Farmers and Merchants Bancshares, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $26.4M | $22.6M | $23.0M | $26.4M | $25.0M | $19.4M | $16.5M | $16.6M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $7.4M | $5.5M | $18.3M | $12.7M | $13.4M | $6.6M | $9.3M | $8.3M |
| Operating Margin | 28.0% | 24.4% | 79.7% | 48.2% | 53.5% | 34.2% | 56.2% | 50.1% |
| Interest Expense | — | — | $9.9M | $2.1M | $2.8M | $3.5M | $3.7M | $2.5M |
| Pretax Income | $7.4M | $5.5M | $8.4M | $10.6M | $10.6M | $3.2M | $5.6M | $5.8M |
| Income Tax Expense | $1.6M | $1.2M | $2.0M | $2.5M | $2.4M | $487.2K | $1.0M | $1.1M |
| Net Income | $5.8M | $4.3M | $6.4M | $8.1M | $8.1M | $2.7M | $4.6M | $4.7M |
| Net Margin | 21.9% | 18.9% | 27.9% | 30.6% | 32.5% | 13.8% | 27.6% | 28.3% |
| EPS (Basic) | $1.81 | $1.37 | $2.08 | $2.66 | $2.70 | $0.90 | $1.54 | $1.61 |
| EPS (Diluted) | $1.81 | $1.37 | $2.08 | $2.66 | $2.70 | $0.90 | $1.54 | $1.61 |
| Shares Outstanding (Basic) | 3.2M | 3.1M | 3.1M | 3.0M | 3.0M | 3.0M | 3.0M | 2.9M |
| Shares Outstanding (Diluted) | 3.2M | 3.1M | 3.1M | 3.0M | 3.0M | 3.0M | 3.0M | 2.9M |
| Dividends Per Share | — | $0.67 | $0.66 | $0.63 | $0.57 | $0.52 | $0.51 | $0.47 |