$36.35 down $0.02, 0.05% at close Nov 6
Last close · Previous close $36.37
$36.35up $1.01, 2.86%Past month
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Shares traded on all US exchanges in the last completed session. Live intraday volume covers IEX only, so it is left out.
The average daily shares traded over the last 21 trading sessions, about one calendar month.
The lowest and highest trades over the past 52 weeks, adjusted for splits. The marker shows the latest price.
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Past performance, measured to the Nov 6 close. Total return includes reinvested dividends.Price change only, without dividends. Compared with the S&P 500, using SPY.
FMAO beat the S&P 500 in 5 of 7 periods.
| Period | FMAO and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | FMAO: up 3.6% S&P 500: down 5.6% | FMAO beat the S&P 500 by 9.2 percentage points Beat |
| 3M | FMAO: up 6.8% S&P 500: down 4.1% | FMAO beat the S&P 500 by 10.9 percentage points Beat |
| YTD | FMAO: up 50.6% S&P 500: up 8.7% | FMAO beat the S&P 500 by 41.9 percentage points Beat |
| 1Y | FMAO: up 54.9% S&P 500: up 10.9% | FMAO beat the S&P 500 by 44.0 percentage points Beat |
| Long term | ||
| 3Y | FMAO: up 123.1% S&P 500: up 75.0% +30.7% vs +20.5% a year | FMAO beat the S&P 500 by 48.1 percentage points Beat |
| 5Y | FMAO: up 64.4% S&P 500: up 67.8% +10.5% vs +10.9% a year | FMAO trailed the S&P 500 by 3.4 percentage points Trailed |
| 10Y | FMAO: up 190.4% S&P 500: up 313.1% +11.2% vs +15.2% a year | FMAO trailed the S&P 500 by 122.7 percentage points Trailed |
$10,000 invested in FMAO 10 years ago (Nov 4, 2016) would be worth about $29,039 at the close on , with dividends reinvested. The same amount in the S&P 500 would be worth about $41,313.
FMAO beat the S&P 500 in 5 of 7 periods.
| Period | FMAO and S&P 500 | vs S&P 500 |
|---|---|---|
| Short term | ||
| 1M | FMAO: up 2.9% S&P 500: down 5.6% | FMAO beat the S&P 500 by 8.5 percentage points Beat |
| 3M | FMAO: up 6.0% S&P 500: down 4.3% | FMAO beat the S&P 500 by 10.3 percentage points Beat |
| YTD | FMAO: up 47.0% S&P 500: up 7.8% | FMAO beat the S&P 500 by 39.2 percentage points Beat |
| 1Y | FMAO: up 49.9% S&P 500: up 9.7% | FMAO beat the S&P 500 by 40.2 percentage points Beat |
| Long term | ||
| 3Y | FMAO: up 100.8% S&P 500: up 68.8% +26.2% vs +19.1% a year | FMAO beat the S&P 500 by 32.0 percentage points Beat |
| 5Y | FMAO: up 39.0% S&P 500: up 56.9% +6.8% vs +9.4% a year | FMAO trailed the S&P 500 by 17.9 percentage points Trailed |
| 10Y | FMAO: up 119.6% S&P 500: up 252.6% +8.2% vs +13.4% a year | FMAO trailed the S&P 500 by 133.0 percentage points Trailed |
$10,000 invested in FMAO 10 years ago (Nov 4, 2016) would be worth about $21,964 at the close on , not counting dividends. The same amount in the S&P 500 would be worth about $35,257.
$57.50
Closing high on . Now 36.8% below that record.
Split-adjusted daily closes since Nov 23, 2004.
1
2-for-1 on . One share bought before the first split is 2 shares today.
The Nov 6 close compared with the last 12 months of reported results (the four quarters to Sep 30, 2026). Tap a metric to see how it’s calculated.
11.7×The Nov 6 close ÷ diluted EPS over the last 12 months ($3.12)
The range covers daily P/E ratios from Oct 28, 2021 to Nov 6, 2026, each based on the previous 12 months of earnings.
FMAO trades at 11.7× its earnings over the last 12 months, below its 5-year median of 12.0×. In plain terms, buyers are paying about $12 for each $1 of profit from the past year. How to read P/E
Market value divided by revenue over the last 12 months. Useful when earnings are small or negative.
P/S = Market cap ÷ Revenue (last 12 months)Price-to-sales ratioPrice relative to accounting equity (book value) per share on the Sep 30, 2026 balance sheet. Asset-light companies often trade far above book value.
P/B = Price ÷ Book value per sharePrice-to-book ratioEnterprise value divided by EBITDA over the last 12 months. It compares companies with different amounts of debt.
EV/EBITDA = Enterprise value ÷ EBITDA (last 12 months)EV/EBITDA explainedThe P/E divided by the growth in diluted EPS over the last 12 months (+33.9% on the 12 months before). It looks backward: near 1 means the P/E roughly matches last year’s growth. Sites that use analysts’ growth forecasts show a different PEG.
PEG = P/E ÷ EPS growth (%) = 11.7 ÷ 33.9Free cash flow over the last 12 months as a share of the company’s market value: the cash the business generated for each dollar of stock.
FCF yield = Free cash flow (last 12 months) ÷ Market capFree cash flowWhat it would cost to buy the whole business: the market cap at the Nov 6 close, plus debt, minus cash and short-term investments from the Sep 30, 2026 balance sheet.
EV = Market cap + Debt − Cash and short-term investmentsEV/EBITDA explainedBuild your own FMAO DCF in Excel. Value Farmers & Merchants Bancorp with your own growth and margin assumptions.Browse DCF models Free DCF calculator
Reported results, not forecasts. From company filings via Tiingo; the latest report is Q3 FY26, the quarter ended Sep 30, 2026. “Last 12 months” means the four quarters from Oct 1, 2025 to Sep 30, 2026, and balance-sheet figures are as of Sep 30, 2026.
Last 12 months, with the change from the 12 months before
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| Q4 FY24 (Dec 31, 2024) | $26.60M | $8.38M | $0.62 |
| Q1 FY25 (Mar 31, 2025) | $27.52M | $6.95M | $0.51 |
| Q2 FY25 (Jun 30, 2025) | $28.96M | $7.71M | $0.56 |
| Q3 FY25 (Sep 30, 2025) | $30.97M | $8.85M | $0.64 |
| Q4 FY25 (Dec 31, 2025) | $31.89M | $9.79M | $0.72 |
| Q1 FY26 (Mar 31, 2026) | $32.14M | $9.58M | $0.70 |
| Q2 FY26 (Jun 30, 2026) | $34.03M | $11.80M | $0.86 |
| Q3 FY26 (Sep 30, 2026) | $34.43M | $11.54M | $0.84 |
| Period | Revenue | Net income | Diluted EPS |
|---|---|---|---|
| FY21 (Dec 31, 2021) | $83.66M | $23.50M | $2.01 |
| FY22 (Dec 31, 2022) | $97.98M | $32.52M | $2.46 |
| FY23 (Dec 31, 2023) | $95.56M | $22.79M | $1.67 |
| FY24 (Dec 31, 2024) | $101.26M | $25.94M | $1.90 |
| FY25 (Dec 31, 2025) | $119.34M | $33.31M | $2.43 |
The percentages above the chart cover the last 12 months; the lines show each quarter. What margins tell you
Cash from operations minus capital spending: the cash left after the business maintains and grows its assets.
FCF = Operating cash flow − Capital spendingFree cash flowFree cash flow as a share of revenue, both over the last 12 months.
Cash spent repurchasing shares, net of shares issued. Buybacks shrink the share count, so each remaining share owns more of the company.
Cash plus short- and long-term marketable securities on the Sep 30, 2026 balance sheet.
Total debt divided by shareholders’ equity on the Sep 30, 2026 balance sheet: a measure of financial leverage.
D/E = Total debt ÷ Shareholders’ equityDebt-to-equity ratioOver the last 12 months, Farmers & Merchants Bancorp’s net income was 11.2% of its shareholders’ equity (averaged over the last four quarter-ends). It describes the past year, not an expected return.
ROE = Net income (last 12 months) ÷ Average equityReturn on equityOver the last 12 months, Farmers & Merchants Bancorp’s net income was 1.2% of its total assets (averaged over the last four quarter-ends): what the business earned on everything it owns.
ROA = Net income (last 12 months) ÷ Average total assetsCash dividends per share by ex-dividend year, adjusted for splits.
| Year | Per share |
|---|---|
| 2016 | $0.46 |
| 2017 | $0.50 |
| 2018 | $0.56 |
| 2019 | $0.61 |
| 2020 | $0.66 |
| 2021 | $0.71 |
| 2022 | $0.81 |
| 2023 | $0.85 |
| 2024 | $0.88 |
| 2025 | $0.90 |
| 2026 (to date) | $0.71 |
Cash dividends per share with ex-dividend dates in the last 12 months.
Dividends paid over the last 12 months as a share of the Nov 6 close. The bar shows where that yield sits in its range over the past five years; the median was 3.34%.
The most recent payment per share. Shares bought on or after the ex-dividend date don’t receive it.
The compound annual growth rate of the full-year dividend per share from 2020 to 2025.
How many calendar years in a row the full-year amount has risen, through 2025.
The share of earnings paid out as dividends over the last 12 months. Lower ratios leave more room to reinvest or raise the dividend.
Payout = Dividends per share ÷ Diluted EPS (both last 12 months)Payout ratio calculatorF&M Bank is a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties, and we have Loan Production Offices in West Bloomfield, Michigan; Muncie, Indiana; and Bryan, Ohio. Safe Harbor Statement Farmers & Merchants Bancorp, Inc. (“F&M”) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995.
Top story
ARCHBOLD, Ohio, Nov. 05, 2026 (GLOBE NEWSWIRE) -- F&M Bank (“F&M”), an Archbold, Ohio-based bank owned by Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO), is pleased to announce the appointment of Paul Elkins as Senior Vice President, Chief Information &…
Also mentionedFMBM
Headlines from Tiingo News. Repeats and auto-generated sites are filtered out; links open the publisher’s site.
Prices are from the last refresh. Open any stock for its live dashboard.
Farmers & Merchants Bancorp (FMAO) traded at $36.35 at the close on , down $0.02 (0.05%) from the previous close of $36.37. Over the past 52 weeks it has traded between $22.91 and $38.33.
With dividends reinvested, $1,000 invested in FMAO on would be worth about $2,904 at the close on , a total return of +190.4%. The same $1,000 would be worth $1,644 if invested five years ago, $1,549 if invested one year ago, and $6,109 if invested 20 years ago. Past performance doesn’t predict future returns.
Farmers & Merchants Bancorp’s market capitalization is about $500.7 million. That’s Tiingo’s daily market cap for , at that day’s closing price of $36.35 (how market cap works). Farmers & Merchants Bancorp reported 13.77M shares outstanding at the end of its latest quarter ().
FMAO trades at 11.7 times its diluted earnings over the four quarters to ($3.12 per share), at the close. Over the past five years its P/E has ranged from 7.9 to 20.4, with a median of 12.0. (How the P/E ratio works.)
Farmers & Merchants Bancorp reported $132.5 million of revenue over the four quarters to , up 16.2% from the twelve months before. In its latest quarter (Q3 FY26, ended ) revenue was $34.4 million, up 11.2% from a year earlier.
Yes. Farmers & Merchants Bancorp earned $42.7 million of net income over the four quarters to , a net margin of 32.2%, and its operating margin was 40.9% (what margins tell you).
FMAO’s diluted earnings per share were $3.12 over the four quarters to , compared with $2.33 in the twelve months before. The latest quarter (Q3 FY26) brought $0.84 per share, against $0.64 a year earlier (how EPS works).
Yes. Farmers & Merchants Bancorp pays a quarterly dividend. The most recent was $0.25 per share, with an ex-dividend date of . Over the last twelve months it paid $0.94 per share, a 2.59% yield at the close, and the full-year dividend has risen 14 years in a row (how dividend yield works).
Based on the last 12 months’ payments ($0.94 per share), and if the next 12 months match the last 12, 100 shares would receive about $94 over 12 months, and $1,000 over 12 months would take about 1,064 shares, roughly $38,676 at the close. Dividends can change.
Over the past 52 weeks FMAO has traded as low as $22.91 and as high as $38.33. At $36.35 at the close on , it is 5.2% below that high and 58.7% above the low.
FMAO’s highest closing price was $57.50 on , adjusted for stock splits. At $36.35 at the close on , it is 36.8% below that record.
Yes, once: 2-for-1 on . One share bought before the first split would be 2 shares today.
Including dividends and measured to the close on , FMAO has returned +50.6% so far this year and +54.9% over the past year, and +64.4% over five years (+10.5% a year). Over the same periods the S&P 500, measured by SPY, returned +8.7%, +10.9% and +67.8%. Past performance doesn’t predict future returns.
Farmers & Merchants Bancorp is in the Financial Services sector and the Banks - Regional industry, and is headquartered in Ohio, USA.
Farmers & Merchants Bancorp trades on the Nasdaq under the ticker symbol FMAO. Its price history on this dashboard begins on .
Member SIPC.Low CommissionsLearn More (opens in a new tab)Sponsored. Affiliate link: I may earn a commission. The inclusion of Interactive Brokers’ (IBKR) name, logo or weblink is present pursuant to an advertising arrangement only. IBKR is not a contributor, reviewer, provider or sponsor of content published on this site, and is not responsible for the accuracy of any products or services discussed.
About this data. Data sourced by Tiingo (opens in a new tab). The live price is Tiingo’s real-time price, based on IEX trades and quotes; intraday charts show IEX trades, and volume figures are consolidated totals for completed sessions. Prices are split-adjusted, and total returns assume dividends are reinvested. Financials come from company filings and can lag new reports. Times are Eastern.
This page is for education, not investment advice. Past performance doesn't predict future returns. Logos provided by Logo.dev (opens in a new tab).
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