Nicolet Bankshares Inc. (NIC) - Net Assets
Based on the latest financial reports, Nicolet Bankshares Inc. (NIC) has net assets worth $2.26 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($15.57 Billion) and total liabilities ($13.32 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how tangible is Nicolet Bankshares Inc.'s equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.26 Billion |
| % of Total Assets | 14.49% |
| Annual Growth Rate | 21.75% |
| 5-Year Change | 41.01% |
| 10-Year Change | 355.07% |
| Growth Volatility | 37.85 |
Nicolet Bankshares Inc. - Net Assets Trend (2010–2025)
This chart illustrates how Nicolet Bankshares Inc.'s net assets have evolved over time, based on quarterly financial data. See Nicolet Bankshares Inc. (NIC) liquidity interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Nicolet Bankshares Inc. (2010–2025)
The table below shows the annual net assets of Nicolet Bankshares Inc. from 2010 to 2025. For live valuation and market cap data, see Nicolet Bankshares Inc. market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.26 Billion | +7.23% |
| 2024-12-31 | $1.17 Billion | +12.89% |
| 2023-12-31 | $1.04 Billion | +6.84% |
| 2022-12-31 | $972.53 Million | +9.04% |
| 2021-12-31 | $891.89 Million | +65.41% |
| 2020-12-31 | $539.19 Million | +4.29% |
| 2019-12-31 | $516.99 Million | +33.47% |
| 2018-12-31 | $387.35 Million | +6.16% |
| 2017-12-31 | $364.88 Million | +32.03% |
| 2016-12-31 | $276.37 Million | +151.96% |
| 2015-12-31 | $109.69 Million | -1.24% |
| 2014-12-31 | $111.07 Million | +5.90% |
| 2013-12-31 | $104.88 Million | +35.54% |
| 2012-12-31 | $77.38 Million | +1.53% |
| 2011-12-31 | $76.21 Million | +16.06% |
| 2010-12-31 | $65.67 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Nicolet Bankshares Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 5215.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $697.80 Million | 55.48% |
| Common Stock | $148.00K | 0.01% |
| Other Comprehensive Income | $-23.54 Million | -1.87% |
| Other Components | $583.26 Million | 46.38% |
| Total Equity | $1.26 Billion | 100.00% |
Nicolet Bankshares Inc. Competitors by Market Cap
The table below lists competitors of Nicolet Bankshares Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Xiangyang Changyuan Donggu Industry Co Ltd
SHG:603950
|
$3.12 Billion |
|
Zealand Pharma A/S
CO:ZEAL
|
$3.12 Billion |
|
Growthpoint Properties Ltd
JSE:GRT
|
$3.12 Billion |
|
Wuhan Yangtze Communication Industry Group Co Ltd
SHG:600345
|
$3.12 Billion |
|
Hayward Holdings Inc
NYSE:HAYW
|
$3.12 Billion |
|
Rev Group Inc
NYSE:REVG
|
$3.12 Billion |
|
Innodata Inc
NASDAQ:INOD
|
$3.12 Billion |
|
Kirloskar Oil Engines Limited
NSE:KIRLOSENG
|
$3.12 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Nicolet Bankshares Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,172,898,000 to 1,257,662,000, a change of 84,764,000 (7.2%).
- Net income of 150,686,000 contributed positively to equity growth.
- Dividend payments of 18,659,000 reduced retained earnings.
- Share repurchases of 89,290,000 reduced equity.
- New share issuances of 101,000 increased equity.
- Other comprehensive income increased equity by 25,026,000.
- Other factors increased equity by 16,900,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $150.69 Million | +11.98% |
| Dividends Paid | $18.66 Million | -1.48% |
| Share Repurchases | $89.29 Million | -7.1% |
| Share Issuances | $101.00K | +0.01% |
| Other Comprehensive Income | $25.03 Million | +1.99% |
| Other Changes | $16.90 Million | +1.34% |
| Total Change | $- | 7.23% |
Book Value vs Market Value Analysis
This analysis compares Nicolet Bankshares Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.80x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 7.79x to 1.80x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | $18.85 | $146.85 | x |
| 2011-12-31 | $21.80 | $146.85 | x |
| 2012-12-31 | $18.11 | $146.85 | x |
| 2013-12-31 | $26.29 | $146.85 | x |
| 2014-12-31 | $25.75 | $146.85 | x |
| 2015-12-31 | $25.10 | $146.85 | x |
| 2016-12-31 | $36.72 | $146.85 | x |
| 2017-12-31 | $36.57 | $146.85 | x |
| 2018-12-31 | $38.83 | $146.85 | x |
| 2019-12-31 | $52.15 | $146.85 | x |
| 2020-12-31 | $51.15 | $146.85 | x |
| 2021-12-31 | $80.03 | $146.85 | x |
| 2022-12-31 | $67.65 | $146.85 | x |
| 2023-12-31 | $68.94 | $146.85 | x |
| 2024-12-31 | $76.08 | $146.85 | x |
| 2025-12-31 | $81.65 | $146.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Nicolet Bankshares Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.98%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 27.27%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 7.30x
- Recent ROE (11.98%) is above the historical average (8.47%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 1.69% | 2.75% | 0.06x | 10.28x | $-5.45 Million |
| 2011 | 1.96% | 3.89% | 0.06x | 8.92x | $-6.11 Million |
| 2012 | 3.93% | 7.68% | 0.05x | 9.64x | $-4.70 Million |
| 2013 | 15.39% | 28.31% | 0.05x | 11.43x | $5.65 Million |
| 2014 | 8.96% | 15.76% | 0.05x | 10.95x | $-1.15 Million |
| 2015 | 10.44% | 17.24% | 0.05x | 11.09x | $477.90K |
| 2016 | 6.69% | 18.08% | 0.04x | 8.34x | $-9.13 Million |
| 2017 | 9.10% | 23.13% | 0.05x | 8.05x | $-3.27 Million |
| 2018 | 10.61% | 24.88% | 0.05x | 8.01x | $2.38 Million |
| 2019 | 10.58% | 28.40% | 0.05x | 6.93x | $3.01 Million |
| 2020 | 11.15% | 28.21% | 0.05x | 8.44x | $6.20 Million |
| 2021 | 6.80% | 25.37% | 0.03x | 8.63x | $-28.54 Million |
| 2022 | 9.69% | 28.39% | 0.04x | 9.01x | $-2.99 Million |
| 2023 | 5.92% | 14.76% | 0.05x | 8.15x | $-42.38 Million |
| 2024 | 10.58% | 23.88% | 0.06x | 7.50x | $6.77 Million |
| 2025 | 11.98% | 27.27% | 0.06x | 7.30x | $24.92 Million |
Industry Comparison
This section compares Nicolet Bankshares Inc.'s net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $545,762,800
- Average return on equity (ROE) among peers: 9.48%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Nicolet Bankshares Inc. (NIC) | $2.26 Billion | 1.69% | 5.90x | $3.12 Billion |
| Ameris Bancorp (ABCB) | $68.20 Million | 10.85% | 9.15x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $80.66 Million | 12.52% | 9.24x | $5.85 Billion |
| ACNB Corporation (ACNB) | $62.69 Million | 13.30% | 9.05x | $483.21 Million |
| Affinity Bancshares Inc (AFBI) | $80.78 Million | 3.82% | 9.53x | $137.20 Million |
| Alerus Financial Corp (ALRS) | $168.78 Million | 8.32% | 11.15x | $736.27 Million |
| Amalgamated Bank (AMAL) | $585.36 Million | 15.03% | 12.62x | $1.27 Billion |
| Amerant Bancorp Inc. (AMTB) | $1.00 Billion | 3.23% | 8.67x | $979.96 Million |
| Arrow Financial Corporation (AROW) | $371.19 Million | 13.43% | 9.85x | $622.98 Million |
| Associated Banc-Corp (ASB) | $2.94 Billion | 6.41% | 8.44x | $5.45 Billion |
| AmeriServ Financial Inc (ASRV) | $97.98 Million | 7.93% | 10.85x | $62.43 Million |
About Nicolet Bankshares Inc.
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. The company accepts demand deposits, checking, savings, and money market accounts; various certificates of deposit; and individual retirement accounts. It also offers commercial loans, including co… Read more