20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
Farmers & Merchants Bancorp Inc (FMAO) operates in the BANKS - REGIONAL industry and is headquartered in Archbold, United States with about 486 employees. Its market capitalization is roughly $501 million. In the fiscal year ended 2025-12-31, FMAO reported $189M in revenue and $33M in net income.
Farmers & Merchants Bancorp, Inc. operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio, Northeast Indiana, and Southeast Michigan.
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| Income statement | TTM → 2026-09-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $130M | $189M | $177M | $152M | $114M | $92M | $85M | $78M | $56M | $51M | $48M | $44M | $43M | $42M | $44M | $44M | $48M | $49M | $50M | $52M | $49M |
| Gross Profit | — | $118M | $99M | $92M | $95M | $81M | $68M | $62M | $49M | $45M | $42M | $40M | $39M | $37M | $37M | $34M | $32M | $32M | $30M | $29M | $30M |
| Gross Margin % | — | 62.3% | 55.9% | 60.4% | 83.3% | 88.3% | 79.6% | 79.7% | 87.7% | 89.5% | 88.8% | 90.5% | 88.7% | 87.0% | 84.2% | 77.3% | 66.3% | 65.7% | 60.5% | 56.4% | 60.9% |
| Operating Income (EBIT) | — | $43M | $33M | $28M | $40M | $29M | $25M | $23M | $18M | $18M | $16M | $14M | $14M | $13M | $14M | $11M | $9M | $9M | $9M | $11M | $11M |
| Operating Margin % | — | 22.5% | 18.4% | 18.6% | 35.6% | 32.0% | 29.6% | 29.1% | 32.6% | 35.2% | 34.1% | 31.9% | 31.1% | 29.9% | 30.9% | 26.2% | 19.5% | 18.6% | 18.2% | 20.4% | 23.1% |
| Net Income | $43M | $33M | $26M | $23M | $33M | $23M | $20M | $18M | $15M | $13M | $12M | $10M | $10M | $9M | $10M | $9M | $7M | $7M | $7M | $8M | $8M |
| Net Margin % | 33.1% | 17.6% | 14.7% | 15.0% | 28.6% | 25.5% | 23.6% | 23.5% | 26.7% | 25.1% | 24.4% | 23.3% | 22.2% | 21.4% | 22.1% | 19.6% | 14.5% | 13.5% | 13.4% | 14.9% | 16.7% |
| EBITDA | — | $50M | $39M | $34M | $44M | $34M | $30M | $26M | $20M | $20M | $19M | $16M | $16M | $15M | $16M | $13M | $11M | $11M | $11M | $12M | $13M |
| Earnings Per Share (EPS) | — | $2.44 | $1.93 | $1.67 | $2.48 | $2.03 | $1.82 | $1.67 | $1.61 | $1.38 | $1.27 | $1.12 | $1.05 | $0.97 | $1.04 | $0.90 | $0.74 | $0.70 | $0.69 | $0.76 | $0.78 |
| Shares Outstanding (M) | — | 14M | 13M | 14M | 13M | 12M | 11M | 11M | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 10M | 10M | 10M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $51M | $48M | $49M | $48M | $47M | $44M | $45M | $45M |
| Gross Profit | $34M | $32M | $31M | $30M | $29M | $27M | $26M | $25M |
| Gross Margin % | 66.4% | 66.2% | 64.3% | 62.6% | 60.8% | 60.3% | 57.5% | 55.0% |
| Operating Income (EBIT) | $15M | $12M | $13M | $11M | $10M | $9M | $11M | $8M |
| Operating Margin % | 29.1% | 25.8% | 26.4% | 23.5% | 20.6% | 19.7% | 23.2% | 18.0% |
| Net Income | $12M | $10M | $10M | $9M | $8M | $7M | $8M | $7M |
| Net Margin % | 23.2% | 20.1% | 20.2% | 18.5% | 16.4% | 15.6% | 18.5% | 14.4% |
| EBITDA | $15M | $14M | $15M | $13M | $11M | $10M | $12M | $10M |
| Earnings Per Share (EPS) | $0.86 | $0.69 | $0.71 | $0.65 | $0.57 | $0.51 | $0.61 | $0.48 |
| Shares Outstanding (M) | 14M | 14M | 14M | 14M | 14M | 14M | 14M | 14M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-09-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $47M | $36M | $32M | $22M | $41M | $35M | $27M | $24M | $11M | $18M | $12M | $15M | $19M | $17M | $14M | $15M | $11M | $6M | $9M | $9M | $13M |
| Capital Expenditures (CapEx) | $1M | $2M | $2M | $11M | $3M | $2M | $3M | $4M | $3M | $2M | $2M | $2M | $3M | $2M | $2M | $1M | $2M | $0M | $1M | $3M | $0M |
| Free Cash Flow (FCF) | $45M | $35M | $31M | $11M | $38M | $33M | $24M | $20M | $8M | $16M | $10M | $13M | $16M | $15M | $12M | $14M | $9M | $5M | $8M | $6M | $13M |
| FCF Margin % | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends Paid | $12M | $12M | $12M | $11M | $10M | $8M | $7M | $6M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $15M | $11M | $8M | $14M | $11M | $1M | $11M | $3M | $19M |
| Capital Expenditures (CapEx) | — | $1M | $1M | $0M | $0M | $1M | $0M | $1M | $0M |
| Free Cash Flow (FCF) | $15M | $10M | $7M | $14M | $11M | $0M | $11M | $2M | $18M |
| FCF Margin % | — | — | — | — | — | — | — | — | — |
| Dividends Paid | — | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-09-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.6B | $3.4B | $3.4B | $3.3B | $3.0B | $2.6B | $1.9B | $1.6B | $1.1B | $1.1B | $1.1B | $989M | $941M | $966M | $947M | $923M | $906M | $854M | $806M | $804M | $737M |
| Cash & Cash Equivalents | $206M | $99M | $177M | $144M | $88M | $146M | $103M | $54M | $42M | $37M | $29M | $21M | $22M | $18M | $38M | $32M | $29M | $29M | $19M | $22M | $24M |
| Total Liabilities | $3.2B | $3.1B | $3.0B | $3.0B | $2.7B | $99M | $1.7B | $1.4B | $973M | $973M | $930M | $869M | $827M | $858M | $836M | $818M | $812M | $760M | $715M | $715M | $649M |
| Total Debt (Short + Long-Term) | $203M | $300M | $308M | $329M | $226M | $129M | $48M | $73M | $57M | $44M | $80M | $89M | $56M | $87M | $56M | $64M | $68M | $43M | $48M | $41M | $35M |
| Total Shareholders' Equity | $387M | $371M | $335M | $317M | $298M | $2.5B | $249M | $230M | $143M | $134M | $126M | $120M | $114M | $108M | $110M | $105M | $94M | $94M | $91M | $89M | $88M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FMAO viewer.
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