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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and PAMT CORP (PAMT). Click either name above to swap in a different company.
PAMT CORP is the larger business by last-quarter revenue ($141.3M vs $104.0M, roughly 1.4× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -20.7%, a 59.5% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs -15.1%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-25.0M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs -12.0%).
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.
NIC vs PAMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $141.3M |
| Net Profit | $40.3M | $-29.3M |
| Gross Margin | — | — |
| Operating Margin | 48.3% | -27.0% |
| Net Margin | 38.8% | -20.7% |
| Revenue YoY | 12.5% | -15.1% |
| Net Profit YoY | 16.9% | 7.4% |
| EPS (diluted) | $2.63 | $-1.38 |
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 | $141.3M | ||
| Q3 25 | $102.9M | $150.3M | ||
| Q2 25 | $95.7M | $151.1M | ||
| Q1 25 | $89.4M | $155.3M | ||
| Q4 24 | $92.4M | $166.5M | ||
| Q3 24 | $90.7M | $182.6M | ||
| Q2 24 | $85.0M | $182.9M | ||
| Q1 24 | $82.2M | $182.6M |
| Q4 25 | $40.3M | $-29.3M | ||
| Q3 25 | $41.7M | $-5.6M | ||
| Q2 25 | $36.0M | $-9.6M | ||
| Q1 25 | $32.6M | $-8.1M | ||
| Q4 24 | $34.5M | $-31.6M | ||
| Q3 24 | $32.5M | $2.4M | ||
| Q2 24 | $29.3M | $-2.9M | ||
| Q1 24 | $27.8M | $281.0K |
| Q4 25 | 48.3% | -27.0% | ||
| Q3 25 | 50.4% | -3.8% | ||
| Q2 25 | 46.8% | -7.3% | ||
| Q1 25 | 44.9% | -5.9% | ||
| Q4 24 | 46.8% | -22.6% | ||
| Q3 24 | 45.0% | 1.3% | ||
| Q2 24 | 43.3% | -0.4% | ||
| Q1 24 | 41.8% | -0.4% |
| Q4 25 | 38.8% | -20.7% | ||
| Q3 25 | 40.6% | -3.7% | ||
| Q2 25 | 37.6% | -6.4% | ||
| Q1 25 | 36.4% | -5.2% | ||
| Q4 24 | 37.3% | -19.0% | ||
| Q3 24 | 35.8% | 1.3% | ||
| Q2 24 | 34.5% | -1.6% | ||
| Q1 24 | 33.8% | 0.2% |
| Q4 25 | $2.63 | $-1.38 | ||
| Q3 25 | $2.73 | $-0.27 | ||
| Q2 25 | $2.34 | $-0.46 | ||
| Q1 25 | $2.08 | $-0.37 | ||
| Q4 24 | $2.21 | $-1.44 | ||
| Q3 24 | $2.10 | $0.11 | ||
| Q2 24 | $1.92 | $-0.13 | ||
| Q1 24 | $1.82 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $83.7M |
| Total DebtLower is stronger | $134.9M | $333.9M |
| Stockholders' EquityBook value | $1.3B | $210.5M |
| Total Assets | $9.2B | $697.9M |
| Debt / EquityLower = less leverage | 0.11× | 1.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $83.7M | ||
| Q3 25 | — | $115.6M | ||
| Q2 25 | — | $117.3M | ||
| Q1 25 | — | $102.7M | ||
| Q4 24 | — | $110.7M | ||
| Q3 24 | — | $92.3M | ||
| Q2 24 | — | $114.0M | ||
| Q1 24 | — | $125.8M |
| Q4 25 | $134.9M | $333.9M | ||
| Q3 25 | $134.6M | — | ||
| Q2 25 | $134.3M | — | ||
| Q1 25 | $156.6M | — | ||
| Q4 24 | $161.4M | $325.6M | ||
| Q3 24 | $161.2M | — | ||
| Q2 24 | $162.4M | — | ||
| Q1 24 | $162.3M | — |
| Q4 25 | $1.3B | $210.5M | ||
| Q3 25 | $1.2B | $239.5M | ||
| Q2 25 | $1.2B | $244.9M | ||
| Q1 25 | $1.2B | $269.6M | ||
| Q4 24 | $1.2B | $277.5M | ||
| Q3 24 | $1.1B | $308.9M | ||
| Q2 24 | $1.1B | $306.7M | ||
| Q1 24 | $1.1B | $314.6M |
| Q4 25 | $9.2B | $697.9M | ||
| Q3 25 | $9.0B | $715.2M | ||
| Q2 25 | $8.9B | $707.9M | ||
| Q1 25 | $9.0B | $712.6M | ||
| Q4 24 | $8.8B | $741.7M | ||
| Q3 24 | $8.6B | $756.7M | ||
| Q2 24 | $8.6B | $733.5M | ||
| Q1 24 | $8.4B | $746.4M |
| Q4 25 | 0.11× | 1.59× | ||
| Q3 25 | 0.11× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | 1.17× | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 24 | 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 | $153.5M | $-5.8M |
| Free Cash FlowOCF − Capex | $149.4M | $-25.0M |
| FCF MarginFCF / Revenue | 143.7% | -17.7% |
| Capex IntensityCapex / Revenue | 3.9% | 13.6% |
| Cash ConversionOCF / Net Profit | 3.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | $-23.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $153.5M | $-5.8M | ||
| Q3 25 | $45.9M | $5.9M | ||
| Q2 25 | $38.9M | $12.2M | ||
| Q1 25 | $41.8M | $5.0M | ||
| Q4 24 | $133.7M | $15.2M | ||
| Q3 24 | $39.6M | $15.5M | ||
| Q2 24 | $37.3M | $18.7M | ||
| Q1 24 | $23.4M | $9.6M |
| Q4 25 | $149.4M | $-25.0M | ||
| Q3 25 | $45.9M | $2.5M | ||
| Q2 25 | $38.4M | $5.9M | ||
| Q1 25 | $41.3M | $-6.8M | ||
| Q4 24 | $116.8M | $-39.9M | ||
| Q3 24 | $34.7M | $-33.6M | ||
| Q2 24 | $34.4M | $4.1M | ||
| Q1 24 | $20.1M | $-12.2M |
| Q4 25 | 143.7% | -17.7% | ||
| Q3 25 | 44.6% | 1.7% | ||
| Q2 25 | 40.1% | 3.9% | ||
| Q1 25 | 46.2% | -4.4% | ||
| Q4 24 | 126.4% | -24.0% | ||
| Q3 24 | 38.3% | -18.4% | ||
| Q2 24 | 40.5% | 2.2% | ||
| Q1 24 | 24.4% | -6.7% |
| Q4 25 | 3.9% | 13.6% | ||
| Q3 25 | 0.0% | 2.3% | ||
| Q2 25 | 0.6% | 4.2% | ||
| Q1 25 | 0.5% | 7.6% | ||
| Q4 24 | 18.3% | 33.1% | ||
| Q3 24 | 5.4% | 26.9% | ||
| Q2 24 | 3.5% | 8.0% | ||
| Q1 24 | 4.0% | 12.0% |
| Q4 25 | 3.81× | — | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.28× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | 1.22× | 6.44× | ||
| Q2 24 | 1.28× | — | ||
| Q1 24 | 0.84× | 34.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NIC
Segment breakdown not available.
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
