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Side-by-side financial comparison of CytomX Therapeutics, Inc. (CTMX) and NATIONAL BANKSHARES INC (NKSH). Click either name above to swap in a different company.

CytomX Therapeutics, Inc. is the larger business by last-quarter revenue ($18.7M vs $15.3M, roughly 1.2× NATIONAL BANKSHARES INC). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs -0.8%, a 39.3% gap on every dollar of revenue. On growth, NATIONAL BANKSHARES INC posted the faster year-over-year revenue change (24.7% vs -25.7%). NATIONAL BANKSHARES INC produced more free cash flow last quarter ($15.2M vs $-15.8M). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs -15.9%).

CytomX Therapeutics is a clinical-stage biotechnology company specializing in innovative cancer immunotherapies. It leverages its proprietary Probody technology platform to develop targeted therapies that activate exclusively in tumor microenvironments, minimizing off-target toxicities, with a pipeline covering multiple solid tumor indications and partnerships with leading global pharmaceutical firms.

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.

CTMX vs NKSH — Head-to-Head

Bigger by revenue
CTMX
CTMX
1.2× larger
CTMX
$18.7M
$15.3M
NKSH
Growing faster (revenue YoY)
NKSH
NKSH
+50.4% gap
NKSH
24.7%
-25.7%
CTMX
Higher net margin
NKSH
NKSH
39.3% more per $
NKSH
38.5%
-0.8%
CTMX
More free cash flow
NKSH
NKSH
$30.9M more FCF
NKSH
$15.2M
$-15.8M
CTMX
Faster 2-yr revenue CAGR
NKSH
NKSH
Annualised
NKSH
20.9%
-15.9%
CTMX

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
CTMX
CTMX
NKSH
NKSH
Revenue
$18.7M
$15.3M
Net Profit
$-154.0K
$5.9M
Gross Margin
Operating Margin
-6.9%
47.4%
Net Margin
-0.8%
38.5%
Revenue YoY
-25.7%
24.7%
Net Profit YoY
97.6%
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.

Revenue
CTMX
CTMX
NKSH
NKSH
Q4 25
$15.3M
Q3 25
$14.2M
Q2 25
$18.7M
$13.3M
Q1 25
$50.9M
$12.8M
Q4 24
$38.1M
$12.2M
Q3 24
$33.4M
$11.7M
Q2 24
$25.1M
$10.9M
Q1 24
$41.5M
$10.4M
Net Profit
CTMX
CTMX
NKSH
NKSH
Q4 25
$5.9M
Q3 25
$4.4M
Q2 25
$-154.0K
$2.3M
Q1 25
$23.5M
$3.2M
Q4 24
$18.9M
$3.1M
Q3 24
$5.7M
$2.7M
Q2 24
$-6.5M
$-307.0K
Q1 24
$13.8M
$2.2M
Operating Margin
CTMX
CTMX
NKSH
NKSH
Q4 25
47.4%
Q3 25
37.9%
Q2 25
-6.9%
20.0%
Q1 25
44.4%
30.5%
Q4 24
46.4%
30.1%
Q3 24
12.3%
27.5%
Q2 24
-33.7%
-4.4%
Q1 24
28.1%
25.8%
Net Margin
CTMX
CTMX
NKSH
NKSH
Q4 25
38.5%
Q3 25
31.1%
Q2 25
-0.8%
17.2%
Q1 25
46.2%
25.3%
Q4 24
49.6%
25.1%
Q3 24
17.2%
22.8%
Q2 24
-26.0%
-2.8%
Q1 24
33.3%
20.8%
EPS (diluted)
CTMX
CTMX
NKSH
NKSH
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
CTMX
CTMX
NKSH
NKSH
Cash + ST InvestmentsLiquidity on hand
$49.0M
$59.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$119.9M
$184.9M
Total Assets
$175.1M
$1.8B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CTMX
CTMX
NKSH
NKSH
Q4 25
$59.3M
Q3 25
$42.3M
Q2 25
$49.0M
$92.8M
Q1 25
$47.6M
$122.5M
Q4 24
$38.1M
$108.1M
Q3 24
$40.6M
$49.8M
Q2 24
$43.2M
$98.9M
Q1 24
$36.2M
$121.2M
Stockholders' Equity
CTMX
CTMX
NKSH
NKSH
Q4 25
$184.9M
Q3 25
$179.2M
Q2 25
$119.9M
$168.7M
Q1 25
$25.0M
$167.3M
Q4 24
$-456.0K
$156.4M
Q3 24
$-23.5M
$167.8M
Q2 24
$-31.2M
$149.0M
Q1 24
$-31.7M
$139.4M
Total Assets
CTMX
CTMX
NKSH
NKSH
Q4 25
$1.8B
Q3 25
$1.8B
Q2 25
$175.1M
$1.8B
Q1 25
$98.5M
$1.8B
Q4 24
$120.5M
$1.8B
Q3 24
$139.0M
$1.8B
Q2 24
$159.2M
$1.8B
Q1 24
$184.7M
$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
CTMX
CTMX
NKSH
NKSH
Operating Cash FlowLast quarter
$-15.8M
$17.9M
Free Cash FlowOCF − Capex
$-15.8M
$15.2M
FCF MarginFCF / Revenue
-84.6%
99.2%
Capex IntensityCapex / Revenue
0.1%
17.9%
Cash ConversionOCF / Net Profit
3.04×
TTM Free Cash FlowTrailing 4 quarters
$-77.7M
$23.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CTMX
CTMX
NKSH
NKSH
Q4 25
$17.9M
Q3 25
$6.1M
Q2 25
$-15.8M
$2.1M
Q1 25
$-21.0M
$2.6M
Q4 24
$-19.9M
$9.4M
Q3 24
$-20.7M
$3.1M
Q2 24
$-19.5M
$-3.0M
Q1 24
$-26.0M
$3.8M
Free Cash Flow
CTMX
CTMX
NKSH
NKSH
Q4 25
$15.2M
Q3 25
$5.3M
Q2 25
$-15.8M
$1.5M
Q1 25
$-21.2M
$1.6M
Q4 24
$-20.0M
$6.2M
Q3 24
$-20.7M
$2.2M
Q2 24
$-19.6M
$-4.0M
Q1 24
$-26.2M
$3.5M
FCF Margin
CTMX
CTMX
NKSH
NKSH
Q4 25
99.2%
Q3 25
37.4%
Q2 25
-84.6%
11.5%
Q1 25
-41.6%
12.5%
Q4 24
-52.5%
50.5%
Q3 24
-62.1%
18.5%
Q2 24
-78.2%
-36.3%
Q1 24
-63.1%
33.8%
Capex Intensity
CTMX
CTMX
NKSH
NKSH
Q4 25
17.9%
Q3 25
5.6%
Q2 25
0.1%
4.1%
Q1 25
0.2%
7.5%
Q4 24
0.2%
26.6%
Q3 24
0.1%
8.3%
Q2 24
0.4%
9.3%
Q1 24
0.3%
3.0%
Cash Conversion
CTMX
CTMX
NKSH
NKSH
Q4 25
3.04×
Q3 25
1.38×
Q2 25
0.90×
Q1 25
-0.89×
0.79×
Q4 24
-1.05×
3.07×
Q3 24
-3.61×
1.17×
Q2 24
Q1 24
-1.89×
1.77×

Financial Flow Comparison

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

Revenue Breakdown by Segment

CTMX
CTMX

Bristol Myers Squibb Company$11.6M62%
Astellas Pharma Inc$4.6M25%
Regeneron Pharmaceuticals Inc$2.1M11%

NKSH
NKSH

Segment breakdown not available.

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