Estados financieros detallados de National Bankshares, Inc. (NKSH): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
National Bankshares, Inc. registró ingresos de $85.3M en el último ejercicio fiscal, con un CAGR de 5 años del 10.4%. El beneficio neto alcanzó $15.8M, con un CAGR a 5 años del -0.3%.
Márgenes de los últimos 12 meses: margen bruto 63.4%, margen operativo 17.5%, margen neto 28.1%. El flujo de caja libre creció a un CAGR del 4.8% en 5 años.
Al precio actual de $42.41, NKSH cotiza a un P/E de 13.44 y un ROE del 10.92%. La capitalización bursátil es de $270M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $48.0M | $48.9M | $51.0M | $53.9M | $52.0M | $53.4M | $62.5M | $68.2M | $79.1M | $85.3M |
| Coste de Ventas | $5.8M | $4.3M | $5.0M | $7.5M | $7.8M | $2.7M | $3.8M | $20.3M | $35.0M | $29.7M |
| Beneficio Bruto | $42.2M | $44.6M | $46.0M | $46.4M | $44.1M | $50.7M | $58.7M | $47.9M | $44.1M | $55.6M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $13.3M | $14.1M | $14.9M | $15.1M | $14.8M | $16.2M | $17.0M | $18.1M | $20.0M | $23.9M |
| Gastos Operativos | $23.3M | $24.2M | $27.3M | $25.8M | $25.0M | $26.1M | $27.0M | $29.2M | $35.0M | $36.4M |
| Beneficio Operativo | $18.9M | $20.4M | $18.7M | $20.7M | $19.2M | $24.6M | $31.8M | $18.7M | $9.1M | $19.2M |
| EBITDA | $20.0M | $21.3M | $19.5M | $21.4M | $19.9M | $25.3M | $32.4M | $19.4M | $10.3M | $20.6M |
| Gastos por Intereses | $4.2M | $4.1M | $5.0M | $7.4M | $5.8M | $3.1M | $3.1M | $21.6M | $33.7M | $29.8M |
| Beneficio Antes de Impuestos | $18.9M | $20.4M | $18.7M | $20.7M | $19.2M | $24.6M | $31.8M | $18.7M | $9.1M | $19.2M |
| Impuestos | $4.0M | $6.3M | $2.6M | $3.2M | $3.1M | $4.3M | $5.8M | $3.0M | $1.5M | $3.3M |
| Beneficio Neto | $14.9M | $14.1M | $16.2M | $17.5M | $16.1M | $20.4M | $25.9M | $15.7M | $7.6M | $15.8M |
| BPA | $2.15 | $2.03 | $2.32 | $2.65 | $2.48 | $3.28 | $4.33 | $2.66 | $1.24 | $2.49 |
| BPA Diluido | $2.15 | $2.03 | $2.32 | $2.65 | $2.48 | $3.28 | $4.33 | $2.66 | $1.24 | $2.49 |
| Acciones en Circulación (Diluidas) | $7.0M | $7.0M | $7.0M | $6.6M | $6.5M | $6.2M | $6.0M | $5.9M | $6.2M | $6.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $21.4M | $22.2M | $21.6M | $6.9M |
| Beneficio Bruto | $13.8M | $15.9M | $15.4M | $671000 |
| Beneficio Operativo | $5.4M | $7.2M | $6.0M | -$6.0M |
| EBITDA | $5.8M | $7.6M | $6.4M | -$6.4M |
| Beneficio Neto | $4.4M | $5.9M | $5.0M | $5.0M |
| BPA | $0.69 | $0.92 | $0.78 | $0.79 |
| BPA Diluido | $0.69 | $0.92 | $0.78 | $0.79 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $94.2M | $64.2M | $56.4M | $87.2M | $133.9M | $138.8M | $71.4M | $86.6M | $107.8M | $59.2M |
| Inversiones a Corto | $304.3M | $331.4M | $425.0M | $435.3M | $546.7M | $686.1M | $656.9M | $618.6M | $33.7M | $23.5M |
| Cuentas por Cobrar | $5.3M | $5.3M | $5.2M | $4.3M | $5.0M | $5.1M | $6.0M | $6.3M | $6.5M | $6.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $403.8M | $400.8M | $486.5M | $526.7M | $685.6M | $830.0M | $734.3M | $711.5M | $148.0M | $89.3M |
| Inmovilizado Material | $8.9M | $8.2M | $8.6M | $8.9M | $10.0M | $9.7M | $10.4M | $11.1M | $16.9M | $20.3M |
| Fondo de Comercio | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M | $5.8M | $10.7M | $10.7M |
| Activos Intangibles | $118000 | $50000 | 0 | 0 | 0 | 0 | 0 | 0 | $1.9M | $1.5M |
| Activos Totales | $1.23B | $1.26B | $1.26B | $1.32B | $1.52B | $1.70B | $1.68B | $1.66B | $1.81B | $1.82B |
| Cuentas por Pagar | $55000 | $62000 | $89000 | $144000 | $56000 | $48000 | $106000 | $1.4M | $1.5M | $1.6M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $1.04B | $1.06B | $1.05B | $1.12B | $1.30B | $1.49B | $1.54B | $1.51B | $1.65B | $1.63B |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $1.06B | $1.07B | $1.07B | $1.14B | $1.32B | $1.51B | $1.55B | $1.51B | $1.66B | $1.64B |
| Reservas | $178.2M | $185.9M | $193.6M | $184.1M | $189.5M | $188.2M | $199.1M | $198.0M | $196.3M | $202.6M |
| Patrimonio Neto | $178.3M | $184.9M | $190.2M | $183.7M | $200.6M | $191.8M | $122.7M | $140.5M | $156.4M | $184.9M |
| Deuda Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda Neta | -$398.5M | -$395.5M | -$481.4M | -$522.4M | -$680.6M | -$824.9M | -$728.3M | -$705.2M | -$141.5M | -$82.7M |
| Capital Circulante | -$639.7M | -$659.0M | -$565.5M | -$593.2M | -$611.6M | -$664.7M | -$808.5M | -$793.9M | -$1.50B | -$1.54B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $42.3M | $59.2M | $62.2M | $8.9M |
| Activos Totales | $1.80B | $1.82B | $1.83B | $1.83B |
| Pasivos Totales | $1.62B | $1.64B | $1.64B | $1.64B |
| Patrimonio Neto | $179.2M | $184.9M | $187.4M | $192.2M |
| Deuda Total | 0 | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $14.9M | $14.1M | $16.2M | $17.5M | $16.1M | $20.4M | $25.9M | $15.7M | $7.6M | $15.8M |
| Amortizaciones | $1.1M | $873000 | $816000 | $739000 | $708000 | $636000 | $609000 | $754000 | $1.1M | $2.2M |
| Compensación en Acciones | $150000 | 0 | 0 | 0 | 0 | $360000 | 0 | $42000 | $128000 | $193000 |
| Cambio en Capital Circulante | $905000 | -$2.5M | $3.5M | $2.1M | -$760000 | $1.1M | $1.2M | -$3.5M | -$2.0M | $1.1M |
| Flujo de Caja Operativo | $17.5M | $11.0M | $19.8M | $18.8M | $13.8M | $22.9M | $29.5M | $15.5M | $9.4M | $17.9M |
| Inversiones (CapEx) | -$634000 | -$261000 | -$1.2M | -$1.0M | -$1.8M | -$323000 | -$1.3M | -$1.5M | -$3.3M | -$2.7M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $6.9M | 0 |
| Recompra de Acciones | 0 | 0 | 0 | -$18.5M | -$1.7M | -$13.4M | -$6.3M | 0 | 0 | 0 |
| Dividendos Pagados | -$8.1M | -$8.1M | -$8.4M | -$9.0M | -$9.0M | -$8.8M | -$8.9M | -$14.8M | -$9.3M | -$9.6M |
| Flujo de Caja Libre | $16.9M | $10.7M | $18.6M | $17.8M | $12.0M | $22.6M | $28.2M | $14.0M | $6.2M | $15.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $6.1M | $7.1M | $3.3M | $3.5M |
| Inversiones (CapEx) | $1.5M | -$432000 | -$229000 | $229000 |
| Flujo de Caja Libre | $7.6M | $6.7M | $3.1M | $3.7M |
| Dividendos Pagados | 0 | -$5.0M | 0 | -$4.8M |
| Compensación en Acciones | $49000 | $50000 | $62000 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +1.8% | +4.2% | +5.9% | -3.7% | +2.8% | +17.0% | +9.1% | +16.0% | +7.9% |
| Crecimiento Beneficio Neto (anual) | | -5.7% | +14.6% | +8.1% | -8.0% | +26.8% | +27.2% | -39.5% | -51.4% | +107.6% |
| Crecimiento BPA (anual) | | -5.6% | +14.3% | +14.2% | -6.4% | +32.3% | +32.0% | -38.6% | -53.4% | +100.8% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | -5.4% | -1.5% | -4.2% | -3.5% | -1.7% | +4.6% | +3.2% |
| Crecimiento FCF (anual) | | -36.5% | +73.1% | -4.2% | -32.8% | +88.5% | +25.2% | -50.3% | -55.9% | +145.1% |
| Margen Bruto | 87.9% | 91.2% | 90.3% | 86.1% | 84.9% | 94.9% | 93.9% | 70.2% | 55.8% | 65.1% |
| Margen Operativo | 39.3% | 41.7% | 36.7% | 38.3% | 36.9% | 46.1% | 50.8% | 27.4% | 11.5% | 22.5% |
| Margen EBITDA | 41.5% | 43.5% | 38.3% | 39.7% | 38.2% | 47.3% | 51.8% | 28.5% | 13.0% | 24.2% |
| Margen Neto | 31.1% | 28.8% | 31.7% | 32.4% | 30.9% | 38.2% | 41.5% | 23.0% | 9.6% | 18.6% |
| Margen FCF | 35.2% | 22.0% | 36.5% | 33.0% | 23.0% | 42.2% | 45.2% | 20.6% | 7.8% | 17.8% |
| Tasa Impositiva Efectiva | 20.9% | 30.9% | 13.7% | 15.5% | 16.1% | 17.3% | 18.4% | 16.0% | 16.4% | 17.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $2.43 | $1.54 | $2.67 | $2.70 | $1.85 | $3.63 | $4.72 | $2.38 | $1.00 | $2.38 |
| Dividendo por Acción | $1.16 | $1.17 | $1.21 | $1.37 | $1.39 | $1.42 | $1.49 | $2.51 | $1.50 | $1.51 |
| Acciones en Circulación (Básicas) | $7.0M | $7.0M | $7.0M | $6.6M | $6.5M | $6.2M | $6.0M | $5.9M | $6.2M | $6.4M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Rentabilidad sobre capital | 10.92% |
| Rentabilidad sobre capital invertido | -1.11% |
| Rentabilidad sobre activos | 1.11% |
| Margen bruto | 63.39% |
| Margen operativo | 17.47% |
| Margen neto | 28.14% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 0.41 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 20.21 | 22.39 | 15.70 | 16.95 | 12.62 | 10.93 | 9.31 | 12.16 | 23.15 | 13.47 |
| P/VC | 1.70 | 1.71 | 1.33 | 1.61 | 1.01 | 1.16 | 1.97 | 1.36 | 1.13 | 1.15 |
| P/V | 6.29 | 6.47 | 4.97 | 5.48 | 3.91 | 4.17 | 3.86 | 2.79 | 2.24 | 2.50 |
| Margen Bruto | 87.9% | 91.2% | 90.3% | 86.1% | 84.9% | 94.9% | 93.9% | 70.2% | 55.8% | 65.1% |
| Margen Operativo | 39.3% | 41.7% | 36.7% | 38.3% | 36.9% | 46.1% | 50.8% | 27.4% | 11.5% | 22.5% |
| Margen Neto | 31.1% | 28.8% | 31.7% | 32.4% | 30.9% | 38.2% | 41.5% | 23.0% | 9.6% | 18.6% |