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Friday 6 November 2026 Export FXNC’s income statement to Excel — free account

First National Corp.

FXNC Financial Banks Regional

First National Corp.’s revenue for fiscal 2025 (year ended December 2025) was $116.5 million, up 25.7% from fiscal 2024.

Revenue
+2.05%
EPS
+14.3%
Free cash flow
+60.1%
Total debt
−41.7%

Quarter to June 2026, against a year earlier

30.37 0.02 +0.07%
Market cap
$274.9M
P/E
12.7×
Fwd P/E
11.6×
Dividend yield
2.22%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.03
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 14.06%

Capital & Financial Ratios $m

Size
Market Cap 274.88
Revenue ttm 117.63
Net income ttm 21.68
Free cash flow ttm 27.93
Net debt Q (148.41)
Valuation
P/E 12.68
Forward P/E 11.60
Price / sales 2.35
Forward P/S Powerpack
Price / FCF 9.90
Price / book 1.43
Financial health
Current ratio Q 0.88
Debt / equity Q 0.09
Interest coverage Q —
Growth
Revenue growth Q +2.05% (above 0%: growing)
Operating income growth Q +11.03% (above 0%: growing)
EPS, this year +24.06% (at or above 15%: strong)
EPS, next year A +4.82%
Revenue, next year A −16.65% (below 0%: weak)
EPS, past 5 yrs +1.49%
EPS, next 5 yrs A +12.08%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 69.20%
10-year low 10-year high
P/S against its own 10 years 71.65%
10-year low 10-year high
P/B against its own 10 years 83.65%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.22%
Annual rate
0.68
Payout ratio
28.3%
Growth, 2017–25
+20.8%/yr
  1. 0.14 ’17
  2. 0.20 ’18 +43
  3. 0.36 ’19 +80
  4. 0.44 ’20 +22
  5. 0.48 ’21 +9
  6. 0.56 ’22 +17
  7. 0.60 ’23 +7
  8. 0.61 ’24 +1
  9. 0.64 ’25 +5
  10. 0.68 ’26e +8
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 87 163 161 166
Receivables — — — —
Inventory — — — —
Other — — — —
1,049 1,619 1,602 1,645
2023 2024 2025 Q'26
Payables 1,234 1,804 1,800 1,831
ST’ Debt — — — —
Other — — — —
1,289 1,813 1,834 1,864

Compound Annual Growth %

10y 5y 3y
Sales 14.34% 23.17% 23.39%
Cash Flow 18.49% 10.72% (2.11%)
Earnings 27.64% 14.85% 1.77%
Book Value 15.02% 17.00% 19.78%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.63 Actual 0.76

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.60 0.62 Beat by 0.02
Q1 FY26 0.52 0.54 Beat by 0.02
Q2 FY26 0.59 0.63 Beat by 0.04
Q3 FY26 0.63 0.76 Beat by 0.13
Q4 FY26 0.68 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.54 0.63 — — —
’25 0.18 0.56 0.62 0.61 1.96
’24 0.51 0.39 0.36 (0.10) 1.00
’23 0.61 0.56 0.50 (0.14) 1.53
’22 0.60 0.61 0.71 0.76 2.68
’21 0.50 0.69 0.38 0.35 1.86
’20 0.34 0.46 0.36 0.65 1.82
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 28 30 — — —
’25 28 29 30 30 117
’24 20 20 21 32 93
’23 16 17 18 18 70
’22 14 15 16 18 62
’21 10 10 13 14 47
’20 10 10 11 10 41
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 6 7 — — —
’25 4 5 8 8 25
’24 5 4 6 (37) (22)
’23 5 3 3 5 16
’22 9 4 5 10 27
’21 5 (6) 13 (4) 8
’20 3 1 5 6 15
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 6 7 — — —
’25 3 4 8 7 23
’24 4 3 5 (38) (25)
’23 4 3 3 4 15
’22 8 3 4 9 26
’21 5 (6) 13 (5) 7
’20 3 0 5 6 14
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 34 36 40 41 41 47 62 70 93 117 118 +14.8% 97 102 106 (3.2%)
Gross margin, % 94.12 93.36 91.28 88.21 91.77 95.13 93.84 79.42 74.25 77.47 79.28 (16.6) pt
EBT 8 10 12 12 11 13 21 12 8 22 27 +11.5%
EBT margin, % 24.49 28.31 30.83 28.45 26.53 27.35 33.46 16.98 8.68 18.83 22.88 (5.7) pt
Net income 6 6 10 10 9 10 17 10 7 18 22 +13.0%
Per share, $
Per share, $ Revenue 6.85 7.27 8.13 8.35 8.43 8.53 9.92 11.09 13.33 12.95 13.01 +7.3%
Earnings 1.20 1.30 2.05 1.92 1.82 1.87 2.69 1.54 1.00 1.97 2.41 +5.7%
Cash flow 1.83 1.33 2.78 2.39 3.09 1.42 4.28 2.62 (3.19) 2.79 3.34 +4.8%
Capex (0.21) (0.22) (0.31) (0.21) (0.18) (0.14) (0.19) (0.29) (0.47) (0.28) (0.25) +3.3%
Free cash flow 1.62 1.11 2.47 2.18 2.92 1.27 4.09 2.33 (3.66) 2.52 3.09 +5.0%
Book value 10.59 11.77 13.46 15.55 17.41 21.09 17.33 18.56 23.94 20.70 21.41 +7.7%
Shares, m 5 5 5 5 5 6 6 6 7 9 9 +6.9%
Valuation, ×
Valuation, × P/E 10.80 13.73 9.51 11.09 9.34 11.92 6.42 14.02 19.84 12.81 12.68 11.9
P/S 1.88 2.47 2.39 2.56 2.01 2.70 1.73 1.93 1.73 1.95 2.35 2.1
P/B 1.21 1.53 1.44 1.38 0.97 1.09 0.99 1.16 0.96 1.22 1.43 1.2
EV/Sales 1.08 1.76 2.03 1.80 (0.62) (0.61) 0.89 0.89 0.30 0.72 — 0.8
EV/FCF 4.55 11.47 6.68 6.91 (1.80) (4.11) 2.15 4.22 (1.08) 3.70 — 3.3
Cash, $m
Cash, $m Operating cash flow 9 7 14 12 15 8 27 16 (22) 25 30 +12.1%
Capex (1) (1) (2) (1) (1) (1) (1) (2) (3) (2) (2) +10.5%
Free cash flow 8 5 12 11 14 7 26 15 (25) 23 28 +12.2%
Balance, $m
Balance, $m Working capital (126) (108) (103) (91) (94) (254) (262) (239) (194) (232) (219) +7.0%
Net debt (27) (26) (14) (32) (108) (157) (53) (73) (132) (143) (148) +20.4%
Shareholders’ equity 52 58 67 77 85 117 108 116 167 186 194 +15.2%
Returns, %
Returns, % ROA 0.84 0.89 1.36 1.23 1.01 0.89 1.22 0.69 0.41 0.87 1.05 0.0 pt
ROIC 20.43 19.63 14.84 16.13 0.00 0.00 23.27 17.01 29.60 35.13 37.41 +14.7 pt
ROE 12.04 11.69 16.24 13.28 10.93 10.26 14.90 8.57 4.93 10.04 11.81 (2.0) pt
People
People Employees 153 160 160 154 150 210 215 224 303 308 — +8.1%
Revenue/emp, $m 0.22 0.22 0.25 0.27 0.27 0.23 0.29 0.31 0.31 0.38 — +6.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

First National Corp. vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BPRN Princeton Bancorp, Inc. $299.7M 11.6× 11.2× −2.61% (below 0%: shrinking) +940.00% (above 0%: growing) −38.15% (below 0%: shrinking) 65.93% 0.00% Compare
QNBC QNB Corp. $291.4M — (loss-making) — (loss-making) −74.89% (below 0%: shrinking) n/m +282.00% (above 0%: growing) (90.91%) 0.00% Compare
VABK Virginia National Bankshares Corporation $288.7M 11.6× 17.8× +24.86% (above 0%: growing) +110.13% (above 0%: growing) −47.94% (below 0%: shrinking) 77.48% 0.00% Compare
OVLY Oak Valley Bancorp (CA) $288.3M 12.1× — +4.45% (above 0%: growing) −8.82% (below 0%: shrinking) −20.28% (below 0%: shrinking) 85.32% 0.00% Compare
BCBP BCB Bancorp, Inc. (NJ) $280.8M — (loss-making) — (loss-making) −11.64% (below 0%: shrinking) n/m −8.23% (below 0%: shrinking) 57.20% 0.00% Compare
LCNB LCNB Corporation $278.5M 11.2× 10.7× −0.76% (below 0%: shrinking) +4.08% (above 0%: growing) +43.09% (above 0%: growing) 78.76% 0.00% Compare
FXNC First National Corp. $274.9M 12.7× 11.6× +2.05% (above 0%: growing) +14.29% (above 0%: growing) +60.14% (above 0%: growing) 80.94% 0.00%
WNEB Western New England Bancorp $271.3M 13.7× 14.0× +6.03% (above 0%: growing) +100.00% (above 0%: growing) −9.46% (below 0%: shrinking) 67.88% 0.00% Compare
HWBK Hawthorn Bancshares, Inc. $268.4M 10.5× 10.0× +9.30% (above 0%: growing) +20.45% (above 0%: growing) +123.49% (above 0%: growing) 76.36% 0.00% Compare
Median of peers $284.5M 11.6× 11.2× +1.84% +60.23% −8.84% 72.12% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 2 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 923.32k 986.50k 147.34
2024 1.29m 1.28m 134.33
2023 593.47k 669.07k 126.97

Ownership

Directors and executive officers, together 14.22%
Fourthstone LLC 9.85%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

First National Corp. (FXNC) Latest News

23 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · Zacks

12 Oct

Impact 3 · · Zacks

25 Sep

Impact 3 · · Zacks

14 Sep

Impact 3 ·

9 Sep

Impact 3 · · Zacks

4 Sep

Impact 3 ·

20 Jul

Impact 3 ·

5 Jun

Impact 3 · · Zacks

6 May

Impact 3 · · GlobeNewswire

3 May

Impact 3 · · Simply Wall St.

30 Apr

Impact 4 · · GlobeNewswire
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16 Apr

Impact 4 · · wealthmanagement.com

12 Mar

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12 Feb

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9 Feb

Impact 4 · · GlobeNewswire
Impact 4 · · Zacks

3 Feb

Impact 3 · · GlobeNewswire

29 Jan

Impact 4 · · GlobeNewswire

6 Jan

Impact 4 · · Barrons.com
Impact 4 · · Barrons.com

29 Dec

Impact 3 · · Simply Wall St.

18 Dec

Impact 4 · · Zacks

18 Nov

Impact 3 · · Simply Wall St.

13 Nov

Impact 4 · · GlobeNewswire

6 Nov

Impact 3 ·

1 Nov

Impact 3 · · Simply Wall St.

30 Oct

Impact 3 · · Zacks
stockrow.com/FXNC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com