Farmers & Merchants Bancorp

Chart & Performance

D1W1MN

P/E

8.23

P/S

2.68

EPS

121.54

Div Yield, %

0.88%

Shrs. gr., 5y

-1.47%

Rev. gr., 5y

11.88%

Revenues

272m

+24.81%

Net income

88m

+0.16%

CFO

104m

+11.13%

Dividend

Jun 11, 20248.8 USD/sh

Earnings

Jul 15, 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	2024‑12	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12
Income
Revenues	271,977 24.81%	217,918 9.34%	199,300 11.11%
Cost of revenue	77,291	75,537	67,018
Unusual Expense (Income)
NOPBT	194,686	142,381	132,282
NOPBT Margin	71.58%	65.34%	66.37%
Operating Taxes	33,787	28,239	24,651
Tax Rate	17.35%	19.83%	18.64%
NOPAT	160,899	114,142	107,631
Net income	88,457 0.16%	88,314 17.61%	75,090 13.20%
Dividends	(13,017)	(12,886)	(12,489)
Dividend yield
Proceeds from repurchase of equity	(45,261)	(20,355)	(20,310)
BB yield
Debt
Debt current			720
Long-term debt	10,310	12,903	13,063
Deferred revenue			(27,166)
Other long-term liabilities		4,748,863	62,202
Net debt	(525,162)	(1,257,175)	(1,757,136)
Cash flow
Cash from operating activities	103,735	93,348	101,778
CAPEX		(4,972)	(4,190)
Cash from investing activities	(274,580)	(146,548)	(315,299)
Cash from financing activities	(27,234)	(124,415)	86,318
FCF	158,626	(26,754)	(2,042,135)
Balance
Cash	535,472	254,779	757,553
Long term investments		1,015,299	1,013,366
Excess cash	521,873	1,259,182	1,760,954
Stockholders' equity	573,072	512,903	428,102
Invested Capital	4,848,323	4,796,025	4,800,339
ROIC	3.34%	2.38%	3.38%
ROCE	3.63%	2.68%	2.52%
EV
Common stock shares outstanding	731	757	778
Price
Market cap
EV
EBITDA	196,242	144,872	134,710
EV/EBITDA
Interest	65,301	38,369	4,840
Interest/NOPBT	33.54%	26.95%	3.66%