# National Bankshares, Inc. (NKSH)

> Source: Nexqual · https://nexqual.com/NKSH · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, National Bankshares, Inc. (NKSH), nexqual.com/NKSH" · informational, not investment advice.

**Price:** USD 40.48 (-11.03% on the day) · last close of Oct 23, 2026; US market after hours, not a live price. Prev close 45.5 · day 40.04–45.99 · 52w 27–45.99 · market cap $258M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $60.5M, net income $20.3M (33.6% margin) (SEC filings).
- Valuation: P/E 12.7x (avg 16.3x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (1 analysts), mean target USD 46.75 (range 46.75–46.75).
- Total return with dividends: 1Y +45.6% vs S&P 500 +13.4%; 5Y +41.6% vs S&P 500 +76.9%.
- Next earnings: 2027-01-21, EPS estimate USD 0.98, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $50.3M | $59.4M | $46.6M | $45.4M | $55.6M | $60.5M |
| Net income | $20.4M | $25.9M | $15.7M | $7.6M | $15.8M | $20.3M |
| EPS (diluted) | $3.28 | $4.33 | $2.66 | $1.24 | $2.49 | — |
| Free cash flow | $22.6M | $28.2M | $14.0M | $6.2M | $15.2M | $18.4M |
| Net margin | 40.5% | 43.6% | 33.6% | 16.8% | 28.5% | 33.6% |
| Revenue growth | +9.1% | +18.1% | -21.5% | -2.8% | +22.5% | — |
| Cash + short-term investments | — | — | $86.6M | $108M | $59.3M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 12.7x · P/S 4.3x · P/FCF 14.0x · P/B 1.3x · FCF yield 7.14% · Earnings yield 7.88%
P/E at fiscal year-ends: Dec 2025 13.5x, Dec 2024 23.2x, Dec 2023 12.1x.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 1 analysts; mean target USD 46.75 (low 46.75, high 46.75).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +45.6% | +41.6% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +45.8% | +7.2% |
| Volatility (annualized) | 28.6% | 29.9% |
| Max drawdown | -11.6% (Feb 2026→May 2026) | -45.3% (Feb 2023→Oct 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 4.07 +3.04% · FITB (Fifth Third Bancorp) USD 52.98 -0.47% · DB (Deutsche Bank AG) USD 31.2 -0.89% · TFC (Truist Financial Corporation) USD 48.44 +0.04% · NWG (NatWest Group plc) USD 16.8 -1.12% · NU (Nu Holdings Ltd.) USD 15.16 +2.92%

## More
Full page: https://nexqual.com/NKSH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Deposit Account | $690,000 | 31.7% | -6.0% |
| Fiduciary & Trust | $667,000 | 30.6% | +15.4% |
| Credit & Debit Card | $544,000 | 25.0% | +48.6% |
| Insurance & Investment | $208,000 | 9.6% | +22.4% |
| Product & Service Other | $69,000 | 3.2% | -5.5% |
| Total revenue | $2.2M | 100% | — |

## Company outlook (8-K filed 2026-10-22)

- "Higher yields on assets and reduced deposit costs have supported income growth throughout 2026, and we expect continued loan repricing to sustain the trend." Ms."
- "The Company expects that incremental earnings improvement from the repositioning will recover the $6.55 million pre-tax loss on the sale over a period of 1.8 years from the date of the transaction, and provide earnings accretion after the recovery period."
- "The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. 4 National Bankshares, Inc."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.98 | $0.83 | +18.1% | $0 | 1 |
| Next quarter (ends 2027-03-31) | $0.96 | $0.82 | +17.1% | $0 | 1 |
| Current fiscal year (ends 2026-12-31) | $3.50 | $3.22 | +8.7% | $0 | 1 |
| Next fiscal year (ends 2027-12-31) | $3.86 | $3.35 | +15.2% | $0 | 1 |