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First Natl Corp Financials

FXNC
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows First Natl Corp (FXNC) 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 FXNC FY2025

Thin asset returns are being amplified by leverage, while FY2025 delivered a cash-flow rebound without heavier balance-sheet dependence.

Equity absorbed more of the latest balance-sheet growth than liabilities did, which pushed debt-to-equity down from 11.1x to 9.9x instead of levering the company further. Operating cash flow also reversed from -$22.2M to $25.1M, so FY2025's stronger result was backed by cash generation rather than only accounting recovery, a cleaner profile than the prior year.

Because total assets are more than 100x reported revenue, the usual revenue-margin lens says little about the business model; what matters is how efficiently a very large balance sheet earns against its funding base. FY2025 generated only 0.9% return on assets, but leverage still translated that into 9.5% ROE.

Cash balances stayed near $160.9M even after $5.5M of dividends, so the latest shareholder payout did not require a noticeable liquidity draw. That steadiness matters because FY2024 had negative operating cash flow, making the 2025 cash profile look more like normalization than a need for extra external support.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Earnings Growth Capital Efficiency Credit Quality Stability 41 / 100
Financial Health Score 41/100
Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of First Natl Corp'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.

Earnings
28
Growth
87
Capital
19
Efficiency
23
Credit Quality
51
Stability
36
Piotroski F-Score Partial
4/6

First Natl Corp passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.42x

For every $1 of reported earnings, First Natl Corp generates $1.42 in operating cash flow ($25.1M OCF vs $17.7M 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
$14.3M
YoY+0.8%
5Y CAGR+13.8%
10Y CAGR-4.3%

First Natl Corp generated $14.3M in revenue in fiscal year 2025. This represents an increase of 0.8% from the prior year.

EBITDA
N/A
Net Income
$17.7M
YoY+154.1%
5Y CAGR+14.9%
10Y CAGR+20.9%

First Natl Corp reported $17.7M in net income in fiscal year 2025. This represents an increase of 154.1% from the prior year.

EPS (Diluted)
$1.96
YoY+96.0%
5Y CAGR+1.5%
10Y CAGR+20.3%

First Natl Corp earned $1.96 per diluted share (EPS) in fiscal year 2025. This represents an increase of 96.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$20.9M
YoY+182.1%
5Y CAGR+8.1%
10Y CAGR+23.2%

First Natl Corp generated $20.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 182.1% from the prior year.

Cash & Debt
$160.9M
YoY-1.2%
10Y CAGR+15.1%

First Natl Corp held $160.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.64
YoY+5.0%
5Y CAGR+7.6%
10Y CAGR+20.3%

First Natl Corp paid $0.64 per share in dividends in fiscal year 2025. This represents an increase of 5.0% from the prior year.

Shares Outstanding
9M
YoY+0.6%
5Y CAGR+13.2%
10Y CAGR+6.3%

First Natl Corp had 9M shares outstanding in fiscal year 2025. This represents an increase of 0.6% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
123.9%
YoY+74.8pp
5Y CAGR+5.7pp
10Y CAGR+111.9pp

First Natl Corp's net profit margin was 123.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 74.8 percentage points from the prior year.

Return on Equity
9.5%
YoY+5.3pp
5Y CAGR-0.9pp
10Y CAGR+3.7pp

First Natl Corp's ROE was 9.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.3 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$4.2M
YoY+26.7%
5Y CAGR+35.7%
10Y CAGR+7.7%

First Natl Corp invested $4.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.7% from the prior year.

FXNC Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $3.3M-5.6% $3.5M-15.3% $4.1M+19.8% $3.4M+4.7% $3.3M-49.5% $6.5M+144.2% $2.7M+5.7% $2.5M
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 $9.0M+6.2% $8.5M-0.4% $8.5M+5.7% $8.0M-7.5% $8.7M+15.9% $7.5M+26.5% $5.9M+1.5% $5.8M
Operating Income N/A N/A N/A N/A N/A N/A N/A N/A
Interest Expense $5.7M-9.9% $6.3M-7.7% $6.8M+2.6% $6.6M+0.7% $6.6M-7.8% $7.1M+25.1% $5.7M+2.4% $5.6M
Income Tax $1.2M-15.0% $1.4M+9.4% $1.3M-1.1% $1.3M+332.3% $297K+131.5% -$943K-273.0% $545K-19.7% $679K
Net Income $4.9M-11.2% $5.5M-0.8% $5.5M+9.9% $5.1M+216.1% $1.6M+271.3% -$933K-141.5% $2.2M-7.9% $2.4M
EPS (Diluted) $0.54 N/A $0.62+10.7% $0.56+211.1% $0.18 N/A $0.36-7.7% $0.39

FXNC Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $2.1B+1.9% $2.0B+0.4% $2.0B-0.5% $2.0B+0.4% $2.0B+1.1% $2.0B+38.6% $1.5B-0.5% $1.5B
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents $187.8M+16.7% $160.9M-15.0% $189.3M-2.6% $194.3M-5.7% $206.0M+26.5% $162.9M+28.7% $126.5M-6.7% $135.6M
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 $3.0M0.0% $3.0M0.0% $3.0M0.0% $3.0M0.0% $3.0M0.0% $3.0M0.0% $3.0M0.0% $3.0M
Total Liabilities $1.9B+1.9% $1.9B+0.1% $1.8B-1.0% $1.9B+0.2% $1.9B+1.1% $1.8B+39.1% $1.3B-0.9% $1.3B
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 $188.6M+1.3% $186.2M+2.8% $181.2M+4.4% $173.5M+2.9% $168.7M+1.3% $166.5M+33.1% $125.1M+4.4% $119.9M
Retained Earnings $112.3M+3.1% $108.9M+3.8% $105.0M+4.1% $100.8M+3.8% $97.2M+0.2% $96.9M-2.3% $99.3M+1.3% $98.0M

FXNC Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $6.4M-24.2% $8.4M+0.1% $8.4M+79.5% $4.7M+33.3% $3.5M+109.6% -$36.7M-697.2% $6.1M+69.1% $3.6M
Capital Expenditures $488K-67.6% $1.5M-6.1% $1.6M+172.6% $588K+21.7% $483K-57.5% $1.1M-5.6% $1.2M+84.5% $653K
Free Cash Flow $5.9M-14.7% $6.9M+1.5% $6.8M+66.2% $4.1M+35.1% $3.0M+108.0% -$37.8M-866.0% $4.9M+65.7% $3.0M
Investing Cash Flow -$15.6M+58.1% -$37.2M-678.3% $6.4M+135.7% -$18.0M-193.1% $19.3M-85.0% $128.7M+7103.9% -$1.8M+85.3% -$12.5M
Financing Cash Flow $36.1M+11105.9% $322K+101.6% -$19.9M-1351.6% $1.6M-92.2% $20.3M+136.4% -$55.7M-314.9% -$13.4M-332.5% $5.8M
Dividends Paid $1.5M+0.4% $1.5M+9.9% $1.3M+0.1% $1.3M-0.1% $1.3M+0.3% $1.3M+49.9% $896K-0.3% $899K
Share Buybacks $185K N/A N/A N/A N/A N/A N/A N/A

FXNC Financial Ratios

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 148.8%-9.4pp 158.2%+23.1pp 135.1%-12.3pp 147.3%+98.6pp 48.8%+63.2pp -14.4%-99.1pp 84.7%-12.6pp 97.3%
Return on Equity 2.6%-0.4pp 3.0%-0.1pp 3.1%+0.1pp 2.9%+2.0pp 0.9%+1.5pp -0.6%-2.4pp 1.8%-0.2pp 2.0%
Return on Assets 0.2%-0.0pp 0.3%0.0pp 0.3%+0.0pp 0.3%+0.2pp 0.1%+0.1pp -0.1%-0.2pp 0.1%-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 10.01+0.1 9.95-0.3 10.21-0.6 10.76-0.3 11.05-0.0 11.07+0.5 10.60-0.6 11.16
FCF Margin 180.2%-19.3pp 199.4%+33.1pp 166.4%+46.4pp 120.0%+27.0pp 93.0%+676.7pp -583.7%-769.8pp 186.1%+67.4pp 118.7%

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Frequently Asked Questions

First Natl Corp (FXNC) reported $14.3M in total revenue for fiscal year 2025. This represents a 0.8% 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.

First Natl Corp (FXNC) revenue grew by 0.8% year-over-year, from $14.2M to $14.3M in fiscal year 2025.

Yes, First Natl Corp (FXNC) reported a net income of $17.7M in fiscal year 2025, with a net profit margin of 123.9%.

First Natl Corp (FXNC) reported diluted earnings per share of $1.96 for fiscal year 2025. This represents a 96.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

First Natl Corp (FXNC) had a net profit margin of 123.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, First Natl Corp (FXNC) paid $0.64 per share in dividends during fiscal year 2025.

First Natl Corp (FXNC) has a return on equity of 9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

First Natl Corp (FXNC) generated $20.9M in free cash flow during fiscal year 2025. This represents a 182.1% 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.

First Natl Corp (FXNC) generated $25.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

First Natl Corp (FXNC) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.

First Natl Corp (FXNC) invested $4.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

First Natl Corp (FXNC) had 9M shares outstanding as of fiscal year 2025.

First Natl Corp (FXNC) had a debt-to-equity ratio of 9.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

First Natl Corp (FXNC) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

First Natl Corp (FXNC) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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.

First Natl Corp (FXNC) has an earnings quality ratio of 1.42x, 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.

First Natl Corp (FXNC) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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