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Side-by-side financial comparison of MESA LABORATORIES INC (MLAB) and National Bank Holdings Corp (NBHC). Click either name above to swap in a different company.
National Bank Holdings Corp is the larger business by last-quarter revenue ($126.8M vs $65.1M, roughly 1.9× MESA LABORATORIES INC). National Bank Holdings Corp runs the higher net margin — 16.4% vs 5.6%, a 10.8% gap on every dollar of revenue. Over the past eight quarters, National Bank Holdings Corp's revenue compounded faster (14.0% CAGR vs 5.1%).
Mesa Laboratories Inc. develops, manufactures and sells professional quality control, calibration and monitoring instruments as well as related supporting services. Its core offerings cater to healthcare, pharmaceutical, food and beverage, industrial hygiene and environmental testing markets, helping global clients meet regulatory compliance and operational safety requirements.
Old National Bank is an American regional bank with nearly 200 retail branches operated by Old National Bancorp and based in Chicago and Evansville, Indiana. With assets at $48.5 billion and 250 banking centers, Old National Bancorp is the largest financial services bank holding company headquartered in Indiana and one of the top 30 banking companies in the U.S. Old National Bank has locations in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Tennessee, and Wisconsin.
MLAB vs NBHC — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $65.1M | $126.8M |
| Net Profit | $3.6M | $20.8M |
| Gross Margin | 64.2% | — |
| Operating Margin | 12.2% | — |
| Net Margin | 5.6% | 16.4% |
| Revenue YoY | 3.6% | — |
| Net Profit YoY | 316.6% | -14.2% |
| EPS (diluted) | $0.65 | $0.46 |
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.
| Q1 26 | — | $126.8M | ||
| Q4 25 | $65.1M | $100.6M | ||
| Q3 25 | $60.7M | $108.9M | ||
| Q2 25 | $59.5M | $104.5M | ||
| Q1 25 | $62.1M | $102.1M | ||
| Q4 24 | $62.8M | $101.3M | ||
| Q3 24 | $57.8M | $106.0M | ||
| Q2 24 | $58.2M | $97.6M |
| Q1 26 | — | $20.8M | ||
| Q4 25 | $3.6M | $16.0M | ||
| Q3 25 | $2.5M | $35.3M | ||
| Q2 25 | $4.7M | $34.0M | ||
| Q1 25 | $-7.1M | $24.2M | ||
| Q4 24 | $-1.7M | $28.2M | ||
| Q3 24 | $3.4M | $33.1M | ||
| Q2 24 | $3.4M | $26.1M |
| Q1 26 | — | — | ||
| Q4 25 | 64.2% | — | ||
| Q3 25 | 61.5% | — | ||
| Q2 25 | 62.0% | — | ||
| Q1 25 | 61.8% | — | ||
| Q4 24 | 63.3% | — | ||
| Q3 24 | 61.3% | — | ||
| Q2 24 | 64.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 12.2% | 19.0% | ||
| Q3 25 | 7.8% | 39.6% | ||
| Q2 25 | 5.1% | 39.8% | ||
| Q1 25 | 2.4% | 29.2% | ||
| Q4 24 | 9.2% | 34.3% | ||
| Q3 24 | 6.1% | 37.6% | ||
| Q2 24 | 9.6% | 32.5% |
| Q1 26 | — | 16.4% | ||
| Q4 25 | 5.6% | 15.9% | ||
| Q3 25 | 4.1% | 32.4% | ||
| Q2 25 | 8.0% | 32.6% | ||
| Q1 25 | -11.4% | 23.7% | ||
| Q4 24 | -2.7% | 27.8% | ||
| Q3 24 | 5.9% | 31.2% | ||
| Q2 24 | 5.8% | 26.8% |
| Q1 26 | — | $0.46 | ||
| Q4 25 | $0.65 | $0.42 | ||
| Q3 25 | $0.45 | $0.92 | ||
| Q2 25 | $0.85 | $0.88 | ||
| Q1 25 | $-1.30 | $0.63 | ||
| Q4 24 | $-0.31 | $0.72 | ||
| Q3 24 | $0.63 | $0.86 | ||
| Q2 24 | $0.62 | $0.68 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.0M | $472.8M |
| Total DebtLower is stronger | $68.4M | $202.1M |
| Stockholders' EquityBook value | $186.7M | $1.7B |
| Total Assets | $434.8M | $12.6B |
| Debt / EquityLower = less leverage | 0.37× | 0.12× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $472.8M | ||
| Q4 25 | $29.0M | $417.1M | ||
| Q3 25 | $20.4M | $555.6M | ||
| Q2 25 | $21.3M | $296.5M | ||
| Q1 25 | $27.3M | $246.3M | ||
| Q4 24 | $27.3M | $127.8M | ||
| Q3 24 | $24.3M | $180.8M | ||
| Q2 24 | $28.5M | $145.0M |
| Q1 26 | — | $202.1M | ||
| Q4 25 | $68.4M | $54.5M | ||
| Q3 25 | $69.4M | $54.7M | ||
| Q2 25 | $70.3M | $54.4M | ||
| Q1 25 | $71.3M | $54.6M | ||
| Q4 24 | $72.2M | $54.5M | ||
| Q3 24 | $73.1M | $54.4M | ||
| Q2 24 | $74.1M | $54.4M |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $186.7M | $1.4B | ||
| Q3 25 | $178.5M | $1.4B | ||
| Q2 25 | $172.5M | $1.4B | ||
| Q1 25 | $159.8M | $1.3B | ||
| Q4 24 | $155.2M | $1.3B | ||
| Q3 24 | $161.5M | $1.3B | ||
| Q2 24 | $150.7M | $1.2B |
| Q1 26 | — | $12.6B | ||
| Q4 25 | $434.8M | $9.9B | ||
| Q3 25 | $430.4M | $10.2B | ||
| Q2 25 | $435.7M | $10.0B | ||
| Q1 25 | $433.3M | $10.1B | ||
| Q4 24 | $433.3M | $9.8B | ||
| Q3 24 | $454.1M | $10.0B | ||
| Q2 24 | $440.4M | $10.0B |
| Q1 26 | — | 0.12× | ||
| Q4 25 | 0.37× | 0.04× | ||
| Q3 25 | 0.39× | 0.04× | ||
| Q2 25 | 0.41× | 0.04× | ||
| Q1 25 | 0.45× | 0.04× | ||
| Q4 24 | 0.47× | 0.04× | ||
| Q3 24 | 0.45× | 0.04× | ||
| Q2 24 | 0.49× | 0.04× |
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 | $18.8M | — |
| Free Cash FlowOCF − Capex | $18.0M | — |
| FCF MarginFCF / Revenue | 27.7% | — |
| Capex IntensityCapex / Revenue | 1.1% | — |
| Cash ConversionOCF / Net Profit | 5.17× | — |
| TTM Free Cash FlowTrailing 4 quarters | $37.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $18.8M | $162.4M | ||
| Q3 25 | $8.2M | $52.4M | ||
| Q2 25 | $1.9M | $32.3M | ||
| Q1 25 | $12.7M | $39.6M | ||
| Q4 24 | $18.1M | $155.3M | ||
| Q3 24 | $5.3M | $47.0M | ||
| Q2 24 | $10.7M | $31.9M |
| Q1 26 | — | — | ||
| Q4 25 | $18.0M | — | ||
| Q3 25 | $7.1M | — | ||
| Q2 25 | $884.0K | — | ||
| Q1 25 | $11.9M | — | ||
| Q4 24 | $17.3M | — | ||
| Q3 24 | $3.5M | — | ||
| Q2 24 | $9.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | 27.7% | — | ||
| Q3 25 | 11.7% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 19.2% | — | ||
| Q4 24 | 27.6% | — | ||
| Q3 24 | 6.0% | — | ||
| Q2 24 | 16.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.8% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 3.1% | — | ||
| Q2 24 | 1.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 5.17× | 10.13× | ||
| Q3 25 | 3.32× | 1.48× | ||
| Q2 25 | 0.40× | 0.95× | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | 5.51× | ||
| Q3 24 | 1.54× | 1.42× | ||
| Q2 24 | 3.17× | 1.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MLAB
| Sterilization And Disinfection Control | $24.9M | 38% |
| Biopharmaceutical Development | $14.4M | 22% |
| Other | $14.1M | 22% |
| Clinical Genomics | $11.8M | 18% |
NBHC
| Net Interest Income | $108.8M | 86% |
| Noninterest Income | $18.0M | 14% |
