Stock FMAO FARMERS & MERCHANTS BANCORP, INC.
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Financials Farmers & Merchants Bancorp, Inc.

Equities

FMAO

US30779N1054

Banks

Market Closed - Nasdaq
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
21.72 USD +6.11% Intraday chart for Farmers & Merchants Bancorp, Inc. +3.43% -12.42%
Mar. 19 Farmers & Merchants Bancorp Keeps Quarterly Dividend at $0.22 a Share, Payable April 20 to Holders of Record March 29 MT
Mar. 19 Farmers & Merchants Bancorp, Inc. Approves Quarterly Cash Dividend, Payable on April 20, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 332.9 253.8 426.1 366.8 335.7 293.5 -
Enterprise Value (EV) 1 332.9 253.8 426.1 366.8 335.7 293.5 293.5
P/E ratio 18.2 x 12.8 x 16.3 x 11 x 14.9 x 14.5 x 12.4 x
Yield - 2.87% 2.16% - 3.43% 4.07% 4.19%
Capitalization / Revenue 6.22 x 4.25 x 6.13 x 4.23 x 4.12 x 3.37 x 3.1 x
EV / Revenue 6.22 x 4.25 x 6.13 x 4.23 x 4.12 x 3.37 x 3.1 x
EV / EBITDA - - - - - - -
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Price to Book - 1.03 x 1.44 x - 1.07 x 0.91 x 0.88 x
Nbr of stocks (in thousands) 11,043 11,034 12,978 13,496 13,537 13,513 -
Reference price 2 30.15 23.00 32.83 27.18 24.80 21.72 21.72
Announcement Date 2/5/20 2/10/21 2/14/22 2/8/23 2/13/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 53.55 59.78 69.5 86.79 81.4 87 94.6
EBITDA - - - - - - -
EBIT 1 - 32.19 32.94 45.08 30.1 28.25 35.25
Operating Margin - 53.85% 47.4% 51.94% 36.98% 32.47% 37.26%
Earnings before Tax (EBT) 1 22.63 25.21 29.5 40.48 28.35 25.27 29.67
Net income 1 18.4 20.1 23.5 32.52 22.79 20.43 23.97
Net margin 34.37% 33.62% 33.81% 37.47% 27.99% 23.48% 25.34%
EPS 2 1.660 1.800 2.010 2.460 1.670 1.493 1.757
Free Cash Flow - - - - - - -
FCF margin - - - - - - -
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 - 0.6600 0.7100 - 0.8500 0.8833 0.9100
Announcement Date 2/5/20 2/10/21 2/14/22 2/8/23 2/13/24 - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 18.45 20.04 19.78 21.86 22.58 22.56 21.68 20.12 19.66 19.94 21.13 21.3 21.97 22.6 22.77
EBITDA - - - - - - - - - - - - - - -
EBIT 1 8.203 10.13 10.63 11.95 12.84 9.649 8.866 7.546 6.282 7.342 6.5 6.75 7.2 7.8 7.75
Operating Margin 44.46% 50.54% 53.75% 54.65% 56.87% 42.78% 40.89% 37.51% 31.95% 36.83% 30.76% 31.69% 32.78% 34.51% 34.04%
Earnings before Tax (EBT) 1 7.544 9.682 10.05 10.32 11.21 8.894 8.049 7.532 5.898 6.875 5.9 5.967 6.5 6.933 6.667
Net income 1 5.92 7.683 8.102 8.271 8.954 7.188 6.466 6.001 4.777 5.543 4.751 4.79 5.261 5.591 5.389
Net margin 32.09% 38.35% 40.95% 37.83% 39.65% 31.87% 29.82% 29.83% 24.3% 27.81% 22.48% 22.49% 23.95% 24.74% 23.67%
EPS 2 0.5300 0.5900 0.6200 0.6300 0.6800 0.5300 0.4700 0.4400 0.3500 0.4100 0.3467 0.3533 0.3867 0.4100 0.3933
Dividend per Share 2 0.1800 0.1900 0.1900 0.2025 0.2100 - 0.2100 0.2100 0.2100 0.2200 0.2200 0.2200 0.2200 0.2233 0.2267
Announcement Date 10/20/21 2/14/22 4/20/22 7/21/22 10/19/22 2/8/23 4/19/23 7/26/23 10/26/23 2/13/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt - - - - - - -
Net Cash position - - - - - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow - - - - - - -
ROE (net income / shareholders' equity) 8.26% 8.38% 9.09% - 7.46% 6.4% 7.23%
ROA (Net income/ Total Assets) 1.23% 1.14% 1.05% - 0.71% 0.61% 0.68%
Assets 1 1,496 1,763 2,238 - 3,209 3,367 3,542
Book Value Per Share 2 - 22.30 22.80 - 23.20 23.80 24.80
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 2/5/20 2/10/21 2/14/22 2/8/23 2/13/24 - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Farmers & Merchants Bancorp, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
21.72 USD
Average target price
22.67 USD
Spread / Average Target
+4.36%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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