Farmers & Merchants Bancorp (FMAO) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Farmers & Merchants Bancorp had a P/E ratio of 10.21 (down from 15.69), return on equity of 9.4% (up from 8.0%), debt-to-equity of 0.83 (down from 0.94) and return on assets of 1.0% (up from 0.8%). Its dividend yield was 3.70% with a payout ratio of 36.3%.

Farmers & Merchants Bancorp Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	10.21	15.69	14.89	11.38	18.28	12.73
Forward P/E	9.53	15.75	18.44	9.98	15.49	12.85
P/S Ratio	2.81	3.94	3.51	3.75	5.09	3.67
P/B Ratio	0.91	1.19	1.06	1.23	1.43	1.02
Price/Tangible Book	1.18	1.60	1.46	1.73	1.97	1.26
Price/FCF	9.61	13.04	29.93	9.63	13.00	10.50
Price/OCF	9.14	12.29	15.16	9.02	12.26	9.27
Enterprise Value Ratios
Profitability & Returns
Return on Equity (ROE)	9.44%	7.96%	7.41%	10.92%	8.60%	8.38%
Return on Assets (ROA)	0.98%	0.78%	0.72%	1.15%	1.03%	1.14%
Leverage & Solvency Ratios
Debt/Equity	0.83	0.94	1.06	0.76	0.43	0.19
Debt/FCF	8.79	10.31	29.83	5.94	3.90	1.99
Liquidity Ratios
Efficiency Ratios
Yield & Distribution Ratios
Earnings Yield	9.91%	6.50%	6.79%	8.86%	5.51%	7.92%
FCF Yield	10.41%	7.67%	3.34%	10.38%	7.69%	9.52%
Dividend Yield	3.70%	3.16%	3.74%	3.34%	2.52%	3.38%
Payout Ratio	36.28%	45.96%	49.74%	31.60%	32.65%	35.76%
Buyback Yield	-1.05%	0.55%	-3.07%	-13.15%	-4.60%	-0.28%
Total Return	2.65%	3.71%	0.68%	-9.81%	-2.08%	3.10%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Farmers & Merchants Bancorp Financial Ratios

What is Farmers & Merchants Bancorp's P/E ratio?

Farmers & Merchants Bancorp's P/E ratio was 10.21 for fiscal 2025 (period ended Dec 31, 2025). It was 15.69 a year earlier.

What is Farmers & Merchants Bancorp's return on equity?

Farmers & Merchants Bancorp's return on equity (ROE) was 9.4% for fiscal 2025 (period ended Dec 31, 2025). It was 8.0% a year earlier.

What is Farmers & Merchants Bancorp's debt-to-equity ratio?

Farmers & Merchants Bancorp's debt-to-equity ratio was 0.83 for fiscal 2025 (period ended Dec 31, 2025). It was 0.94 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition