Price History

Hover for the daily close. The dotted line marks the period open.

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FMAO Key Statistics

As of Sep 4, 2026

Trading

Open: $34.97
Previous Close: $35.19
Day's Range: 34.97–35.39
52-Week Range: 22.77–35.94
Volume: 29.00K
Beta: 0.80

Valuation

Market Cap: $485.78M
P/E Ratio: 12.08
Forward P/E: 10.79
P/S ratio: 3.77
EPS (ttm): 2.92

Financials (FY)

Revenue (FY): $117.62M+18.93%
Net Income (FY): $33.31M+28.42%
Profit margin: 31.03%
Shares Outstanding: 13.77M
1-Year Return: +38.02%

Dividend and dates

Dividend: $0.92+2.61%
Ex-Dividend Date: July 10, 2026
Earnings Date: October 26, 2026estimated
Avg Volume: 87.71K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

FMAO Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

+137.14%−21.38%+45.07%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+45.07%
2025	−12.98%
2024	+23.06%
2023	−5.27%
2022	−14.95%
2021	+46.86%
2020	−21.38%
2019	−19.94%
2018	−4.39%
2017	+137.14%
2016 (partial year)	+10.24%

As of September 4, 2026.

FMAO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	$117.62M	$33.31M	28.3%
2024	$98.90M	$25.94M	26.2%
2023	$93.64M	$22.79M	24.3%
2022	$99.30M	$32.52M	32.7%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	$117.62M	—	—	$33.31M	28.3%
2024	$98.90M	—	—	$25.94M	26.2%
2023	$93.64M	—	—	$22.79M	24.3%
2022	$99.30M	—	—	$32.52M	32.7%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

FMAO Dividend History

’16’17’18’19’20’21’22’23’24’25’26*

$0.90+2.0% vs 2024

Dividends per share, 2025 · 4 payments

Year	Dividends per share	Payments	Change
2026*	$0.46	2	—
2025	$0.90	4	+2.0%
2024	$0.88	4	+3.8%
2023	$0.85	4	+4.6%

Year	Dividends per share	Payments	Change
2026 (partial year)	$0.46	2	—
2025	$0.90	4	+2.0%
2024	$0.88	4	+3.8%
2023	$0.85	4	+4.6%
2022	$0.81	4	+14.5%
2021	$0.71	4	+7.6%
2020	$0.66	4	+8.2%
2019	$0.61	4	+8.9%
2018	$0.56	4	+12.0%
2017	$0.50	4	+117.4%
2016	$0.23	2	—

Most recent payment: $0.23 per share, ex-dividend July 10, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

FMAO Valuation vs Banks - Regional Median

Median of 380 stocks

Metric	FMAO	Banks - Regional median	vs median
P/E	12.08	12.62	4% below
P/S ratio	3.77	3.77	0% below
Profit margin	31.03%	29.15%	1.9 pts above

Medians across 380 Banks - Regional stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Recent News

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

Farmers & Merchants Bancorp, Inc. (FMAO) carries a market capitalisation of $485.78M. The company sits in the Financial Services sector, in the Banks - Regional industry. Headcount on file is 477.

Over the past 52 weeks the price has ranged from $22.77 to $35.94. The most recent close on file for FMAO is $35.27, dated September 4, 2026. That is +$0.08 (+0.23%) against the previous close. The latest close sits 54.9% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of $117.62M. Against the prior fiscal year total of $98.90M, that is a change of +18.93%. Net income for the same year was $33.31M. That is +28.42% against the prior fiscal year. Profit margin runs at 31.03%. That is 1.9 percentage points above the Banks - Regional median of 29.15%. Trailing earnings per share are 2.92.

Across the 4 fiscal years on file, revenue moves from $99.30M in 2022 to $117.62M in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

On trailing earnings, the shares are priced at 12.08 times earnings. That is 4.28% below the Banks - Regional median of 12.62. On forward earnings the ratio is 10.79. Measured against sales, the shares trade at 3.77 times revenue. On price-to-sales that is 0.14% below the Banks - Regional median of 3.77. The medians here are taken across 380 Banks - Regional companies that report the metric.

The reported beta is 0.8. Annualized volatility over the trailing 10 years is 44.33%. The trailing one-year price return is +38.02%. Across 10 years the annualized return works out at +11.90%.

Growth & Income

The trailing dividend yield is 2.61%. That is 0.1 percentage points below the Banks - Regional median yield of 2.7%. At the indicated rate that is $0.92 a share a year. The ex-dividend date on file is July 10, 2026. Dividends are recorded for 11 calendar years; 2026 shows 2 payments totalling $0.46 a share. The year before, 2025, totalled $0.90 a share.

So far in 2026 the price is +45.07%. Across the complete calendar years on file, 2017 returned +137.14% and 2020 returned −21.38%. Of the 9 complete calendar years on file, 3 finished higher.

Peer Comparison

Farmers & Merchants Bancorp, Inc. (FMAO) operates in the Banks - Regional industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Farmers & Merchants Bancorp, Inc.	FMAO	$485.78M	12.1
Mizuho Financial Group, Inc.	MFG	$135.92B	16.0
HDFC Bank Limited	HDB	$119.10B	16.0
ICICI Bank Limited	IBN	$108.74B	18.7

The Banks - Regional industry average P/E ratio is 12.6x. Farmers & Merchants Bancorp, Inc. trades at a P/E of 12.1.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About Farmers & Merchants Bancorp, Inc.

Farmers & Merchants Bancorp, Inc. operates as the bank holding company for The Farmers & Merchants State Bank that provides commercial banking services to individuals and small businesses in Northwest Ohio, Northeast Indiana, and Southeast Michigan. The company offers checking, savings, and time deposit accounts; certificates of deposit; and custodial services for individual retirement and health savings accounts. It also provides commercial, agricultural, and residential mortgage, as well as consumer lending products; loans for farmland, farm equipment, and livestock; operating loans for seeds, fertilizers, and feeds; home improvement loans; and loans for autos, trucks, recreational vehicles, and motorcycles. In addition, the company offers commercial real estate loans, such as lines of credit and machinery purchase loans. Further, it provides automated teller machine or interactive teller machine services; and online and mobile banking, bill-pay, on-line statement opportunities, and remote deposit capture or electronic deposit processing. Additionally, the company offers electronic transaction origination, such as wire and automated clearing house file transmittal services. Farmers & Merchants Bancorp, Inc. was founded in 1897 and is headquartered in Archbold, Ohio.

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Farmers & Merchants Bancorp, Inc. (FMAO) Stock Analysis