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Side-by-side financial comparison of Laird Superfood, Inc. (LSF) and NATIONAL BANKSHARES INC (NKSH). Click either name above to swap in a different company.

NATIONAL BANKSHARES INC is the larger business by last-quarter revenue ($15.3M vs $13.3M, roughly 1.1× Laird Superfood, Inc.). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs -13.2%, a 51.7% gap on every dollar of revenue. On growth, NATIONAL BANKSHARES INC posted the faster year-over-year revenue change (24.7% vs 15.0%). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs 16.1%).

Laird Superfood, Inc. develops, manufactures and sells a portfolio of plant-based functional superfood products, including premium coffee creamers, hydration blends, nutritional supplements, and plant-powered snacks. It serves health-conscious consumers through direct-to-consumer e-commerce platforms and offline retail partners, mainly operating in the North American market with a focus on sustainably sourced clean ingredients.

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.

LSF vs NKSH — Head-to-Head

Bigger by revenue
NKSH
NKSH
1.1× larger
NKSH
$15.3M
$13.3M
LSF
Growing faster (revenue YoY)
NKSH
NKSH
+9.7% gap
NKSH
24.7%
15.0%
LSF
Higher net margin
NKSH
NKSH
51.7% more per $
NKSH
38.5%
-13.2%
LSF
Faster 2-yr revenue CAGR
NKSH
NKSH
Annualised
NKSH
20.9%
16.1%
LSF

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
LSF
LSF
NKSH
NKSH
Revenue
$13.3M
$15.3M
Net Profit
$-1.8M
$5.9M
Gross Margin
34.1%
Operating Margin
-13.5%
47.4%
Net Margin
-13.2%
38.5%
Revenue YoY
15.0%
24.7%
Net Profit YoY
-341.4%
91.0%
EPS (diluted)
$0.93

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.

Revenue
LSF
LSF
NKSH
NKSH
Q4 25
$13.3M
$15.3M
Q3 25
$12.9M
$14.2M
Q2 25
$12.0M
$13.3M
Q1 25
$11.7M
$12.8M
Q4 24
$11.6M
$12.2M
Q3 24
$11.8M
$11.7M
Q2 24
$10.0M
$10.9M
Q1 24
$9.9M
$10.4M
Net Profit
LSF
LSF
NKSH
NKSH
Q4 25
$-1.8M
$5.9M
Q3 25
$-975.1K
$4.4M
Q2 25
$-362.2K
$2.3M
Q1 25
$-156.2K
$3.2M
Q4 24
$-398.4K
$3.1M
Q3 24
$-166.1K
$2.7M
Q2 24
$-239.1K
$-307.0K
Q1 24
$-1.0M
$2.2M
Gross Margin
LSF
LSF
NKSH
NKSH
Q4 25
34.1%
Q3 25
36.5%
Q2 25
39.9%
Q1 25
41.9%
Q4 24
38.6%
Q3 24
43.0%
Q2 24
41.8%
Q1 24
40.0%
Operating Margin
LSF
LSF
NKSH
NKSH
Q4 25
-13.5%
47.4%
Q3 25
-7.7%
37.9%
Q2 25
-3.3%
20.0%
Q1 25
-1.9%
30.5%
Q4 24
-4.1%
30.1%
Q3 24
-2.3%
27.5%
Q2 24
-3.4%
-4.4%
Q1 24
-11.0%
25.8%
Net Margin
LSF
LSF
NKSH
NKSH
Q4 25
-13.2%
38.5%
Q3 25
-7.6%
31.1%
Q2 25
-3.0%
17.2%
Q1 25
-1.3%
25.3%
Q4 24
-3.4%
25.1%
Q3 24
-1.4%
22.8%
Q2 24
-2.4%
-2.8%
Q1 24
-10.3%
20.8%
EPS (diluted)
LSF
LSF
NKSH
NKSH
Q4 25
$0.93
Q3 25
$0.69
Q2 25
$0.36
Q1 25
$0.51
Q4 24
$0.50
Q3 24
$0.42
Q2 24
$-0.05
Q1 24
$0.37

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
LSF
LSF
NKSH
NKSH
Cash + ST InvestmentsLiquidity on hand
$5.1M
$59.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$11.5M
$184.9M
Total Assets
$19.2M
$1.8B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
LSF
LSF
NKSH
NKSH
Q4 25
$5.1M
$59.3M
Q3 25
$5.1M
$42.3M
Q2 25
$3.9M
$92.8M
Q1 25
$7.0M
$122.5M
Q4 24
$8.3M
$108.1M
Q3 24
$7.9M
$49.8M
Q2 24
$7.6M
$98.9M
Q1 24
$7.1M
$121.2M
Stockholders' Equity
LSF
LSF
NKSH
NKSH
Q4 25
$11.5M
$184.9M
Q3 25
$12.8M
$179.2M
Q2 25
$13.4M
$168.7M
Q1 25
$13.3M
$167.3M
Q4 24
$13.2M
$156.4M
Q3 24
$13.1M
$167.8M
Q2 24
$12.6M
$149.0M
Q1 24
$12.7M
$139.4M
Total Assets
LSF
LSF
NKSH
NKSH
Q4 25
$19.2M
$1.8B
Q3 25
$18.9M
$1.8B
Q2 25
$20.4M
$1.8B
Q1 25
$21.5M
$1.8B
Q4 24
$19.3M
$1.8B
Q3 24
$18.8M
$1.8B
Q2 24
$18.0M
$1.8B
Q1 24
$17.6M
$1.7B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
LSF
LSF
NKSH
NKSH
Operating Cash FlowLast quarter
$68.4K
$17.9M
Free Cash FlowOCF − Capex
$15.2M
FCF MarginFCF / Revenue
99.2%
Capex IntensityCapex / Revenue
17.9%
Cash ConversionOCF / Net Profit
3.04×
TTM Free Cash FlowTrailing 4 quarters
$23.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
LSF
LSF
NKSH
NKSH
Q4 25
$68.4K
$17.9M
Q3 25
$1.2M
$6.1M
Q2 25
$-2.8M
$2.1M
Q1 25
$-1.3M
$2.6M
Q4 24
$339.2K
$9.4M
Q3 24
$305.8K
$3.1M
Q2 24
$642.7K
$-3.0M
Q1 24
$-422.3K
$3.8M
Free Cash Flow
LSF
LSF
NKSH
NKSH
Q4 25
$15.2M
Q3 25
$5.3M
Q2 25
$1.5M
Q1 25
$1.6M
Q4 24
$6.2M
Q3 24
$2.2M
Q2 24
$-4.0M
Q1 24
$3.5M
FCF Margin
LSF
LSF
NKSH
NKSH
Q4 25
99.2%
Q3 25
37.4%
Q2 25
11.5%
Q1 25
12.5%
Q4 24
50.5%
Q3 24
18.5%
Q2 24
-36.3%
Q1 24
33.8%
Capex Intensity
LSF
LSF
NKSH
NKSH
Q4 25
17.9%
Q3 25
5.6%
Q2 25
4.1%
Q1 25
7.5%
Q4 24
26.6%
Q3 24
8.3%
Q2 24
9.3%
Q1 24
3.0%
Cash Conversion
LSF
LSF
NKSH
NKSH
Q4 25
3.04×
Q3 25
1.38×
Q2 25
0.90×
Q1 25
0.79×
Q4 24
3.07×
Q3 24
1.17×
Q2 24
Q1 24
1.77×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

LSF
LSF

Wholesale$7.0M52%
Coffee Tea And Hot Chocolate Products$4.4M33%
Hydration And Beverage Enhancing Supplements$1.6M12%
Other$352.6K3%

NKSH
NKSH

Segment breakdown not available.

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