First National (FXNC) Financial Statements & Analysis

First National (FXNC) Income Statement

First National reported revenue of $87.77M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 0.6% from $88.27M a year earlier. Net income was $17.70M, up 154.1% year over year, a net margin of 20.2%. Gross margin was 94.6% and operating margin 25.0%. In the most recent quarter, Q3 fiscal 2026 (ended Sep 30, 2026), revenue was $25.29M, up 13.3% from the same quarter a year earlier.

First National Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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First National Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	87.77	88.27	49.05	56.35	45.68	40.10	40.55	39.49	35.14
Cost of Revenue	29.14	31.72	20.46	5.67	1.65	6.38	5.34	4.11	2.49
Gross Profit	83.07	56.55	47.42	55.01	44.52	33.71	35.22	35.37	32.65
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	36.14	27.03	10.29	9.63	10.78	13.92	14.26	14.13	14.44
Operating Expenses	61.12	48.51	35.62	34.26	31.57	22.81	23.42	22.95	22.48
Operating Income	21.94	8.05	11.81	20.75	12.95	10.91	11.79	12.42	10.17
Other Income/Expense
Interest Income	99.24	76.12	57.61	49.30	37.06	32.75	32.79	31.05	27.57
Interest Expense	26.25	23.87	14.31	3.82	2.30	3.38	4.89	3.51	2.39
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	21.94	8.05	11.81	20.75	12.95	10.91	11.79	12.42	10.17
Income Tax Expense	4.24	1.08	2.18	3.95	2.59	2.05	2.24	2.29	3.73
Net Income	17.70	6.97	9.62	16.80	10.36	8.86	9.56	10.14	6.45
Net Income - Continuous Operations	17.70	6.97	9.62	16.80	10.36	8.86	9.56	10.14	6.45
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	26.47	10.45	1.62	1.52	1.41	12.37	13.43	14.23	12.18
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	1.77	2.40	0.02	1.52	0.03	1.47	1.64	1.81	2.01
Earnings Per Share
Basic EPS	2.00	1.00	2.00	3.00	2.00	2.00	2.00	2.00	1.00
Diluted EPS	2.00	1.00	2.00	3.00	2.00	2.00	2.00	2.00	1.00
Basic Shares Outstanding	8.99	6.97	6.27	6.25	5.55	4.88	4.96	4.95	4.94
Diluted Shares Outstanding	9.02	6.97	6.28	6.26	5.56	4.88	4.97	4.96	4.95

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About First National Financial Statements

What was First National's revenue in fiscal 2025?

First National reported revenue of $87.77M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 0.6% from $88.27M a year earlier.

Is First National profitable?

Yes. First National earned net income of $17.70M in fiscal 2025, a net margin of 20.2%. In fiscal 2024 it earned $6.97M.

What is First National's operating margin?

First National's operating income was $21.94M on revenue of $87.77M in fiscal 2025, an operating margin of 25.0%, compared with 9.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition