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Side-by-side financial comparison of BLACKLINE, INC. (BL) and NICOLET BANKSHARES INC (NIC). Click either name above to swap in a different company.
BLACKLINE, INC. is the larger business by last-quarter revenue ($183.2M vs $104.0M, roughly 1.8× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs 2.7%, a 36.1% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs 8.1%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $26.1M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs 7.9%).
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
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.
BL vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $104.0M |
| Net Profit | $4.9M | $40.3M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 48.3% |
| Net Margin | 2.7% | 38.8% |
| Revenue YoY | 8.1% | 12.5% |
| Net Profit YoY | -91.3% | 16.9% |
| EPS (diluted) | $0.07 | $2.63 |
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 | $183.2M | $104.0M | ||
| Q3 25 | $178.3M | $102.9M | ||
| Q2 25 | $172.0M | $95.7M | ||
| Q1 25 | $166.9M | $89.4M | ||
| Q4 24 | $169.5M | $92.4M | ||
| Q3 24 | $165.9M | $90.7M | ||
| Q2 24 | $160.5M | $85.0M | ||
| Q1 24 | $157.5M | $82.2M |
| Q4 25 | $4.9M | $40.3M | ||
| Q3 25 | $5.3M | $41.7M | ||
| Q2 25 | $8.3M | $36.0M | ||
| Q1 25 | $6.1M | $32.6M | ||
| Q4 24 | $56.4M | $34.5M | ||
| Q3 24 | $17.2M | $32.5M | ||
| Q2 24 | $76.7M | $29.3M | ||
| Q1 24 | $10.8M | $27.8M |
| Q4 25 | 75.2% | — | ||
| Q3 25 | 75.1% | — | ||
| Q2 25 | 75.2% | — | ||
| Q1 25 | 75.5% | — | ||
| Q4 24 | 75.6% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 74.9% | — | ||
| Q1 24 | 75.2% | — |
| Q4 25 | 3.7% | 48.3% | ||
| Q3 25 | 4.3% | 50.4% | ||
| Q2 25 | 4.4% | 46.8% | ||
| Q1 25 | 2.1% | 44.9% | ||
| Q4 24 | 3.7% | 46.8% | ||
| Q3 24 | 5.0% | 45.0% | ||
| Q2 24 | 1.4% | 43.3% | ||
| Q1 24 | 1.1% | 41.8% |
| Q4 25 | 2.7% | 38.8% | ||
| Q3 25 | 3.0% | 40.6% | ||
| Q2 25 | 4.8% | 37.6% | ||
| Q1 25 | 3.6% | 36.4% | ||
| Q4 24 | 33.3% | 37.3% | ||
| Q3 24 | 10.4% | 35.8% | ||
| Q2 24 | 47.8% | 34.5% | ||
| Q1 24 | 6.9% | 33.8% |
| Q4 25 | $0.07 | $2.63 | ||
| Q3 25 | $0.09 | $2.73 | ||
| Q2 25 | $0.13 | $2.34 | ||
| Q1 25 | $0.10 | $2.08 | ||
| Q4 24 | $0.79 | $2.21 | ||
| Q3 24 | $0.27 | $2.10 | ||
| Q2 24 | $0.22 | $1.92 | ||
| Q1 24 | $0.17 | $1.82 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $390.0M | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $332.3M | $1.3B |
| Total Assets | $1.8B | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $390.0M | — | ||
| Q3 25 | $419.9M | — | ||
| Q2 25 | $459.1M | — | ||
| Q1 25 | $479.5M | — | ||
| Q4 24 | $885.9M | — | ||
| Q3 24 | $725.3M | — | ||
| Q2 24 | $616.6M | — | ||
| Q1 24 | $331.4M | — |
| Q4 25 | — | $134.9M | ||
| Q3 25 | — | $134.6M | ||
| Q2 25 | — | $134.3M | ||
| Q1 25 | — | $156.6M | ||
| Q4 24 | — | $161.4M | ||
| Q3 24 | — | $161.2M | ||
| Q2 24 | — | $162.4M | ||
| Q1 24 | — | $162.3M |
| Q4 25 | $332.3M | $1.3B | ||
| Q3 25 | $328.3M | $1.2B | ||
| Q2 25 | $414.0M | $1.2B | ||
| Q1 25 | $417.9M | $1.2B | ||
| Q4 24 | $446.7M | $1.2B | ||
| Q3 24 | $367.9M | $1.1B | ||
| Q2 24 | $325.8M | $1.1B | ||
| Q1 24 | $279.8M | $1.1B |
| Q4 25 | $1.8B | $9.2B | ||
| Q3 25 | $1.7B | $9.0B | ||
| Q2 25 | $1.8B | $8.9B | ||
| Q1 25 | $1.8B | $9.0B | ||
| Q4 24 | $1.8B | $8.8B | ||
| Q3 24 | $1.7B | $8.6B | ||
| Q2 24 | $1.9B | $8.6B | ||
| Q1 24 | $2.1B | $8.4B |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $26.7M | $153.5M |
| Free Cash FlowOCF − Capex | $26.1M | $149.4M |
| FCF MarginFCF / Revenue | 14.2% | 143.7% |
| Capex IntensityCapex / Revenue | 0.3% | 3.9% |
| Cash ConversionOCF / Net Profit | 5.46× | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.7M | $153.5M | ||
| Q3 25 | $63.8M | $45.9M | ||
| Q2 25 | $32.3M | $38.9M | ||
| Q1 25 | $46.7M | $41.8M | ||
| Q4 24 | $43.8M | $133.7M | ||
| Q3 24 | $55.9M | $39.6M | ||
| Q2 24 | $40.7M | $37.3M | ||
| Q1 24 | $50.4M | $23.4M |
| Q4 25 | $26.1M | $149.4M | ||
| Q3 25 | $63.3M | $45.9M | ||
| Q2 25 | $31.4M | $38.4M | ||
| Q1 25 | $40.8M | $41.3M | ||
| Q4 24 | $43.0M | $116.8M | ||
| Q3 24 | $55.5M | $34.7M | ||
| Q2 24 | $40.0M | $34.4M | ||
| Q1 24 | $50.1M | $20.1M |
| Q4 25 | 14.2% | 143.7% | ||
| Q3 25 | 35.5% | 44.6% | ||
| Q2 25 | 18.2% | 40.1% | ||
| Q1 25 | 24.4% | 46.2% | ||
| Q4 24 | 25.4% | 126.4% | ||
| Q3 24 | 33.5% | 38.3% | ||
| Q2 24 | 24.9% | 40.5% | ||
| Q1 24 | 31.8% | 24.4% |
| Q4 25 | 0.3% | 3.9% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.6% | 0.6% | ||
| Q1 25 | 3.6% | 0.5% | ||
| Q4 24 | 0.4% | 18.3% | ||
| Q3 24 | 0.2% | 5.4% | ||
| Q2 24 | 0.4% | 3.5% | ||
| Q1 24 | 0.2% | 4.0% |
| Q4 25 | 5.46× | 3.81× | ||
| Q3 25 | 12.07× | 1.10× | ||
| Q2 25 | 3.90× | 1.08× | ||
| Q1 25 | 7.72× | 1.28× | ||
| Q4 24 | 0.78× | 3.88× | ||
| Q3 24 | 3.24× | 1.22× | ||
| Q2 24 | 0.53× | 1.28× | ||
| Q1 24 | 4.66× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
NIC
Segment breakdown not available.
