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Side-by-side financial comparison of CSP INC (CSPI) and LCNB CORP (LCNB). Click either name above to swap in a different company.
LCNB CORP is the larger business by last-quarter revenue ($23.9M vs $12.0M, roughly 2.0× CSP INC). LCNB CORP runs the higher net margin — 23.7% vs 0.8%, a 23.0% gap on every dollar of revenue. On growth, LCNB CORP posted the faster year-over-year revenue change (5.1% vs -23.2%). LCNB CORP produced more free cash flow last quarter ($33.4M vs $-3.0M). Over the past eight quarters, LCNB CORP's revenue compounded faster (15.7% CAGR vs -6.3%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
LCNB Corp is a United States-based financial holding company that operates through its national bank subsidiary, providing a full suite of retail and commercial banking products and services including deposit accounts, various loan products, wealth management, and insurance solutions primarily to individual consumers, small and medium-sized enterprises and local community organizations across regional markets in Ohio.
CSPI vs LCNB — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $23.9M |
| Net Profit | $91.0K | $5.7M |
| Gross Margin | 39.3% | — |
| Operating Margin | -0.9% | 29.2% |
| Net Margin | 0.8% | 23.7% |
| Revenue YoY | -23.2% | 5.1% |
| Net Profit YoY | -80.7% | -7.6% |
| EPS (diluted) | $0.01 | $0.40 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $12.0M | $23.9M | ||
| Q3 25 | $14.5M | $23.8M | ||
| Q2 25 | $15.4M | $22.8M | ||
| Q1 25 | $13.1M | $21.5M | ||
| Q4 24 | $15.7M | $22.7M | ||
| Q3 24 | $13.0M | $21.4M | ||
| Q2 24 | $13.1M | $19.3M | ||
| Q1 24 | $13.7M | $17.8M |
| Q4 25 | $91.0K | $5.7M | ||
| Q3 25 | $-191.0K | $6.9M | ||
| Q2 25 | $-264.0K | $5.9M | ||
| Q1 25 | $-108.0K | $4.6M | ||
| Q4 24 | $472.0K | $6.1M | ||
| Q3 24 | $-1.7M | $4.5M | ||
| Q2 24 | $-185.0K | $925.0K | ||
| Q1 24 | $1.6M | $1.9M |
| Q4 25 | 39.3% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 32.0% | — | ||
| Q4 24 | 29.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 35.0% | — | ||
| Q1 24 | 47.3% | — |
| Q4 25 | -0.9% | 29.2% | ||
| Q3 25 | -3.7% | 35.6% | ||
| Q2 25 | -7.9% | 31.6% | ||
| Q1 25 | -7.6% | 25.6% | ||
| Q4 24 | -2.3% | 32.9% | ||
| Q3 24 | -15.7% | 24.9% | ||
| Q2 24 | -5.5% | 4.9% | ||
| Q1 24 | 9.0% | 12.5% |
| Q4 25 | 0.8% | 23.7% | ||
| Q3 25 | -1.3% | 29.1% | ||
| Q2 25 | -1.7% | 26.0% | ||
| Q1 25 | -0.8% | 21.4% | ||
| Q4 24 | 3.0% | 27.0% | ||
| Q3 24 | -12.7% | 21.2% | ||
| Q2 24 | -1.4% | 4.8% | ||
| Q1 24 | 11.6% | 10.7% |
| Q4 25 | $0.01 | $0.40 | ||
| Q3 25 | $-0.02 | $0.49 | ||
| Q2 25 | $-0.03 | $0.41 | ||
| Q1 25 | $-0.01 | $0.33 | ||
| Q4 24 | $0.05 | $0.44 | ||
| Q3 24 | $-0.17 | $0.31 | ||
| Q2 24 | $-0.02 | $0.07 | ||
| Q1 24 | $0.16 | $0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $21.6M |
| Total DebtLower is stronger | — | $104.4M |
| Stockholders' EquityBook value | $44.8M | $273.9M |
| Total Assets | $69.2M | $2.2B |
| Debt / EquityLower = less leverage | — | 0.38× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $21.6M | ||
| Q3 25 | $27.4M | $35.9M | ||
| Q2 25 | $26.3M | $49.8M | ||
| Q1 25 | $29.5M | $37.7M | ||
| Q4 24 | $30.7M | $35.7M | ||
| Q3 24 | $30.6M | $39.4M | ||
| Q2 24 | $28.9M | $34.9M | ||
| Q1 24 | $27.1M | $33.0M |
| Q4 25 | — | $104.4M | ||
| Q3 25 | — | $104.7M | ||
| Q2 25 | — | $105.0M | ||
| Q1 25 | — | $104.6M | ||
| Q4 24 | — | $155.2M | ||
| Q3 24 | — | $155.7M | ||
| Q2 24 | — | $162.2M | ||
| Q1 24 | — | $162.6M |
| Q4 25 | $44.8M | $273.9M | ||
| Q3 25 | $44.6M | $269.9M | ||
| Q2 25 | $47.5M | $263.5M | ||
| Q1 25 | $47.5M | $258.7M | ||
| Q4 24 | $47.5M | $253.0M | ||
| Q3 24 | $47.3M | $253.2M | ||
| Q2 24 | $48.1M | $245.2M | ||
| Q1 24 | $48.2M | $233.7M |
| Q4 25 | $69.2M | $2.2B | ||
| Q3 25 | $71.2M | $2.2B | ||
| Q2 25 | $66.8M | $2.3B | ||
| Q1 25 | $67.1M | $2.3B | ||
| Q4 24 | $67.5M | $2.3B | ||
| Q3 24 | $69.4M | $2.3B | ||
| Q2 24 | $66.8M | $2.4B | ||
| Q1 24 | $64.2M | $2.3B |
| Q4 25 | — | 0.38× | ||
| Q3 25 | — | 0.39× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 0.61× | ||
| Q2 24 | — | 0.66× | ||
| Q1 24 | — | 0.70× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $34.4M |
| Free Cash FlowOCF − Capex | $-3.0M | $33.4M |
| FCF MarginFCF / Revenue | -25.1% | 140.2% |
| Capex IntensityCapex / Revenue | 0.9% | 4.0% |
| Cash ConversionOCF / Net Profit | -32.04× | 6.08× |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | $54.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $34.4M | ||
| Q3 25 | $1.9M | $14.0M | ||
| Q2 25 | $-3.3M | $5.5M | ||
| Q1 25 | $1.9M | $2.2M | ||
| Q4 24 | $1.7M | $93.2M | ||
| Q3 24 | $-1.5M | $11.9M | ||
| Q2 24 | $2.4M | $54.9M | ||
| Q1 24 | $1.7M | $-11.9M |
| Q4 25 | $-3.0M | $33.4M | ||
| Q3 25 | $1.7M | $13.7M | ||
| Q2 25 | $-3.3M | $5.2M | ||
| Q1 25 | $1.9M | $2.1M | ||
| Q4 24 | $1.7M | $89.4M | ||
| Q3 24 | $-1.5M | $10.5M | ||
| Q2 24 | $2.4M | $53.8M | ||
| Q1 24 | $1.6M | $-12.8M |
| Q4 25 | -25.1% | 140.2% | ||
| Q3 25 | 11.5% | 57.4% | ||
| Q2 25 | -21.7% | 23.0% | ||
| Q1 25 | 14.5% | 10.0% | ||
| Q4 24 | 10.8% | 394.0% | ||
| Q3 24 | -11.7% | 49.0% | ||
| Q2 24 | 17.9% | 278.6% | ||
| Q1 24 | 11.9% | -71.8% |
| Q4 25 | 0.9% | 4.0% | ||
| Q3 25 | 1.6% | 1.3% | ||
| Q2 25 | 0.4% | 1.0% | ||
| Q1 25 | 0.1% | 0.3% | ||
| Q4 24 | 0.3% | 16.7% | ||
| Q3 24 | 0.1% | 6.7% | ||
| Q2 24 | 0.3% | 5.9% | ||
| Q1 24 | 0.1% | 4.8% |
| Q4 25 | -32.04× | 6.08× | ||
| Q3 25 | — | 2.02× | ||
| Q2 25 | — | 0.92× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | 3.69× | 15.23× | ||
| Q3 24 | — | 2.63× | ||
| Q2 24 | — | 59.35× | ||
| Q1 24 | 1.04× | -6.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
LCNB
Segment breakdown not available.
