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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and Phreesia, Inc. (PHR). Click either name above to swap in a different company.
Phreesia, Inc. is the larger business by last-quarter revenue ($120.3M vs $104.0M, roughly 1.2× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs 3.5%, a 35.2% gap on every dollar of revenue. On growth, Phreesia, Inc. posted the faster year-over-year revenue change (12.7% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $12.2M).
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.
Phreesia, Inc. is a software as a service company that offers healthcare organizations a set of applications to automate and manage patient intake.
NIC vs PHR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $120.3M |
| Net Profit | $40.3M | $4.3M |
| Gross Margin | — | — |
| Operating Margin | 48.3% | 3.1% |
| Net Margin | 38.8% | 3.5% |
| Revenue YoY | 12.5% | 12.7% |
| Net Profit YoY | 16.9% | 129.7% |
| EPS (diluted) | $2.63 | $0.07 |
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 | $120.3M | ||
| Q3 25 | $102.9M | $117.3M | ||
| Q2 25 | $95.7M | $115.9M | ||
| Q1 25 | $89.4M | — | ||
| Q4 24 | $92.4M | — | ||
| Q3 24 | $90.7M | — | ||
| Q2 24 | $85.0M | — | ||
| Q1 24 | $82.2M | — |
| Q4 25 | $40.3M | $4.3M | ||
| Q3 25 | $41.7M | $654.0K | ||
| Q2 25 | $36.0M | $-3.9M | ||
| Q1 25 | $32.6M | — | ||
| Q4 24 | $34.5M | — | ||
| Q3 24 | $32.5M | — | ||
| Q2 24 | $29.3M | — | ||
| Q1 24 | $27.8M | — |
| Q4 25 | 48.3% | 3.1% | ||
| Q3 25 | 50.4% | -1.3% | ||
| Q2 25 | 46.8% | -2.8% | ||
| Q1 25 | 44.9% | — | ||
| Q4 24 | 46.8% | — | ||
| Q3 24 | 45.0% | — | ||
| Q2 24 | 43.3% | — | ||
| Q1 24 | 41.8% | — |
| Q4 25 | 38.8% | 3.5% | ||
| Q3 25 | 40.6% | 0.6% | ||
| Q2 25 | 37.6% | -3.4% | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | 37.3% | — | ||
| Q3 24 | 35.8% | — | ||
| Q2 24 | 34.5% | — | ||
| Q1 24 | 33.8% | — |
| Q4 25 | $2.63 | $0.07 | ||
| Q3 25 | $2.73 | $0.01 | ||
| Q2 25 | $2.34 | $-0.07 | ||
| Q1 25 | $2.08 | — | ||
| Q4 24 | $2.21 | — | ||
| Q3 24 | $2.10 | — | ||
| Q2 24 | $1.92 | — | ||
| 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 | — | $106.4M |
| Total DebtLower is stronger | $134.9M | $3.4M |
| Stockholders' EquityBook value | $1.3B | $320.3M |
| Total Assets | $9.2B | $423.5M |
| Debt / EquityLower = less leverage | 0.11× | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $106.4M | ||
| Q3 25 | — | $98.3M | ||
| Q2 25 | — | $90.9M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $134.9M | $3.4M | ||
| Q3 25 | $134.6M | $4.6M | ||
| Q2 25 | $134.3M | $6.2M | ||
| Q1 25 | $156.6M | — | ||
| Q4 24 | $161.4M | — | ||
| Q3 24 | $161.2M | — | ||
| Q2 24 | $162.4M | — | ||
| Q1 24 | $162.3M | — |
| Q4 25 | $1.3B | $320.3M | ||
| Q3 25 | $1.2B | $298.0M | ||
| Q2 25 | $1.2B | $282.2M | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $9.2B | $423.5M | ||
| Q3 25 | $9.0B | $408.6M | ||
| Q2 25 | $8.9B | $400.4M | ||
| Q1 25 | $9.0B | — | ||
| Q4 24 | $8.8B | — | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.6B | — | ||
| Q1 24 | $8.4B | — |
| Q4 25 | 0.11× | 0.01× | ||
| Q3 25 | 0.11× | 0.02× | ||
| Q2 25 | 0.11× | 0.02× | ||
| 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 | $15.5M |
| Free Cash FlowOCF − Capex | $149.4M | $12.2M |
| FCF MarginFCF / Revenue | 143.7% | 10.1% |
| Capex IntensityCapex / Revenue | 3.9% | 2.7% |
| Cash ConversionOCF / Net Profit | 3.81× | 3.62× |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $153.5M | $15.5M | ||
| Q3 25 | $45.9M | $14.8M | ||
| Q2 25 | $38.9M | $14.8M | ||
| Q1 25 | $41.8M | — | ||
| Q4 24 | $133.7M | — | ||
| Q3 24 | $39.6M | — | ||
| Q2 24 | $37.3M | — | ||
| Q1 24 | $23.4M | — |
| Q4 25 | $149.4M | $12.2M | ||
| Q3 25 | $45.9M | $13.1M | ||
| Q2 25 | $38.4M | $11.3M | ||
| Q1 25 | $41.3M | — | ||
| Q4 24 | $116.8M | — | ||
| Q3 24 | $34.7M | — | ||
| Q2 24 | $34.4M | — | ||
| Q1 24 | $20.1M | — |
| Q4 25 | 143.7% | 10.1% | ||
| Q3 25 | 44.6% | 11.1% | ||
| Q2 25 | 40.1% | 9.8% | ||
| Q1 25 | 46.2% | — | ||
| Q4 24 | 126.4% | — | ||
| Q3 24 | 38.3% | — | ||
| Q2 24 | 40.5% | — | ||
| Q1 24 | 24.4% | — |
| Q4 25 | 3.9% | 2.7% | ||
| Q3 25 | 0.0% | 1.5% | ||
| Q2 25 | 0.6% | 3.0% | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 18.3% | — | ||
| Q3 24 | 5.4% | — | ||
| Q2 24 | 3.5% | — | ||
| Q1 24 | 4.0% | — |
| Q4 25 | 3.81× | 3.62× | ||
| Q3 25 | 1.10× | 22.68× | ||
| 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.
Revenue Breakdown by Segment
NIC
Segment breakdown not available.
PHR
| Subscription And Services | $55.5M | 46% |
| Network Solutions | $37.4M | 31% |
| Payment Processing Fees | $27.4M | 23% |
