FARMERS & MERCHANTS BANCORP
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2016 | — | 45.3% | 26.9% |
| FY2017 | — | 48.6% | 22.7% |
| FY2018 | — | 48.1% | 32.4% |
| FY2019 | — | 56.1% | 35.5% |
| FY2020 | — | 53.0% | 35.6% |
| FY2021 | — | 50.9% | 36.4% |
| FY2022 | — | 52.4% | 37.6% |
| FY2023 | — | 67.3% | 38.3% |
| FY2024 | — | 53.8% | 38.9% |
| FY2025 | — | 53.0% | 38.6% |