Farmers & Merchants Bancorp, Inc. logo FMAO - Farmers & Merchants Bancorp, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 0
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $28.50 DETAILS
HIGH: $28.50
LOW: $28.50
MEDIAN: $28.50
CONSENSUS: $28.50
UPSIDE: 3.49%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Revenue
Revenue 189.1 176.6 152.0 113.7 92.2 85.3 78.3 55.9 50.8 47.8 44.4 43.5 42.1 44.2 43.5 48.1 48.9 50.3 51.8 48.7 44.5 42.8 49.1 32.4 32.7 34.2 26.2 24.6
Cost of Revenue 71.3 77.9 60.2 19.0 10.8 17.4 15.9 6.9 5.3 5.3 4.2 4.9 5.5 7.0 9.9 16.2 16.8 19.9 22.6 19.1 13.1 12.1 21.2 18.5 24.3 27.6 20.6 18.8
Gross Profit 117.8 98.6 91.9 94.7 81.4 67.9 62.4 49.0 45.4 42.5 40.2 38.6 36.7 37.2 33.6 31.9 32.2 30.4 29.2 29.6 31.4 30.7 27.9 13.9 8.4 6.6 5.7 5.8
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 10.1 48.4 45.4 38.0 38.2 32.2 29.9 23.3 21.3 19.9 20.6 20.0 18.9 17.9 17.0 18.0 17.3 17.4 10.9 10.8 10.7 10.2 9.2 17.8 17.0 16.2 15.4 14.5
Other Expenses 65.2 17.7 18.1 16.2 13.7 10.5 9.8 7.4 6.2 6.2 5.4 5.0 5.2 5.7 5.2 4.5 5.8 3.9 7.8 7.6 9.0 8.6 8.6 (24.4) (28.8) (27.3) (23.8) (20.8)
Operating Expenses 75.2 66.1 63.5 54.2 51.9 42.7 39.7 30.8 27.5 26.1 26.0 25.1 24.1 23.6 22.2 22.5 23.1 21.2 18.7 18.4 19.6 18.9 17.8 (6.6) (11.8) (11.0) (8.5) (6.3)
Operating Income
Operating Income 42.5 32.6 28.4 40.5 29.5 25.2 22.8 18.2 17.9 16.3 14.2 13.5 12.6 13.7 11.4 9.4 9.1 9.2 10.6 11.2 11.8 11.8 10.1 20.5 20.1 17.7 14.1 12.1
Interest Expense 69.3 77.7 58.4 14.4 7.3 10.4 14.8 6.6 5.1 4.2 3.6 3.7 4.6 6.2 8.2 10.9 13.2 18.1 21.7 18.5 13.5 11.2 14.3 13.6 23.3 24.8 18.9 17.4
Interest Income 173.5 162.2 138.9 100.8 76.7 70.0 68.0 46.2 41.1 37.6 33.5 33.3 31.2 33.1 36.5 39.7 40.9 43.8 45.4 42.3 38.7 38.0 41.1 54.2 63.5 66.1 56.1 51.2
Profitability
EBITDA 42.5 38.9 34.1 44.5 34.5 29.5 26.3 20.5 20.1 18.5 16.2 15.6 14.5 15.9 13.4 11.4 11.3 10.8 11.9 12.6 13.2 13.3 12.0 22.1 21.7 19.4 15.9 13.7
EBIT 42.5 32.6 28.4 40.5 29.5 25.2 22.8 18.2 17.9 16.3 14.2 13.5 12.6 13.7 11.4 9.4 9.1 9.2 10.6 11.2 11.8 11.8 10.1 20.5 20.1 17.7 14.1 12.1
Income Before Tax 42.5 32.6 28.4 40.5 29.5 25.2 22.8 18.2 17.9 16.3 14.2 13.5 12.6 13.7 11.4 9.4 9.1 9.2 10.6 11.2 11.8 11.8 10.1 20.5 20.1 17.7 14.1 12.1
Income Tax Expense 9.2 6.6 5.6 8.0 6.0 5.1 4.4 3.3 5.2 4.7 3.8 3.9 3.6 3.9 2.9 2.4 2.5 2.5 2.8 3.1 3.2 3.6 2.5 7.1 7.8 6.7 4.9 4.0
Net Income 33.3 25.9 22.8 32.5 23.5 20.1 18.4 14.9 12.7 11.7 10.3 9.6 9.0 9.8 8.5 7.0 6.6 6.7 7.7 8.1 8.6 8.2 7.6 13.4 12.3 11.0 9.2 8.1
Per Share Data
EPS (Basic) 3.40 1.90 1.67 2.46 2.01 1.80 1.66 1.61 1.38 1.26 1.12 1.04 0.97 1.04 0.90 0.74 0.70 0.70 0.76 0.78 0.83 1.30 1.25 2.28 2.14 1.90 1.66 1.52
EPS (Diluted) 3.41 1.90 1.67 2.46 2.01 1.80 1.66 1.61 1.38 1.26 1.12 1.04 0.97 1.04 0.90 0.74 0.70 0.70 0.76 0.78 0.83 1.30 1.25 2.28 2.14 1.90 1.66 1.52
Shares Outstanding 13.7 13.7 13.6 13.1 11.6 11.1 11.0 9.3 9.2 9.1 9.2 9.2 9.3 9.3 9.4 9.4 9.5 9.7 10.2 10.4 10.4 6.3 6.1 5.9 5.8 5.8 5.6 5.3
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998
Current Assets
Cash & Cash Equivalents 98.7 177.3 143.7 87.5 146.4 102.9 54.4 41.5 37.5 29.3 28.7 19.1 24.3 19.5 53.6 63.5 74.3 42.0 39.7
Short-Term Investments 210.7 426.6 358.5 390.8 429.9 307.8 222.3 168.4 196.4 218.5 0 0 0 0 0 0 0 0 0
Net Receivables 0 0 0 0 0 0 0 0 0 0 0 19.5 0 0 43.1 30.9 13.5 14.7 14.3
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 0 4.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 309.5 605.4 502.1 478.3 576.3 410.7 276.7 210.0 233.9 245.9 28.7 38.6 24.3 19.5 96.6 94.4 87.8 56.7 54.0
Non-Current Assets
Property, Plant & Equipment 31.9 33.8 35.8 28.7 26.9 27.1 26.4 22.6 21.7 21.5 16.1 16.8 15.5 15.9 11.3 11.4 11.6 12.7 11.7
Goodwill 86.4 86.4 86.4 86.4 80.4 47.3 47.3 4.1 4.1 4.1 4.1 4.1 0 0 0 0 0 0 0
Intangible Assets 5.2 5.7 5.6 3.5 3.2 3.3 2.6 2.4 2.3 2.2 0 0 0 0 0 0 0 0 0
Long-Term Investments 224.4 2,553.4 2,574.9 2,346.7 1,857.1 1,303.0 1,221.8 843.8 821.1 757.1 775.6 744.5 645.3 651.0 217.2 262.8 806.2 750.5 693.0
Other Non-Current Assets 2,777.1 81.5 78.4 71.8 94.4 118.1 32.4 33.4 24.0 23.3 29.4 1.7 17.4 19.3 696.7 602.2 0 0 0
Total Non-Current Assets 3,124.9 2,760.8 2,781.1 2,537.0 2,062.0 1,498.8 1,330.6 906.2 873.1 808.1 825.2 767.1 678.3 686.2 925.3 876.4 817.7 763.2 704.8
Total Assets 3,434.4 3,364.7 3,283.2 3,015.4 2,638.3 1,909.5 1,607.3 1,116.2 1,107.0 1,055.9 853.9 805.7 702.5 705.7 1,021.9 970.9 905.6 819.9 758.8
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3.8 0 0 0 0
Short-Term Debt 37.7 27.2 28.2 54.2 29.3 30.2 48.1 32.2 39.5 70.3 43.3 48.2 22.9 27.3 17.0 0 0 0 2
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 2,730.7 2,686.8 2,607.5 2,468.9 2,193.5 1,596.2 1,288.3 928.8 919.3 842.2 676.4 615.7 574.2 575.1 850.2 819.7 764.7 685.1 627.4
Total Current Liabilities 2,771.6 2,717.0 2,635.7 2,542.3 2,242.6 1,642.5 1,352.3 972.9 967.9 920.3 726.1 669.5 597.8 603.1 877.4 829.1 773.6 698.6 638.3
Non-Current Liabilities
Long-Term Debt 262.3 280.9 300.5 172.1 98.5 17.9 24.8 0 5 10 34.2 45.6 22.0 24.4 41.0 41 41.0 41.1 41.1
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 29.6 34.7 30.6 2.8 0 0 0 972.9 0 0 0 0 3.9 3.4 (41.0) (41) (41.0) (41.1) (41.1)
Total Non-Current Liabilities 291.9 315.5 331.0 174.9 98.5 17.9 24.8 0 5 10 34.2 45.6 25.9 27.7 41.0 41 41.0 41.1 41.1
Total Liabilities 3,063.5 3,029.5 2,966.7 2,717.2 2,341.1 1,660.4 1,377.1 972.9 972.9 930.3 760.3 715.2 623.7 630.8 918.3 870.1 814.7 739.7 679.4
Stockholders' Equity
Common Stock 135.5 135.6 135.5 135.5 122.7 81.8 81.5 10.8 11.5 11.9 0 0 0 0 0.0 0.0 0.0 0.0 0.0
Retained Earnings 257.9 235.9 221.1 212.4 189.4 173.6 160.1 147.9 136.6 127.9 88.0 84.9 66.0 60.2 36.7 36.5 36.5 36.0 35.0
Accumulated Other Comprehensive Income (11.9) (25.2) (29.0) (38.2) (3.2) 5.7 1.1 (13.8) (13.4) (13.9) 2.5 2.2 0.2 2.0 1.8 2.9 0.8 (3.8) 0.8
Total Stockholders' Equity 370.9 335.2 316.5 298.1 297.2 249.2 230.3 143.3 134.1 125.6 93.6 90.5 78.8 74.9 103.6 100.7 90.9 80.2 79.4
Total Liabilities & Equity 3,434.4 3,364.7 3,283.2 3,015.4 2,638.3 1,909.5 1,607.3 1,116.2 1,107.0 1,055.9 853.9 805.7 702.5 705.7 1,021.9 970.9 905.6 819.9 758.8
Debt Metrics
Total Debt 300.0 308.1 328.7 226.3 127.8 48.1 72.9 32.2 44.5 80.3 77.5 93.8 44.8 51.7 98.9 82 82.1 82.1 84.2
Net Debt 201.3 130.8 185.0 138.8 (18.6) (54.8) 18.4 (9.3) 7.0 51.1 48.8 74.7 20.6 32.2 45.4 18.5 7.8 40.1 44.5
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998
Operating Activities
Net Income 33.3 25.9 22.8 32.5 23.5 20.1 18.4 14.9 12.7 11.7 8.6 8.2 7.6 13.4 12.3 11.0 9.2 8.1
Depreciation & Amortization 0 6.4 5.8 4.0 5.0 4.3 3.5 2.2 2.1 2.2 1.5 1.5 1.9 1.6 1.6 1.8 1.8 1.6
Stock-Based Compensation 0 1.5 1.5 1.0 0.9 1.1 1.1 0.7 0.5 0.4 0 0 0 0 0 0 0 0
Change in Working Capital (1.4) 3.8 (7.4) (5.4) 4.0 (0.9) 5.6 (7.8) (0.4) (0.7) 0.2 0.0 5.9 (5.9) 0 0 0 0
Other Non-Cash Items 4.5 (5.5) (2.7) 8.4 3.2 4.5 (5.0) 0.2 2.7 (1.2) (1.4) 5.0 4.1 (0.4) (17.2) (3.4) 10.6 3.2
Operating Cash Flow 36.4 32.5 22.1 40.7 34.7 27.4 23.9 10.7 17.6 12.4 9.2 14.7 19.5 7.9 (3.4) 8.7 21.1 12.3
Investing Activities
Capital Expenditure (1.8) (1.9) (10.9) (2.6) (2.0) (3.2) (3.5) (2.6) (1.9) (2.4) (0.5) (0.8) (2.1) (1.5) (1.5) (0.6) (2.8) (1.7)
Acquisitions 0 0 0 9.1 (12.4) 0 (2.1) 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 (99.1) (13.4) (40.0) (171.3) (183.7) (110.2) (13.9) (15.3) (114.8) (73.4) (81.6) (86.8) (114.0) (33.2) (43.3) (274.9) (263.6)
Sales/Maturities of Investments 0 35.0 46.0 31.1 65.6 102.8 78.4 39.8 36.6 127.5 38.5 75.3 91.4 155.2 81.7 77.7 206.1 179.2
Other Investing Activities (138.3) 21.6 (215.7) (387.4) (145.7) (93.7) (111.9) (21.8) (67.6) (74.5) 13.8 7.2 4.0 (95.5) (104.9) (84.7) 0.8 0.4
Investing Cash Flow (138.3) (44.4) (194.1) (389.9) (265.7) (177.7) (149.3) 1.5 (48.2) (64.2) (21.7) 0.2 6.5 (55.7) (57.9) (50.9) (70.8) (85.7)
Financing Activities
Net Debt Issuance (8.2) (19.7) 128.3 72.6 74.3 (7.5) (23.9) (5) (5) 0 11.3 (6.9) (15.2) 47.5 55 79.5 55.7 88.4
Stock Repurchased (0.4) (0.7) (0.2) (0.3) (0.3) (0.4) (0.4) (0.5) (0.2) (0.2) (0.1) 0 0 (5.0) (0.5) (1.3) (0.4) (0.2)
Dividends Paid (12.1) (11.9) (11.3) (10.3) (7.7) (7.2) (6.3) (5.0) (4.4) (4.1) (2.5) (2.5) (8.7) (4.5) (4.1) (3.7) (3.3) (3.1)
Other Financing Activities 44.0 78.3 113.0 190.8 169.8 289.8 169.0 2.1 46.3 62.4 2.1 (0.9) (1.3) 0 0 0 0 0
Financing Cash Flow 23.3 46.0 229.7 252.8 236.1 274.8 138.3 (8.3) 36.7 58.1 10.8 (10.2) (25.2) 37.9 50.5 74.5 52.0 85.1
Cash Position
Net Change in Cash (78.6) 34.1 57.8 (96.4) 5.1 124.4 12.9 3.9 6.1 6.3 (1.7) 4.7 0.7 (9.9) (10.8) 32.3 2.3 11.7
Cash at Beginning 176.4 142.2 84.4 180.8 175.7 51.3 38.4 34.5 28.3 22.0 24.3 19.5 18.8 63.5 74.3 42.0 39.7 28.0
Cash at End 97.7 176.4 142.2 84.4 180.8 175.7 51.3 38.4 34.5 28.3 22.6 24.3 19.5 53.6 63.5 74.3 42.0 39.7
Free Cash Flow 34.6 30.6 11.2 38.1 32.8 24.2 20.4 8.1 15.8 10.0 8.7 13.9 17.4 6.4 (4.8) 8.1 18.3 10.6
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Income Statement
Revenue 189.1 176.6 152.0 113.7 92.2 85.3 78.3 55.9 50.8 47.8 44.4 43.5 42.1 44.2 43.5 48.1 48.9 50.3 51.8 48.7 44.5 42.8 49.1 32.4 32.7 34.2 26.2 24.6
Gross Profit 117.8 98.6 91.9 94.7 81.4 67.9 62.4 49.0 45.4 42.5 40.2 38.6 36.7 37.2 33.6 31.9 32.2 30.4 29.2 29.6 31.4 30.7 27.9 13.9 8.4 6.6 5.7 5.8
Operating Income 42.5 32.6 28.4 40.5 29.5 25.2 22.8 18.2 17.9 16.3 14.2 13.5 12.6 13.7 11.4 9.4 9.1 9.2 10.6 11.2 11.8 11.8 10.1 20.5 20.1 17.7 14.1 12.1
Net Income 33.3 25.9 22.8 32.5 23.5 20.1 18.4 14.9 12.7 11.7 10.3 9.6 9.0 9.8 8.5 7.0 6.6 6.7 7.7 8.1 8.6 8.2 7.6 13.4 12.3 11.0 9.2 8.1
EPS (Diluted) 3.41 1.90 1.67 2.46 2.01 1.80 1.66 1.61 1.38 1.26 1.12 1.04 0.97 1.04 0.90 0.74 0.70 0.70 0.76 0.78 0.83 1.30 1.25 2.28 2.14 1.90 1.66 1.52
Balance Sheet
Cash & Equivalents 98.7 177.3 143.7 87.5 146.4 102.9 54.4 41.5 37.5 29.3 28.7 19.1 24.3 19.5 53.6 63.5 74.3 42.0 39.7
Total Assets 3,434.4 3,364.7 3,283.2 3,015.4 2,638.3 1,909.5 1,607.3 1,116.2 1,107.0 1,055.9 853.9 805.7 702.5 705.7 1,021.9 970.9 905.6 819.9 758.8
Total Debt 300.0 308.1 328.7 226.3 127.8 48.1 72.9 32.2 44.5 80.3 77.5 93.8 44.8 51.7 98.9 82 82.1 82.1 84.2
Stockholders' Equity 370.9 335.2 316.5 298.1 297.2 249.2 230.3 143.3 134.1 125.6 93.6 90.5 78.8 74.9 103.6 100.7 90.9 80.2 79.4
Cash Flow
Operating Cash Flow 36.4 32.5 22.1 40.7 34.7 27.4 23.9 10.7 17.6 12.4 9.2 14.7 19.5 7.9 (3.4) 8.7 21.1 12.3
Capital Expenditure (1.8) (1.9) (10.9) (2.6) (2.0) (3.2) (3.5) (2.6) (1.9) (2.4) (0.5) (0.8) (2.1) (1.5) (1.5) (0.6) (2.8) (1.7)
Free Cash Flow 34.6 30.6 11.2 38.1 32.8 24.2 20.4 8.1 15.8 10.0 8.7 13.9 17.4 6.4 (4.8) 8.1 18.3 10.6