Citizens National Corporation (CZNL) fair value: what the stock is really worth
We calculate from audited financials what Citizens National Corporation is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Citizens National Corporation operates as the bank holding company for Citizens Bank of Kentucky that provides various banking products and services in Eastern Kentucky, the United States.
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Citizens National Corporation operates as the bank holding company for Citizens Bank of Kentucky that provides various banking products and services in Eastern Kentucky, the United States. It offers deposit products, including checking and savings accounts, term certificate, individual retirement accounts, and certificates of deposits; lending products comprising residential mortgage, commercial, installment, consumer, home equity, and business loans; healthcare, online, and mobile banking services; merchant services; remote deposit capture services; and debit and credit cards, as well as cash, treasury, and wealth management services. The company was founded in 1909 and is based in Paintsville, Kentucky.
Stock analysis
Citizens National Corporation (CZNL) currently trades at $87.00, while our model-based Fair Value estimate is $78.06, implying the stock looks roughly 11.5% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $75.96 per share, and 1 of the 4 models we run sit above the $87.00 price.
Bear case: the Asset-Based group reads lowest at $55.46, and 3 of the 4 models stay below the price. Evidence for this calculation is high.
Scenario range: $58.55 (bear) to $97.58 (bull), the price of $87.00 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Citizens National Corporation reported revenue of $33.5M in FY2025 versus $26.0M in FY2021, a compound +6.6%/yr. Reported net income was $5.7M in FY2025, compounding +1.6%/yr from FY2021.
Key figures
Market cap $85.0M · P/E ratio 14.9 · P/S ratio 2.54 · EPS (TTM) $5.84 · Dividend yield 1.1% · Net margin 17.0% · Return on equity 7.7% · Return on assets (EBIT) 0.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 96% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −31% fair-value upside, at −10%, CZNL screens cheaper than that median.
Fair Value models
Bear $58.55Fair Value $78.06Bull $97.58
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($3.46 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.64/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+3.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.3%
Revenue growth 22 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+2.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.7%
Dividend (yield on the price)1.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.2% vs 4%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 20%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.1%
Yearly growth needed for the next five years to justify today's price.
Compare Citizens National Corporation with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1075 stocks
Beats the industry median on 3/14 measures
Overall it trails its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−10% · Above median
Profitability
Return on equity (TTM)8% · Below median
Return on assets1% · Below median
Net margin (TTM)23% · Below median
Operating margin (TTM)29% · Below median
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)1.1% · Bottom 25%
Balance sheet
Debt / equity0.41× · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Citizens National Corporation Fair Value". https://www.fairvalue-calculator.com/stock/CZNL
Frequently asked questions
Is Citizens National Corporation (CZNL) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $78.06 versus a price of $87.00, about −10% upside (overvalued).
What is the fair value of CZNL?
Our model-based fair value for Citizens National Corporation is $78.06 (as of Sep 13, 2026), built from audited fundamentals. The current price: $87.00.
What is the quality score of CZNL?
Citizens National Corporation has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Citizens National Corporation (CZNL)?
Our model-based price target is the fair value of $78.06 (as of Sep 13, 2026) from 4 valuation models. Cautious scenario $58.55, optimistic scenario $97.58. It is a calculation from audited fundamentals, not an analyst target.
What is the Citizens National Corporation stock forecast for 2026?
Our models put fair value at $78.06, about −10% upside versus a price of $87.00 (overvalued). Cautious scenario $58.55, optimistic scenario $97.58. The calculation is refreshed regularly with new filings.
What is the revenue of Citizens National Corporation (CZNL)?
Citizens National Corporation reported trailing-twelve-month revenue of about $24.6M (latest available figure, as of Sep 13, 2026).
Does Citizens National Corporation pay a dividend?
Citizens National Corporation currently shows a dividend yield of about 1.15% relative to its recent price (as of Sep 13, 2026).
What growth is priced into Citizens National Corporation (CZNL)?
For today's price to be fair in a discounted-cash-flow model, Citizens National Corporation would have to grow free cash flow by +13.1 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +4.3 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of CZNL use?
Our models discount Citizens National Corporation at 11.2 %: a base by market capitalisation (micro), damped by beta 0.28, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Citizens National Corporation that is +13.1 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Citizens National Corporation (CZNL) delivered so far?
Over the past 5 years revenue at Citizens National Corporation grew +4.3 % a year. The price currently implies +13.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Citizens National Corporation (CZNL) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Citizens National Corporation (+13.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Citizens National Corporation (CZNL)?
The free-cash-flow yield on the price is 6.50 %: that much free cash flow Citizens National Corporation produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Citizens National Corporation (CZNL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Citizens National Corporation it is $78.06 per share (as of Sep 13, 2026), against a price of $87.00. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Citizens National Corporation stock overvalued or undervalued in 2026?
As of Sep 13, 2026, CZNL trades above its calculated fair value: price $87.00, fair value $78.06, a gap of about −10% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CZNL?
No. The price is what the market pays today ($87.00); the fair value is what the company's own numbers justify ($78.06). For Citizens National Corporation the two are $8.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Citizens National Corporation worth?
The market values Citizens National Corporation at about $85.0M (market capitalisation, as of Sep 13, 2026). Per share that is $87.00; our models calculate a fair value of $78.06 per share.
What do the bullish and bearish scenarios say about CZNL?
Our models span a range for Citizens National Corporation: cautious scenario $58.55, base $78.06, optimistic $97.58 per share (as of Sep 13, 2026, price $87.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CZNL?
Citizens National Corporation trades at a price-to-earnings ratio of 14.9 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $78.06 is built from several models across several years. Other multiples: P/B 1.1, P/S 3.5, EV/EBITDA 13.9.
How solid is the balance sheet of Citizens National Corporation (CZNL)?
Balance-sheet figures for Citizens National Corporation (as of Sep 13, 2026): return on equity 7.7%, debt of 0.41 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is CZNL from its 52-week high?
Citizens National Corporation trades at $87.00, about 3% below its 52-week high of $89.86 and 96% above the low of $44.49 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $78.06 is for.
Which stocks are comparable to Citizens National Corporation?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Citizens National Corporation stock attractive at the current price?
The data as of Sep 13, 2026: price $87.00, calculated fair value $78.06 (−10%), Quality Score 58/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CZNL calculated?
We run Citizens National Corporation through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $78.06, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5 % above its aggregate fair value. Citizens National Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Citizens National Corporation (CZNL)?
The closing price on Sep 17, 2026 was $87.00. Our model-based fair value is $78.06, about −10% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Citizens National Corporation right now?
For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Citizens National Corporation (CZNL) come from?
Earnings per share at Citizens National Corporation grew +2.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.8 %, EBIT margin −1.9 %, tax rate −0.7 %, residual (interest, one-offs) +0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Citizens National Corporation
How large is the market capitalisation of Citizens National Corporation (CZNL)?
The market capitalisation of Citizens National Corporation is $85.0M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Citizens National Corporation (CZNL)?
The price-to-sales ratio of Citizens National Corporation is 2.54 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Citizens National Corporation (CZNL)?
Earnings per share at Citizens National Corporation are $5.84 (price ÷ EPS = P/E 14.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Citizens National Corporation (CZNL)?
The dividend yield of Citizens National Corporation is 1.1% (payout 17.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Citizens National Corporation (CZNL)?
The net margin of Citizens National Corporation is 17.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Citizens National Corporation (CZNL)?
The return on equity (ROE) of Citizens National Corporation is 7.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Citizens National Corporation (CZNL)?
On an EBIT basis the return on assets of Citizens National Corporation is 0.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Citizens National Corporation (CZNL)?
The operating margin of Citizens National Corporation is 29.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much net debt does Citizens National Corporation (CZNL) carry?
The net debt of Citizens National Corporation is $973K (fiscal year 2025, ≈ 0.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 13, 2026