Farmers & Merchants Bancorp, Inc. (FMAO)

NASDAQ: FMAO · Real-Time Price · USD

33.89

-0.06 (-0.18%)

Sep 1, 2026, 4:00 PM EDT - Market closed

FMAO Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	129	119.38	101.19	95.69	97.72	83.66
Revenue Growth	18.75%	17.97%	5.74%	-2.08%	16.81%	20.98%
Net Income	39.53	32.9	25.43	22.54	32.23	23.3
Earnings Per Share	2.91	2.43	1.90	1.67	2.46	2.01
EPS Growth	34.77%	28.02%	13.49%	-32.11%	22.39%	11.67%

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	156.91	99.22	178.83	144.94	88.85	191.74
Total Debt	218.62	307.32	315.47	334.59	226.28	127.8
Net Cash (Debt)	-61.72	-208.11	-136.64	-189.65	-137.43	63.93
Net Cash Growth	-	-	-	-	-	-51.66%
Net Cash Per Share	-4.54	-15.35	-10.18	-14.06	-10.50	5.53

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	43.08	36.74	32.47	22.15	40.67	34.74
Capital Expenditures	-1.53	-1.77	-1.87	-10.93	-2.6	-1.97
Free Cash Flow	41.54	34.97	30.6	11.22	38.07	32.78
Free Cash Flow Growth	33.17%	14.28%	172.83%	-70.53%	16.15%	35.66%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Profit Margin	30.64%	27.56%	25.13%	23.55%	32.98%	27.86%
FCF Margin	32.21%	29.29%	30.24%	11.72%	38.96%	39.18%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.920	0.900	0.882	0.850	0.800	0.710
Dividend Per Share Growth	3.67%	1.98%	3.82%	6.25%	12.68%	7.58%
Dividend Yield	2.71%	3.70%	3.16%	3.74%	3.34%	2.52%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	11.65	10.21	15.69	14.90	11.38	18.28
Forward PE	10.52	9.53	15.75	18.44	9.98	15.49
P/FCF Ratio	11.10	9.61	13.04	29.93	9.64	13.00
PS Ratio	3.58	2.81	3.94	3.51	3.75	5.09