National Bankshares, Inc. (NKSH) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Banks - Regional
EV/EBITDA
↑
11.78
↑+87% vs avg
5yr avg: 6.29
30Y Low2.9·High11.9
P/FCF
↑
15.32
+3% vs avg
5yr avg: 14.94
30Y Low7.8·High29.5
P/B Ratio
↓
1.25
-7% vs avg
5yr avg: 1.35
30Y Low1.0·High2.2
ROE
↓
9.3%
-13% vs avg
5yr avg: 10.6%
30Y Low5%·High17%
Debt/EBITDA
0.11
+0% vs avg
5yr avg: 0.11
30Y Low0.0·High0.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NKSH Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
National Bankshares, Inc. trades at 14.6x earnings, 6% above its 5-year average of 13.8x, sitting at the 69th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.3x, the stock trades at a premium of 10%. On a free-cash-flow basis, the stock trades at 15.3x P/FCF, roughly in line with the 5-year average of 14.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $232M | $213M | $177M | $191M | $241M | $223M | $203M | $296M | $253M | $316M | $302M |
| Enterprise Value | $226M | $207M | $69M | $104M | $170M | $84M | $69M | $209M | $197M | $252M | $208M |
| P/E Ratio → | 14.64 | 13.47 | 23.15 | 12.16 | 9.31 | 10.93 | 12.63 | 16.95 | 15.70 | 22.39 | 20.21 |
| P/S Ratio | 2.72 | 2.50 | 2.24 | 2.79 | 3.86 | 4.17 | 3.91 | 5.48 | 4.97 | 6.47 | 6.29 |
| P/B Ratio | 1.25 | 1.15 | 1.13 | 1.36 | 1.97 | 1.16 | 1.01 | 1.61 | 1.33 | 1.71 | 1.70 |
| P/FCF | 15.32 | 14.08 | 28.62 | 13.58 | 8.55 | 9.87 | 16.96 | 16.61 | 13.64 | 29.46 | 17.89 |
| P/OCF | 12.98 | 11.92 | 18.75 | 12.27 | 8.18 | 9.73 | 14.72 | 15.70 | 12.82 | 28.76 | 17.24 |
P/E links to full P/E history page with 30-year chart
NKSH EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
National Bankshares, Inc.'s enterprise value stands at 11.8x EBITDA, 87% above its 5-year average of 6.3x. This is roughly in line with the Financial Services sector median of 11.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.43 | 0.87 | 1.52 | 2.72 | 1.57 | 1.33 | 3.87 | 3.87 | 5.16 | 4.33 |
| EV / EBITDA | 11.78 | 10.80 | 6.74 | 5.35 | 5.25 | 3.32 | 3.48 | 9.74 | 10.09 | 11.86 | 10.43 |
| EV / EBIT | 11.78 | 10.80 | 7.58 | 5.57 | 5.35 | 3.40 | 3.61 | 10.08 | 10.53 | 12.37 | 11.01 |
| EV / FCF | — | 13.66 | 11.18 | 7.41 | 6.02 | 3.71 | 5.77 | 11.71 | 10.61 | 23.49 | 12.31 |
NKSH Profitability
Margins and return-on-capital ratios measuring operating efficiency
National Bankshares, Inc. earns an operating margin of 22.5%, roughly in line with the Financial Services sector average. Operating margins have compressed from 27.4% to 22.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 9.3% is modest, trailing the sector median of 9.5%. ROIC of 8.4% represents adequate returns on invested capital versus a sector median of 5.7%.
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 | 65.1% | 65.1% | 55.8% | 70.2% | 93.9% | 94.9% | 84.9% | 86.1% | 90.3% | 91.2% | 87.9% |
| Operating Margin | 22.5% | 22.5% | 11.5% | 27.4% | 50.8% | 46.1% | 36.9% | 38.3% | 36.7% | 41.7% | 39.3% |
| Net Profit Margin | 18.6% | 18.6% | 9.6% | 23.0% | 41.5% | 38.2% | 30.9% | 32.4% | 31.7% | 28.8% | 31.1% |
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 | 9.3% | 9.3% | 5.1% | 11.9% | 16.5% | 10.4% | 8.4% | 9.3% | 8.6% | 7.8% | 8.5% |
| ROA | 0.9% | 0.9% | 0.4% | 0.9% | 1.5% | 1.3% | 1.1% | 1.4% | 1.3% | 1.1% | 1.2% |
| ROIC | 8.4% | 8.4% | 4.6% | 10.6% | 15.2% | 9.4% | 7.5% | 8.3% | 7.5% | 8.4% | 8.1% |
| ROCE | 1.9% | 1.9% | 5.8% | 13.1% | 18.6% | 11.5% | 9.0% | 10.2% | 9.3% | 10.5% | 10.1% |
NKSH Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
National Bankshares, Inc. carries a Debt/EBITDA ratio of 0.1x, which is very conservative (97% below the sector average of 4.1x). The company holds a net cash position — cash of $8M exceeds total debt of $2M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of just 0.6x 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 | 0.01 | 0.01 | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 0.11 | 0.11 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.03 | -0.69 | -0.62 | -0.58 | -0.72 | -0.67 | -0.47 | -0.30 | -0.35 | -0.53 |
| Net Debt / EBITDA | -0.33 | -0.33 | -10.51 | -4.46 | -2.21 | -5.49 | -6.74 | -4.07 | -2.89 | -3.02 | -4.72 |
| Debt / FCF | — | -0.42 | -17.44 | -6.17 | -2.53 | -6.15 | -11.18 | -4.90 | -3.03 | -5.98 | -5.58 |
| Interest Coverage | 0.64 | 0.64 | 0.27 | 0.87 | 10.30 | 7.95 | 3.28 | 2.80 | 3.71 | 4.94 | 4.54 |
Net cash position: cash ($8M) exceeds total debt ($2M)
NKSH Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
National Bankshares, Inc.'s current ratio of 1203.84x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.47x to 1203.84x 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 | 1203.84 | 1203.84 | 0.09 | 0.47 | 0.48 | 0.56 | 0.53 | 0.47 | 0.46 | 0.38 | 0.39 |
| Quick Ratio | 1203.84 | 1203.84 | 0.09 | 0.47 | 0.48 | 0.56 | 0.53 | 0.47 | 0.46 | 0.38 | 0.39 |
| Cash Ratio | 15.14 | 15.14 | 0.07 | 0.06 | 0.05 | 0.09 | 0.10 | 0.08 | 0.05 | 0.06 | 0.09 |
| Asset Turnover | — | 0.05 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
NKSH Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
National Bankshares, Inc. returns 4.1% to shareholders annually primarily through dividends. A payout ratio of 60.7% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 6.8% (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 | 4.1% | 4.5% | 5.2% | 7.8% | 3.7% | 4.0% | 4.4% | 3.1% | 3.3% | 2.6% | 2.7% |
| Payout Ratio | 60.7% | 60.7% | 121.5% | 94.2% | 34.5% | 43.2% | 56.0% | 51.7% | 52.1% | 57.8% | 54.0% |
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 | 6.8% | 7.4% | 4.3% | 8.2% | 10.7% | 9.2% | 7.9% | 5.9% | 6.4% | 4.5% | 4.9% |
| FCF Yield | 6.5% | 7.1% | 3.5% | 7.4% | 11.7% | 10.1% | 5.9% | 6.0% | 7.3% | 3.4% | 5.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 2.6% | 6.0% | 0.8% | 6.3% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.1% | 4.5% | 5.2% | 7.8% | 6.3% | 10.0% | 5.3% | 9.3% | 3.3% | 2.6% | 2.7% |
| Shares Outstanding | — | $6M | $6M | $6M | $6M | $6M | $6M | $7M | $7M | $7M | $7M |
Peer Comparison
Compare NKSH 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 |
|---|---|---|---|---|---|---|---|---|---|
 NKSHYou | $232M | 14.6 | 11.8 | 15.3 | 65.1% | 22.5% | 9.3% | 8.4% | 0.1 |
 CARE | $579M | 18.7 | 16.3 | 18.2 | 61.7% | 15.7% | 7.8% | 5.7% | 4.5 |
 MNSB | $175M | 13.3 | 11.5 | 16.5 | 54.4% | 14.0% | 7.3% | 5.0% | 3.7 |
 NBTB | $2B | 13.4 | 10.3 | 10.7 | 72.1% | 25.3% | 9.9% | 7.9% | 1.4 |
 CZWI | $204M | 14.5 | 15.3 | 19.6 | 54.7% | 7.0% | 7.9% | 2.0% | 5.8 |
 FFIN | $5B | 20.7 | 14.1 | 15.7 | 70.8% | 36.8% | 14.4% | 11.0% | 0.7 |
 FXNC | $246M | 13.9 | 5.8 | 11.7 | 74.0% | 19.6% | 10.0% | 7.7% | 1.9 |
 UVSP | $1B | 12.3 | 7.5 | 11.4 | 61.0% | 21.9% | 9.9% | 6.5% | 2.9 |
 FUNC | $243M | 11.9 | 11.4 | 11.9 | 68.8% | 24.4% | 12.1% | 5.9% | 6.1 |
 FIS | $24B | 62.1 | 7.6 | 9.8 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 JKHY | $11B | 23.9 | 13.8 | 18.4 | 42.7% | 23.9% | 21.4% | 21.0% | — |
| Financial Services Median | — | 13.3 | 11.4 | 10.6 | 62.9% | 21.4% | 9.5% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonNKSH — Frequently Asked Questions
Quick answers to the most common questions about buying NKSH stock.
What is National Bankshares, Inc.'s P/E ratio?
National Bankshares, Inc.'s current P/E ratio is 14.6x. The historical average is 14.1x. This places it at the 69th percentile of its historical range.
What is National Bankshares, Inc.'s EV/EBITDA?
National Bankshares, Inc.'s current EV/EBITDA is 11.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.4x.
What is National Bankshares, Inc.'s ROE?
National Bankshares, Inc.'s return on equity (ROE) is 9.3%. The historical average is 11.8%.
Is NKSH stock overvalued?
Based on historical data, National Bankshares, Inc. is trading at a P/E of 14.6x. This is at the 69th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is National Bankshares, Inc.'s dividend yield?
National Bankshares, Inc.'s current dividend yield is 4.14% with a payout ratio of 60.7%.
What are National Bankshares, Inc.'s profit margins?
National Bankshares, Inc. has 65.1% gross margin and 22.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does National Bankshares, Inc. have?
National Bankshares, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.