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Side-by-side financial comparison of Inogen Inc (INGN) 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 $68.6M, roughly 1.5× Inogen Inc). On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs 3.4%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-1.9M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs 4.2%).
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
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.
INGN vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $68.6M | $104.0M |
| Net Profit | — | $40.3M |
| Gross Margin | 51.4% | — |
| Operating Margin | -13.6% | 48.3% |
| Net Margin | — | 38.8% |
| Revenue YoY | 3.4% | 12.5% |
| Net Profit YoY | — | 16.9% |
| EPS (diluted) | $-0.26 | $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 | $68.6M | $104.0M | ||
| Q3 25 | $79.1M | $102.9M | ||
| Q2 25 | $79.2M | $95.7M | ||
| Q1 25 | $68.5M | $89.4M | ||
| Q4 24 | $66.3M | $92.4M | ||
| Q3 24 | $74.9M | $90.7M | ||
| Q2 24 | $74.4M | $85.0M | ||
| Q1 24 | $63.1M | $82.2M |
| Q4 25 | — | $40.3M | ||
| Q3 25 | $-5.3M | $41.7M | ||
| Q2 25 | $-4.2M | $36.0M | ||
| Q1 25 | $-6.2M | $32.6M | ||
| Q4 24 | — | $34.5M | ||
| Q3 24 | $-6.0M | $32.5M | ||
| Q2 24 | $-5.6M | $29.3M | ||
| Q1 24 | $-14.6M | $27.8M |
| Q4 25 | 51.4% | — | ||
| Q3 25 | 52.2% | — | ||
| Q2 25 | 52.2% | — | ||
| Q1 25 | 53.1% | — | ||
| Q4 24 | 54.7% | — | ||
| Q3 24 | 55.2% | — | ||
| Q2 24 | 57.4% | — | ||
| Q1 24 | 54.5% | — |
| Q4 25 | -13.6% | 48.3% | ||
| Q3 25 | -9.0% | 50.4% | ||
| Q2 25 | -7.7% | 46.8% | ||
| Q1 25 | -11.2% | 44.9% | ||
| Q4 24 | -17.2% | 46.8% | ||
| Q3 24 | -10.4% | 45.0% | ||
| Q2 24 | -9.5% | 43.3% | ||
| Q1 24 | -25.8% | 41.8% |
| Q4 25 | — | 38.8% | ||
| Q3 25 | -6.7% | 40.6% | ||
| Q2 25 | -5.2% | 37.6% | ||
| Q1 25 | -9.0% | 36.4% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | -8.0% | 35.8% | ||
| Q2 24 | -7.5% | 34.5% | ||
| Q1 24 | -23.1% | 33.8% |
| Q4 25 | $-0.26 | $2.63 | ||
| Q3 25 | $-0.20 | $2.73 | ||
| Q2 25 | $-0.15 | $2.34 | ||
| Q1 25 | $-0.25 | $2.08 | ||
| Q4 24 | $-0.41 | $2.21 | ||
| Q3 24 | $-0.25 | $2.10 | ||
| Q2 24 | $-0.24 | $1.92 | ||
| Q1 24 | $-0.62 | $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 | $103.7M | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $192.2M | $1.3B |
| Total Assets | $298.6M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $103.7M | — | ||
| Q3 25 | $106.5M | — | ||
| Q2 25 | $103.7M | — | ||
| Q1 25 | $118.9M | — | ||
| Q4 24 | $113.8M | — | ||
| Q3 24 | $105.7M | — | ||
| Q2 24 | $97.9M | — | ||
| Q1 24 | $107.4M | — |
| 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 | $192.2M | $1.3B | ||
| Q3 25 | $197.2M | $1.2B | ||
| Q2 25 | $199.5M | $1.2B | ||
| Q1 25 | $198.0M | $1.2B | ||
| Q4 24 | $173.9M | $1.2B | ||
| Q3 24 | $185.4M | $1.1B | ||
| Q2 24 | $187.6M | $1.1B | ||
| Q1 24 | $191.9M | $1.1B |
| Q4 25 | $298.6M | $9.2B | ||
| Q3 25 | $307.0M | $9.0B | ||
| Q2 25 | $312.0M | $8.9B | ||
| Q1 25 | $308.4M | $9.0B | ||
| Q4 24 | $296.2M | $8.8B | ||
| Q3 24 | $306.2M | $8.6B | ||
| Q2 24 | $308.9M | $8.6B | ||
| Q1 24 | $315.6M | $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 | $-943.0K | $153.5M |
| Free Cash FlowOCF − Capex | $-1.9M | $149.4M |
| FCF MarginFCF / Revenue | -2.8% | 143.7% |
| Capex IntensityCapex / Revenue | 1.4% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.7M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-943.0K | $153.5M | ||
| Q3 25 | $2.2M | $45.9M | ||
| Q2 25 | $4.3M | $38.9M | ||
| Q1 25 | $-16.8M | $41.8M | ||
| Q4 24 | $-3.0M | $133.7M | ||
| Q3 24 | $7.0M | $39.6M | ||
| Q2 24 | $6.7M | $37.3M | ||
| Q1 24 | $-4.7M | $23.4M |
| Q4 25 | $-1.9M | $149.4M | ||
| Q3 25 | $1.6M | $45.9M | ||
| Q2 25 | $3.7M | $38.4M | ||
| Q1 25 | $-17.1M | $41.3M | ||
| Q4 24 | $-3.3M | $116.8M | ||
| Q3 24 | $5.3M | $34.7M | ||
| Q2 24 | $6.6M | $34.4M | ||
| Q1 24 | $-6.1M | $20.1M |
| Q4 25 | -2.8% | 143.7% | ||
| Q3 25 | 2.0% | 44.6% | ||
| Q2 25 | 4.6% | 40.1% | ||
| Q1 25 | -24.9% | 46.2% | ||
| Q4 24 | -5.0% | 126.4% | ||
| Q3 24 | 7.1% | 38.3% | ||
| Q2 24 | 8.9% | 40.5% | ||
| Q1 24 | -9.6% | 24.4% |
| Q4 25 | 1.4% | 3.9% | ||
| Q3 25 | 0.7% | 0.0% | ||
| Q2 25 | 0.9% | 0.6% | ||
| Q1 25 | 0.4% | 0.5% | ||
| Q4 24 | 0.5% | 18.3% | ||
| Q3 24 | 2.2% | 5.4% | ||
| Q2 24 | 0.1% | 3.5% | ||
| Q1 24 | 2.1% | 4.0% |
| Q4 25 | — | 3.81× | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 3.88× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
NIC
Segment breakdown not available.
