LCNB Corporation (LCNB) vs National Bankshares, Inc. (NKSH)

LCNB Corporation and National Bankshares, Inc. are both Banks Regional companies. LCNB Corporation and National Bankshares, Inc. are of similar size ($269.0M and $262.4M). LCNB Corporation trades at the lower P/E: 10.9× against 13.3×. National Bankshares, Inc. grew revenue faster over the last twelve months: 5.28% against −2.20%. National Bankshares, Inc. has the higher net margin (23.2% vs 19.7%) and the higher return on invested capital (11.2% vs 5.26%). Both pay a dividend; National Bankshares, Inc. yields more (8.58% vs 6.35%). Across the 20 metrics below, LCNB Corporation leads on 10 and National Bankshares, Inc. on 10.

Valuation

Metric LCNB NKSH Banks Regional median
P/E 10.88 13.28 12.15
P/S 2.14 3.08 2.37
P/B 0.95 1.40 1.21
Price to free cash flow 7.34 14.63 10.80
EV/EBITDA n/m n/m —
EV/Sales 2.75 2.46 2.27
Earnings yield 9.19% 7.53% 8.11%
Free cash flow yield 13.63% 6.83% 8.98%

Profitability

Metric LCNB NKSH Banks Regional median
Gross margin 77.34% 69.15% 69.57%
Operating margin 0.00% 0.00% 0.00%
Net margin 19.67% 23.22% 18.66%
Free cash flow margin 29.16% 21.07% 21.18%
Return on equity 9.01% 11.25% 10.64%
Return on assets 1.08% 1.12% 1.13%
Return on invested capital 5.26% 11.23% 8.33%

Growth

Metric LCNB NKSH Banks Regional median
Revenue growth (TTM) (2.20%) 5.28% 6.61%
EPS growth (last fiscal year) 68.04% 100.81% —
Revenue growth, 5-year CAGR 9.38% 10.43% 12.30%
Net income growth, 5-year CAGR 2.91% (0.31%) 9.71%

Health

Metric LCNB NKSH Banks Regional median
Debt to equity 0.37 0.00 0.22
Current ratio 0.94 0.65 0.94
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric LCNB NKSH Banks Regional median
Dividend yield 6.35% 8.58% 3.75%
Payout ratio 0.45 0.38 0.27

Size

Metric LCNB NKSH Banks Regional median
Market cap 262.43m 268.97m 921.07m

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