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Side-by-side financial comparison of Cheer Holding, Inc. (CHR) and National Bank Holdings Corp (NBHC). Click either name above to swap in a different company.

National Bank Holdings Corp is the larger business by last-quarter revenue ($126.8M vs $71.0M, roughly 1.8× Cheer Holding, Inc.). National Bank Holdings Corp runs the higher net margin — 16.4% vs 10.9%, a 5.5% gap on every dollar of revenue.

Cheer Holding, Inc. is a diversified holding company primarily operating in the Chinese market, with core business segments covering early childhood education services, mobile lifestyle platforms, digital content offerings, and integrated consumer solutions for households and enterprise partners across multiple demand scenarios.

Old National Bank is an American regional bank with nearly 200 retail branches operated by Old National Bancorp and based in Chicago and Evansville, Indiana. With assets at $48.5 billion and 250 banking centers, Old National Bancorp is the largest financial services bank holding company headquartered in Indiana and one of the top 30 banking companies in the U.S. Old National Bank has locations in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Tennessee, and Wisconsin.

CHR vs NBHC — Head-to-Head

Bigger by revenue
NBHC
NBHC
1.8× larger
NBHC
$126.8M
$71.0M
CHR
Higher net margin
NBHC
NBHC
5.5% more per $
NBHC
16.4%
10.9%
CHR

Income Statement — Q2 FY2025 vs Q1 FY2026

Metric
CHR
CHR
NBHC
NBHC
Revenue
$71.0M
$126.8M
Net Profit
$7.8M
$20.8M
Gross Margin
70.7%
Operating Margin
11.7%
Net Margin
10.9%
16.4%
Revenue YoY
-0.1%
Net Profit YoY
-37.5%
-14.2%
EPS (diluted)
$0.67
$0.46

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
CHR
CHR
NBHC
NBHC
Q1 26
$126.8M
Q4 25
$100.6M
Q3 25
$108.9M
Q2 25
$71.0M
$104.5M
Q1 25
$102.1M
Q4 24
$101.3M
Q3 24
$106.0M
Q2 24
$71.1M
$97.6M
Net Profit
CHR
CHR
NBHC
NBHC
Q1 26
$20.8M
Q4 25
$16.0M
Q3 25
$35.3M
Q2 25
$7.8M
$34.0M
Q1 25
$24.2M
Q4 24
$28.2M
Q3 24
$33.1M
Q2 24
$12.4M
$26.1M
Gross Margin
CHR
CHR
NBHC
NBHC
Q1 26
Q4 25
Q3 25
Q2 25
70.7%
Q1 25
Q4 24
Q3 24
Q2 24
73.4%
Operating Margin
CHR
CHR
NBHC
NBHC
Q1 26
Q4 25
19.0%
Q3 25
39.6%
Q2 25
11.7%
39.8%
Q1 25
29.2%
Q4 24
34.3%
Q3 24
37.6%
Q2 24
16.4%
32.5%
Net Margin
CHR
CHR
NBHC
NBHC
Q1 26
16.4%
Q4 25
15.9%
Q3 25
32.4%
Q2 25
10.9%
32.6%
Q1 25
23.7%
Q4 24
27.8%
Q3 24
31.2%
Q2 24
17.5%
26.8%
EPS (diluted)
CHR
CHR
NBHC
NBHC
Q1 26
$0.46
Q4 25
$0.42
Q3 25
$0.92
Q2 25
$0.67
$0.88
Q1 25
$0.63
Q4 24
$0.72
Q3 24
$0.86
Q2 24
$1.23
$0.68

Balance Sheet & Financial Strength

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

Metric
CHR
CHR
NBHC
NBHC
Cash + ST InvestmentsLiquidity on hand
$472.8M
Total DebtLower is stronger
$202.1M
Stockholders' EquityBook value
$322.1M
$1.7B
Total Assets
$362.7M
$12.6B
Debt / EquityLower = less leverage
0.12×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CHR
CHR
NBHC
NBHC
Q1 26
$472.8M
Q4 25
$417.1M
Q3 25
$555.6M
Q2 25
$296.5M
Q1 25
$246.3M
Q4 24
$127.8M
Q3 24
$180.8M
Q2 24
$186.1M
$145.0M
Total Debt
CHR
CHR
NBHC
NBHC
Q1 26
$202.1M
Q4 25
$54.5M
Q3 25
$54.7M
Q2 25
$54.4M
Q1 25
$54.6M
Q4 24
$54.5M
Q3 24
$54.4M
Q2 24
$54.4M
Stockholders' Equity
CHR
CHR
NBHC
NBHC
Q1 26
$1.7B
Q4 25
$1.4B
Q3 25
$1.4B
Q2 25
$322.1M
$1.4B
Q1 25
$1.3B
Q4 24
$1.3B
Q3 24
$1.3B
Q2 24
$286.1M
$1.2B
Total Assets
CHR
CHR
NBHC
NBHC
Q1 26
$12.6B
Q4 25
$9.9B
Q3 25
$10.2B
Q2 25
$362.7M
$10.0B
Q1 25
$10.1B
Q4 24
$9.8B
Q3 24
$10.0B
Q2 24
$333.2M
$10.0B
Debt / Equity
CHR
CHR
NBHC
NBHC
Q1 26
0.12×
Q4 25
0.04×
Q3 25
0.04×
Q2 25
0.04×
Q1 25
0.04×
Q4 24
0.04×
Q3 24
0.04×
Q2 24
0.04×

Cash Flow & Capital Efficiency

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

Metric
CHR
CHR
NBHC
NBHC
Operating Cash FlowLast quarter
$3.9M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.51×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CHR
CHR
NBHC
NBHC
Q1 26
Q4 25
$162.4M
Q3 25
$52.4M
Q2 25
$3.9M
$32.3M
Q1 25
$39.6M
Q4 24
$155.3M
Q3 24
$47.0M
Q2 24
$-6.7M
$31.9M
Cash Conversion
CHR
CHR
NBHC
NBHC
Q1 26
Q4 25
10.13×
Q3 25
1.48×
Q2 25
0.51×
0.95×
Q1 25
1.64×
Q4 24
5.51×
Q3 24
1.42×
Q2 24
-0.54×
1.22×

Financial Flow Comparison

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

Revenue Breakdown by Segment

CHR
CHR

Segment breakdown not available.

NBHC
NBHC

Net Interest Income$108.8M86%
Noninterest Income$18.0M14%

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