NICE

MKT CAP:$6B

NICE Ltd.

Market Cap

$6B

Technology·Software - Application·🇮🇱 Israel·NASDAQ

Technology·Software App·🇮🇱·NASDAQ

Stock Price

$98.46-$13.48 (-12.04%)

Apr 23, 2026

Company Details

NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform that supports contact centers ranging from small single sites to distribut...

CEO

Scott E. Russell

IPO Date

Jan 25, 1996

Website

www.nice.com

Key Metrics TTM

Revenue

$3.0B

+7.9% YoY

Net Income

$613M

EPS (Diluted)

$9.69

Free Cash Flow

$665M

Revenue / Share

$47.15

Gross Margin

66.4%

Operating Margin

21.9%

Net Margin

20.8%

FCF Margin

22.5%

P/S

2.1x

P/E

9.9x

Earnings Reports

FY 2025

Feb 26, 2026

$3.0B+8.5%EPS $9.75

Q4 2025

Feb 26, 2026

$791M+9.7%EPS $2.43

Q3 2025

Nov 13, 2025

$732M+6.1%EPS $2.29

Q2 2025

Aug 14, 2025

$727M+9.4%EPS $2.96

Q1 2025

May 15, 2025

$700M+6.2%EPS $2.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$527M	$360M	$72M
Q2 22	$531M	$366M	$85M
Q3 22	$555M	$384M	$90M
Q4 22	$569M	$388M	$88M
Q1 23	$572M	$385M	$94M
Q2 23	$581M	$391M	$105M
Q3 23	$601M	$410M	$114M
Q4 23	$623M	$422M	$123M
Q1 24	$659M	$437M	$121M
Q2 24	$664M	$440M	$129M
Q3 24	$690M	$460M	$141M
Q4 24	$722M	$489M	$154M
Q1 25	$700M	$468M	$148M
Q2 25	$727M	$485M	$161M
Q3 25	$732M	$489M	$161M
Q4 25	$791M	$517M	$177M

Valuation

Quarter	P/S	P/E
Q1 22	3.1x	28.2x
Q2 22	2.9x	26.5x
Q3 22	2.9x	24.4x
Q4 22	2.8x	22.9x
Q1 23	2.7x	21.4x
Q2 23	2.7x	19.8x
Q3 23	2.6x	18.6x
Q4 23	2.6x	18.0x
Q1 24	2.5x	16.6x
Q2 24	2.4x	15.4x
Q3 24	2.3x	14.3x
Q4 24	2.2x	13.8x
Q1 25	2.2x	13.1x
Q2 25	2.1x	11.3x
Q3 25	2.1x	10.8x
Q4 25	2.1x	9.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$193M	$172M
Q2 22	$16M	-$2M
Q3 22	$94M	$75M
Q4 22	$177M	$153M
Q1 23	$195M	$168M
Q2 23	$65M	$46M
Q3 23	$121M	$103M
Q4 23	$180M	$161M
Q1 24	$254M	$228M
Q2 24	$170M	$148M
Q3 24	$159M	$132M
Q4 24	$250M	$225M
Q1 25	$285M	$265M
Q2 25	$61M	$39M
Q3 25	$191M	$183M
Q4 25	$181M	$178M

Capital Expenditures

Quarter	CapEx
Q1 22	$20M
Q2 22	$18M
Q3 22	$19M
Q4 22	$24M
Q1 23	$27M
Q2 23	$19M
Q3 23	$18M
Q4 23	$20M
Q1 24	$26M
Q2 24	$22M
Q3 24	$27M
Q4 24	$24M
Q1 25	$20M
Q2 25	$23M
Q3 25	$7M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+28.7%	+30.8%
Q2 22	+16.6%	+14.8%
Q3 22	+13.1%	+9.0%
Q4 22	+9.4%	+6.7%
Q1 23	+8.4%	+5.1%
Q2 23	+9.5%	+6.7%
Q3 23	+8.4%	+5.0%
Q4 23	+9.6%	+4.1%
Q1 24	+15.3%	+12.4%
Q2 24	+14.3%	+12.6%
Q3 24	+14.7%	+12.5%
Q4 24	+15.8%	+13.3%
Q1 25	+6.2%	+2.6%
Q2 25	+9.4%	+5.7%
Q3 25	+6.1%	+4.1%
Q4 25	+9.7%	+8.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$48M	9.1%
Q2 22	$43M	8.1%
Q3 22	$42M	7.6%
Q4 22	$49M	8.6%
Q1 23	$45M	7.9%
Q2 23	$39M	6.8%
Q3 23	$46M	7.7%
Q4 23	$46M	7.4%
Q1 24	$44M	6.7%
Q2 24	$42M	6.4%
Q3 24	$47M	6.8%
Q4 24	$48M	6.7%
Q1 25	$43M	6.2%
Q2 25	$37M	5.1%
Q3 25	$37M	5.1%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$77M	$59M	$153M	—
Q2 22	$73M	$57M	$150M	—
Q3 22	$74M	$61M	$159M	—
Q4 22	$84M	$70M	$148M	—
Q1 23	$78M	$65M	$148M	—
Q2 23	$79M	$55M	$152M	—
Q3 23	$85M	$68M	$144M	—
Q4 23	$81M	$64M	$155M	—
Q1 24	$88M	$72M	$155M	—
Q2 24	$87M	$67M	$158M	—
Q3 24	$92M	$74M	$153M	—
Q4 24	$95M	$65M	$177M	—
Q1 25	$89M	$69M	$161M	—
Q2 25	$90M	$65M	$170M	—
Q3 25	$90M	$67M	$162M	—
Q4 25	$92M	—	—	$248M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	28.7%	22.1%	50.8
Q2 22	16.6%	23.9%	40.5
Q3 22	13.1%	24.0%	37.1
Q4 22	9.4%	23.8%	33.2
Q1 23	8.4%	25.2%	33.6
Q2 23	9.5%	27.0%	36.5
Q3 23	8.4%	25.9%	34.3
Q4 23	9.6%	30.5%	40.1
Q1 24	15.3%	26.3%	41.6
Q2 24	14.3%	29.5%	43.8
Q3 24	14.7%	28.3%	43.0
Q4 24	15.8%	27.8%	43.6
Q1 25	6.2%	27.4%	33.6
Q2 25	9.4%	28.2%	37.6
Q3 25	6.1%	29.8%	35.9
Q4 25	9.7%	31.1%	40.8

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$472M	$1.0B	$1.5B
Q2 22	$382M	$1.1B	$1.4B
Q3 22	$423M	$1.0B	$1.5B
Q4 22	$530M	$1.0B	$1.6B
Q1 23	$631M	$1.1B	$1.7B
Q2 23	$598M	$1.1B	$1.7B
Q3 23	$713M	$939M	$1.7B
Q4 23	$512M	$896M	$1.4B
Q1 24	$793M	$710M	$1.5B
Q2 24	$740M	$764M	$1.5B
Q3 24	$667M	$860M	$1.5B
Q4 24	$482M	$1.1B	$1.6B
Q1 25	$470M	$1.1B	$1.6B
Q2 25	$535M	$1.1B	$1.6B
Q3 25	$418M	$38M	$456M
Q4 25	$382M	$38M	$420M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	67M	-0.6%	+0.9%
Q2 22	66M	-0.9%	-0.7%
Q3 22	66M	+0.3%	-1.0%
Q4 22	66M	-0.2%	-1.4%
Q1 23	67M	+0.6%	-0.3%
Q2 23	66M	-0.3%	+0.2%
Q3 23	66M	-0.3%	-0.3%
Q4 23	66M	-0.7%	-0.8%
Q1 24	67M	+1.2%	-0.2%
Q2 24	66M	-1.0%	-0.9%
Q3 24	65M	-1.5%	-2.1%
Q4 24	65M	-0.1%	-1.4%
Q1 25	64M	-0.7%	-3.2%
Q2 25	63M	-1.8%	-4.0%
Q3 25	63M	-0.1%	-2.6%
Q4 25	63M	-0.9%	-3.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$74.3K	7K
Q2 22	$74.7K	7K
Q3 22	$78.1K	7K
Q4 22	$71.7K	8K
Q1 23	$72.1K	8K
Q2 23	$73.3K	8K
Q3 23	$75.9K	8K
Q4 23	$74.3K	8K
Q1 24	$78.6K	8K
Q2 24	$79.2K	8K
Q3 24	$82.3K	8K
Q4 24	$82.7K	9K
Q1 25	$80.2K	9K
Q2 25	$83.3K	9K
Q3 25	$83.9K	9K
Q4 25	$82.2K	10K

Revenue / Employee