vs
Side-by-side financial comparison of ALPHA PRO TECH LTD (APT) 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 $13.9M, roughly 1.1× ALPHA PRO TECH LTD). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs 5.0%, a 33.5% gap on every dollar of revenue. On growth, NATIONAL BANKSHARES INC posted the faster year-over-year revenue change (24.7% vs 0.3%). NATIONAL BANKSHARES INC produced more free cash flow last quarter ($15.2M vs $51.0K). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs 1.4%).
Alpha Pro Tech Ltd is a leading developer, manufacturer and marketer of disposable protective apparel, face masks, and building supply products including weather-resistant barriers. It primarily serves the healthcare, industrial, and construction sectors, with core operating markets concentrated in North America.
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.
APT vs NKSH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.9M | $15.3M |
| Net Profit | $698.0K | $5.9M |
| Gross Margin | 37.1% | — |
| Operating Margin | 6.9% | 47.4% |
| Net Margin | 5.0% | 38.5% |
| Revenue YoY | 0.3% | 24.7% |
| Net Profit YoY | -17.6% | 91.0% |
| EPS (diluted) | $0.06 | $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.
| Q4 25 | $13.9M | $15.3M | ||
| Q3 25 | $14.8M | $14.2M | ||
| Q2 25 | $16.7M | $13.3M | ||
| Q1 25 | $13.8M | $12.8M | ||
| Q4 24 | $13.8M | $12.2M | ||
| Q3 24 | $14.3M | $11.7M | ||
| Q2 24 | $16.3M | $10.9M | ||
| Q1 24 | $13.5M | $10.4M |
| Q4 25 | $698.0K | $5.9M | ||
| Q3 25 | $976.0K | $4.4M | ||
| Q2 25 | $1.2M | $2.3M | ||
| Q1 25 | $613.0K | $3.2M | ||
| Q4 24 | $847.0K | $3.1M | ||
| Q3 24 | $862.0K | $2.7M | ||
| Q2 24 | $1.6M | $-307.0K | ||
| Q1 24 | $576.0K | $2.2M |
| Q4 25 | 37.1% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 36.8% | — | ||
| Q1 25 | 39.0% | — | ||
| Q4 24 | 37.6% | — | ||
| Q3 24 | 38.5% | — | ||
| Q2 24 | 42.0% | — | ||
| Q1 24 | 40.2% | — |
| Q4 25 | 6.9% | 47.4% | ||
| Q3 25 | 7.4% | 37.9% | ||
| Q2 25 | 8.0% | 20.0% | ||
| Q1 25 | 3.3% | 30.5% | ||
| Q4 24 | 4.9% | 30.1% | ||
| Q3 24 | 5.2% | 27.5% | ||
| Q2 24 | 10.5% | -4.4% | ||
| Q1 24 | 2.4% | 25.8% |
| Q4 25 | 5.0% | 38.5% | ||
| Q3 25 | 6.6% | 31.1% | ||
| Q2 25 | 7.5% | 17.2% | ||
| Q1 25 | 4.4% | 25.3% | ||
| Q4 24 | 6.1% | 25.1% | ||
| Q3 24 | 6.0% | 22.8% | ||
| Q2 24 | 10.1% | -2.8% | ||
| Q1 24 | 4.3% | 20.8% |
| Q4 25 | $0.06 | $0.93 | ||
| Q3 25 | $0.09 | $0.69 | ||
| Q2 25 | $0.12 | $0.36 | ||
| Q1 25 | $0.06 | $0.51 | ||
| Q4 24 | $0.07 | $0.50 | ||
| Q3 24 | $0.08 | $0.42 | ||
| Q2 24 | $0.15 | $-0.05 | ||
| Q1 24 | $0.05 | $0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $17.0M | $59.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $184.9M |
| Total Assets | $74.1M | $1.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.0M | $59.3M | ||
| Q3 25 | $17.7M | $42.3M | ||
| Q2 25 | $14.5M | $92.8M | ||
| Q1 25 | $13.4M | $122.5M | ||
| Q4 24 | $18.6M | $108.1M | ||
| Q3 24 | $18.4M | $49.8M | ||
| Q2 24 | $16.2M | $98.9M | ||
| Q1 24 | $18.5M | $121.2M |
| Q4 25 | $62.5M | $184.9M | ||
| Q3 25 | $62.5M | $179.2M | ||
| Q2 25 | $62.2M | $168.7M | ||
| Q1 25 | $61.7M | $167.3M | ||
| Q4 24 | $62.2M | $156.4M | ||
| Q3 24 | $62.1M | $167.8M | ||
| Q2 24 | $62.0M | $149.0M | ||
| Q1 24 | $61.6M | $139.4M |
| Q4 25 | $74.1M | $1.8B | ||
| Q3 25 | $73.9M | $1.8B | ||
| Q2 25 | $73.2M | $1.8B | ||
| Q1 25 | $72.2M | $1.8B | ||
| Q4 24 | $73.7M | $1.8B | ||
| Q3 24 | $73.3M | $1.8B | ||
| Q2 24 | $72.7M | $1.8B | ||
| Q1 24 | $72.7M | $1.7B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $318.0K | $17.9M |
| Free Cash FlowOCF − Capex | $51.0K | $15.2M |
| FCF MarginFCF / Revenue | 0.4% | 99.2% |
| Capex IntensityCapex / Revenue | 1.9% | 17.9% |
| Cash ConversionOCF / Net Profit | 0.46× | 3.04× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $23.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.0K | $17.9M | ||
| Q3 25 | $3.9M | $6.1M | ||
| Q2 25 | $2.1M | $2.1M | ||
| Q1 25 | $-4.0M | $2.6M | ||
| Q4 24 | $2.4M | $9.4M | ||
| Q3 24 | $5.3M | $3.1M | ||
| Q2 24 | $-873.0K | $-3.0M | ||
| Q1 24 | $-1.2M | $3.8M |
| Q4 25 | $51.0K | $15.2M | ||
| Q3 25 | $3.8M | $5.3M | ||
| Q2 25 | $1.9M | $1.5M | ||
| Q1 25 | $-4.1M | $1.6M | ||
| Q4 24 | $970.0K | $6.2M | ||
| Q3 24 | $3.2M | $2.2M | ||
| Q2 24 | $-1.0M | $-4.0M | ||
| Q1 24 | $-1.3M | $3.5M |
| Q4 25 | 0.4% | 99.2% | ||
| Q3 25 | 25.9% | 37.4% | ||
| Q2 25 | 11.7% | 11.5% | ||
| Q1 25 | -29.6% | 12.5% | ||
| Q4 24 | 7.0% | 50.5% | ||
| Q3 24 | 22.3% | 18.5% | ||
| Q2 24 | -6.2% | -36.3% | ||
| Q1 24 | -9.3% | 33.8% |
| Q4 25 | 1.9% | 17.9% | ||
| Q3 25 | 0.7% | 5.6% | ||
| Q2 25 | 0.8% | 4.1% | ||
| Q1 25 | 1.0% | 7.5% | ||
| Q4 24 | 10.4% | 26.6% | ||
| Q3 24 | 15.1% | 8.3% | ||
| Q2 24 | 0.8% | 9.3% | ||
| Q1 24 | 0.6% | 3.0% |
| Q4 25 | 0.46× | 3.04× | ||
| Q3 25 | 4.02× | 1.38× | ||
| Q2 25 | 1.68× | 0.90× | ||
| Q1 25 | -6.46× | 0.79× | ||
| Q4 24 | 2.85× | 3.07× | ||
| Q3 24 | 6.18× | 1.17× | ||
| Q2 24 | -0.53× | — | ||
| Q1 24 | -2.03× | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APT
| Other | $7.3M | 53% |
| Disposable Protective Apparel | $6.6M | 47% |
NKSH
Segment breakdown not available.
