Farmers & Merchants Bancorp, Inc. (FMAO)

FMAO Income Statement

Financials in millions USD. Fiscal year is January - December.

Year	2023	2022	2021	2020	2019
Revenue	95.69	97.72	83.66	69.58	64.23
Revenue Growth (YoY)	-2.08%	16.81%	20.24%	8.33%	27.45%
Gross Profit	95.69	97.72	83.66	69.58	64.23
Selling, General & Admin	63.15	53.84	48.67	40.68	38.52
Other Operating Expenses	4.05	3.66	5.06	3.69	2.95
Operating Expenses	67.2	57.51	53.73	44.37	41.47
Operating Income	28.49	40.22	29.93	25.21	22.76
Other Expense / Income	0.14	-0.26	0.43	0.01	-
Pretax Income	28.35	40.48	29.5	25.21	22.76
Income Tax	5.57	7.96	6	5.11	4.36
Net Income	22.79	32.52	23.5	20.1	18.4
Net Income Growth	-29.92%	38.39%	16.92%	9.20%	23.10%
Shares Outstanding (Basic)	14	14	13	11	11
Shares Change	0.44%	4.14%	17.09%	0.19%	19.94%
EPS (Basic)	1.67	2.46	2.01	1.80	1.66
EPS (Diluted)	1.67	2.46	2.01	1.80	1.66
EPS Growth	-32.11%	22.39%	11.67%	8.43%	3.11%
Free Cash Flow	11.22	38.07	32.78	24.16	20.42
Free Cash Flow Per Share	0.82	2.80	2.51	2.17	1.83
Dividend Per Share	0.850	0.812	0.710	0.660	0.610
Dividend Growth	4.68%	14.37%	7.58%	8.20%	8.93%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	29.77%	41.15%	35.78%	36.23%	35.44%
Profit Margin	23.81%	33.27%	28.08%	28.88%	28.65%
Free Cash Flow Margin	11.72%	38.96%	39.18%	34.72%	31.79%
Effective Tax Rate	19.63%	19.67%	20.35%	20.28%	19.15%
EBITDA	34.13	44.49	34.49	29.5	26.28
EBITDA Margin	35.66%	45.53%	41.22%	42.40%	40.92%
Depreciation & Amortization	5.77	4.02	4.99	4.3	3.52
EBIT	28.35	40.48	29.5	25.21	22.76
EBIT Margin	29.63%	41.42%	35.26%	36.22%	35.44%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).