A Business at a Glance
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CITIZENS & NORTHERN CORP
CZNC
$388M
Mkt Cap
$24.35
+4.69%
CITIZENS & NORTHERN CORP (CZNC) has a current P/E ratio of 13.9, compared to its historical median P/E of 11.3. The stock is currently considered Expensive based on its historical valuation range.
CITIZENS & NORTHERN CORP (CZNC) has a 5-year average return on invested capital (ROIC) of 9.1%. This is below average and may indicate limited pricing power.
CITIZENS & NORTHERN CORP (CZNC) has a market capitalization of $388M. It is classified as a small-cap stock.
Yes, CITIZENS & NORTHERN CORP (CZNC) pays a dividend with a trailing twelve-month yield of 4.20%.
Based on historical P/E analysis, CITIZENS & NORTHERN CORP (CZNC) appears expensive. The current P/E of 13.9 is 23% above its historical median of 11.3. The estimated fair value CAGR (P/E method) is 1.6%.
CITIZENS & NORTHERN CORP (CZNC) operates in the State Commercial Banks industry, within the Financials sector.
CITIZENS & NORTHERN CORP (CZNC) reported annual revenue of $170 million in its most recent fiscal year, based on SEC EDGAR filings.
CITIZENS & NORTHERN CORP operates in the State Commercial Banks industry, Financials sector. Full business description from SEC filing not yet available.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 170M | 170M | 157M | 138M | 117M | 110M |
| Net Income | 23M | 23M | 26M | 24M | 26M | 30M |
| EPS | $1.46 | $1.46 | $1.69 | $1.57 | $1.71 | $1.92 |
| Free Cash Flow | 30M | 30M | 31M | 31M | 31M | 33M |
| ROIC | 6.7% | 7.4% | 9.4% | 9.3% | 9.6% | 10.1% |
| Gross Margin | 73.2% | 73.2% | 73.7% | 82.3% | 85.7% | 90.7% |
| Debt/Equity | 0.10 | 0.10 | 0.05 | 0.15 | 0.32 | 0.05 |
| Dividends/Share | $1.02 | $1.02 | $1.02 | $1.02 | $1.03 | $1.01 |
| Operating Income | 5.6M | 5.6M | 5.2M | 4.6M | 3.7M | 3.6M |
| Operating Margin | 3.3% | 3.3% | 3.3% | 3.3% | 3.2% | 3.2% |
| ROE | 6.8% | 7.5% | 9.6% | 9.4% | 9.6% | 10.1% |
| Shares Outstanding | 16M | 16M | 15M | 15M | 15M | 16M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 63M | 63M | 61M | 62M | 71M | 84M | 102M | 110M | 117M | 138M | 157M | 170M | 170M |
| Gross Margin | 91.0% | 91.3% | 91.9% | 92.4% | 92.7% | 86.8% | 86.7% | 90.7% | 85.7% | 82.3% | 73.7% | 73.2% | 73.2% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 34M | 36M | 35M | 37M | 39M | 50M | 65M | 62M | 68M | 74M | 74M | 88M | 88M |
| EBIT | 1.3M | 1.3M | 1.3M | 1.3M | 2.2M | 1.9M | 3.4M | 3.6M | 3.7M | 4.6M | 5.2M | 5.6M | 5.6M |
| Op. Margin | 2.0% | 2.0% | 2.1% | 2.0% | 3.0% | 2.2% | 3.3% | 3.2% | 3.2% | 3.3% | 3.3% | 3.3% | 3.3% |
| Net Income | 17M | 16M | 16M | 13M | 22M | 19M | 19M | 30M | 26M | 24M | 26M | 23M | 23M |
| Net Margin | 27.3% | 26.1% | 25.8% | 21.5% | 30.9% | 23.1% | 18.8% | 27.5% | 22.5% | 17.4% | 16.4% | 13.7% | 13.7% |
| Non-Recurring | 8K | -1K | 3K | 0 | 0 | 0 | 0 | 24K | 20K | -3.0M | 0 | 38K | 38K |
| Returns on Capital | |||||||||||||
| ROIC | 6.6% | 6.7% | 7.0% | 6.3% | 10.2% | 8.1% | 7.0% | 10.1% | 9.6% | 9.3% | 9.4% | 7.4% | 6.7% |
| ROE | 9.3% | 8.7% | 8.4% | 7.1% | 11.4% | 8.8% | 7.0% | 10.1% | 9.6% | 9.4% | 9.6% | 7.5% | 6.8% |
| ROA | 1.4% | 1.3% | 1.3% | 1.1% | 1.7% | 1.3% | 1.0% | 1.3% | 1.1% | 1.0% | 1.0% | 0.8% | 0.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 22M | 20M | 19M | 19M | 26M | 22M | 25M | 35M | 35M | 34M | 33M | 32M | 32M |
| Free Cash Flow | 21M | 19M | 17M | 18M | 25M | 20M | 22M | 33M | 31M | 31M | 31M | 30M | 30M |
| Owner Earnings | 20M | 17M | 16M | 17M | 23M | 20M | 22M | 32M | 31M | 30M | 29M | 28M | 28M |
| CapEx | 801K | 1.0M | 1.6M | 1.7M | 1.2M | 2.9M | 3.1M | 1.9M | 3.3M | 2.3M | 1.9M | 1.9M | 1.9M |
| Maint. CapEx | 1.9M | 1.9M | 1.6M | 1.6M | 1.8M | 1.7M | 2.0M | 2.1M | 2.4M | 2.2M | 2.2M | 2.4M | 2.4M |
| Growth CapEx | 0 | 0 | 0 | 58K | 0 | 1.1M | 1.2M | 0 | 899K | 114K | 0 | 0 | 0 |
| D&A | 1.9M | 1.9M | 1.6M | 1.6M | 1.8M | 1.7M | 2.0M | 2.1M | 2.4M | 2.2M | 2.2M | 2.4M | 2.4M |
| CapEx/OCF | 3.6% | 5.3% | 8.5% | 8.8% | 4.5% | 12.8% | 12.7% | 5.3% | 9.5% | 6.8% | 5.8% | N/A | 6.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 11M | 11M | 11M | 11M | 12M | 14M | 14M | 16M | 16M | 16M | 16M | 16M | 16M |
| Dividend Yield | 8.5% | 7.9% | 7.0% | 6.0% | 5.6% | 5.8% | 6.7% | 5.4% | 5.1% | 5.9% | 5.9% | N/A | 4.2% |
| Share Buybacks | 4.0M | 4.4M | 3.7M | 0 | 0 | 189K | 163K | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 2.7% | 2.9% | 1.9% | N/A | N/A | 0.1% | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 565K | 606K | 578K | 627K | 855K | 798K | 1.1M | 1.2M | 1.3M | 1.5M | 1.5M | 1.3M | 1.3M |
| Debt Repayment | 278K | 37M | 313K | 37M | 6.3M | 38M | 55M | 18M | 78M | 46M | 31M | 20M | 20M |
| Balance Sheet | |||||||||||||
| Net Debt | -461M | -359M | -358M | -322M | -347M | -291M | -424M | -599M | 33M | -15M | -109M | -9.6M | -9.6M |
| Cash & Equiv. | 32M | 33M | 29M | 37M | 33M | 31M | 96M | 96M | 48M | 53M | 124M | 45M | 45M |
| Long-Term Debt | 73M | 39M | 38M | 9.2M | 36M | 1.0M | 1.3M | 399K | 896K | 4.2M | 7.2M | 6.5M | 6.5M |
| Debt/Equity | 0.42 | 0.49 | 0.35 | 0.38 | 0.25 | 0.36 | 0.07 | 0.05 | 0.32 | 0.15 | 0.05 | 0.10 | 0.10 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.1 |
| Equity | 188M | 187M | 186M | 188M | 197M | 244M | 300M | 301M | 249M | 262M | 275M | 342M | 342M |
| Total Assets | 1.2B | 1.2B | 1.2B | 1.3B | 1.3B | 1.7B | 2.2B | 2.3B | 2.5B | 2.5B | 2.6B | 3.1B | 3.1B |
| Total Liabilities | 1.1B | 1.0B | 1.1B | 1.1B | 1.1B | 1.4B | 1.9B | 2.0B | 2.2B | 2.3B | 2.3B | 2.8B | 2.8B |
| Intangibles | 52K | 30K | 17K | 12K | 9K | 1.2M | 3.9M | 3.3M | 2.9M | 2.5M | 2.1M | 12M | 12M |
| Retained Earnings | 106M | 109M | 113M | 114M | 123M | 126M | 130M | 143M | 152M | 157M | 166M | 171M | 171M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.38 | 1.35 | 1.30 | 1.10 | 1.79 | 1.46 | 1.30 | 1.92 | 1.71 | 1.57 | 1.69 | 1.46 | 1.46 |
| Owner EPS | 1.60 | 1.42 | 1.36 | 1.41 | 1.90 | 1.50 | 1.48 | 2.00 | 2.01 | 1.96 | 1.93 | 1.78 | 1.78 |
| Book Value | 15.21 | 15.45 | 15.42 | 15.51 | 16.13 | 18.39 | 20.40 | 19.09 | 16.16 | 17.19 | 18.07 | 21.46 | 21.46 |
| Cash Flow/Share | 1.80 | 1.62 | 1.53 | 1.59 | 2.12 | 1.69 | 1.69 | 2.21 | 2.24 | 2.20 | 2.17 | 2.01 | 1.61 |
| Dividends/Share | 1.04 | 1.04 | 0.92 | 0.92 | 0.96 | 1.06 | 0.98 | 1.01 | 1.03 | 1.02 | 1.02 | 1.02 | 1.02 |
| Shares Out. | 12.4M | 12.1M | 12.1M | 12.2M | 12.2M | 13.3M | 14.7M | 15.8M | 15.4M | 15.3M | 15.2M | 15.9M | 15.9M |
| Valuation | |||||||||||||
| P/E Ratio | 8.7 | 9.3 | 12.7 | 14.7 | 9.8 | 13.5 | 11.3 | 10.7 | 11.1 | 12.7 | 10.2 | N/A | 16.7 |
| P/FCF | 6.9 | 8.2 | 11.7 | 11.1 | 8.7 | 13.4 | 10.0 | 9.8 | 9.3 | 9.8 | 8.5 | N/A | 12.9 |
| EV/EBIT | 179.9 | 148.6 | 203.1 | 179.1 | 88.5 | 167.6 | 40.4 | 66.7 | 90.6 | 65.0 | 29.9 | N/A | 67.1 |
| Price/Book | 0.8 | 0.8 | 1.1 | 1.0 | 1.1 | 1.1 | 0.7 | 1.1 | 1.2 | 1.2 | 1.0 | N/A | 1.1 |
| Price/Sales | 2.3 | 2.5 | 2.8 | 3.2 | 3.2 | 3.3 | 2.4 | 2.9 | 2.9 | 2.6 | 2.4 | N/A | 2.3 |
| FCF Yield | 14.4% | 12.2% | 8.5% | 8.9% | 11.5% | 7.4% | 10.0% | 10.1% | 10.6% | 10.2% | 11.7% | N/A | 7.8% |
| Market Cap | 149M | 153M | 200M | 198M | 215M | 263M | 217M | 327M | 295M | 308M | 265M | 0 | 388M |
| Avg. Price | 10.78 | 11.74 | 13.08 | 15.41 | 17.17 | 18.32 | 14.65 | 18.91 | 19.99 | 17.40 | 17.21 | 0.00 | 24.35 |
| Year-End Price | 12.02 | 12.56 | 16.48 | 16.18 | 17.50 | 19.70 | 14.70 | 20.55 | 18.97 | 20.01 | 17.27 | 0.00 | 24.35 |
CITIZENS & NORTHERN CORP passes 3 of 9 quality checks, indicating weak fundamentals.
CITIZENS & NORTHERN CORP trades at 13.9x trailing earnings, compared to its 15-year median P/E of 11.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 13.7x vs a median of 9.8x. The company's 5-year average ROIC is 9.1% with a gross margin of 81.1%. Total shareholder yield (dividends) is 4.2%. At current prices, the estimated annualized return to fair value is +2.8%.
CITIZENS & NORTHERN CORP (CZNC) has a net profit margin of 13.7%. This is a healthy margin.
CITIZENS & NORTHERN CORP (CZNC) generated $30 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CITIZENS & NORTHERN CORP (CZNC) has a debt-to-equity ratio of 0.10. This indicates a conservatively financed balance sheet.
CITIZENS & NORTHERN CORP (CZNC) reported earnings per share (EPS) of $1.46 in its most recent fiscal year.
CITIZENS & NORTHERN CORP (CZNC) has a return on equity (ROE) of 7.5%. This indicates moderate shareholder returns.
CITIZENS & NORTHERN CORP (CZNC) has a 5-year average gross margin of 81.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for CITIZENS & NORTHERN CORP (CZNC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CITIZENS & NORTHERN CORP (CZNC) has a book value per share of $21.46, based on its most recent annual SEC filing.