FIRST COMMUNITY BANKSHARES INC /VA/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FIRST COMMUNITY BANKSHARES INC /VA/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cost of revenue	3.64	3.35
Selling and marketing	1.53	2.21	2.01	2.31	1.95	2.08	2.41	3.3	3.86	4.07
Interest expense	9.84	8.09	7.45	5.52	5.46	2.84	1.66	9.48
Pre-tax income	37.9	42.1	45.1	49.8	46.1	66.5	60.2	62	65.7	63.1
Income tax	12.8	20.6	8.78	11	10.2	15.4	13.5	14	14.1	14.3
Net income	25.1	21.5	36.3	38.8	35.9	51.2	46.7	48	51.6	48.8
EPS, basic	1.45	1.26	2.19	2.47	2.02	2.95	2.82	2.67	2.81	2.66
EPS, diluted	1.45	1.26	2.18	2.46	2.02	2.94	2.82	2.72	2.80	2.65
Shares, basic (weighted)	17.3	17	16.6	15.7	17.8	17.3	16.5	18	18.3	18.3
Shares, diluted (weighted)	17.4	17.1	16.7	15.8	17.8	17.4	16.6	18	18.4	18.4
Dividend per share	0.60	0.68	0.78	0.96	1.00	1.04	1.12	1.16	1.20	4.31

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	76.3	158	76.9	217
Property, plant and equipment	50.1	48.1	45.8	62.8	57.7	52.3	47.3	50.7	48.7	47.6
Lease right-of-use assets				0.92	0.83	0.74		0.59	0.49	0.59
Goodwill	95.8	95.8	92.8	130	130	130	130	144	144	144
Intangible assets	7.21	6.15	5.03	8.52	7.07	5.62	4.18	15.1	13	11.1
Total assets	2,386	2,388	2,244	2,799	3,011	3,195	3,136	3,269	3,261	3,260
Short-term debt				1.6
Total liabilities	2,047	2,038	1,912	2,370	2,584	2,767	2,714	2,765	2,735	2,759
Total debt	90	75						0	0
Paid-in capital	228	229	122	192	173	148	129	176	170	170
Retained earnings	170	181	196	220	238	265	293	320	349	319
Treasury stock	-78.8	-79.1
Other comprehensive income	-2.01	-0.84	-1.43	-1.51	-1.92	-1.55	-15.7	-11	-11.2	-7.51
Shareholders' equity	339	351	333	429	427	428	422	503	526	501
Total equity	339	351	333	429	427	428	422	503	526	501
Total liabilities and equity	2,386	2,388	2,244	2,799	3,011	3,195	3,136	3,269	3,261	3,260
Shares outstanding		4.38	16	18.4	17.7	16.9	16.2	18.5	18.3	18.3

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	25.1	21.5	36.3	38.8	35.9	51.2	46.7	48	51.6	48.8
Depreciation and amortization		3.56	2.91	3.45	4.46	4.47	4.15	3.95	4.35	3.74
Stock-based compensation	0.53	0.79	1.16	1.48	1.64	1.28	0.72	0.6	0.4	1.5
Deferred income tax	-1.49	5.19	0.35	-0.16	-1.51	5.25	1.96	1.35	1.85	1
Cash from operations	43.1	36.4	49.5	56.7	45.8	48.2	59	61.8	57.7	62.7
Capital expenditures	-0.79	-2.35	-2.55	-8.41	-3.2	-3.04	-1.16	-2.77	-2.81	-2.74
Acquisitions	-26.3
Purchases of investments	-1.17	-49.4	-67.4	-8.26	-10.3	-22.4	-269	-74.1	-110	-93.8
Sales and maturities of investments	99.9	37.2	68.8	32.9	44.7	27.3	25.7	83.6	221	137
Cash from investing	110	67.8	49.4	171	17.8	35.4	-537	289	264	140
Stock issued	0.92	0.38	0.38	0.14	0	0.54	0.17	0.09	1.41	0.25
Share buybacks	-23.8	-1.26	-34.4	-16.4	-21.9	-28.9	-21.3	-23	-8.72	-1.85
Dividends paid	-10.4	-11.6	-21.1	-15.1	-17.9	-18.1	-18.5	-21.1	-22	-60.6
Cash from financing	-129	-22.5	-180	-87.9	176	137	-28.8	-405	-60.6	-67.8
Net change in cash	24.5	81.6	-81.1	140	240	221	-507	-54.4	261	135
Free cash flow	42.3	34	46.9	48.2	42.6	45.2	57.9	59.1	54.9	60
Interest paid	9.85	8.27	7.94	5.66	5.5	3.14	2.11	9.08	19.4	16.5
Income taxes paid	6.59	15.9	7.61	8.06	9.07	14.4	7.59	11.8	13.4	9.85

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $47.62 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	22.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.6%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	-5.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	1.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	6.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-5.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-2.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	5.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	8.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	2.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	9.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	1.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	7.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	259.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	56.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	33.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-4.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	3.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.0%	Total debt / total assets.
Liabilities / assets	85.1%	Total liabilities / total assets.
Goodwill and intangibles / assets	4.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$375.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	73.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	7.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.13	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$2.28	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.46	Cash from operations / diluted weighted shares.
Book value per share	$28.52	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$19.86	Tangible book value / shares outstanding.
Payout ratio	70.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	95.9%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	47.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$900.5M	Share price x shares outstanding.
Enterprise value	$900.5M	Market cap + total debt - cash - short-term investments.
P/E	15.2x	Market cap / net income. Only when net income is positive.
P/B	1.67x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.40x	Market cap / tangible book value, when positive.
P/FCF	20.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	19.3x	Market cap / cash from operations, when positive.
EV/FCF	20.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.8%	Free cash flow / market cap.
Earnings yield	6.6%	Net income / market cap (the inverse of P/E).
Dividend yield	4.6%	Dividends paid over the period / market cap.
Shareholder yield	6.9%	(Dividends paid + share buybacks) / market cap.

Was FIRST COMMUNITY BANKSHARES INC /VA/ profitable in fiscal 2025?

Yes. Net income was $48.8M, a net margin of -.

How much free cash flow did FIRST COMMUNITY BANKSHARES INC /VA/ generate in fiscal 2025?

Cash from operations of $62.7M minus capital expenditures of $2.7M left free cash flow of $60.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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