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Farmers & Merchants Bancshares, Inc. FMFG

OTC · stock · Savings Institutions, Not Federally Chartered · website · IPO 2001-06-21

Farmers & Merchants Bancshares, Inc. statistics & valuation

Profitability & efficiency

Gross margin (%)
2017201820192020202020212022202320242025
Operating margin (%)
2017201820192020202020212022202320242025
Return on equity (%)
9.10% 10.40% 9.20% 2.30% 5.20% 14.40% 16.90% 12.30% 7.60% 8.90% 2017201820192020202020212022202320242025
Shares outstanding
2.9M 2.9M 3.0M 3.0M 3.0M 3.0M 3.1M 3.1M 3.2M 3.2M 2017201820192020202020212022202320242025
Net debt ($)
$17.0M $17.0M $15.1M $13.2M $11.3M $12.0M 2017201820192020202020212022202320242025
Share buybacks ($)
2017201820192020202020212022202320242025
Return on assets (%)
0.90% 1.10% 1.00% 0.20% 0.40% 1.10% 1.10% 0.80% 0.50% 0.70% 2017201820192020202020212022202320242025
Free cash flow margin (%)
2017201820192020202020212022202320242025
Debt / equity (×)
0.33× 0.30× 0.32× 0.25× 0.20× 0.19× 2017201820192020202020212022202320242025
EPS ($)
$2.66 $2.08 $1.37 $1.81 2017201820192020202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Farmers & Merchants Bancshares, Inc. trades at about 10.4× earnings — near its 10-year norm (10-year range 7.8×–11.7×, median 10.6×).

7.8× 11.7×

Shaded band = 10-year range (7.8×–11.7×); dot = today's 10.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2020FY2019FY2018FY2017
Return on assets0.7%0.5%0.8%1.1%1.1%0.4%0.2%1.0%1.1%0.9%
Return on equity8.9%7.6%12.3%16.9%14.4%5.2%2.3%9.2%10.4%9.1%
Debt / equity0.19×0.20×0.25×0.32×0.30×0.33×————

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.