LCNB

MKT CAP:$230M

LCNB Corp.

Market Cap

$230M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$16.29+$0.10 (+0.62%)

Apr 24, 2026

Company Details

LCNB Corp. operates as the financial holding company for LCNB National Bank that provides banking services in Ohio. Its deposit products include checking accounts, demand deposits, savings accounts, NOW and money market deposits, as well as...

CEO

Eric J. Meilstrup

IPO Date

Oct 26, 1999

Website

www.lcnb.com

Key Metrics TTM

Revenue

$124M

-2.5% YoY

Net Income

$23M

EPS (Diluted)

$1.62

Free Cash Flow

$33M

Revenue / Share

$8.79

Gross Margin

72.5%

Operating Margin

22.5%

Net Margin

18.5%

FCF Margin

26.9%

P/S

1.9x

P/E

10.0x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$30M-1.4%EPS $0.31

FY 2025

Mar 11, 2026

$124M-0.9%EPS $1.63

Q4 2025

Mar 11, 2026

$31M-6.4%EPS $0.40

Q3 2025

Nov 5, 2025

$32M-2.4%EPS $0.49

Q2 2025

Aug 6, 2025

$31M+0.5%EPS $0.42

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$20M	$18M	$7M
Q3 22	$20M	$19M	$7M
Q4 22	$20M	$18M	$8M
Q1 23	$21M	$18M	$5M
Q2 23	$22M	$18M	$6M
Q3 23	$23M	$17M	$5M
Q4 23	$27M	$16M	-$529.0K
Q1 24	$29M	$18M	$2M
Q2 24	$31M	$19M	$944.0K
Q3 24	$33M	$21M	$5M
Q4 24	$33M	$22M	$7M
Q1 25	$31M	$21M	$6M
Q2 25	$31M	$23M	$7M
Q3 25	$32M	$24M	$8M
Q4 25	$31M	$22M	$7M
Q1 26	$30M	$21M	$5M

Valuation

Quarter	P/S	P/E
Q2 22	3.0x	11.2x
Q3 22	3.0x	10.8x
Q4 22	2.9x	10.4x
Q1 23	2.8x	10.6x
Q2 23	2.7x	11.0x
Q3 23	2.6x	11.9x
Q4 23	2.5x	18.2x
Q1 24	2.3x	22.2x
Q2 24	2.1x	34.8x
Q3 24	1.9x	32.5x
Q4 24	1.8x	17.1x
Q1 25	1.8x	14.2x
Q2 25	1.8x	10.9x
Q3 25	1.8x	9.8x
Q4 25	1.8x	10.0x
Q1 26	1.9x	10.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$5M	$5M
Q2 22	$7M	$7M
Q3 22	$7M	$7M
Q4 22	$7M	$7M
Q1 23	$2M	$2M
Q2 23	$5M	$4M
Q3 23	$5M	$5M
Q4 23	$8M	$8M
Q1 24	-$12M	-$13M
Q2 24	$54M	$53M
Q3 24	$11M	$10M
Q4 24	$40M	$40M
Q1 25	$2M	$2M
Q2 25	$5M	$5M
Q3 25	$14M	$14M
Q4 25	$13M	$12M

Capital Expenditures

Quarter	CapEx
Q1 22	$59.0K
Q2 22	$224.0K
Q3 22	$270.0K
Q4 22	$331.0K
Q1 23	$588.0K
Q2 23	$522.0K
Q3 23	$613.0K
Q4 23	$883.0K
Q1 24	$858.0K
Q2 24	$1M
Q3 24	$1M
Q4 24	$375.0K
Q1 25	$70.0K
Q2 25	$235.0K
Q3 25	$309.0K
Q4 25	$375.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-0.0%	-2.8%
Q3 22	+6.0%	+1.3%
Q4 22	+10.3%	+8.2%
Q1 23	+15.1%	+24.6%
Q2 23	+13.2%	+29.1%
Q3 23	+14.6%	+35.5%
Q4 23	+34.2%	+124.3%
Q1 24	+33.4%	+60.9%
Q2 24	+38.9%	+81.0%
Q3 24	+41.1%	+50.7%
Q4 24	+22.7%	-7.0%
Q1 25	+6.5%	-5.4%
Q2 25	+0.5%	-20.3%
Q3 25	-2.4%	-14.3%
Q4 25	-6.4%	-6.3%
Q1 26	-1.4%	-0.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$197.0K	1.1%
Q2 22	$107.0K	0.5%
Q3 22	$113.0K	0.6%
Q4 22	$114.0K	0.6%
Q1 23	$316.0K	1.5%
Q2 23	$82.0K	0.4%
Q3 23	$83.0K	0.4%
Q4 23	$82.0K	0.3%
Q1 24	$315.0K	1.1%
Q2 24	$92.0K	0.3%
Q3 24	$94.0K	0.3%
Q4 24	$87.0K	0.3%
Q1 25	$284.0K	0.9%
Q2 25	$101.0K	0.3%
Q3 25	$130.0K	0.4%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$7M	$368.0K
Q3 22	$7M	$215.0K
Q4 22	$7M	$339.0K
Q1 23	$8M	$192.0K
Q2 23	$7M	$320.0K
Q3 23	$7M	$223.0K
Q4 23	$8M	$366.0K
Q1 24	$9M	$174.0K
Q2 24	$9M	$210.0K
Q3 24	$10M	$320.0K
Q4 24	$9M	$343.0K
Q1 25	$11M	$315.0K
Q2 25	$9M	$281.0K
Q3 25	$9M	$336.0K
Q4 25	$10M	$291.0K
Q1 26	$11M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$32M	$301M	$333M
Q3 22	$29M	$290M	$320M
Q4 22	$23M	$290M	$313M
Q1 23	$32M	$293M	$325M
Q2 23	$26M	$281M	$307M
Q3 23	$43M	$275M	$318M
Q4 23	$40M	$277M	$316M
Q1 24	$33M	$263M	$296M
Q2 24	$35M	$261M	$296M
Q3 24	$39M	$263M	$302M
Q4 24	$36M	$99M	$135M
Q1 25	$38M	$94M	$132M
Q2 25	$50M	$253M	$303M
Q3 25	$36M	$95M	$131M
Q4 25	$18M	$232M	$251M
Q1 26	$23M	$0	$23M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	11M	-4.1%	-11.0%
Q3 22	11M	-0.5%	-9.4%
Q4 22	11M	-0.6%	-9.4%
Q1 23	11M	-0.2%	-5.3%
Q2 23	11M	-1.2%	-2.5%
Q3 23	11M	-0.2%	-2.2%
Q4 23	12M	+12.1%	+10.4%
Q1 24	13M	+5.9%	+17.2%
Q2 24	14M	+7.0%	+26.9%
Q3 24	14M	+0.5%	+27.8%
Q4 24	14M	+0.1%	+14.0%
Q1 25	14M	-0.4%	+7.2%
Q2 25	14M	+0.2%	+0.4%
Q3 25	14M	+0.1%	-0.0%
Q4 25	14M	+0.1%	-0.0%
Q1 26	14M	+0.1%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$64.3K	307
Q3 22	$66.1K	307
Q4 22	$64.7K	309
Q1 23	$69.6K	309
Q2 23	$72.3K	309
Q3 23	$75.2K	309
Q4 23	$77.7K	345
Q1 24	$83.2K	345
Q2 24	$90.0K	345
Q3 24	$95.1K	345
Q4 24	$95.0K	346
Q1 25	$88.3K	346
Q2 25	$90.1K	346
Q3 25	$92.5K	346
Q4 25	$93.9K	328
Q1 26	$91.8K	328

Revenue / Employee