First National Corporation Financial Ratios — FXNC Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	-44.86	8.48	30.89	17.75	3.84	13.66	13.19	17.96	14.72	12.29	12.94	18.37	9.62	6.63	15.5
Return on Assets (%)	-2.02	0.52	1.87	1.47	0.44	0.84	0.89	1.36	1.23	1.01	0.89	1.22	0.69	0.41	0.87
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	4.67	4.3	4.14	3.87	6.67	6.89	6.13	5.02	4.59	4	3.2	2.66	3.02	3.73	5.15
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-28.13	14.6	20.67	43.81	12.86	26.75	31.06	34.53	33.07	29.71	29.51	36.49	22.04	12.5	25
Profit Margin (%)	-43.26	10.86	40.39	30.04	9.45	19.13	19.69	28.17	26.79	24.13	23.61	29.54	17.96	10.82	20.17
Net Income to Common Margin (%)	-46.79	7.35	36.65	25.56	5.49	19.13	19.69	28.17	26.79	24.13	23.61	29.54	17.96	10.82	20.17
Effective Tax Rate (%)	- -	25.63	- -	31.44	26.47	28.49	36.62	18.41	18.98	18.79	19.98	19.05	18.48	13.44	19.33
Dvd Payout Ratio (%)	-3.41	-7.7	-1.73	3.68	40.34	9.31	10.02	9.17	17.52	22.66	24.18	19.69	37.36	57.97	31.18
Sustainable Growth Rate (%)	-46.39	9.13	31.43	17.09	2.29	12.39	11.87	16.31	12.14	9.5	9.81	14.75	6.02	2.79	10.67

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	28	15	15	9	14	14	14	14	14	19	19	14	64	30	43
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	50	- -	- -
LT Debt	28	15	15	9	14	14	14	14	14	19	19	14	14	30	43
Total Debt/EBITDA	23.97	13.83	15.16	9.47	7.58	6.68	7.09	7.89	8.71	13.14	13.72	9.43	39.77	12.69	9.42
Net Debt/EBITDA	-0.97	-14.12	-16	-15.81	-13.42	-12.64	-12.83	-7.96	-19.26	-73.64	-111.55	-34.79	-14.16	-55.17	-26.17
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.75	4.6	6.4	7.66	5.86	6.41	7.02	8.1	8.6	7.93	6.1	7.16	7.19	5.38	5.9
Long-Term Debt/Equity (%)	76.5	34.21	28.62	15.62	30.88	27.25	24.46	21.36	18.47	22.69	16.47	13.17	12.28	18.29	22.87
Long-Term Debt/Capital (%)	45.16	28.28	24.19	14.63	25.91	23.63	21.53	18.93	17.17	20.36	18.52	12.7	8.58	21.97	26.16
Long-Term Debt/Total Assets (%)	5.26	2.88	2.93	1.8	2.05	1.98	1.92	1.89	1.78	2.03	1.39	1.04	1.01	1.51	2.09
Total Debt/Equity (%)	76.5	34.21	28.62	15.62	30.88	27.25	24.46	21.36	18.47	22.69	16.47	13.17	55.28	18.29	22.87
Total Debt/Capital (%)	45.16	28.28	24.19	14.63	25.91	23.63	21.53	18.93	17.17	20.36	18.52	12.7	38.65	21.97	26.16
Total Debt/Total Assets (%)	5.26	2.88	2.93	1.8	2.05	1.98	1.92	1.89	1.78	2.03	1.39	1.04	4.53	1.51	2.09
Net Debt to Equity	-3.09	-34.92	-30.2	-26.09	-54.71	-51.55	-44.29	-21.56	-40.82	-127.22	-133.92	-48.58	-19.68	-79.52	-63.55
Net Debt/Capital (%)	-3.44	-67.38	-50.75	-40.11	-162.81	-141.23	-98.72	-30.82	-84.58	330.76	217.81	-115.76	-28.92	545.97	-6,227.32
EBITDA	1	1	1	1	2	2	2	2	2	1	1	2	2	2	5
EBITDA-CapEx	1	1	- -	1	- -	1	1	- -	1	1	1	- -	- -	-1	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.75	4.6	6.4	7.66	5.86	6.41	7.02	8.1	8.6	7.93	6.1	7.16	7.19	5.38	5.9
Long-Term Debt/Equity (%)	76.5	34.21	28.62	15.62	30.88	27.25	24.46	21.36	18.47	22.69	16.47	13.17	12.28	18.29	22.87
Long-Term Debt/Capital (%)	45.16	28.28	24.19	14.63	25.91	23.63	21.53	18.93	17.17	20.36	18.52	12.7	8.58	21.97	26.16
Long-Term Debt/Total Assets (%)	5.26	2.88	2.93	1.8	2.05	1.98	1.92	1.89	1.78	2.03	1.39	1.04	1.01	1.51	2.09
Total Debt/Equity (%)	76.5	34.21	28.62	15.62	30.88	27.25	24.46	21.36	18.47	22.69	16.47	13.17	55.28	18.29	22.87
Total Debt/Capital (%)	45.16	28.28	24.19	14.63	25.91	23.63	21.53	18.93	17.17	20.36	18.52	12.7	38.65	21.97	26.16
Total Debt/Total Assets (%)	5.26	2.88	2.93	1.8	2.05	1.98	1.92	1.89	1.78	2.03	1.39	1.04	4.53	1.51	2.09
CFO/Total Liabilities	2.08	2.5	1.85	1.53	0.71	1.36	0.96	2	1.64	1.74	0.62	2.12	1.26	-1.2	1.36
CFO/CapEx	22.11	22.09	15.84	14.75	2.3	8.72	6.14	8.94	11.51	16.6	9.42	22.67	8.78	-6.73	6.01
Altman's Z-Score	0.11	0.12	0.16	0.2	0.15	0.18	0.21	0.23	0.24	0.2	0.17	0.19	0.19	0.15	0.19

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	15.42	16.75	17.71	19.82	19.22	18.13	17.89	17.86	17.07	15.35	13.25	13.46	11.65	12.07	14.06
Days Sales Outstanding	23.68	21.79	20.61	18.41	18.99	20.13	20.4	20.44	21.38	23.77	27.54	27.11	31.33	30.25	25.97
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	18	21	28	42	44	63	89	96	106	82	128	107	136	160	227
- Cash & Cash Equivalents	30	31	32	25	39	41	40	29	46	127	176	67	87	163	161
+ Preferred Equity and Hybrid Capital	14	14	15	15	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	28	15	15	9	14	14	14	14	14	19	19	14	64	30	43
Enterprise Value	-61	-70	-77	-42	-87	-58	-26	-18	-46	-166	-319	-108	-39	-136	92
Total Capital	63	54	63	64	55	60	66	75	83	95	104	112	166	139	163
Total Debt/Capital (%)	45.16	28.28	24.19	14.63	25.91	23.63	21.53	18.93	17.17	20.36	18.52	12.7	38.65	21.97	26.16
Total Debt / EV	-0.47	-0.22	-0.2	-0.22	-0.16	-0.24	-0.55	-0.79	-0.31	-0.12	-0.06	-0.13	-1.63	-0.22	0.46
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.4	1.05
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.84	20.3
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.66
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.13
Diluted Market Cap	18	21	28	42	44	63	89	96	106	82	128	107	137	160	228
Diluted Enterprise Value	31	19	26	41	19	36	63	82	75	-26	-29	55	114	28	109
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.74	10.21
TTM Sales	25	26	24	25	28	31	33	36	36	37	44	57	54	64	88
TTM EBITDA	1	1	1	1	2	2	2	2	2	1	1	2	2	2	5
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	10	12	9	7	5	9	7	14	12	15	8	27	16	-22	25
TTM Free Cash Flow to Firm	11	13	9	7	7	10	8	15	13	16	9	28	18	-19	29

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	1.63	1.62	3	5.67	6.66	6.31	11.65	6.29	8.25	5.15	14.69	3.84	7.48	-8.49	7.77
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-61	-70	-77	-42	-87	-58	-26	-18	-46	-166	-319	-108	-39	-136	92
Low Price	4.4	3.55	4.41	5.65	7.92	8.65	12.85	17.61	16.74	11.54	16.5	13.45	13.13	14.5	18.26
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.4	1.05
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.84	20.3
Price/Earnings	- -	10.92	3.09	6.53	28.5	10.71	13.79	9.48	11.12	9.31	12.32	6.38	14.16	22.98	12.82
Price/Earnings Average	-2.33	9.95	3.3	5.84	28.52	8.47	11.47	9.68	10.31	8.64	10.87	7.09	11.19	18.43	11.39
Price/Earnings High	-3.18	13.94	4.1	6.72	31.85	10.95	13.83	11.49	16.11	11.79	12.79	8.92	14.16	25.96	13.7
Price/Earnings Low	-1.1	7.39	2.41	4.27	25.22	7.21	9.85	8.61	8.7	6.36	8.84	5.01	8.55	14.48	9.28
Price/Book Value	0.88	0.84	0.83	1.07	1.08	1.38	1.72	1.58	1.54	1.09	1.51	1.09	1.34	1.48	1.89
Price/Book Value Average	1.37	0.77	0.88	0.96	1.08	1.09	1.43	1.61	1.43	1.02	1.33	1.21	1.06	1.19	1.68
Price/Book Value High	1.87	1.08	1.1	1.1	1.21	1.41	1.72	1.91	2.24	1.39	1.56	1.53	1.34	1.67	2.02
Price/Book Value Low	0.64	0.57	0.65	0.7	0.96	0.93	1.22	1.43	1.21	0.75	1.08	0.86	0.81	0.93	1.37
Price/Tangible Book Value	0.78	0.68	0.71	0.94	1.01	1.25	1.55	1.45	1.38	0.97	1.12	1.02	1.2	1.08	1.34
Price/Tangible Book Value Average	1.21	0.62	0.76	0.84	1.01	0.99	1.29	1.48	1.28	0.9	0.99	1.13	0.95	0.86	1.19
Price/Tangible Book Value High	1.65	0.87	0.94	0.97	1.13	1.28	1.56	1.76	2	1.23	1.16	1.42	1.2	1.22	1.43
Price/Tangible Book Value Low	0.57	0.46	0.55	0.62	0.89	0.84	1.11	1.32	1.08	0.66	0.8	0.8	0.73	0.68	0.97
Price/Sales	0.7	0.8	1.13	1.67	1.56	2.05	2.72	2.67	2.98	2.25	2.91	1.88	2.54	2.49	2.59
Price/Sales Average	1.09	0.73	1.21	1.49	1.57	1.62	2.26	2.73	2.76	2.08	2.57	2.09	2.01	1.99	2.3
Price/Sales High	1.49	1.02	1.5	1.72	1.75	2.09	2.72	3.24	4.32	2.84	3.02	2.63	2.54	2.81	2.76
Price/Sales Low	0.51	0.54	0.88	1.09	1.38	1.38	1.94	2.42	2.33	1.53	2.09	1.48	1.54	1.57	1.87
Price/Cash Flow	1.7	1.69	3.19	6.05	9.55	7.02	13.54	6.98	8.97	5.46	16.23	4	8.31	-7.21	9.04
Price/Cash Flow Average	2.65	1.54	3.4	5.42	9.56	5.56	11.26	7.13	8.31	5.07	14.32	4.45	6.57	-5.78	8.03
Price/Cash Flow High	3.61	2.16	4.23	6.23	10.67	7.18	13.58	8.46	12.99	6.92	16.84	5.6	8.31	-8.14	9.66
Price/Cash Flow Low	1.25	1.15	2.49	3.95	8.45	4.73	9.67	6.34	7.01	3.73	11.64	3.14	5.02	-4.54	6.54
Price/Free Cash Flow Average	2.53	1.48	3.2	5.07	6.67	4.99	9.69	6.41	7.65	4.79	12.96	4.27	5.91	-6.81	6.9
Price/Free Cash Flow High	3.45	2.07	3.98	5.83	7.44	6.44	11.68	7.61	11.96	6.53	15.25	5.37	7.48	-9.59	8.3
Price/Free Cash Flow Low	1.19	1.1	2.34	3.7	5.9	4.25	8.32	5.71	6.46	3.52	10.54	3.01	4.52	-5.35	5.62
EV/Sales Average	1.61	0.68	1.14	1.46	0.67	0.75	1.47	2.33	1.88	- -	- -	1.17	1.58	- -	0.95
EV/Sales High	2.01	0.98	1.44	1.68	0.85	1.22	1.94	2.84	3.43	- -	- -	1.71	2.12	0.75	1.42
EV/Sales Low	1.03	0.49	0.82	1.05	0.49	0.51	1.15	2.03	1.45	- -	- -	0.55	1.11	- -	0.52
EV/EBITDA Average	34.43	15.86	27.63	37.64	10.05	10.89	24.01	46.36	40.94	-21.46	-31.39	43.92	52.48	-1.67	18.43
EV/EBITDA High	42.91	22.67	34.77	43.42	12.79	17.76	31.6	56.53	74.76	-2.48	-17.25	64.22	70.17	20.18	27.48
EV/EBITDA Low	22.06	11.48	19.78	27.22	7.34	7.39	18.8	40.36	31.51	-35.26	-46.37	20.79	36.74	-13.15	10.15
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	6	5.25	5.65	8.65	8.95	12.85	18	19.4	21.4	16.9	23	17.13	21.75	23.01	25.24
High Price	12.75	6.7	7.5	8.9	10	13.13	18.05	23.5	31	21.4	23.87	23.96	21.75	26	26.97
Enterprise Value Average	41	18	28	37	19	23	48	84	67	-31	-44	66	85	-4	83
Enterprise Value High	51	25	35	43	24	38	63	102	122	-4	-24	97	113	48	124
Enterprise Value Low	26	13	20	27	14	16	38	73	52	-52	-65	31	59	-32	46

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	3	5	5	5	5	5	5	5	5	5	6	6	6	9	9
Diluted Weighted Avg Shares	3	4	5	5	5	5	5	5	5	5	6	6	6	7	9
Basic Weighted Avg Shares	3	4	5	5	5	5	5	5	5	5	6	6	6	7	9
Revenue per Share	8.57	6.54	4.99	5.18	5.72	6.27	6.63	7.26	7.18	7.53	7.9	9.09	8.55	9.26	9.76
EBITDA per Share	0.4	0.28	0.21	0.2	0.38	0.43	0.41	0.36	0.33	0.3	0.25	0.24	0.26	0.35	0.5
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-4.01	0.48	1.83	1.32	0.31	1.2	1.3	2.05	1.92	1.82	1.87	2.69	1.54	1	1.97
Basic EPS from Cont Ops	-3.71	0.71	2.01	1.56	0.54	1.2	1.3	2.05	1.92	1.82	1.87	2.69	1.54	1	1.97
Diluted EPS, GAAP	-4.01	0.48	1.83	1.32	0.31	1.2	1.3	2.04	1.92	1.82	1.86	2.68	1.53	1	1.96
Diluted EPS from Cont Ops	-3.71	0.71	2.01	1.56	0.54	1.2	1.3	2.04	1.92	1.82	1.86	2.68	1.53	1	1.96
Dividend per Share	0.44	0.19	0.15	0.28	0.35	0.11	0.13	0.19	0.34	0.41	0.45	0.53	0.57	0.58	0.61
Cash Flow per Share	3.53	3.1	1.77	1.43	0.94	1.83	1.33	2.78	2.39	3.09	1.42	4.28	2.62	-3.19	2.79
Free Cash Flow per Basic Share	3.37	2.96	1.66	1.33	0.53	1.62	1.11	2.47	2.18	2.91	1.27	4.09	2.32	-3.67	2.33
Cash & Equivalents per Share	41	30.54	27.5	22.06	29.51	27.59	26.16	25.94	33.59	54.84	83.87	36.76	38.31	46.97	19.77
Book Value per Share	6.83	6.22	6.83	8.1	8.26	9.32	10.49	12.32	13.86	15.45	15.27	15.69	16.28	15.55	13.37
Tangible Book Value per Share	7.73	7.73	7.96	9.16	8.89	10.27	11.58	13.36	15.52	17.4	20.51	16.82	18.06	21.35	18.89

First National Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

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Per Share Data Items (USD)