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National Bankshares (NKSH) Financials

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$42.42 -0.04 (-0.09%)
As of 03:42 PM Eastern
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Annual Income Statements for National Bankshares

Annual Income Statements for National Bankshares

This table shows National Bankshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 16 15 14 16 17 16 20 27 16 7.62 17
Consolidated Net Income / (Loss)		 16 15 14 16 17 16 20 26 16 7.62 16
Net Income / (Loss) Continuing Operations		 16 15 14 16 17 16 20 27 16 7.62 17
Total Pre-Tax Income 		21 19 20 19 21 19 25 32 19 9.12 19
Total Revenue		 48 44 45 46 47 46 50 60 47 45 56
Net Interest Income / (Expense)		 39 37 37 38 38 38 42 47 37 36 46
Total Interest Income		 43 41 41 43 45 44 45 50 59 70 75
Loans and Leases Interest Income		 30 29 30 31 34 35 35 34 39 48 55
Investment Securities Interest Income		 12 11 11 11 9.76 9.21 9.89 15 18 18 17
Deposits and Money Market Investments Interest Income		 0.25 0.53 0.79 0.67 1.52 0.28 0.17 1.35 1.98 4.07 3.18
Federal Funds Sold and Securities Borrowed Interest Income		 - - - - - - - - 0.00 0.03 0.01
Total Interest Expense		 4.18 4.17 4.13 5.05 7.38 5.84 3.10 3.08 22 34 30
Deposits Interest Expense		 4.18 4.17 4.13 4.88 7.38 5.84 3.10 3.08 21 34 29
Long-Term Debt Interest Expense		 - - - - - - - 0.00 0.30 0.00 0.38
Total Non-Interest Income		 9.49 7.12 7.64 7.73 8.79 7.94 8.43 12 9.36 9.05 10
Other Service Charges		 7.62 1.29 1.15 0.81 1.35 1.09 1.26 8.09 1.19 1.03 9.49
Net Realized & Unrealized Capital Gains on Investments		 0.03 0.23 0.01 0.22 0.86 0.78 0.37 3.98 -0.25 0.17 0.23
Other Non-Interest Income		 0.60 5.59 6.47 6.71 6.58 6.07 6.80 0.96 8.42 7.84 1.20
Provision for Credit Losses		 2.01 1.65 0.16 -0.08 0.13 1.99 -0.40 0.71 -1.26 1.23 -0.02
Total Non-Interest Expense		 26 23 24 27 26 25 26 27 29 35 36
Salaries and Employee Benefits		 13 13 14 15 15 15 16 17 17 19 21
Net Occupancy & Equipment Expense		 3.40 4.00 4.10 4.63 5.04 4.88 4.88 5.12 5.55 6.21 6.50
Property & Liability Insurance Claims		 0.55 0.48 0.36 0.36 0.17 0.20 0.42 0.48 0.75 0.81 0.83
Other Operating Expenses		 8.17 5.92 6.03 7.73 5.63 5.22 5.03 4.84 5.61 5.48 7.85
Amortization Expense		 1.00 0.26 0.07 0.05 0.00 - - - 0.00 0.24 0.37
Restructuring Charge		 - - - - - - - - 0.00 2.92 0.00
Income Tax Expense		 4.74 3.95 6.29 2.56 3.21 3.08 4.25 5.83 2.98 1.50 3.34
Basic Earnings per Share		 $2.28 $2.15 $2.03 $2.32 $2.65 - $3.28 $4.33 $2.66 $1.24 $2.49
Weighted Average Basic Shares Outstanding		 6.95M 6.96M 6.96M 6.51M 6.49M 6.39M 6.02M 5.89M 5.89M 6.16M 6.36M
Diluted Earnings per Share		 $2.28 $2.15 $2.03 $2.32 $2.65 - - $4.33 $2.66 $1.24 $2.49
Weighted Average Diluted Shares Outstanding		 6.95M 6.96M 6.96M 6.51M 6.49M 6.39M 6.02M 5.89M 5.89M 6.16M 6.36M
Weighted Average Basic & Diluted Shares Outstanding		 6.95M 6.96M 6.96M 6.51M 6.49M 6.39M 6.02M 5.89M 5.89M 6.36M 6.37M
Cash Dividends to Common per Share		 $1.14 - - $1.21 $1.39 $1.39 $1.44 $1.50 $2.51 $1.51 $1.51

Quarterly Income Statements for National Bankshares

This table shows National Bankshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 4.19 2.17 -0.18 2.68 3.80 3.24 2.46 4.42 6.62 4.98 5.03
Consolidated Net Income / (Loss)		 4.19 2.17 -0.31 2.68 3.08 3.24 2.29 4.42 5.88 4.98 5.03
Net Income / (Loss) Continuing Operations		 4.19 2.17 -0.18 2.68 3.80 3.24 2.46 4.42 6.62 4.98 5.03
Total Pre-Tax Income 		5.06 2.69 -0.49 3.23 3.69 3.90 2.65 5.38 7.23 6.05 6.08
Total Revenue		 11 10 11 12 13 13 13 14 16 15 16
Net Interest Income / (Expense)		 8.48 8.25 8.68 9.43 10 10 11 12 13 13 13
Total Interest Income		 16 16 17 19 18 18 19 19 20 19 19
Loans and Leases Interest Income		 10 10 11 13 13 13 13 14 15 14 14
Investment Securities Interest Income		 4.61 4.62 4.55 4.51 4.41 4.20 4.06 4.04 4.36 4.57 4.78
Deposits and Money Market Investments Interest Income		 0.78 1.13 1.23 0.95 0.76 1.04 0.98 0.74 0.43 0.42 0.61
Federal Funds Sold and Securities Borrowed Interest Income		 - 0.00 0.01 0.01 - 0.00 0.00 0.00 - 0.00 0.00
Total Interest Expense		 7.03 7.78 8.42 9.22 8.31 7.95 7.55 7.34 6.92 6.32 6.40
Deposits Interest Expense		 7.03 7.78 8.42 9.22 8.31 7.95 7.55 7.27 6.61 6.32 6.40
Long-Term Debt Interest Expense		 - - 0.00 0.00 0.00 - 0.00 0.07 - - 0.01
Total Non-Interest Income		 2.25 2.20 2.27 2.29 2.24 2.56 2.28 2.54 2.63 2.68 2.65
Other Service Charges		 0.42 0.32 2.07 0.19 7.69 0.47 2.10 0.20 6.75 0.53 0.28
Net Realized & Unrealized Capital Gains on Investments		 0.01 0.02 0.06 0.05 0.21 0.03 0.05 0.09 0.06 0.02 0.08
Other Non-Interest Income		 1.82 1.86 0.27 2.04 -4.77 2.07 0.30 2.25 -3.43 2.13 2.28
Provision for Credit Losses		 -0.89 -0.01 1.30 -0.01 -0.06 0.28 0.04 0.31 -0.63 -0.07 0.32
Total Non-Interest Expense		 6.56 7.76 10 8.50 8.62 8.63 11 8.52 8.67 9.33 9.30
Salaries and Employee Benefits		 3.96 4.47 4.69 4.95 5.11 5.18 5.21 5.11 5.35 5.83 5.79
Net Occupancy & Equipment Expense		 1.32 1.41 1.44 1.68 1.71 1.72 1.35 1.62 1.71 1.81 1.80
Property & Liability Insurance Claims		 0.19 0.19 0.19 0.21 0.22 0.21 0.21 0.21 0.20 0.21 0.21
Other Operating Expenses		 1.09 1.22 1.52 1.41 1.45 1.38 3.72 1.44 1.41 1.39 1.42
Amortization Expense		 - 0.00 0.04 0.10 - 0.10 0.10 0.09 0.09 0.09 0.08
Income Tax Expense		 0.88 0.52 -0.18 0.55 0.61 0.67 0.36 0.96 1.35 1.07 1.05
Basic Earnings per Share		 $0.71 $0.37 ($0.05) $0.42 $0.50 $0.51 $0.36 $0.70 $0.92 $0.78 $0.79
Weighted Average Basic Shares Outstanding		 5.89M 5.89M 6.03M 6.36M 6.16M 6.36M 6.36M 6.36M 6.36M 6.36M 6.36M
Diluted Earnings per Share		 $0.71 $0.37 ($0.05) $0.42 $0.50 $0.51 $0.36 $0.69 $0.93 $0.78 $0.79
Weighted Average Diluted Shares Outstanding		 5.89M 5.89M 6.03M 6.36M 6.16M 6.36M 6.36M 6.36M 6.36M 6.37M 6.37M
Weighted Average Basic & Diluted Shares Outstanding		 5.89M 5.89M 6.36M 6.36M 6.36M 6.36M 6.37M 6.37M 6.37M 6.37M 6.37M
Cash Dividends to Common per Share		 $0.78 $0.00 $0.73 $0.00 $0.78 $0.00 $0.73 $0.00 $0.78 $0.00 $0.75

Annual Cash Flow Statements for National Bankshares

This table details how cash moves in and out of National Bankshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -0.74 1.82 -1.05 -0.04 -2.59 2.86 4.92 -67 15 22 -49
Net Cash From Operating Activities		 21 18 11 20 19 14 23 30 16 9.44 18
Net Cash From Continuing Operating Activities		 21 18 11 20 19 14 23 30 16 9.44 18
Net Income / (Loss) Continuing Operations		 16 15 14 16 17 16 20 26 16 7.62 16
Consolidated Net Income / (Loss)		 16 15 14 16 17 16 20 26 16 7.62 16
Provision For Loan Losses		 - 1.65 0.16 -0.08 0.13 1.99 -0.40 0.71 -1.26 1.23 -0.02
Depreciation Expense		 0.75 0.80 0.81 0.77 0.74 0.71 0.64 0.61 0.75 0.90 1.10
Amortization Expense		 1.12 0.35 0.13 0.11 0.21 1.46 1.69 1.26 1.08 1.57 1.56
Non-Cash Adjustments to Reconcile Net Income		 1.33 -1.11 -3.51 -0.62 -1.77 -5.57 -0.49 -0.17 2.74 0.11 -1.70
Changes in Operating Assets and Liabilities, net		 1.50 0.91 -0.68 3.47 2.06 -0.76 1.06 1.16 -3.48 -2.00 1.12
Net Cash From Investing Activities		 -50 -32 -20 -3.63 -62 -178 -193 -130 53 16 -39
Net Cash From Continuing Investing Activities		 -50 -32 -20 -3.63 -62 -178 -193 -130 53 16 -39
Purchase of Investment Securities		 -127 -322 -75 -69 -415 -278 -274 -189 -13 -33 -118
Sale of Property, Leasehold Improvements and Equipment		 0.00 0.00 0.22 0.00 0.02 0.00 0.00 0.01 0.00 0.00 0.00
Divestitures		 - - - - - - - - - 6.90 0.00
Sale and/or Maturity of Investments		 77 290 55 66 354 84 37 28 66 29 63
Other Investing Activities, net		 - - 0.30 - - 18 45 33 0.71 13 16
Net Cash From Financing Activities		 29 17 8.15 -16 40 167 175 33 -54 -3.71 -28
Net Cash From Continuing Financing Activities		 29 17 8.15 -16 40 167 175 33 -54 -3.71 -28
Net Change in Deposits		 36 25 16 -7.79 68 177 197 48 -39 11 -18
Issuance of Debt		 - - - - - - - - - -5.23 0.00
Repayment of Debt		 - - - - - - - - 0.00 0.00 0.00
Payment of Dividends		 -7.93 -8.07 -8.14 -8.42 -9.03 -9.00 -8.81 -8.95 -15 -9.26 -9.61
Cash Interest Paid		 4.20 4.17 4.12 5.02 7.33 5.93 3.11 3.03 20 34 29
Cash Income Taxes Paid		 4.79 3.94 4.09 1.78 2.54 3.86 3.18 3.86 2.55 0.72 2.21

Quarterly Cash Flow Statements for National Bankshares

This table details how cash moves in and out of National Bankshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 33 35 -22 -49 58 14 -30 -51 17 2.90 -7.59
Net Cash From Operating Activities		 2.19 3.84 -2.96 3.14 5.42 2.57 2.07 6.12 7.14 3.30 3.51
Net Cash From Continuing Operating Activities		 2.19 3.84 -2.96 3.14 5.42 2.57 2.07 6.12 7.14 3.30 3.51
Net Income / (Loss) Continuing Operations		 4.19 2.17 -0.31 2.68 3.08 3.24 2.29 4.42 5.88 4.98 5.03
Consolidated Net Income / (Loss)		 4.19 2.17 -0.31 2.68 3.08 3.24 2.29 4.42 5.88 4.98 5.03
Provision For Loan Losses		 -0.89 -0.01 1.30 -0.01 -0.06 0.28 0.04 0.31 -0.63 -0.07 0.32
Depreciation Expense		 0.21 0.21 0.21 0.24 0.24 0.25 0.26 0.28 0.31 0.31 0.32
Amortization Expense		 0.27 0.26 0.35 0.49 0.66 0.43 0.38 0.33 0.42 0.34 0.29
Non-Cash Adjustments to Reconcile Net Income		 0.20 0.18 -0.47 -0.97 1.18 -0.82 -0.74 -0.43 0.29 -1.26 -0.17
Changes in Operating Assets and Liabilities, net		 -1.78 1.03 -4.05 0.71 0.32 -0.80 -0.16 1.21 0.88 -0.99 -2.28
Net Cash From Investing Activities		 -3.41 -3.10 13 -9.96 16 -1.10 3.02 -41 -0.24 -3.21 -6.00
Net Cash From Continuing Investing Activities		 -3.41 -3.10 13 -9.96 16 -1.10 3.02 -41 -0.24 -3.21 -6.00
Purchase of Investment Securities		 -8.34 -7.92 -13 -14 1.68 -18 -8.33 -62 -31 -16 -157
Sale and/or Maturity of Investments		 4.93 1.68 15 0.68 1.97 14 4.63 16 26 7.86 139
Other Investing Activities, net		 - 3.15 3.62 3.07 13 2.98 6.72 4.55 4.81 5.35 11
Net Cash From Financing Activities		 34 34 -32 -42 37 13 -35 -16 10 2.81 -5.10
Net Cash From Continuing Financing Activities		 34 34 -32 -42 37 13 -35 -16 10 2.81 -5.10
Net Change in Deposits		 39 34 -22 -42 42 13 -30 -66 65 2.81 -0.32
Payment of Dividends		 -4.60 0.00 -4.30 -0.00 -4.96 0.00 -4.65 - -4.97 0.00 -4.78
Cash Interest Paid		 6.17 6.68 8.54 9.53 8.93 7.98 7.46 7.11 6.94 6.28 6.55
Cash Income Taxes Paid		 -1.45 0.26 0.46 - - 0.00 1.08 0.09 1.04 1.11 0.71

Annual Balance Sheets for National Bankshares

This table presents National Bankshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,204 1,234 1,257 1,256 1,322 1,520 1,702 1,678 1,655 1,812 1,825
Cash and Due from Banks		 12 14 13 13 10 13 8.77 12 13 14 8.42
Federal Funds Sold		 - - - - - - - - 0.00 0.30 0.00
Interest Bearing Deposits at Other Banks		 131 80 51 43 77 121 130 59 74 94 51
Trading Account Securities		 388 439 459 425 436 548 687 657 619 603 654
Loans and Leases, Net of Allowance		 611 639 660 702 727 760 796 845 848 978 989
Premises and Equipment, Net		 9.02 8.85 8.22 8.65 8.92 10 9.72 10 11 17 18
Goodwill		 - - - 5.85 5.85 5.85 5.85 5.85 5.85 11 11
Intangible Assets		 6.22 5.97 5.90 - - - - - 0.00 1.86 1.49
Other Assets		 46 46 60 58 57 62 66 89 85 94 91
Total Liabilities & Shareholders' Equity		 1,204 1,234 1,257 1,256 1,322 1,520 1,702 1,678 1,655 1,812 1,825
Total Liabilities		 1,031 1,056 1,072 1,066 1,138 1,319 1,510 1,555 1,515 1,655 1,640
Non-Interest Bearing Deposits		 166 172 183 195 202 277 317 328 281 290 313
Interest Bearing Deposits		 852 871 877 857 918 1,020 1,177 1,215 1,223 1,355 1,314
Accrued Interest Payable		 0.06 0.06 0.06 0.09 0.14 0.06 0.05 0.11 1.42 1.46 1.58
Long-Term Debt		 - - - - - - - - - - 0.00
Other Long-Term Liabilities		 12 12 12 14 18 22 16 12 9.46 9.01 11
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 172 178 185 190 184 201 192 123 141 156 185
Total Preferred & Common Equity		 172 178 185 190 184 201 192 123 141 156 185
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 172 178 185 190 184 201 192 123 141 156 185
Common Stock		 8.70 8.70 8.70 8.70 8.11 8.04 7.58 7.36 7.40 22 22
Retained Earnings		 171 178 186 194 184 190 188 199 198 196 203
Accumulated Other Comprehensive Income / (Loss)		 -7.94 -8.66 -9.70 -12 -8.51 3.02 -4.06 -84 -65 -62 -40

Quarterly Balance Sheets for National Bankshares

This table presents National Bankshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,592 1,689 1,809 1,785 1,836 1,807 1,802 1,829 1,833
Cash and Due from Banks		 13 11 15 16 15 9.80 9.19 7.98 8.85
Federal Funds Sold		 - - 3.50 0.07 0.26 0.00 0.00 0.00 0.00
Interest Bearing Deposits at Other Banks		 40 111 80 34 107 83 33 54 46
Trading Account Securities		 592 610 605 623 597 591 631 659 653
Loans and Leases, Net of Allowance		 839 854 979 991 993 1,000 1,006 986 1,005
Premises and Equipment, Net		 11 11 15 16 18 18 20 18 18
Goodwill		 5.85 5.85 11 11 11 11 11 11 11
Intangible Assets		 - - 2.07 1.96 1.77 1.67 1.58 1.40 1.32
Other Assets		 91 87 98 92 93 92 91 92 90
Total Liabilities & Shareholders' Equity		 1,592 1,689 1,809 1,785 1,836 1,807 1,802 1,829 1,833
Total Liabilities		 1,476 1,550 1,660 1,617 1,668 1,638 1,623 1,642 1,640
Non-Interest Bearing Deposits		 303 284 296 296 301 306 313 303 313
Interest Bearing Deposits		 1,162 1,254 1,349 1,306 1,357 1,321 1,249 1,327 1,316
Accrued Interest Payable		 0.55 2.51 2.53 2.07 1.43 1.52 1.62 1.60 1.44
Long-Term Debt		 - - - - - - 50 - 0.00
Other Long-Term Liabilities		 10 9.49 13 12 9.25 8.68 9.67 10 9.57
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 116 139 149 168 167 169 179 187 192
Total Preferred & Common Equity		 116 139 149 168 167 169 179 187 192
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 116 139 149 168 167 169 179 187 192
Common Stock		 7.38 7.44 22 22 22 22 22 22 22
Retained Earnings		 198 200 196 198 200 197 202 208 208
Accumulated Other Comprehensive Income / (Loss)		 -90 -68 -68 -52 -54 -50 -44 -42 -38

Annual Metrics And Ratios for National Bankshares

This table displays calculated financial ratios and metrics derived from National Bankshares' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 6,947,974.00 6,957,974.00 6,957,974.00 6,957,974.00 6,489,574.00 6,478,997.00 6,087,758.00 5,947,875.00 5,891,739.00 - 6,366,001.00
DEI Adjusted Shares Outstanding		 6,947,974.00 6,957,974.00 6,957,974.00 6,957,974.00 6,489,574.00 6,478,997.00 6,087,758.00 5,947,875.00 5,891,739.00 - 6,366,001.00
DEI Earnings Per Adjusted Shares Outstanding		 2.28 2.15 2.03 2.32 2.69 2.48 3.35 4.36 2.66 - 2.49
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.11% -9.00% 2.03% 2.54% 1.42% -0.95% 9.11% 19.35% -22.33% -1.21% 24.51%
EBITDA Growth		 -6.65% -10.68% 6.36% -8.12% 10.43% -1.44% 26.46% 27.06% -40.13% -39.93% 96.05%
EBIT Growth		 -6.88% -8.16% 7.89% -8.21% 10.51% -7.37% 28.61% 31.47% -42.33% -47.29% 120.09%
NOPAT Growth		 -6.39% -5.63% -5.69% 14.61% 8.14% -7.95% 26.78% 27.23% -39.49% -51.42% 107.61%
Net Income Growth		 -6.39% -5.63% -5.69% 14.61% 8.14% -7.95% 26.78% 27.23% -39.49% -51.42% 107.61%
EPS Growth		 -6.17% -5.70% -5.58% 14.29% 14.22% 0.00% 0.00% 0.00% -38.57% -53.38% 100.81%
Operating Cash Flow Growth		 0.94% -14.59% -37.30% 80.08% -4.87% -26.76% 65.90% 28.92% -47.38% -39.20% 89.55%
Free Cash Flow Firm Growth		 386.59% -12.26% -15.17% 44.91% 121.83% -103.35% 3,736.57% 224.91% -102.26% -285.45% -53.38%
Invested Capital Growth		 3.49% 3.57% 3.72% 2.89% -3.42% 9.19% -4.41% -36.02% 14.54% 11.31% 18.22%
Revenue Q/Q Growth		 0.24% -7.24% 6.96% 2.91% 0.97% -3.40% 2.71% 11.96% -15.72% 3.90% 5.94%
EBITDA Q/Q Growth		 -4.08% -1.57% 9.23% 3.10% 1.99% -6.32% 3.56% 19.74% -25.52% -5.69% 19.47%
EBIT Q/Q Growth		 -4.08% -0.92% 9.89% 3.43% 1.34% -8.19% 4.10% 21.70% -27.44% -10.54% 22.51%
NOPAT Q/Q Growth		 -3.53% -0.59% -2.64% 10.05% 1.24% -1.37% 3.55% 18.56% -24.62% -12.67% 21.51%
Net Income Q/Q Growth		 -3.53% -0.59% -2.64% 10.05% 1.24% 1.08% 1.51% 18.56% -24.62% -12.67% 21.51%
EPS Q/Q Growth		 -3.39% -0.92% -1.93% 9.43% 3.11% 0.00% 0.00% 0.00% 0.00% -14.48% 20.87%
Operating Cash Flow Q/Q Growth		 -36.81% 3.77% -27.77% 39.42% 5.14% -17.01% 7.32% 25.67% -36.80% 51.96% 10.66%
Free Cash Flow Firm Q/Q Growth		 106.94% 66.60% -31.92% 151.92% -54.26% -138.38% -5.76% -5.51% -112.69% 80.75% 73.82%
Invested Capital Q/Q Growth		 -1.31% -3.19% -1.47% -14.75% -2.27% -0.78% 0.47% 9.36% 21.02% -6.78% -19.33%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 46.54% 45.67% 47.61% 42.66% 46.45% 46.23% 53.58% 57.04% 43.96% 26.73% 40.25%
EBIT Margin		 42.67% 43.06% 45.53% 40.76% 44.41% 41.54% 48.96% 53.93% 40.04% 21.36% 35.55%
Profit (Net Income) Margin		 32.84% 34.05% 31.48% 35.18% 37.52% 34.86% 40.51% 43.18% 33.64% 16.54% 28.02%
Tax Burden Percent		 76.96% 79.08% 69.13% 86.32% 84.47% 83.94% 82.74% 81.64% 84.02% 83.57% 82.57%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 98.08% 100.00% 92.67% 95.46%
Effective Tax Rate		 23.04% 20.92% 30.87% 13.68% 15.53% 16.06% 17.26% 18.36% 15.98% 16.43% 17.43%
Return on Invested Capital (ROIC)		 9.36% 8.53% 7.76% 8.61% 9.34% 8.37% 10.39% 16.49% 11.92% 5.13% 9.27%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.27%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.27%
Cash Return on Invested Capital (CROIC)		 5.92% 5.02% 4.11% 5.76% 12.82% -0.42% 14.90% 60.42% -1.63% -5.57% -7.43%
Operating Return on Assets (OROA)		 1.74% 1.55% 1.64% 1.49% 1.60% 1.35% 1.53% 1.92% 1.12% 0.57% 1.10%
Return on Assets (ROA)		 1.34% 1.23% 1.13% 1.29% 1.36% 1.13% 1.27% 1.53% 0.94% 0.44% 0.87%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.27%
Return on Equity Simple (ROE_SIMPLE)		 9.20% 8.38% 7.62% 8.49% 9.51% 8.01% 10.63% 21.14% 11.17% 4.87% 8.56%
Net Operating Profit after Tax (NOPAT)		 16 15 14 16 17 16 20 26 16 7.62 16
NOPAT Margin		 32.84% 34.05% 31.48% 35.18% 37.52% 34.86% 40.51% 43.18% 33.64% 16.54% 28.02%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 33.02% 38.02% 39.69% 41.68% 42.87% 42.41% 41.00% 36.04% 49.04% 55.29% 48.44%
Operating Expenses to Revenue		 53.17% 53.18% 54.12% 59.42% 55.32% 54.15% 51.83% 44.89% 62.66% 75.97% 64.48%
Earnings before Interest and Taxes (EBIT)		 21 19 20 19 21 19 25 32 19 9.84 20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 22 20 21 20 22 21 27 34 21 12 23
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 1.24 1.28 1.03 1.26 0.84 0.98 1.76 1.29 1.17 1.15
Price to Tangible Book Value (P/TBV)		 0.00 1.28 1.33 1.06 1.30 0.87 1.01 1.85 1.35 1.27 1.24
Price to Revenue (P/Rev)		 0.00 5.03 5.30 4.25 4.98 3.66 3.75 3.60 3.89 3.96 3.78
Price to Earnings (P/E)		 0.00 14.76 16.83 12.08 13.28 10.49 9.26 8.14 11.56 21.88 12.75
Dividend Yield		 4.54% 3.66% 3.43% 4.31% 3.89% 5.34% 4.65% 4.13% 8.15% 5.26% 4.50%
Earnings Yield		 0.00% 6.77% 5.94% 8.28% 7.53% 9.53% 10.80% 12.29% 8.65% 4.57% 7.84%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.71 0.94 0.73 0.79 0.17 0.26 1.18 0.67 0.48 0.83
Enterprise Value to Revenue (EV/Rev)		 0.00 2.88 3.86 3.02 3.11 0.76 0.99 2.41 2.03 1.62 2.73
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 6.30 8.12 7.09 6.69 1.63 1.85 4.22 4.62 6.05 6.78
Enterprise Value to EBIT (EV/EBIT)		 0.00 6.69 8.49 7.42 7.00 1.82 2.02 4.47 5.08 7.57 7.68
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 8.45 12.28 8.59 8.29 2.17 2.45 5.58 6.04 9.77 9.74
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 7.20 15.74 7.01 7.69 2.53 2.18 4.90 6.11 7.89 8.62
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 14.37 23.20 12.84 6.04 0.00 1.71 1.52 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage Ratio		 6.97 6.96 6.86 6.70 6.89 7.39 8.21 10.75 12.66 11.68 10.65
Compound Leverage Factor		 6.97 6.96 6.86 6.70 6.89 7.39 8.21 10.54 12.66 10.82 10.17
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 10 8.79 7.46 11 24 -0.80 29 95 -2.14 -8.26 -13
Operating Cash Flow to CapEx		 3,096.38% 2,765.46% 28,187.18% 1,662.13% 1,853.54% 757.03% 7,084.21% 2,361.89% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 2.40 2.11 1.81 2.14 3.25 -0.14 9.44 30.81 -0.10 -0.25 -0.43
Operating Cash Flow to Interest Expense		 4.91 4.21 2.67 3.92 2.55 2.36 7.39 9.57 0.72 0.28 0.60
Operating Cash Flow Less CapEx to Interest Expense		 4.75 4.06 2.66 3.69 2.41 2.05 7.28 9.16 0.72 0.28 0.60
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.03 0.03 0.04 0.03 0.03 0.03
Fixed Asset Turnover		 5.31 4.91 5.24 5.44 5.30 4.87 5.09 5.98 4.34 3.29 3.20
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 172 178 185 190 184 201 192 123 141 156 185
Invested Capital Turnover		 0.29 0.25 0.25 0.24 0.25 0.24 0.26 0.38 0.35 0.31 0.33
Increase / (Decrease) in Invested Capital		 5.81 6.15 6.63 5.34 -6.51 17 -8.86 -69 18 16 29
Enterprise Value (EV)		 0.00 126 173 139 145 35 50 145 95 75 154
Market Capitalization		 0.00 221 237 195 232 169 189 216 181 183 213
Book Value per Share		 $24.75 $25.62 $26.57 $27.34 $28.31 $30.96 $31.50 $20.63 $23.85 $24.59 $29.05
Tangible Book Value per Share		 $23.86 $24.76 $25.73 $26.50 $27.41 $30.06 $30.54 $19.64 $22.86 $22.61 $27.13
Total Capital		 172 178 185 190 184 201 192 123 141 156 185
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -143 -94 -64 -56 -87 -134 -139 -71 -87 -108 -59
Capital Expenditures (CapEx)		 0.66 0.63 0.04 1.19 1.02 1.82 0.32 1.25 0.00 -0.05 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Depreciation and Amortization (D&A)		 1.87 1.15 0.93 0.87 0.95 2.16 2.32 1.87 1.83 2.47 2.66
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.28 $2.15 $2.03 $2.32 $2.65 $2.48 $0.00 $4.33 $2.66 $1.24 $2.49
Adjusted Weighted Average Basic Shares Outstanding		 6.96M 6.96M 6.96M 6.51M 6.49M 6.39M 6.02M 5.89M 5.89M 6.16M 6.36M
Adjusted Diluted Earnings per Share		 $2.28 $2.15 $2.03 $2.32 $2.65 $2.48 $0.00 $0.00 $2.66 $1.24 $2.49
Adjusted Weighted Average Diluted Shares Outstanding		 6.96M 6.96M 6.96M 6.51M 6.49M 6.39M 6.02M 5.89M 5.89M 6.16M 6.36M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 6.96M 6.96M 6.96M 6.51M 6.49M 6.39M 6.02M 5.89M 5.89M 6.36M 6.37M
Normalized Net Operating Profit after Tax (NOPAT)		 16 15 14 16 17 16 20 26 16 10 16
Normalized NOPAT Margin		 32.84% 34.05% 31.48% 35.18% 37.52% 34.86% 40.51% 43.18% 33.64% 22.15% 28.02%
Pre Tax Income Margin		 42.67% 43.06% 45.53% 40.76% 44.41% 41.54% 48.96% 52.90% 40.04% 19.80% 33.94%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.92 4.54 4.94 3.71 2.80 3.28 7.95 10.50 0.87 0.29 0.67
NOPAT to Interest Expense		 3.79 3.59 3.42 3.20 2.37 2.75 6.58 8.41 0.73 0.23 0.53
EBIT Less CapEx to Interest Expense		 4.76 4.38 4.93 3.47 2.66 2.97 7.85 10.10 0.87 0.29 0.67
NOPAT Less CapEx to Interest Expense		 3.63 3.43 3.41 2.96 2.23 2.44 6.47 8.01 0.73 0.23 0.53
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 50.09% 54.02% 57.77% 52.13% 51.71% 55.98% 43.20% 34.51% 94.22% 121.53% 60.73%
Augmented Payout Ratio		 50.09% 54.02% 57.77% 52.13% 157.78% 66.69% 108.72% 58.95% 94.22% 121.53% 60.73%

Quarterly Metrics And Ratios for National Bankshares

This table displays calculated financial ratios and metrics derived from National Bankshares' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 5,891,739.00 5,893,782.00 5,893,782.00 6,361,433.00 - 6,363,371.00 6,363,371.00 6,366,001.00 6,366,001.00 6,368,410.00 6,368,410.00
DEI Adjusted Shares Outstanding		 5,891,739.00 5,893,782.00 5,893,782.00 6,361,433.00 - 6,363,371.00 6,363,371.00 6,366,001.00 6,366,001.00 6,368,410.00 6,368,410.00
DEI Earnings Per Adjusted Shares Outstanding		 0.71 0.37 -0.05 0.42 - 0.51 0.36 0.69 0.92 0.78 0.79
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -44.77% -20.55% -7.81% 8.98% 22.43% 22.66% 21.41% 21.24% 32.09% 19.44% 16.79%
EBITDA Growth		 -55.89% -46.38% -95.76% -5.38% -1.17% 44.73% 1,574.40% 51.54% 103.58% 46.38% 92.99%
EBIT Growth		 -58.24% -50.87% -108.08% -12.57% -9.52% 44.95% 885.79% 66.75% 123.83% 54.97% 115.42%
NOPAT Growth		 -55.05% -52.02% -108.70% -12.91% -26.43% 48.85% 774.23% 65.11% 91.00% 53.92% 119.70%
Net Income Growth		 -55.05% -52.02% -107.87% -12.91% -26.43% 48.85% 845.60% 65.11% 91.00% 53.92% 119.70%
EPS Growth		 0.00% -51.95% -107.58% -19.23% -29.58% 37.84% 820.00% 64.29% 86.00% 52.94% 119.44%
Operating Cash Flow Growth		 -80.49% -11.38% -188.59% -44.56% 147.28% -33.18% 169.88% 94.87% 31.82% 28.60% 69.91%
Free Cash Flow Firm Growth		 -117.42% -117.75% -278.32% -5,650.23% 6.17% -299.35% 16.18% -16.38% -76.61% 38.59% -5.62%
Invested Capital Growth		 14.54% 6.37% 15.98% 44.50% 11.31% 20.01% 13.27% 36.62% 18.22% 12.03% 13.92%
Revenue Q/Q Growth		 -0.20% -2.70% 5.99% 5.88% 12.13% 5.68% 4.91% 5.74% 12.67% -4.43% 2.57%
EBITDA Q/Q Growth		 32.69% -42.99% -93.45% 1,810.14% 42.08% 7.07% -24.24% 72.88% 45.18% -23.01% -0.12%
EBIT Q/Q Growth		 37.20% -46.84% -113.34% 998.89% 42.03% 9.55% -27.70% 90.75% 48.17% -24.16% 0.50%
NOPAT Q/Q Growth		 36.14% -48.05% -115.62% 888.51% 15.06% 5.10% -29.26% 93.10% 33.05% -15.30% 0.96%
Net Income Q/Q Growth		 36.14% -48.05% -114.12% 971.99% 15.06% 5.10% -29.26% 93.10% 33.05% -15.30% 0.96%
EPS Q/Q Growth		 36.54% -47.89% -113.51% 940.00% 19.05% 2.00% -29.41% 91.67% 34.78% -16.13% 1.28%
Operating Cash Flow Q/Q Growth		 -61.29% 75.26% -177.03% 206.09% 73.38% -52.64% -19.45% 195.84% 16.79% -53.79% 6.42%
Free Cash Flow Firm Q/Q Growth		 -1,502.11% 54.78% -237.90% -134.88% 73.86% -92.49% 29.08% -226.12% 60.33% 33.07% -21.98%
Invested Capital Q/Q Growth		 21.02% -0.81% 6.87% 12.63% -6.78% 6.95% 0.87% 35.85% -19.33% 1.35% 2.58%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 51.66% 30.27% 1.87% 33.73% 41.70% 35.71% 25.79% 42.16% 54.33% 43.77% 42.62%
EBIT Margin		 47.18% 25.78% -3.24% 27.53% 34.87% 30.46% 20.99% 37.87% 49.79% 39.52% 38.72%
Profit (Net Income) Margin		 38.99% 20.82% -2.77% 22.84% 23.43% 25.26% 17.03% 31.10% 36.73% 32.55% 32.04%
Tax Burden Percent		 82.64% 80.76% 63.30% 82.96% 83.51% 82.93% 86.34% 82.14% 81.32% 82.37% 82.75%
Interest Burden Percent		 100.00% 100.00% 135.10% 100.00% 80.47% 100.00% 93.97% 100.00% 90.71% 100.00% 100.00%
Effective Tax Rate		 17.36% 19.24% 0.00% 17.04% 16.49% 17.07% 13.66% 17.86% 18.68% 17.63% 17.25%
Return on Invested Capital (ROIC)		 13.82% 6.76% -0.95% 7.07% 7.27% 7.86% 5.45% 8.35% 12.15% 10.82% 10.87%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.35% 12.15% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.20% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.56% 12.15% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 -1.63% 3.69% -8.21% -30.25% -5.57% -12.52% -5.35% -24.39% -7.43% -1.44% -1.76%
Operating Return on Assets (OROA)		 1.32% 0.68% -0.08% 0.72% 0.93% 0.82% 0.59% 1.13% 1.55% 1.27% 1.30%
Return on Assets (ROA)		 1.09% 0.55% -0.07% 0.59% 0.62% 0.68% 0.48% 0.92% 1.14% 1.05% 1.08%
Return on Common Equity (ROCE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.56% 12.15% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 9.57% 6.13% 5.20% 0.00% 5.19% 6.69% 7.27% 0.00% 9.38% 10.57%
Net Operating Profit after Tax (NOPAT)		 4.19 2.17 -0.34 2.68 3.08 3.24 2.29 4.42 5.88 4.98 5.03
NOPAT Margin		 38.99% 20.82% -3.07% 22.84% 23.43% 25.26% 17.03% 31.10% 36.73% 32.55% 32.04%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 49.20% 56.22% 55.32% 56.57% 51.91% 53.88% 49.37% 47.37% 44.14% 49.97% 48.36%
Operating Expenses to Revenue		 61.14% 74.32% 91.48% 72.51% 65.59% 67.39% 78.74% 59.98% 54.17% 60.96% 59.26%
Earnings before Interest and Taxes (EBIT)		 5.06 2.69 -0.36 3.23 4.58 3.90 2.82 5.38 7.97 6.05 6.08
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5.55 3.16 0.21 3.95 5.48 4.58 3.47 5.99 8.70 6.70 6.69
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.29 1.34 1.06 1.08 1.17 0.96 1.03 1.05 1.15 1.24 1.20
Price to Tangible Book Value (P/TBV)		 1.35 1.40 1.16 1.16 1.27 1.04 1.11 1.12 1.24 1.32 1.28
Price to Revenue (P/Rev)		 3.89 4.27 3.68 4.10 3.96 3.36 3.41 3.52 3.78 3.93 3.78
Price to Earnings (P/E)		 11.56 14.06 17.09 20.38 21.88 18.49 14.37 13.59 12.75 12.55 10.99
Dividend Yield		 8.15% 7.89% 5.63% 5.32% 5.26% 5.99% 5.55% 5.13% 4.50% 4.15% 4.21%
Earnings Yield		 8.65% 7.11% 5.85% 4.91% 4.57% 5.41% 6.96% 7.36% 7.84% 7.97% 9.10%
Enterprise Value to Invested Capital (EV/IC)		 0.67 0.48 0.40 0.78 0.48 0.23 0.48 0.85 0.83 0.91 0.92
Enterprise Value to Revenue (EV/Rev)		 2.03 1.51 1.38 2.97 1.62 0.80 1.58 3.66 2.73 2.88 2.89
Enterprise Value to EBITDA (EV/EBITDA)		 4.62 3.73 4.53 10.16 6.05 2.92 4.72 10.25 6.78 6.83 6.30
Enterprise Value to EBIT (EV/EBIT)		 5.08 4.17 5.34 12.30 7.57 3.68 5.64 11.91 7.68 7.64 6.94
Enterprise Value to NOPAT (EV/NOPAT)		 6.04 4.97 6.49 14.97 9.77 4.38 7.11 14.98 9.74 9.66 8.70
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.11 4.41 6.78 21.04 7.89 4.66 6.08 12.07 8.62 9.11 8.81
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 13.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28 0.00 0.00 0.00
Financial Leverage		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.14 0.00 0.00 0.00
Leverage Ratio		 12.66 12.36 12.38 11.90 11.68 11.49 11.38 10.34 10.65 10.33 10.08
Compound Leverage Factor		 12.66 12.36 16.73 11.90 9.40 11.49 10.70 10.34 9.66 10.33 10.08
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21.81% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21.81% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 78.19% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.63 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.40 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.63 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.84 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.59 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.84 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -14 -6.17 -21 -49 -13 -25 -17 -57 -23 -15 -18
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -1.94 -0.79 -2.48 -5.31 -1.54 -3.10 -2.32 -7.77 -3.27 -2.40 -2.88
Operating Cash Flow to Interest Expense		 0.31 0.49 -0.35 0.34 0.65 0.32 0.27 0.83 1.03 0.52 0.55
Operating Cash Flow Less CapEx to Interest Expense		 0.31 0.49 -0.35 0.34 0.65 0.32 0.27 0.83 1.03 0.52 0.55
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 4.34 4.06 3.24 3.23 3.29 3.31 3.05 2.96 3.20 3.28 3.39
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 141 139 149 168 156 167 169 229 185 187 192
Invested Capital Turnover		 0.35 0.33 0.31 0.31 0.31 0.31 0.32 0.27 0.33 0.33 0.34
Increase / (Decrease) in Invested Capital		 18 8.35 21 52 16 28 20 61 29 20 23
Enterprise Value (EV)		 95 66 59 131 75 38 80 195 154 170 177
Market Capitalization		 181 187 158 180 183 161 173 187 213 232 231
Book Value per Share		 $23.85 $23.65 $25.27 $26.37 $24.59 $26.29 $26.52 $28.15 $29.05 $29.43 $30.19
Tangible Book Value per Share		 $22.86 $22.66 $23.10 $24.38 $22.61 $24.33 $24.57 $26.22 $27.13 $27.52 $28.30
Total Capital		 141 139 149 168 156 167 169 229 185 187 192
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50 0.00 0.00 0.00
Net Debt		 -87 -121 -99 -50 -108 -123 -93 7.70 -59 -62 -55
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 -0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50 0.00 0.00 0.00
Total Depreciation and Amortization (D&A)		 0.48 0.47 0.57 0.73 0.90 0.67 0.65 0.61 0.73 0.65 0.61
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.71 $0.37 ($0.05) $0.42 $0.50 $0.51 $0.36 $0.70 $0.92 $0.78 $0.79
Adjusted Weighted Average Basic Shares Outstanding		 5.89M 5.89M 6.03M 6.36M 6.16M 6.36M 6.36M 6.36M 6.36M 6.36M 6.36M
Adjusted Diluted Earnings per Share		 $0.71 $0.37 ($0.05) $0.42 $0.50 $0.51 $0.36 $0.69 $0.93 $0.78 $0.79
Adjusted Weighted Average Diluted Shares Outstanding		 5.89M 5.89M 6.03M 6.36M 6.16M 6.36M 6.36M 6.36M 6.36M 6.37M 6.37M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 5.89M 5.89M 6.36M 6.36M 6.36M 6.36M 6.37M 6.37M 6.37M 6.37M 6.37M
Normalized Net Operating Profit after Tax (NOPAT)		 4.19 2.56 1.24 2.80 3.10 3.24 2.29 4.42 5.88 4.98 5.03
Normalized NOPAT Margin		 38.99% 24.56% 11.21% 23.90% 23.59% 25.26% 17.03% 31.10% 36.73% 32.55% 32.04%
Pre Tax Income Margin		 47.18% 25.78% -4.38% 27.53% 28.06% 30.46% 19.72% 37.87% 45.17% 39.52% 38.72%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.72 0.35 -0.04 0.35 0.55 0.49 0.37 0.73 1.15 0.96 0.95
NOPAT to Interest Expense		 0.60 0.28 -0.04 0.29 0.37 0.41 0.30 0.60 0.85 0.79 0.79
EBIT Less CapEx to Interest Expense		 0.72 0.35 -0.04 0.35 0.55 0.49 0.37 0.73 1.15 0.96 0.95
NOPAT Less CapEx to Interest Expense		 0.60 0.28 -0.04 0.29 0.37 0.41 0.30 0.60 0.85 0.79 0.79
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 94.22% 66.70% 97.49% 101.94% 121.53% 106.67% 85.16% 73.76% 60.73% 54.70% 47.98%
Augmented Payout Ratio		 94.22% 66.70% 97.49% 101.94% 121.53% 106.67% 85.16% 73.76% 60.73% 54.70% 47.98%

Financials Breakdown Chart

Key Financial Trends

National Bankshares’ recent results show a meaningful improvement in profitability. Second-quarter 2026 net income rose to $5.0 million, up from $2.5 million in the restated second quarter of 2025 and $3.1 million in the third quarter of 2023. Diluted earnings per share increased to $0.79 from $0.36 a year earlier. This follows a difficult second quarter of 2024, when the company reported a small net loss.

The main earnings driver has been net interest income. It increased to $13.1 million in Q2 2026 from $11.0 million in Q2 2025, $8.7 million in Q2 2024 and $8.6 million in Q3 2023. Loan interest income and investment securities income have both expanded over that period, while total interest expense has moderated from the 2024 and 2025 levels. This suggests that the bank’s earning-asset growth and funding-cost management are currently supporting margins.

National Bankshares also benefited from better operating efficiency. Total revenue reached $15.7 million in Q2 2026, compared with $13.4 million in Q2 2025, while noninterest expense declined to $9.3 million from $10.6 million. However, the improvement partly reflects fluctuations in noninterest income, particularly the “other non-interest income” category, which can be less predictable than core banking revenue.

The balance sheet has expanded steadily. Total assets grew to $1.83 billion at June 30, 2026, from $1.81 billion a year earlier and $1.59 billion at September 30, 2023. Net loans reached $1.00 billion, up from $979 million in Q2 2025 and $839 million in Q3 2023. Total deposits were broadly stable year over year at approximately $1.63 billion, indicating that loan growth has not required a significant increase in the deposit base.

Capital has also improved. Total common equity increased to $192.2 million from $168.7 million in Q2 2025 and $149.0 million in Q2 2024. Accumulated other comprehensive losses narrowed to $37.7 million from $50.4 million in Q2 2024, which helped support reported equity. Still, the balance sheet remains heavily concentrated in deposits and securities, making interest rates and deposit pricing important factors for future results.

  • Strong earnings recovery: Q2 2026 net income more than doubled year over year to $5.0 million, while diluted EPS increased to $0.79 from $0.36.
  • Improving net interest income: Net interest income has increased from $8.6 million in Q3 2023 to $13.1 million in Q2 2026, providing a stronger core earnings base.
  • Better cost control: Q2 2026 noninterest expense of $9.3 million was below the $10.6 million reported in Q2 2025, despite continued growth in the business.
  • Loan and asset growth: Net loans rose to approximately $1.00 billion, while total assets reached $1.83 billion, reflecting long-term balance-sheet expansion.
  • Improved capital position: Common equity increased to $192.2 million, and accumulated other comprehensive losses became less severe than in 2024.
  • Positive operating cash flow: Cash generated from operating activities increased to $3.5 million in Q2 2026 from $2.1 million in Q2 2025.
  • Stable deposit base: Deposits were approximately $1.63 billion at the end of Q2 2026, essentially unchanged from Q2 2025. Stability is supportive, but limited deposit growth could constrain loan expansion over time.
  • Dividend remains substantial: The Q2 2026 dividend was $0.75 per share, compared with $0.73 in Q2 2025. This supports shareholder income but also represents a significant use of cash.
  • Quarterly cash declined: Cash and equivalents fell by $7.6 million during Q2 2026 as operating cash was outweighed by investing activity and $4.8 million of dividend payments.
  • Higher credit-loss provision: The provision for credit losses increased to $317,000 in Q2 2026 from a $73,000 benefit in Q1 and $36,000 in Q2 2025, signaling a need to monitor asset quality as loans grow.

Overall, National Bankshares enters the second half of 2026 with stronger earnings, improved net interest income, expanding loans and a healthier equity position. Investors should nevertheless watch credit-loss provisions, deposit trends, cash levels and the sustainability of noninterest income. The supplied statements also include restated and calculated historical figures, so individual quarter-to-quarter comparisons should be interpreted with some caution.

10/02/26 01:27 PM ETAI Generated. May Contain Errors.

National Bankshares Financials - Frequently Asked Questions

According to the most recent income statement we have on file, National Bankshares' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

National Bankshares had net income of $15.83 million at the end of 2025, a 107.6% increase from 2024, and a 0.0% decrease since 2015. See National Bankshares' forecast for analyst expectations on what's next for the company.

Over the last 10 years, National Bankshares' total revenue changed from $48.22 million in 2015 to $56.47 million in 2025, a change of 17.1%.

In the past 11 quarters, National Bankshares' cash and equivalents has ranged from $7.98 million in Q1 2026 to $15.99 million in Q3 2024, and is currently $8.85 million as of their latest financial filing in Q2 2026.

National Bankshares had total debt of $0.00 at the end of 2025, compared with none in 2024, and none in 2015.

Over the last 10 years, National Bankshares' book value per share changed from 24.75 in 2015 to 29.05 in 2025, a change of 17.4%.


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Financial statements for NASDAQ:NKSH last updated on 8/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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