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Side-by-side financial comparison of NICOLET BANKSHARES INC (NIC) and ThredUp Inc. (TDUP). Click either name above to swap in a different company.
NICOLET BANKSHARES INC is the larger business by last-quarter revenue ($104.0M vs $81.7M, roughly 1.3× ThredUp Inc.). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -7.9%, a 46.7% gap on every dollar of revenue. On growth, ThredUp Inc. posted the faster year-over-year revenue change (14.6% vs 12.5%). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% CAGR vs 10.6%).
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.
ThredUp Inc. is an American company that operates an online resale platform specializing in the sale of second-hand clothing, footwear, and accessories. Founded in 2009 and headquartered in Oakland, California, it has established itself as one of the leading resale fashion marketplaces.
NIC vs TDUP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $104.0M | $81.7M |
| Net Profit | $40.3M | $-6.5M |
| Gross Margin | — | 79.2% |
| Operating Margin | 48.3% | 12.8% |
| Net Margin | 38.8% | -7.9% |
| Revenue YoY | 12.5% | 14.6% |
| Net Profit YoY | 16.9% | -24.1% |
| EPS (diluted) | $2.63 | $-0.05 |
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.
| Q1 26 | — | $81.7M | ||
| Q4 25 | $104.0M | $79.7M | ||
| Q3 25 | $102.9M | $82.2M | ||
| Q2 25 | $95.7M | $77.7M | ||
| Q1 25 | $89.4M | $71.3M | ||
| Q4 24 | $92.4M | $67.3M | ||
| Q3 24 | $90.7M | $61.5M | ||
| Q2 24 | $85.0M | $66.7M |
| Q1 26 | — | $-6.5M | ||
| Q4 25 | $40.3M | $-5.6M | ||
| Q3 25 | $41.7M | $-4.2M | ||
| Q2 25 | $36.0M | $-5.2M | ||
| Q1 25 | $32.6M | $-5.2M | ||
| Q4 24 | $34.5M | $-21.7M | ||
| Q3 24 | $32.5M | $-24.8M | ||
| Q2 24 | $29.3M | $-14.0M |
| Q1 26 | — | 79.2% | ||
| Q4 25 | — | 79.6% | ||
| Q3 25 | — | 79.4% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | — | 80.4% | ||
| Q3 24 | — | 79.3% | ||
| Q2 24 | — | 78.8% |
| Q1 26 | — | 12.8% | ||
| Q4 25 | 48.3% | -8.4% | ||
| Q3 25 | 50.4% | -5.3% | ||
| Q2 25 | 46.8% | -6.8% | ||
| Q1 25 | 44.9% | -7.6% | ||
| Q4 24 | 46.8% | -12.1% | ||
| Q3 24 | 45.0% | -17.0% | ||
| Q2 24 | 43.3% | -14.4% |
| Q1 26 | — | -7.9% | ||
| Q4 25 | 38.8% | -7.0% | ||
| Q3 25 | 40.6% | -5.2% | ||
| Q2 25 | 37.6% | -6.7% | ||
| Q1 25 | 36.4% | -7.3% | ||
| Q4 24 | 37.3% | -32.3% | ||
| Q3 24 | 35.8% | -40.3% | ||
| Q2 24 | 34.5% | -20.9% |
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $2.63 | $-0.06 | ||
| Q3 25 | $2.73 | $-0.03 | ||
| Q2 25 | $2.34 | $-0.04 | ||
| Q1 25 | $2.08 | $-0.04 | ||
| Q4 24 | $2.21 | $-0.19 | ||
| Q3 24 | $2.10 | $-0.22 | ||
| Q2 24 | $1.92 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $39.0M |
| Total DebtLower is stronger | $134.9M | $17.7M |
| Stockholders' EquityBook value | $1.3B | $59.4M |
| Total Assets | $9.2B | $172.4M |
| Debt / EquityLower = less leverage | 0.11× | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.0M | ||
| Q4 25 | — | $38.6M | ||
| Q3 25 | — | $46.2M | ||
| Q2 25 | — | $41.0M | ||
| Q1 25 | — | $41.1M | ||
| Q4 24 | — | $31.9M | ||
| Q3 24 | — | $43.7M | ||
| Q2 24 | — | $44.8M |
| Q1 26 | — | $17.7M | ||
| 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 26 | — | $59.4M | ||
| Q4 25 | $1.3B | $59.2M | ||
| Q3 25 | $1.2B | $59.1M | ||
| Q2 25 | $1.2B | $60.2M | ||
| Q1 25 | $1.2B | $56.1M | ||
| Q4 24 | $1.2B | $56.3M | ||
| Q3 24 | $1.1B | $69.3M | ||
| Q2 24 | $1.1B | $86.5M |
| Q1 26 | — | $172.4M | ||
| Q4 25 | $9.2B | $167.2M | ||
| Q3 25 | $9.0B | $172.5M | ||
| Q2 25 | $8.9B | $173.6M | ||
| Q1 25 | $9.0B | $172.5M | ||
| Q4 24 | $8.8B | $171.2M | ||
| Q3 24 | $8.6B | $214.9M | ||
| Q2 24 | $8.6B | $231.2M |
| Q1 26 | — | 0.30× | ||
| 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× | — |
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 | $4.8M |
| Free Cash FlowOCF − Capex | $149.4M | — |
| FCF MarginFCF / Revenue | 143.7% | — |
| Capex IntensityCapex / Revenue | 3.9% | — |
| Cash ConversionOCF / Net Profit | 3.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $275.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.8M | ||
| Q4 25 | $153.5M | $-1.5M | ||
| Q3 25 | $45.9M | $6.0M | ||
| Q2 25 | $38.9M | $344.0K | ||
| Q1 25 | $41.8M | $5.7M | ||
| Q4 24 | $133.7M | $663.0K | ||
| Q3 24 | $39.6M | $3.3M | ||
| Q2 24 | $37.3M | $-5.0M |
| Q1 26 | — | — | ||
| Q4 25 | $149.4M | $-3.2M | ||
| Q3 25 | $45.9M | $2.4M | ||
| Q2 25 | $38.4M | $-2.9M | ||
| Q1 25 | $41.3M | $3.9M | ||
| Q4 24 | $116.8M | $-1.8M | ||
| Q3 24 | $34.7M | $1.2M | ||
| Q2 24 | $34.4M | $-5.8M |
| Q1 26 | — | — | ||
| Q4 25 | 143.7% | -4.0% | ||
| Q3 25 | 44.6% | 2.9% | ||
| Q2 25 | 40.1% | -3.8% | ||
| Q1 25 | 46.2% | 5.5% | ||
| Q4 24 | 126.4% | -2.7% | ||
| Q3 24 | 38.3% | 2.0% | ||
| Q2 24 | 40.5% | -8.7% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 2.2% | ||
| Q3 25 | 0.0% | 4.4% | ||
| Q2 25 | 0.6% | 4.2% | ||
| Q1 25 | 0.5% | 2.5% | ||
| Q4 24 | 18.3% | 3.7% | ||
| Q3 24 | 5.4% | 3.5% | ||
| Q2 24 | 3.5% | 1.3% |
| Q1 26 | — | — | ||
| 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× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
