Saturday 17 October 2026 Export NKSH’s income statement to Excel — free account

National Bankshares, Inc.

National Bankshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $85.3 million, up 7.88% from fiscal 2024. In the quarter to June 2026, revenue grew 6.17%, EPS grew 119.4% and free cash flow grew 118.6%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

43.44 0.12 +0.28%

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Market cap: $276.0M
P/E: 13.6×
Fwd P/E: 10.7×
Dividend yield: 3.52%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.01

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	1	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 3.21%

Capital & Financial Ratios $m

Market Cap 275.97

Revenue 87.46

Net Income 20.31

Free Cash Flow 18.43

Net Debt (54.56)

Current Ratio 0.65

Debt/Equity 0.00

P/E ratio 13.62

Fwd P/E 10.70

P/S ratio 3.16

P/B ratio 1.44

Past 5Y EPS Growth 0.08%

This Y EPS Growth 26.35%

Next Y EPS Growth 10.29%

Next Y revenue growth (31.22%)

Next 5Y EPS Growth 6.96%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 44.05%

10-year low 10-year high

P/S against its own 10 years 34.39%

10-year low 10-year high

P/B against its own 10 years 69.41%

10-year low 10-year high

Dividends

Payout Ratio 0.48

Annual Dividend Rate 1.53

Annual Dividend Yield 3.52%

	total	individual payouts
2027	Powerpack
2026	1.51	0.75
2025	1.51	0.73 0.78
2024	1.51	0.73 0.78
2023	1.51	1.00 0.73 0.78
2022	1.50	0.72 0.78
2021	1.44	0.70 0.74
2020	1.39	0.67 0.72
2019	1.39	0.67 0.72
2018	1.21	0.58 0.63
2017	1.17	0.56 0.61
2016	1.16	0.55 0.61

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	88	108	59	55
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	942	1,093	1,055	1,067

	2023	2024	2025	Q'26
Payables	1,504	1,645	1,627	1,629
ST’ Debt	—	—	—	—
Other	—	—	—	—
	1,505	1,646	1,629	1,631

Compound Annual Growth %

	10y	5y	3y
Sales	5.00%	10.43%	10.92%
Cash Flow	(1.37%)	5.34%	(15.36%)
Earnings	0.00%	(0.31%)	(15.18%)
Book Value	0.72%	(1.62%)	14.65%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	22	22	—	—	—
’25	21	21	22	22	85
’24	18	19	21	21	79
’23	16	17	17	18	68
’22	13	14	15	20	63
’21	13	13	14	14	53
’20	14	12	13	13	52

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	3	4	—	—	—
’25	3	2	6	7	18
’24	4	(3)	3	5	9
’23	4	3	6	2	16
’22	7	3	8	11	30
’21	7	4	6	5	23
’20	5	1	4	4	14

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	3	3	—	—	—
’25	2	2	5	7	15
’24	4	(4)	2	4	6
’23	4	3	5	3	15
’22	6	3	8	11	28
’21	7	4	6	5	23
’20	4	1	3	3	12

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.78	0.79	—	—	—
’25	0.51	0.36	0.69	0.92	2.49
’24	0.37	(0.05)	0.42	0.48	1.24
’23	0.77	0.66	0.52	0.71	2.66
’22	0.81	0.93	1.03	1.56	4.33
’21	0.74	0.74	0.94	0.86	3.28
’20	0.61	0.46	0.64	0.77	2.48

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	31.75	36.05	34.49	32.52	23.37	30.55	30.52	22.28	26.50	23.75	Analyst estimates 2026–2028 Powerpack
	High	45.35	47.70	49.75	48.82	44.99	39.99	41.45	43.78	35.00	35.00
People
People	Employees	229	232	235	238	226	218	227	222	245	254
	Revenue/emp, $m	0.21	0.21	0.22	0.23	0.23	0.25	0.28	0.31	0.32	0.34
Income, $m
Income, $m	Revenue	48	49	51	54	52	53	63	68	79	85
	Gross margin, %	91.33	91.56	90.09	86.32	88.76	94.20	95.07	68.40	57.36	65.13
	EBT	19	20	19	21	19	25	32	19	9	19
	EBT margin, %	39.33	41.69	36.72	38.34	36.87	46.12	50.81	27.39	11.54	22.46
	Net income	15	14	16	17	16	20	26	16	8	16
	Depreciation	1	1	1	1	2	2	2	2	2	1
Per share, $
Per share, $	Revenue	6.91	7.03	7.32	8.20	8.01	8.60	10.44	11.58	12.84	13.41
	Earnings	2.15	2.03	2.32	2.65	2.48	3.28	4.33	2.66	1.24	2.49
	Cash flow	2.52	1.58	2.85	2.86	2.13	3.68	4.92	2.64	1.53	2.81
	Capex	0.03	0.04	(0.13)	(0.06)	(0.27)	0.05	(0.21)	(0.14)	(0.52)	(0.43)
	Free cash flow	2.55	1.62	2.72	2.81	1.86	3.73	4.72	2.50	1.01	2.38
	Book value	25.62	26.57	27.34	27.92	30.94	30.88	20.48	23.86	25.39	29.07
	Shares, m	7	7	7	7	6	6	6	6	6	6
Valuation, ×
Valuation, ×	P/E	20.07	22.44	15.70	16.95	12.65	10.93	9.23	12.46	23.53	13.47
	P/S	6.25	6.42	4.97	5.48	3.91	4.17	3.83	2.86	2.24	2.50
	P/B	1.68	1.70	1.33	1.61	1.01	1.16	1.95	1.39	1.13	1.15
	EV/Sales	4.26	5.08	3.84	3.84	1.31	1.55	2.68	1.57	0.87	1.81
	EV/FCF	11.52	21.99	10.36	11.23	5.62	3.58	5.92	7.30	11.04	10.16
Cash, $m
Cash, $m	Operating cash flow	18	11	20	19	14	23	30	16	9	18
	Capex	0	0	(1)	0	(2)	0	(1)	(1)	(3)	(3)
	Free cash flow	18	11	19	18	12	23	28	15	6	15
Balance, $m
Balance, $m	Working capital	(303)	(329)	(287)	(300)	(396)	(554)	(620)	(563)	(553)	(573)
	Total debt	1	—	2	2	2	1	1	—	—	—
	Net debt	(95)	(65)	(58)	(88)	(135)	(140)	(72)	(88)	(108)	(59)
	Shareholders’ equity	178	185	190	184	201	192	123	141	156	185
Returns, %
Returns, %	ROA	1.23	1.13	1.29	1.36	1.13	1.27	1.53	0.94	0.44	0.87
	ROIC	14.51	10.66	9.76	13.56	18.29	29.54	39.45	22.17	15.58	9.53
	ROE	8.53	7.76	8.61	9.34	8.37	10.39	16.49	11.92	5.13	9.27

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FUNC First United Corporation	$283.5M	11.4×	9.1×	+5.24% (above 0%: growing)	−4.35% (below 0%: shrinking)	+705.52% (above 0%: growing)	75.95%	0.00%	Compare
FRAF Franklin Financial Services Corp.	$282.6M	11.4×	10.0×	+1.12% (above 0%: growing)	+11.36% (above 0%: growing)	+20.95% (above 0%: growing)	71.88%	0.00%	Compare
OVLY Oak Valley Bancorp (CA)	$282.3M	12.0×	—	+4.45% (above 0%: growing)	−8.82% (below 0%: shrinking)	−20.28% (below 0%: shrinking)	85.32%	0.00%	Compare
ISBA Isabella Bank Corporation	$280.1M	13.5×	11.9×	+13.60% (above 0%: growing)	+1.47% (above 0%: growing)	+1.06% (above 0%: growing)	73.42%	0.00%	Compare
VABK Virginia National Bankshares Corporation	$279.1M	11.1×	17.8×	+24.86% (above 0%: growing)	+110.13% (above 0%: growing)	−47.94% (below 0%: shrinking)	77.48%	0.00%	Compare
NKSH National Bankshares, Inc.	$276.0M	13.6×	10.7×	+6.17% (above 0%: growing)	+119.44% (above 0%: growing)	+118.57% (above 0%: growing)	71.02%	0.00%
FNRN First Northern Community Bancorp	$273.3M	12.2×	—	+2.07% (above 0%: growing)	−12.99% (below 0%: shrinking)	+31.66% (above 0%: growing)	83.16%	0.00%	Compare
WNEB Western New England Bancorp	$271.6M	16.1×	13.4×	+3.49% (above 0%: growing)	−21.74% (below 0%: shrinking)	−9.46% (below 0%: shrinking)	66.47%	0.00%	Compare
LCNB LCNB Corporation	$267.9M	10.9×	10.0×	+1.60% (above 0%: growing)	+29.27% (above 0%: growing)	+43.09% (above 0%: growing)	79.36%	0.00%	Compare
Median of peers	$279.6M	11.7×	11.0×	+3.97%	−1.44%	+11.01%	76.72%	0.00%

All 323 Banks Regional stocks →

National Bankshares, Inc. (NKSH) key facts

Strength: National Bankshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $85.3 million, up 7.88% from fiscal 2024.
Strength: Net income was $15.8 million, or $2.49 per share (basic), a net margin of 18.6%.
National Bankshares, Inc. (NKSH) is a Banks Regional company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, NKSH traded at $43.44, a market capitalization of $276.0 million.
At that price the stock trades at 13.6× trailing-twelve-month earnings and 3.2× sales; its P/E is higher than 44% of its own readings over the past ten years.
National Bankshares, Inc. pays an annual dividend of $1.53 per share, a yield of 3.52%, with a payout ratio of 48.1%.
Return on equity was 9.27% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.