profit from every $100 of sales.
$0$100
Nicolet Bankshares
$174.12-0.42% today
+39.6% in 1 year
1-year low $119.771-year high $179.02
Trading close to its highest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay $24.02 for every $1 of profit it makes in a year.
CheapExpensive
Not measured for banks and insurers: deposits and policy reserves count as debt, so the usual debt test says nothing about them.
Money in, money out
What Nicolet Bankshares sold, what it kept, and what it did with the cash.
Sales went from $298 million in 2022 to $392 million in 2025, with $151 million of profit last year.
SalesProfit
Nicolet Bankshares handed back 72% of the cash it generated last year.
Buybacks $89M
Free cash flow 2025$149M
Bought back its own shares$89M
Paid as dividends$19M
Cash vs. debt$660M vs. $135M
Nicolet Bankshares vs. similar companies
Nicolet Bankshares grows in the middle of these 5 and is the most expensive for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Nicolet Bankshares | 24.0× · Fair price | ||
 China Merchants Bank | 7.7× · Cheap | ||
 DBS Group Holdings | 18.5× · Fair price | ||
 UniCredit | 11.5× · Cheap | ||
 HDFC Bank | 18.6× · Fair price |
AI analysis
An AI analyst reads Nicolet Bankshares's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 298 | 276 | 349 | 392 | |
| – | – | – | – | |
| – | – | – | – | |
| – | – | – | – | |
| 94 | 62 | 124 | 151 | |
| 6.56 | 4.08 | 8.05 | 9.78 | |
| – | – | – | – | |
| – | – | – | – | |
| 31.6% | 22.3% | 35.5% | 38.4% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 8,764 | 8,469 | 8,797 | 9,185 |
| Cash | 167 | 498 | 536 | 660 |
| Total debt | 542 | 167 | 161 | 135 |
| Total liabilities | 7,791 | 7,430 | 7,624 | 7,927 |
| 973 | 1,039 | 1,173 | 1,258 | |
| 14 | 15 | 15 | 15 | |
| – | – | – | – | |
| 9.7% | 5.9% | 10.6% | 12.0% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 117 | 108 | 134 | 154 | |
| 12 | 19 | 17 | 4 | |
| 105 | 89 | 117 | 149 | |
| Dividends paid | 0 | 11 | 17 | 19 |
| 61 | 6 | 12 | 89 | |
| 7 | 6 | 7 | 7 |
This is a bank or insurer, so cash-flow and debt ratios are left out: borrowing and lending is the business itself. Price to book and return on equity are the measures that matter here.
Valuation
- 24.0×
- 15.1×
- 1.69
- 2.9×
- 9.2×
- 4.2%
- 0.9%
Profitability
- 38.4%
- 4.5%
- 7.4%
- 9.0%
- 0.9%
Growth
- +9.6%
- +14.2%
- –
- +2.3%
How it ranks in Financial Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 48%of 827
Top 29%of 709
Bottom 20%of 876
Top 44%of 879
Bottom 40%of 926
What analysts expect
- Average price target
- $182.67
- Range
- $173.00 – $190.00
- 1 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| Apr 21, 2026 | 2.75 | 2.98 | −7.7% |
| Jan 20, 2026 | 2.73 | 2.55 | +7.1% |
| Oct 23, 2025 | 2.66 | 2.37 | +12.2% |
| Jul 15, 2025 | 2.35 | 2.14 | +9.8% |
| Apr 15, 2025 | 2.10 | 1.96 | +7.1% |
| Jan 21, 2025 | 2.17 | 1.98 | +9.6% |
| Oct 15, 2024 | 2.10 | 1.86 | +12.9% |
| Jul 16, 2024 | 1.92 | 1.66 | +15.7% |
0.9%of the share price, paid each year
On $1,000 invested$9a year at today's yield, before tax
–per share
Raised2 yearsin a row, in our data
Paid per share, each year
$0.75 in 2023 → $1.24 in 2025
How safe it looks
12.4% of its profit
Room to growStretchedMore than it earns: 12.5%
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
1/7Passes 1 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
54No pass
Benjamin Graham
45No pass
Philip Fisher
73Pass
Peter Lynch
58No pass
Joel Greenblatt
9No pass
Charlie Munger
57No pass
Terry Smith
54No pass
Questions about Nicolet Bankshares
Is Nicolet Bankshares a good stock to buy?
A strong, very profitable business at a fair price. 1 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Nicolet Bankshares AI analysis
What does Nicolet Bankshares do?
Nicolet Bankshares, Inc. operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals in Wisconsin, Michigan, and Minnesota. It is in Banks - Regional, based in Green Bay, WI, United States, with 1,236 employees.
Does Nicolet Bankshares pay a dividend?
Yes. At today's price the dividend is 0.9% a year, about 12% of its yearly profit. In 2025 it paid out $18.7 million in dividends.
Is Nicolet Bankshares stock halal?
No. Nicolet Bankshares does not pass our halal screen: its main business, banking, is not permitted. How we check
How has Nicolet Bankshares stock done over the past year?
Up 39.6% over the past twelve months, to $174.12. It traded between $119.77 and $179.02 and is 2.7% below its high.
Who are Nicolet Bankshares's competitors?
The largest listed companies in the same industry are China Merchants Bank, DBS Group Holdings, UniCredit and HDFC Bank. The peers table on this page compares their profit, growth and price with Nicolet Bankshares's.
Prices: daily closes to Nov 12, 2026. Fundamentals: company reports via invest-like data.