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Side-by-side financial comparison of iQSTEL Inc (IQST) 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 $84.2M, roughly 1.2× iQSTEL Inc). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -3.2%, a 42.0% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs -14.9%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-1.2M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 12.5%).
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
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.
IQST vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $84.2M | $104.0M |
| Net Profit | $-2.7M | $40.3M |
| Gross Margin | 3.5% | — |
| Operating Margin | -2.9% | 48.3% |
| Net Margin | -3.2% | 38.8% |
| Revenue YoY | -14.9% | 12.5% |
| Net Profit YoY | -44.5% | 16.9% |
| EPS (diluted) | $-0.92 | $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 | $84.2M | $104.0M | ||
| Q3 25 | $102.9M | $102.9M | ||
| Q2 25 | $72.2M | $95.7M | ||
| Q1 25 | $57.6M | $89.4M | ||
| Q4 24 | $98.9M | $92.4M | ||
| Q3 24 | $54.2M | $90.7M | ||
| Q2 24 | $78.6M | $85.0M | ||
| Q1 24 | $51.4M | $82.2M |
| Q4 25 | $-2.7M | $40.3M | ||
| Q3 25 | $-2.3M | $41.7M | ||
| Q2 25 | $-2.3M | $36.0M | ||
| Q1 25 | $-1.1M | $32.6M | ||
| Q4 24 | $-1.9M | $34.5M | ||
| Q3 24 | $-773.0K | $32.5M | ||
| Q2 24 | $-2.0M | $29.3M | ||
| Q1 24 | $-580.2K | $27.8M |
| Q4 25 | 3.5% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | -2.9% | 48.3% | ||
| Q3 25 | -0.5% | 50.4% | ||
| Q2 25 | -0.9% | 46.8% | ||
| Q1 25 | -1.0% | 44.9% | ||
| Q4 24 | -0.3% | 46.8% | ||
| Q3 24 | -0.1% | 45.0% | ||
| Q2 24 | -0.4% | 43.3% | ||
| Q1 24 | -0.4% | 41.8% |
| Q4 25 | -3.2% | 38.8% | ||
| Q3 25 | -2.3% | 40.6% | ||
| Q2 25 | -3.3% | 37.6% | ||
| Q1 25 | -2.0% | 36.4% | ||
| Q4 24 | -1.9% | 37.3% | ||
| Q3 24 | -1.4% | 35.8% | ||
| Q2 24 | -2.5% | 34.5% | ||
| Q1 24 | -1.1% | 33.8% |
| Q4 25 | $-0.92 | $2.63 | ||
| Q3 25 | $-0.68 | $2.73 | ||
| Q2 25 | $-0.82 | $2.34 | ||
| Q1 25 | $-0.44 | $2.08 | ||
| Q4 24 | $-1.19 | $2.21 | ||
| Q3 24 | $-0.40 | $2.10 | ||
| Q2 24 | $-0.90 | $1.92 | ||
| Q1 24 | $-0.37 | $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 | $2.2M | — |
| Total DebtLower is stronger | $4.1M | $134.9M |
| Stockholders' EquityBook value | $16.3M | $1.3B |
| Total Assets | $51.1M | $9.2B |
| Debt / EquityLower = less leverage | 0.25× | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | — | ||
| Q3 25 | $2.3M | — | ||
| Q2 25 | $2.0M | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $2.5M | — | ||
| Q3 24 | $2.1M | — | ||
| Q2 24 | $797.2K | — | ||
| Q1 24 | $2.7M | — |
| Q4 25 | $4.1M | $134.9M | ||
| Q3 25 | $2.7M | $134.6M | ||
| Q2 25 | $4.5M | $134.3M | ||
| Q1 25 | $3.5M | $156.6M | ||
| Q4 24 | $2.5M | $161.4M | ||
| Q3 24 | $3.2M | $161.2M | ||
| Q2 24 | $2.5M | $162.4M | ||
| Q1 24 | $194.0K | $162.3M |
| Q4 25 | $16.3M | $1.3B | ||
| Q3 25 | $17.9M | $1.2B | ||
| Q2 25 | $14.3M | $1.2B | ||
| Q1 25 | $11.6M | $1.2B | ||
| Q4 24 | $11.9M | $1.2B | ||
| Q3 24 | $8.1M | $1.1B | ||
| Q2 24 | $7.6M | $1.1B | ||
| Q1 24 | $8.4M | $1.1B |
| Q4 25 | $51.1M | $9.2B | ||
| Q3 25 | $46.9M | $9.0B | ||
| Q2 25 | $51.4M | $8.9B | ||
| Q1 25 | $42.0M | $9.0B | ||
| Q4 24 | $79.0M | $8.8B | ||
| Q3 24 | $32.4M | $8.6B | ||
| Q2 24 | $30.0M | $8.6B | ||
| Q1 24 | $22.1M | $8.4B |
| Q4 25 | 0.25× | 0.11× | ||
| Q3 25 | 0.15× | 0.11× | ||
| Q2 25 | 0.31× | 0.11× | ||
| Q1 25 | 0.31× | 0.13× | ||
| Q4 24 | 0.21× | 0.14× | ||
| Q3 24 | 0.40× | 0.14× | ||
| Q2 24 | 0.34× | 0.15× | ||
| Q1 24 | 0.02× | 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 | $-1.2M | $153.5M |
| Free Cash FlowOCF − Capex | $-1.2M | $149.4M |
| FCF MarginFCF / Revenue | -1.5% | 143.7% |
| Capex IntensityCapex / Revenue | 0.0% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-4.0M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2M | $153.5M | ||
| Q3 25 | $-953.0K | $45.9M | ||
| Q2 25 | $257.7K | $38.9M | ||
| Q1 25 | $-1.9M | $41.8M | ||
| Q4 24 | $-403.7K | $133.7M | ||
| Q3 24 | $625.0K | $39.6M | ||
| Q2 24 | $-2.6M | $37.3M | ||
| Q1 24 | $-536.9K | $23.4M |
| Q4 25 | $-1.2M | $149.4M | ||
| Q3 25 | $-969.2K | $45.9M | ||
| Q2 25 | $211.7K | $38.4M | ||
| Q1 25 | $-2.0M | $41.3M | ||
| Q4 24 | $-421.3K | $116.8M | ||
| Q3 24 | $594.5K | $34.7M | ||
| Q2 24 | $-2.6M | $34.4M | ||
| Q1 24 | $-608.5K | $20.1M |
| Q4 25 | -1.5% | 143.7% | ||
| Q3 25 | -0.9% | 44.6% | ||
| Q2 25 | 0.3% | 40.1% | ||
| Q1 25 | -3.4% | 46.2% | ||
| Q4 24 | -0.4% | 126.4% | ||
| Q3 24 | 1.1% | 38.3% | ||
| Q2 24 | -3.4% | 40.5% | ||
| Q1 24 | -1.2% | 24.4% |
| Q4 25 | 0.0% | 3.9% | ||
| Q3 25 | 0.0% | 0.0% | ||
| Q2 25 | 0.1% | 0.6% | ||
| Q1 25 | 0.1% | 0.5% | ||
| Q4 24 | 0.0% | 18.3% | ||
| Q3 24 | 0.1% | 5.4% | ||
| Q2 24 | 0.0% | 3.5% | ||
| Q1 24 | 0.1% | 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
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
NIC
Segment breakdown not available.
