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    Farmers & Merchants Bancorp Inc (FMAO)

    Official site

    FINANCIAL SERVICES • BANKS - REGIONAL • NASDAQ

    $35.12
    +0.43 (+1.24%)

    Market Cap: $477.79M

    Last updated: Oct 16, 2026 at 1:55 PM ET

    Earnings

    Performance (10Y)

    Beat Rate
    74%(29/39)
    Avg Surprise
    +7.83%
    Streak
    11 Q

    Upcoming Estimates

    Period ending Sep 30, 2026
    EPS Consensus$0.80
    Range$0.80 - $0.81
    3 analysts
    EPS Revisions
    3
    0
    7d
    3
    0
    30d
    EPS Estimate DriftChange to current
    90d ago$0.71+12.6%
    60d ago$0.71+12.6%
    30d ago$0.71+12.6%
    7d ago$0.80+0.4%
    Current$0.80
    Revenue Consensus
    $29M
    Range$29M - $29M
    3 analysts
    Period ending Dec 31, 2026
    EPS Consensus$1.02
    Range$1.00 - $1.03
    3 analysts
    Revenue Consensus
    $28M
    Range$28M - $28M
    3 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$1.02---
    Sep 26EST
    		-$0.80---
    Jun 26
    Reported Jul 27
    		$0.86$0.67+28.36%Beat+53.6%
    Mar 26
    Reported Apr 22
    		$0.72$0.68+5.88%Beat+41.2%
    Dec 25
    Reported Feb 12
    		$0.71$0.66+7.58%Beat+16.4%
    Sep 25
    Reported Oct 27
    		$0.64$0.59+8.47%Beat+33.3%
    Jun 25
    Reported Jul 28
    		$0.56$0.50+12.00%Beat+33.3%
    Mar 25
    Reported Apr 28
    		$0.51$0.42+20.00%Beat+30.8%
    Dec 24
    Reported Feb 12
    		$0.61$0.48+27.08%Beat+48.8%
    Sep 24
    Reported Oct 30
    		$0.48$0.41+17.07%Beat+37.1%
    Jun 24
    Reported Aug 1
    		$0.42$0.36+16.67%Beat-6.7%
    Mar 24
    Reported May 1
    		$0.39$0.35+11.43%Beat-18.7%
    Dec 23
    Reported Feb 13
    		$0.41$0.32+28.13%Beat-22.6%
    Sep 23
    Reported Oct 26
    		$0.35$0.37-5.41%Miss-48.5%
    Jun 23
    Reported Jul 26
    		$0.45$0.45+0.00%Beat-28.6%
    Mar 23
    Reported Apr 19
    		$0.48$0.54-11.11%Miss-22.6%
    Dec 22
    Reported Feb 8
    		$0.53$0.67-20.90%Miss-19.7%
    Sep 22
    Reported Oct 19
    		$0.68$0.72-5.56%Miss+7.9%
    Jun 22
    Reported Jul 21
    		$0.63$0.62+1.61%Beat+18.9%
    Mar 22
    Reported Apr 20
    		$0.62$0.56+10.71%Beat+40.9%
    Dec 21
    Reported Feb 14
    		$0.66$0.56+17.86%Beat+37.5%
    Sep 21
    Reported Oct 20
    		$0.63$0.53+18.87%Beat+57.5%
    Jun 21
    Reported Jul 21
    		$0.53$0.45+17.78%Beat+23.3%
    Mar 21
    Reported Apr 21
    		$0.44$0.45-2.22%Miss+18.9%
    Dec 20
    Reported Feb 10
    		$0.48$0.39+23.08%Beat+6.7%
    Sep 20
    Reported Oct 21
    		$0.40$0.42-4.76%Miss+5.3%
    Jun 20
    Reported Jul 22
    		$0.43$0.33+30.30%Beat+2.4%
    Mar 20
    Reported Apr 24
    		$0.37$0.37+0.00%Beat-2.6%
    Dec 19
    Reported Feb 5
    		$0.45$0.40+12.50%Beat+9.8%
    Sep 19
    Reported Oct 21
    		$0.38$0.41-7.32%Miss-9.5%
    Jun 19
    Reported Jul 19
    		$0.42$0.45-6.67%Miss-4.5%
    Mar 19
    Reported Apr 26
    		$0.38$0.46-17.39%Miss-7.3%
    Dec 18
    Reported Feb 13
    		$0.41$0.35+17.14%Beat+10.8%
    Sep 18
    Reported Oct 18
    		$0.42$0.40+5.00%Beat+20.0%
    Jun 18
    Reported Jul 18
    		$0.44$0.39+12.82%Beat+25.7%
    Mar 18
    Reported Apr 19
    		$0.41$0.38+7.89%Beat+32.3%
    Dec 17
    Reported Feb 8
    		$0.37$0.35+5.71%Beat+5.7%
    Sep 17
    Reported Oct 18
    		$0.35$0.35+0.00%Beat-
    Jun 17
    Reported Jul 19
    		$0.35$0.32+9.38%Beat-
    Mar 17
    Reported Apr 19
    		$0.31$0.32-3.13%Miss-
    Dec 16
    Reported Feb 8
    		$0.35$0.30+16.67%Beat-

    Dividends

    Dividend Metrics

    Forward Yield2.85%
    Forward Annual Dividend$1.00
    Payout Ratio32.35%
    FrequencyQuarterly
    Pay MonthsJan, Apr, Jul, Oct

    Growth

    3Y CAGR+3.47%
    5Y CAGR+6.40%
    FMAO dividend history and ex-dividend datesRun FMAO in the free DRIP calculator

    Key Metrics

    Valuation
    P/E Ratio11.99EV/EBITDA9.38x
    Price/FCF11.64xFCF Yield8.59%
    Profitability
    Profit Margin31.00%Operating Margin46.30%
    ROE10.90%ROIC6.64%
    Financial Health
    Debt/Equity0.57xInterest Coverage0.76x
    Current RatioN/AQuick RatioN/A
    Trading Statistics
    Beta0.81Avg Volume48.60K
    52-Week High$35.8652-Week Low$22.18

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$34.96
    SMA 20$34.86
    SMA 50$34.63
    SMA 200$29.09
    EMA 10$34.91
    EMA 20$34.85
    EMA 50$34.15
    EMA 200$30.09

    MACD

    Line: 0.13Signal: 0.16Hist: -0.03

    ADX

    ADX: 23.2+DI: 14.6-DI: 20.8

    Aroon & PSAR

    Aroon Up20.0
    Aroon Down60.0
    PSAR$34.26

    Bollinger Bands

    Upper Band$35.47
    Lower Band$34.25
    %B Position352%(Upper)
    Band Width0.71

    RSI (14-Day)

    Neutral
    54.5

    Momentum Oscillators

    Stoch %K55.8
    Stoch %D55.3
    Williams %R-36.1
    ROC (10d)1.3%
    Momentum0.46
    CCI (20d)40.0
    MFI (14d)37.7

    Volatility Measures

    ATR (14d)$0.92(2.6%)
    StdDev (20d)0.31
    Hist Vol16.9%(Low)

    Volume Flow

    VWAP$35.16
    OBV2.4M
    AD Line-14.6M
    CMF (20d)-0.619

    Volume Metrics

    Avg Vol (20d)48.1K
    Vol Ratio0.7x
    VWMA (20d)$34.90

    Pivot Points

    R3$35.57
    R2$35.30
    R1$35.00
    Pivot Point$34.73
    S1$34.42
    S2$34.15
    S3$33.85

    Advanced Oscillators

    TSI6.30
    Ultimate Osc41.9
    KST7.62

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$34.35M$32.44M$32.45M$31.26M$29.65M$28.07M$26.83M$25.55M$25.09M$24.06M$23.73M$23.33M
    Cost of RevenueN/A$16.16M$17.36M$17.87M$18.47M$17.64M$19.25M$20.33M$20.38M$17.98M$18.80M$17.08M
    Gross ProfitN/A$31.61M$31.25M$29.95M$28.63M$26.80M$26.04M$24.83M$24.25M$23.92M$22.64M$22.01M
    Operating Expenses$19.26M$19.80M$19.05M$19.74M$19.26M$18.76M$16.08M$17.43M$17.34M$17.84M$16.39M$17.04M
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$0$0$0$0$0$0$0$0$0$0$0$0
    Operating IncomeN/A$12.34M$12.83M$11.23M$9.70M$8.76M$10.53M$8.11M$7.16M$6.78M$6.88M$5.90M
    Interest Income$45.65M$43.30M$44.57M$44.48M$43.49M$41.00M$41.85M$41.90M$41.17M$38.65M$38.27M$36.36M
    Interest Expense$16.73M$15.85M$16.80M$17.58M$17.78M$17.09M$19.02M$20.31M$19.79M$18.54M$18.34M$16.70M
    Income Before Tax$14.77M$12.34M$12.83M$11.23M$9.70M$8.76M$10.53M$8.11M$7.16M$6.78M$6.88M$5.90M
    Income Tax Expense$2.97M$2.76M$3.04M$2.38M$1.99M$1.81M$2.15M$1.59M$1.48M$1.42M$1.33M$1.12M
    Net Income$11.80M$9.58M$9.79M$8.85M$7.71M$6.95M$8.38M$6.52M$5.68M$5.36M$5.54M$4.78M
    EBITDA$16.28M$14.10M$14.52M$13.30M$11.41M$10.44M$12.15M$10.15M$9.11M$8.73M$8.68M$7.77M
    EBIT$14.77M$12.34M$12.83M$11.23M$9.70M$8.76M$10.53M$8.11M$7.16M$6.78M$6.88M$5.90M
    * Some calculated fields are derived from available data when not provided by source

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    News

    FMAO Q3'26 Earnings: revenue estimate is 34.65M USD

    Farmers & Merchants Bancorp, Inc. (FMAO) is expected to announce its Q3'26 results on October 21st. Analysts anticipate revenue of $34.65 million and an Earnings Per Share (EPS) of $0.80 for the quarter. The article...

    TradingView•10/14/26•Neutral

    Dividend rises to USD 0.25 for Farmers & Merchants Bancorp stock

    Farmers & Merchants Bancorp announced a third-quarter dividend of USD 0.25 per share, comprising a regular dividend of USD 0.24 and a special dividend of USD 0.01. This marks the 32nd consecutive annual increase...

    ad-hoc-news.de•10/13/26•Bullish

    Liquidity Mapping Around (FMAO) Price Events

    Farmers & Merchants Bancorp Inc. (NASDAQ: FMAO) shows neutral near and mid-term readings but a positive long-term bias. AI models have generated three trading strategies: a position trading strategy...

    Stock Traders Daily•10/11/26•Neutral

    Farmers & Merchants Bancorp (FMAO) Stock Price, News & Analysis

    This article provides an overview of Farmers & Merchants Bancorp (FMAO), a financial holding company operating The Farmers & Merchants State Bank since 1897. It details the company's valuation, profitability metrics...

    24/7 Wall St.•10/9/26•Somewhat-Bullish

    Farmers & Merchants Bancorp (FMAO) Declares 25-Cent Q3 Dividend Including Special Payout

    Farmers & Merchants Bancorp (FMAO) announced a 25-cent Q3 dividend, comprising a 24-cent regular payout and a 1-cent special dividend...

    GuruFocus•9/29/26•Somewhat-Bullish

    FMAO Valuation and Fair Value

    P/E
    12.0x
    Forward P/E
    15.9x
    EV/EBITDA
    9.4x
    P/FCF
    11.6x
    PEG
    0.0x
    P/B
    1.3x
    See GNG's fair value

    FMAO Profitability: Margins, ROIC and FCF

    Operating margin
    46.3%
    Net margin
    31.0%
    ROIC
    6.6%
    ROE
    10.9%
    FCF margin
    31.8%
    FCF yield
    8.6%

    FMAO Competitors

    CompanyTicker
    ChoiceOne Financial Services IncCOFS
    Diamond Hill Investment Group IncDHIL
    West BancorporationWTBA
    Agriculture & Natural Solutions Acquisition Corporation Class A Ordinary SharesANSC
    Ponce Financial Group IncPDLB
    Guggenheim Active Allocation FundGUG
    Greenlight Capital Re LtdGLRE
    AMERISAFE IncAMSF

    Sector: Financial Services

    FMAO Analyst Ratings

    Consensus
    Hold
    Analysts
    3
    Strong Buy
    0
    Buy
    0
    Hold
    3
    Sell
    0
    Strong Sell
    0

    FMAO Bull Case vs Bear Case

    Bull case

    • FMAO converts 31.8% of revenue into free cash flow.
    • FMAO has a 31.0% net profit margin.
    • FMAO beat EPS estimates in 100.0% of its last 8 reported quarters.

    FMAO Earnings: Beat Rate and Next Report

    Beat rate
    8 of 8 quarters (100.0%)
    Average surprise
    15.8%
    EPS estimate (fiscal period ending Sep 30, 2026)
    $0.80
    Estimate revisions (30 days, fiscal period ending Sep 30, 2026)
    3 up, 0 down

    FMAO Dividend

    Forward yield
    2.8%
    Payout ratio
    32.3%
    3Y DPS growth
    3.5%
    5Y DPS growth
    6.4%
    Pay months
    Jan, Apr, Jul, Oct
    FMAO dividend history

    Frequently Asked Questions About FMAO

    What is FMAO's current dividend yield?

    Farmers & Merchants Bancorp Inc (FMAO) has a forward dividend yield of 2.85%.

    Does FMAO pay dividends?

    Yes, Farmers & Merchants Bancorp Inc pays dividends with a forward dividend yield of 2.85%.

    What is FMAO's P/E ratio?

    Farmers & Merchants Bancorp Inc has a price-to-earnings (P/E) ratio of 11.99.

    What is FMAO's market cap?

    Farmers & Merchants Bancorp Inc (FMAO) has a market capitalization of $477.79M with a current stock price of $35.12.

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    Sector: Financial Services

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