First Community Bankshares, Inc. (FCBC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+76.5%

$84.23

vs $47.73 price

Levered DCF

$85.62

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.33

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	12.68×	14.82×	13.9×	12.02×	11.33×	10.68×	12.56×	14.37×
P/B	1.23×	1.45×	1.33×	1.33×	1.35×	0.9×	1.14×	1.57×
P/S	3.33×	4.34×	4.03×	3.94×	4.35×	2.78×	4.15×	4.32×
EV / EBITDA	1.55×	9.48×	8.72×	7.55×	7.32×	6.23×	7.73×	10.4×
Gross margin	90.3%	86.8%	89.5%	94.2%	104.2%	86.9%	92.2%	91.9%
Operating margin	34.0%	37.3%	37.4%	42.3%	49.9%	33.4%	42.5%	37.3%
Net margin	26.3%	29.3%	29.0%	32.8%	38.4%	26.0%	33.1%	30.1%
Current ratio	0.73×	0.08×	0.14×	0.14×	0.05×	0.06×	0.1×	0.1×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0.09×
Interest coverage	3.52×	3.34×	6.54×	36.33×	23.46×	8.44×	9.03×	6.06×
Dividend yield	9.8%	2.9%	3.2%	3.3%	3.1%	4.7%	3.1%	4.0%
Payout ratio	124.2%	42.7%	43.9%	39.7%	35.3%	49.8%	38.8%	58.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.7%	9.8%	9.5%	11.1%	12.0%	8.4%	9.0%	10.9%
Return on invested capital	-122.0%	9.1%	8.8%	11.0%	11.9%	8.4%	9.0%	10.0%
Return on assets	1.5%	1.6%	1.5%	1.5%	1.6%	1.2%	1.4%	1.6%
Free cash flow yield	9.7%	7.2%	8.8%	10.3%	7.8%	11.1%	9.9%	9.0%
Earnings yield	7.9%	6.8%	7.2%	8.3%	8.8%	9.4%	8.0%	7.0%
Enterprise value	$106.7M	$684.5M	$589.7M	$496.7M	$530.5M	$323.9M	$419.3M	$510.1M
Net debt / EBITDA	-7.43×	-1.1×	-1.15×	-0.96×	-0.67×	-1.15×	-1.24×	-0.25×
Cash conversion cycle (days)	17	19	24	-1,436	2,342	-725	-1,526	-962