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Side-by-side financial comparison of Arbutus Biopharma Corp (ABUS) and NATIONAL BANKSHARES INC (NKSH). Click either name above to swap in a different company.

NATIONAL BANKSHARES INC is the larger business by last-quarter revenue ($15.3M vs $10.7M, roughly 1.4× Arbutus Biopharma Corp). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs 23.5%, a 15.0% gap on every dollar of revenue. On growth, Arbutus Biopharma Corp posted the faster year-over-year revenue change (522.2% vs 24.7%). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs -13.2%).

Arbutus Biopharma Corporation is a publicly traded Canadian biopharmaceutical company with an expertise in liposomal drug delivery and RNA interference, and is developing drugs for hepatitis B infection.

Nicolet Bankshares, Inc. is a U.S. regional bank holding company based in Green Bay, Wisconsin. They are the parent company of Nicolet National Bank, the second largest Wisconsin-based bank.

ABUS vs NKSH — Head-to-Head

Bigger by revenue
NKSH
NKSH
1.4× larger
NKSH
$15.3M
$10.7M
ABUS
Growing faster (revenue YoY)
ABUS
ABUS
+497.5% gap
ABUS
522.2%
24.7%
NKSH
Higher net margin
NKSH
NKSH
15.0% more per $
NKSH
38.5%
23.5%
ABUS
Faster 2-yr revenue CAGR
NKSH
NKSH
Annualised
NKSH
20.9%
-13.2%
ABUS

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
ABUS
ABUS
NKSH
NKSH
Revenue
$10.7M
$15.3M
Net Profit
$2.5M
$5.9M
Gross Margin
Operating Margin
13.9%
47.4%
Net Margin
23.5%
38.5%
Revenue YoY
522.2%
24.7%
Net Profit YoY
112.7%
91.0%
EPS (diluted)
$0.01
$0.93

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
ABUS
ABUS
NKSH
NKSH
Q4 25
$15.3M
Q3 25
$14.2M
Q2 25
$10.7M
$13.3M
Q1 25
$12.8M
Q4 24
$12.2M
Q3 24
$11.7M
Q2 24
$10.9M
Q1 24
$10.4M
Net Profit
ABUS
ABUS
NKSH
NKSH
Q4 25
$5.9M
Q3 25
$4.4M
Q2 25
$2.5M
$2.3M
Q1 25
$3.2M
Q4 24
$3.1M
Q3 24
$2.7M
Q2 24
$-307.0K
Q1 24
$2.2M
Operating Margin
ABUS
ABUS
NKSH
NKSH
Q4 25
47.4%
Q3 25
37.9%
Q2 25
13.9%
20.0%
Q1 25
30.5%
Q4 24
30.1%
Q3 24
27.5%
Q2 24
-4.4%
Q1 24
25.8%
Net Margin
ABUS
ABUS
NKSH
NKSH
Q4 25
38.5%
Q3 25
31.1%
Q2 25
23.5%
17.2%
Q1 25
25.3%
Q4 24
25.1%
Q3 24
22.8%
Q2 24
-2.8%
Q1 24
20.8%
EPS (diluted)
ABUS
ABUS
NKSH
NKSH
Q4 25
$0.93
Q3 25
$0.69
Q2 25
$0.01
$0.36
Q1 25
$0.51
Q4 24
$0.50
Q3 24
$0.42
Q2 24
$-0.05
Q1 24
$0.37

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
ABUS
ABUS
NKSH
NKSH
Cash + ST InvestmentsLiquidity on hand
$37.4M
$59.3M
Total DebtLower is stronger
$0
Stockholders' EquityBook value
$83.0M
$184.9M
Total Assets
$103.3M
$1.8B
Debt / EquityLower = less leverage
0.00×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ABUS
ABUS
NKSH
NKSH
Q4 25
$59.3M
Q3 25
$42.3M
Q2 25
$37.4M
$92.8M
Q1 25
$122.5M
Q4 24
$108.1M
Q3 24
$49.8M
Q2 24
$98.9M
Q1 24
$121.2M
Total Debt
ABUS
ABUS
NKSH
NKSH
Q4 25
Q3 25
Q2 25
$0
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
ABUS
ABUS
NKSH
NKSH
Q4 25
$184.9M
Q3 25
$179.2M
Q2 25
$83.0M
$168.7M
Q1 25
$167.3M
Q4 24
$156.4M
Q3 24
$167.8M
Q2 24
$149.0M
Q1 24
$139.4M
Total Assets
ABUS
ABUS
NKSH
NKSH
Q4 25
$1.8B
Q3 25
$1.8B
Q2 25
$103.3M
$1.8B
Q1 25
$1.8B
Q4 24
$1.8B
Q3 24
$1.8B
Q2 24
$1.8B
Q1 24
$1.7B
Debt / Equity
ABUS
ABUS
NKSH
NKSH
Q4 25
Q3 25
Q2 25
0.00×
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
ABUS
ABUS
NKSH
NKSH
Operating Cash FlowLast quarter
$-15.7M
$17.9M
Free Cash FlowOCF − Capex
$15.2M
FCF MarginFCF / Revenue
99.2%
Capex IntensityCapex / Revenue
0.0%
17.9%
Cash ConversionOCF / Net Profit
-6.24×
3.04×
TTM Free Cash FlowTrailing 4 quarters
$23.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ABUS
ABUS
NKSH
NKSH
Q4 25
$17.9M
Q3 25
$6.1M
Q2 25
$-15.7M
$2.1M
Q1 25
$2.6M
Q4 24
$9.4M
Q3 24
$3.1M
Q2 24
$-3.0M
Q1 24
$3.8M
Free Cash Flow
ABUS
ABUS
NKSH
NKSH
Q4 25
$15.2M
Q3 25
$5.3M
Q2 25
$1.5M
Q1 25
$1.6M
Q4 24
$6.2M
Q3 24
$2.2M
Q2 24
$-4.0M
Q1 24
$3.5M
FCF Margin
ABUS
ABUS
NKSH
NKSH
Q4 25
99.2%
Q3 25
37.4%
Q2 25
11.5%
Q1 25
12.5%
Q4 24
50.5%
Q3 24
18.5%
Q2 24
-36.3%
Q1 24
33.8%
Capex Intensity
ABUS
ABUS
NKSH
NKSH
Q4 25
17.9%
Q3 25
5.6%
Q2 25
0.0%
4.1%
Q1 25
7.5%
Q4 24
26.6%
Q3 24
8.3%
Q2 24
9.3%
Q1 24
3.0%
Cash Conversion
ABUS
ABUS
NKSH
NKSH
Q4 25
3.04×
Q3 25
1.38×
Q2 25
-6.24×
0.90×
Q1 25
0.79×
Q4 24
3.07×
Q3 24
1.17×
Q2 24
Q1 24
1.77×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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