Farmers & Merchants Bancorp, Inc. (FMAO) Earnings History
Growth Compounder28 years of earnings data (1998–2025) · Consistent double-digit EPS growth over 5 years
Loading earnings history...
Farmers & Merchants Bancorp, Inc. (FMAO) Earnings Overview
As of June 22, 2026, Farmers & Merchants Bancorp, Inc. (FMAO) reported trailing twelve-month net income of $33M, reflecting +79.5% year-over-year growth. The company earned $2.41 per diluted share over the past four quarters, with a net profit margin of 17.6%.
Looking at the long-term picture, FMAO's 5-year EPS compound annual growth rate (CAGR) stands at +13.6%, showing solid earnings momentum. The company achieved its highest annual net income of $33M in fiscal 2025, representing a new all-time high.
Farmers & Merchants Bancorp, Inc. maintains industry-leading profitability with a gross margin of 62.3%, operating margin of 22.5%, and net margin of 17.6%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including CZWI ($14M net income, 16.0% margin), MVBF ($27M net income, 10.0% margin), HFWA ($68M net income, 20.1% margin), FMAO has outperformed on profitability metrics. Compare FMAO vs CZWI →
FMAO Earnings vs Peers
Earnings metrics vs comparable public companies
FMAO Historical Earnings Data (1998–2025)
28 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $33M | +28.4% | $43M | $3.41 | 17.6% | 22.5% |
| 2024 | $26M | +13.8% | $33M | $1.90 | 14.7% | 18.4% |
| 2023 | $23M | -29.9% | $28M | $1.67 | 15.0% | 18.6% |
| 2022 | $33M | +38.4% | $40M | $2.46 | 28.6% | 35.6% |
| 2021 | $23M | +16.9% | $29M | $2.01 | 25.5% | 32.0% |
| 2020 | $20M | +9.2% | $25M | $1.80 | 23.6% | 29.6% |
| 2019 | $18M | +23.1% | $23M | $1.66 | 23.5% | 29.1% |
| 2018 | $15M | +17.5% | $18M | $1.61 | 26.7% | 32.6% |
| 2017 | $13M | +9.1% | $18M | $1.38 | 25.0% | 35.3% |
| 2016 | $12M | +12.8% | $16M | $1.26 | 24.4% | 34.1% |
| 2015 | $10M | +7.2% | $14M | $1.12 | 23.3% | 31.9% |
| 2014 | $10M | +7.1% | $14M | $1.04 | 22.2% | 31.1% |
| 2013 | $9M | -8.0% | $13M | $0.97 | 21.4% | 29.9% |
| 2012 | $10M | +15.0% | $14M | $1.04 | 22.1% | 31.0% |
| 2011 | $9M | +22.0% | $11M | $0.90 | 19.6% | 26.2% |
| 2010 | $7M | +5.7% | $9M | $0.74 | 14.5% | 19.5% |
| 2009 | $7M | -1.8% | $9M | $0.70 | 13.5% | 18.6% |
| 2008 | $7M | -13.1% | $9M | $0.70 | 13.4% | 18.2% |
| 2007 | $8M | -4.9% | $11M | $0.76 | 14.9% | 20.4% |
| 2006 | $8M | -5.1% | $11M | $0.78 | 16.7% | 23.1% |
| 2005 | $9M | +4.2% | $12M | $0.83 | 19.3% | 26.4% |
| 2004 | $8M | +7.9% | $12M | $1.30 | 19.2% | 27.6% |
| 2003 | $8M | -43.2% | $10M | $1.25 | 15.5% | 20.5% |
| 2002 | $13M | +8.9% | $20M | $2.28 | 41.4% | 63.2% |
| 2001 | $12M | +11.8% | $20M | $2.14 | 37.7% | 61.7% |
| 2000 | $11M | +19.6% | $18M | $1.90 | 32.2% | 51.7% |
| 1999 | $9M | +14.3% | $14M | $1.66 | 35.1% | 53.9% |
| 1998 | $8M | - | $12M | $1.52 | 32.7% | 49.1% |
Download Data
Export FMAO earnings history in CSV or JSON format
Free sign-in required to download data
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
28+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
FMAO — Frequently Asked Questions
Quick answers to the most common questions about buying FMAO stock.
What is FMAO earnings per share (EPS)?
FMAO trailing twelve-month (TTM) diluted EPS is $2.41, reflecting +79.5% year-over-year growth. The 5-year EPS CAGR is +13.6%. Complete EPS history from 1998 to 2025 is available in the table on this page.
What is Farmers & Merchants Bancorp, Inc.'s net income?
Farmers & Merchants Bancorp, Inc. (FMAO) trailing twelve-month net income is $33M as of 2025. Earnings grew +79.5% year-over-year. Farmers & Merchants Bancorp, Inc. has been profitable for 28 consecutive years.
Is FMAO profitable?
Yes, FMAO is profitable with a TTM net income of $33M and a net profit margin of +17.6%. Farmers & Merchants Bancorp, Inc. has generated profits for 28 consecutive years.
What is FMAO's earnings growth rate?
FMAO compound annual EPS growth rates (CAGR): 1-Year: +79.5%, 3-Year: +11.5%, 5-Year: +13.6%, 10-Year: +11.8%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1998 to 2025.
What are FMAO's profit margins?
Farmers & Merchants Bancorp, Inc. net profit margin is +17.6%, operating margin is +22.5%, and gross margin is +62.3%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +9.4%.
Is FMAO growing earnings?
Yes, FMAO earnings are accelerating — EPS growth of +79.5% exceeds the 5-year CAGR of +13.6%. TTM net income reached $33M. Earnings momentum is strengthening.
What was FMAO's best earnings year?
Farmers & Merchants Bancorp, Inc.'s highest annual net income on record is $33M, achieved in fiscal year 2025. Earnings history on this page spans 1998 to 2025 and includes all annual and quarterly figures.
What were FMAO's earnings last quarter?
FMAO's most recent reported quarter was Q4 2025. Net income was $10M with diluted EPS of $0.71. For a full breakdown of all quarters, see the quarterly earnings table on this page.