First National Corporation (FXNC) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
6.70
↑+44% vs avg
5yr avg: 4.64
30Y Low1.0·High15.8
P/FCF
↓
12.63
+19% vs avg
5yr avg: 10.65
30Y Low1.8·High50.0
P/B Ratio
↑
1.42
↑+31% vs avg
5yr avg: 1.09
30Y Low0.5·High2.7
ROE
↓
10.0%
↓+3% vs avg
5yr avg: 9.7%
30Y Low-26%·High20%
Debt/EBITDA
↑
1.94
↓-17% vs avg
5yr avg: 2.33
30Y Low0.6·High10.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FXNC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
First National Corporation trades at 15.0x earnings, 9% above its 5-year average of 13.8x, sitting at the 84th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 10%. On a free-cash-flow basis, the stock trades at 12.6x P/FCF, 19% above the 5-year average of 10.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $265M | $228M | $160M | $137M | $107M | $128M | $82M | $106M | $96M | $89M | $63M |
| Enterprise Value | $147M | $109M | $28M | $114M | $55M | $-28875137 | $-25550505 | $75M | $82M | $63M | $36M |
| P/E Ratio → | 14.98 | 12.88 | 23.01 | 14.22 | 6.39 | 12.37 | 9.29 | 11.15 | 9.51 | 13.85 | 10.71 |
| P/S Ratio | 2.37 | 2.03 | 1.82 | 2.01 | 1.77 | 2.77 | 2.06 | 2.62 | 2.44 | 2.53 | 1.93 |
| P/B Ratio | 1.42 | 1.22 | 0.96 | 1.17 | 0.99 | 1.09 | 0.97 | 1.38 | 1.44 | 1.53 | 1.21 |
| P/FCF | 12.63 | 10.83 | — | 9.40 | 4.19 | 18.18 | 5.82 | 9.82 | 7.87 | 16.19 | 7.94 |
| P/OCF | 10.54 | 9.03 | — | 8.33 | 4.01 | 16.25 | 5.47 | 8.97 | 6.99 | 13.55 | 7.03 |
P/E links to full P/E history page with 30-year chart
FXNC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
First National Corporation's enterprise value stands at 6.7x EBITDA, 44% above its 5-year average of 4.6x. The Financial Services sector median is 11.4x, placing the stock at a 41% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.97 | 0.32 | 1.67 | 0.90 | -0.63 | -0.64 | 1.84 | 2.07 | 1.80 | 1.11 |
| EV / EBITDA | 6.70 | 4.98 | 2.68 | 8.47 | 2.45 | -2.01 | -2.06 | 5.57 | 5.75 | 5.19 | 3.51 |
| EV / EBIT | 6.70 | 4.98 | 3.48 | 9.63 | 2.63 | -2.23 | -2.34 | 6.34 | 6.59 | 6.22 | 4.41 |
| EV / FCF | — | 5.20 | — | 7.83 | 2.13 | -4.11 | -1.80 | 6.91 | 6.69 | 11.50 | 4.57 |
FXNC Profitability
Margins and return-on-capital ratios measuring operating efficiency
First National Corporation earns an operating margin of 19.6%, roughly in line with the Financial Services sector average. Operating margins have expanded from 17.4% to 19.6% over the past 3 years, signaling improving operational efficiency. ROE of 10.0% is modest. ROIC of 7.7% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.0% | 74.0% | 64.1% | 69.9% | 90.7% | 96.4% | 84.1% | 86.8% | 89.6% | 92.9% | 94.0% |
| Operating Margin | 19.6% | 19.6% | 9.1% | 17.4% | 34.2% | 28.0% | 27.2% | 29.1% | 31.5% | 29.0% | 25.1% |
| Net Profit Margin | 15.8% | 15.8% | 7.9% | 14.2% | 27.7% | 22.4% | 22.1% | 23.6% | 25.7% | 18.4% | 18.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.0% | 10.0% | 4.9% | 8.6% | 14.9% | 10.3% | 10.9% | 13.3% | 16.2% | 11.7% | 12.0% |
| ROA | 0.9% | 0.9% | 0.4% | 0.7% | 1.2% | 0.9% | 1.0% | 1.2% | 1.4% | 0.9% | 0.8% |
| ROIC | 7.7% | 7.7% | 3.2% | 5.8% | 12.0% | 8.1% | 8.4% | 10.3% | 12.2% | 11.0% | 9.8% |
| ROCE | 9.9% | 9.9% | 4.7% | 9.1% | 16.0% | 10.8% | 11.1% | 13.7% | 16.2% | 14.6% | 13.0% |
FXNC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
First National Corporation carries a Debt/EBITDA ratio of 1.9x, which is manageable (54% below the sector average of 4.3x). The company holds a net cash position — cash of $161M exceeds total debt of $43M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 0.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.23 | 0.23 | 0.18 | 0.55 | 0.13 | 0.16 | 0.23 | 0.18 | 0.21 | 0.24 | 0.27 |
| Debt / EBITDA | 1.94 | 1.94 | 2.91 | 4.79 | 0.64 | 1.34 | 1.56 | 1.06 | 1.00 | 1.17 | 1.37 |
| Net Debt / Equity | — | -0.64 | -0.80 | -0.20 | -0.49 | -1.34 | -1.27 | -0.41 | -0.22 | -0.44 | -0.52 |
| Net Debt / EBITDA | -5.39 | -5.39 | -12.67 | -1.71 | -2.36 | -10.92 | -8.73 | -2.35 | -1.01 | -2.11 | -2.59 |
| Debt / FCF | — | -5.63 | — | -1.58 | -2.06 | -22.29 | -7.62 | -2.91 | -1.18 | -4.68 | -3.37 |
| Interest Coverage | 0.84 | 0.84 | 0.34 | 0.83 | 5.43 | 5.62 | 3.22 | 2.41 | 3.54 | 4.26 | 4.17 |
Net cash position: cash ($161M) exceeds total debt ($43M)
FXNC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.10x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.19x to 0.10x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.10 | 0.10 | 0.09 | 0.19 | 0.19 | 0.37 | 0.32 | 0.24 | 0.19 | 0.20 | 0.21 |
| Quick Ratio | 0.10 | 0.10 | 0.09 | 0.19 | 0.19 | 0.37 | 0.32 | 0.24 | 0.19 | 0.20 | 0.21 |
| Cash Ratio | 0.09 | 0.09 | 0.09 | 0.07 | 0.05 | 0.14 | 0.15 | 0.06 | 0.04 | 0.06 | 0.06 |
| Asset Turnover | — | 0.06 | 0.04 | 0.05 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
FXNC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
First National Corporation returns 2.1% to shareholders annually — split between a 2.1% dividend yield and 0.1% buyback yield. The payout ratio of 31.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 6.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.1% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 31.2% | 31.2% | 58.0% | 37.4% | 19.7% | 24.2% | 22.7% | 17.5% | 9.2% | 10.0% | 9.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 7.8% | 4.3% | 7.0% | 15.6% | 8.1% | 10.8% | 9.0% | 10.5% | 7.2% | 9.3% |
| FCF Yield | 7.9% | 9.2% | — | 10.6% | 23.9% | 5.5% | 17.2% | 10.2% | 12.7% | 6.2% | 12.6% |
| Buyback Yield | 0.1% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 2.1% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $9M | $7M | $6M | $6M | $6M | $5M | $5M | $5M | $5M | $5M |
Peer Comparison
Compare FXNC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FXNCYou | $265M | 15.0 | 6.7 | 12.6 | 74.0% | 19.6% | 10.0% | 7.7% | 1.9 |
 NKSH | $225M | 14.2 | 11.4 | 14.8 | 65.1% | 22.5% | 9.3% | 8.4% | 0.1 |
 CZWI | $205M | 14.6 | 15.6 | 19.8 | 54.7% | 7.0% | 7.9% | 2.0% | 5.8 |
 MNSB | $176M | 13.6 | 11.5 | 16.5 | 54.4% | 14.0% | 7.3% | 5.0% | 3.7 |
 FBIZ | $503M | 10.0 | 12.1 | 8.2 | 57.3% | 21.6% | 14.4% | 7.0% | 4.3 |
 FUNC | $277M | 11.3 | 8.0 | 18.0 | 70.2% | 27.3% | 12.8% | 7.1% | 3.5 |
 CFFI | $255M | 9.5 | 10.8 | 11.5 | 69.5% | 17.8% | 11.0% | 6.8% | 3.5 |
 CARE | $686M | 22.1 | 19.0 | 21.6 | 61.7% | 15.7% | 7.8% | 5.7% | 4.5 |
 BSVN | $438M | 10.1 | 3.3 | 10.6 | 70.2% | 41.4% | 18.6% | 18.3% | — |
 FIS | $20B | 50.9 | 6.4 | 7.0 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 FISI | $735M | 10.3 | 10.5 | 54.1 | 61.7% | 24.2% | 12.5% | 7.7% | 3.7 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
FXNC — Frequently Asked Questions
Quick answers to the most common questions about buying FXNC stock.
What is First National Corporation's P/E ratio?
First National Corporation's current P/E ratio is 15.0x. The historical average is 13.1x. This places it at the 84th percentile of its historical range.
What is First National Corporation's EV/EBITDA?
First National Corporation's current EV/EBITDA is 6.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.9x.
What is First National Corporation's ROE?
First National Corporation's return on equity (ROE) is 10.0%. The historical average is 10.2%.
Is FXNC stock overvalued?
Based on historical data, First National Corporation is trading at a P/E of 15.0x. This is at the 84th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is First National Corporation's dividend yield?
First National Corporation's current dividend yield is 2.09% with a payout ratio of 31.2%.
What are First National Corporation's profit margins?
First National Corporation has 74.0% gross margin and 19.6% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does First National Corporation have?
First National Corporation's Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.