Farmers & Merchants Bancorp, Inc. (FMAO)

Price$28.09

Value ScoreC

Growth ScoreB

Momentum ScoreC

Favorite Metrics

Price vs S&P 500 (26W)6.73%

Price vs S&P 500 (4W)0.87%

VGM Score53.03

Market Capitalization$388.61M

P/E Ratio (Annual)11.67x

Indicated Dividend Yield (Annual)3.30%

All Metrics

P/CF (Annual)10.58x

Book Value / Share (Quarterly)$27.30

P/TBV (Annual)0.93x

Indicated Dividend (Annual)$0.92

Revenue Growth (3Y)13.98%

Cash Flow / Share (Quarterly)$2.28

Payout Ratio (TTM)33.99%

Price vs S&P 500 (YTD)5.47%

Net Profit Margin (TTM)24.37%

EPS (TTM)$2.65

10-Day Avg Trading Volume0.07M

EPS Excl Extra (TTM)$2.65

Revenue Growth (5Y)19.65%

EPS (Annual)$2.46

Dividend / Share (Annual)$0.88

ROI (Annual)7.51%

Net Profit Margin (5Y Avg)28.65%

Cash / Share (Quarterly)$11.10

P/E Basic Excl Extra (TTM)10.81x

Revenue Growth QoQ (YoY)40.67%

EPS Growth (5Y)6.29%

P/E Normalized (Annual)11.67x

ROA (Last FY)0.97%

Revenue Growth TTM (YoY)39.28%

EBITD / Share (TTM)$3.29

ROE (5Y Avg)8.55%

Operating Margin (TTM)30.29%

Cash Flow / Share (Annual)$2.54

P/B Ratio1.03x

P/B Ratio (Quarterly)0.94x

Net Income / Employee (Annual)$70,400

ROA (TTM)1.05%

EPS Growth QoQ (YoY)37.30%

EV / EBITDA (TTM)8.63x

EPS Incl Extra (Annual)$2.46

3-Month Avg Trading Volume0.06M

52-Week Price Return23.04%

EV / Free Cash Flow (Annual)12.53x

P/E Incl Extra (TTM)10.81x

Tangible BV / Share (Quarterly)$26.94

P/S Ratio (Annual)2.57x

52-Week High$29.83

Operating Margin (5Y Avg)35.64%

EPS Excl Extra (Annual)$2.46

CapEx CAGR (5Y)-11.31%

Tangible BV CAGR (5Y)8.27%

26-Week Price Return14.65%

13-Week Price Return11.69%

Total Debt / Equity (Annual)0.20x

Enterprise Value$438.33M

Revenue / Share Growth (5Y)8.85%

Book Value / Share Growth (5Y)3.94%

Revenue / Employee (Annual)$250,794,100,000

Pretax Margin (Annual)39.56%

Cash / Share (Annual)$6.11

3-Month Return Std Dev25.58%

Net Income / Employee (TTM)$76,000

EBITDA CAGR (5Y)18.72%

EBITDA Interim CAGR (5Y)15.71%

ROE (Last FY)8.98%

EPS Basic Excl Extra (Annual)$2.46

P/FCF (TTM)12.40x

EV / Free Cash Flow (TTM)13.99x

Total Debt / Equity (Quarterly)0.13x

EPS Incl Extra (TTM)$2.65

ROI (TTM)8.45%

Dividend Growth Rate (5Y)6.43%

P/S Ratio (TTM)2.62x

Pretax Margin (5Y Avg)35.64%

Revenue / Share (Annual)$7.82

Tangible BV / Share (Annual)$26.60

Forward P/E9.67x

Free OCF CAGR (5Y)7.68%

Price vs S&P 500 (52W)-1.33%

P/E Ratio (TTM)10.81x

EPS Growth TTM (YoY)30.81%

Year-to-Date Return13.63%

5-Day Price Return2.52%

EPS Normalized (Annual)$2.46

ROA (5Y Avg)0.88%

Net Profit Margin (Annual)31.78%

Month-to-Date Return0.57%

Cash Flow / Share (TTM)$2.22

EBITD / Share (Annual)$3.40

EPS Growth (3Y)-0.33%

Operating Margin (Annual)39.56%

LT Debt / Equity (Annual)0.09x

P/CF (TTM)11.64x

ROI (5Y Avg)6.82%

P/E Excl Extra (TTM)10.81x

LT Debt / Equity (Quarterly)0.09x

EPS Basic Excl Extra (TTM)$2.65

P/TBV (Quarterly)0.95x

Payout Ratio (Annual)36.28%

P/B Ratio (Annual)0.92x

Dividend / Share (TTM)$0.89

Pretax Margin (TTM)30.29%

Book Value / Share (Annual)$26.98

Price vs S&P 500 (13W)3.44%

Net Margin Growth (5Y)3.21%

Dividend Yield (TTM)3.14%

Beta0.82x

P/FCF (Annual)11.11x

Revenue / Share (TTM)$7.44

ROE (TTM)9.85%

52-Week Low$22.59

vGradeC

gGradeB

mGradeC

vgmGradeC

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Earnings Surprise History

Q1 260.72est. 0.69

Analyst Recommendations

Mar 2026

Apr 2026

May 2026

Jun 2026

2.29

2.38

Industry Peers — Savings Institutions(37)

Symbol	Value Score	Growth Score	Momentum Score	Price
FMAOFarmers & Merchants Bancorp, Inc.	C	B	C	$28.09
HSBCHSBC Holdings PLC	C	D	B	$90.80
AXAxos Financial, Inc. Common Stock	C	B	D	$87.81
TFSLTFS Financial Corporation	F	D	B	$16.42
EBCEastern Bankshares, Inc. Common Stock	C	B	C	$19.85
BKUBankunited, Inc.	C	D	C	$47.14
PFSProvident Financial Services, Inc.	B	C	B	$22.50
CLBKColumbia Financial, Inc. Common Stock	F	D	B	$20.27
CFFNCapitol Federal Financial, Inc.	C	D	B	$7.85
HTBHomeTrust Bancshares, Inc.	C	B	C	$47.22
NFBKNorthfield Bancorp, Inc.	C	D	C	$14.35

About

Farmers & Merchants Bancorp is an Ohio-based banking company providing commercial and consumer lending services. Its business includes commercial, agricultural, and residential mortgage lending, as well as consumer and credit card products.