NICOLET BANKSHARES INC (NIC) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:NIC • US65406E1029

152.25 USD
+2.03 (+1.35%)
At close: Feb 6, 2026
152.285 USD
+0.03 (+0.02%)
After Hours: 2/6/2026, 8:04:00 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to NIC. NIC was compared to 383 industry peers in the Banks industry. NIC has a medium profitability rating, but doesn't score so well on its financial health evaluation. NIC is valued quite expensively, but it does show have an excellent growth rating.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year NIC was profitable.
  • NIC had a positive operating cash flow in the past year.
  • Each year in the past 5 years NIC has been profitable.
  • Of the past 5 years NIC 4 years had a positive operating cash flow.
NIC Yearly Net Income VS EBIT VS OCF VS FCFNIC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M

1.2 Ratios

  • The Return On Assets of NIC (1.60%) is better than 90.34% of its industry peers.
  • The Return On Equity of NIC (11.88%) is better than 80.16% of its industry peers.
Industry RankSector Rank
ROA 1.6%
ROE 11.88%
ROIC N/A
ROA(3y)1.26%
ROA(5y)1.13%
ROE(3y)9.49%
ROE(5y)9%
ROIC(3y)N/A
ROIC(5y)N/A
NIC Yearly ROA, ROE, ROICNIC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 37.94%, NIC belongs to the top of the industry, outperforming 93.47% of the companies in the same industry.
  • NIC's Profit Margin has improved in the last couple of years.
  • NIC does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 37.94%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y6.68%
PM growth 5Y4.18%
GM growth 3YN/A
GM growth 5YN/A
NIC Yearly Profit, Operating, Gross MarginsNIC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • NIC does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, NIC has less shares outstanding
  • NIC has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, NIC has an improved debt to assets ratio.
NIC Yearly Shares OutstandingNIC Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M
NIC Yearly Total Debt VS Total AssetsNIC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.2 Solvency

  • The Debt to FCF ratio of NIC is 0.88, which is an excellent value as it means it would take NIC, only 0.88 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 0.88, NIC is in the better half of the industry, outperforming 69.97% of the companies in the same industry.
  • A Debt/Equity ratio of 0.11 indicates that NIC is not too dependend on debt financing.
  • NIC's Debt to Equity ratio of 0.11 is fine compared to the rest of the industry. NIC outperforms 64.49% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.88
Altman-Z N/A
ROIC/WACCN/A
WACC8.51%
NIC Yearly LT Debt VS Equity VS FCFNIC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
NIC Yearly Current Assets VS Current LiabilitesNIC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. Growth

3.1 Past

  • NIC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 23.97%, which is quite impressive.
  • Measured over the past years, NIC shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.66% on average per year.
  • The Revenue has grown by 11.91% in the past year. This is quite good.
  • Measured over the past years, NIC shows a quite strong growth in Revenue. The Revenue has been growing by 15.36% on average per year.
EPS 1Y (TTM)23.97%
EPS 3Y12.52%
EPS 5Y11.66%
EPS Q2Q%28.11%
Revenue 1Y (TTM)11.91%
Revenue growth 3Y9.59%
Revenue growth 5Y15.36%
Sales Q2Q%-5.19%

3.2 Future

  • NIC is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.61% yearly.
  • The Revenue is expected to grow by 42.25% on average over the next years. This is a very strong growth
EPS Next Y13.34%
EPS Next 2Y18.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year38.91%
Revenue Next 2Y42.25%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
NIC Yearly Revenue VS EstimatesNIC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
NIC Yearly EPS VS EstimatesNIC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6 8 10

More info and screens

Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 15.33 indicates a correct valuation of NIC.
  • NIC's Price/Earnings ratio is a bit more expensive when compared to the industry. NIC is more expensive than 67.36% of the companies in the same industry.
  • NIC is valuated rather cheaply when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
  • NIC is valuated correctly with a Price/Forward Earnings ratio of 13.53.
  • Based on the Price/Forward Earnings ratio, NIC is valued a bit more expensive than the industry average as 66.06% of the companies are valued more cheaply.
  • When comparing the Price/Forward Earnings ratio of NIC to the average of the S&P500 Index (27.78), we can say NIC is valued rather cheaply.
Industry RankSector Rank
PE 15.33
Fwd PE 13.53
NIC Price Earnings VS Forward Price EarningsNIC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • The rest of the industry has a similar Price/Free Cash Flow ratio as NIC.
Industry RankSector Rank
P/FCF 14.67
EV/EBITDA N/A
NIC Per share dataNIC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • NIC's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • A more expensive valuation may be justified as NIC's earnings are expected to grow with 18.61% in the coming years.
PEG (NY)1.15
PEG (5Y)1.31
EPS Next 2Y18.61%
EPS Next 3YN/A

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. Dividend

5.1 Amount

  • NIC has a yearly dividend return of 0.87%, which is pretty low.
  • With a Dividend Yield of 0.87, NIC pays less dividend than the industry average, which is at 2.65. 82.51% of the companies listed in the same industry pay a better dividend than NIC!
  • With a Dividend Yield of 0.87, NIC pays less dividend than the S&P500 average, which is at 1.83.
Industry RankSector Rank
Dividend Yield 0.87%

5.2 History

  • The dividend of NIC is nicely growing with an annual growth rate of 86.72%!
  • NIC has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)86.72%
Div Incr Years1
Div Non Decr Years1
NIC Yearly Dividends per shareNIC Yearly Dividends per shareYearly Dividends per share 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • 13.08% of the earnings are spent on dividend by NIC. This is a low number and sustainable payout ratio.
  • NIC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP13.08%
EPS Next 2Y18.61%
EPS Next 3YN/A
NIC Yearly Income VS Free CF VS DividendNIC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
NIC Dividend Payout.NIC Dividend Payout, showing the Payout Ratio.NIC Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

NICOLET BANKSHARES INC

NYSE:NIC (2/6/2026, 8:04:00 PM)

After market: 152.285 +0.03 (+0.02%)

152.25

+2.03 (+1.35%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-20
Earnings (Next)04-13
Inst Owners51.16%
Inst Owner ChangeN/A
Ins Owners11.91%
Ins Owner Change3.3%
Market Cap2.25B
Revenue(TTM)392.04M
Net Income(TTM)144.36M
Analysts75.56
Price Target160.96 (5.72%)
Short Float %5.47%
Short Ratio4.84
Dividend
Industry RankSector Rank
Dividend Yield 0.87%
Yearly Dividend1.09
Dividend Growth(5Y)86.72%
DP13.08%
Div Incr Years1
Div Non Decr Years1
Ex-Date03-02
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)11.45%
Min EPS beat(2)7.52%
Max EPS beat(2)15.38%
EPS beat(4)4
Avg EPS beat(4)9.11%
Min EPS beat(4)4.88%
Max EPS beat(4)15.38%
EPS beat(8)8
Avg EPS beat(8)9.3%
EPS beat(12)10
Avg EPS beat(12)7.1%
EPS beat(16)13
Avg EPS beat(16)5.25%
Revenue beat(2)2
Avg Revenue beat(2)2.39%
Min Revenue beat(2)2.25%
Max Revenue beat(2)2.53%
Revenue beat(4)3
Avg Revenue beat(4)5.31%
Min Revenue beat(4)-5.37%
Max Revenue beat(4)21.84%
Revenue beat(8)6
Avg Revenue beat(8)2.28%
Revenue beat(12)8
Avg Revenue beat(12)-1.37%
Revenue beat(16)12
Avg Revenue beat(16)7%
PT rev (1m)0%
PT rev (3m)4.37%
EPS NQ rev (1m)-11.84%
EPS NQ rev (3m)-8.4%
EPS NY rev (1m)1.03%
EPS NY rev (3m)15.49%
Revenue NQ rev (1m)0.64%
Revenue NQ rev (3m)1.95%
Revenue NY rev (1m)33.19%
Revenue NY rev (3m)34.17%
Valuation
Industry RankSector Rank
PE 15.33
Fwd PE 13.53
P/S 5.92
P/FCF 14.67
P/OCF 14.03
P/B 1.85
P/tB 2.77
EV/EBITDA N/A
EPS(TTM)9.93
EY6.52%
EPS(NY)11.26
Fwd EY7.39%
FCF(TTM)10.38
FCFY6.81%
OCF(TTM)10.85
OCFY7.13%
SpS25.71
BVpS82.09
TBVpS54.95
PEG (NY)1.15
PEG (5Y)1.31
Graham Number135.43
Profitability
Industry RankSector Rank
ROA 1.6%
ROE 11.88%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 37.94%
GM N/A
FCFM 40.36%
ROA(3y)1.26%
ROA(5y)1.13%
ROE(3y)9.49%
ROE(5y)9%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y6.68%
PM growth 5Y4.18%
GM growth 3YN/A
GM growth 5YN/A
F-Score9
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.11
Debt/FCF 0.88
Debt/EBITDA N/A
Cap/Depr 50.09%
Cap/Sales 1.84%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 106.37%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score9
WACC8.51%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)23.97%
EPS 3Y12.52%
EPS 5Y11.66%
EPS Q2Q%28.11%
EPS Next Y13.34%
EPS Next 2Y18.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)11.91%
Revenue growth 3Y9.59%
Revenue growth 5Y15.36%
Sales Q2Q%-5.19%
Revenue Next Year38.91%
Revenue Next 2Y42.25%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y24.16%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y16.54%
OCF growth 3YN/A
OCF growth 5YN/A

NICOLET BANKSHARES INC / NIC FAQ

What is the fundamental rating for NIC stock?

ChartMill assigns a fundamental rating of 5 / 10 to NIC.


Can you provide the valuation status for NICOLET BANKSHARES INC?

ChartMill assigns a valuation rating of 3 / 10 to NICOLET BANKSHARES INC (NIC). This can be considered as Overvalued.


What is the profitability of NIC stock?

NICOLET BANKSHARES INC (NIC) has a profitability rating of 5 / 10.


What is the valuation of NICOLET BANKSHARES INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for NICOLET BANKSHARES INC (NIC) is 15.33 and the Price/Book (PB) ratio is 1.85.


How sustainable is the dividend of NICOLET BANKSHARES INC (NIC) stock?

The dividend rating of NICOLET BANKSHARES INC (NIC) is 3 / 10 and the dividend payout ratio is 13.08%.