Farmers & Merchants Bancorp (NASDAQ: FMAO) financial statements
The consolidated income statement, balance sheet and cash flow statement of Farmers & Merchants Bancorp for its last 10 fiscal years, as filed with the regulator, in millions of US dollars. At the end of fiscal 2025 it had $3,434m in total assets and $370.9m in equity.
Income statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $121.4m | $101.5m | $97.3m | $102.6m | $87.1m | $76.6m | $65.4m | $50.7m | $46.9m | $44.9m |
| Operating profit | $42.5m | $32.6m | $28.4m | $40.5m | $29.5m | $25.2m | $22.8m | $18.3m | $17.9m | $16.3m |
| Finance costs | $69.3m | $77.7m | $58.4m | $14.4m | $7.3m | $10.4m | $14.8m | $6.6m | $5.1m | $4.2m |
| Profit before tax | $42.5m | $32.6m | $28.4m | $40.5m | $29.5m | $25.2m | $22.8m | $18.3m | $17.9m | $16.3m |
| Income tax | $9.2m | $6.6m | $5.6m | $8.0m | $6.0m | $5.1m | $4.4m | $3.3m | $5.2m | $4.7m |
| Net profit | $33.3m | $25.9m | $22.8m | $32.5m | $23.5m | $20.1m | $18.4m | $14.9m | $12.7m | $11.7m |
| Earnings per share | $2.43 | $1.90 | $1.67 | $2.46 | $2.01 | $1.80 | — | — | — | — |
| Diluted earnings per share | $2.43 | $1.90 | $1.67 | $2.46 | $2.01 | $1.80 | $1.66 | $1.61 | $1.38 | $2.53 |
| Depreciation and amortisation | $5.3m | $5.5m | $5.1m | $3.7m | $3.3m | $3.2m | $3.0m | $1.9m | $1.8m | $1.8m |
Balance sheet
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $3,434m | $3,365m | $3,283m | $3,015m | $2,638m | $1,910m | $1,607m | $1,116m | $1,107m | $1,056m |
| Property, plant and equipment | $31.9m | $33.8m | $35.8m | $28.4m | $26.9m | $27.1m | $26.3m | $22.6m | $21.6m | $21.5m |
| Goodwill | $86.4m | $86.4m | $86.4m | $86.4m | $80.4m | $47.3m | $47.3m | $4.1m | $4.1m | $4.1m |
| Total liabilities | $3,064m | $3,030m | $2,967m | $2,717m | $2,341m | $1,660m | $1,377m | $972.9m | $972.9m | $930.3m |
| Equity | $370.9m | $335.2m | $316.5m | $298.1m | $297.2m | $249.2m | $230.3m | $143.3m | $134.1m | $125.6m |
| Equity including minorities | $370.9m | $335.2m | $316.5m | $298.1m | $297.2m | $249.2m | $230.3m | $143.3m | $134.1m | $125.6m |
Cash flow statement
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $36.7m | $32.5m | $22.1m | $40.7m | $34.7m | $27.4m | $23.9m | $10.7m | $17.6m | $12.4m |
| Investing cash flow | −$138.7m | −$44.4m | −$194.1m | −$389.9m | −$265.7m | −$177.7m | −$149.3m | $1.5m | −$48.2m | −$64.2m |
| Financing cash flow | $23.3m | $46.0m | $229.7m | $252.8m | $236.1m | $274.8m | $138.3m | −$8.3m | $36.7m | $58.1m |
| Capital expenditure | −$1.8m | −$1.9m | −$10.9m | −$2.6m | −$2.0m | −$3.2m | −$3.5m | −$2.6m | −$1.9m | −$2.4m |
| Dividends paid | −$12.1m | −$11.9m | −$11.3m | −$10.3m | −$7.7m | −$7.2m | −$6.3m | −$5.0m | −$4.4m | −$4.1m |
Where each figure comes from
From the annual report (Form 10-K) that Farmers & Merchants Bancorp files with the SEC. The filing for each fiscal year: 2025 · 2024 · 2023 · 2022 · 2021 · 2020 · 2019 · 2018 · 2017 · 2016. If an item is not tagged in the filing, it is not in the table. The summary of the last fiscal year is on the Farmers & Merchants Bancorp page.
Dividend per share of Farmers & Merchants Bancorp by fiscal year, with the filing behind every figure: Farmers & Merchants Bancorp dividend history.
Information prepared from the accounts the company files with the regulator, for information purposes only. It is not financial advice or a recommendation to buy or sell. Updated on 12 November 2026.