Citizen And Nrth Financials

CZNC

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Citizen And Nrth (CZNC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CZNC FY2025 2026-05-08

Balance-sheet growth is outpacing earnings efficiency, leaving Citizens & Northern larger but less profitable per dollar of assets.

From FY2023 to FY2025, total assets climbed from $2.5B to $3.1B while return on assets fell from 1.0% to 0.8% and net margin slid from 21.3% to 16.8%. That combination shows an asset-heavy business getting bigger without extracting more earnings from each dollar it controls.

Operating cash flow has stayed near $33M for three years, and free cash flow remains close because annual capex is only about $1.9M. The FY2025 softness is therefore less about cash conversion and more about weaker profit generation on a larger balance sheet.

Leverage was still high at 8.2x debt-to-equity in FY2025, yet that was slightly lower than 8.6x in FY2023 while equity capital increased from $262.4M to $341.7M. So recent asset growth did not come from stretching leverage further; the capital cushion improved modestly even as returns on that capital eased.

Financial Health Signals

Financial Profile 27/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Citizen And Nrth's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Citizen And Nrth's revenue grew 8.7% year-over-year to $139.2M, a solid pace of expansion. This earns a growth score of 51/100.

Leverage

Citizen And Nrth has elevated debt relative to equity (D/E of 8.17), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

Citizen And Nrth converts 21.6% of revenue into free cash flow ($30.1M). This strong cash generation earns a score of 84/100.

Returns

Citizen And Nrth generates a 6.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is down from 9.4% the prior year.

Piotroski F-Score Weak

3/9

Citizen And Nrth passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.37x

For every $1 of reported earnings, Citizen And Nrth generates $1.37 in operating cash flow ($32.0M OCF vs $23.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$139.2M

YoY+8.7%

5Y CAGR+12.5%

10Y CAGR+12.1%

Citizen And Nrth generated $139.2M in revenue in fiscal year 2025. This represents an increase of 8.7% from the prior year.

EBITDA

N/A

Net Income

$23.4M

YoY-9.8%

5Y CAGR+4.0%

10Y CAGR+3.6%

Citizen And Nrth reported $23.4M in net income in fiscal year 2025. This represents a decrease of 9.8% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$30.1M

YoY-3.3%

5Y CAGR+6.8%

10Y CAGR+4.9%

Citizen And Nrth generated $30.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 3.3% from the prior year.

Cash & Debt

$46.1M

YoY-63.5%

5Y CAGR-14.7%

10Y CAGR+3.3%

Citizen And Nrth held $46.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

18M

YoY+15.5%

5Y CAGR+2.3%

10Y CAGR+3.9%

Citizen And Nrth had 18M shares outstanding in fiscal year 2025. This represents an increase of 15.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

16.8%

YoY-3.4pp

5Y CAGR-8.1pp

10Y CAGR-20.2pp

Citizen And Nrth's net profit margin was 16.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.4 percentage points from the prior year.

Return on Equity

6.9%

YoY-2.6pp

5Y CAGR+0.4pp

10Y CAGR-1.9pp

Citizen And Nrth's ROE was 6.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$1.9M

YoY-0.1%

5Y CAGR-9.5%

10Y CAGR+6.2%

Citizen And Nrth invested $1.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.1% from the prior year.

CZNC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$139.2M+8.7%	$128.1M+12.8%	$113.5M+22.5%	$92.6M+9.6%	$84.5M+9.5%	$77.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$88.0M+18.5%	$74.3M+0.1%	$74.1M+9.1%	$68.0M+8.8%	$62.5M-3.8%	$65.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$47.4M-3.3%	$49.0M+47.9%	$33.1M+247.8%	$9.5M+45.1%	$6.6M-31.6%	$9.6M
Income Tax	$5.2M-11.8%	$5.9M-6.7%	$6.3M+10.5%	$5.7M-19.6%	$7.1M+78.8%	$4.0M
Net Income	$23.4M-9.8%	$26.0M+7.5%	$24.1M-9.3%	$26.6M-12.9%	$30.6M+59.0%	$19.2M
EPS (Diluted)	N/A	$1.69+7.6%	$1.57-8.2%	$1.71-10.9%	$1.92+47.7%	$1.30

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$40.6M-2.0%	$41.4M+23.0%	$33.6M+3.7%	$32.5M+2.3%	$31.7M-4.9%	$33.3M+0.7%	$33.1M+5.6%	$31.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$22.7M-24.7%	$30.2M+55.5%	$19.4M0.0%	$19.4M+1.9%	$19.0M+3.3%	$18.4M+0.9%	$18.3M-5.1%	$19.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$12.1M-6.2%	$12.9M+13.6%	$11.4M+0.7%	$11.3M-3.6%	$11.7M-8.7%	$12.9M-0.6%	$12.9M+8.8%	$11.9M
Income Tax	$62K-93.3%	$926K-36.7%	$1.5M+3.5%	$1.4M+0.3%	$1.4M-27.5%	$1.9M+34.5%	$1.4M+6.0%	$1.4M
Net Income	$273K-93.9%	$4.5M-31.8%	$6.6M+7.1%	$6.1M-2.8%	$6.3M-23.0%	$8.2M+28.4%	$6.4M+4.1%	$6.1M
EPS (Diluted)	$0.02	N/A	$0.42+5.0%	$0.40-2.4%	$0.41	N/A	$0.41+2.5%	$0.40

CZNC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.1B+20.0%	$2.6B+3.8%	$2.5B+2.5%	$2.5B+5.4%	$2.3B+4.0%	$2.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$46.1M-63.5%	$126.2M+121.8%	$56.9M+3.3%	$55.0M-47.5%	$104.9M+3.0%	$101.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$63.3M+20.6%	$52.5M0.0%	$52.5M0.0%	$52.5M0.0%	$52.5M0.0%	$52.5M
Total Liabilities	$2.8B+19.5%	$2.3B+3.6%	$2.3B+2.2%	$2.2B+8.8%	$2.0B+4.5%	$1.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$341.7M+24.1%	$275.3M+4.9%	$262.4M+5.2%	$249.3M-17.3%	$301.4M+0.6%	$299.8M
Retained Earnings	$171.2M+3.3%	$165.8M+5.6%	$157.0M+3.5%	$151.7M+6.4%	$142.6M+10.0%	$129.7M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$3.2B+1.0%	$3.1B+17.6%	$2.7B+2.0%	$2.6B+0.1%	$2.6B-0.1%	$2.6B-2.3%	$2.7B+3.0%	$2.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$54.8M+19.0%	$46.1M-62.6%	$123.1M+23.6%	$99.6M-13.2%	$114.7M-9.1%	$126.2M-31.5%	$184.2M+83.5%	$100.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$63.3M0.0%	$63.3M+20.6%	$52.5M0.0%	$52.5M0.0%	$52.5M0.0%	$52.5M0.0%	$52.5M0.0%	$52.5M
Total Liabilities	$2.8B+1.4%	$2.8B+17.7%	$2.4B+2.0%	$2.3B-0.1%	$2.3B-0.3%	$2.3B-2.4%	$2.4B+2.7%	$2.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$335.6M-1.8%	$341.7M+16.2%	$294.0M+2.7%	$286.4M+1.6%	$281.8M+2.4%	$275.3M-0.7%	$277.3M+5.4%	$263.2M
Retained Earnings	$166.5M-2.8%	$171.2M-0.3%	$171.7M+1.3%	$169.5M+1.1%	$167.7M+1.2%	$165.8M+2.4%	$161.9M+1.3%	$159.9M

CZNC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$32.0M-3.1%	$33.0M-1.5%	$33.5M-3.0%	$34.6M-0.7%	$34.8M+40.6%	$24.8M
Capital Expenditures	$1.9M-0.1%	$1.9M-15.8%	$2.3M-31.1%	$3.3M+76.4%	$1.9M-40.6%	$3.1M
Free Cash Flow	$30.1M-3.3%	$31.1M-0.5%	$31.3M-0.1%	$31.3M-5.1%	$33.0M+52.4%	$21.6M
Investing Cash Flow	$196K+100.9%	-$20.9M+60.6%	-$53.2M+77.3%	-$234.7M-125.9%	-$103.9M-207.6%	$96.6M
Financing Cash Flow	-$111.1M-289.2%	$58.7M+137.3%	$24.7M-83.7%	$151.9M+120.6%	$68.9M+222.0%	-$56.5M
Dividends Paid	$16.3M+4.9%	$15.5M-0.3%	$15.6M-1.9%	$15.9M-0.7%	$16.0M+10.4%	$14.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$163K

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$8.7M-18.2%	$10.6M-6.6%	$11.3M+33.1%	$8.5M+437.8%	$1.6M-86.9%	$12.1M+83.0%	$6.6M-23.6%	$8.6M
Capital Expenditures	$188K-58.4%	$452K+6.1%	$426K-12.2%	$485K-10.5%	$542K+54.0%	$352K+134.7%	$150K-77.3%	$660K
Free Cash Flow	$8.5M-16.4%	$10.1M-7.1%	$10.9M+35.8%	$8.0M+671.2%	$1.0M-91.1%	$11.7M+81.8%	$6.4M-19.1%	$8.0M
Investing Cash Flow	-$34.0M-168.0%	$50.0M+271.8%	-$29.1M-76.0%	-$16.5M-297.1%	-$4.2M+29.7%	-$5.9M-126.9%	$22.0M+219.6%	-$18.4M
Financing Cash Flow	$34.1M+124.8%	-$137.4M-427.0%	$42.0M+714.2%	-$6.8M+22.7%	-$8.9M+86.2%	-$63.9M-213.9%	$56.2M-12.3%	$64.0M
Dividends Paid	$4.6M+1.1%	$4.5M+16.4%	$3.9M0.0%	$3.9M-0.6%	$3.9M+1.0%	$3.9M+0.4%	$3.9M0.0%	$3.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CZNC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	16.8%-3.4pp	20.3%-1.0pp	21.3%-7.5pp	28.7%-7.4pp	36.2%+11.2pp	24.9%
Return on Equity	6.9%-2.6pp	9.4%+0.2pp	9.2%-1.5pp	10.7%+0.5pp	10.1%+3.7pp	6.4%
Return on Assets	0.8%-0.2pp	1.0%+0.0pp	1.0%-0.1pp	1.1%-0.2pp	1.3%+0.5pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	8.17-0.3	8.48-0.1	8.59-0.3	8.84+2.1	6.72+0.3	6.47
FCF Margin	21.6%-2.7pp	24.3%-3.3pp	27.6%-6.2pp	33.8%-5.2pp	39.0%+11.0pp	28.1%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	0.7%-10.1pp	10.8%-8.7pp	19.5%+0.6pp	18.9%-1.0pp	19.9%-4.7pp	24.5%+5.3pp	19.2%-0.3pp	19.5%
Return on Equity	0.1%-1.2pp	1.3%-0.9pp	2.2%+0.1pp	2.1%-0.1pp	2.2%-0.7pp	3.0%+0.7pp	2.3%-0.0pp	2.3%
Return on Assets	0.0%-0.1pp	0.1%-0.1pp	0.3%+0.0pp	0.2%0.0pp	0.2%-0.1pp	0.3%+0.1pp	0.2%0.0pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	8.43+0.3	8.17+0.1	8.06-0.1	8.12-0.1	8.26-0.2	8.48-0.1	8.63-0.2	8.85
FCF Margin	20.9%-3.6pp	24.5%-7.9pp	32.4%+7.7pp	24.7%+21.5pp	3.3%-31.9pp	35.2%+15.7pp	19.5%-6.0pp	25.4%

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Frequently Asked Questions

What is Citizen And Nrth's annual revenue?

Citizen And Nrth (CZNC) reported $139.2M in total revenue for fiscal year 2025. This represents a 8.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Citizen And Nrth's revenue growing?

Citizen And Nrth (CZNC) revenue grew by 8.7% year-over-year, from $128.1M to $139.2M in fiscal year 2025.

Is Citizen And Nrth profitable?

Yes, Citizen And Nrth (CZNC) reported a net income of $23.4M in fiscal year 2025, with a net profit margin of 16.8%.

What is Citizen And Nrth's net profit margin?

Citizen And Nrth (CZNC) had a net profit margin of 16.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Citizen And Nrth's return on equity (ROE)?

Citizen And Nrth (CZNC) has a return on equity of 6.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Citizen And Nrth's free cash flow?

Citizen And Nrth (CZNC) generated $30.1M in free cash flow during fiscal year 2025. This represents a -3.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Citizen And Nrth's operating cash flow?

Citizen And Nrth (CZNC) generated $32.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Citizen And Nrth's total assets?

Citizen And Nrth (CZNC) had $3.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Citizen And Nrth's capital expenditures?

Citizen And Nrth (CZNC) invested $1.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Citizen And Nrth have outstanding?

Citizen And Nrth (CZNC) had 18M shares outstanding as of fiscal year 2025.

What is Citizen And Nrth's debt-to-equity ratio?

Citizen And Nrth (CZNC) had a debt-to-equity ratio of 8.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Citizen And Nrth's return on assets (ROA)?

Citizen And Nrth (CZNC) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Citizen And Nrth's Piotroski F-Score?

Citizen And Nrth (CZNC) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Citizen And Nrth's earnings high quality?

Citizen And Nrth (CZNC) has an earnings quality ratio of 1.37x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Citizen And Nrth?

Citizen And Nrth (CZNC) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.