Farmers & Merchants Bancorp, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $33.3M | $25.9M | $22.8M | $32.5M | $23.5M | $20.1M | $18.4M | $14.9M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $3.6M | $3.8M | $3.4M | $2.7M | $2.6M | $2.5M | $2.3M | $1.7M |
| Amortization | $1.7M | $1.7M | $1.7M | $1.0M | $677.0K | $720.0K | $727.0K | $167.0K |
| Stock-Based Compensation | $1.4M | $1.4M | $1.3M | $899.0K | $822.0K | $1.0M | $1.1M | $745.0K |
| Net Cash from Operating Activities | $36.7M | $32.5M | $22.1M | $40.7M | $34.7M | $27.4M | $23.9M | $10.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $1.8M | $1.9M | $10.9M | $2.6M | $2.0M | $3.2M | $3.5M | $2.6M |
| Business Acquisitions | — | — | — | — | — | — | $2.1M | — |
| Net Cash from Investing Activities | $-138.7M | $-44.4M | $-194.1M | $-389.9M | $-265.7M | $-177.7M | $-149.3M | $1.5M |
| Financing Activities | ||||||||
| Dividends Paid | $12.1M | $11.9M | $11.3M | $10.3M | $7.7M | $7.2M | $6.3M | $5.0M |
| Stock Repurchases | $362.0K | $664.0K | $218.0K | $308.0K | $338.0K | $383.0K | $381.0K | $490.0K |
| Net Cash from Financing Activities | $23.3M | $46.0M | $229.7M | $252.8M | $236.1M | $274.8M | $138.3M | $-8.3M |
| Net Change in Cash | $-78.6M | $34.2M | $57.8M | $-96.4M | $5.1M | $124.4M | $12.9M | $3.9M |
| Free Cash Flow | $35.0M | $30.6M | $11.2M | $38.1M | $32.8M | $24.2M | $20.4M | $8.1M |