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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and QUALYS, INC. (QLYS). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $104.0M, roughly 1.7× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs 30.3%, a 8.5% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs 10.1%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $74.9M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs 9.6%).
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.
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
NIC vs QLYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $175.3M |
| Net Profit | $40.3M | $53.1M |
| Gross Margin | — | 83.4% |
| Operating Margin | 48.3% | 33.6% |
| Net Margin | 38.8% | 30.3% |
| Revenue YoY | 12.5% | 10.1% |
| Net Profit YoY | 16.9% | 20.9% |
| EPS (diluted) | $2.63 | $1.47 |
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 | $175.3M | ||
| Q3 25 | $102.9M | $169.9M | ||
| Q2 25 | $95.7M | $164.1M | ||
| Q1 25 | $89.4M | $159.9M | ||
| Q4 24 | $92.4M | $159.2M | ||
| Q3 24 | $90.7M | $153.9M | ||
| Q2 24 | $85.0M | $148.7M | ||
| Q1 24 | $82.2M | $145.8M |
| Q4 25 | $40.3M | $53.1M | ||
| Q3 25 | $41.7M | $50.3M | ||
| Q2 25 | $36.0M | $47.3M | ||
| Q1 25 | $32.6M | $47.5M | ||
| Q4 24 | $34.5M | $44.0M | ||
| Q3 24 | $32.5M | $46.2M | ||
| Q2 24 | $29.3M | $43.8M | ||
| Q1 24 | $27.8M | $39.7M |
| Q4 25 | — | 83.4% | ||
| Q3 25 | — | 83.6% | ||
| Q2 25 | — | 82.4% | ||
| Q1 25 | — | 81.9% | ||
| Q4 24 | — | 81.8% | ||
| Q3 24 | — | 81.3% | ||
| Q2 24 | — | 82.2% | ||
| Q1 24 | — | 81.3% |
| Q4 25 | 48.3% | 33.6% | ||
| Q3 25 | 50.4% | 35.3% | ||
| Q2 25 | 46.8% | 31.3% | ||
| Q1 25 | 44.9% | 32.4% | ||
| Q4 24 | 46.8% | 31.0% | ||
| Q3 24 | 45.0% | 29.2% | ||
| Q2 24 | 43.3% | 32.3% | ||
| Q1 24 | 41.8% | 30.7% |
| Q4 25 | 38.8% | 30.3% | ||
| Q3 25 | 40.6% | 29.6% | ||
| Q2 25 | 37.6% | 28.8% | ||
| Q1 25 | 36.4% | 29.7% | ||
| Q4 24 | 37.3% | 27.6% | ||
| Q3 24 | 35.8% | 30.0% | ||
| Q2 24 | 34.5% | 29.4% | ||
| Q1 24 | 33.8% | 27.2% |
| Q4 25 | $2.63 | $1.47 | ||
| Q3 25 | $2.73 | $1.39 | ||
| Q2 25 | $2.34 | $1.29 | ||
| Q1 25 | $2.08 | $1.29 | ||
| Q4 24 | $2.21 | $1.19 | ||
| Q3 24 | $2.10 | $1.24 | ||
| Q2 24 | $1.92 | $1.17 | ||
| Q1 24 | $1.82 | $1.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $250.3M |
| Total DebtLower is stronger | $134.9M | — |
| Stockholders' EquityBook value | $1.3B | $561.2M |
| Total Assets | $9.2B | $1.1B |
| Debt / EquityLower = less leverage | 0.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $250.3M | ||
| Q3 25 | — | $225.3M | ||
| Q2 25 | — | $194.0M | ||
| Q1 25 | — | $290.7M | ||
| Q4 24 | — | $232.2M | ||
| Q3 24 | — | $235.4M | ||
| Q2 24 | — | $281.2M | ||
| Q1 24 | — | $273.8M |
| Q4 25 | $134.9M | — | ||
| Q3 25 | $134.6M | — | ||
| Q2 25 | $134.3M | — | ||
| Q1 25 | $156.6M | — | ||
| Q4 24 | $161.4M | — | ||
| Q3 24 | $161.2M | — | ||
| Q2 24 | $162.4M | — | ||
| Q1 24 | $162.3M | — |
| Q4 25 | $1.3B | $561.2M | ||
| Q3 25 | $1.2B | $529.4M | ||
| Q2 25 | $1.2B | $508.2M | ||
| Q1 25 | $1.2B | $498.0M | ||
| Q4 24 | $1.2B | $477.1M | ||
| Q3 24 | $1.1B | $449.6M | ||
| Q2 24 | $1.1B | $427.8M | ||
| Q1 24 | $1.1B | $404.2M |
| Q4 25 | $9.2B | $1.1B | ||
| Q3 25 | $9.0B | $1.0B | ||
| Q2 25 | $8.9B | $999.5M | ||
| Q1 25 | $9.0B | $996.5M | ||
| Q4 24 | $8.8B | $973.5M | ||
| Q3 24 | $8.6B | $908.3M | ||
| Q2 24 | $8.6B | $876.6M | ||
| Q1 24 | $8.4B | $861.8M |
| 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 | $75.7M |
| Free Cash FlowOCF − Capex | $149.4M | $74.9M |
| FCF MarginFCF / Revenue | 143.7% | 42.8% |
| Capex IntensityCapex / Revenue | 3.9% | 0.4% |
| Cash ConversionOCF / Net Profit | 3.81× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | $304.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $153.5M | $75.7M | ||
| Q3 25 | $45.9M | $90.4M | ||
| Q2 25 | $38.9M | $33.8M | ||
| Q1 25 | $41.8M | $109.6M | ||
| Q4 24 | $133.7M | $47.7M | ||
| Q3 24 | $39.6M | $61.0M | ||
| Q2 24 | $37.3M | $49.8M | ||
| Q1 24 | $23.4M | $85.5M |
| Q4 25 | $149.4M | $74.9M | ||
| Q3 25 | $45.9M | $89.5M | ||
| Q2 25 | $38.4M | $32.4M | ||
| Q1 25 | $41.3M | $107.5M | ||
| Q4 24 | $116.8M | $41.9M | ||
| Q3 24 | $34.7M | $57.6M | ||
| Q2 24 | $34.4M | $48.8M | ||
| Q1 24 | $20.1M | $83.5M |
| Q4 25 | 143.7% | 42.8% | ||
| Q3 25 | 44.6% | 52.7% | ||
| Q2 25 | 40.1% | 19.8% | ||
| Q1 25 | 46.2% | 67.3% | ||
| Q4 24 | 126.4% | 26.3% | ||
| Q3 24 | 38.3% | 37.4% | ||
| Q2 24 | 40.5% | 32.8% | ||
| Q1 24 | 24.4% | 57.2% |
| Q4 25 | 3.9% | 0.4% | ||
| Q3 25 | 0.0% | 0.5% | ||
| Q2 25 | 0.6% | 0.8% | ||
| Q1 25 | 0.5% | 1.3% | ||
| Q4 24 | 18.3% | 3.7% | ||
| Q3 24 | 5.4% | 2.2% | ||
| Q2 24 | 3.5% | 0.7% | ||
| Q1 24 | 4.0% | 1.4% |
| Q4 25 | 3.81× | 1.42× | ||
| Q3 25 | 1.10× | 1.80× | ||
| Q2 25 | 1.08× | 0.71× | ||
| Q1 25 | 1.28× | 2.31× | ||
| Q4 24 | 3.88× | 1.09× | ||
| Q3 24 | 1.22× | 1.32× | ||
| Q2 24 | 1.28× | 1.14× | ||
| Q1 24 | 0.84× | 2.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NIC
Segment breakdown not available.
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
