Farmers & Merchants Bancorp

Chart & Performance

D1W1MN

P/E

8.52

P/S

3.45

EPS

126.17

Div Yield, %

1.71%

Shrs. gr., 5y

-1.12%

Rev. gr., 5y

9.31%

Revenues

218m

+9.34%

Net income

88m

+17.61%

CFO

93m

-8.28%

Dividend

Jun 11, 20248.8 USD/sh

Earnings

Jan 22, 2025

Profile

Farmers & Merchants Bancorp operates as the bank holding company for Farmers & Merchants Bank of Central California that provides various banking services to businesses and individuals. The company accepts various deposit instruments, including checking, savings, money market, time certificates of deposit, and individual retirement accounts. It also offers range of lending products comprising commercial, commercial and residential real estate, real estate construction, agribusiness, and consumer loans, as well as equipment leases and credit card services; commercial products, including term loans, lines of credit and other working capital financing, and letters of credit; and financing products, such as automobile financing, home improvement, and home equity lines of credit. In addition, the company provides various specialized services consisting of credit card programs for merchants, lockbox and other collection services, account reconciliation, investment sweep, online account access, and electronic funds transfers through domestic and international wire and automated clearinghouse; and online banking services. Further, it offers investment products, such as mutual funds and annuities. The company serves its customers through 29 full-service branches and 3 stand-alone automated teller machines in the mid Central Valley of California, including Sacramento, San Joaquin, Solano, Stanislaus, and Merced counties, as well as the east region of the San Francisco Bay Area comprising Napa, Alameda, and Contra Costa counties. Farmers & Merchants Bancorp was founded in 1916 and is headquartered in Lodi, California.

URL

https://www.fmbonline.com

IPO date

Mar 09, 1994

Employees

374

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12	2014‑12
Income
Revenues	217,918 9.34%	199,300 11.11%	179,378 9.99%
Cost of revenue	75,537	67,018	66,194
Unusual Expense (Income)
NOPBT	142,381	132,282	113,184
NOPBT Margin	65.34%	66.37%	63.10%
Operating Taxes	28,239	24,651	21,985
Tax Rate	19.83%	18.64%	19.42%
NOPAT	114,142	107,631	91,199
Net income	88,314 17.61%	75,090 13.20%	66,336 12.94%
Dividends	(12,886)	(12,489)	(12,075)
Dividend yield
Proceeds from repurchase of equity	(20,355)	(20,310)
BB yield
Debt
Debt current		720	1,601
Long-term debt	12,903	13,063	12,842
Deferred revenue		(27,166)	(13,560)
Other long-term liabilities	4,748,863	62,202	(10,310)
Net debt	(1,257,175)	(1,757,136)	(2,010,383)
Cash flow
Cash from operating activities	93,348	101,778	59,963
CAPEX	(4,972)	(4,190)	(2,069)
Cash from investing activities	(146,548)	(315,299)	(296,150)
Cash from financing activities	(124,415)	86,318	567,810
FCF	(26,754)	(2,042,135)	2,356,669
Balance
Cash	254,779	757,553	1,001,771
Long term investments	1,015,299	1,013,366	1,023,055
Excess cash	1,259,182	1,760,954	2,015,857
Stockholders' equity	512,903	428,102	385,620
Invested Capital	4,796,025	4,800,339	1,565,809
ROIC	2.38%	3.38%	3.21%
ROCE	2.68%	2.52%	5.73%
EV
Common stock shares outstanding	757	778	790
Price
Market cap
EV
EBITDA	144,872	134,710	115,816
EV/EBITDA
Interest	38,369	4,840	4,332
Interest/NOPBT	26.95%	3.66%	3.83%