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Side-by-side financial comparison of IonQ, Inc. (IONQ) 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 $61.9M, roughly 1.7× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 38.8%, a 1179.0% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-83.3M).
IonQ, Inc. is an American quantum computing hardware and software company headquartered in College Park, Maryland. The company develops general-purpose trapped ion quantum computers and accompanying software to generate, optimize, and execute quantum circuits.
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.
IONQ vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $104.0M |
| Net Profit | $753.7M | $40.3M |
| Gross Margin | — | — |
| Operating Margin | -369.4% | 48.3% |
| Net Margin | 1217.8% | 38.8% |
| Revenue YoY | 428.5% | 12.5% |
| Net Profit YoY | 473.1% | 16.9% |
| EPS (diluted) | $2.60 | $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 | $61.9M | $104.0M | ||
| Q3 25 | $39.9M | $102.9M | ||
| Q2 25 | $20.7M | $95.7M | ||
| Q1 25 | — | $89.4M | ||
| Q4 24 | $11.7M | $92.4M | ||
| Q3 24 | $12.4M | $90.7M | ||
| Q2 24 | $11.4M | $85.0M | ||
| Q1 24 | — | $82.2M |
| Q4 25 | $753.7M | $40.3M | ||
| Q3 25 | $-1.1B | $41.7M | ||
| Q2 25 | $-176.8M | $36.0M | ||
| Q1 25 | — | $32.6M | ||
| Q4 24 | $-202.0M | $34.5M | ||
| Q3 24 | $-52.5M | $32.5M | ||
| Q2 24 | $-37.6M | $29.3M | ||
| Q1 24 | — | $27.8M |
| Q4 25 | -369.4% | 48.3% | ||
| Q3 25 | -423.5% | 50.4% | ||
| Q2 25 | -776.0% | 46.8% | ||
| Q1 25 | — | 44.9% | ||
| Q4 24 | -661.9% | 46.8% | ||
| Q3 24 | -428.5% | 45.0% | ||
| Q2 24 | -430.0% | 43.3% | ||
| Q1 24 | — | 41.8% |
| Q4 25 | 1217.8% | 38.8% | ||
| Q3 25 | -2646.3% | 40.6% | ||
| Q2 25 | -854.5% | 37.6% | ||
| Q1 25 | — | 36.4% | ||
| Q4 24 | -1725.0% | 37.3% | ||
| Q3 24 | -423.4% | 35.8% | ||
| Q2 24 | -330.0% | 34.5% | ||
| Q1 24 | — | 33.8% |
| Q4 25 | $2.60 | $2.63 | ||
| Q3 25 | $-3.58 | $2.73 | ||
| Q2 25 | $-0.70 | $2.34 | ||
| Q1 25 | — | $2.08 | ||
| Q4 24 | $-0.95 | $2.21 | ||
| Q3 24 | $-0.24 | $2.10 | ||
| Q2 24 | $-0.18 | $1.92 | ||
| Q1 24 | — | $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 | $2.4B | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $3.8B | $1.3B |
| Total Assets | $6.6B | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $340.3M | — | ||
| Q3 24 | $365.7M | — | ||
| Q2 24 | $369.8M | — | ||
| Q1 24 | — | — |
| 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 | $3.8B | $1.3B | ||
| Q3 25 | $2.3B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $383.9M | $1.2B | ||
| Q3 24 | $435.7M | $1.1B | ||
| Q2 24 | $463.3M | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $6.6B | $9.2B | ||
| Q3 25 | $4.3B | $9.0B | ||
| Q2 25 | $1.3B | $8.9B | ||
| Q1 25 | — | $9.0B | ||
| Q4 24 | $508.4M | $8.8B | ||
| Q3 24 | $497.9M | $8.6B | ||
| Q2 24 | $517.4M | $8.6B | ||
| Q1 24 | — | $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 | $-74.5M | $153.5M |
| Free Cash FlowOCF − Capex | $-83.3M | $149.4M |
| FCF MarginFCF / Revenue | -134.6% | 143.7% |
| Capex IntensityCapex / Revenue | 14.2% | 3.9% |
| Cash ConversionOCF / Net Profit | -0.10× | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $153.5M | ||
| Q3 25 | $-123.1M | $45.9M | ||
| Q2 25 | $-52.6M | $38.9M | ||
| Q1 25 | — | $41.8M | ||
| Q4 24 | $-39.4M | $133.7M | ||
| Q3 24 | $-19.2M | $39.6M | ||
| Q2 24 | $-26.6M | $37.3M | ||
| Q1 24 | — | $23.4M |
| Q4 25 | $-83.3M | $149.4M | ||
| Q3 25 | $-127.2M | $45.9M | ||
| Q2 25 | $-53.8M | $38.4M | ||
| Q1 25 | — | $41.3M | ||
| Q4 24 | $-43.0M | $116.8M | ||
| Q3 24 | $-23.0M | $34.7M | ||
| Q2 24 | $-34.1M | $34.4M | ||
| Q1 24 | — | $20.1M |
| Q4 25 | -134.6% | 143.7% | ||
| Q3 25 | -319.1% | 44.6% | ||
| Q2 25 | -259.8% | 40.1% | ||
| Q1 25 | — | 46.2% | ||
| Q4 24 | -367.4% | 126.4% | ||
| Q3 24 | -185.3% | 38.3% | ||
| Q2 24 | -299.3% | 40.5% | ||
| Q1 24 | — | 24.4% |
| Q4 25 | 14.2% | 3.9% | ||
| Q3 25 | 10.4% | 0.0% | ||
| Q2 25 | 5.8% | 0.6% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | 30.7% | 18.3% | ||
| Q3 24 | 30.4% | 5.4% | ||
| Q2 24 | 65.8% | 3.5% | ||
| Q1 24 | — | 4.0% |
| Q4 25 | -0.10× | 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
IONQ
| Other | $31.2M | 50% |
| Platform Consulting And Support Services | $30.7M | 50% |
NIC
Segment breakdown not available.
