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Side-by-side financial comparison of HEALTHSTREAM INC (HSTM) 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 $79.7M, roughly 1.3× HEALTHSTREAM INC). On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs 7.4%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $13.0M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs 4.7%).
HealthStream Inc is a leading U.S.-based provider of workforce development, compliance, and training solutions tailored for the healthcare industry. It offers cloud-based platforms covering clinical skill training, talent management, patient safety education, and regulatory adherence tools, serving over 4,000 healthcare organizations including hospitals, clinics, and long-term care facilities nationwide.
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.
HSTM vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.7M | $104.0M |
| Net Profit | — | $40.3M |
| Gross Margin | — | — |
| Operating Margin | 3.0% | 48.3% |
| Net Margin | — | 38.8% |
| Revenue YoY | 7.4% | 12.5% |
| Net Profit YoY | — | 16.9% |
| EPS (diluted) | $0.09 | $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 | $79.7M | $104.0M | ||
| Q3 25 | $76.5M | $102.9M | ||
| Q2 25 | $74.4M | $95.7M | ||
| Q1 25 | $73.5M | $89.4M | ||
| Q4 24 | $74.2M | $92.4M | ||
| Q3 24 | $73.1M | $90.7M | ||
| Q2 24 | $71.6M | $85.0M | ||
| Q1 24 | $72.8M | $82.2M |
| Q4 25 | — | $40.3M | ||
| Q3 25 | $6.1M | $41.7M | ||
| Q2 25 | $5.4M | $36.0M | ||
| Q1 25 | $4.3M | $32.6M | ||
| Q4 24 | — | $34.5M | ||
| Q3 24 | $5.7M | $32.5M | ||
| Q2 24 | $4.2M | $29.3M | ||
| Q1 24 | $5.2M | $27.8M |
| Q4 25 | 3.0% | 48.3% | ||
| Q3 25 | 9.9% | 50.4% | ||
| Q2 25 | 7.9% | 46.8% | ||
| Q1 25 | 6.0% | 44.9% | ||
| Q4 24 | 6.3% | 46.8% | ||
| Q3 24 | 8.9% | 45.0% | ||
| Q2 24 | 6.2% | 43.3% | ||
| Q1 24 | 7.8% | 41.8% |
| Q4 25 | — | 38.8% | ||
| Q3 25 | 8.0% | 40.6% | ||
| Q2 25 | 7.2% | 37.6% | ||
| Q1 25 | 5.9% | 36.4% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | 7.8% | 35.8% | ||
| Q2 24 | 5.8% | 34.5% | ||
| Q1 24 | 7.2% | 33.8% |
| Q4 25 | $0.09 | $2.63 | ||
| Q3 25 | $0.20 | $2.73 | ||
| Q2 25 | $0.18 | $2.34 | ||
| Q1 25 | $0.14 | $2.08 | ||
| Q4 24 | $0.16 | $2.21 | ||
| Q3 24 | $0.19 | $2.10 | ||
| Q2 24 | $0.14 | $1.92 | ||
| Q1 24 | $0.17 | $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 | $36.2M | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $354.0M | $1.3B |
| Total Assets | $520.4M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.2M | — | ||
| Q3 25 | $53.5M | — | ||
| Q2 25 | $52.1M | — | ||
| Q1 25 | $77.3M | — | ||
| Q4 24 | $59.5M | — | ||
| Q3 24 | $57.5M | — | ||
| Q2 24 | $46.1M | — | ||
| Q1 24 | $52.4M | — |
| 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 | $354.0M | $1.3B | ||
| Q3 25 | $349.2M | $1.2B | ||
| Q2 25 | $350.6M | $1.2B | ||
| Q1 25 | $362.8M | $1.2B | ||
| Q4 24 | $359.4M | $1.2B | ||
| Q3 24 | $355.5M | $1.1B | ||
| Q2 24 | $349.2M | $1.1B | ||
| Q1 24 | $344.9M | $1.1B |
| Q4 25 | $520.4M | $9.2B | ||
| Q3 25 | $499.9M | $9.0B | ||
| Q2 25 | $500.1M | $8.9B | ||
| Q1 25 | $524.0M | $9.0B | ||
| Q4 24 | $510.8M | $8.8B | ||
| Q3 24 | $502.8M | $8.6B | ||
| Q2 24 | $499.6M | $8.6B | ||
| Q1 24 | $511.6M | $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 | $13.2M | $153.5M |
| Free Cash FlowOCF − Capex | $13.0M | $149.4M |
| FCF MarginFCF / Revenue | 16.3% | 143.7% |
| Capex IntensityCapex / Revenue | 0.3% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.2M | $153.5M | ||
| Q3 25 | $18.0M | $45.9M | ||
| Q2 25 | $5.0M | $38.9M | ||
| Q1 25 | $27.1M | $41.8M | ||
| Q4 24 | $11.2M | $133.7M | ||
| Q3 24 | $19.1M | $39.6M | ||
| Q2 24 | $6.5M | $37.3M | ||
| Q1 24 | $20.9M | $23.4M |
| Q4 25 | $13.0M | $149.4M | ||
| Q3 25 | $17.9M | $45.9M | ||
| Q2 25 | $2.7M | $38.4M | ||
| Q1 25 | $26.0M | $41.3M | ||
| Q4 24 | $11.0M | $116.8M | ||
| Q3 24 | $18.8M | $34.7M | ||
| Q2 24 | $6.3M | $34.4M | ||
| Q1 24 | $20.2M | $20.1M |
| Q4 25 | 16.3% | 143.7% | ||
| Q3 25 | 23.4% | 44.6% | ||
| Q2 25 | 3.6% | 40.1% | ||
| Q1 25 | 35.4% | 46.2% | ||
| Q4 24 | 14.8% | 126.4% | ||
| Q3 24 | 25.8% | 38.3% | ||
| Q2 24 | 8.8% | 40.5% | ||
| Q1 24 | 27.8% | 24.4% |
| Q4 25 | 0.3% | 3.9% | ||
| Q3 25 | 0.1% | 0.0% | ||
| Q2 25 | 3.1% | 0.6% | ||
| Q1 25 | 1.4% | 0.5% | ||
| Q4 24 | 0.3% | 18.3% | ||
| Q3 24 | 0.4% | 5.4% | ||
| Q2 24 | 0.2% | 3.5% | ||
| Q1 24 | 1.0% | 4.0% |
| Q4 25 | — | 3.81× | ||
| Q3 25 | 2.96× | 1.10× | ||
| Q2 25 | 0.93× | 1.08× | ||
| Q1 25 | 6.25× | 1.28× | ||
| Q4 24 | — | 3.88× | ||
| Q3 24 | 3.34× | 1.22× | ||
| Q2 24 | 1.55× | 1.28× | ||
| Q1 24 | 4.01× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
NIC
Segment breakdown not available.
