Nicolet Bankshares (NIC) Financial Statements & Analysis

Nicolet Bankshares (NIC) Income Statement

Nicolet Bankshares reported revenue of $552.61M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 6.4% from $519.42M a year earlier. Net income was $150.69M, up 21.5% year over year, a net margin of 27.3%. Gross margin was 69.5% and operating margin 33.8%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $136.60M, up 44.3% from the same quarter a year earlier.

Nicolet Bankshares Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Nicolet Bankshares, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	552.61	519.42	272.50	298.12	210.42	213.10	192.41	164.96	143.34
Cost of Revenue	168.73	174.15	144.00	45.46	28.50	30.16	23.71	20.49	12.84
Gross Profit	383.88	345.27	272.86	286.62	210.55	182.93	168.70	144.47	130.51
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	151.94	120.75	63.90	99.11	38.45	63.22	70.07	64.31	57.87
Operating Expenses	196.92	190.14	186.23	160.88	129.43	101.99	97.25	89.67	80.81
Operating Income	186.96	155.13	86.63	125.74	81.12	80.95	71.10	54.80	49.70
Other Income/Expense
Interest Income	470.95	438.37	382.86	273.92	171.56	149.20	138.59	125.54	109.25
Interest Expense	164.48	170.30	141.35	33.96	13.60	19.86	22.51	18.89	10.51
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	186.96	155.13	86.63	125.74	81.12	80.95	71.45	54.80	49.70
Income Tax Expense	36.27	31.07	25.12	31.48	20.47	20.48	16.46	13.45	16.27
Net Income	150.69	124.06	61.52	94.26	60.65	60.12	54.64	41.04	33.15
Net Income - Continuous Operations	150.69	124.06	61.52	94.26	60.65	60.12	54.64	41.04	33.15
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	201.95	172.08	18.40	21.93	13.86	91.63	78.76	61.08	56.77
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	14.99	16.95	8.07	6.62	13.86	10.69	7.31	6.28	7.07
Earnings Per Share
Basic EPS	10.00	8.00	4.00	7.00	6.00	6.00	6.00	4.00	4.00
Diluted EPS	10.00	8.00	4.00	7.00	5.00	6.00	6.00	4.00	3.00
Basic Shares Outstanding	14.98	15.05	14.74	13.91	10.74	10.34	9.56	9.64	9.44
Diluted Shares Outstanding	15.40	15.42	15.07	14.38	11.14	10.54	9.90	9.96	9.96

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Nicolet Bankshares Financial Statements

What was Nicolet Bankshares's revenue in fiscal 2025?

Nicolet Bankshares reported revenue of $552.61M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 6.4% from $519.42M a year earlier.

Is Nicolet Bankshares profitable?

Yes. Nicolet Bankshares earned net income of $150.69M in fiscal 2025, a net margin of 27.3%. In fiscal 2024 it earned $124.06M.

What is Nicolet Bankshares's operating margin?

Nicolet Bankshares's operating income was $186.96M on revenue of $552.61M in fiscal 2025, an operating margin of 33.8%, compared with 29.9% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition