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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and NATIONAL BANKSHARES INC (NKSH). Click either name above to swap in a different company.
FREQUENCY ELECTRONICS INC is the larger business by last-quarter revenue ($17.1M vs $15.3M, roughly 1.1× NATIONAL BANKSHARES INC). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs 10.5%, a 28.0% gap on every dollar of revenue. On growth, NATIONAL BANKSHARES INC posted the faster year-over-year revenue change (24.7% vs 8.3%). NATIONAL BANKSHARES INC produced more free cash flow last quarter ($15.2M vs $-1.1M). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs 11.8%).
Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.
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.
FEIM vs NKSH — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $15.3M |
| Net Profit | $1.8M | $5.9M |
| Gross Margin | 38.2% | — |
| Operating Margin | 10.0% | 47.4% |
| Net Margin | 10.5% | 38.5% |
| Revenue YoY | 8.3% | 24.7% |
| Net Profit YoY | -32.1% | 91.0% |
| EPS (diluted) | $0.18 | $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.
| Q4 25 | $17.1M | $15.3M | ||
| Q3 25 | $13.8M | $14.2M | ||
| Q2 25 | $20.0M | $13.3M | ||
| Q1 25 | $18.9M | $12.8M | ||
| Q4 24 | $15.8M | $12.2M | ||
| Q3 24 | $15.1M | $11.7M | ||
| Q2 24 | $15.6M | $10.9M | ||
| Q1 24 | $13.7M | $10.4M |
| Q4 25 | $1.8M | $5.9M | ||
| Q3 25 | $634.0K | $4.4M | ||
| Q2 25 | $3.2M | $2.3M | ||
| Q1 25 | $15.4M | $3.2M | ||
| Q4 24 | $2.7M | $3.1M | ||
| Q3 24 | $2.4M | $2.7M | ||
| Q2 24 | $2.6M | $-307.0K | ||
| Q1 24 | $130.0K | $2.2M |
| Q4 25 | 38.2% | — | ||
| Q3 25 | 36.8% | — | ||
| Q2 25 | 37.5% | — | ||
| Q1 25 | 43.8% | — | ||
| Q4 24 | 48.2% | — | ||
| Q3 24 | 44.4% | — | ||
| Q2 24 | 40.3% | — | ||
| Q1 24 | 22.6% | — |
| Q4 25 | 10.0% | 47.4% | ||
| Q3 25 | 2.6% | 37.9% | ||
| Q2 25 | 16.4% | 20.0% | ||
| Q1 25 | 18.3% | 30.5% | ||
| Q4 24 | 16.5% | 30.1% | ||
| Q3 24 | 15.7% | 27.5% | ||
| Q2 24 | 16.0% | -4.4% | ||
| Q1 24 | -3.4% | 25.8% |
| Q4 25 | 10.5% | 38.5% | ||
| Q3 25 | 4.6% | 31.1% | ||
| Q2 25 | 16.0% | 17.2% | ||
| Q1 25 | 81.4% | 25.3% | ||
| Q4 24 | 16.8% | 25.1% | ||
| Q3 24 | 16.1% | 22.8% | ||
| Q2 24 | 16.9% | -2.8% | ||
| Q1 24 | 0.9% | 20.8% |
| Q4 25 | $0.18 | $0.93 | ||
| Q3 25 | $0.07 | $0.69 | ||
| Q2 25 | $0.33 | $0.36 | ||
| Q1 25 | $1.60 | $0.51 | ||
| Q4 24 | $0.28 | $0.50 | ||
| Q3 24 | $0.25 | $0.42 | ||
| Q2 24 | $0.28 | $-0.05 | ||
| Q1 24 | $0.01 | $0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.0M | $59.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $58.5M | $184.9M |
| Total Assets | $92.3M | $1.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $59.3M | ||
| Q3 25 | $4.5M | $42.3M | ||
| Q2 25 | $4.7M | $92.8M | ||
| Q1 25 | $5.5M | $122.5M | ||
| Q4 24 | $9.7M | $108.1M | ||
| Q3 24 | $16.2M | $49.8M | ||
| Q2 24 | $18.3M | $98.9M | ||
| Q1 24 | $11.7M | $121.2M |
| Q4 25 | $58.5M | $184.9M | ||
| Q3 25 | $56.3M | $179.2M | ||
| Q2 25 | $55.6M | $168.7M | ||
| Q1 25 | $51.8M | $167.3M | ||
| Q4 24 | $36.2M | $156.4M | ||
| Q3 24 | $33.2M | $167.8M | ||
| Q2 24 | $39.8M | $149.0M | ||
| Q1 24 | $36.7M | $139.4M |
| Q4 25 | $92.3M | $1.8B | ||
| Q3 25 | $93.2M | $1.8B | ||
| Q2 25 | $93.7M | $1.8B | ||
| Q1 25 | $86.4M | $1.8B | ||
| Q4 24 | $77.8M | $1.8B | ||
| Q3 24 | $84.3M | $1.8B | ||
| Q2 24 | $83.3M | $1.8B | ||
| Q1 24 | $77.7M | $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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-523.0K | $17.9M |
| Free Cash FlowOCF − Capex | $-1.1M | $15.2M |
| FCF MarginFCF / Revenue | -6.6% | 99.2% |
| Capex IntensityCapex / Revenue | 3.6% | 17.9% |
| Cash ConversionOCF / Net Profit | -0.29× | 3.04× |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | $23.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $17.9M | ||
| Q3 25 | $1.2M | $6.1M | ||
| Q2 25 | $-155.0K | $2.1M | ||
| Q1 25 | $-3.6M | $2.6M | ||
| Q4 24 | $3.8M | $9.4M | ||
| Q3 24 | $-1.5M | $3.1M | ||
| Q2 24 | $7.5M | $-3.0M | ||
| Q1 24 | $4.2M | $3.8M |
| Q4 25 | $-1.1M | $15.2M | ||
| Q3 25 | $385.0K | $5.3M | ||
| Q2 25 | $-786.0K | $1.5M | ||
| Q1 25 | $-4.0M | $1.6M | ||
| Q4 24 | $3.3M | $6.2M | ||
| Q3 24 | $-1.8M | $2.2M | ||
| Q2 24 | $6.7M | $-4.0M | ||
| Q1 24 | $3.9M | $3.5M |
| Q4 25 | -6.6% | 99.2% | ||
| Q3 25 | 2.8% | 37.4% | ||
| Q2 25 | -3.9% | 11.5% | ||
| Q1 25 | -20.9% | 12.5% | ||
| Q4 24 | 20.8% | 50.5% | ||
| Q3 24 | -11.8% | 18.5% | ||
| Q2 24 | 42.8% | -36.3% | ||
| Q1 24 | 28.4% | 33.8% |
| Q4 25 | 3.6% | 17.9% | ||
| Q3 25 | 5.6% | 5.6% | ||
| Q2 25 | 3.2% | 4.1% | ||
| Q1 25 | 1.7% | 7.5% | ||
| Q4 24 | 3.3% | 26.6% | ||
| Q3 24 | 2.2% | 8.3% | ||
| Q2 24 | 5.3% | 9.3% | ||
| Q1 24 | 2.3% | 3.0% |
| Q4 25 | -0.29× | 3.04× | ||
| Q3 25 | 1.83× | 1.38× | ||
| Q2 25 | -0.05× | 0.90× | ||
| Q1 25 | -0.24× | 0.79× | ||
| Q4 24 | 1.44× | 3.07× | ||
| Q3 24 | -0.60× | 1.17× | ||
| Q2 24 | 2.85× | — | ||
| Q1 24 | 32.36× | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
NKSH
Segment breakdown not available.
