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LCNB Corporation

LCNB Financial Banks Regional

LCNB Corporation’s revenue for fiscal 2025 (year ended December 2025) was $124.5 million, down 0.72% from fiscal 2024.

Revenue
−0.76%
EPS
+4.08%
Free cash flow
+43.1%
Total debt
−33.2%

Quarter to September 2026, against a year earlier

19.54 0.75 −3.70%
Market cap
$278.5M
P/E
11.2×
Fwd P/E
10.7×
Dividend yield
4.50%
F-score
8/9
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 0.05
Sold, $m 0.09
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 2 — — 2 — 1 —
Sell — — 1 — — — — — — — — 1
Insider Ownership 5.76%

Capital & Financial Ratios $m

Size
Market Cap 278.54
Revenue ttm 124.36
Net income ttm 24.90
Free cash flow ttm 36.33
Net debt Q 70.00
Valuation
P/E 11.17
Forward P/E 10.70
Price / sales 2.23
Forward P/S Powerpack
Price / FCF 7.62
Price / book 0.98
Financial health
Current ratio Q 0.94
Debt / equity Q 0.25
Interest coverage Q —
Growth
Revenue growth Q −0.76% (below 0%: shrinking)
Operating income growth Q +25.18% (above 0%: growing)
EPS, this year +13.50%
EPS, next year A +1.44%
Revenue, next year A −37.36% (below 0%: weak)
EPS, past 5 yrs +1.01%
EPS, next 5 yrs A +5.70%

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 41.25%
10-year low 10-year high
P/S against its own 10 years 33.81%
10-year low 10-year high
P/B against its own 10 years 57.65%
10-year low 10-year high

Dividends

Yield
4.50%
Annual rate
0.88
Payout ratio
50.3%
Growth, 2017–25
+1.20%/yr
  1. 0.80 ’17
  2. 0.65 ’18 −19
  3. 0.69 ’19 +6
  4. 0.73 ’20 +6
  5. 0.77 ’21 +5
  6. 0.81 ’22 +5
  7. 0.85 ’23 +5
  8. 0.88 ’24 +4
  9. 0.88 ’25 +0
  10. 0.88 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 40 36 24 28
Receivables — — — —
Inventory — — — —
Other — — — —
1,761 1,760 1,726 1,726
2023 2024 2025 Q'26
Payables 1,824 1,878 1,840 1,883
ST’ Debt — — — —
Other — — — —
1,937 1,893 1,856 —

Compound Annual Growth %

10y 5y 3y
Sales 8.96% 9.38% 15.87%
Cash Flow 10.02% 20.25% 6.21%
Earnings 7.26% 2.91% 1.65%
Book Value 6.93% 2.61% 10.93%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.48 Actual 0.51

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.44 0.40 Miss by 0.04
Q1 FY26 0.35 0.31 Miss by 0.04
Q2 FY26 0.44 0.53 Beat by 0.09
Q3 FY26 0.48 0.51 Beat by 0.03
Q4 FY26 0.50 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.31 0.53 0.51 — —
’25 0.33 0.41 0.49 0.40 1.63
’24 0.15 0.07 0.31 0.44 0.97
’23 0.37 0.42 0.37 (0.02) 1.10
’22 0.38 0.49 0.49 0.57 1.93
’21 0.41 0.41 0.39 0.45 1.66
’20 0.39 0.39 0.33 0.44 1.55
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 30 32 32 — —
’25 31 31 32 31 125
’24 29 31 33 33 125
’23 21 22 23 28 95
’22 19 20 20 21 80
’21 19 20 19 20 77
’20 20 19 20 20 80
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 3 9 — — —
’25 2 5 14 13 34
’24 (12) 55 12 38 93
’23 2 5 5 11 23
’22 5 7 7 10 29
’21 4 4 7 3 18
’20 1 4 4 4 14
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 3 7 — — —
’25 2 5 14 12 33
’24 (13) 54 11 38 90
’23 2 5 5 10 21
’22 5 8 8 10 30
’21 4 3 7 2 16
’20 1 3 4 4 12
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 Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 55 55 66 78 80 77 80 95 125 125 124 +9.6% 78 78 80 (13.6%)
Gross margin, % 93.58 93.45 90.21 86.09 90.49 94.76 94.11 75.53 64.74 73.88 78.45 (19.7) pt
EBT 17 17 18 23 24 26 27 15 16 28 30 +5.8%
EBT margin, % 31.00 31.40 27.11 29.69 30.38 33.05 33.67 16.06 12.73 22.61 24.49 (8.4) pt
Net income 12 13 15 19 20 21 22 13 13 23 25 +7.1%
Per share, $
Per share, $ Revenue 5.49 5.49 5.50 5.93 6.16 6.15 7.01 8.32 9.11 8.84 8.78 +5.4%
Earnings 1.26 1.30 1.24 1.44 1.55 1.66 1.93 1.10 0.97 1.63 1.75 +2.9%
Cash flow 1.56 1.81 1.65 1.68 1.06 1.42 2.52 2.05 6.77 2.44 0.00 +5.1%
Capex (0.91) (0.54) 0.01 (0.30) (0.17) (0.15) 0.14 (0.17) (0.21) (0.07) 0.00 (25.1%)
Free cash flow 0.65 1.28 1.66 1.38 0.89 1.26 2.66 1.88 6.56 2.37 0.00 +15.5%
Book value 14.37 15.02 18.35 17.44 18.65 18.95 17.59 20.61 18.38 19.45 19.92 +3.4%
Shares, m 10 10 12 13 13 13 11 11 14 14 14 +3.9%
Valuation, ×
Valuation, × P/E 17.86 15.65 12.35 13.40 9.48 11.77 9.43 14.08 15.60 10.06 11.17 13.0
P/S 4.10 3.71 2.75 3.26 2.39 3.18 2.59 1.93 1.66 1.85 2.23 2.7
P/B 1.57 1.36 0.83 1.11 0.79 1.03 1.03 0.78 0.82 0.84 0.98 1.0
EV/Sales 3.76 3.25 3.15 3.52 2.26 3.07 2.55 2.70 2.61 2.50 — 2.9
EV/FCF 31.91 13.99 10.44 15.10 15.63 14.96 6.73 11.99 3.63 9.30 — 13.4
Cash, $m
Cash, $m Operating cash flow 15 18 20 22 14 18 29 23 93 34 39 +9.3%
Capex (9) (5) 0 (4) (2) (2) 2 (2) (3) (1) (2) (22.2%)
Free cash flow 6 13 20 18 12 16 30 21 90 33 36 +20.1%
Balance, $m
Balance, $m Working capital (328) (274) (155) (101) (143) (258) (267) (176) (133) (130) (107) (9.8%)
Net debt (18) (25) 26 20 (10) (8) (4) 73 119 80 70 n/m
Shareholders’ equity 143 150 219 228 241 239 201 235 253 274 282 +7.5%
Returns, %
Returns, % ROA 0.96 1.00 1.01 1.15 1.18 1.15 1.15 0.60 0.59 1.02 0.00 +0.1 pt
ROIC 8.48 8.67 5.08 5.82 6.53 6.94 8.55 4.03 3.26 4.99 0.00 (3.5) pt
ROE 8.82 8.85 8.04 8.45 8.54 8.72 10.02 5.79 5.53 8.77 0.00 (0.1) pt
People
People Employees 282 310 325 332 331 307 309 380 393 363 — +2.8%
Revenue/emp, $m 0.19 0.18 0.20 0.23 0.24 0.25 0.26 0.25 0.32 0.34 — +6.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

LCNB Corporation 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
FNRN First Northern Community Bancorp $291.4M 13.1× — +2.07% (above 0%: growing) −12.99% (below 0%: shrinking) +31.66% (above 0%: growing) 83.16% 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%
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% Compare
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
Median of peers $288.5M 12.4× 12.8× +2.06% +57.15% −8.84% 72.68% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 12 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 892.86k 770.75k 111.62
2024 591.69k 646.90k 103.00
2023 821.60k 665.22k 107.35
2022 589.15k 612.13k 122.53
2021 647.40k 639.43k 132.92

Ownership

Directors and executive officers, together 5.67%
BlackRock, Inc. 5.30%
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

LCNB Corporation (LCNB) Latest News

23 Oct

Impact 3 · · Zacks

15 Oct

Impact 3 · · Zacks earnings
Impact 3 · · Zacks earnings
Impact 3 · · Business Wire

27 Apr

Impact 3 · · MarketBeat

22 Apr

Impact 4 · · Business Wire
Impact 3 · · Zacks

29 Jan

Impact 4 · · Associated Press Finance
Impact 3 · · Business Wire

22 Jan

Impact 3 · · Zacks

20 Nov

Impact 3 · · Business Wire

31 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

24 Oct

Impact 3 ·

22 Oct

Impact 4 · · Zacks
Impact 4 · · Associated Press Finance
Impact 3 ·

8 Oct

Impact 4 · · Business Wire

23 Sep

Impact 4 ·

9 Sep

Impact 3 ·

25 Aug

Impact 3 ·

20 Aug

Impact 4 ·
Impact 3 ·

4 Aug

Impact 3 · · Zacks

29 Jul

Impact 4 ·

24 Jul

Impact 4 ·

22 Jul

Impact 4 · · Business Wire earnings
Impact 3 · · Zacks

3 Jul

Impact 3 · · Simply Wall St.

23 May

Impact 3 · · Simply Wall St.
stockrow.com/LCNB · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com