Nicolet Bankshares, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $150.7M | $124.1M | $61.5M | $94.3M | $60.7M | $60.1M | $54.6M | $41.0M |
| Depreciation & Amortization | $15.0M | $17.0M | $18.4M | $21.9M | $13.9M | $10.7M | $7.3M | $6.3M |
| Depreciation | $8.1M | $8.2M | $8.2M | $7.6M | $5.0M | $4.4M | $3.8M | $4.4M |
| Amortization | $5.7M | $6.9M | $8.1M | $6.6M | $3.5M | $3.6M | $3.9M | $4.4M |
| Stock-Based Compensation | $7.3M | $6.6M | $6.4M | $7.0M | $7.3M | $5.7M | $5.0M | $4.9M |
| Net Cash from Operating Activities | $153.5M | $133.7M | $108.0M | $117.4M | $97.7M | $78.9M | $58.1M | $51.0M |
| Investing Activities | ||||||||
| Capital Expenditures | $4.1M | $16.9M | $18.6M | $12.2M | $12.8M | $10.8M | $4.4M | $4.3M |
| Business Acquisitions | — | $0 | $0 | $28.2M | $-367.8M | $21.8M | $-7.3M | — |
| Net Cash from Investing Activities | $-230.7M | $-288.4M | $591.5M | $-516.4M | $-370.6M | $-208.7M | $-63.2M | $-77.1M |
| Financing Activities | ||||||||
| Dividends Paid | $18.7M | $16.5M | $11.1M | $0 | $0 | — | — | — |
| Stock Repurchases | $76.6M | $10.1M | $1.5M | $61.5M | $62.6M | $42.1M | $28.5M | $22.7M |
| Net Cash from Financing Activities | $201.4M | $199.3M | $-362.7M | $-41.6M | $65.4M | $750.6M | $-62.5M | $120.7M |
| Net Change in Cash | $124.2M | $44.6M | $336.7M | $-440.6M | $-207.6M | $620.8M | $-67.5M | $94.6M |
| Free Cash Flow | $149.4M | $116.8M | $89.4M | $105.2M | $84.9M | $68.1M | $53.7M | $46.7M |