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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $104.0M, roughly 1.2× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs 1.5%, a 37.2% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs -3.9%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $16.3M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs -4.8%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
NIC vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $124.7M |
| Net Profit | $40.3M | $1.9M |
| Gross Margin | — | 24.3% |
| Operating Margin | 48.3% | 3.3% |
| Net Margin | 38.8% | 1.5% |
| Revenue YoY | 12.5% | -3.9% |
| Net Profit YoY | 16.9% | -53.6% |
| EPS (diluted) | $2.63 | $0.04 |
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 | $124.7M | ||
| Q3 25 | $102.9M | $85.1M | ||
| Q2 25 | $95.7M | $140.8M | ||
| Q1 25 | $89.4M | $115.9M | ||
| Q4 24 | $92.4M | $129.7M | ||
| Q3 24 | $90.7M | $88.3M | ||
| Q2 24 | $85.0M | $159.1M | ||
| Q1 24 | $82.2M | $137.5M |
| Q4 25 | $40.3M | $1.9M | ||
| Q3 25 | $41.7M | $-3.4M | ||
| Q2 25 | $36.0M | $8.6M | ||
| Q1 25 | $32.6M | $2.1M | ||
| Q4 24 | $34.5M | $4.5M | ||
| Q3 24 | $32.5M | $-1.9M | ||
| Q2 24 | $29.3M | $27.9M | ||
| Q1 24 | $27.8M | $7.9M |
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 25.9% | ||
| Q2 25 | — | 28.8% | ||
| Q1 25 | — | 24.1% | ||
| Q4 24 | — | 26.6% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 35.5% | ||
| Q1 24 | — | 28.7% |
| Q4 25 | 48.3% | 3.3% | ||
| Q3 25 | 50.4% | -3.5% | ||
| Q2 25 | 46.8% | 9.3% | ||
| Q1 25 | 44.9% | 4.1% | ||
| Q4 24 | 46.8% | 5.8% | ||
| Q3 24 | 45.0% | -1.7% | ||
| Q2 24 | 43.3% | 17.4% | ||
| Q1 24 | 41.8% | 8.2% |
| Q4 25 | 38.8% | 1.5% | ||
| Q3 25 | 40.6% | -4.0% | ||
| Q2 25 | 37.6% | 6.1% | ||
| Q1 25 | 36.4% | 1.8% | ||
| Q4 24 | 37.3% | 3.5% | ||
| Q3 24 | 35.8% | -2.1% | ||
| Q2 24 | 34.5% | 17.5% | ||
| Q1 24 | 33.8% | 5.7% |
| Q4 25 | $2.63 | $0.04 | ||
| Q3 25 | $2.73 | $-0.08 | ||
| Q2 25 | $2.34 | $0.19 | ||
| Q1 25 | $2.08 | $0.05 | ||
| Q4 24 | $2.21 | $0.10 | ||
| Q3 24 | $2.10 | $-0.04 | ||
| Q2 24 | $1.92 | $0.60 | ||
| Q1 24 | $1.82 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $22.4M |
| Total DebtLower is stronger | $134.9M | — |
| Stockholders' EquityBook value | $1.3B | $363.2M |
| Total Assets | $9.2B | $548.6M |
| Debt / EquityLower = less leverage | 0.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $22.4M | ||
| Q3 25 | — | $18.0M | ||
| Q2 25 | — | $25.2M | ||
| Q1 25 | — | $26.7M | ||
| Q4 24 | — | $39.1M | ||
| Q3 24 | — | $35.5M | ||
| Q2 24 | — | $60.8M | ||
| Q1 24 | — | $47.4M |
| 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 | $363.2M | ||
| Q3 25 | $1.2B | $364.4M | ||
| Q2 25 | $1.2B | $372.5M | ||
| Q1 25 | $1.2B | $366.9M | ||
| Q4 24 | $1.2B | $371.5M | ||
| Q3 24 | $1.1B | $380.0M | ||
| Q2 24 | $1.1B | $399.9M | ||
| Q1 24 | $1.1B | $376.4M |
| Q4 25 | $9.2B | $548.6M | ||
| Q3 25 | $9.0B | $554.6M | ||
| Q2 25 | $8.9B | $559.6M | ||
| Q1 25 | $9.0B | $578.9M | ||
| Q4 24 | $8.8B | $587.4M | ||
| Q3 24 | $8.6B | $571.3M | ||
| Q2 24 | $8.6B | $577.4M | ||
| Q1 24 | $8.4B | $570.6M |
| 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 | $27.3M |
| Free Cash FlowOCF − Capex | $149.4M | $16.3M |
| FCF MarginFCF / Revenue | 143.7% | 13.1% |
| Capex IntensityCapex / Revenue | 3.9% | 8.8% |
| Cash ConversionOCF / Net Profit | 3.81× | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $153.5M | $27.3M | ||
| Q3 25 | $45.9M | $-8.1M | ||
| Q2 25 | $38.9M | $40.8M | ||
| Q1 25 | $41.8M | $-9.8M | ||
| Q4 24 | $133.7M | $-7.4M | ||
| Q3 24 | $39.6M | $-30.8M | ||
| Q2 24 | $37.3M | $43.7M | ||
| Q1 24 | $23.4M | $25.2M |
| Q4 25 | $149.4M | $16.3M | ||
| Q3 25 | $45.9M | $-12.4M | ||
| Q2 25 | $38.4M | $33.5M | ||
| Q1 25 | $41.3M | $-16.1M | ||
| Q4 24 | $116.8M | $-10.7M | ||
| Q3 24 | $34.7M | $-35.5M | ||
| Q2 24 | $34.4M | $38.2M | ||
| Q1 24 | $20.1M | $7.0M |
| Q4 25 | 143.7% | 13.1% | ||
| Q3 25 | 44.6% | -14.6% | ||
| Q2 25 | 40.1% | 23.8% | ||
| Q1 25 | 46.2% | -13.9% | ||
| Q4 24 | 126.4% | -8.3% | ||
| Q3 24 | 38.3% | -40.2% | ||
| Q2 24 | 40.5% | 24.0% | ||
| Q1 24 | 24.4% | 5.1% |
| Q4 25 | 3.9% | 8.8% | ||
| Q3 25 | 0.0% | 5.0% | ||
| Q2 25 | 0.6% | 5.2% | ||
| Q1 25 | 0.5% | 5.4% | ||
| Q4 24 | 18.3% | 2.5% | ||
| Q3 24 | 5.4% | 5.3% | ||
| Q2 24 | 3.5% | 3.5% | ||
| Q1 24 | 4.0% | 13.2% |
| Q4 25 | 3.81× | 14.22× | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | 1.08× | 4.73× | ||
| Q1 25 | 1.28× | -4.68× | ||
| Q4 24 | 3.88× | -1.63× | ||
| Q3 24 | 1.22× | — | ||
| Q2 24 | 1.28× | 1.57× | ||
| Q1 24 | 0.84× | 3.20× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
