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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
NICOLET BANKSHARES INC is the larger business by last-quarter revenue ($104.0M vs $57.6M, roughly 1.8× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-167.0M).
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.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
NIC vs PHAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $57.6M |
| Net Profit | $40.3M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | 48.3% | — |
| Net Margin | 38.8% | — |
| Revenue YoY | 12.5% | 94.1% |
| Net Profit YoY | 16.9% | 71.6% |
| EPS (diluted) | $2.63 | — |
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 | $57.6M | ||
| Q3 25 | $102.9M | $49.5M | ||
| Q2 25 | $95.7M | $39.5M | ||
| Q1 25 | $89.4M | $28.5M | ||
| Q4 24 | $92.4M | $29.7M | ||
| Q3 24 | $90.7M | $16.4M | ||
| Q2 24 | $85.0M | $7.3M | ||
| Q1 24 | $82.2M | — |
| Q4 25 | $40.3M | — | ||
| Q3 25 | $41.7M | $-30.0M | ||
| Q2 25 | $36.0M | $-75.8M | ||
| Q1 25 | $32.6M | $-94.3M | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $32.5M | $-85.6M | ||
| Q2 24 | $29.3M | $-91.4M | ||
| Q1 24 | $27.8M | — |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | 87.2% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.6% | ||
| Q2 24 | — | 81.2% | ||
| Q1 24 | — | — |
| Q4 25 | 48.3% | — | ||
| Q3 25 | 50.4% | -30.8% | ||
| Q2 25 | 46.8% | -151.7% | ||
| Q1 25 | 44.9% | -276.5% | ||
| Q4 24 | 46.8% | — | ||
| Q3 24 | 45.0% | -433.0% | ||
| Q2 24 | 43.3% | -1055.4% | ||
| Q1 24 | 41.8% | — |
| Q4 25 | 38.8% | — | ||
| Q3 25 | 40.6% | -60.5% | ||
| Q2 25 | 37.6% | -191.9% | ||
| Q1 25 | 36.4% | -330.7% | ||
| Q4 24 | 37.3% | — | ||
| Q3 24 | 35.8% | -523.3% | ||
| Q2 24 | 34.5% | -1248.6% | ||
| Q1 24 | 33.8% | — |
| Q4 25 | $2.63 | — | ||
| Q3 25 | $2.73 | $-0.41 | ||
| Q2 25 | $2.34 | $-1.05 | ||
| Q1 25 | $2.08 | $-1.31 | ||
| Q4 24 | $2.21 | — | ||
| Q3 24 | $2.10 | $-1.32 | ||
| Q2 24 | $1.92 | $-1.56 | ||
| Q1 24 | $1.82 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $130.0M |
| Total DebtLower is stronger | $134.9M | $209.1M |
| Stockholders' EquityBook value | $1.3B | $-438.2M |
| Total Assets | $9.2B | $259.1M |
| Debt / EquityLower = less leverage | 0.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $130.0M | ||
| Q3 25 | — | $135.2M | ||
| Q2 25 | — | $149.6M | ||
| Q1 25 | — | $212.3M | ||
| Q4 24 | — | $297.3M | ||
| Q3 24 | — | $334.7M | ||
| Q2 24 | — | $276.2M | ||
| Q1 24 | — | — |
| Q4 25 | $134.9M | $209.1M | ||
| Q3 25 | $134.6M | $207.1M | ||
| Q2 25 | $134.3M | $205.1M | ||
| Q1 25 | $156.6M | $203.2M | ||
| Q4 24 | $161.4M | $201.4M | ||
| Q3 24 | $161.2M | $175.7M | ||
| Q2 24 | $162.4M | $174.4M | ||
| Q1 24 | $162.3M | — |
| Q4 25 | $1.3B | $-438.2M | ||
| Q3 25 | $1.2B | $-422.5M | ||
| Q2 25 | $1.2B | $-405.8M | ||
| Q1 25 | $1.2B | $-338.4M | ||
| Q4 24 | $1.2B | $-253.6M | ||
| Q3 24 | $1.1B | $-187.1M | ||
| Q2 24 | $1.1B | $-233.8M | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $9.2B | $259.1M | ||
| Q3 25 | $9.0B | $240.3M | ||
| Q2 25 | $8.9B | $250.2M | ||
| Q1 25 | $9.0B | $294.2M | ||
| Q4 24 | $8.8B | $378.3M | ||
| Q3 24 | $8.6B | $387.0M | ||
| Q2 24 | $8.6B | $319.4M | ||
| Q1 24 | $8.4B | — |
| Q4 25 | 0.11× | — | ||
| Q3 25 | 0.11× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | — | ||
| 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 | $-166.8M |
| Free Cash FlowOCF − Capex | $149.4M | $-167.0M |
| FCF MarginFCF / Revenue | 143.7% | -290.0% |
| Capex IntensityCapex / Revenue | 3.9% | 0.4% |
| Cash ConversionOCF / Net Profit | 3.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $153.5M | $-166.8M | ||
| Q3 25 | $45.9M | $-14.1M | ||
| Q2 25 | $38.9M | $-62.7M | ||
| Q1 25 | $41.8M | $-84.9M | ||
| Q4 24 | $133.7M | $-266.8M | ||
| Q3 24 | $39.6M | $-63.6M | ||
| Q2 24 | $37.3M | $-70.7M | ||
| Q1 24 | $23.4M | — |
| Q4 25 | $149.4M | $-167.0M | ||
| Q3 25 | $45.9M | $-14.1M | ||
| Q2 25 | $38.4M | $-62.8M | ||
| Q1 25 | $41.3M | $-84.9M | ||
| Q4 24 | $116.8M | $-266.9M | ||
| Q3 24 | $34.7M | $-63.6M | ||
| Q2 24 | $34.4M | $-70.8M | ||
| Q1 24 | $20.1M | — |
| Q4 25 | 143.7% | -290.0% | ||
| Q3 25 | 44.6% | -28.6% | ||
| Q2 25 | 40.1% | -159.0% | ||
| Q1 25 | 46.2% | -297.9% | ||
| Q4 24 | 126.4% | -899.8% | ||
| Q3 24 | 38.3% | -389.0% | ||
| Q2 24 | 40.5% | -966.2% | ||
| Q1 24 | 24.4% | — |
| Q4 25 | 3.9% | 0.4% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.6% | 0.2% | ||
| Q1 25 | 0.5% | 0.1% | ||
| Q4 24 | 18.3% | 0.5% | ||
| Q3 24 | 5.4% | 0.3% | ||
| Q2 24 | 3.5% | 0.6% | ||
| 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× | — | ||
| Q1 24 | 0.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
