Farmers & Merchants Bancorp, Inc.
FMAOFinancial ServicesNASDAQBanks - Regional
Scan Results
Daily timeframeHeadquartered within the financial services sector, Farmers & Merchants Bancorp, Inc. focuses on Banks - Regional services and products. Farmers & Merchants Bancorp, Inc. The $420.9M market capitalization puts FMAO squarely in small-cap range for its industry. 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.
Market Cap
$420.9M
Beta
0.81
P/E (TTM)
12.04
P/E (Fwd)
10.14
EPS (TTM)
$2.54
EPS (Fwd)
$3.01
ROE
10.0%
ROA
1.1%
Cash
$174.7M
Total Debt
$269.7M
Free CF
—
52W Change
17.8%
Annual Financials
Cash vs Debt
On the balance sheet, FMAO has $174.7M in cash with $269.7M in obligations. The ability to service this debt comfortably depends on continued operational cash generation. ROE of 10.0% points to decent capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 1.1% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $84.8M (2021) to $117.6M (2025), reflecting a 39% increase over the period.
As with any equity investment, FMAO carries market risk, sector-specific risk, and company-specific risk that investors should evaluate in the context of their own portfolios. These risk factors are not exhaustive — macroeconomic shifts, regulatory changes, and competitive dynamics can all influence Farmers & Merchants Bancorp, Inc.'s trajectory.