NASDAQ · Banks - Regional

Farmers & Merchants Bancorp, Inc. (FMAO) Stock

$36.54 +1.81% NASDAQ: FMAO Financial Services

Valuation

MetricValue
Price$36.54
Market Cap$503.27M
P/E Ratio12.20
P/B Ratio1.27
P/S Ratio2.51
EPS (TTM)$3.41
52-Week High$36.55
52-Week Low$22.77
Dividend Yield2.82%

Financials & Margins

MetricValue
ROE10.72%
ROA1.14%
ROCE1.47%
Gross Margin22.22%
Operating Margin22.75%
Net Margin20.53%
Debt/Equity0.71
Current Ratio0.11

Annual Financials (USD)

Metric20212022202320242025
Revenue$92.0M$114.0M$152.0M$177.0M$189.0M
Operating Profit$29.0M$40.0M$28.0M$33.0M$43.0M
Net Profit$23.0M$33.0M$23.0M$26.0M$33.0M
EPS$2.01$2.46$1.67$1.90$3.41
Op Margin32.0%35.6%18.6%18.4%22.5%

Balance Sheet (USD)

Metric20212022202320242025
Total Assets$2.6B$3.0B$3.3B$3.4B$3.4B
Total Liabilities$2.3B$2.7B$3.0B$3.0B$3.1B
Cash$146.0M$88.0M$144.0M$177.0M$99.0M
Borrowings$128.0M$226.0M$329.0M$308.0M$300.0M

Latest News

Farmers & Merchants Bancorp Insider Sold Shares Worth $273,390, According to a Recent SEC Filing MT Newswires · Jul 1, 2026 Farmers & Merchants Bancorp, Inc. Declares 2026 Second-Quarter Cash Dividend GlobeNewswire · Jun 30, 2026 F&M Bank Announces Executive Leadership Appointments to Support Continued Growth and Strategic Execution GlobeNewswire · Jun 25, 2026 Farmers & Merchants Bancorp Insider Sold Shares Worth $345,810, According to a Recent SEC Filing MT Newswires · Jun 24, 2026 Farmers & Merchants Bancorp Insider Sold Shares Worth $257,460, According to a Recent SEC Filing MT Newswires · Jun 17, 2026

Cash Flow (USD)

Metric20212022202320242025
Operating Cash Flow$35.0M$41.0M$22.0M$32.0M$36.0M
Investing Cash Flow$-268.0M$-393.0M$-205.0M$-46.0M$-140.0M
Financing Cash Flow$169.0M$190.0M$113.0M$78.0M$44.0M
Net Cash Flow$5.0M$-96.0M$58.0M$34.0M$-79.0M
Free Cash Flow$33.0M$38.0M$11.0M$31.0M$35.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.35
EV / EBITDA—
FCF Yield—
Quick Ratio—
Interest Coverage—
Return 1Y17.51%
Return 3Y40.15%
Return 5Y63.65%

Ownership

Insiders Held3.40%
Institutions Held33.73%
Institutions Float Held34.91%
Institutional HolderSharesReport Date
Blackrock Inc.923,3272026-03-31
Vanguard Capital Management LLC534,7382026-03-31
Goelzer Investment Management, Inc.328,6042026-03-31
Geode Capital Management, LLC309,2072026-03-31
Manufacturers Life Insurance Co.290,6202026-03-31

Peer Comparison

TickerPriceChangeP/EMarket CapDiv Yield
ATLOAmes National Corporation $33.70 -1.00% 12.54 $298.49M 2.97%
BCALCalifornia BanCorp $22.04 -0.14% 11.71 $708.60M 2.20%
CBNKCapital Bancorp, Inc. $41.29 +0.24% 11.79 $672.63M 1.38%
CMTVCommunity Bancorp. $42.31 -2.58% 12.71 $236.97M 2.49%
FNLCFirst Bancorp, Inc (ME) $36.36 +0.53% 10.03 $410.22M 4.44%

About Farmers & Merchants Bancorp, Inc.

Farmers & Merchants Bancorp, Inc. is led by CEO Lars Eller, employs 482 people, headquartered in US, publicly traded since 2006.

Farmers & Merchants Bancorp, Inc. (FMAO) stock trades at $36.54 with a market capitalization of $503.27M. The stock is valued at a price-to-earnings (P/E) ratio of 12.20, price-to-book of 1.27, price-to-sales of 2.51. Over the past 52 weeks the stock has ranged between $22.77 and $36.55, and currently trades at or near its 52-week high. It pays a dividend yielding 2.82%.

On profitability, Farmers & Merchants Bancorp, Inc. generates a return on equity (ROE) of 10.72%, return on capital employed of 1.47%, an operating margin of 22.75%, a net profit margin of 20.53%.

Farmers & Merchants Bancorp, Inc. by the numbers, 2016–2025

Between 2016 and 2025 Farmers & Merchants Bancorp, Inc. reported revenue of $48.0M rising to $189.0M, a change of +293.8% across 10 years. Compounded, revenue has grown 17.3% a year over five years, 18.4% over three, 6.8% over the last twelve months. Net profit rose to $33.0M.

Operating margin went from 34.1% in 2016 to 22.5% in 2025, a fall of 11.7 percentage points. The most recent net margin is 20.53%. On a trailing twelve-month basis to Jun '26, revenue is $196.0M and net profit $41.0M.

Borrowings rose from $80.0M to $300.0M, cash from operations was $36.0M in the latest year, positive in 10 of the last 10.

Return on equity has averaged 8.5% over five years, and was 8.9% in the most recent year.

The share price itself has compounded at —% a year over five years, —% over three, —% over the last year. Past price movement is history, not a forecast.

Figures are as reported and in the company's own reporting currency. They describe what has already happened and carry no implication about what follows.

Farmers & Merchants Bancorp, Inc. (FMAO) — frequently asked questions

What is Farmers & Merchants Bancorp, Inc. (FMAO) stock price today?

Farmers & Merchants Bancorp, Inc. (FMAO) is currently trading at $36.54, up 1.81% today.

What is FMAO P/E ratio?

Farmers & Merchants Bancorp, Inc.'s P/E ratio is 12.20. This is below the typical market average of roughly 18-22x. A low P/E can reflect a lower valuation, slower expected growth, or both.

What is FMAO return on equity (ROE)?

Farmers & Merchants Bancorp, Inc.'s return on equity (ROE) is 10.72%. ROE measures net income relative to shareholders' equity. This is below the typical market range of roughly 12-15%.

What is Farmers & Merchants Bancorp, Inc.'s market cap?

Farmers & Merchants Bancorp, Inc. has a market capitalization of $503.27M.

Does FMAO pay a dividend?

Yes. Farmers & Merchants Bancorp, Inc. currently yields 2.82%. Yield moves with the share price, so it changes daily even when the payment does not.

How much debt does FMAO carry?

Farmers & Merchants Bancorp, Inc. has a debt-to-equity ratio of 0.71. That compares total borrowings with shareholders' equity: a figure under 1 means equity exceeds debt.

What is FMAO's profit margin?

Farmers & Merchants Bancorp, Inc. reports a net profit margin of 20.53% — the share of revenue left after every cost, including tax and interest.

What sector is FMAO in?

Farmers & Merchants Bancorp, Inc. is classified under Financial Services, in the Banks - Regional industry. Ratios are most informative compared with other companies in the same industry rather than across the whole market.

Which exchange is FMAO listed on?

Farmers & Merchants Bancorp, Inc. trades on NASDAQ under the ticker FMAO.

What is FMAO's 52-week range?

Over the last year Farmers & Merchants Bancorp, Inc. has traded between $22.77 and $36.55.

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Screens FMAO currently matches

On the figures above, Farmers & Merchants Bancorp, Inc. passes the filters for 12 of our ready-made screens, among them Small Cap Stocks, Stocks With PE Under 20, Small Cap Low PE Stocks. Appearing on a screen means the numbers meet its filters today and nothing more; the list is rebuilt whenever the data changes.

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