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Side-by-side financial comparison of NACCO INDUSTRIES INC (NC) and System1, Inc. (SST). Click either name above to swap in a different company.
NACCO INDUSTRIES INC is the larger business by last-quarter revenue ($66.8M vs $51.9M, roughly 1.3× System1, Inc.). NACCO INDUSTRIES INC runs the higher net margin — -5.8% vs -26.0%, a 20.2% gap on every dollar of revenue. On growth, NACCO INDUSTRIES INC posted the faster year-over-year revenue change (-5.2% vs -31.3%). Over the past eight quarters, NACCO INDUSTRIES INC's revenue compounded faster (11.9% CAGR vs -21.8%).
NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013. It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com. It is headquartered in Marina del Rey, California.
NC vs SST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.8M | $51.9M |
| Net Profit | $-3.8M | $-13.5M |
| Gross Margin | 18.0% | 41.0% |
| Operating Margin | 11.3% | -33.6% |
| Net Margin | -5.8% | -26.0% |
| Revenue YoY | -5.2% | -31.3% |
| Net Profit YoY | -150.8% | 4.8% |
| EPS (diluted) | $-0.53 | $-3.58 |
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 | $66.8M | $51.9M | ||
| Q3 25 | $76.6M | $61.6M | ||
| Q2 25 | $68.2M | $78.1M | ||
| Q1 25 | $65.6M | $74.5M | ||
| Q4 24 | $70.4M | $75.6M | ||
| Q3 24 | $61.7M | $88.8M | ||
| Q2 24 | $52.3M | $94.6M | ||
| Q1 24 | $53.3M | $84.9M |
| Q4 25 | $-3.8M | $-13.5M | ||
| Q3 25 | $13.3M | $-18.5M | ||
| Q2 25 | $3.3M | $-17.5M | ||
| Q1 25 | $4.9M | $-15.9M | ||
| Q4 24 | $7.6M | $-14.2M | ||
| Q3 24 | $15.6M | $-23.6M | ||
| Q2 24 | $6.0M | $-26.4M | ||
| Q1 24 | $4.6M | $-10.5M |
| Q4 25 | 18.0% | 41.0% | ||
| Q3 25 | 13.0% | 36.9% | ||
| Q2 25 | 10.0% | 35.7% | ||
| Q1 25 | 14.7% | 38.2% | ||
| Q4 24 | 12.0% | 42.1% | ||
| Q3 24 | 11.7% | 28.0% | ||
| Q2 24 | 13.4% | 27.6% | ||
| Q1 24 | 13.2% | 21.9% |
| Q4 25 | 11.3% | -33.6% | ||
| Q3 25 | 8.8% | -25.3% | ||
| Q2 25 | -0.1% | -20.4% | ||
| Q1 25 | 11.7% | -17.6% | ||
| Q4 24 | 5.5% | -15.7% | ||
| Q3 24 | 31.9% | -24.6% | ||
| Q2 24 | 14.1% | -30.8% | ||
| Q1 24 | 8.9% | -30.4% |
| Q4 25 | -5.8% | -26.0% | ||
| Q3 25 | 17.3% | -30.1% | ||
| Q2 25 | 4.8% | -22.4% | ||
| Q1 25 | 7.5% | -21.3% | ||
| Q4 24 | 10.7% | -18.7% | ||
| Q3 24 | 25.4% | -26.6% | ||
| Q2 24 | 11.4% | -27.9% | ||
| Q1 24 | 8.6% | -12.4% |
| Q4 25 | $-0.53 | $-3.58 | ||
| Q3 25 | $1.78 | $-2.30 | ||
| Q2 25 | $0.44 | $-2.23 | ||
| Q1 25 | $0.66 | $-0.21 | ||
| Q4 24 | $0.99 | $-3.41 | ||
| Q3 24 | $2.14 | $-3.37 | ||
| Q2 24 | $0.81 | $-3.80 | ||
| Q1 24 | $0.61 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.7M | $86.9M |
| Total DebtLower is stronger | $100.8M | $305.1M |
| Stockholders' EquityBook value | $429.2M | $30.5M |
| Total Assets | $661.2M | $405.0M |
| Debt / EquityLower = less leverage | 0.23× | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.7M | $86.9M | ||
| Q3 25 | $52.7M | $54.6M | ||
| Q2 25 | $49.4M | $63.6M | ||
| Q1 25 | $61.9M | $43.9M | ||
| Q4 24 | $72.8M | $63.6M | ||
| Q3 24 | $63.1M | $69.1M | ||
| Q2 24 | $62.4M | $75.7M | ||
| Q1 24 | $61.8M | $69.9M |
| Q4 25 | $100.8M | $305.1M | ||
| Q3 25 | — | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | $99.4M | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | $29.0M | $263.3M | ||
| Q1 24 | $28.4M | $268.6M |
| Q4 25 | $429.2M | $30.5M | ||
| Q3 25 | $426.4M | $42.7M | ||
| Q2 25 | $413.1M | $58.2M | ||
| Q1 25 | $409.1M | $67.2M | ||
| Q4 24 | $404.9M | $80.3M | ||
| Q3 24 | $397.3M | $90.3M | ||
| Q2 24 | $384.1M | $109.4M | ||
| Q1 24 | $381.6M | $131.7M |
| Q4 25 | $661.2M | $405.0M | ||
| Q3 25 | $637.6M | $385.2M | ||
| Q2 25 | $631.3M | $429.2M | ||
| Q1 25 | $634.2M | $419.2M | ||
| Q4 24 | $631.7M | $459.1M | ||
| Q3 24 | $597.4M | $479.3M | ||
| Q2 24 | $560.1M | $511.3M | ||
| Q1 24 | $538.0M | $521.1M |
| Q4 25 | 0.23× | 10.01× | ||
| Q3 25 | — | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | 0.25× | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | 0.08× | 2.41× | ||
| Q1 24 | 0.07× | 2.04× |
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 | $11.4M | $-10.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $-10.6M | ||
| Q3 25 | $42.3M | $-2.1M | ||
| Q2 25 | $-7.8M | $24.5M | ||
| Q1 25 | $5.0M | $-15.9M | ||
| Q4 24 | $25.2M | $772.0K | ||
| Q3 24 | $2.8M | $-5.0K | ||
| Q2 24 | $4.1M | $10.0M | ||
| Q1 24 | $-9.8M | $-16.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-16.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-36.0K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -21.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 3.19× | — | ||
| Q2 25 | -2.39× | — | ||
| Q1 25 | 1.03× | — | ||
| Q4 24 | 3.33× | — | ||
| Q3 24 | 0.18× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | -2.14× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NC
| Transferred Over Time | $42.7M | 64% |
| Transferred At Point In Time | $24.1M | 36% |
SST
Segment breakdown not available.
