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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and NATIONAL BANKSHARES INC (NKSH). Click either name above to swap in a different company.
FGI Industries Ltd. is the larger business by last-quarter revenue ($30.5M vs $15.3M, roughly 2.0× NATIONAL BANKSHARES INC). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs -8.6%, a 47.1% gap on every dollar of revenue. On growth, NATIONAL BANKSHARES INC posted the faster year-over-year revenue change (24.7% vs -14.4%). NATIONAL BANKSHARES INC produced more free cash flow last quarter ($15.2M vs $2.3M). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs -0.5%).
FGI Industries Ltd is a global designer, manufacturer and distributor of kitchen and bath products, home organization solutions, and home improvement goods. It serves major retail chains, home specialty stores and e-commerce platforms across North America, Europe and the Asia-Pacific region.
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.
FGI vs NKSH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $15.3M |
| Net Profit | $-2.6M | $5.9M |
| Gross Margin | 26.7% | — |
| Operating Margin | -2.2% | 47.4% |
| Net Margin | -8.6% | 38.5% |
| Revenue YoY | -14.4% | 24.7% |
| Net Profit YoY | -553.1% | 91.0% |
| EPS (diluted) | $-1.63 | $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 | $30.5M | $15.3M | ||
| Q3 25 | $35.8M | $14.2M | ||
| Q2 25 | $31.0M | $13.3M | ||
| Q1 25 | $33.2M | $12.8M | ||
| Q4 24 | $35.6M | $12.2M | ||
| Q3 24 | $36.1M | $11.7M | ||
| Q2 24 | $29.4M | $10.9M | ||
| Q1 24 | $30.8M | $10.4M |
| Q4 25 | $-2.6M | $5.9M | ||
| Q3 25 | $-1.7M | $4.4M | ||
| Q2 25 | $-1.2M | $2.3M | ||
| Q1 25 | $-629.1K | $3.2M | ||
| Q4 24 | $-402.3K | $3.1M | ||
| Q3 24 | $-550.1K | $2.7M | ||
| Q2 24 | $163.6K | $-307.0K | ||
| Q1 24 | $-412.2K | $2.2M |
| Q4 25 | 26.7% | — | ||
| Q3 25 | 26.5% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 26.8% | — | ||
| Q4 24 | 24.6% | — | ||
| Q3 24 | 25.8% | — | ||
| Q2 24 | 30.5% | — | ||
| Q1 24 | 27.4% | — |
| Q4 25 | -2.2% | 47.4% | ||
| Q3 25 | 1.0% | 37.9% | ||
| Q2 25 | -2.7% | 20.0% | ||
| Q1 25 | -3.9% | 30.5% | ||
| Q4 24 | -3.5% | 30.1% | ||
| Q3 24 | -0.2% | 27.5% | ||
| Q2 24 | -1.5% | -4.4% | ||
| Q1 24 | -1.0% | 25.8% |
| Q4 25 | -8.6% | 38.5% | ||
| Q3 25 | -4.6% | 31.1% | ||
| Q2 25 | -4.0% | 17.2% | ||
| Q1 25 | -1.9% | 25.3% | ||
| Q4 24 | -1.1% | 25.1% | ||
| Q3 24 | -1.5% | 22.8% | ||
| Q2 24 | 0.6% | -2.8% | ||
| Q1 24 | -1.3% | 20.8% |
| Q4 25 | $-1.63 | $0.93 | ||
| Q3 25 | $-0.86 | $0.69 | ||
| Q2 25 | $-0.64 | $0.36 | ||
| Q1 25 | $-0.07 | $0.51 | ||
| Q4 24 | $-0.38 | $0.50 | ||
| Q3 24 | $-0.29 | $0.42 | ||
| Q2 24 | $0.08 | $-0.05 | ||
| Q1 24 | $-0.04 | $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 | $1.9M | $59.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $184.9M |
| Total Assets | $69.5M | $1.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $59.3M | ||
| Q3 25 | $1.9M | $42.3M | ||
| Q2 25 | $2.5M | $92.8M | ||
| Q1 25 | $1.2M | $122.5M | ||
| Q4 24 | $4.6M | $108.1M | ||
| Q3 24 | $3.0M | $49.8M | ||
| Q2 24 | $1.3M | $98.9M | ||
| Q1 24 | $3.3M | $121.2M |
| Q4 25 | $17.3M | $184.9M | ||
| Q3 25 | $19.7M | $179.2M | ||
| Q2 25 | $21.3M | $168.7M | ||
| Q1 25 | $21.8M | $167.3M | ||
| Q4 24 | $22.3M | $156.4M | ||
| Q3 24 | $23.5M | $167.8M | ||
| Q2 24 | $23.8M | $149.0M | ||
| Q1 24 | $23.9M | $139.4M |
| Q4 25 | $69.5M | $1.8B | ||
| Q3 25 | $73.0M | $1.8B | ||
| Q2 25 | $71.7M | $1.8B | ||
| Q1 25 | $68.5M | $1.8B | ||
| Q4 24 | $75.5M | $1.8B | ||
| Q3 24 | $74.7M | $1.8B | ||
| Q2 24 | $69.9M | $1.8B | ||
| Q1 24 | $68.6M | $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 | $2.3M | $17.9M |
| Free Cash FlowOCF − Capex | $2.3M | $15.2M |
| FCF MarginFCF / Revenue | 7.5% | 99.2% |
| Capex IntensityCapex / Revenue | 0.2% | 17.9% |
| Cash ConversionOCF / Net Profit | — | 3.04× |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | $23.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $17.9M | ||
| Q3 25 | $-1.9M | $6.1M | ||
| Q2 25 | $7.6M | $2.1M | ||
| Q1 25 | $-7.4M | $2.6M | ||
| Q4 24 | $617.4K | $9.4M | ||
| Q3 24 | $-915.0K | $3.1M | ||
| Q2 24 | $862.1K | $-3.0M | ||
| Q1 24 | $-8.0M | $3.8M |
| Q4 25 | $2.3M | $15.2M | ||
| Q3 25 | $-2.1M | $5.3M | ||
| Q2 25 | $7.4M | $1.5M | ||
| Q1 25 | $-7.7M | $1.6M | ||
| Q4 24 | $-214.1K | $6.2M | ||
| Q3 24 | $-1.1M | $2.2M | ||
| Q2 24 | $281.5K | $-4.0M | ||
| Q1 24 | $-8.6M | $3.5M |
| Q4 25 | 7.5% | 99.2% | ||
| Q3 25 | -5.9% | 37.4% | ||
| Q2 25 | 23.8% | 11.5% | ||
| Q1 25 | -23.3% | 12.5% | ||
| Q4 24 | -0.6% | 50.5% | ||
| Q3 24 | -3.0% | 18.5% | ||
| Q2 24 | 1.0% | -36.3% | ||
| Q1 24 | -28.0% | 33.8% |
| Q4 25 | 0.2% | 17.9% | ||
| Q3 25 | 0.7% | 5.6% | ||
| Q2 25 | 0.7% | 4.1% | ||
| Q1 25 | 1.1% | 7.5% | ||
| Q4 24 | 2.3% | 26.6% | ||
| Q3 24 | 0.5% | 8.3% | ||
| Q2 24 | 2.0% | 9.3% | ||
| Q1 24 | 2.0% | 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 | 5.27× | — | ||
| Q1 24 | — | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FGI
| Sanitaryware | $19.1M | 63% |
| Shower System | $5.8M | 19% |
| Kitchen And Bath Other | $3.3M | 11% |
| Bath Furniture Products | $2.3M | 7% |
NKSH
Segment breakdown not available.
