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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
NICOLET BANKSHARES INC is the larger business by last-quarter revenue ($104.0M vs $93.7M, roughly 1.1× Ranpak Holdings Corp.). On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 12.5%).
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.
Ranpak Holdings Corp. manufactures machines and paper products used in protective paper-based packing for shipping goods and merchandise for e-commerce and industry, along with automation solutions. The company is based in Concord, Ohio, and has production facilities and offices in Reno, Nevada; Kansas City, Missouri; the Netherlands; Czech Republic; Shanghai and Singapore. The paper packaging material can be used for multiple applications like wrapping, cushioning, void fill and cold chain p...
NIC vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $93.7M |
| Net Profit | $40.3M | — |
| Gross Margin | — | 39.0% |
| Operating Margin | 48.3% | -1.0% |
| Net Margin | 38.8% | — |
| Revenue YoY | 12.5% | 2.3% |
| Net Profit YoY | 16.9% | — |
| EPS (diluted) | $2.63 | $-0.11 |
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 | $104.0M | $93.7M | ||
| Q3 25 | $102.9M | $83.6M | ||
| Q2 25 | $95.7M | $77.8M | ||
| Q1 25 | $89.4M | $77.6M | ||
| Q4 24 | $92.4M | $91.6M | ||
| Q3 24 | $90.7M | $78.6M | ||
| Q2 24 | $85.0M | $72.8M | ||
| Q1 24 | $82.2M | $72.5M |
| Q4 25 | $40.3M | — | ||
| Q3 25 | $41.7M | $-10.4M | ||
| Q2 25 | $36.0M | $-7.5M | ||
| Q1 25 | $32.6M | $-10.9M | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $32.5M | $-8.1M | ||
| Q2 24 | $29.3M | $5.5M | ||
| Q1 24 | $27.8M | $-8.1M |
| Q4 25 | — | 39.0% | ||
| Q3 25 | — | 41.1% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 45.2% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 43.5% | ||
| Q1 24 | — | 44.6% |
| Q4 25 | 48.3% | -1.0% | ||
| Q3 25 | 50.4% | -6.8% | ||
| Q2 25 | 46.8% | -12.5% | ||
| Q1 25 | 44.9% | -10.3% | ||
| Q4 24 | 46.8% | 1.5% | ||
| Q3 24 | 45.0% | -5.3% | ||
| Q2 24 | 43.3% | -7.1% | ||
| Q1 24 | 41.8% | -6.6% |
| Q4 25 | 38.8% | — | ||
| Q3 25 | 40.6% | -12.4% | ||
| Q2 25 | 37.6% | -9.6% | ||
| Q1 25 | 36.4% | -14.0% | ||
| Q4 24 | 37.3% | — | ||
| Q3 24 | 35.8% | -10.3% | ||
| Q2 24 | 34.5% | 7.6% | ||
| Q1 24 | 33.8% | -11.2% |
| Q4 25 | $2.63 | $-0.11 | ||
| Q3 25 | $2.73 | $-0.12 | ||
| Q2 25 | $2.34 | $-0.09 | ||
| Q1 25 | $2.08 | $-0.13 | ||
| Q4 24 | $2.21 | $-0.13 | ||
| Q3 24 | $2.10 | $-0.10 | ||
| Q2 24 | $1.92 | $0.07 | ||
| Q1 24 | $1.82 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $63.0M |
| Total DebtLower is stronger | $134.9M | $401.9M |
| Stockholders' EquityBook value | $1.3B | $534.9M |
| Total Assets | $9.2B | $1.1B |
| Debt / EquityLower = less leverage | 0.11× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $63.0M | ||
| Q3 25 | — | $49.9M | ||
| Q2 25 | — | $49.2M | ||
| Q1 25 | — | $65.5M | ||
| Q4 24 | — | $76.1M | ||
| Q3 24 | — | $69.5M | ||
| Q2 24 | — | $65.1M | ||
| Q1 24 | — | $55.1M |
| Q4 25 | $134.9M | $401.9M | ||
| Q3 25 | $134.6M | $403.1M | ||
| Q2 25 | $134.3M | $403.1M | ||
| Q1 25 | $156.6M | $405.2M | ||
| Q4 24 | $161.4M | $406.4M | ||
| Q3 24 | $161.2M | $403.2M | ||
| Q2 24 | $162.4M | $396.1M | ||
| Q1 24 | $162.3M | $396.7M |
| Q4 25 | $1.3B | $534.9M | ||
| Q3 25 | $1.2B | $537.8M | ||
| Q2 25 | $1.2B | $539.0M | ||
| Q1 25 | $1.2B | $544.1M | ||
| Q4 24 | $1.2B | $548.1M | ||
| Q3 24 | $1.1B | $564.3M | ||
| Q2 24 | $1.1B | $566.2M | ||
| Q1 24 | $1.1B | $560.0M |
| Q4 25 | $9.2B | $1.1B | ||
| Q3 25 | $9.0B | $1.1B | ||
| Q2 25 | $8.9B | $1.1B | ||
| Q1 25 | $9.0B | $1.1B | ||
| Q4 24 | $8.8B | $1.1B | ||
| Q3 24 | $8.6B | $1.1B | ||
| Q2 24 | $8.6B | $1.1B | ||
| Q1 24 | $8.4B | $1.1B |
| Q4 25 | 0.11× | 0.75× | ||
| Q3 25 | 0.11× | 0.75× | ||
| Q2 25 | 0.11× | 0.75× | ||
| Q1 25 | 0.13× | 0.74× | ||
| Q4 24 | 0.14× | 0.74× | ||
| Q3 24 | 0.14× | 0.71× | ||
| Q2 24 | 0.15× | 0.70× | ||
| Q1 24 | 0.15× | 0.71× |
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 | $153.5M | $19.5M |
| Free Cash FlowOCF − Capex | $149.4M | — |
| FCF MarginFCF / Revenue | 143.7% | — |
| Capex IntensityCapex / Revenue | 3.9% | — |
| Cash ConversionOCF / Net Profit | 3.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $153.5M | $19.5M | ||
| Q3 25 | $45.9M | $8.5M | ||
| Q2 25 | $38.9M | $-3.6M | ||
| Q1 25 | $41.8M | $-1.3M | ||
| Q4 24 | $133.7M | $6.5M | ||
| Q3 24 | $39.6M | $10.1M | ||
| Q2 24 | $37.3M | $19.6M | ||
| Q1 24 | $23.4M | $5.2M |
| Q4 25 | $149.4M | — | ||
| Q3 25 | $45.9M | — | ||
| Q2 25 | $38.4M | — | ||
| Q1 25 | $41.3M | — | ||
| Q4 24 | $116.8M | — | ||
| Q3 24 | $34.7M | — | ||
| Q2 24 | $34.4M | — | ||
| Q1 24 | $20.1M | — |
| Q4 25 | 143.7% | — | ||
| Q3 25 | 44.6% | — | ||
| Q2 25 | 40.1% | — | ||
| Q1 25 | 46.2% | — | ||
| Q4 24 | 126.4% | — | ||
| Q3 24 | 38.3% | — | ||
| Q2 24 | 40.5% | — | ||
| Q1 24 | 24.4% | — |
| Q4 25 | 3.9% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 18.3% | — | ||
| Q3 24 | 5.4% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 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× | 3.56× | ||
| Q1 24 | 0.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NIC
Segment breakdown not available.
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
