A Business at a Glance
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FIRST COMMUNITY BANKSHARES INC /VA/
FCBC
$893M
Mkt Cap
$48.48
+2.58%
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a current P/E ratio of 17.3, compared to its historical median P/E of 10.2. The stock is currently considered Expensive based on its historical valuation range.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a 5-year average return on invested capital (ROIC) of 10.6%. This indicates solid capital allocation.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a market capitalization of $893M. It is classified as a small-cap stock.
Yes, FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) pays a dividend with a trailing twelve-month yield of 6.79%. The company also returns capital through share buybacks, with a buyback yield of 0.21%.
Based on historical P/E analysis, FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) appears expensive. The current P/E of 17.3 is 70% above its historical median of 10.2. The estimated fair value CAGR (P/E method) is 4.3%.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) operates in the State Commercial Banks industry, within the Financials sector.
First Community Bankshares, Inc. (the “Company”), a financial holding company, was founded in 1989 and reincorporated under the laws of the Commonwealth of Virginia. The Company’s principal executive office is located in Bluefield, Virginia. The Company provides banking products and services to individual and commercial customers through its wholly owned subsidiary First Community Bank (the “Bank”), a Virginia-chartered banking institution founded in 1874. The Bank offers wealth management and investment advice through its Trust Division and wholly owned subsidiary First Community Wealth Management. Unless the context suggests otherwise, the terms “First Community,” “Company,” “we,” “our,” and “us” in this Annual Report on Form 10-K refer to First Community Bankshares, Inc. and its subsidiaries as a consolidated entity. On January 23, 2026, the Company consummated its acquisition of Hometown Bancshares, Inc. ("Hometown"), the parent company of Union Bank, Inc.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 185M | 185M | 186M | 175M | 152M | 140M |
| Net Income | 49M | 49M | 52M | 48M | 47M | 51M |
| EPS | $2.65 | $2.65 | $2.80 | $2.72 | $2.82 | $2.94 |
| Free Cash Flow | 60M | 60M | 55M | 59M | 58M | 45M |
| ROIC | 9.7% | 9.5% | 10.0% | 10.4% | 11.0% | 12.0% |
| Gross Margin | 90.3% | 90.3% | 87.5% | 90.1% | 94.6% | 91.9% |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividends/Share | $3.29 | $4.31 | $1.20 | $1.16 | $1.12 | $1.04 |
| Operating Income | 6.2M | 6.2M | 6.5M | 5.7M | 5.1M | 5.8M |
| Operating Margin | 3.3% | 3.3% | 3.5% | 3.2% | 3.4% | 4.2% |
| ROE | 9.7% | 9.5% | 10.0% | 10.4% | 11.0% | 12.0% |
| Shares Outstanding | 18M | 18M | 18M | 18M | 17M | 17M |
| Metric | 2014 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 136M | 126M | 120M | 120M | 125M | 129M | 144M | 140M | 152M | 175M | 186M | 185M | 185M |
| Gross Margin | 88.5% | 89.2% | 90.9% | 90.9% | 92.1% | 92.9% | 87.4% | 91.9% | 94.6% | 90.1% | 87.5% | 90.3% | 90.3% |
| 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 | 41M | 40M | 39M | 36M | 37M | 37M | 44M | 44M | 47M | 50M | 52M | 56M | 56M |
| EBIT | 4.4M | 4.1M | 3.2M | 3.5M | 2.5M | 50M | 2.7M | 5.8M | 5.1M | 5.7M | 6.5M | 6.2M | 6.2M |
| Op. Margin | 3.2% | 3.3% | 2.7% | 2.9% | 2.0% | 38.7% | 1.9% | 4.2% | 3.4% | 3.2% | 3.5% | 3.3% | 3.3% |
| Net Income | 25M | 24M | 25M | 21M | 36M | 39M | 36M | 51M | 47M | 48M | 52M | 49M | 49M |
| Net Margin | 18.1% | 19.4% | 20.9% | 17.9% | 29.1% | 30.2% | 25.0% | 36.7% | 30.8% | 27.5% | 27.8% | 26.3% | 26.3% |
| Non-Recurring | 1.5M | -23K | 8.3M | 678K | 1.5M | 75K | 59K | -499K | 772K | 189K | 815K | -3K | -3K |
| Returns on Capital | |||||||||||||
| ROIC | 5.9% | 5.1% | 5.7% | 5.0% | 9.6% | 10.2% | 8.4% | 12.0% | 11.0% | 10.4% | 10.0% | 9.5% | 9.7% |
| ROE | 7.2% | 7.0% | 7.4% | 6.2% | 10.6% | 10.2% | 8.4% | 12.0% | 11.0% | 10.4% | 10.0% | 9.5% | 9.7% |
| ROA | 0.9% | 1.0% | 1.0% | 0.9% | 1.6% | 1.5% | 1.2% | 1.6% | 1.5% | 1.5% | 1.6% | 1.5% | 1.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 42M | 59M | 43M | 36M | 49M | 57M | 46M | 48M | 59M | 62M | 58M | 63M | 63M |
| Free Cash Flow | 41M | 57M | 42M | 34M | 47M | 48M | 43M | 45M | 58M | 59M | 55M | 60M | 60M |
| Owner Earnings | -11M | 54M | 39M | 32M | 45M | 52M | 40M | 42M | 54M | 57M | 53M | 58M | 58M |
| CapEx | 1.1M | 1.2M | 793K | 2.4M | 2.6M | 8.4M | 3.2M | 3.0M | 1.2M | 2.8M | 2.8M | 2.7M | 2.7M |
| Maint. CapEx | 52M | 4.1M | 3.6M | 3.6M | 2.9M | 3.4M | 4.5M | 4.5M | 4.2M | 4.0M | 4.3M | 3.7M | 3.7M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 5.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 52M | 4.1M | 3.6M | 3.6M | 2.9M | 3.4M | 4.5M | 4.5M | 4.2M | 4.0M | 4.3M | 3.7M | 3.7M |
| CapEx/OCF | 2.6% | 2.1% | 1.8% | N/A | 5.2% | 14.8% | 7.0% | 6.3% | 2.0% | 4.5% | 4.9% | N/A | 4.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 9.2M | 10.0M | 10M | 12M | 21M | 15M | 18M | 18M | 19M | 21M | 22M | 61M | 61M |
| Dividend Yield | 5.1% | 4.7% | 4.0% | N/A | 5.6% | 4.0% | 5.9% | 4.4% | 4.3% | 4.6% | 3.5% | N/A | 6.8% |
| Share Buybacks | 2.2M | 22M | 24M | 1.3M | 34M | 16M | 22M | 29M | 21M | 23M | 8.7M | 1.9M | 1.9M |
| Buyback Yield | 1.1% | 9.2% | 6.7% | 0.0% | 9.2% | 4.5% | 7.2% | 6.1% | 4.5% | 4.0% | 1.3% | 0.0% | 0.2% |
| Stock-Based Comp | 332K | 110K | 531K | 790K | 1.2M | 1.5M | 1.6M | 1.3M | 718K | 597K | 403K | 1.5M | 1.5M |
| Debt Repayment | 63M | 29M | 48K | 31M | 50M | 0 | 40K | 0 | 338K | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -96M | 65M | 16M | -248M | -228M | -386M | -540M | -754M | -471M | -397M | -547M | -645M | -512M |
| Cash & Equiv. | 238M | 52M | 76M | 158M | 77M | 217M | 457M | 677M | 171M | 116M | 377M | 512M | 512M |
| Long-Term Debt | 140M | 115M | 90M | 75M | 1.5M | 0 | 0 | 0 | 338K | 0 | 0 | N/A | N/A |
| Debt/Equity | 0.40 | 0.34 | 0.27 | 0.22 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 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 | 0.3 |
| Equity | 351M | 343M | 339M | 351M | 333M | 429M | 427M | 428M | 422M | 503M | 526M | 501M | 501M |
| Total Assets | 2.6B | 2.5B | 2.4B | 2.4B | 2.2B | 2.8B | 3.0B | 3.2B | 3.1B | 3.3B | 3.3B | 3.3B | 3.3B |
| Total Liabilities | 2.3B | 2.1B | 2.0B | 2.0B | 1.9B | 2.4B | 2.6B | 2.8B | 2.7B | 2.8B | 2.7B | 2.8B | 2.8B |
| Intangibles | 6.4M | 5.2M | 7.2M | 6.2M | 5.0M | 8.5M | 7.1M | 5.6M | 4.2M | 15M | 13M | 11M | 11M |
| Retained Earnings | 141M | 156M | 170M | 181M | 196M | 220M | 238M | 265M | 293M | 320M | 349M | 319M | 319M |
| 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 | 1.31 | 1.31 | 1.45 | 4.90 | 2.18 | 2.46 | 2.02 | 2.94 | 2.82 | 2.72 | 2.80 | 2.65 | 2.65 |
| Owner EPS | -0.58 | 2.91 | 2.25 | 7.30 | 2.73 | 3.28 | 2.23 | 2.44 | 3.27 | 3.24 | 2.87 | 3.12 | 3.12 |
| Book Value | 18.73 | 18.39 | 19.57 | 80.01 | 19.97 | 27.19 | 23.99 | 24.58 | 25.50 | 28.51 | 28.56 | 27.18 | 27.18 |
| Cash Flow/Share | 2.22 | 3.14 | 2.49 | 8.30 | 2.97 | 3.59 | 2.58 | 2.77 | 3.57 | 3.50 | 3.13 | 3.41 | 2.85 |
| Dividends/Share | 0.50 | 0.54 | 0.60 | 2.64 | 1.27 | 0.96 | 1.00 | 1.04 | 1.12 | 1.16 | 1.20 | 4.31 | 3.29 |
| Shares Out. | 18.8M | 18.7M | 17.3M | 4.4M | 16.7M | 15.8M | 17.8M | 17.4M | 16.5M | 17.7M | 18.4M | 18.4M | 18.4M |
| Valuation | |||||||||||||
| P/E Ratio | 8.0 | 9.6 | 14.2 | N/A | 10.3 | 9.3 | 8.5 | 9.2 | 10.1 | 12.1 | 13.3 | N/A | 18.3 |
| P/FCF | 4.8 | 4.1 | 8.4 | N/A | 8.0 | 7.5 | 7.1 | 10.4 | 8.1 | 9.8 | 12.5 | N/A | 14.9 |
| EV/EBIT | -5.5 | 47.9 | 92.2 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 61.8 |
| Price/Book | 0.6 | 0.7 | 1.1 | N/A | 1.1 | 0.8 | 0.7 | 1.1 | 1.1 | 1.2 | 1.3 | N/A | 1.8 |
| Price/Sales | 1.5 | 1.9 | 2.3 | N/A | 3.2 | 3.1 | 2.2 | 3.0 | 2.9 | 2.8 | 3.8 | N/A | 4.8 |
| FCF Yield | 20.7% | 24.5% | 11.9% | N/A | 12.5% | 13.3% | 14.0% | 9.6% | 12.3% | 10.2% | 8.0% | N/A | 6.7% |
| Market Cap | 196M | 234M | 356M | 0 | 375M | 363M | 304M | 470M | 471M | 581M | 687M | 0 | 893M |
| Avg. Price | 9.69 | 11.43 | 14.89 | 0.00 | 22.66 | 24.15 | 17.07 | 23.54 | 25.86 | 26.04 | 33.94 | 0.00 | 48.48 |
| Year-End Price | 10.43 | 12.53 | 20.57 | 0.00 | 22.50 | 22.98 | 17.10 | 27.01 | 28.45 | 32.92 | 37.30 | 0.00 | 48.48 |
FIRST COMMUNITY BANKSHARES INC /VA/ passes 5 of 9 quality checks, suggesting mixed fundamentals.
FIRST COMMUNITY BANKSHARES INC /VA/ trades at 17.3x trailing earnings, compared to its 15-year median P/E of 10.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 16.3x vs a median of 8.3x. The company's 5-year average ROIC is 10.6% with a gross margin of 90.9%. Total shareholder yield (dividends + buybacks) is 7.0%. At current prices, the estimated annualized return to fair value is +2.7%.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) reported annual revenue of $185 million in its most recent fiscal year, based on SEC EDGAR filings.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a net profit margin of 26.3%. This is a strong margin indicating high profitability.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) generated $60 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) reported earnings per share (EPS) of $2.65 in its most recent fiscal year.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a return on equity (ROE) of 9.5%. This indicates moderate shareholder returns.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a 5-year average gross margin of 90.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRST COMMUNITY BANKSHARES INC /VA/ (FCBC) has a book value per share of $27.18, based on its most recent annual SEC filing.
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