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National Bankshares, Inc.

NKSH Financial Banks Regional

National Bankshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $85.3 million, up 7.88% from fiscal 2024.

Revenue
+6.17%
EPS
+119.4%
Free cash flow
+118.6%

Quarter to June 2026, against a year earlier

39.69 0.28 +0.71%
Market cap
$251.1M
P/E
12.4×
Fwd P/E
11.4×
Dividend yield
3.87%
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 0.01
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 3.21%

Capital & Financial Ratios $m

Size
Market Cap 251.07
Revenue ttm 87.46
Net income ttm 20.31
Free cash flow ttm 18.43
Net debt Q (54.56)
Valuation
P/E 12.39
Forward P/E 11.40
Price / sales 2.88
Forward P/S Powerpack
Price / FCF 13.65
Price / book 1.31
Financial health
Current ratio Q 0.65
Debt / equity Q 0.00
Interest coverage Q —
Growth
Revenue growth Q +6.17% (above 0%: growing)
Operating income growth Q +129.23% (above 0%: growing)
EPS, this year +26.35% (at or above 15%: strong)
EPS, next year A +10.29%
Revenue, next year A −31.22% (below 0%: weak)
EPS, past 5 yrs +0.08%
EPS, next 5 yrs A +6.96%

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 30.07%
10-year low 10-year high
P/S against its own 10 years 29.34%
10-year low 10-year high
P/B against its own 10 years 48.55%
10-year low 10-year high

Dividends

Yield
3.87%
Annual rate
1.53
Payout ratio
48.1%
Growth, 2017–25
+3.24%/yr
  1. 1.17 ’17
  2. 1.21 ’18 +3
  3. 1.39 ’19 +15
  4. 1.39 ’20 +0
  5. 1.44 ’21 +4
  6. 1.50 ’22 +4
  7. 1.51 ’23 +1
  8. 1.51 ’24 +0
  9. 1.51 ’25 +0
  10. 1.51 ’26e +0
paid forecast change on the year, % Powerpack

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%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.98 Actual 0.86

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.66 0.69 Beat by 0.03
Q1 FY26 0.65 0.78 Beat by 0.13
Q2 FY26 0.80 0.79 Miss by 0.01
Q3 FY26 0.98 0.86 Miss by 0.12
Q4 FY26 0.98 — Reports 28 January 2027

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

1
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 48 49 51 54 52 53 63 68 79 85 87 +6.6% — — — —
Gross margin, % 91.33 91.56 90.09 86.32 88.76 94.20 95.07 68.40 57.36 65.13 69.15 (26.2) pt
EBT 19 20 19 21 19 25 32 19 9 19 25 +0.2%
EBT margin, % 39.33 41.69 36.72 38.34 36.87 46.12 50.81 27.39 11.54 22.46 28.28 (16.9) pt
Net income 15 14 16 17 16 20 26 16 8 16 20 +0.6%
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 13.74 +7.7%
Earnings 2.15 2.03 2.32 2.65 2.48 3.28 4.33 2.66 1.24 2.49 3.19 +1.6%
Cash flow 2.52 1.58 2.85 2.86 2.13 3.68 4.92 2.64 1.53 2.81 3.15 +1.2%
Capex 0.03 0.04 (0.13) (0.06) (0.27) 0.05 (0.21) (0.14) (0.52) (0.43) (0.26) n/m
Free cash flow 2.55 1.62 2.72 2.81 1.86 3.73 4.72 2.50 1.01 2.38 2.90 (0.8%)
Book value 25.62 26.57 27.34 27.92 30.94 30.88 20.48 23.86 25.39 29.07 30.21 +1.4%
Shares, m 7 7 7 7 6 6 6 6 6 6 6 (1.0%)
Valuation, ×
Valuation, × P/E 20.07 22.44 15.70 16.95 12.65 10.93 9.23 12.46 23.53 13.47 12.39 15.7
P/S 6.25 6.42 4.97 5.48 3.91 4.17 3.83 2.86 2.24 2.50 2.88 4.3
P/B 1.68 1.70 1.33 1.61 1.01 1.16 1.95 1.39 1.13 1.15 1.31 1.4
EV/Sales 4.26 5.08 3.84 3.84 1.31 1.55 2.68 1.57 0.87 1.81 — 2.7
EV/FCF 11.52 21.99 10.36 11.23 5.62 3.58 5.92 7.30 11.04 10.16 — 9.9
Cash, $m
Cash, $m Operating cash flow 18 11 20 19 14 23 30 16 9 18 20 +0.2%
Capex 0 0 (1) 0 (2) 0 (1) (1) (3) (3) (2) n/m
Free cash flow 18 11 19 18 12 23 28 15 6 15 18 (1.8%)
Balance, $m
Balance, $m Working capital (303) (329) (287) (300) (396) (554) (620) (563) (553) (573) (564) +7.3%
Net debt (95) (65) (58) (88) (135) (140) (72) (88) (108) (59) (55) (5.2%)
Shareholders’ equity 178 185 190 184 201 192 123 141 156 185 192 +0.4%
Returns, %
Returns, % ROA 1.23 1.13 1.29 1.36 1.13 1.27 1.53 0.94 0.44 0.87 1.12 (0.4) pt
ROIC 14.51 10.66 9.76 13.56 18.29 29.54 39.45 22.17 15.58 9.53 11.23 (5.0) pt
ROE 8.53 7.76 8.61 9.34 8.37 10.39 16.49 11.92 5.13 9.27 11.25 +0.7 pt
People
People Employees 229 232 235 238 226 218 227 222 245 254 — +1.2%
Revenue/emp, $m 0.21 0.21 0.22 0.23 0.23 0.25 0.28 0.31 0.32 0.34 — +5.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

National Bankshares, Inc. 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
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
FBLA FB Bancorp, Inc. $268.4M — (loss-making) — +8.80% (above 0%: growing) n/m +669.02% (above 0%: growing) 74.66% 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
RMBI Richmond Mutual Bancorporation, Inc. $262.8M 12.6× 16.7× +4.69% (above 0%: growing) −14.81% (below 0%: shrinking) −35.05% (below 0%: shrinking) 58.15% 0.00% Compare
NKSH National Bankshares, Inc. $251.1M 12.4× 11.4× +6.17% (above 0%: growing) +119.44% (above 0%: growing) +118.57% (above 0%: growing) 71.02% 0.00%
CMTV Community Bancorp. $248.3M 14.1× — +8.55% (above 0%: growing) +16.67% (above 0%: growing) +17.48% (above 0%: growing) 73.88% 0.00% Compare
EFSI Eagle Financial Services Inc. $245.4M 13.1× 14.4× +10.87% (above 0%: growing) −6.12% (below 0%: shrinking) −435.67% (below 0%: shrinking) 77.54% 0.00% Compare
PEBK Peoples Bancorp of North Carolina, Inc. $236.0M 10.4× 11.8× +1.75% (above 0%: growing) +53.76% (above 0%: growing) +91.79% (above 0%: growing) 80.53% 0.00% Compare
CFBK CF Bankshares Inc. $234.1M 11.9× 9.6× −0.68% (below 0%: shrinking) +18.18% (above 0%: growing) −35.84% (below 0%: shrinking) 52.15% 0.00% Compare
Median of peers $255.5M 12.6× 12.9× +7.29% +18.18% +4.01% 74.27% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 31 March 2026

Ownership

Directors and executive officers, together 3.32%
BlackRock, Inc. 7.00%
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

National Bankshares, Inc. (NKSH) Latest News

24 Oct

Impact 4 · · Simply Wall St.
Impact 3 ·

22 Oct

Impact 3 · · Associated Press

21 Sep

Impact 3 · · Zacks

23 Jul

Impact 3 ·

8 Feb

Impact 3 · · Simply Wall St.

19 Nov

Impact 3 · · Simply Wall St.

18 Nov

Impact 3 · · Simply Wall St.

23 Oct

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

13 Aug

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

23 May

Impact 4 · · Simply Wall St.

30 Mar

Impact 3 · · Simply Wall St.

25 Jan

Impact 3 · · Simply Wall St.

23 Jan

Impact 4 · · Associated Press Finance
Impact 3 ·

26 Oct

Impact 3 · · Simply Wall St.

18 Oct

Impact 4 · · GlobeNewswire

11 Oct

Impact 4 · · Simply Wall St.

14 Aug

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

27 Jul

Impact 4 · · Simply Wall St.

5 Jul

Impact 4 · · Simply Wall St.

4 Jul

Impact 4 · · Simply Wall St.

3 Jun

Impact 4 · · GlobeNewswire

27 Apr

Impact 4 · · Simply Wall St.

21 Mar

Impact 3 · · Simply Wall St.

9 Mar

Impact 4 · · Simply Wall St.

24 Jan

Impact 4 · · GlobeNewswire
stockrow.com/NKSH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com