NICE
NICENASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $93.73 Prior regular-session close from the quote source.
- $93.10–$95.05 Regular-session low and high so far today.
- 429.3K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $83.10–$136.53 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own NICE if its cloud customer-experience and financial-crime platforms remain mission-critical systems of record as AI reshapes contact centers and compliance workflows.
NICE price history
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Investment thesis
What must happen next
Enterprise migration of customer-interaction workflows to cloud and AI-enabled platforms continues to pull NICE into strategic software budgets rather than leaving it as a legacy contact-center vendor.StrengtheningMateriality: High
FY2025 annual GAAP revenue was $2.945 billion, up from $2.735 billion in FY2024. If this holds, NICE can keep compounding from a large base; if it breaks, revenue growth becomes a replacement-cycle story with lower durability.
Watch: Salesforce, Microsoft, Genesys, or Amazon Connect wins large-enterprise contact-center replacements by bundling AI, CRM, communications, and cloud infrastructure into a cheaper integrated suite.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 annual GAAP revenue was $2.945 billion, up from $2.735 billion in FY2024.
Open source ↗NICE’s software breadth and workflow specialization remain differentiated enough that cloud hosting costs and AI feature competition do not turn the product into a low-margin commodity.StrengtheningMateriality: High
FY2025 annual GAAP gross profit was $1.956 billion, up from $1.826 billion in FY2024. Gross-margin durability is the clearest test of whether NICE has pricing power or is being forced to buy growth with discounts and infrastructure spend.
Watch: Generative-AI contact-center features become table stakes and are bundled free or cheaply by Microsoft, Salesforce, or Amazon Web Services partners.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 annual GAAP gross profit was $1.956 billion, up from $1.826 billion in FY2024.
Open source ↗NICE’s scale in enterprise software distribution, implementation, and R&D lets incremental revenue convert into operating leverage rather than requiring a defensive spending surge.StrengtheningMateriality: Medium
FY2025 annual GAAP operating income was $645.8 million, up from $546.0 million in FY2024. If scale economies persist, owners get earnings growth faster than revenue growth; if AI competition forces spending higher, the quality of growth deteriorates.
Watch: An AI product arms race forces a step-change in R&D, cloud engineering, or go-to-market spending to defend NICE’s position.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 annual GAAP operating income was $645.8 million, up from $546.0 million in FY2024.
Open source ↗NICE’s enterprise software model continues to convert accounting earnings into cash that can fund product investment, acquisitions, or capital returns without balance-sheet stress.HoldingMateriality: Medium
FY2025 annual GAAP operating cash flow was $716.5 million, remaining strongly positive. Cash conversion determines whether growth is self-funded or whether shareholders face dilution, leverage, or reduced strategic flexibility.
Watch: Large enterprise customers push for longer payment terms or usage-based billing that delays cash collection.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 annual GAAP operating cash flow was $716.5 million, remaining strongly positive.
Open source ↗Per-share value creation remains driven by profitable operating performance rather than dilution-heavy acquisition or compensation practices.StrengtheningMateriality: Medium
FY2025 annual GAAP diluted EPS was $9.67, up from $6.76 in FY2024. The owner’s outcome depends on whether business growth reaches each share, not just whether the company gets larger.
Watch: Management uses stock-heavy acquisitions to buy cloud or AI capabilities, expanding revenue while diluting per-share economics.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 annual GAAP diluted EPS was $9.67, up from $6.76 in FY2024.
Open source ↗
Full investment case & evidence
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Original research
Enterprise migration of customer-interaction workflows to cloud and AI-enabled platforms continues to pull NICE into strategic software budgets rather than leaving it as a legacy contact-center vendor. If this holds, NICE can keep compounding from a large base; if it breaks, revenue growth becomes a replacement-cycle story with lower durability.
NICE’s software breadth and workflow specialization remain differentiated enough that cloud hosting costs and AI feature competition do not turn the product into a low-margin commodity. Gross-margin durability is the clearest test of whether NICE has pricing power or is being forced to buy growth with discounts and infrastructure spend.
NICE’s scale in enterprise software distribution, implementation, and R&D lets incremental revenue convert into operating leverage rather than requiring a defensive spending surge. If scale economies persist, owners get earnings growth faster than revenue growth; if AI competition forces spending higher, the quality of growth deteriorates.
NICE’s enterprise software model continues to convert accounting earnings into cash that can fund product investment, acquisitions, or capital returns without balance-sheet stress. Cash conversion determines whether growth is self-funded or whether shareholders face dilution, leverage, or reduced strategic flexibility.
Per-share value creation remains driven by profitable operating performance rather than dilution-heavy acquisition or compensation practices. The owner’s outcome depends on whether business growth reaches each share, not just whether the company gets larger.
All standing thesis claims
Original report summary
its cloud customer-experience and financial-crime platforms remain mission-critical systems of record as AI reshapes contact centers and compliance workflows.
Bull case and bear case
Bull case and bear case for NICE
Where the evidence on NICE stands: Holding on the latest evidence (Nov 7, 2026). Of its 5 thesis points, 4 strengthening and 1 holding.
Bull case: what the evidence supports
Enterprise migration of customer-interaction workflows to cloud and AI-enabled platforms continues to pull NICE into strategic software budgets rather than leaving it as a legacy contact-center vendor.
NICE’s software breadth and workflow specialization remain differentiated enough that cloud hosting costs and AI feature competition do not turn the product into a low-margin commodity.
NICE’s scale in enterprise software distribution, implementation, and R&D lets incremental revenue convert into operating leverage rather than requiring a defensive spending surge.
NICE’s enterprise software model continues to convert accounting earnings into cash that can fund product investment, acquisitions, or capital returns without balance-sheet stress.
Per-share value creation remains driven by profitable operating performance rather than dilution-heavy acquisition or compensation practices.
Bear case: what would count against it
Salesforce, Microsoft, Genesys, or Amazon Connect wins large-enterprise contact-center replacements by bundling AI, CRM, communications, and cloud infrastructure into a cheaper integrated suite.
Generative-AI contact-center features become table stakes and are bundled free or cheaply by Microsoft, Salesforce, or Amazon Web Services partners.
An AI product arms race forces a step-change in R&D, cloud engineering, or go-to-market spending to defend NICE’s position.
Thesis-Break Engine
Thesis-break watch · NICE
No break has crossed NICE’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedForeign issuer material report (6-K).
NICE filed an SEC report on 2026-11-05: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
NICE filed an SEC report on 2026-11-04: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
NICE filed an SEC report on 2026-10-29: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Salesforce, Microsoft, Genesys, or Amazon Connect wins large-enterprise contact-center replacements by bundling AI, CRM, communications, and cloud infrastructure into a cheaper integrated suite.
- Generative-AI contact-center features become table stakes and are bundled free or cheaply by Microsoft, Salesforce, or Amazon Web Services partners.
- An AI product arms race forces a step-change in R&D, cloud engineering, or go-to-market spending to defend NICE’s position.
- Large enterprise customers push for longer payment terms or usage-based billing that delays cash collection.
- Management uses stock-heavy acquisitions to buy cloud or AI capabilities, expanding revenue while diluting per-share economics.
NICE news
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Financial statements
NICE income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
NICE: quick answers
- What is NICE's short interest?
- As of October 30, 2026, 914,731 NICE shares were sold short, down 29.4% from the count before. At the stock's average daily volume that is 1.8 days to cover. FINRA publishes the count twice a month. NICE short interest history
- Which well-known investors own NICE?
- 1 of the 37 well-known funds tracked here reported NICE shares in their latest 13F filing. By share of the fund's portfolio: ARK Investment Management (Cathie Wood), 0.0%. Fund portfolios
NICE in well-known investors’ portfolios
1 of 37 funds reported NICE shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Cathie WoodARK Investment Management | 0.01% | $1.9M | +9.3% | Q2 2026 |