Filing Flows › National Bankshares (NKSH) › Q4 2025
National Bankshares (NKSH) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 27, 2026
National Bankshares (NKSH) reported revenue of $15.3M for the fourth quarter 2025 (Q4 2025), +25% from a year earlier and +7% from the quarter before. Operating margin was 47.4%, net earnings $5.9M (38.5% of revenue).
National Bankshares, Q4 2025: revenue $15.3M (+25% year over year), operating margin 47.4%, net earnings $5.9M, operating cash flow $7.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.3M | +7% | +25% |
| Operating profit | $7.2M | +34% | +96% |
| Net earnings | $5.9M | +33% | +91% |
| Operating cash flow | $7.1M | +17% | +32% |
| Free cash flow | $6.7M | +26% | +50% |
What changed
Revenue was $15.3M in Q4 2025, up 25% year over year and up 7% from the previous quarter.
Operating profit was $7.2M, a 47.4% margin (up 17.2 points year over year). Of the extra revenue versus Q4 2024, 117% reached operating profit, above the 30% margin then. Total costs fell 6% while revenue rose 25%. Net earnings were $5.9M, up 91% year over year. The effective tax rate was 18.7%.
Operating cash flow was $7.1M (up 32% year over year), 121% of net earnings. Non-cash charges added back $396K of depreciation and amortization and $50K of share-based compensation. Working capital and other items added $815K. Capital expenditures of $432K left free cash flow of $6.7M.
Questions
What was National Bankshares' revenue in the fourth quarter 2025?
National Bankshares (NKSH) reported revenue of $15.3M for the fourth quarter 2025 (Q4 2025), +25% from a year earlier and +7% from the quarter before.
Was National Bankshares profitable in the fourth quarter 2025?
Operating profit was $7.2M (47.4% of revenue) and net earnings $5.9M.