FARMERS & MERCHANTS BANCORP, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $121.4M | $101.5M | $97.3M | $102.6M | $87.1M | $76.6M | $65.4M | $50.7M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $5.9M | $5.4M | $6.4M | $5.9M | $8.2M | $6.1M | $6.3M | $4.2M |
| Operating Income | $42.5M | $32.6M | $86.8M | $54.8M | $36.8M | $35.6M | $37.5M | $24.8M |
| Operating Margin | 35.0% | 32.1% | 89.2% | 53.5% | 42.3% | 46.5% | 57.4% | 48.9% |
| Interest Expense | — | — | $58.4M | $14.4M | $7.3M | $10.4M | $14.8M | $6.6M |
| Pretax Income | $42.5M | $32.6M | $28.4M | $40.5M | $29.5M | $25.2M | $22.8M | $18.3M |
| Income Tax Expense | $9.2M | $6.6M | $5.6M | $8.0M | $6.0M | $5.1M | $4.4M | $3.3M |
| Net Income | $33.3M | $25.9M | $22.8M | $32.5M | $23.5M | $20.1M | $18.4M | $14.9M |
| Net Margin | 27.4% | 25.5% | 23.4% | 31.7% | 27.0% | 26.2% | 28.2% | 29.5% |
| EPS (Basic) | $2.43 | $1.90 | $1.67 | $2.46 | $2.01 | $1.80 | $1.66 | $1.61 |
| EPS (Diluted) | $2.43 | $1.90 | $1.67 | $2.46 | $2.01 | $1.80 | $1.66 | $1.61 |
| Shares Outstanding (Basic) | 13.6M | 13.4M | 13.5M | 13.1M | 11.6M | 11.1M | 11.0M | 9.2M |
| Shares Outstanding (Diluted) | 13.6M | 13.4M | 13.5M | 13.1M | 11.6M | 11.1M | 11.0M | 9.2M |
| Dividends Per Share | $0.90 | $0.88 | $0.85 | $0.81 | $0.71 | $0.66 | $0.61 | $0.56 |