NIC

Nicolet Bankshares, Inc.

$116.74

-0.33

(-0.28%)

Exchange:	NYSE
Market Cap:	1.76B
Shares Outstanding:	3.452M

Overview

Earnings

Financials

Valuation

Chart

About The Company

Nicolet Bankshares, Inc. operates as the bank holding company for Nicolet National Bank that provides banking products and services for businesses and individuals. The company accepts checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts. It also offers commercial loans, including commercial, industrial, and business loans and lines of credit; commercial real estate loans; agricultural (AG) production and AG real estate loans; commercial real estate investment real estate loans; construction and land development loans; residential real estate loans, such as residential first lien and junior lien mortgages, home equity loans, lines of credit, and residential construction loans; and consumer loans. In addition, the company provides cash management, international banking, personal brokerage, safe deposit boxes, and trust and fiduciary services, as well as wealth management and retirement plan services. Further, it offers mortgage refinancing; online services, such as commercial, retail, and trust online banking; automated bill payment, mobile banking deposits and account access, and remote deposit capture services; and other services consisting of wire transfers, debit cards, credit cards, pre-paid gift cards, direct deposits, and official bank checks, as well as facilitates crop insurance products. As of December 31, 2021, it operated 52 branches throughout Wisconsin and Michigan. The company was formerly known as Green Bay Financial Corporation and changed its name to Nicolet Bankshares, Inc. in March 2002. Nicolet Bankshares, Inc. was incorporated in 2000 and is headquartered in Green Bay, Wisconsin.

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Revenue Segmentation

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EPS

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Earnings Call

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Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Income Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Revenue	59,092	94,807	133,381	146,157	169,895	191,964	225,319	297,881	272,498	438,365
? Cost Of Revenue	0	0	0	0	0	0	0	0	-139,974	0
? Gross Profit	59,092	94,807	133,381	146,157	169,895	191,964	225,319	297,881	412,472	438,365
? Research And Development Expenses	0	0	0	0	0	0	0	0	0	0
? General And Administrative Expenses	28,947	44,799	58,660	64,314	70,072	73,211	90,046	90,633	103,108	112,417
? Selling And Marketing Expenses	2,244	3,488	4,700	5,324	5,685	5,396	5,403	8,472	7,790	8,330
? Operating Expenses	-41,448	-66,742	-73,453	-72,786	-98,796	-111,366	-144,197	8,472	163,613	8,330
? Net Interest Income	0	0	0	0	0	0	0	0	0	268,065
? Interest Income	48,597	75,467	109,253	125,537	138,588	149,202	171,559	273,918	382,862	438,365
? Interest Expense	7,213	7,334	10,511	18,889	22,510	19,864	13,604	33,957	141,346	170,300
? Depreciation And Amortization	3,322	6,658	8,895	8,789	7,672	7,967	8,494	14,216	18,403	0
? EBITDA	0	0	56,767	61,081	78,757	91,630	94,979	147,667	105,035	0
? EBIT										325,429
? Operating Income	17,644	28,065	59,928	73,371	71,099	80,598	81,122	175,008	108,885	430,035
? Income Before Tax	17,644	28,065	49,700	54,799	71,446	80,945	81,122	125,737	86,632	155,129
? Income Tax Expense	6,089	9,371	16,267	13,446	16,458	20,476	20,470	31,477	25,116	31,070
? Net Income From Continuing Operations										124,059
? Net Income	11,428	18,462	33,150	41,036	54,641	60,122	60,652	94,260	61,516	124,059
? EPS (Earnings Per Share)	2.800	2.490	3.510	4.260	5.710	5.820	5.650	6.780	4.170	8.240
? EPS Diluted	2.570	2.370	3.330	4.120	5.520	5.700	5.440	6.560	4.080	8.050
? Weighted Average Shares Outstanding	4,003.988	7,158.367	9,439.951	9,640.258	9,561.978	10,337.138	10,735.605	13,909.299	14,742.675	15,049.225
? Weighted Average Shares Outstanding Diluted	4,362.213	7,513.971	9,958.160	9,956.353	9,900.319	10,541.251	11,144.866	14,374.931	15,070.579	15,415.822
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Balance Sheet

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Cash And Cash Equivalents	86,118	132,360	155,945	250,519	201,364	802,859	617,212	167,241	491,431	115,943
? Short Term Investments	172,596	365,287	405,153	400,144	449,302	539,337	921,661	917,618	802,573	806,415
? Cash And Short Term Investments	258,714	497,647	561,098	650,663	650,666	1,342,196	1,538,873	1,084,859	1,294,004	922,358
? Net Receivables	17,151	0	0	34,418	0	0	0	0	133,734	0
? Accounts Receivables										0
? Inventory	0	-135,146	-157,973	0	-201,364	-841,680	-832,645	-180,891	0	0
? Total Current Assets	275,865	530,719	596,914	2,505,914	690,127	1,397,712	1,652,248	1,222,872	1,427,738	922,358
? Property Plant Equipment Net	29,613	45,862	47,151	48,173	56,469	59,944	94,566	108,956	118,756	126,979
? Goodwill	762	66,743	107,366	107,366	151,198	163,151	317,189	367,387	367,387	367,387
? Intangible Assets	3,224	21,195	21,040	16,941	14,769	12,202	22,303	35,051	26,979	20,753
? Long Term Investments	180,731	382,786	419,990	418,141	473,374	566,956	1,617,472	1,669,657	860,133	0
? Total Non Current Assets	210,344	516,586	595,547	590,621	695,810	802,253	2,051,530	2,173,426	8,381,381.999	515,119
? Total Assets	1,214,439	2,300,879	2,932,433	3,096,535	3,577,260	4,551,789	7,695,037	8,763,969	8,468,678	8,796,795
? Account Payables	8,547	16,911	18,444	17,740	38,188	48,332	68,729	70,177	0	0
? Short Term Debt	0	0	0	0	0	0	0	317,000	0	0
? Deferred Revenue	0	0	17,425.001	0	28,127	44,332	58,729	0	0	0
? Total Current Liabilities	8,547	16,911	18,444	17,740	38,188	48,332	68,729	387,177	0	0
? Long Term Debt	25,376	37,617	78,046	77,305	67,629	53,869	216,915	225,342	166,930	161,387
? Deferred Revenue Non Current	0	0	0	0	0	0	0	0	0	0
? Deferred Tax Liabilities Non Current	0	0	0	0	0	0	0	0	0	0
? Total Non Current Liabilities	39,788	37,617	78,046	77,305	67,629	53,869	216,915	387,177	2,516,390	161,387
? Total Liabilities	1,104,752	2,024,514	2,567,554	2,709,183	3,060,270	4,012,600	6,803,146	7,791,440	7,429,671	7,623,897
? Treasury Stock										0
? Preferred Stock	12,200	0	0	0	0	0	0	0	0	0
? Common Stock	42	86	98	95	106	100	140	147	149	154
? Retained Earnings	51,059	68,888	102,391	144,364	199,005	252,952	313,604	407,864	458,261	565,772
? Additional Paid In Capital										0
? Total Stockholders Equity	109,501	275,947	364,178	386,609	516,262	539,189	891,891	972,529	1,039,007	1,172,898
? Total Equity	109,687	276,365	364,879	387,352	516,990	1,078,378	891,891	972,529	1,039,007	1,172,898
? Minority Interest	186	418	701	743	728	539,189	0	0	0	0
? Total Liabilities And Total Equity	1,214,439	2,300,879	2,932,433	3,096,535	3,577,260	4,551,789	7,695,037	8,763,969	8,468,678	8,796,795
? Total Investments	353,327	748,073	825,143	818,285	922,676	1,106,293	2,539,133	2,579,650	1,662,706	806,415
? Total Debt	39,788	37,617	78,046	77,305	67,629	53,869	216,915	542,342	166,930	161,387
? Net Debt	-46,330	-94,743	-77,899	-173,214	-133,735	-748,990	-400,297	375,101	-324,501	-115,943
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Cash Flow Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Net Income	11,555	18,694	33,433	41,353	54,988	60,469	60,652	94,260	61,516	124,059
? Depreciation And Amortization	3,322	5,132	7,067	6,282	7,311	10,685	13,857	21,930	8,071.999	16,952
? Deferred Income Tax	1,589	2,966	6,962	-1,521	-2,652	3,127	6,332	-12,907	3,027	7,382
? Stock Based Compensation	1,202	1,608	3,064	4,901	5,038	5,700	7,307	7,016	6,438	6,635
? Change In Working Capital	-4,165	-1,741	-6,737	-424	6,059	12,707	-9,507	-210	-10,579	0
? Accounts Receivables	-1,995	301	-5,360	-666	-2,951	6,991	-10,531	73	-5,343	0
? Inventory	996	1,284	1,778	1,857	1,967	2,199	2,380	283	5,236	0
? Accounts Payables	-2,170	-2,042	-1,377	242	9,010	5,716	1,024	-283	-5,236	-6,215
? Net Cash Provided By Operating Activities	15,051	24,806	40,713	50,989	58,137	78,899	97,654	117,396	107,974	133,749
? Investments In Property Plant And Equipment	-1,181	-4,051	-3,737	-4,260	-4,392	-10,791	-12,791	-12,234	-18,202	0
? Acquisitions Net	-19,865	66,517	9,119	9,119	7,331	-21,820	367,797	119,612	0	0
? Purchases Of Investments	-41,489	-85,895	-66,437	-78,114	-98,296	-174,878	-883,088	-90,101	-73,199	-111,652
? Sales Maturities Of Investments	36,104	67,083	65,045	72,793	94,482	113,863	220,200	173,945	833,063	7,721
? Net Cash Provided By Investing Activities	0	0	0	0	0	0	0	0	0	-288,437
? Net Debt Issuance	0	0	0	0	0	0	0	0	0	-5,172
? Long Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	-5,172
? Short Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Net Stock Issuance	0	0	0	0	0	0	0	0	0	-9,552
? Net Dividends Paid	-212	-633	-633	0	0	0	0	0	-11,119	-16,548
? Common Dividends Paid										-16,548
? Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
? Net Cash Provided By Financing Activities	21,493	-30,764	136,070	120,676	-62,454	750,597	65,377	-41,601	-362,728	199,304
? Effect Of Forex Changes On Cash	0	0	0	0	0	0	0	0	0	0
? Net Change In Cash	14,911	45,484	25,830	94,593	-67,467	620,800	-207,567	-440,569	336,708	44,616
? Cash At End Of Period	83,619	129,103	154,933	249,526	182,059	802,859	595,292	154,723	491,431	536,047
? Cash At Beginning Of Period	68,708	83,619	129,103	154,933	249,526	182,059	802,859	595,292	154,723	491,431
? Operating Cash Flow	15,051	24,806	40,713	50,989	58,137	78,899	97,654	117,396	107,974	133,749
? Capital Expenditure	-1,181	-4,051	-3,737	-4,260	-4,392	-10,791	-12,791	-12,234	-18,202	0
? Free Cash Flow	13,870	20,755	36,976	46,729	53,745	68,108	84,863	105,162	89,772	133,749
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Analyst Estimates

(* All numbers are in thousands)

Fiscal Year	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Estimated Revenue (Low)	128,687.871	135,490.921	148,919.915	178,935.018	203,084.926	293,460.387	287,946.436	344,161.907	366,996.933	380,811.426
Estimated Revenue (High)	147,007.717	154,779.242	170,119.971	204,407.987	231,995.846	298,816.755	290,813.504	347,588.709	370,651.102	384,603.145
Estimated Revenue (Avg)	137,752.500	145,034.750	159,409.667	191,539	217,390	296,699	289,525.500	346,049.250	369,009.500	382,899.750
Estimated Ebitda (Low)	49,024.684	51,616.361	56,732.245	68,166.741	77,366.844	131,681.562	102,511.091	122,524.220	130,653.661	135,571.724
Estimated Ebitda (High)	56,003.778	58,964.403	64,808.577	77,870.874	88,380.692	134,085.071	103,531.788	123,744.187	131,954.572	136,921.604
Estimated Ebitda (Avg)	52,477.928	55,252.160	60,728.401	72,968.330	82,816.477	133,134.792	103,073.249	123,196.128	131,370.150	136,315.183
Estimated Net Income (Low)	44,238.180	54,133.221	71,904.299	78,884.539	85,099.948	103,670.218	81,367.796	117,868.457	129,233.927	131,030.024
Estimated Net Income (High)	52,601.900	64,367.803	85,498.565	93,798.536	101,189.148	106,138.327	89,932.828	118,178.624	131,627.233	132,580.548
Estimated Net Income (Avg)	48,376.561	59,197.238	78,630.751	86,263.999	93,060.831	105,162.507	85,650.312	118,023.541	130,430.580	132,375.250
Estimated SGA Expense (Low)	46,199.498	48,641.822	53,462.889	64,238.440	72,908.361	124,813.320	99,810.189	119,296.024	127,211.275	131,999.760
Estimated SGA Expense (High)	52,776.402	55,566.412	61,073.800	73,383.345	83,287.505	127,091.468	100,803.994	120,483.849	128,477.911	133,314.075
Estimated SGA Expense (Avg)	49,453.739	52,068.098	57,228.755	68,763.323	78,043.944	126,190.753	100,357.536	119,950.230	127,908.887	132,723.631
Estimated EPS (Avg)	3.210	3.930	5.220	5.720	6.180	6.980	5.560	7.660	8.470	8.550
Estimated EPS (High)	3.490	4.270	5.670	6.220	6.710	7.040	5.830	7.670	8.540	8.600
Estimated EPS (Low)	2.940	3.590	4.770	5.230	5.650	6.880	5.280	7.650	8.380	8.500
Number of Analysts (Estimated Revenue)	2	1	1	2	1	1	3	3	3	2
Number of Analysts (Estimated EPS)	1	1	1	1	1	1	3	3	3	3

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Current Key Metrics

?	Revenue (TTM) :	520.632M	?	P/S (TTM) :	3.34
?	Net Income (TTM) :	124.059M	?	P/E (TTM) :	13.82
?	Enterprise Value (TTM) :	1.345B	?	EV/FCF (TTM) :	9.71
?	Dividend Yield (TTM) :	0.01	?	Payout Ratio (TTM) :	0.13
?	ROE (TTM) :	0.11	?	ROIC (TTM) :
?	Net Debt (TTM) :		?	Debt/Equity (TTM) :
?	P/B (TTM) :		?	Current Ratio (TTM) :