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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $104.0M, roughly 2.0× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -3.1%, a 41.9% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs -6.7%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
NIC vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $207.0M |
| Net Profit | $40.3M | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | 48.3% | 2.2% |
| Net Margin | 38.8% | -3.1% |
| Revenue YoY | 12.5% | -6.7% |
| Net Profit YoY | 16.9% | -531.8% |
| EPS (diluted) | $2.63 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $102.9M | $180.2M | ||
| Q2 25 | $95.7M | $207.4M | ||
| Q1 25 | $89.4M | $211.1M | ||
| Q4 24 | $92.4M | $221.9M | ||
| Q3 24 | $90.7M | $194.0M | ||
| Q2 24 | $85.0M | $172.5M | ||
| Q1 24 | $82.2M | $85.0M |
| Q4 25 | $40.3M | $-6.4M | ||
| Q3 25 | $41.7M | $-76.7M | ||
| Q2 25 | $36.0M | $-10.1M | ||
| Q1 25 | $32.6M | $975.0K | ||
| Q4 24 | $34.5M | $1.5M | ||
| Q3 24 | $32.5M | $-9.3M | ||
| Q2 24 | $29.3M | $-7.3M | ||
| Q1 24 | $27.8M | $-2.1M |
| Q4 25 | 48.3% | 2.2% | ||
| Q3 25 | 50.4% | -4.4% | ||
| Q2 25 | 46.8% | 0.3% | ||
| Q1 25 | 44.9% | 5.1% | ||
| Q4 24 | 46.8% | 5.5% | ||
| Q3 24 | 45.0% | -1.9% | ||
| Q2 24 | 43.3% | 0.6% | ||
| Q1 24 | 41.8% | -0.7% |
| Q4 25 | 38.8% | -3.1% | ||
| Q3 25 | 40.6% | -42.6% | ||
| Q2 25 | 37.6% | -4.9% | ||
| Q1 25 | 36.4% | 0.5% | ||
| Q4 24 | 37.3% | 0.7% | ||
| Q3 24 | 35.8% | -4.8% | ||
| Q2 24 | 34.5% | -4.3% | ||
| Q1 24 | 33.8% | -2.4% |
| Q4 25 | $2.63 | $-0.50 | ||
| Q3 25 | $2.73 | $-2.75 | ||
| Q2 25 | $2.34 | $-0.59 | ||
| Q1 25 | $2.08 | $-0.21 | ||
| Q4 24 | $2.21 | $-0.18 | ||
| Q3 24 | $2.10 | $-0.53 | ||
| Q2 24 | $1.92 | $-0.38 | ||
| Q1 24 | $1.82 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.2M |
| Total DebtLower is stronger | $134.9M | $354.2M |
| Stockholders' EquityBook value | $1.3B | $-75.8M |
| Total Assets | $9.2B | $884.2M |
| Debt / EquityLower = less leverage | 0.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.2M | ||
| Q3 25 | — | $5.5M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $21.4M | ||
| Q4 24 | — | $27.6M | ||
| Q3 24 | — | $28.2M | ||
| Q2 24 | — | $32.2M | ||
| Q1 24 | — | $15.4M |
| Q4 25 | $134.9M | $354.2M | ||
| Q3 25 | $134.6M | $355.0M | ||
| Q2 25 | $134.3M | $347.4M | ||
| Q1 25 | $156.6M | $348.3M | ||
| Q4 24 | $161.4M | $348.3M | ||
| Q3 24 | $161.2M | $349.1M | ||
| Q2 24 | $162.4M | $350.0M | ||
| Q1 24 | $162.3M | $73.5M |
| Q4 25 | $1.3B | $-75.8M | ||
| Q3 25 | $1.2B | $-61.5M | ||
| Q2 25 | $1.2B | $23.0M | ||
| Q1 25 | $1.2B | $40.5M | ||
| Q4 24 | $1.2B | $45.9M | ||
| Q3 24 | $1.1B | $51.4M | ||
| Q2 24 | $1.1B | $68.1M | ||
| Q1 24 | $1.1B | $68.3M |
| Q4 25 | $9.2B | $884.2M | ||
| Q3 25 | $9.0B | $879.5M | ||
| Q2 25 | $8.9B | $935.7M | ||
| Q1 25 | $9.0B | $956.0M | ||
| Q4 24 | $8.8B | $960.1M | ||
| Q3 24 | $8.6B | $953.5M | ||
| Q2 24 | $8.6B | $945.9M | ||
| Q1 24 | $8.4B | $309.3M |
| Q4 25 | 0.11× | — | ||
| Q3 25 | 0.11× | — | ||
| Q2 25 | 0.11× | 15.07× | ||
| Q1 25 | 0.13× | 8.61× | ||
| Q4 24 | 0.14× | 7.59× | ||
| Q3 24 | 0.14× | 6.79× | ||
| Q2 24 | 0.15× | 5.14× | ||
| Q1 24 | 0.15× | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $149.4M | $-329.0K |
| FCF MarginFCF / Revenue | 143.7% | -0.2% |
| Capex IntensityCapex / Revenue | 3.9% | 6.5% |
| Cash ConversionOCF / Net Profit | 3.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $153.5M | $13.1M | ||
| Q3 25 | $45.9M | $5.9M | ||
| Q2 25 | $38.9M | $2.8M | ||
| Q1 25 | $41.8M | $8.5M | ||
| Q4 24 | $133.7M | $18.5M | ||
| Q3 24 | $39.6M | $19.1M | ||
| Q2 24 | $37.3M | $-3.8M | ||
| Q1 24 | $23.4M | $10.4M |
| Q4 25 | $149.4M | $-329.0K | ||
| Q3 25 | $45.9M | $-6.1M | ||
| Q2 25 | $38.4M | $-15.0M | ||
| Q1 25 | $41.3M | $-5.8M | ||
| Q4 24 | $116.8M | $733.0K | ||
| Q3 24 | $34.7M | $287.0K | ||
| Q2 24 | $34.4M | $-23.0M | ||
| Q1 24 | $20.1M | $-5.4M |
| Q4 25 | 143.7% | -0.2% | ||
| Q3 25 | 44.6% | -3.4% | ||
| Q2 25 | 40.1% | -7.2% | ||
| Q1 25 | 46.2% | -2.7% | ||
| Q4 24 | 126.4% | 0.3% | ||
| Q3 24 | 38.3% | 0.1% | ||
| Q2 24 | 40.5% | -13.3% | ||
| Q1 24 | 24.4% | -6.4% |
| Q4 25 | 3.9% | 6.5% | ||
| Q3 25 | 0.0% | 6.7% | ||
| Q2 25 | 0.6% | 8.6% | ||
| Q1 25 | 0.5% | 6.8% | ||
| Q4 24 | 18.3% | 8.0% | ||
| Q3 24 | 5.4% | 9.7% | ||
| Q2 24 | 3.5% | 11.1% | ||
| Q1 24 | 4.0% | 18.6% |
| Q4 25 | 3.81× | — | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | 1.08× | — | ||
| Q1 25 | 1.28× | 8.76× | ||
| Q4 24 | 3.88× | 12.54× | ||
| 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.
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
