Valuation, from the filing
| Public float | $150.57M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $16.65 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 8.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 10.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
8.5× earnings today, against a median of 8.5× across 9 years on record. In line with its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $150.57M | 8.5× | |
| 2024-06-30 | $77.20M | 11.1× | |
| 2023-06-30 | $85.48M | 8.9× | |
| 2022-06-30 | $95.33M | 5.7× | |
| 2021-06-30 | $83.33M | 8.0× | |
| 2020-06-30 | $59.15M | 6.7× | |
| 2019-06-30 | $90.19M | 9.4× | |
| 2018-06-30 | $84.33M | 8.3× | |
| 2017-06-30 | $59.94M | 9.3× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the State Commercial Banks filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Effective tax rate | 19.3% | 30th | |
| Revenue YoY growth | 0.8% | 32th | |
| SBC / revenue | 8.3% | 56th | |
| Net margin | 123.9% | 46th |
FIRST NATIONAL CORP /VA/ (FXNC) reported revenue of $3.42M and net income of $5.74M for the fiscal year ended 2026-06-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from FIRST NATIONAL CORP /VA/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under State Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.42M | $3.28M | $3.48M | $4.11M | $3.43M | $3.28M | $6.85M | $2.65M | $2.51M | $2.54M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $5.74M | $4.89M | $5.50M | $5.55M | $5.05M | $1.60M | -$933.00K | $2.25M | $2.44M | $3.21M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 9.07M | shares 9.05M | Unavailable | shares 9.02M | shares 9.00M | shares 9.01M | Unavailable | shares 6.30M | shares 6.29M | shares 6.28M |
| Pretax income | $7.14M | $6.07M | $6.89M | $6.82M | $6.34M | $1.90M | -$1.88M | $2.79M | $3.12M | $4.01M |
| Income tax expense | $1.39M | $1.18M | $1.39M | $1.27M | $1.28M | $297.00K | -$943.00K | $545.00K | $679.00K | $801.00K |
| Diluted EPS | $0.63 | $0.54 | Unavailable | $0.62 | $0.56 | $0.18 | Unavailable | $0.36 | $0.39 | $0.51 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $166.15M | $187.81M | $160.91M | $189.32M | $194.32M | $206.03M | $162.87M | $126.52M | $135.64M | Unavailable |
| Total assets | $2.08B | $2.08B | $2.04B | $2.03B | $2.04B | $2.03B | $2.01B | $1.45B | $1.46B | $1.45B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $1.88B | $1.89B | $1.85B | $1.85B | $1.87B | $1.86B | $1.84B | $1.33B | $1.34B | $1.33B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $193.59M | $188.56M | $186.20M | $181.21M | $173.53M | $168.68M | $166.53M | $125.12M | $119.89M | $117.82M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $3.03M | $3.03M | $3.03M | $3.03M | $3.03M | $3.03M | $3.03M | $3.03M | $3.03M | $3.03M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.93M | $6.40M | $8.44M | $8.44M | $4.70M | $3.53M | -$36.68M | $6.14M | $3.63M | $4.70M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | -$20.91M | -$15.59M | -$37.17M | $6.43M | -$18.00M | $19.34M | $128.73M | -$1.84M | -$12.48M | $22.41M |
| Financing cash flow | -$7.68M | $36.08M | $322.00K | -$19.86M | $1.59M | $20.29M | -$55.69M | -$13.42M | $5.77M | $24.43M |
| Net change in cash | -$21.66M | $26.90M | -$28.41M | -$5.00M | -$11.72M | $43.16M | $36.36M | -$9.12M | -$3.08M | $51.55M |
| Stock-based compensation | $221.00K | $338.00K | $152.00K | $586.00K | $180.00K | $265.00K | $169.00K | $264.00K | $60.00K | $142.00K |
| Common dividends paid | $1.49M | $1.49M | $1.48M | $1.35M | $1.35M | $1.35M | $1.34M | $896.00K | $899.00K | $900.00K |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $732.00K | $722.00K | $709.00K | $706.00K | $675.00K | $665.00K | $646.00K | $448.00K | $442.00K | $404.00K |
Derived
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 6.5% | 10.3% | 4.4% | 14.3% | 5.3% | 8.1% | 2.5% | 10.0% | 2.4% | 5.6% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | -0.3% | 0.3% | -49.2% | 54.8% | 36.6% | 28.9% | 219.3% | -7.1% | -1.0% | 5.0% |
| Net margin | 168.0% | 148.8% | 158.2% | 135.1% | 147.3% | 48.8% | -13.6% | 84.7% | 97.3% | 126.3% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 19.5% | 19.5% | 20.2% | 18.6% | 20.3% | 15.7% | Unavailable | 19.5% | 21.8% | 20.0% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open FXNC in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.