NASDAQ : NICE
NICE Ltd. — Financial statements
Technology · Software - Application · Israel
Last price 114.99 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 6.72B
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Financial statements
NICE Ltd. (NICE) reported revenue of 3.07B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.07B | 2.95B | 2.74B | 2.38B | 2.18B | 1.92B |
| Cost of Revenue | 1.07B | 989.25M | 909.52M | 768.17M | 683.69M | 624.46M |
| Gross Profit | 2.00B | 1.96B | 1.83B | 1.61B | 1.50B | 1.30B |
| Selling, General & Admin | 1.04B | 940.87M | 916.02M | 837.41M | 856.31M | 759.84M |
| Research & Development | 381.89M | 360.45M | 360.61M | 322.71M | 306.07M | 271.19M |
| Operating Expenses | 1.42B | 1.30B | 1.28B | 1.16B | 1.16B | 1.03B |
| Operating Income | 580.63M | 654.82M | 549.12M | 449.21M | 335.22M | 265.67M |
| Interest Expense | -764.00K | -1.21M | -1.88M | -5.72M | -5.71M | -16.38M |
| Interest & Investment Income | 28.44M | 54.47M | 64.98M | 34.07M | 18.38M | 13.95M |
| Currency Exchange Gain (Loss) | 25.06M | 7.23M | -466.00K | -3.30M | -301.00K | -4.13M |
| Other Non Operating Income (Expenses) | -2.23M | -2.23M | -3.77M | -2.53M | -1.00M | -2.76M |
| EBT Excluding Unusual Items | 631.14M | 713.08M | 607.99M | 471.74M | 346.59M | 256.35M |
| Merger & Restructuring Charges | -12.88M | -9.07M | -3.17M | -13.99M | -48.00K | -1.76M |
| Other Unusual Items | -53.00K | -1.21M | -13.97M | |||
| Pretax Income | 618.26M | 704.02M | 604.83M | 457.70M | 345.33M | 240.62M |
| Income Tax Expense | 192.81M | 91.92M | 162.24M | 119.40M | 79.39M | 41.40M |
| Earnings From Continuing Operations | 425.45M | 612.10M | 442.59M | 338.30M | 265.94M | 199.22M |
| Net Income | 425.45M | 612.10M | 442.59M | 338.30M | 265.94M | 199.22M |
| Net Income to Common | 425.45M | 612.10M | 442.59M | 338.30M | 265.94M | 199.22M |
| Shares Outstanding (Basic) | 60.64M | 62.33M | 63.48M | 63.59M | 63.79M | 63.19M |
| Shares Outstanding (Diluted) | 61.43M | 63.32M | 65.51M | 66.27M | 66.47M | 66.90M |
| EPS (Basic) | 7.02 | 9.82 | 6.97 | 5.32 | 4.17 | 3.15 |
| EPS (Diluted) | 6.93 | 9.67 | 6.76 | 5.11 | 4.00 | 2.98 |
| Free Cash Flow | 644.17M | 697.63M | 797.68M | 532.23M | 447.82M | 437.05M |
| Free Cash Flow Per Share | 10.49 | 11.02 | 12.18 | 8.03 | 6.74 | 6.53 |
| Gross Margin | 65.12% | 66.41% | 66.75% | 67.69% | 68.66% | 67.50% |
| Operating Margin | 18.92% | 22.23% | 20.08% | 18.89% | 15.37% | 13.83% |
| Profit Margin | 13.86% | 20.78% | 16.18% | 14.23% | 12.19% | 10.37% |
| Free Cash Flow Margin | 20.99% | 23.69% | 29.16% | 22.39% | 20.53% | 22.75% |
| EBITDA | 815.83M | 853.87M | 754.14M | 616.57M | 511.77M | 449.76M |
| EBITDA Margin | 26.58% | 28.99% | 27.57% | 25.93% | 23.46% | 23.41% |
| D&A For EBITDA | 235.21M | 199.04M | 205.02M | 167.36M | 176.55M | 184.09M |
| EBIT | 580.63M | 654.82M | 549.12M | 449.21M | 335.22M | 265.67M |
| EBIT Margin | 18.92% | 22.23% | 20.08% | 18.89% | 15.37% | 13.83% |
| Effective Tax Rate | 31.19% | 13.06% | 26.82% | 26.09% | 22.99% | 17.20% |
| Revenue as Reported | 3.07B | 2.95B | 2.74B | 2.38B | 2.18B | 1.92B |
| Advertising Expenses | 47.74M | 58.12M | 50.74M | 43.98M | 31.57M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 315.38M | 379.39M | 481.71M | 511.80M | 529.60M | 378.66M |
| Short-Term Investments | 39.31M | 38.01M | 1.14B | 896.04M | 1.04B | 1.05B |
| Cash & Short-Term Investments | 354.69M | 417.40M | 1.62B | 1.41B | 1.57B | 1.42B |
| Accounts Receivable | 836.59M | 737.95M | 643.99M | 585.15M | 518.52M | 395.58M |
| Other Receivables | 94.92M | 115.79M | 91.58M | 89.66M | 98.50M | |
| Receivables | 836.59M | 832.87M | 759.77M | 676.73M | 608.18M | 494.08M |
| Prepaid Expenses | 273.38M | 109.69M | 105.91M | 90.02M | 95.09M | 76.71M |
| Other Current Assets | 19.17M | 17.38M | 138.29M | 142.33M | 302.34M | |
| Total Current Assets | 1.47B | 1.38B | 2.50B | 2.31B | 2.42B | 2.30B |
| Property, Plant & Equipment | 278.70M | 132.73M | 152.40M | 163.86M | 162.07M | 148.51M |
| Goodwill | 2.44B | 2.44B | 1.85B | 1.82B | 1.62B | 1.61B |
| Other Intangible Assets | 515.88M | 722.33M | 357.32M | 420.62M | 309.71M | 377.57M |
| Long-Term Deferred Tax Assets | 173.26M | 198.21M | 219.23M | 178.97M | 116.89M | 55.25M |
| Long-Term Deferred Charges | 127.75M | 118.53M | 129.69M | 138.86M | 138.34M | |
| Other Long-Term Assets | 246.38M | 105.35M | 93.98M | 89.64M | 92.64M | 86.10M |
| Total Assets | 5.12B | 5.11B | 5.30B | 5.12B | 4.85B | 4.71B |
| Accounts Payable | 104.09M | 100.78M | 110.60M | 66.04M | 56.02M | 36.12M |
| Accrued Expenses | 635.02M | 467.34M | 590.27M | 526.08M | 509.84M | 485.88M |
| Current Portion of Long-Term Debt | 458.79M | 209.23M | 209.29M | 395.95M | ||
| Current Portion of Leases | 14.03M | 13.74M | 12.55M | 13.75M | 13.53M | 19.51M |
| Current Unearned Revenue | 351.76M | 303.91M | 299.37M | 302.65M | 338.93M | 330.46M |
| Other Current Liabilities | 1.85M | 2.84M | 2.58M | 13.61M | 1.67M | |
| Total Current Liabilities | 1.10B | 887.63M | 1.47B | 1.12B | 1.14B | 1.27B |
| Long-Term Debt | 457.08M | 455.38M | 429.27M | |||
| Long-Term Leases | 74.19M | 75.06M | 92.26M | 102.91M | 99.26M | 81.19M |
| Long-Term Unearned Revenue | 48.55M | 61.39M | 66.29M | 52.46M | 57.21M | 66.61M |
| Long-Term Deferred Tax Liabilities | 17.59M | 109.99M | 1.97M | 8.60M | 7.34M | 7.43M |
| Other Long-Term Liabilities | 98.20M | 95.43M | 57.81M | 21.77M | 38.59M | 18.38M |
| Total Liabilities | 1.34B | 1.23B | 1.69B | 1.76B | 1.80B | 1.87B |
| Common Stock | 3.78B | 18.96M | 18.96M | 18.96M | 18.96M | 18.96M |
| Additional Paid-In Capital | 2.38B | 2.28B | 2.12B | 1.95B | 1.82B | |
| Retained Earnings | 3.31B | 2.70B | 2.26B | 1.93B | 1.65B | |
| Treasury Stock | -1.80B | -1.34B | -1.01B | -743.05M | -625.81M | |
| Comprehensive Income & Other | -35.69M | -71.07M | -59.11M | -111.25M | -39.74M | |
| Total Common Equity | 3.78B | 3.88B | 3.59B | 3.34B | 3.04B | 2.83B |
| Minority Interest | 13.42M | 13.37M | 13.34M | 12.87M | ||
| Shareholders' Equity | 3.78B | 3.88B | 3.60B | 3.35B | 3.06B | 2.84B |
| Total Liabilities & Equity | 5.12B | 5.11B | 5.30B | 5.12B | 4.85B | 4.71B |
| Total Debt | 88.22M | 88.80M | 563.60M | 782.97M | 777.46M | 925.91M |
| Net Cash (Debt) | 266.47M | 328.60M | 1.06B | 624.87M | 794.08M | 498.84M |
| Net Cash Per Share | 4.34 | 5.19 | 16.15 | 9.43 | 11.95 | 7.46 |
| Filing Date Shares Outstanding | 58.82M | 59.40M | 63.25M | 63.06M | 63.60M | 63.44M |
| Total Common Shares Outstanding | 58.82M | 60.43M | 63.25M | 62.87M | 63.63M | 63.48M |
| Working Capital | 363.54M | 491.50M | 1.03B | 1.19B | 1.28B | 1.03B |
| Book Value Per Share | 64.23 | 64.15 | 56.75 | 53.14 | 47.81 | 44.51 |
| Tangible Book Value | 823.35M | 713.66M | 1.38B | 1.10B | 1.12B | 840.75M |
| Tangible Book Value Per Share | 14.00 | 11.81 | 21.86 | 17.47 | 17.53 | 13.25 |
| Machinery | 90.82M | 70.92M | 252.82M | 238.17M | 214.43M | |
| Leasehold Improvements | 29.34M | 28.62M | 41.90M | 59.80M | 56.84M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 425.45M | 612.10M | 442.59M | 338.30M | 265.94M | 199.22M |
| Depreciation & Amortization | 235.21M | 199.04M | 205.02M | 167.36M | 176.55M | 184.09M |
| Other Amortization | 361.00K | 1.21M | 1.83M | 4.62M | 4.58M | 14.47M |
| Loss (Gain) From Sale of Investments | 1.11M | -3.00M | -9.86M | 14.75M | 8.32M | 11.87M |
| Stock-Based Compensation | 153.46M | 146.05M | 182.07M | 176.66M | 182.70M | 153.03M |
| Other Operating Activities | -42.68M | 11.24M | -41.65M | -82.21M | -51.23M | -27.09M |
| Change in Accounts Receivable | -149.11M | -75.79M | -61.02M | -34.29M | -129.71M | -85.78M |
| Change in Accounts Payable | 21.16M | -15.12M | 43.97M | 3.43M | 19.92M | -389.00K |
| Change in Unearned Revenue | -36.41M | -22.83M | 3.05M | -45.95M | 6.42M | 30.77M |
| Change in Other Net Operating Assets | 63.52M | -136.35M | 66.65M | 18.77M | -3.79M | -18.38M |
| Operating Cash Flow | 672.06M | 716.55M | 832.64M | 561.43M | 479.71M | 461.82M |
| Capital Expenditures | -27.89M | -18.92M | -34.96M | -29.20M | -31.89M | -24.77M |
| Cash Acquisitions | -819.63M | -856.09M | -64.82M | -415.19M | -29.72M | -142.80M |
| Sale (Purchase) of Intangibles | -82.71M | -74.83M | -64.81M | -54.97M | -50.00M | -42.44M |
| Investment in Securities | 1.05B | 1.11B | -232.82M | 205.78M | -40.74M | -51.48M |
| Investing Cash Flow | 117.68M | 159.96M | -397.40M | -293.58M | -152.35M | -261.50M |
| Long-Term Debt Repaid | -460.00M | -192.11M | -2.63M | -20.13M | -177.31M | |
| Net Debt Issued (Repaid) | -460.00M | -460.00M | -192.11M | -2.63M | -20.13M | -177.31M |
| Issuance of Common Stock | 11.69M | 1.11M | 3.06M | 2.57M | 953.00K | 4.43M |
| Repurchase of Common Stock | -516.95M | -488.91M | -369.20M | -288.44M | -144.94M | -73.18M |
| Other Financing Activities | -39.77M | -36.47M | 101.64M | -1.77M | -376.00K | -15.75M |
| Financing Cash Flow | -1.01B | -984.27M | -456.60M | -290.27M | -164.50M | -261.82M |
| Foreign Exchange Rate Adjustments | -2.11M | 4.73M | -6.91M | 2.64M | -8.43M | -2.11M |
| Net Cash Flow | -217.40M | -103.03M | -28.28M | -19.78M | 154.44M | -63.61M |
| Free Cash Flow | 644.17M | 697.63M | 797.68M | 532.23M | 447.82M | 437.05M |
| Free Cash Flow Margin | 20.99% | 23.69% | 29.16% | 22.39% | 20.53% | 22.75% |
| Free Cash Flow Per Share | 10.49 | 11.02 | 12.18 | 8.03 | 6.74 | 6.53 |
| Levered Free Cash Flow | 615.30M | 457.31M | 763.93M | 467.78M | 585.88M | 140.81M |
| Unlevered Free Cash Flow | 615.42M | 456.85M | 763.27M | 466.74M | 584.86M | 136.58M |
| Cash Interest Paid | 224.00K | 224.00K | 236.00K | 1.22M | 2.97M | 688.00K |
| Cash Income Tax Paid | 214.09M | 214.09M | 109.95M | 192.02M | 123.59M | 97.26M |
| Change in Working Capital | -100.84M | -250.10M | 52.64M | -58.05M | -107.16M | -73.78M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.71B | 6.92B | 10.72B | 12.74B | 12.29B | 19.31B |
| Enterprise Value | 6.45B | 6.53B | 9.76B | 11.79B | 11.60B | 18.57B |
| Last Close Price | 112.39 | 113.04 | 169.84 | 199.51 | 192.30 | 303.60 |
| PE Ratio | 17.42 | 11.30 | 24.23 | 37.65 | 46.20 | 96.95 |
| PS Ratio | 2.18 | 2.35 | 3.92 | 5.36 | 5.63 | 10.05 |
| PB Ratio | 1.77 | 1.78 | 2.98 | 3.80 | 4.02 | 6.81 |
| P/TBV Ratio | 8.14 | 9.69 | 7.75 | 11.60 | 11.02 | 22.97 |
| P/FCF Ratio | 10.41 | 9.91 | 13.44 | 23.93 | 27.43 | 44.19 |
| P/OCF Ratio | 9.98 | 9.65 | 12.88 | 22.69 | 25.61 | 41.82 |
| EV/Sales Ratio | 2.10 | 2.22 | 3.57 | 4.96 | 5.32 | 9.66 |
| EV/EBITDA Ratio | 7.91 | 7.65 | 12.94 | 19.12 | 22.68 | 41.28 |
| EV/EBIT Ratio | 11.11 | 9.98 | 17.77 | 26.24 | 34.62 | 69.88 |
| EV/FCF Ratio | 10.02 | 9.36 | 12.23 | 22.15 | 25.91 | 42.48 |
| Debt / Equity Ratio | 0.02 | 0.02 | 0.16 | 0.23 | 0.25 | 0.33 |
| Debt / EBITDA Ratio | 0.11 | 0.10 | 0.73 | 1.22 | 1.46 | 1.96 |
| Debt / FCF Ratio | 0.14 | 0.13 | 0.71 | 1.47 | 1.74 | 2.12 |
| Net Debt / Equity Ratio | -0.07 | -0.09 | -0.29 | -0.19 | -0.26 | -0.18 |
| Net Debt / EBITDA Ratio | -0.33 | -0.39 | -1.40 | -1.01 | -1.55 | -1.11 |
| Net Debt / FCF Ratio | -0.41 | -0.47 | -1.33 | -1.17 | -1.77 | -1.14 |
| Asset Turnover | 0.59 | 0.57 | 0.53 | 0.48 | 0.46 | 0.43 |
| Quick Ratio | 1.08 | 1.41 | 1.61 | 1.86 | 1.91 | 1.51 |
| Current Ratio | 1.33 | 1.55 | 1.70 | 2.06 | 2.12 | 1.81 |
| Return on Equity (ROE) | 11.33% | 16.37% | 12.72% | 10.56% | 9.03% | 7.34% |
| Return on Assets (ROA) | 6.96% | 7.87% | 6.59% | 5.63% | 4.38% | 3.71% |
| Return on Invested Capital (ROIC) | 11.46% | 18.69% | 15.24% | 13.30% | 11.22% | 10.33% |
| Return on Capital Employed (ROCE) | 14.50% | 15.50% | 14.40% | 11.20% | 9.00% | 7.70% |
| Earnings Yield | 5.74% | 8.85% | 4.13% | 2.66% | 2.17% | 1.03% |
| FCF Yield | 9.61% | 10.09% | 7.44% | 4.18% | 3.65% | 2.26% |
| Buyback Yield / Dilution | 4.47% | 3.33% | 1.15% | 0.30% | 0.64% | -1.43% |
| Total Shareholder Return | 4.47% | 3.33% | 1.15% | 0.30% | 0.64% | -1.43% |