NIC's market cap?

Nicolet Bankshares Inc.'s market cap is $3.7B, at a price of $174.08 on November 13, 2026 and 21.37M shares.

What is NIC's P/E?

NIC's P/E is 21.1, on earnings per share of $9.03 over the last 12 months. The median over the last 5 fiscal years was 13.0.

How much revenue does NIC have?

Nicolet Bankshares had revenue of $591M over the last 12 months. Over the last 5 years it changed by +15.4% a year on average.

Does NIC pay a dividend?

Yes. Nicolet Bankshares paid $1.36 per share over the last 12 months, a yield of 0.78% at today's price. All the figures are in the Dividend section.

Where do the figures come from?

From Nicolet Bankshares Inc.'s SEC filings (10-K and 10-Q) and the share price. They hold no analyst estimates and no score, and they are not a recommendation.

Related pages

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

US stocksThe market today, the sectors, the largest companies and the week's results.The market's sectorsThe 11 sectors side by side: returns, share of the market, median P/E and dividend.Compare stocksTwo companies side by side: price over up to ten years, with and without dividends, and every figure.US dividend stocksEach dividend's yield next to whether the company's cash covers it and whether it was ever cut.

The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.