Citizens & Northern Corporation (CZNC) Key Metrics
CZNC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $457.3M
- Enterprise value
- $544.8M
- P/E (TTM)
- 17.3 10-yr median 14.4
- Forward P/E
- 11.2
- PEG ratio
- 1.21
- Price / sales
- 3.6 10-yr median 3.4
- Price / book
- 1.3 10-yr median 1.4
- EV / EBITDA
- — 10-yr median 4.9
- Dividend yield
- 4.39% $1.12 a year
- Beta
- 0.40
CZNC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCZNC valuation Price multiples at each fiscal year-end price.
CZNC returns How much profit the business earns on the capital it uses.
CZNC per-share figures Results divided by the shares outstanding at year-end.
CZNC financial health Debt, liquidity and how easily interest is covered.
CZNC efficiency & capital use Working capital cycle and where the cash goes.
CZNC valuation history
CZNC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CZNC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CZNC cash returned to shareholders
CZNC price vs earnings per share
CZNC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $321.7M | $283.9M | $341.9M | $353.4M | $412.0M | $292.6M | $376.3M | $324.0M | $291.5M | $316.1M |
| Enterprise value | $177.4M | $143.0M | $81.0M | −$17.9M | −$133.1M | −$67.4M | $139.3M | −$28.0M | −$33.8M | −$46.5M |
| P/E ratio | 13.7 | 10.9 | 14.2 | 13.3 | 13.5 | 15.2 | 19.3 | 14.7 | 21.7 | 20.1 |
| Price / sales | 2.1 | 1.8 | 2.5 | 3.1 | 3.8 | 2.9 | 4.5 | 4.7 | 4.8 | 5.3 |
| Price / book | 0.9 | 1.0 | 1.3 | 1.4 | 1.4 | 1.0 | 1.5 | 1.6 | 1.5 | 1.7 |
| Price / free cash flow | 10.7 | 9.1 | 10.9 | 11.3 | 12.5 | 13.5 | 19.2 | 13.1 | 16.5 | 18.7 |
| Price / operating cash flow | 10.1 | 8.6 | 10.2 | 10.2 | 11.8 | 11.8 | 16.8 | 12.5 | 15.0 | 17.1 |
| EV / sales | 1.2 | 0.9 | 0.6 | -0.2 | -1.2 | -0.7 | 1.7 | -0.4 | -0.6 | -0.8 |
| EV / EBITDA | 5.7 | 4.2 | 2.5 | — | — | — | 5.5 | — | — | — |
| EV / free cash flow | 5.9 | 4.6 | 2.6 | — | — | — | 7.1 | — | — | — |
| Earnings yield | 7.3% | 9.1% | 7.1% | 7.5% | 7.4% | 6.6% | 5.2% | 6.8% | 4.6% | 5.0% |
| Free cash flow yield | 9.4% | 11.0% | 9.2% | 8.9% | 8.0% | 7.4% | 5.2% | 7.6% | 6.1% | 5.4% |
| Dividend yield | 5.1% | 5.5% | 4.6% | 4.5% | 3.9% | 4.9% | 3.7% | 3.6% | 3.8% | 3.5% |
| Shareholder yield (dividends + buybacks) | 5.1% | 5.7% | 6.5% | 7.1% | 5.7% | 5.0% | 3.8% | 3.6% | 3.8% | 4.7% |
| Share price at fiscal year-end | $20.17 | $18.60 | $22.43 | $22.86 | $26.12 | $19.84 | $28.25 | $26.43 | $24.00 | $26.20 |
| Per share | ||||||||||
| Revenue per share | $9.67 | $10.19 | $8.94 | $7.47 | $6.91 | $6.81 | $6.23 | $5.68 | $5.02 | $4.94 |
| Earnings per share | $1.47 | $1.70 | $1.58 | $1.72 | $1.94 | $1.30 | $1.46 | $1.80 | $1.11 | $1.31 |
| Operating cash flow per share | $2.01 | $2.16 | $2.20 | $2.24 | $2.21 | $1.68 | $1.69 | $2.11 | $1.60 | $1.53 |
| Free cash flow per share | $1.89 | $2.04 | $2.05 | $2.03 | $2.09 | $1.47 | $1.47 | $2.02 | $1.46 | $1.40 |
| Cash per share | $21.15 | $22.84 | $31.01 | $35.78 | $39.48 | $30.60 | $28.67 | $32.69 | $32.62 | $35.41 |
| Book value per share | $21.42 | $18.04 | $17.21 | $16.13 | $19.11 | $20.33 | $18.35 | $16.10 | $15.52 | $15.42 |
| Tangible book value per share | $16.73 | $14.46 | $13.61 | $12.55 | $15.57 | $16.51 | $16.12 | $15.12 | $14.53 | $14.43 |
| Dividends per share | $1.02 | $1.02 | $1.02 | $1.03 | $1.01 | $0.98 | $1.05 | $0.96 | $0.92 | $0.92 |
| Capex per share | $0.12 | $0.12 | $0.15 | $0.21 | $0.12 | $0.21 | $0.22 | $0.10 | $0.14 | $0.13 |
| Debt per share | $12.10 | $13.61 | $13.89 | $11.76 | $4.92 | $6.18 | $10.87 | $3.98 | $5.84 | $5.36 |
| Shares outstanding | 15.9M | 15.3M | 15.2M | 15.5M | 15.8M | 14.7M | 13.3M | 12.3M | 12.1M | 12.1M |
| Change in shares outstanding | +4.5% | +0.1% | −1.4% | −2.0% | +7.0% | +10.7% | +8.7% | +0.9% | +0.7% | −0.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.6% | 9.7% | 9.4% | 9.7% | 10.2% | 7.1% | 8.8% | 11.4% | 7.2% | 8.4% |
| Return on invested capital (ROIC) | 14.1% | 38.2% | — | — | — | — | — | — | — | — |
| Return on assets (ROA) | 0.8% | 1.0% | 1.0% | 1.1% | 1.3% | 1.0% | 1.3% | 1.7% | 1.1% | 1.3% |
| Return on tangible assets | 0.8% | 1.0% | 1.0% | 1.1% | 1.3% | 0.9% | 1.2% | 1.7% | 1.1% | 1.3% |
| Free cash flow margin | 19.5% | 20.0% | 23.0% | 27.1% | 30.3% | 21.6% | 23.6% | 35.5% | 29.0% | 28.4% |
| Income quality (OCF / net income) | 1.37 | 1.27 | 1.39 | 1.30 | 1.14 | 1.29 | 1.15 | 1.18 | 1.44 | 1.17 |
| Financial health | ||||||||||
| Total debt | $193.1M | $207.7M | $211.8M | $181.8M | $77.6M | $91.2M | $144.8M | $48.8M | $71.0M | $64.6M |
| Cash & short-term investments | $337.4M | $348.6M | $472.6M | $553.1M | $622.6M | $451.2M | $381.9M | $400.8M | $396.2M | $427.2M |
| Net debt | −$144.3M | −$140.9M | −$260.9M | −$371.3M | −$545.1M | −$360.0M | −$237.1M | −$352.0M | −$325.2M | −$362.6M |
| Debt / equity | 0.56 | 0.75 | 0.81 | 0.73 | 0.26 | 0.30 | 0.59 | 0.25 | 0.38 | 0.35 |
| Debt / assets | 0.06 | 0.08 | 0.08 | 0.07 | 0.03 | 0.04 | 0.09 | 0.04 | 0.06 | 0.05 |
| Net debt / EBITDA | −4.65 | −4.14 | −7.99 | −10.69 | −13.69 | −14.29 | −9.42 | −12.56 | −14.63 | −15.97 |
| Current ratio | 1.11 | 0.17 | 0.24 | 0.26 | 0.32 | 0.25 | 0.29 | 0.38 | 0.37 | 0.41 |
| Quick ratio | 1.11 | 0.17 | 0.21 | 0.29 | 0.39 | 0.31 | 0.32 | 0.38 | 0.37 | 0.41 |
| Interest coverage | 0.6 | 0.7 | 0.9 | 3.4 | 5.7 | 2.4 | 2.3 | 5.7 | 5.3 | 5.7 |
| Working capital | $4.6M | −$1.74B | −$1.57B | −$1.58B | −$1.32B | −$1.41B | −$964.1M | −$652.9M | −$679.1M | −$613.7M |
| Invested capital | $197.4M | $134.3M | $1.5M | −$122.0M | −$243.7M | −$60.2M | $7.4M | −$154.6M | −$136.8M | −$176.5M |
| Tangible asset value | $266.8M | $220.7M | $207.4M | $193.9M | $245.6M | $243.4M | $214.8M | $185.4M | $176.5M | $174.0M |
| Net current asset value | −$2.74B | −$1.98B | −$1.77B | −$1.64B | −$1.40B | −$1.48B | −$1.02B | −$688.8M | −$688.3M | −$625.1M |
| Graham number | $26.61 | $26.27 | $24.77 | $25.00 | $28.86 | $24.42 | $24.59 | $25.50 | $19.65 | $21.29 |
| Graham net-net per share | −$153.27 | −$129.74 | −$114.80 | −$108.51 | −$92.52 | −$104.47 | −$78.64 | −$56.20 | −$56.69 | −$51.81 |
| Capital allocation | ||||||||||
| Dividends paid | $16.3M | $15.5M | $15.6M | $15.9M | $16.0M | $14.5M | $14.0M | $11.7M | $11.1M | $11.1M |
| Share buybacks (net) | $218,000 | $629,000 | $6.8M | $9.3M | $7.6M | $163,000 | $189,000 | $0 | $0 | $3.7M |
| Dividend payout ratio | 69.5% | 59.8% | 64.5% | 59.6% | 52.3% | 75.3% | 72.0% | 53.4% | 83.0% | 70.5% |
| Dividends + buybacks / free cash flow | 54.9% | 51.9% | 71.5% | 80.5% | 71.4% | 67.6% | 72.6% | 47.5% | 63.0% | 87.6% |
| Capex / revenue | 1.2% | 1.2% | 1.7% | 2.8% | 1.7% | 3.1% | 3.5% | 1.7% | 2.8% | 2.6% |
| Capex / operating cash flow | 6.0% | 5.8% | 6.8% | 9.5% | 5.3% | 12.7% | 12.8% | 4.5% | 8.8% | 8.5% |
| Capex / depreciation | 0.81 | 0.87 | 1.05 | 1.38 | 0.88 | 1.58 | 1.64 | 0.67 | 1.04 | 0.99 |
| Stock-based compensation / revenue | 0.8% | 1.0% | 1.1% | 1.1% | 1.1% | 1.0% | 1.0% | 1.2% | 1.0% | 1.0% |
| SG&A / revenue | 34.5% | 28.9% | 32.4% | 36.2% | 34.5% | 32.9% | 33.6% | 34.3% | 36.8% | 36.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 24.1 | 21.0 | 23.8 | 25.1 | 26.0 | 24.2 | 19.7 | 21.0 | 24.0 | 23.7 |
| Days of inventory on hand | — | — | -89.0 | -2,023.0 | -4,271.9 | -2,222.4 | -745.4 | 115.7 | 146.2 | 127.8 |
| Days payables outstanding | — | — | — | 535.7 | 916.2 | 538.8 | 379.9 | 704.1 | 654.9 | 589.2 |
| Cash conversion cycle (days) | — | — | — | -2,533.6 | -5,162.0 | -2,737.1 | -1,105.5 | -567.5 | -484.8 | -437.8 |
| Receivables turnover | 15.17 | 17.40 | 15.31 | 14.54 | 14.03 | 15.11 | 18.50 | 17.38 | 15.23 | 15.43 |
| Payables turnover | — | — | — | 0.68 | 0.40 | 0.68 | 0.96 | 0.52 | 0.56 | 0.62 |
| Inventory turnover | — | — | — | — | — | — | — | 3.16 | 2.50 | 2.86 |
| Asset turnover | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 |
| Average receivables | $10.2M | $8.9M | $8.9M | $7.9M | $7.8M | $6.6M | $4.5M | $4.0M | $4.0M | $3.9M |
| Average payables | — | — | — | $24.6M | $25.7M | $19.9M | $11.6M | $10.0M | $8.5M | $7.9M |
| Average inventory | — | — | −$8.1M | −$93.0M | −$119.6M | −$82.2M | −$22.7M | $1.7M | $1.9M | $1.7M |
| Intangibles / total assets | 2.4% | 2.1% | 2.2% | 2.3% | 2.4% | 2.5% | 1.8% | 0.9% | 0.9% | 1.0% |
Computed from CZNC's annual financial statements (latest annual report filed March 6, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CZNC valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Citizens & Northern traded at 13.7 times earnings, against a 10-year median of 14.4. Based on the latest twelve months, the trailing P/E is 17.3 and the forward P/E is 11.2. Citizens & Northern earned a return on equity of 7.6% and a return on invested capital of 14.1% in fiscal 2025. It ended the year with $193.1 million of debt and $337.4 million in cash and short-term investments, a net cash position of $144.3 million. It returned $16.5 million to shareholders: $16.3 million in dividends and $0.2 million in share buybacks, 55% of free cash flow. The share count rose 32.2% from 12.1M to 15.9M over 9 years.
See the CZNC income statement, the CZNC chart for price history, or the CZNC stock overview for the latest quote and news.
CZNC key metrics FAQ
What is Citizens & Northern's P/E ratio?
Citizens & Northern's trailing P/E ratio is 17.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.2. At the end of fiscal 2025 it was 13.7, compared with a 10-year median of 14.4.
What is Citizens & Northern's EV/EBITDA?
Citizens & Northern's enterprise value was 5.7 times EBITDA at the end of fiscal 2025 (enterprise value $177.4 million, EBITDA $31.0 million).
What is Citizens & Northern's return on equity?
Citizens & Northern's return on equity (ROE) was 7.6% in fiscal 2025: net income of $23.4 million on average shareholders' equity of $308.5 million.
What is Citizens & Northern's ROIC?
Citizens & Northern's return on invested capital was 14.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Citizens & Northern have?
Citizens & Northern had total debt of $193.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.56 and more cash than debt.
What is Citizens & Northern's dividend yield?
Citizens & Northern's forward dividend yield is 4.39%. Citizens & Northern paid $16.3 million in dividends in fiscal 2025 ($1.02 per share), a payout ratio of 69.5%.
Does Citizens & Northern buy back its shares?
Yes. Citizens & Northern spent $0.2 million on net share repurchases in fiscal 2025 Shares outstanding changed +4.5% over the year, to 15.9M..
What is Citizens & Northern's free cash flow yield?
Citizens & Northern generated $30.1 million of free cash flow in fiscal 2025, a free cash flow yield of 9.4% on its market value at year-end ($321.7 million).
What is Citizens & Northern's current ratio?
Citizens & Northern's current ratio was 1.11 at the end of fiscal 2025: current assets were 1.11 times current liabilities.