Farmers and Merchants Bancshares, Inc. (FMFG)

FMFG Income Statement

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

Year	2023	2022	2021	2020	2019
Revenue	32.91	28.63	27.86	22.82	20.18
Revenue Growth (YoY)	14.96%	2.74%	22.07%	13.11%	141.59%
Cost of Revenue	0	2.36	0	2.06	19.52
Gross Profit	32.91	26.27	27.86	20.76	0.66
Selling, General & Admin	10.44	10.66	9.95	10.34	8.5
Other Operating Expenses	-3.74	-3.92	-3.47	-2.9	-2.66
Operating Expenses	3.74	3.92	3.47	2.9	2.66
Operating Income	8.2	10.31	11.22	6.84	5.78
Interest Income	31.32	26.27	25.68	0	0
Interest Expense	1.89	0.76	0.76	0.22	0.05
Other Expense / Income	29.19	25.25	25.56	3.45	0.13
Pretax Income	8.44	10.58	10.58	3.17	5.6
Income Tax	2.02	2.49	2.43	0.49	1.04
Net Income	6.42	8.09	8.15	2.68	4.56
Net Income Growth	-20.66%	-0.73%	203.86%	-41.19%	138.91%
Shares Outstanding (Basic)	3	3	3	3	3
Shares Outstanding (Diluted)	3	3	3	3	3
Shares Change	1.30%	0.94%	1.14%	1.05%	15.94%
EPS (Basic)	2.08	2.66	2.70	0.90	1.54
EPS (Diluted)	2.08	2.66	2.70	0.90	1.54
EPS Growth	-21.80%	-1.48%	200.00%	-41.56%	105.33%
Free Cash Flow	5.04	4.25	9.83	3.75	5.13
Free Cash Flow Per Share	1.63	1.39	3.26	1.26	1.74
Gross Margin	100.00%	91.77%	100.00%	90.97%	3.29%
Operating Margin	24.90%	36.01%	40.28%	29.98%	28.64%
Profit Margin	19.50%	28.26%	29.25%	11.75%	22.60%
Free Cash Flow Margin	15.32%	14.84%	35.28%	16.44%	25.41%
Effective Tax Rate	23.91%	23.50%	22.99%	15.37%	18.56%
EBITDA	0.24	0.27	-0.64	-3.67	-0.18
EBITDA Margin	0.73%	0.93%	-2.30%	-16.09%	-0.88%
Depreciation & Amortization	0.5	0.5	0.49	0.42	0.34
EBIT	-0.26	-0.23	-1.13	-4.09	-0.52
EBIT Margin	-0.80%	-0.80%	-4.05%	-17.92%	-2.59%

Sources: The data provider is Financial Modeling Prep and the numbers are sourced from SEC filings.