Farmers & Merchants Bancorp, Inc. (FMAO) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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FMAO Revenue Growth
Revenue Breakdown (FY 2025)
FMAO's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
FMAO Revenue Analysis (2014–2025)
As of May 8, 2026, Farmers & Merchants Bancorp, Inc. (FMAO) generated trailing twelve-month (TTM) revenue of $188.0 million, reflecting solid growth of +7.3% year-over-year. The most recent quarter (Q4 2025) recorded $48.6 million in revenue, up 1.7% sequentially.
Looking at the longer-term picture, FMAO's 5-year compound annual growth rate (CAGR) stands at +17.3%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $189.1 million in 2025, representing a new all-time high.
Revenue diversification analysis shows FMAO's business is primarily driven by Financial Service, Other (78%), and Bank Servicing (22%). With over half of revenue concentrated in Financial Service, Other, the company maintains significant focus in this area while developing other growth vectors.
When compared to Financial Services sector peers including CZWI, MVBF, and HFWA. Compare FMAO vs CZWI →
FMAO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FMAOCurrent | $188M | +7.3% | +17.3% | 22.5% | |
 CZWI | $90M | - | - | 7.0% | |
 MVBF | $270M | - | - | 13.6% | |
 HFWA | $336M | - | - | 23.2% | |
 OVBC | $94M | - | - | 20.6% | |
 FXNC | $112M | - | - | 19.6% |
FMAO Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $189.1M | - | $117.8M | 62.3% | $42.5M | 22.5% |
| 2024 | $176.6M | - | $98.6M | 55.9% | $32.6M | 18.4% |
| 2023 | $152.0M | - | $91.9M | 60.4% | $28.4M | 18.6% |
| 2022 | $113.7M | - | $94.7M | 83.3% | $40.5M | 35.6% |
| 2021 | $92.2M | - | $81.4M | 88.3% | $29.5M | 32.0% |
| 2020 | $85.3M | - | $67.9M | 79.6% | $25.2M | 29.6% |
| 2019 | $78.3M | - | $62.4M | 79.7% | $22.8M | 29.1% |
| 2018 | $55.9M | - | $49.0M | 87.7% | $18.3M | 32.6% |
| 2017 | $50.8M | - | $45.4M | 89.5% | $17.9M | 35.3% |
| 2016 | $47.8M | - | $42.5M | 88.8% | $16.3M | 34.1% |
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Start ComparisonFMAO — Frequently Asked Questions
Quick answers to the most common questions about buying FMAO stock.
Is FMAO's revenue growth accelerating or slowing?
FMAO maintains +7.3% revenue growth, in line with its 5-year CAGR of +17.3%. TTM revenue stands at $188M. Growth rate remains consistent with historical average.
What is FMAO's long-term revenue growth rate?
Farmers & Merchants Bancorp, Inc.'s 5-year revenue CAGR of +17.3% reflects the sustained expansion pattern. Current YoY growth of +7.3% is near this long-term average.
How is FMAO's revenue distributed by segment?
FMAO reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.