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LCNB CORPORATION (LCNB) Stock Fundamental Analysis

NASDAQ:LCNB - Nasdaq - US50181P1003 - Common Stock - Currency: USD

13.86  -0.19 (-1.35%)

After market: 13.86 0 (0%)

Fundamental Rating

5

LCNB gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 395 industry peers in the Banks industry. The financial health of LCNB is average, but there are quite some concerns on its profitability. LCNB may be a bit undervalued, certainly considering the very reasonable score on growth LCNB also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

LCNB had positive earnings in the past year.
LCNB had a positive operating cash flow in the past year.
In the past 5 years LCNB has always been profitable.
LCNB had a positive operating cash flow in each of the past 5 years.
LCNB Yearly Net Income VS EBIT VS OCF VS FCFLCNB Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

1.2 Ratios

LCNB's Return On Assets of 0.70% is on the low side compared to the rest of the industry. LCNB is outperformed by 61.52% of its industry peers.
LCNB has a worse Return On Equity (6.21%) than 68.86% of its industry peers.
Industry RankSector Rank
ROA 0.7%
ROE 6.21%
ROIC N/A
ROA(3y)0.76%
ROA(5y)0.9%
ROE(3y)7.21%
ROE(5y)7.74%
ROIC(3y)N/A
ROIC(5y)N/A
LCNB Yearly ROA, ROE, ROICLCNB Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

LCNB's Profit Margin of 18.94% is on the low side compared to the rest of the industry. LCNB is outperformed by 66.58% of its industry peers.
LCNB's Profit Margin has declined in the last couple of years.
LCNB does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 18.94%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-17.48%
PM growth 5Y-10.76%
GM growth 3YN/A
GM growth 5YN/A
LCNB Yearly Profit, Operating, Gross MarginsLCNB Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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4

2. Health

2.1 Basic Checks

LCNB does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for LCNB has been increased compared to 1 year ago.
Compared to 5 years ago, LCNB has more shares outstanding
Compared to 1 year ago, LCNB has an improved debt to assets ratio.
LCNB Yearly Shares OutstandingLCNB Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M 10M
LCNB Yearly Total Debt VS Total AssetsLCNB Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

LCNB has a debt to FCF ratio of 0.09. This is a very positive value and a sign of high solvency as it would only need 0.09 years to pay back of all of its debts.
The Debt to FCF ratio of LCNB (0.09) is better than 88.61% of its industry peers.
A Debt/Equity ratio of 0.04 indicates that LCNB is not too dependend on debt financing.
LCNB has a Debt to Equity ratio of 0.04. This is amongst the best in the industry. LCNB outperforms 83.04% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF 0.09
Altman-Z N/A
ROIC/WACCN/A
WACC15.48%
LCNB Yearly LT Debt VS Equity VS FCFLCNB Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
LCNB Yearly Current Assets VS Current LiabilitesLCNB Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 11.65% over the past year.
LCNB shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -7.73% yearly.
LCNB shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 17.80%.
The Revenue has been growing slightly by 3.99% on average over the past years.
EPS 1Y (TTM)11.65%
EPS 3Y-16.4%
EPS 5Y-7.73%
EPS Q2Q%120%
Revenue 1Y (TTM)17.8%
Revenue growth 3Y3.45%
Revenue growth 5Y3.99%
Sales Q2Q%54.13%

3.2 Future

The Earnings Per Share is expected to grow by 32.12% on average over the next years. This is a very strong growth
LCNB is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.44% yearly.
EPS Next Y60.36%
EPS Next 2Y32.12%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year12.24%
Revenue Next 2Y9.44%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
LCNB Yearly Revenue VS EstimatesLCNB Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M
LCNB Yearly EPS VS EstimatesLCNB Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

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7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 12.05, which indicates a correct valuation of LCNB.
The rest of the industry has a similar Price/Earnings ratio as LCNB.
LCNB is valuated cheaply when we compare the Price/Earnings ratio to 26.32, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 8.19, which indicates a very decent valuation of LCNB.
69.11% of the companies in the same industry are more expensive than LCNB, based on the Price/Forward Earnings ratio.
LCNB's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.19.
Industry RankSector Rank
PE 12.05
Fwd PE 8.19
LCNB Price Earnings VS Forward Price EarningsLCNB Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, LCNB is valued cheaply inside the industry as 99.24% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 1.88
EV/EBITDA N/A
LCNB Per share dataLCNB EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

LCNB's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as LCNB's earnings are expected to grow with 32.12% in the coming years.
PEG (NY)0.2
PEG (5Y)N/A
EPS Next 2Y32.12%
EPS Next 3YN/A

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8

5. Dividend

5.1 Amount

LCNB has a Yearly Dividend Yield of 6.03%, which is a nice return.
Compared to an average industry Dividend Yield of 3.46, LCNB pays a better dividend. On top of this LCNB pays more dividend than 92.41% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, LCNB pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.03%

5.2 History

On average, the dividend of LCNB grows each year by 6.10%, which is quite nice.
LCNB has been paying a dividend for at least 10 years, so it has a reliable track record.
LCNB has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)6.1%
Div Incr Years7
Div Non Decr Years24
LCNB Yearly Dividends per shareLCNB Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

LCNB pays out 75.93% of its income as dividend. This is not a sustainable payout ratio.
LCNB's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP75.93%
EPS Next 2Y32.12%
EPS Next 3YN/A
LCNB Yearly Income VS Free CF VS DividendLCNB Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
LCNB Dividend Payout.LCNB Dividend Payout, showing the Payout Ratio.LCNB Dividend Payout.PayoutRetained Earnings

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LCNB CORPORATION

NASDAQ:LCNB (6/17/2025, 8:00:02 PM)

After market: 13.86 0 (0%)

13.86

-0.19 (-1.35%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-22 2025-04-22/amc
Earnings (Next)07-22 2025-07-22/bmo
Inst Owners38.04%
Inst Owner Change-1.14%
Ins Owners6.02%
Ins Owner Change3.66%
Market Cap196.40M
Analysts45.71
Price Target15.81 (14.07%)
Short Float %0.66%
Short Ratio4.64
Dividend
Industry RankSector Rank
Dividend Yield 6.03%
Yearly Dividend0.89
Dividend Growth(5Y)6.1%
DP75.93%
Div Incr Years7
Div Non Decr Years24
Ex-Date06-02 2025-06-02 (0.22)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)12.97%
Min EPS beat(2)-8.86%
Max EPS beat(2)34.8%
EPS beat(4)2
Avg EPS beat(4)-5.84%
Min EPS beat(4)-61.87%
Max EPS beat(4)34.8%
EPS beat(8)3
Avg EPS beat(8)-19.12%
EPS beat(12)6
Avg EPS beat(12)-11.44%
EPS beat(16)9
Avg EPS beat(16)-8%
Revenue beat(2)2
Avg Revenue beat(2)37.98%
Min Revenue beat(2)32.89%
Max Revenue beat(2)43.08%
Revenue beat(4)2
Avg Revenue beat(4)14.5%
Min Revenue beat(4)-13.26%
Max Revenue beat(4)43.08%
Revenue beat(8)2
Avg Revenue beat(8)3.82%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-6.06%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.6%
EPS NY rev (1m)0%
EPS NY rev (3m)-4.39%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.6%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.52%
Valuation
Industry RankSector Rank
PE 12.05
Fwd PE 8.19
P/S 2.31
P/FCF 1.88
P/OCF 1.83
P/B 0.76
P/tB 1.24
EV/EBITDA N/A
EPS(TTM)1.15
EY8.3%
EPS(NY)1.69
Fwd EY12.22%
FCF(TTM)7.35
FCFY53.06%
OCF(TTM)7.57
OCFY54.59%
SpS5.99
BVpS18.28
TBVpS11.15
PEG (NY)0.2
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.7%
ROE 6.21%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 18.94%
GM N/A
FCFM 122.74%
ROA(3y)0.76%
ROA(5y)0.9%
ROE(3y)7.21%
ROE(5y)7.74%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-17.48%
PM growth 5Y-10.76%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.04
Debt/FCF 0.09
Debt/EBITDA N/A
Cap/Depr 485.48%
Cap/Sales 3.55%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 648.01%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC15.48%
ROIC/WACCN/A
Cap/Depr(3y)250.91%
Cap/Depr(5y)190.44%
Cap/Sales(3y)3.16%
Cap/Sales(5y)3.2%
Profit Quality(3y)317.89%
Profit Quality(5y)216.81%
High Growth Momentum
Growth
EPS 1Y (TTM)11.65%
EPS 3Y-16.4%
EPS 5Y-7.73%
EPS Q2Q%120%
EPS Next Y60.36%
EPS Next 2Y32.12%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)17.8%
Revenue growth 3Y3.45%
Revenue growth 5Y3.99%
Sales Q2Q%54.13%
Revenue Next Year12.24%
Revenue Next 2Y9.44%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y379.74%
FCF growth 3Y77.76%
FCF growth 5Y37.67%
OCF growth 1Y363.51%
OCF growth 3Y73.46%
OCF growth 5Y33.45%