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Side-by-side financial comparison of NATIONAL BANKSHARES INC (NKSH) and UTAH MEDICAL PRODUCTS INC (UTMD). Click either name above to swap in a different company.

NATIONAL BANKSHARES INC is the larger business by last-quarter revenue ($15.3M vs $9.0M, roughly 1.7× UTAH MEDICAL PRODUCTS INC). NATIONAL BANKSHARES INC runs the higher net margin — 38.5% vs 28.4%, a 10.1% gap on every dollar of revenue. On growth, NATIONAL BANKSHARES INC posted the faster year-over-year revenue change (24.7% vs -1.2%). NATIONAL BANKSHARES INC produced more free cash flow last quarter ($15.2M vs $3.4M). Over the past eight quarters, NATIONAL BANKSHARES INC's revenue compounded faster (20.9% CAGR vs -10.7%).

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.

Varian Medical Systems is an American radiation oncology treatments and software maker based in Palo Alto, California. Their medical devices include linear accelerators (LINACs) and software for treating cancer and other medical conditions with radiotherapy, radiosurgery, proton therapy, and brachytherapy. The company supplies software for managing cancer clinics, radiotherapy centers, and medical oncology practices. Varian Medical Systems employs more than 7,100 people at manufacturing sites...

NKSH vs UTMD — Head-to-Head

Bigger by revenue
NKSH
NKSH
1.7× larger
NKSH
$15.3M
$9.0M
UTMD
Growing faster (revenue YoY)
NKSH
NKSH
+25.9% gap
NKSH
24.7%
-1.2%
UTMD
Higher net margin
NKSH
NKSH
10.1% more per $
NKSH
38.5%
28.4%
UTMD
More free cash flow
NKSH
NKSH
$11.8M more FCF
NKSH
$15.2M
$3.4M
UTMD
Faster 2-yr revenue CAGR
NKSH
NKSH
Annualised
NKSH
20.9%
-10.7%
UTMD

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
NKSH
NKSH
UTMD
UTMD
Revenue
$15.3M
$9.0M
Net Profit
$5.9M
$2.6M
Gross Margin
58.2%
Operating Margin
47.4%
27.0%
Net Margin
38.5%
28.4%
Revenue YoY
24.7%
-1.2%
Net Profit YoY
91.0%
-11.6%
EPS (diluted)
$0.93
$0.80

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.

Revenue
NKSH
NKSH
UTMD
UTMD
Q4 25
$15.3M
$9.0M
Q3 25
$14.2M
$9.8M
Q2 25
$13.3M
$10.0M
Q1 25
$12.8M
$9.7M
Q4 24
$12.2M
$9.2M
Q3 24
$11.7M
$10.0M
Q2 24
$10.9M
$10.4M
Q1 24
$10.4M
$11.3M
Net Profit
NKSH
NKSH
UTMD
UTMD
Q4 25
$5.9M
$2.6M
Q3 25
$4.4M
$2.6M
Q2 25
$2.3M
$3.0M
Q1 25
$3.2M
$3.0M
Q4 24
$3.1M
$2.9M
Q3 24
$2.7M
$3.6M
Q2 24
$-307.0K
$3.5M
Q1 24
$2.2M
$4.0M
Gross Margin
NKSH
NKSH
UTMD
UTMD
Q4 25
58.2%
Q3 25
57.1%
Q2 25
56.2%
Q1 25
57.0%
Q4 24
58.1%
Q3 24
58.0%
Q2 24
60.1%
Q1 24
59.7%
Operating Margin
NKSH
NKSH
UTMD
UTMD
Q4 25
47.4%
27.0%
Q3 25
37.9%
26.6%
Q2 25
20.0%
32.1%
Q1 25
30.5%
32.5%
Q4 24
30.1%
32.0%
Q3 24
27.5%
33.4%
Q2 24
-4.4%
33.1%
Q1 24
25.8%
34.2%
Net Margin
NKSH
NKSH
UTMD
UTMD
Q4 25
38.5%
28.4%
Q3 25
31.1%
26.8%
Q2 25
17.2%
30.6%
Q1 25
25.3%
31.3%
Q4 24
25.1%
31.7%
Q3 24
22.8%
35.6%
Q2 24
-2.8%
33.2%
Q1 24
20.8%
34.9%
EPS (diluted)
NKSH
NKSH
UTMD
UTMD
Q4 25
$0.93
$0.80
Q3 25
$0.69
$0.82
Q2 25
$0.36
$0.94
Q1 25
$0.51
$0.92
Q4 24
$0.50
$0.86
Q3 24
$0.42
$1.03
Q2 24
$-0.05
$0.98
Q1 24
$0.37
$1.09

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
NKSH
NKSH
UTMD
UTMD
Cash + ST InvestmentsLiquidity on hand
$59.3M
$85.8M
Total DebtLower is stronger
$225.0K
Stockholders' EquityBook value
$184.9M
$119.3M
Total Assets
$1.8B
$122.5M
Debt / EquityLower = less leverage
0.00×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NKSH
NKSH
UTMD
UTMD
Q4 25
$59.3M
$85.8M
Q3 25
$42.3M
$84.3M
Q2 25
$92.8M
$82.2M
Q1 25
$122.5M
$83.3M
Q4 24
$108.1M
$83.0M
Q3 24
$49.8M
$88.5M
Q2 24
$98.9M
$89.2M
Q1 24
$121.2M
$93.8M
Total Debt
NKSH
NKSH
UTMD
UTMD
Q4 25
$225.0K
Q3 25
Q2 25
Q1 25
$269.0K
Q4 24
$282.0K
Q3 24
Q2 24
Q1 24
Stockholders' Equity
NKSH
NKSH
UTMD
UTMD
Q4 25
$184.9M
$119.3M
Q3 25
$179.2M
$118.3M
Q2 25
$168.7M
$117.5M
Q1 25
$167.3M
$117.0M
Q4 24
$156.4M
$117.4M
Q3 24
$167.8M
$124.2M
Q2 24
$149.0M
$124.1M
Q1 24
$139.4M
$127.7M
Total Assets
NKSH
NKSH
UTMD
UTMD
Q4 25
$1.8B
$122.5M
Q3 25
$1.8B
$122.0M
Q2 25
$1.8B
$120.8M
Q1 25
$1.8B
$122.5M
Q4 24
$1.8B
$122.5M
Q3 24
$1.8B
$129.7M
Q2 24
$1.8B
$130.0M
Q1 24
$1.7B
$135.4M
Debt / Equity
NKSH
NKSH
UTMD
UTMD
Q4 25
0.00×
Q3 25
Q2 25
Q1 25
0.00×
Q4 24
0.00×
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
NKSH
NKSH
UTMD
UTMD
Operating Cash FlowLast quarter
$17.9M
$3.5M
Free Cash FlowOCF − Capex
$15.2M
$3.4M
FCF MarginFCF / Revenue
99.2%
37.2%
Capex IntensityCapex / Revenue
17.9%
1.2%
Cash ConversionOCF / Net Profit
3.04×
1.36×
TTM Free Cash FlowTrailing 4 quarters
$23.6M
$14.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NKSH
NKSH
UTMD
UTMD
Q4 25
$17.9M
$3.5M
Q3 25
$6.1M
$3.9M
Q2 25
$2.1M
$2.9M
Q1 25
$2.6M
$4.5M
Q4 24
$9.4M
$2.9M
Q3 24
$3.1M
$3.9M
Q2 24
$-3.0M
$2.8M
Q1 24
$3.8M
$5.3M
Free Cash Flow
NKSH
NKSH
UTMD
UTMD
Q4 25
$15.2M
$3.4M
Q3 25
$5.3M
$3.9M
Q2 25
$1.5M
$2.8M
Q1 25
$1.6M
$4.3M
Q4 24
$6.2M
$2.9M
Q3 24
$2.2M
$3.8M
Q2 24
$-4.0M
$2.7M
Q1 24
$3.5M
$5.3M
FCF Margin
NKSH
NKSH
UTMD
UTMD
Q4 25
99.2%
37.2%
Q3 25
37.4%
39.2%
Q2 25
11.5%
28.4%
Q1 25
12.5%
44.1%
Q4 24
50.5%
32.0%
Q3 24
18.5%
37.7%
Q2 24
-36.3%
25.5%
Q1 24
33.8%
46.3%
Capex Intensity
NKSH
NKSH
UTMD
UTMD
Q4 25
17.9%
1.2%
Q3 25
5.6%
0.3%
Q2 25
4.1%
0.5%
Q1 25
7.5%
1.9%
Q4 24
26.6%
0.1%
Q3 24
8.3%
0.9%
Q2 24
9.3%
1.1%
Q1 24
3.0%
0.2%
Cash Conversion
NKSH
NKSH
UTMD
UTMD
Q4 25
3.04×
1.36×
Q3 25
1.38×
1.47×
Q2 25
0.90×
0.94×
Q1 25
0.79×
1.47×
Q4 24
3.07×
1.01×
Q3 24
1.17×
1.08×
Q2 24
0.80×
Q1 24
1.77×
1.33×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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