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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and NICOLET BANKSHARES INC (NIC). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $104.0M, roughly 1.5× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs 4.7%, a 34.0% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-2.2M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs NIC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $104.0M |
| Net Profit | $7.6M | $40.3M |
| Gross Margin | 11.3% | — |
| Operating Margin | 6.0% | 48.3% |
| Net Margin | 4.7% | 38.8% |
| Revenue YoY | 23.3% | 12.5% |
| Net Profit YoY | 602.4% | 16.9% |
| EPS (diluted) | $0.39 | $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 | $159.9M | $104.0M | ||
| Q3 25 | $177.4M | $102.9M | ||
| Q2 25 | $179.9M | $95.7M | ||
| Q1 25 | $160.7M | $89.4M | ||
| Q4 24 | $129.7M | $92.4M | ||
| Q3 24 | $134.3M | $90.7M | ||
| Q2 24 | $145.8M | $85.0M | ||
| Q1 24 | $127.4M | $82.2M |
| Q4 25 | $7.6M | $40.3M | ||
| Q3 25 | $14.6M | $41.7M | ||
| Q2 25 | $15.2M | $36.0M | ||
| Q1 25 | $10.2M | $32.6M | ||
| Q4 24 | $1.1M | $34.5M | ||
| Q3 24 | $4.7M | $32.5M | ||
| Q2 24 | $6.6M | $29.3M | ||
| Q1 24 | $6.9M | $27.8M |
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | 12.3% | — |
| Q4 25 | 6.0% | 48.3% | ||
| Q3 25 | 10.8% | 50.4% | ||
| Q2 25 | 11.0% | 46.8% | ||
| Q1 25 | 8.3% | 44.9% | ||
| Q4 24 | 1.1% | 46.8% | ||
| Q3 24 | 4.5% | 45.0% | ||
| Q2 24 | 6.0% | 43.3% | ||
| Q1 24 | 7.0% | 41.8% |
| Q4 25 | 4.7% | 38.8% | ||
| Q3 25 | 8.2% | 40.6% | ||
| Q2 25 | 8.4% | 37.6% | ||
| Q1 25 | 6.4% | 36.4% | ||
| Q4 24 | 0.8% | 37.3% | ||
| Q3 24 | 3.5% | 35.8% | ||
| Q2 24 | 4.5% | 34.5% | ||
| Q1 24 | 5.4% | 33.8% |
| Q4 25 | $0.39 | $2.63 | ||
| Q3 25 | $0.74 | $2.73 | ||
| Q2 25 | $0.78 | $2.34 | ||
| Q1 25 | $0.52 | $2.08 | ||
| Q4 24 | $0.06 | $2.21 | ||
| Q3 24 | $0.24 | $2.10 | ||
| Q2 24 | $0.34 | $1.92 | ||
| Q1 24 | $0.35 | $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 | $15.6M | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $358.8M | $1.3B |
| Total Assets | $456.1M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | — | ||
| Q3 25 | $38.6M | — | ||
| Q2 25 | $53.7M | — | ||
| Q1 25 | $28.4M | — | ||
| Q4 24 | $36.0M | — | ||
| Q3 24 | $111.5M | — | ||
| Q2 24 | $97.7M | — | ||
| Q1 24 | $83.9M | — |
| 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 | $358.8M | $1.3B | ||
| Q3 25 | $371.5M | $1.2B | ||
| Q2 25 | $356.2M | $1.2B | ||
| Q1 25 | $341.4M | $1.2B | ||
| Q4 24 | $331.6M | $1.2B | ||
| Q3 24 | $350.9M | $1.1B | ||
| Q2 24 | $346.0M | $1.1B | ||
| Q1 24 | $340.6M | $1.1B |
| Q4 25 | $456.1M | $9.2B | ||
| Q3 25 | $462.6M | $9.0B | ||
| Q2 25 | $471.9M | $8.9B | ||
| Q1 25 | $421.9M | $9.0B | ||
| Q4 24 | $404.7M | $8.8B | ||
| Q3 24 | $422.6M | $8.6B | ||
| Q2 24 | $414.6M | $8.6B | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $153.5M |
| Free Cash FlowOCF − Capex | $-2.2M | $149.4M |
| FCF MarginFCF / Revenue | -1.4% | 143.7% |
| Capex IntensityCapex / Revenue | 0.9% | 3.9% |
| Cash ConversionOCF / Net Profit | -0.09× | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $153.5M | ||
| Q3 25 | $-17.0M | $45.9M | ||
| Q2 25 | $28.5M | $38.9M | ||
| Q1 25 | $-3.3M | $41.8M | ||
| Q4 24 | $19.0M | $133.7M | ||
| Q3 24 | $16.2M | $39.6M | ||
| Q2 24 | $18.8M | $37.3M | ||
| Q1 24 | $1.4M | $23.4M |
| Q4 25 | $-2.2M | $149.4M | ||
| Q3 25 | $-18.7M | $45.9M | ||
| Q2 25 | $26.9M | $38.4M | ||
| Q1 25 | $-5.5M | $41.3M | ||
| Q4 24 | $16.3M | $116.8M | ||
| Q3 24 | $14.5M | $34.7M | ||
| Q2 24 | $15.5M | $34.4M | ||
| Q1 24 | $-580.0K | $20.1M |
| Q4 25 | -1.4% | 143.7% | ||
| Q3 25 | -10.6% | 44.6% | ||
| Q2 25 | 15.0% | 40.1% | ||
| Q1 25 | -3.5% | 46.2% | ||
| Q4 24 | 12.6% | 126.4% | ||
| Q3 24 | 10.8% | 38.3% | ||
| Q2 24 | 10.7% | 40.5% | ||
| Q1 24 | -0.5% | 24.4% |
| Q4 25 | 0.9% | 3.9% | ||
| Q3 25 | 1.0% | 0.0% | ||
| Q2 25 | 0.9% | 0.6% | ||
| Q1 25 | 1.4% | 0.5% | ||
| Q4 24 | 2.1% | 18.3% | ||
| Q3 24 | 1.3% | 5.4% | ||
| Q2 24 | 2.2% | 3.5% | ||
| Q1 24 | 1.5% | 4.0% |
| Q4 25 | -0.09× | 3.81× | ||
| Q3 25 | -1.17× | 1.10× | ||
| Q2 25 | 1.88× | 1.08× | ||
| Q1 25 | -0.32× | 1.28× | ||
| Q4 24 | 17.56× | 3.88× | ||
| Q3 24 | 3.48× | 1.22× | ||
| Q2 24 | 2.86× | 1.28× | ||
| Q1 24 | 0.20× | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
NIC
Segment breakdown not available.
