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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and NATIONAL BANKSHARES INC (NKSH). Click either name above to swap in a different company.
NATIONAL BANKSHARES INC is the larger business by last-quarter revenue ($15.3M vs $13.8M, roughly 1.1× FENNEC PHARMACEUTICALS INC.). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs -34.7%, a 73.2% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs 24.7%). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs -26.3%).
Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing and commercializing therapies to reduce treatment-related side effects in pediatric cancer patients. Its lead product targets chemotherapy-induced ototoxicity, with core North American markets serving oncology providers and vulnerable pediatric patient groups.
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.
FENC vs NKSH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $15.3M |
| Net Profit | $-4.8M | $5.9M |
| Gross Margin | — | — |
| Operating Margin | -18.5% | 47.4% |
| Net Margin | -34.7% | 38.5% |
| Revenue YoY | 73.8% | 24.7% |
| Net Profit YoY | -141.1% | 91.0% |
| EPS (diluted) | $-0.17 | $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 | $13.8M | $15.3M | ||
| Q3 25 | $12.5M | $14.2M | ||
| Q2 25 | $9.7M | $13.3M | ||
| Q1 25 | $8.8M | $12.8M | ||
| Q4 24 | $7.9M | $12.2M | ||
| Q3 24 | $7.0M | $11.7M | ||
| Q2 24 | $7.3M | $10.9M | ||
| Q1 24 | $25.4M | $10.4M |
| Q4 25 | $-4.8M | $5.9M | ||
| Q3 25 | $-638.0K | $4.4M | ||
| Q2 25 | $-3.2M | $2.3M | ||
| Q1 25 | $-1.2M | $3.2M | ||
| Q4 24 | $-2.0M | $3.1M | ||
| Q3 24 | $-5.7M | $2.7M | ||
| Q2 24 | $-5.6M | $-307.0K | ||
| Q1 24 | $12.8M | $2.2M |
| Q4 25 | -18.5% | 47.4% | ||
| Q3 25 | -1.5% | 37.9% | ||
| Q2 25 | -28.3% | 20.0% | ||
| Q1 25 | -9.2% | 30.5% | ||
| Q4 24 | -11.8% | 30.1% | ||
| Q3 24 | -74.6% | 27.5% | ||
| Q2 24 | -69.4% | -4.4% | ||
| Q1 24 | 54.2% | 25.8% |
| Q4 25 | -34.7% | 38.5% | ||
| Q3 25 | -5.1% | 31.1% | ||
| Q2 25 | -32.7% | 17.2% | ||
| Q1 25 | -13.3% | 25.3% | ||
| Q4 24 | -25.0% | 25.1% | ||
| Q3 24 | -82.2% | 22.8% | ||
| Q2 24 | -76.5% | -2.8% | ||
| Q1 24 | 50.6% | 20.8% |
| Q4 25 | $-0.17 | $0.93 | ||
| Q3 25 | $-0.02 | $0.69 | ||
| Q2 25 | $-0.11 | $0.36 | ||
| Q1 25 | $-0.04 | $0.51 | ||
| Q4 24 | $-0.02 | $0.50 | ||
| Q3 24 | $-0.21 | $0.42 | ||
| Q2 24 | $-0.20 | $-0.05 | ||
| Q1 24 | $0.41 | $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 | $36.8M | $59.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $184.9M |
| Total Assets | $70.6M | $1.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $59.3M | ||
| Q3 25 | $21.9M | $42.3M | ||
| Q2 25 | $18.7M | $92.8M | ||
| Q1 25 | $22.7M | $122.5M | ||
| Q4 24 | $26.6M | $108.1M | ||
| Q3 24 | $40.3M | $49.8M | ||
| Q2 24 | $43.1M | $98.9M | ||
| Q1 24 | $51.2M | $121.2M |
| Q4 25 | — | — | ||
| Q3 25 | $19.4M | — | ||
| Q2 25 | $19.4M | — | ||
| Q1 25 | $19.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | $32.1M | — | ||
| Q2 24 | $31.8M | — | ||
| Q1 24 | $31.3M | — |
| Q4 25 | $35.5M | $184.9M | ||
| Q3 25 | $-4.5M | $179.2M | ||
| Q2 25 | $-7.5M | $168.7M | ||
| Q1 25 | $-5.9M | $167.3M | ||
| Q4 24 | $-5.9M | $156.4M | ||
| Q3 24 | $-5.2M | $167.8M | ||
| Q2 24 | $-1.4M | $149.0M | ||
| Q1 24 | $3.0M | $139.4M |
| Q4 25 | $70.6M | $1.8B | ||
| Q3 25 | $49.3M | $1.8B | ||
| Q2 25 | $44.9M | $1.8B | ||
| Q1 25 | $46.4M | $1.8B | ||
| Q4 24 | $44.9M | $1.8B | ||
| Q3 24 | $58.9M | $1.8B | ||
| Q2 24 | $63.2M | $1.8B | ||
| Q1 24 | $69.2M | $1.7B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.40× | — |
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 | $-6.0M | $17.9M |
| Free Cash FlowOCF − Capex | — | $15.2M |
| FCF MarginFCF / Revenue | — | 99.2% |
| Capex IntensityCapex / Revenue | — | 17.9% |
| Cash ConversionOCF / Net Profit | — | 3.04× |
| TTM Free Cash FlowTrailing 4 quarters | — | $23.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $17.9M | ||
| Q3 25 | $1.5M | $6.1M | ||
| Q2 25 | $-3.7M | $2.1M | ||
| Q1 25 | $-4.3M | $2.6M | ||
| Q4 24 | $-1.5M | $9.4M | ||
| Q3 24 | $-2.2M | $3.1M | ||
| Q2 24 | $-8.4M | $-3.0M | ||
| Q1 24 | $39.0M | $3.8M |
| Q4 25 | — | $15.2M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $1.5M | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | — | $6.2M | ||
| Q3 24 | — | $2.2M | ||
| Q2 24 | — | $-4.0M | ||
| Q1 24 | — | $3.5M |
| Q4 25 | — | 99.2% | ||
| Q3 25 | — | 37.4% | ||
| Q2 25 | — | 11.5% | ||
| Q1 25 | — | 12.5% | ||
| Q4 24 | — | 50.5% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | — | -36.3% | ||
| Q1 24 | — | 33.8% |
| Q4 25 | — | 17.9% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 4.1% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 8.3% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | 3.0% |
| Q4 25 | — | 3.04× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.79× | ||
| Q4 24 | — | 3.07× | ||
| Q3 24 | — | 1.17× | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.04× | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
