NATIONAL BANKSHARES INC NKSH
National Bankshares, Inc. (the "Company" or "NBI") is a financial holding company that was organized in 1986 under the laws of Virginia and is registered under the Bank Holding Company Act of 1956, as amended ("BHCA"). National Bankshares, Inc. common stock is listed on the Nasdaq Capital Market and is traded under the symbol "NKSH." It conducts most of its operations through its wholly-owned community bank subsidiary, The National Bank of Blacksburg (the "Bank" or "NBB"). It also owns National Bankshares Financial Services, Inc. ("NBFS"), which does business as National Bankshares Insurance Services and National Bankshares Investment Services. References in this report to "we," "us," or "our" refer to NBI unless the context indicates that the reference is to NBB.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.2M | $7.4M | $7.1M | $7.0M | $6.7M | $5.7M | $6.2M | $6.3M | $6.1M | $5.4M |
| Interest expense | $45.6M | $36.3M | $37.3M | $3.1M | $41.9M | $38.2M | $7.4M | $5.0M | $4.1M | $36.8M |
| Pre-tax income | $19.2M | $9.1M | $18.7M | $31.8M | $24.6M | $19.2M | $20.7M | $18.7M | $20.4M | $18.9M |
| Income tax | $3.3M | $1.5M | $3.0M | $5.8M | $4.3M | $3.1M | $3.2M | $2.6M | $6.3M | $4.0M |
| Net income | $15.8M | $7.6M | $15.7M | $25.9M | $20.4M | $16.1M | $17.5M | $16.2M | $14.1M | $14.9M |
| EPS, basic | 2.49 | 1.24 | 2.66 | 4.33 | 3.28 | 2.48 | 2.65 | 2.32 | 2.03 | 2.15 |
| EPS, diluted | 2.49 | 1.24 | 2.66 | 4.33 | 3.28 | 2.48 | 2.65 | 2.32 | 2.03 | 2.15 |
| Shares, diluted (wtd. avg.) | $6.4M | $6.2M | $5.9M | $6.0M | $6.2M | $6.5M | $6.6M | $7.0M | $7.0M | $7.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $59.2M | $108.1M | $86.6M | $12.4M | $8.8M | $13.1M | $10.3M | $12.9M | $12.9M | $14.0M |
| Property, plant and equipment | $18.5M | $16.8M | $11.1M | $10.4M | $9.7M | $10.0M | $8.9M | $8.6M | $8.2M | $8.9M |
| Goodwill | $10.7M | $10.7M | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M |
| Other intangibles | $1.5M | $1.9M | — | — | — | — | $5.8M | $5.8M | $5.9M | $6.0M |
| Total assets | $1.82B | $1.81B | $1.66B | $1.68B | $1.70B | $1.52B | $1.32B | $1.26B | $1.26B | $1.23B |
| Total liabilities | $1.64B | $1.66B | $1.51B | $1.55B | $1.51B | $1.32B | $1.14B | $1.07B | $1.07B | $1.06B |
| Retained earnings | $202.6M | $196.3M | $198.0M | $199.1M | $188.2M | $189.5M | $184.1M | $193.6M | $185.9M | $178.2M |
| Total equity | $184.9M | $156.4M | $140.5M | $122.7M | $191.8M | $200.6M | $183.7M | $190.2M | $184.9M | $178.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $17.9M | $9.4M | $15.5M | $29.5M | $22.9M | $13.8M | $18.8M | $19.8M | $11.0M | $17.5M |
| Depreciation and amortisation | $1.1M | $900.0K | $754.0K | $609.0K | $636.0K | $708.0K | $739.0K | $766.0K | $805.0K | $801.0K |
| Stock-based compensation | $193.0K | $128.0K | $42.0K | $0 | — | — | — | — | — | — |
| Capital expenditure | $2.7M | $3.3M | $1.5M | $1.3M | $323.0K | $1.8M | $1.0M | $1.2M | $261.0K | $634.0K |
| Investing cash flow | -$39.2M | $15.8M | $53.2M | -$129.7M | -$193.2M | -$177.6M | -$61.7M | -$3.6M | -$20.2M | -$32.2M |
| Financing cash flow | -$27.6M | -$3.7M | -$53.5M | $32.9M | $175.3M | $166.7M | $40.3M | -$16.2M | $8.2M | $16.5M |
| Dividends paid | $9.6M | $9.3M | $14.8M | $8.9M | $8.8M | $9.0M | $9.0M | $8.4M | $8.1M | $8.1M |
| Buybacks | — | — | $0 | $6.3M | $13.4M | $1.7M | $18.5M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-128311.
Others in SIC 6021
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |