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Side-by-side financial comparison of Aterian, Inc. (ATER) 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 $15.1M, roughly 1.0× Aterian, Inc.). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs -52.5%, a 91.0% gap on every dollar of revenue. On growth, NATIONAL BANKSHARES INC posted the faster year-over-year revenue change (24.7% vs -38.5%). NATIONAL BANKSHARES INC produced more free cash flow last quarter ($15.2M vs $-1.0M). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs -13.5%).
Aterian, Inc. is a technology-enabled consumer products company that leverages artificial intelligence and data analytics to identify market demand, develop, source and distribute a wide portfolio of affordable goods spanning home improvement, wellness, personal care, pet supplies and outdoor recreation. It primarily sells its products through leading global e-commerce platforms, with core markets covering North America and Europe.
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.
ATER vs NKSH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.1M | $15.3M |
| Net Profit | $-7.9M | $5.9M |
| Gross Margin | 56.1% | — |
| Operating Margin | -51.1% | 47.4% |
| Net Margin | -52.5% | 38.5% |
| Revenue YoY | -38.5% | 24.7% |
| Net Profit YoY | -512.2% | 91.0% |
| EPS (diluted) | — | $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 | $15.1M | $15.3M | ||
| Q3 25 | $19.0M | $14.2M | ||
| Q2 25 | $19.5M | $13.3M | ||
| Q1 25 | $15.4M | $12.8M | ||
| Q4 24 | $24.6M | $12.2M | ||
| Q3 24 | $26.2M | $11.7M | ||
| Q2 24 | $28.0M | $10.9M | ||
| Q1 24 | $20.2M | $10.4M |
| Q4 25 | $-7.9M | $5.9M | ||
| Q3 25 | $-2.3M | $4.4M | ||
| Q2 25 | $-4.9M | $2.3M | ||
| Q1 25 | $-3.9M | $3.2M | ||
| Q4 24 | $-1.3M | $3.1M | ||
| Q3 24 | $-1.8M | $2.7M | ||
| Q2 24 | $-3.6M | $-307.0K | ||
| Q1 24 | $-5.2M | $2.2M |
| Q4 25 | 56.1% | — | ||
| Q3 25 | 56.1% | — | ||
| Q2 25 | 54.3% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 63.4% | — | ||
| Q3 24 | 60.3% | — | ||
| Q2 24 | 60.4% | — | ||
| Q1 24 | 65.1% | — |
| Q4 25 | -51.1% | 47.4% | ||
| Q3 25 | -10.7% | 37.9% | ||
| Q2 25 | -23.1% | 20.0% | ||
| Q1 25 | -24.1% | 30.5% | ||
| Q4 24 | -6.5% | 30.1% | ||
| Q3 24 | -6.6% | 27.5% | ||
| Q2 24 | -11.5% | -4.4% | ||
| Q1 24 | -26.1% | 25.8% |
| Q4 25 | -52.5% | 38.5% | ||
| Q3 25 | -12.0% | 31.1% | ||
| Q2 25 | -25.0% | 17.2% | ||
| Q1 25 | -25.4% | 25.3% | ||
| Q4 24 | -5.3% | 25.1% | ||
| Q3 24 | -6.8% | 22.8% | ||
| Q2 24 | -13.0% | -2.8% | ||
| Q1 24 | -25.5% | 20.8% |
| Q4 25 | — | $0.93 | ||
| Q3 25 | — | $0.69 | ||
| Q2 25 | — | $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 | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $59.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.2M | $184.9M |
| Total Assets | $29.6M | $1.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $59.3M | ||
| Q3 25 | $7.6M | $42.3M | ||
| Q2 25 | $10.5M | $92.8M | ||
| Q1 25 | $14.3M | $122.5M | ||
| Q4 24 | $18.0M | $108.1M | ||
| Q3 24 | $16.1M | $49.8M | ||
| Q2 24 | $20.3M | $98.9M | ||
| Q1 24 | $17.5M | $121.2M |
| Q4 25 | $15.2M | $184.9M | ||
| Q3 25 | $22.6M | $179.2M | ||
| Q2 25 | $24.3M | $168.7M | ||
| Q1 25 | $27.0M | $167.3M | ||
| Q4 24 | $30.0M | $156.4M | ||
| Q3 24 | $30.6M | $167.8M | ||
| Q2 24 | $30.9M | $149.0M | ||
| Q1 24 | $33.0M | $139.4M |
| Q4 25 | $29.6M | $1.8B | ||
| Q3 25 | $40.1M | $1.8B | ||
| Q2 25 | $45.4M | $1.8B | ||
| Q1 25 | $49.8M | $1.8B | ||
| Q4 24 | $49.5M | $1.8B | ||
| Q3 24 | $52.1M | $1.8B | ||
| Q2 24 | $59.9M | $1.8B | ||
| Q1 24 | $55.7M | $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 | $-1.0M | $17.9M |
| Free Cash FlowOCF − Capex | $-1.0M | $15.2M |
| FCF MarginFCF / Revenue | -6.9% | 99.2% |
| Capex IntensityCapex / Revenue | 0.0% | 17.9% |
| Cash ConversionOCF / Net Profit | — | 3.04× |
| TTM Free Cash FlowTrailing 4 quarters | — | $23.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $17.9M | ||
| Q3 25 | $-1.6M | $6.1M | ||
| Q2 25 | $-4.4M | $2.1M | ||
| Q1 25 | $-3.9M | $2.6M | ||
| Q4 24 | $-9.0K | $9.4M | ||
| Q3 24 | $-722.0K | $3.1M | ||
| Q2 24 | $2.9M | $-3.0M | ||
| Q1 24 | $-6.0K | $3.8M |
| Q4 25 | $-1.0M | $15.2M | ||
| Q3 25 | $-1.6M | $5.3M | ||
| Q2 25 | $-4.4M | $1.5M | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | — | $6.2M | ||
| Q3 24 | — | $2.2M | ||
| Q2 24 | $2.9M | $-4.0M | ||
| Q1 24 | $-42.0K | $3.5M |
| Q4 25 | -6.9% | 99.2% | ||
| Q3 25 | -8.4% | 37.4% | ||
| Q2 25 | -22.7% | 11.5% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 50.5% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | 10.3% | -36.3% | ||
| Q1 24 | -0.2% | 33.8% |
| Q4 25 | 0.0% | 17.9% | ||
| Q3 25 | 0.2% | 5.6% | ||
| Q2 25 | 0.0% | 4.1% | ||
| Q1 25 | 0.0% | 7.5% | ||
| Q4 24 | 0.0% | 26.6% | ||
| Q3 24 | 0.0% | 8.3% | ||
| Q2 24 | 0.0% | 9.3% | ||
| Q1 24 | 0.2% | 3.0% |
| Q4 25 | — | 3.04× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | — | 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.
Revenue Breakdown by Segment
ATER
| Sales Channel Directly To Consumer | $13.1M | 87% |
| Heating Cooling And Air Quality | $2.1M | 14% |
NKSH
Segment breakdown not available.
