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Farmers & Merchants Bancshares, Inc.

Data quality: 83%
FMFG
OTC Financial Services Depository Institutions
$18.01
▲ $0.03 (0.17%)
6 months return
—
Momentum
Neutral
1Y earnings growth
34.78%

Growth

Revenue Growth (5Y)
N/A
Revenue (1Y)N/A
Earnings (1Y)34.78%
FCF Growth (3Y)1.23%

Quality

Return on Equity
9.34%
Above sector avg (9.22%)
ROICN/A
Net MarginN/A
Op. MarginN/A

Safety

Debt / Equity
0.19
Below sector avg (0.49)
Current RatioN/A
Interest CoverageN/A

Valuation

PE (TTM)
10.09
Below sector avg (11.12)
P/B Ratio0.92
EV/EBITDAN/A
Dividend Yield3.78%

Quick Summary

Key Takeaways

Short bullets derived from reported financials—not the AI summary above.

Earnings grew 34.78% over the past year
Debt/Equity of 0.19 — conservative balance sheet
Generating 6.05 M in free cash flow
P/E of 10.09 — trading at a low valuation
Cash machine — converts 104.93% of earnings into free cash flow
Dividend yield of 3.78% — meaningful income

Price History

Financial Trends

Analyst Price Target

No analyst coverage available

Growth

Rev 5Y: N/A · Earnings 1Y: 34.78%
Revenue Growth (1Y) N/A Revenue Growth (3Y) N/A
Earnings Growth (1Y) 34.78% Earnings Growth (3Y) -5.22%
Revenue Growth (5Y) N/A Earnings Growth (5Y) -8.29%

Profitability

ROE: 9.34% · Net Margin: N/A
Revenue (TTM) N/A Net Income (TTM) 5.77 M
ROE 9.34% ROA 0.67%
Gross Margin N/A Operating Margin N/A
Net Margin N/A Free Cash Flow (TTM) 6.05 M
ROIC N/A FCF Growth (3Y) 1.23%

Safety

D/E: 0.19 · Current: N/A
Debt / Equity 0.19 Current Ratio N/A
Interest Coverage N/A Asset Turnover N/A
Working Capital N/A Tangible Book Value 56.19 M

Dividends

Yield: 3.78% · Payout: 37.57%
Dividend Yield 3.78% Payout Ratio 37.57%
Dividend Growth (3Y) 2.58% Dividend Growth (5Y) 5.51%
Consecutive Div Years 20 yrs

Valuation

P/E: 10.09 · EV/EBITDA: N/A
P/E Ratio 10.09 Forward P/E N/A
P/B Ratio 0.92 P/S Ratio N/A
PEG Ratio N/A Forward PEG N/A
EV/EBITDA N/A Fwd EV/EBITDA N/A
Forward P/S N/A Fwd Earnings Yield N/A
FCF Yield 10.40%
Market Cap 58.18 M Enterprise Value 70.20 M

Per Share

EPS: 1.81 · FCF/Share: 1.87
EPS (Diluted TTM) 1.81 Revenue / Share N/A
FCF / Share 1.87 OCF / Share 1.87
EPS CAGR (1Y) 32.12% EPS CAGR (5Y) N/A
EPS CAGR (10Y) N/A

Efficiency

FCF Conv: 104.93% · CapEx/Rev: N/A
CapEx / Revenue N/A FCF Conversion 104.93%
SBC-Adj. FCF 5.88 M Growth Momentum N/A

Income Statement

Annual, most recent first
Metric FY2025 FY2024 FY2023 FY2022 FY2021
Revenue — — — — —
Net Income 5.77 M 4.28 M 6.42 M 8.09 M 8.15 M
EPS (Diluted) 1.81 1.37 2.08 — —
Gross Profit — — — — —
Operating Income — — — — —
EBITDA — — — — —
R&D Expenses — — — — —
SG&A Expenses — — — — —
D&A 578,000.0 559,000.0 466,559.0 445,939.0 434,434.0
Interest Expense 24.39 M 20.84 M 9.91 M 2.15 M 2.81 M
Income Tax 1.61 M 1.23 M 2.02 M 2.49 M 2.43 M

Balance Sheet

Annual, most recent first
Metric FY2025 FY2024 FY2023 FY2022 FY2021
Total Assets 871.96 M 844.64 M 799.94 M 718.21 M 716.68 M
Total Liabilities 807.30 M 788.37 M 747.76 M 670.44 M 660.06 M
Shareholders' Equity 64.66 M 56.27 M 52.18 M 47.77 M 56.62 M
Total Debt 12.04 M 11.33 M 13.21 M 15.10 M 16.98 M
Cash & Equivalents — — — — —
Current Assets — — — — —
Current Liabilities — — — — —

Peer Comparison

vs Financial Services sector median (6628 peers)
Metric Stock Sector Median
P/E 10.1 11.1
P/B 0.9 1.2
ROE % 9.3 9.2
Net Margin % — 9.4
Rev Growth 5Y % — 5.8
D/E 0.2 0.5

Dividend History

Yield

3.78%

Payout ratio

37.57%

Growth (3Y)

2.58%

Growth (5Y)

5.51%

Recent per-share payments (most recent first).

Ex-dividend Payment Amount / share
Dec 05, 2025 — $0.34
Jul 11, 2025 — $0.34
Dec 03, 2024 — $0.34
Jun 03, 2024 — $0.33
Nov 30, 2023 — $0.33
Jun 01, 2023 — $0.33
Dec 01, 2022 — $0.32
Jun 02, 2022 — $0.31
Dec 02, 2021 — $0.29
Jun 03, 2021 — $0.28
Dec 03, 2020 — $0.26
Jun 04, 2020 — $0.26

Strategy Scores

1 strategy matched
Value Deep Value Investing (Seth Klarman)
#96 of 172
31

Recent Activity

Entered Deep Value Investing (Seth Klarman)
Apr 12, 2026