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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and NICOLET BANKSHARES INC (NIC). Click either name above to swap in a different company.
NICOLET BANKSHARES INC is the larger business by last-quarter revenue ($104.0M vs $85.1M, roughly 1.2× 4D Molecular Therapeutics, Inc.). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs 22.8%, a 16.0% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $28.5M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 12.5%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
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.
FDMT vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $104.0M |
| Net Profit | $19.4M | $40.3M |
| Gross Margin | — | — |
| Operating Margin | 17.3% | 48.3% |
| Net Margin | 22.8% | 38.8% |
| Revenue YoY | 8508900.0% | 12.5% |
| Net Profit YoY | 139.1% | 16.9% |
| EPS (diluted) | $0.43 | $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 | $85.1M | $104.0M | ||
| Q3 25 | $90.0K | $102.9M | ||
| Q2 25 | $15.0K | $95.7M | ||
| Q1 25 | $14.0K | $89.4M | ||
| Q4 24 | $1.0K | $92.4M | ||
| Q3 24 | $3.0K | $90.7M | ||
| Q2 24 | $5.0K | $85.0M | ||
| Q1 24 | $28.0K | $82.2M |
| Q4 25 | $19.4M | $40.3M | ||
| Q3 25 | $-56.9M | $41.7M | ||
| Q2 25 | $-54.7M | $36.0M | ||
| Q1 25 | $-48.0M | $32.6M | ||
| Q4 24 | — | $34.5M | ||
| Q3 24 | $-43.8M | $32.5M | ||
| Q2 24 | $-35.0M | $29.3M | ||
| Q1 24 | $-32.4M | $27.8M |
| Q4 25 | 17.3% | 48.3% | ||
| Q3 25 | -67983.3% | 50.4% | ||
| Q2 25 | -396373.3% | 46.8% | ||
| Q1 25 | -383007.1% | 44.9% | ||
| Q4 24 | — | 46.8% | ||
| Q3 24 | -1704400.0% | 45.0% | ||
| Q2 24 | -849120.0% | 43.3% | ||
| Q1 24 | -136200.0% | 41.8% |
| Q4 25 | 22.8% | 38.8% | ||
| Q3 25 | -63195.6% | 40.6% | ||
| Q2 25 | -364386.7% | 37.6% | ||
| Q1 25 | -342657.1% | 36.4% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | -1461433.3% | 35.8% | ||
| Q2 24 | -699060.0% | 34.5% | ||
| Q1 24 | -115717.9% | 33.8% |
| Q4 25 | $0.43 | $2.63 | ||
| Q3 25 | $-1.01 | $2.73 | ||
| Q2 25 | $-0.98 | $2.34 | ||
| Q1 25 | $-0.86 | $2.08 | ||
| Q4 24 | — | $2.21 | ||
| Q3 24 | $-0.79 | $2.10 | ||
| Q2 24 | $-0.63 | $1.92 | ||
| Q1 24 | $-0.66 | $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 | $402.7M | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $505.7M | $1.3B |
| Total Assets | $566.7M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | — | ||
| Q3 25 | $305.1M | — | ||
| Q2 25 | $293.2M | — | ||
| Q1 25 | $321.4M | — | ||
| Q4 24 | $424.9M | — | ||
| Q3 24 | $501.9M | — | ||
| Q2 24 | $541.9M | — | ||
| Q1 24 | $525.9M | — |
| 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 | $505.7M | $1.3B | ||
| Q3 25 | $369.0M | $1.2B | ||
| Q2 25 | $420.9M | $1.2B | ||
| Q1 25 | $469.7M | $1.2B | ||
| Q4 24 | $510.6M | $1.2B | ||
| Q3 24 | $552.9M | $1.1B | ||
| Q2 24 | $588.3M | $1.1B | ||
| Q1 24 | $600.6M | $1.1B |
| Q4 25 | $566.7M | $9.2B | ||
| Q3 25 | $424.0M | $9.0B | ||
| Q2 25 | $473.6M | $8.9B | ||
| Q1 25 | $515.7M | $9.0B | ||
| Q4 24 | $560.4M | $8.8B | ||
| Q3 24 | $604.0M | $8.6B | ||
| Q2 24 | $620.1M | $8.6B | ||
| Q1 24 | $629.9M | $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 | $28.6M | $153.5M |
| Free Cash FlowOCF − Capex | $28.5M | $149.4M |
| FCF MarginFCF / Revenue | 33.5% | 143.7% |
| Capex IntensityCapex / Revenue | 0.1% | 3.9% |
| Cash ConversionOCF / Net Profit | 1.47× | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $153.5M | ||
| Q3 25 | $-46.5M | $45.9M | ||
| Q2 25 | $-43.4M | $38.9M | ||
| Q1 25 | $-47.8M | $41.8M | ||
| Q4 24 | $-134.6M | $133.7M | ||
| Q3 24 | $-29.4M | $39.6M | ||
| Q2 24 | $-30.2M | $37.3M | ||
| Q1 24 | $-29.1M | $23.4M |
| Q4 25 | $28.5M | $149.4M | ||
| Q3 25 | $-46.6M | $45.9M | ||
| Q2 25 | $-43.4M | $38.4M | ||
| Q1 25 | $-48.4M | $41.3M | ||
| Q4 24 | $-138.4M | $116.8M | ||
| Q3 24 | $-31.2M | $34.7M | ||
| Q2 24 | $-30.6M | $34.4M | ||
| Q1 24 | $-29.8M | $20.1M |
| Q4 25 | 33.5% | 143.7% | ||
| Q3 25 | -51765.6% | 44.6% | ||
| Q2 25 | -289620.0% | 40.1% | ||
| Q1 25 | -345635.7% | 46.2% | ||
| Q4 24 | -13837100.0% | 126.4% | ||
| Q3 24 | -1038966.7% | 38.3% | ||
| Q2 24 | -611840.0% | 40.5% | ||
| Q1 24 | -106421.4% | 24.4% |
| Q4 25 | 0.1% | 3.9% | ||
| Q3 25 | 101.1% | 0.0% | ||
| Q2 25 | 440.0% | 0.6% | ||
| Q1 25 | 4507.1% | 0.5% | ||
| Q4 24 | 378600.0% | 18.3% | ||
| Q3 24 | 59266.7% | 5.4% | ||
| Q2 24 | 6980.0% | 3.5% | ||
| Q1 24 | 2535.7% | 4.0% |
| Q4 25 | 1.47× | 3.81× | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 3.88× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
