Farmers & Merchants Bancorp Inc
FMAO Nasdaq· Savings Institution, Federally Chartered
Last close · Oct 23, 2026
$36.54
KIRA · Stoqly’s AI analyst, in plain words
- Farmers & Merchants Bancorp Inc had $121M of revenue in fiscal 2025, up 19.6% on the year before. Over five years, revenue changed +9.7% a year on average.
- Farmers & Merchants Bancorp Inc made $33.3M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 7.5% a year.
- Farmers & Merchants Bancorp Inc returned $12.4M to shareholders in fiscal 2025, 36% of free cash flow.
- It earned 9.4% on shareholders’ money. Running costs took 63.3% of revenue (the efficiency ratio; lower is better).
Market cap
—
P/E
12.6x
Revenue
$121M
Net income
$33.3M
Return on equity
9.4%
Efficiency ratio
63.3%
Farmers & Merchants Bancorp Inc in 30 seconds · fiscal 2025
Are sales growing?
+19.6%
Yes. Sales grew 19.6% last year.
Does it make a profit?
27.4%
Yes. It keeps 27.4% of every sale as profit.
How lean are its costs?
63.3%
Average. Running costs take 63.3% of revenue.
How much does it earn on its capital?
9.4%
Fair. It earns 9.4% a year on shareholders’ money.
How is the share priced?
12.6x
One share costs 12.6 times its yearly profit per share.
What Farmers & Merchants Bancorp Inc does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 27, 2026
- Legal name
- FARMERS & MERCHANTS BANCORP INC
- CIK
- 0000792966
Farmers & Merchants Bancorp Inc · FMAO
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $87.1M | $103M | $97.3M | $102M | $121M |
| Revenue growth | 13.8% | 17.8% | −5.1% | 4.3% | 19.6% |
| Net interest income | $69.5M | $86.8M | $81.4M | $85.9M | $104M |
| Net income | $23.5M | $32.5M | $22.8M | $25.9M | $33.3M |
| Net margin | 27.0% | 31.7% | 23.4% | 25.5% | 27.4% |
| Diluted EPS | $2.01 | $2.46 | $1.67 | $1.90 | $2.43 |
| Cash | |||||
| Cash from operations | $34.7M | $40.7M | $22.1M | $32.5M | $36.7M |
| Capital expenditure | $2.0M | $2.6M | $10.9M | $1.9M | $1.8M |
| Free cash flow | $32.8M | $38.1M | $11.2M | $30.6M | $35.0M |
| FCF margin | 37.6% | 37.1% | 11.5% | 30.1% | 28.8% |
| Dividends paid | $7.7M | $10.3M | $11.3M | $11.9M | $12.1M |
| Share buybacks | $0.3M | $0.3M | $0.2M | $0.7M | $0.4M |
| Debt and strength | |||||
| Loans, net | $1.8B | $2.3B | $2.6B | — | — |
| Deposits | $2.2B | $2.5B | $2.6B | $2.7B | $2.7B |
| Shareholders' equity | $297M | $298M | $317M | $335M | $371M |
| Returns and quality | |||||
| Return on equity | 8.6% | 10.9% | 7.4% | 8.0% | 9.4% |
| Return on tangible equity | 10.8% | 15.2% | 9.8% | 10.2% | 11.6% |
| Efficiency ratio | 62.2% | 56.1% | 69.1% | 67.6% | 63.3% |
Insiders bought, 12 months
$0.1M
3 insiders
Insiders sold, 12 months
$6.3M
3 insiders
Of sales under plans
99%
$6.2M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Net income:
- Profit after all expenses, interest and tax.
- Efficiency ratio:
- Noninterest expense as a share of revenue. Lower is better for banks.
- Return on equity:
- Net income as a share of average shareholders' equity.
- Return on tangible equity:
- Net income to common over equity minus goodwill and intangibles.
- Diluted EPS:
- Net income per diluted share.
Farmers & Merchants Bancorp Inc · FMAO
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Return on equity and efficiency ratio
Loans and deposits
Dividends and buybacks
Diluted EPS
KIRA
At $36.54 a share, the company is worth —: 12.6 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0000792966). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.