Nicolet Bankshares, Inc. (NIC) Revenue History
Annual and quarterly revenue from 2012 to present
NIC Revenue Over Time (2012–2025)
NIC Revenue Growth History
13 of 13 years with positive growth- FY2012 revenue growth
- N/A
- FY2013 revenue growth
- +44.2%
- FY2014 revenue growth
- +10.7%
- FY2015 revenue growth
- +5.0%
- FY2016 revenue growth
- +54.0%
- FY2017 revenue growth
- +40.3%
- FY2018 revenue growth
- +15.1%
- FY2019 revenue growth
- +16.6%
- FY2020 revenue growth
- +10.8%
- FY2021 revenue growth
- +12.2%
- FY2022 revenue growth
- +38.9%
- FY2023 revenue growth
- +25.5%
- FY2024 revenue growth
- +24.6%
- FY2025 revenue growth
- +6.4%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $102.1M | — |
| Q4 2025 | $139.4M | — |
| Q3 2025 | $144.0M | — |
| Q2 2025 | $138.3M | — |
| Q1 2025 | $131.0M | — |
| Q4 2024 | $132.5M | — |
| Q3 2024 | $135.0M | — |
| Q2 2024 | $128.5M | — |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
NIC's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
NIC Revenue Analysis (2012–2025)
Current Revenue & Growth
As of June 26, 2026, Nicolet Bankshares, Inc. (NIC) generated trailing twelve-month (TTM) revenue of $523.8 million, reflecting significant decline in growth of -22.0% year-over-year. The most recent quarter (Q1 2026) recorded $102.1 million in revenue, down 26.7% sequentially.
Historical Growth Trajectory
NIC's 5-year compound annual growth rate (CAGR) stands at +21.0%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +18.5% is below the 5-year average, signalling a growth deceleration in recent years. Nicolet Bankshares, Inc.'s highest annual revenue of $552.6 million was recorded in 2025, an all-time high.
Revenue by Segment
NIC's revenue is primarily driven by Investment Advisory, Management and Administrative Service (57%), Credit and Debit Card (28%), and Deposit Account (15%). With over half of revenue concentrated in Investment Advisory, Management and Administrative Service, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Financial Services sector peers — including IBCP, FFIN, and BANF — NIC has underperformed the peer group in revenue growth. Compare NIC vs IBCP →
NIC Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NICCurrent | $524M | -22.0% | +21.0% | 33.8% | |
 IBCP | $315M | - | - | 25.8% | |
 FFIN | $826M | - | - | 37.5% | |
 BANF | $824M | - | - | 36.8% | |
 OTTR | $1.3B | -0.5% | +7.9% | 26.5% | |
 NBTB | $867M | - | - | 25.3% |
NIC Historical Revenue Data (2012–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $552.6M | - | $383.9M | 69.5% | $187.0M | 33.8% |
| 2024 | $519.4M | - | $345.3M | 66.5% | $155.1M | 29.9% |
| 2023 | $416.9M | - | $272.9M | 65.5% | $86.6M | 20.8% |
| 2022 | $332.1M | - | $286.6M | 86.3% | $125.7M | 37.9% |
| 2021 | $239.1M | - | $210.5M | 88.1% | $81.1M | 33.9% |
| 2020 | $213.1M | - | $182.9M | 85.8% | $80.9M | 38.0% |
| 2019 | $192.4M | - | $168.7M | 87.7% | $71.1M | 37.0% |
| 2018 | $165.0M | - | $144.5M | 87.6% | $54.8M | 33.2% |
| 2017 | $143.3M | - | $130.5M | 91.0% | $49.7M | 34.7% |
| 2016 | $102.1M | - | $93.0M | 91.1% | $28.1M | 27.5% |
| 2015 | $66.3M | - | $57.3M | 86.4% | $17.6M | 26.6% |
| 2014 | $63.1M | - | $53.4M | 84.5% | $14.7M | 23.2% |
| 2013 | $57.0M | - | $44.5M | 78.1% | $20.0M | 35.1% |
| 2012 | $39.5M | - | $28.7M | 72.5% | $4.6M | 11.7% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
14+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
NIC — Frequently Asked Questions
Quick answers to the most common questions about buying NIC stock.
Is NIC's revenue growth accelerating or slowing?
NIC revenue is declining -22.0% year-over-year. TTM revenue fell to $524M, contrasting with the 5-year CAGR of +21.0%. The reversal reflects either macro headwinds or company-specific challenges.
What is NIC's revenue history from 2012 to 2026?
Nicolet Bankshares, Inc. (NIC) revenue history spans 2012 to 2026. TTM revenue as of 2026 is $524M, growing at -22.0% YoY. The 5-year CAGR is +21.0%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is NIC's long-term revenue growth rate (CAGR)?
Nicolet Bankshares, Inc.'s 5-year revenue CAGR of +21.0% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -22.0% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for NIC.
Why does NIC's quarterly revenue fluctuate?
NIC quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Nicolet Bankshares, Inc.'s revenue data from 2012 to 2026 shows full historical quarterly detail on this page.
How is NIC's revenue distributed by segment?
NIC reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does NIC's revenue compare to industry peers?
Nicolet Bankshares, Inc. (NIC) with TTM revenue of $524M and -22.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.