National Bankshares, Inc. (NKSH) Income Statement
NKSH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNKSH revenue and net income
Where NKSH's revenue goes
2025Each bar shows an amount and its share of revenue. NKSH kept 18.6% of revenue as net income.
NKSH profit margins
NKSH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.9% | +10.9% | +10.4% | +5.6% |
| Gross profit | +25.9% | −1.8% | +4.7% | +2.5% |
| Operating income | +110.1% | −15.5% | +0.0% | −0.7% |
| Net income | +107.6% | −15.2% | −0.3% | −0.0% |
| EPS (diluted) | +102.3% | −11.8% | +1.2% | +1.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NKSH quarterly EPS vs estimates
National Bankshares beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 22, 2026 (estimate $0.98).
NKSH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $85.3M | $79.1M | $68.2M | $62.5M | $53.4M | $52.0M | $53.9M | $51.0M | $48.9M | $48.0M |
| Cost of revenue | $29.7M | $35.0M | $20.3M | $3.8M | $2.7M | $7.8M | $7.5M | $5.0M | $4.3M | $5.8M |
| Gross profit | $55.6M | $44.1M | $47.9M | $58.7M | $50.7M | $44.1M | $46.4M | $46.0M | $44.6M | $42.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $23.9M | $20.0M | $18.1M | $17.0M | $16.2M | $14.8M | $15.1M | $14.9M | $14.1M | $13.3M |
| Total operating expenses | $36.4M | $35.0M | $29.2M | $27.0M | $26.1M | $25.0M | $25.8M | $27.3M | $24.2M | $23.3M |
| Operating income | $19.2M | $9.1M | $18.7M | $31.8M | $24.6M | $19.2M | $20.7M | $18.7M | $20.4M | $18.9M |
| Interest income | $75.3M | $70.1M | $57.3M | $50.1M | $45.0M | $44.0M | $45.1M | $43.2M | $41.3M | $40.9M |
| Interest expense | $29.8M | $33.7M | $21.6M | $3.1M | $3.1M | $5.8M | $7.4M | $5.0M | $4.1M | $4.2M |
| Income before taxes | $19.2M | $9.1M | $18.7M | $31.8M | $24.6M | $19.2M | $20.7M | $18.7M | $20.4M | $18.9M |
| Income taxes | $3.3M | $1.5M | $3.0M | $5.8M | $4.3M | $3.1M | $3.2M | $2.6M | $6.3M | $4.0M |
| Net income | $15.8M | $7.6M | $15.7M | $25.9M | $20.4M | $16.1M | $17.5M | $16.2M | $14.1M | $14.9M |
| EBITDA | $20.6M | $10.3M | $19.4M | $32.4M | $25.3M | $19.9M | $21.4M | $19.5M | $21.3M | $20.0M |
| EPS (diluted) | $2.63 | $1.30 | $2.41 | $3.83 | $3.30 | $2.48 | $2.63 | $2.32 | $2.01 | $2.14 |
| Gross margin | 65.1% | 55.8% | 70.2% | 93.9% | 94.9% | 84.9% | 86.1% | 90.3% | 91.2% | 87.9% |
| Operating margin | 22.5% | 11.5% | 27.4% | 50.8% | 46.1% | 36.9% | 38.3% | 36.7% | 41.7% | 39.3% |
| Net margin | 18.6% | 9.6% | 23.0% | 41.5% | 38.2% | 30.9% | 32.4% | 31.7% | 28.8% | 31.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.9M | $21.6M | $22.2M | $21.4M | $20.8M | $20.8M | $20.6M | $20.9M | $19.4M | $18.2M | $17.8M | $16.8M |
| Cost of revenue | $6.2M | $6.2M | $6.3M | $7.6M | $7.6M | $8.2M | $8.3M | $9.2M | $9.7M | $7.8M | $6.2M | $5.7M |
| Gross profit | $671,000 | $15.4M | $15.9M | $13.8M | $13.2M | $12.5M | $12.3M | $11.7M | $9.6M | $10.5M | $11.6M | $11.1M |
| Sales, general & admin | $6.7M | $6.7M | $6.2M | $5.6M | $5.4M | $5.4M | $5.3M | $5.2M | $10.1M | $4.7M | $4.1M | $4.7M |
| Total operating expenses | $6.7M | $9.3M | $8.7M | $8.4M | $10.6M | $8.6M | $8.6M | $8.5M | $10.1M | $7.8M | $6.5M | $7.4M |
| Operating income | −$6.0M | $6.0M | $7.2M | $5.4M | $2.7M | $3.9M | $3.7M | $3.2M | −$483,000 | $2.7M | $5.1M | $3.7M |
| Interest income | $19.5M | $18.9M | $19.6M | $19.0M | $18.5M | $18.2M | $18.3M | $18.7M | $17.1M | $16.0M | $15.5M | $14.7M |
| Interest expense | $6.4M | $6.3M | $6.9M | $7.3M | $7.5M | $7.9M | $8.3M | $9.2M | $8.4M | $7.8M | $7.0M | $6.0M |
| Income before taxes | $6.1M | $6.0M | $7.2M | $5.4M | $2.7M | $3.9M | $3.7M | $3.2M | −$483,000 | $2.7M | $5.1M | $3.7M |
| Income taxes | $1.0M | $1.1M | $1.4M | $961,000 | $362,000 | $666,000 | $608,000 | $550,000 | −$177,000 | $518,000 | $879,000 | $617,000 |
| Net income | $5.0M | $5.0M | $5.9M | $4.4M | $2.3M | $3.2M | $3.1M | $2.7M | −$306,000 | $2.2M | $4.2M | $3.1M |
| EBITDA | −$5.6M | $6.4M | $7.6M | $5.8M | $3.0M | $4.2M | $4.0M | $3.6M | −$269,000 | $2.9M | $5.3M | $3.9M |
| EPS (diluted) | $0.79 | $0.78 | $0.84 | $0.70 | $0.61 | $0.48 | $0.48 | $0.44 | −$0.05 | $0.43 | $0.56 | $0.47 |
| Gross margin | 9.7% | 71.1% | 71.7% | 64.4% | 63.6% | 60.4% | 59.9% | 56.0% | 49.8% | 57.4% | 65.3% | 66.2% |
| Operating margin | −87.4% | 28.0% | 32.6% | 25.1% | 12.7% | 18.8% | 17.9% | 15.4% | −2.5% | 14.8% | 28.5% | 22.0% |
| Net margin | 72.7% | 23.0% | 26.5% | 20.6% | 11.0% | 15.6% | 15.0% | 12.8% | −1.6% | 11.9% | 23.6% | 18.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NKSH's financial statements (latest annual report filed March 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NKSH financial results
In fiscal year 2025 (ended December 31, 2025), National Bankshares reported revenue of $85.3 million, up 7.9% from the year before. It had net income of $15.8 million (up 107.6%), a net profit margin of 18.6%. Diluted earnings per share came to $2.63. Over five years revenue grew at an average rate of 10.4% a year.
See the NKSH stock overview for the latest quote and news, or the NKSH chart for price history and technical indicators.
NKSH income statement FAQ
What is National Bankshares's annual revenue?
National Bankshares reported total revenue of $85.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 7.9% from $79.1 million the previous year.
Is National Bankshares profitable?
Yes. National Bankshares reported net income of $15.8 million in fiscal 2025, a net profit margin of 18.6%; its operating margin was 22.5%.
What is National Bankshares's gross margin?
National Bankshares's gross margin was 65.1% in fiscal 2025: for every $100 of revenue, National Bankshares kept $65 after the direct cost of its products and services.
How fast is National Bankshares growing?
Revenue grew 10.4% a year on average over the last five fiscal years, from $52.0 million to $85.3 million.
What are National Bankshares's earnings per share?
National Bankshares earned $2.63 per diluted share in fiscal 2025, compared with $1.30 a year earlier.
When will National Bankshares report its next earnings?
National Bankshares is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 after the market closes.
When does National Bankshares's fiscal year end?
National Bankshares's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 27, 2026.