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NICOLET BANKSHARES INC (NIC) Stock Fundamental Analysis

NYSE:NIC - New York Stock Exchange, Inc. - US65406E1029 - Common Stock - Currency: USD

116.06  +1.72 (+1.5%)

After market: 116.06 0 (0%)

Fundamental Rating

4

Overall NIC gets a fundamental rating of 4 out of 10. We evaluated NIC against 398 industry peers in the Banks industry. NIC has a medium profitability rating, but doesn't score so well on its financial health evaluation. While showing a medium growth rate, NIC is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

NIC had positive earnings in the past year.
In the past year NIC had a positive cash flow from operations.
In the past 5 years NIC has always been profitable.
Each year in the past 5 years NIC 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

1.2 Ratios

With an excellent Return On Assets value of 1.41%, NIC belongs to the best of the industry, outperforming 88.19% of the companies in the same industry.
With a decent Return On Equity value of 10.58%, NIC is doing good in the industry, outperforming 74.12% of the companies in the same industry.
Industry RankSector Rank
ROA 1.41%
ROE 10.58%
ROIC N/A
ROA(3y)1.07%
ROA(5y)1.06%
ROE(3y)8.73%
ROE(5y)8.83%
ROIC(3y)N/A
ROIC(5y)N/A
NIC Yearly ROA, ROE, ROICNIC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

The Profit Margin of NIC (35.41%) is better than 92.46% of its industry peers.
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) 35.41%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y9.56%
PM growth 5Y1.91%
GM growth 3YN/A
GM growth 5YN/A
NIC Yearly Profit, Operating, Gross MarginsNIC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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3

2. Health

2.1 Basic Checks

NIC does not have a ROIC to compare to the WACC, probably because it is not profitable.
NIC has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, NIC has more shares outstanding
The debt/assets ratio for NIC has been reduced compared to a year ago.
NIC Yearly Shares OutstandingNIC Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M
NIC Yearly Total Debt VS Total AssetsNIC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

NIC has a debt to FCF ratio of 1.33. This is a very positive value and a sign of high solvency as it would only need 1.33 years to pay back of all of its debts.
NIC's Debt to FCF ratio of 1.33 is fine compared to the rest of the industry. NIC outperforms 69.10% of its industry peers.
A Debt/Equity ratio of 0.13 indicates that NIC is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.13, NIC is in the better half of the industry, outperforming 65.33% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 1.33
Altman-Z N/A
ROIC/WACCN/A
WACC8.6%
NIC Yearly LT Debt VS Equity VS FCFNIC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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5

3. Growth

3.1 Past

NIC shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 17.81%, which is quite good.
Measured over the past years, NIC shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.93% on average per year.
The Revenue has grown by 10.07% in the past year. This is quite good.
NIC shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.63% yearly.
EPS 1Y (TTM)17.81%
EPS 3Y13.35%
EPS 5Y9.93%
EPS Q2Q%14.29%
Revenue 1Y (TTM)10.07%
Revenue growth 3Y15.84%
Revenue growth 5Y15.63%
Sales Q2Q%13.37%

3.2 Future

The Earnings Per Share is expected to grow by 6.84% on average over the next years.
Based on estimates for the next years, NIC will show a quite strong growth in Revenue. The Revenue will grow by 9.71% on average per year.
EPS Next Y9.75%
EPS Next 2Y6.84%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year15.82%
Revenue Next 2Y9.71%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NIC Yearly Revenue VS EstimatesNIC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 100M 200M 300M
NIC Yearly EPS VS EstimatesNIC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2 4 6 8

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2

4. Valuation

4.1 Price/Earnings Ratio

NIC is valuated correctly with a Price/Earnings ratio of 14.03.
Compared to the rest of the industry, the Price/Earnings ratio of NIC indicates a slightly more expensive valuation: NIC is more expensive than 65.08% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.64, NIC is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 12.69, the valuation of NIC can be described as correct.
Based on the Price/Forward Earnings ratio, NIC is valued a bit more expensive than 66.58% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.44. NIC is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 14.03
Fwd PE 12.69
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

62.56% of the companies in the same industry are cheaper than NIC, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 15.05
EV/EBITDA N/A
NIC Per share dataNIC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

NIC's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.44
PEG (5Y)1.41
EPS Next 2Y6.84%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

NIC has a yearly dividend return of 0.98%, which is pretty low.
With a Dividend Yield of 0.98, NIC pays less dividend than the industry average, which is at 3.68. 83.42% of the companies listed in the same industry pay a better dividend than NIC!
With a Dividend Yield of 0.98, NIC pays less dividend than the S&P500 average, which is at 2.52.
Industry RankSector Rank
Dividend Yield 0.98%

5.2 History

The dividend of NIC is nicely growing with an annual growth rate of 86.72%!
NIC has paid a dividend for less than 5 years, so there is no long track record yet.
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 0.2 0.4 0.6 0.8 1

5.3 Sustainability

NIC pays out 13.34% of its income as dividend. This is a sustainable payout ratio.
NIC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP13.34%
EPS Next 2Y6.84%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
NIC Dividend Payout.NIC Dividend Payout, showing the Payout Ratio.NIC Dividend Payout.PayoutRetained Earnings

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NICOLET BANKSHARES INC

NYSE:NIC (4/23/2025, 8:24:54 PM)

After market: 116.06 0 (0%)

116.06

+1.72 (+1.5%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-15 2025-04-15/amc
Earnings (Next)07-14 2025-07-14/amc
Inst Owners48.07%
Inst Owner ChangeN/A
Ins Owners11.65%
Ins Owner Change0.46%
Market Cap1.76B
Analysts73.33
Price Target126.48 (8.98%)
Short Float %0.98%
Short Ratio2.54
Dividend
Industry RankSector Rank
Dividend Yield 0.98%
Yearly Dividend1.09
Dividend Growth(5Y)86.72%
DP13.34%
Div Incr Years1
Div Non Decr Years1
Ex-Date03-10 2025-03-10 (0.28)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.16%
Min EPS beat(2)8.66%
Max EPS beat(2)11.67%
EPS beat(4)4
Avg EPS beat(4)11.07%
Min EPS beat(4)8.66%
Max EPS beat(4)14.38%
EPS beat(8)7
Avg EPS beat(8)8.35%
EPS beat(12)9
Avg EPS beat(12)4.67%
EPS beat(16)12
Avg EPS beat(16)1.33%
Revenue beat(2)2
Avg Revenue beat(2)12.06%
Min Revenue beat(2)2.28%
Max Revenue beat(2)21.84%
Revenue beat(4)3
Avg Revenue beat(4)3.65%
Min Revenue beat(4)-13.31%
Max Revenue beat(4)21.84%
Revenue beat(8)5
Avg Revenue beat(8)-3.76%
Revenue beat(12)9
Avg Revenue beat(12)5.14%
Revenue beat(16)13
Avg Revenue beat(16)15.93%
PT rev (1m)0%
PT rev (3m)2.81%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.72%
EPS NY rev (1m)3.52%
EPS NY rev (3m)8.56%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)10.12%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)10.87%
Valuation
Industry RankSector Rank
PE 14.03
Fwd PE 12.69
P/S 5.04
P/FCF 15.05
P/OCF 13.19
P/B 1.5
P/tB 2.28
EV/EBITDA N/A
EPS(TTM)8.27
EY7.13%
EPS(NY)9.14
Fwd EY7.88%
FCF(TTM)7.71
FCFY6.65%
OCF(TTM)8.8
OCFY7.58%
SpS23.05
BVpS77.16
TBVpS50.84
PEG (NY)1.44
PEG (5Y)1.41
Profitability
Industry RankSector Rank
ROA 1.41%
ROE 10.58%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 35.41%
GM N/A
FCFM 33.46%
ROA(3y)1.07%
ROA(5y)1.06%
ROE(3y)8.73%
ROE(5y)8.83%
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
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y9.56%
PM growth 5Y1.91%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 1.33
Debt/EBITDA N/A
Cap/Depr 97.45%
Cap/Sales 4.72%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 94.49%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC8.6%
ROIC/WACCN/A
Cap/Depr(3y)84.02%
Cap/Depr(5y)89.02%
Cap/Sales(3y)5.12%
Cap/Sales(5y)5.34%
Profit Quality(3y)117.33%
Profit Quality(5y)121.03%
High Growth Momentum
Growth
EPS 1Y (TTM)17.81%
EPS 3Y13.35%
EPS 5Y9.93%
EPS Q2Q%14.29%
EPS Next Y9.75%
EPS Next 2Y6.84%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)10.07%
Revenue growth 3Y15.84%
Revenue growth 5Y15.63%
Sales Q2Q%13.37%
Revenue Next Year15.82%
Revenue Next 2Y9.71%
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 1Y30.59%
FCF growth 3Y11.35%
FCF growth 5Y16.9%
OCF growth 1Y23.87%
OCF growth 3Y11.04%
OCF growth 5Y18.15%