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Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and NICOLET BANKSHARES INC (NIC). Click either name above to swap in a different company.
Emerald Holding, Inc. is the larger business by last-quarter revenue ($132.7M vs $104.0M, roughly 1.3× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -22.8%, a 61.5% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $11.7M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
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.
EEX vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $104.0M |
| Net Profit | $-30.2M | $40.3M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | 48.3% |
| Net Margin | -22.8% | 38.8% |
| Revenue YoY | 24.3% | 12.5% |
| Net Profit YoY | -692.2% | 16.9% |
| EPS (diluted) | $-0.15 | $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 | $132.7M | $104.0M | ||
| Q3 25 | $77.5M | $102.9M | ||
| Q2 25 | $105.5M | $95.7M | ||
| Q1 25 | $147.7M | $89.4M | ||
| Q4 24 | $106.8M | $92.4M | ||
| Q3 24 | $72.6M | $90.7M | ||
| Q2 24 | $86.0M | $85.0M | ||
| Q1 24 | $133.4M | $82.2M |
| Q4 25 | $-30.2M | $40.3M | ||
| Q3 25 | $-14.4M | $41.7M | ||
| Q2 25 | $-1.4M | $36.0M | ||
| Q1 25 | $15.3M | $32.6M | ||
| Q4 24 | $5.1M | $34.5M | ||
| Q3 24 | $-11.1M | $32.5M | ||
| Q2 24 | $-2.8M | $29.3M | ||
| Q1 24 | $11.0M | $27.8M |
| Q4 25 | -11.8% | 48.3% | ||
| Q3 25 | -10.1% | 50.4% | ||
| Q2 25 | 9.7% | 46.8% | ||
| Q1 25 | 24.2% | 44.9% | ||
| Q4 24 | 19.5% | 46.8% | ||
| Q3 24 | -6.5% | 45.0% | ||
| Q2 24 | 7.4% | 43.3% | ||
| Q1 24 | 18.2% | 41.8% |
| Q4 25 | -22.8% | 38.8% | ||
| Q3 25 | -18.6% | 40.6% | ||
| Q2 25 | -1.3% | 37.6% | ||
| Q1 25 | 10.4% | 36.4% | ||
| Q4 24 | 4.8% | 37.3% | ||
| Q3 24 | -15.3% | 35.8% | ||
| Q2 24 | -3.3% | 34.5% | ||
| Q1 24 | 8.2% | 33.8% |
| Q4 25 | $-0.15 | $2.63 | ||
| Q3 25 | $-0.07 | $2.73 | ||
| Q2 25 | $-0.01 | $2.34 | ||
| Q1 25 | $0.08 | $2.08 | ||
| Q4 24 | $0.01 | $2.21 | ||
| Q3 24 | $-0.05 | $2.10 | ||
| Q2 24 | $-0.03 | $1.92 | ||
| Q1 24 | $0.00 | $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 | $100.9M | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $338.8M | $1.3B |
| Total Assets | $1.2B | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | — | ||
| Q3 25 | $95.4M | — | ||
| Q2 25 | $156.4M | — | ||
| Q1 25 | $276.8M | — | ||
| Q4 24 | $194.8M | — | ||
| Q3 24 | $188.9M | — | ||
| Q2 24 | $193.2M | — | ||
| Q1 24 | $186.8M | — |
| 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 | $338.8M | $1.3B | ||
| Q3 25 | $369.5M | $1.2B | ||
| Q2 25 | $389.4M | $1.2B | ||
| Q1 25 | $392.1M | $1.2B | ||
| Q4 24 | $385.9M | $1.2B | ||
| Q3 24 | $391.1M | $1.1B | ||
| Q2 24 | $407.6M | $1.1B | ||
| Q1 24 | $-90.7M | $1.1B |
| Q4 25 | $1.2B | $9.2B | ||
| Q3 25 | $1.2B | $9.0B | ||
| Q2 25 | $1.2B | $8.9B | ||
| Q1 25 | $1.2B | $9.0B | ||
| Q4 24 | $1.0B | $8.8B | ||
| Q3 24 | $1.1B | $8.6B | ||
| Q2 24 | $1.1B | $8.6B | ||
| Q1 24 | $1.1B | $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 | $12.3M | $153.5M |
| Free Cash FlowOCF − Capex | $11.7M | $149.4M |
| FCF MarginFCF / Revenue | 8.8% | 143.7% |
| Capex IntensityCapex / Revenue | 0.5% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $153.5M | ||
| Q3 25 | $1.8M | $45.9M | ||
| Q2 25 | $15.9M | $38.9M | ||
| Q1 25 | $12.6M | $41.8M | ||
| Q4 24 | $20.6M | $133.7M | ||
| Q3 24 | $9.1M | $39.6M | ||
| Q2 24 | $9.8M | $37.3M | ||
| Q1 24 | $7.3M | $23.4M |
| Q4 25 | $11.7M | $149.4M | ||
| Q3 25 | $1.5M | $45.9M | ||
| Q2 25 | $15.8M | $38.4M | ||
| Q1 25 | $12.4M | $41.3M | ||
| Q4 24 | $19.9M | $116.8M | ||
| Q3 24 | $9.0M | $34.7M | ||
| Q2 24 | $9.6M | $34.4M | ||
| Q1 24 | $7.0M | $20.1M |
| Q4 25 | 8.8% | 143.7% | ||
| Q3 25 | 1.9% | 44.6% | ||
| Q2 25 | 15.0% | 40.1% | ||
| Q1 25 | 8.4% | 46.2% | ||
| Q4 24 | 18.6% | 126.4% | ||
| Q3 24 | 12.4% | 38.3% | ||
| Q2 24 | 11.2% | 40.5% | ||
| Q1 24 | 5.2% | 24.4% |
| Q4 25 | 0.5% | 3.9% | ||
| Q3 25 | 0.4% | 0.0% | ||
| Q2 25 | 0.1% | 0.6% | ||
| Q1 25 | 0.1% | 0.5% | ||
| Q4 24 | 0.7% | 18.3% | ||
| Q3 24 | 0.1% | 5.4% | ||
| Q2 24 | 0.2% | 3.5% | ||
| Q1 24 | 0.2% | 4.0% |
| Q4 25 | — | 3.81× | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | 0.82× | 1.28× | ||
| Q4 24 | 4.04× | 3.88× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | 0.66× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
NIC
Segment breakdown not available.
