Farmers & Merchants Bancorp, Inc.
NASDAQ:FMAO · NASDAQ Capital Market
+$0.25 today
Vol 0.14M · Avg 0.07M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NASDAQ:FMAO · Revenue to Net Income
Key Ratios
Analysis
$191.3M of revenue converted into $35.9M of net income for the selected period. Gross margin is 63.5% and net margin is 18.8%, showing how much revenue survives after costs and taxes. EPS is $2.61, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $189.1M +7.1% | $176.6M +16.1% | $152.0M +33.8% | $113.7M +23.3% | $92.2M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $71.3M -8.5% | $77.9M +29.6% | $60.2M +217.2% | $19.0M +75.8% | $10.8M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $117.8M +19.4% | $98.6M +7.3% | $91.9M -3.0% | $94.7M +16.4% | $81.4M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 62.3% +6.4pp | 55.9% -4.6pp | 60.4% -22.9pp | 83.3% -5.0pp | 88.3% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $10.1M -79.2% | $48.4M +6.6% | $45.4M +19.4% | $38.0M -0.4% | $38.2M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $75.2M +13.9% | $66.1M +4.0% | $63.5M +17.2% | $54.2M +4.5% | $51.9M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $7.0M +9.7% | $6.4M +10.4% | $5.8M +43.7% | $4.0M -19.5% | $5.0M | $374.2M | $1.2B | $631.8M |
| EBITDA | $49.5M +27.1% | $38.9M +14.1% | $34.1M -23.3% | $44.5M +29.0% | $34.5M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 26.2% +4.1pp | 22.1% -0.4pp | 22.4% -16.7pp | 39.1% +1.7pp | 37.4% | 5.6% | 46.3% | 42.0% |
| Operating Income | $42.5M +30.6% | $32.6M +14.9% | $28.4M -29.9% | $40.5M +37.2% | $29.5M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 22.5% +4.0pp | 18.4% -0.2pp | 18.6% -17.0pp | 35.6% +3.6pp | 32.0% | 16.6% | 24.1% | 22.0% |
| Interest Income | $173.5M +7.0% | $162.2M +16.8% | $138.9M +37.8% | $100.8M +31.5% | $76.7M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $69.3M -10.8% | $77.7M +33.0% | $58.4M +306.7% | $14.4M +95.6% | $7.3M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | $0 | $0 | $0 | $0 | $0 | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $42.5M +30.6% | $32.6M +14.9% | $28.4M -29.9% | $40.5M +37.2% | $29.5M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 22.5% +4.0pp | 18.4% -0.2pp | 18.6% -17.0pp | 35.6% +3.6pp | 32.0% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $9.2M +38.9% | $6.6M +19.2% | $5.6M -30.1% | $8.0M +32.6% | $6.0M | $1.3B | -$1.6B | $745.2M |
| Net Income | $33.3M +28.4% | $25.9M +13.8% | $22.8M -29.9% | $32.5M +38.4% | $23.5M | $4.9B | $4.8B | $4.7B |
| Net Margin | 17.6% +2.9pp | 14.7% -0.3pp | 15.0% -13.6pp | 28.6% +3.1pp | 25.5% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $3 +78.9% | $2 +13.8% | $2 -32.1% | $2 +22.4% | $2 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $3 +79.5% | $2 +13.8% | $2 -32.1% | $2 +22.4% | $2 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $13.7M +0.3% | $13.7M +0.3% | $13.6M +4.2% | $13.1M +13.1% | $11.6M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $13.7M +1.9% | $13.4M -1.6% | $13.6M +4.2% | $13.1M +13.1% | $11.6M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Orange County Bancorp, Inc.
NASDAQ:OBT
$483.76M
Ponce Financial Group, Inc.
NASDAQ:PDLB
$464.17M
Bankwell Financial Group, Inc.
NASDAQ:BWFG
$440.52M
RBB Bancorp
NASDAQ:RBB
$427.97M
Pioneer Bancorp, Inc.
NASDAQ:PBFS
$423.67M
PCB Bancorp
NASDAQ:PCB
$379.21M
USCB Financial Holdings, Inc.
NASDAQ:USCB
$351.76M
MVB Financial Corp.
NASDAQ:MVBF
$350.61M
BayCom Corp
NASDAQ:BCML
$344.30M
FS Bancorp, Inc.
NASDAQ:FSBW
$307.04M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does FMAO generate?
Farmers & Merchants Bancorp, Inc. (FMAO) reported $189.09M of revenue in fiscal 2025.
Is FMAO profitable?
Farmers & Merchants Bancorp, Inc. (FMAO) reported $33.31M of net income, with a net margin of 17.6%.
Explore More
Continue the stock analysis
Jump to another research area for this company.