Stocks FXNC Financial statements
Financial statementsFIRST NATIONAL CORP /VA/ financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FIRST NATIONAL CORP /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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 7.19 | 7.72 | 7.81 | 7.49 | 9.02 | 10.1 | 10.2 | 14.2 | 14.3 | |
| Interest expense | 1.98 | 2.39 | 3.51 | 4.89 | 3.38 | 2.3 | 3.82 | 14.3 | ||
| Pre-tax income | 8.26 | 10.2 | 12.4 | 11.8 | 10.9 | 12.9 | 20.7 | 11.8 | 8.05 | 21.9 |
| Income tax | 2.35 | 3.73 | 2.29 | 2.24 | 2.05 | 2.59 | 3.95 | 2.18 | 1.08 | 4.24 |
| Net income | 5.91 | 6.45 | 10.1 | 9.56 | 8.86 | 10.4 | 16.8 | 9.62 | 6.97 | 17.7 |
| EPS, basic | 1.20 | 1.30 | 2.05 | 1.92 | 1.82 | 1.87 | 2.69 | 1.54 | 1.00 | 1.97 |
| EPS, diluted | 1.20 | 1.30 | 2.04 | 1.92 | 1.82 | 1.86 | 2.68 | 1.53 | 1.00 | 1.96 |
| Shares, basic (weighted) | 4.92 | 4.94 | 4.95 | 4.96 | 4.88 | 5.55 | 6.25 | 6.27 | 6.96 | 8.99 |
| Shares, diluted (weighted) | 4.93 | 4.94 | 4.96 | 4.97 | 4.88 | 5.56 | 6.26 | 6.28 | 6.97 | 9.02 |
| Dividend per share | 0.12 | 0.36 | 0.44 | 0.48 | 0.56 | 0.60 | 0.61 | 0.64 |
Balance sheet
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 41.1 | 40 | 28.6 | 45.8 | 87.2 | 163 | 161 | |||
| Property, plant and equipment | 20.8 | 19.9 | 20.1 | 19.7 | 19.3 | 22.4 | 21.9 | 22.1 | 34.8 | 34.6 |
| Lease right-of-use assets | 0.33 | 2 | 1.79 | |||||||
| Goodwill | 0 | 3.03 | 3.03 | 3.03 | 3.03 | 3.03 | ||||
| Intangible assets | 0.47 | 0.17 | 0.02 | 0.15 | 0.14 | 0.12 | 15 | 13.2 | ||
| Total assets | 716 | 739 | 753 | 800 | 951 | 1,389 | 1,369 | 1,419 | 2,010 | 2,038 |
| Total liabilities | 664 | 681 | 686 | 723 | 866 | 1,272 | 1,261 | 1,303 | 1,844 | 1,852 |
| Paid-in capital | 7.09 | 7.26 | 7.47 | 7.7 | 6.15 | 32 | 32.7 | 33 | 77.1 | 78.2 |
| Retained earnings | 39.8 | 45.7 | 54.8 | 62.6 | 69.3 | 77 | 90.3 | 94.2 | 96.9 | 109 |
| Other comprehensive income | -0.86 | -0.96 | -1.81 | 0.72 | 3.4 | 0.3 | -22.5 | -18.7 | -18.7 | -12.2 |
| Shareholders' equity | 52.2 | 58.2 | 66.7 | 77.2 | 84.9 | 117 | 108 | 116 | 167 | 186 |
| Total equity | 52.2 | 58.2 | 66.7 | 77.2 | 84.9 | 117 | 108 | 116 | 167 | 186 |
| Total liabilities and equity | 716 | 739 | 753 | 800 | 951 | 1,389 | 1,369 | 1,419 | 2,010 | 2,038 |
| Shares outstanding | 4.93 | 4.95 | 4.96 | 4.97 | 4.86 | 6.23 | 6.26 | 6.26 | 8.97 | 9.03 |
Cash flow statement
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | 5.91 | 6.45 | 10.1 | 9.56 | 8.86 | 10.4 | 16.8 | 9.62 | 6.97 | 17.7 |
| Depreciation and amortization | 1.36 | 1.39 | 1.35 | 1.34 | 1.32 | 1.38 | 1.5 | 1.6 | 1.94 | 2.76 |
| Stock-based compensation | 0.11 | 0.14 | 0.19 | 0.18 | 0.29 | 0.35 | 0.79 | 0.75 | 0.64 | 1.18 |
| Deferred income tax | 0.43 | 1.28 | 0.14 | -0.01 | -0.92 | -1.68 | -0.24 | -0.4 | -0.44 | 0.39 |
| Cash from operations | 9.01 | 6.57 | 13.8 | 11.9 | 15.1 | 7.87 | 26.8 | 16.4 | -22.2 | 25.1 |
| Capital expenditures | -1.03 | -1.07 | -1.54 | -1.03 | -0.91 | -0.84 | -1.18 | -1.87 | -3.3 | -4.18 |
| Acquisitions | -90.5 | -90.5 | ||||||||
| Purchases of investments | -50.9 | -197 | -21.1 | 0 | -26 | -77.3 | ||||
| Cash from investing | -25.3 | -26.5 | -29.8 | -28.9 | -70.5 | -126 | -120 | -34.3 | 137 | -29.4 |
| Share buybacks | 0 | -0.03 | 0 | 0 | ||||||
| Dividends paid | -0.55 | -0.65 | -0.93 | -1.67 | -2.01 | -2.51 | -3.31 | -3.6 | -4.04 | -5.52 |
| Cash from financing | 18.1 | 18.9 | 4.71 | 34.2 | 137 | 167 | -15.7 | 38.2 | -38.9 | 2.34 |
| Net change in cash | 1.76 | -1.11 | -11.4 | 17.2 | 81.5 | 48.7 | -109 | 20.2 | 75.7 | -1.96 |
| Free cash flow | 7.98 | 5.5 | 12.2 | 10.8 | 14.2 | 7.03 | 25.6 | 14.5 | -25.5 | 20.9 |
| Interest paid | 2.17 | 2.49 | 3.55 | 4.9 | 3.46 | 2.46 | 4 | 9.36 | 23.2 | 27.4 |
| Income taxes paid | 1.97 | 3.38 | 1.34 | 2.18 | 3.09 | 2.03 | 3.37 | 3.43 | 2.08 | 3.4 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Pre-tax margin | 188.4% | Pre-tax income / revenue. |
| Net margin | 151.8% | Net income / revenue. |
| FCF margin | 183.3% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 211.5% | Cash from operations / revenue. |
| Effective tax rate | 19.4% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 11.2% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 1.0% | Net income / average total assets. |
| Stock-based pay / revenue | 7.8% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 28.2% | Capital expenditures / revenue. |
| D&A / revenue | 20.1% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 0.8% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | 12.4% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 13.8% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | 154.1% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | 1.8% | 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 | 14.9% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | 96.0% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -9.9% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 1.5% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| 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 | 10.7% | 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 CAGR, 3y | -6.5% | 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 | 8.1% | 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 | 5.0% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | 4.3% | 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 | 7.6% | 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 | 11.8% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 19.8% | 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 | 17.0% | 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 | 1.4% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 14.2% | 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 | 16.5% | 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 | 29.3% | 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 | 12.9% | 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 | 13.1% | 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 |
|---|---|---|
| Liabilities / assets | 90.7% | Total liabilities / total assets. |
| Goodwill and intangibles / assets | 0.7% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $178.2M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.01x | Revenue / average total assets. |
| Fixed asset turnover | 0.42x | Revenue / average property, plant and equipment. |
| FCF conversion | 120.8% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 13.3% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $2.39 | 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. |
| Revenue per share | $1.58 | Revenue / diluted weighted shares. |
| FCF per share | $2.89 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $3.33 | Cash from operations / diluted weighted shares. |
| Book value per share | $21.41 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $19.71 | Tangible book value / shares outstanding. |
| Cash per share | $18.37 | (Cash + short-term investments) / shares outstanding. |
| Payout ratio | 26.8% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 22.2% | Dividends paid / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $265.7M | Share price x shares outstanding. |
| Enterprise value | $99.5M | Market cap + total debt - cash - short-term investments. |
| P/E | 12.3x | Market cap / net income. Only when net income is positive. |
| P/S | 18.6x | Market cap / revenue. |
| P/B | 1.37x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.49x | Market cap / tangible book value, when positive. |
| P/FCF | 10.1x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 8.79x | Market cap / cash from operations, when positive. |
| EV/Sales | 6.97x | Enterprise value / revenue. |
| EV/FCF | 3.80x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 9.9% | Free cash flow / market cap. |
| Earnings yield | 8.2% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 2.2% | Dividends paid over the period / market cap. |
| Shareholder yield | 2.2% | (Dividends paid + share buybacks) / market cap. |
What was FIRST NATIONAL CORP /VA/'s revenue in fiscal 2025?
FIRST NATIONAL CORP /VA/ reported revenue of $14.3M for fiscal 2025, 0.8% higher than the year before.
Was FIRST NATIONAL CORP /VA/ profitable in fiscal 2025?
Yes. Net income was $17.7M, a net margin of 123.9%.
How much free cash flow did FIRST NATIONAL CORP /VA/ generate in fiscal 2025?
Cash from operations of $25.1M minus capital expenditures of $4.2M left free cash flow of $20.9M.