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How does FMFG make money? Does FMFG have pricing power? What's the Earnings Whisper? Will FMFG profit more as the business scales? What is FMFG's management track record? Is FMFG's current price justified?

Farmers and Merchants Bancshares, Inc.

$18.71 +$1.49 (+8.65%)

OTC · 11 Sep 2026 20:00 UTC

Previous Close

$18.71

Day Range

$18.6$18.71

Year Range

$15.75$21

Market Cap

60.54M

AVG Volume

949

Trailing/Forward PE

8.35/-

PEG ratio

0.13

Dividend Yield

3.74%

Next Earnings Date

Primary Exchange

Other OTC

Revenue (USD)

FMFG Revenue (USD) by quarter
Period	Revenue (USD)
26 Q2	11.54M
26 Q1	11.54M
25 Q4	11.9M
25 Q3	11.44M
25 Q2	10.58M
25 Q1	10.23M
24 Q4	10.52M
24 Q3	10.13M
24 Q2	9.39M
24 Q1	9.44M

Net Income (USD)

FMFG Net Income (USD) by quarter
Period	Net Income (USD)
26 Q2	1.9M
26 Q1	1.82M
25 Q4	1.7M
25 Q3	1.71M
25 Q2	1.2M
25 Q1	1.17M
24 Q4	856.38K
24 Q3	1.12M
24 Q2	1.08M
24 Q1	1.22M

Operating Income (USD)

FMFG Operating Income (USD) by quarter
Period	Operating Income (USD)
26 Q2	2.51M
26 Q1	2.46M
25 Q4	2.25M
25 Q3	2.17M
25 Q2	1.48M
25 Q1	1.48M
24 Q4	1.09M
24 Q3	1.46M
24 Q2	1.38M
24 Q1	1.56M

EBITDA (USD)

FMFG EBITDA (USD) by quarter
Period	EBITDA (USD)
26 Q2	2.68M
26 Q1	2.64M
25 Q4	2.43M
25 Q3	2.35M
25 Q2	1.67M
25 Q1	1.66M
24 Q4	1.28M
24 Q3	1.63M
24 Q2	1.54M
24 Q1	1.7M

Cash Flows (USD)

FMFG Cash Flows (USD) by quarter
Period	Cash Flows (USD)
26 Q2	-2.08M
26 Q1	1.56M
25 Q4	2.02M
25 Q3	2.08M
25 Q2	1.21M
25 Q1	484K
24 Q4	-205.01K
24 Q3	363.71K
24 Q2	1.13M
24 Q1	-315.9K

EPS (USD)

FMFG EPS (USD) by quarter
Period	EPS (USD)
26 Q2	0.59
26 Q1	0.58
25 Q4	0.53
25 Q3	0.54
25 Q2	0.38
25 Q1	0.37
24 Q4	0.27
24 Q3	0.36
24 Q2	0.35
24 Q1	0.39

Expenses (USD)

FMFG Expenses (USD) by quarter
Period	Expenses (USD)
26 Q2	2.96M
26 Q1	2.97M
25 Q4	3.19M
25 Q3	3.06M
25 Q2	3.01M
25 Q1	2.95M
24 Q4	3.35M
24 Q3	2.54M
24 Q2	2.92M
24 Q1	3.54M

Cash & Debt (USD)

FMFG Cash & Debt (USD) by quarter
Period	Cash & Debt (USD)
26 Q2	163.41M
26 Q1	160.62M
25 Q4	164.84M
25 Q3	166.28M
25 Q2	145.38M
25 Q1	145.66M
24 Q4	183.6M
24 Q3	175.87M
24 Q2	181.84M
24 Q1	187.6M

Debt ratios

FMFG Debt ratios by quarter
Period	Debt ratios
26 Q2	-8.82
26 Q1	-9.07
25 Q4	-10.57
25 Q3	-14.57
25 Q2	-19.24
25 Q1	-21.14
24 Q4	-26.3
24 Q3	-23.1
24 Q2	-21.21
24 Q1	-20.65

Margins

FMFG Margins by quarter
Period	Margins
26 Q2	63.21%
26 Q1	62.05%
25 Q4	59.92%
25 Q3	56.88%
25 Q2	57.09%
25 Q1	56.8%
24 Q4	52.68%
24 Q3	52.99%
24 Q2	56.89%
24 Q1	58.74%

Return on Capital

FMFG Return on Capital by quarter
Period	Return on Capital
26 Q2	2.8%
26 Q1	2.76%
25 Q4	2.62%
25 Q3	2.7%
25 Q2	1.99%
25 Q1	1.99%
24 Q4	1.52%
24 Q3	1.9%
24 Q2	1.98%
24 Q1	2.3%

Shares Outstanding

FMFG Shares Outstanding by quarter
Period	Shares Outstanding
26 Q2	3.15M
26 Q1	3.15M
25 Q4	3.15M
25 Q3	3.15M
25 Q2	3.15M
25 Q1	3.15M
24 Q4	3.13M
24 Q3	3.15M
24 Q2	3.13M
24 Q1	3.12M

Dividends (USD)

FMFG Dividends (USD) by quarter
Period	Dividends (USD)
Jun 26	0.36
Dec 25	0.34
Jul 25	0.34
Dec 24	0.34
Jun 24	0.33
Nov 23	0.33
Jun 23	0.33
Dec 22	0.32
Jun 22	0.31
Dec 21	0.29

Employee Count

FMFG Employee Count by quarter
Period	Employee Count
2025	91
2024	94
2023	90
2022	87
2021	81
2020	86
2019	88
2018	71
2017	87

Book Value Per Share (USD)

FMFG Book Value Per Share (USD) by quarter
Period	Book Value Per Share (USD)
26 Q2	21.47
26 Q1	20.99
25 Q4	20.54
25 Q3	20.06
25 Q2	19.13
25 Q1	18.59
24 Q4	17.96
24 Q3	18.81
24 Q2	17.44
24 Q1	17.03

Total Assets (USD)

FMFG Total Assets (USD) by quarter
Period	Total Assets (USD)
26 Q2	874.21M
26 Q1	863.39M
25 Q4	871.96M
25 Q3	869.8M
25 Q2	842.22M
25 Q1	817.56M
24 Q4	844.64M
24 Q3	817.53M
24 Q2	798.56M
24 Q1	794.59M

PE Ratio

FMFG PE Ratio by quarter
Period	PE Ratio
Sep 26	8.27
Sep 26	8.27
Aug 26	8.22
Aug 26	8.19
Aug 26	8.41
Aug 26	9.56
Jul 26	9.56
Jul 26	9.31
Jul 26	9.26
Jul 26	9.21
Jul 26	9.31
Jun 26	8.82
Jun 26	8.76
Jun 26	8.45
Jun 26	8.32
May 26	8.54
May 26	8.62
May 26	8.57
May 26	9.65
May 26	9.5
Apr 26	9.81
Apr 26	9.55
Apr 26	9.82
Apr 26	9.39
Mar 26	9.39
Mar 26	11.42
Mar 26	11.22
Mar 26	11.22
Feb 26	11.86
Feb 26	12.16
Feb 26	13.09
Feb 26	12.27
Jan 26	12.27
Jan 26	12.27
Jan 26	11.18
Jan 26	11.03
Jan 26	11.01
Dec 25	10.88
Dec 25	10.74
Dec 25	10.69
Dec 25	10.74
Nov 25	10.78
Nov 25	10.78
Nov 25	10.42
Nov 25	12.05
Oct 25	11.78
Oct 25	11.74
Oct 25	11.43
Oct 25	11.42
Oct 25	12.24
Sep 25	12.11
Sep 25	12.11
Sep 25	12.11
Sep 25	11.78
Aug 25	11.78
Aug 25	11.67
Aug 25	12.07
Aug 25	12.41
Aug 25	12.41
Jul 25	12.44
Jul 25	12.43
Jul 25	11.93
Jul 25	11.93
Jun 25	12.49
Jun 25	12.49
Jun 25	12.3
Jun 25	12.67
May 25	12.12
May 25	12.12
May 25	11.93
May 25	11.72
May 25	11.72
Apr 25	11.72
Apr 25	10.98
Apr 25	10.98
Apr 25	11.53
Mar 25	11.72
Mar 25	13.18
Mar 25	12.08
Mar 25	11.05
Feb 25	10.73
Feb 25	10.08
Feb 25	9.95
Feb 25	9.75
Jan 25	10.4
Jan 25	11.05
Jan 25	12.35
Jan 25	13.33
Jan 25	13.33
Dec 24	13.33
Dec 24	9.65
Dec 24	9.59
Dec 24	9.82
Nov 24	9.2
Nov 24	9.64
Nov 24	9.6
Nov 24	9.17
Nov 24	9.12
Oct 24	8.97
Oct 24	9.12

Free Cash Flow Yield

FMFG Free Cash Flow Yield by quarter
Period	Free Cash Flow Yield
Sep 26	6.08%
Sep 26	6.08%
Aug 26	6.12%
Aug 26	6.14%
Aug 26	5.98%
Aug 26	11.19%
Jul 26	11.19%
Jul 26	11.48%
Jul 26	11.54%
Jul 26	11.61%
Jul 26	11.49%
Jun 26	12.13%
Jun 26	12.21%
Jun 26	12.66%
Jun 26	12.86%
May 26	12.53%
May 26	12.4%
May 26	12.48%
May 26	10.41%
May 26	10.58%
Apr 26	10.24%
Apr 26	10.52%
Apr 26	10.23%
Apr 26	10.7%
Mar 26	10.7%
Mar 26	6.34%
Mar 26	6.46%
Mar 26	6.46%
Feb 26	6.11%
Feb 26	5.96%
Feb 26	5.53%
Feb 26	5.9%
Jan 26	5.9%
Jan 26	5.9%
Jan 26	6.48%
Jan 26	6.57%
Jan 26	6.58%
Dec 25	6.66%
Dec 25	6.75%
Dec 25	6.78%
Dec 25	6.75%
Nov 25	6.72%
Nov 25	6.72%
Nov 25	6.95%
Nov 25	3.53%
Oct 25	3.62%
Oct 25	3.63%
Oct 25	3.73%
Oct 25	3.73%
Oct 25	3.48%
Sep 25	3.52%
Sep 25	3.52%
Sep 25	3.52%
Sep 25	3.62%
Aug 25	3.62%
Aug 25	3.65%
Aug 25	3.53%
Aug 25	3.38%
Aug 25	3.38%
Jul 25	3.37%
Jul 25	3.37%
Jul 25	3.51%
Jul 25	3.51%
Jun 25	3.36%
Jun 25	3.36%
Jun 25	3.41%
Jun 25	3.31%
May 25	3.46%
May 25	3.46%
May 25	3.51%
May 25	1.94%
May 25	1.94%
Apr 25	1.94%
Apr 25	2.07%
Apr 25	2.07%
Apr 25	1.97%
Mar 25	1.94%
Mar 25	1.72%
Mar 25	1.88%
Mar 25	2.6%
Feb 25	2.68%
Feb 25	2.85%
Feb 25	2.89%
Feb 25	2.95%
Jan 25	2.76%
Jan 25	2.6%
Jan 25	2.33%
Jan 25	2.15%
Jan 25	2.15%
Dec 24	2.15%
Dec 24	2.98%
Dec 24	3%
Dec 24	2.93%
Nov 24	3.12%
Nov 24	2.98%
Nov 24	2.99%
Nov 24	5.65%
Nov 24	5.68%
Oct 24	5.78%
Oct 24	5.68%

Price to Sales

FMFG Price to Sales by quarter
Period	Price to Sales
Sep 26	1.27
Sep 26	1.27
Aug 26	1.26
Aug 26	1.26
Aug 26	1.29
Aug 26	1.35
Jul 26	1.35
Jul 26	1.32
Jul 26	1.31
Jul 26	1.3
Jul 26	1.32
Jun 26	1.25
Jun 26	1.24
Jun 26	1.19
Jun 26	1.18
May 26	1.21
May 26	1.22
May 26	1.21
May 26	1.26
May 26	1.24
Apr 26	1.28
Apr 26	1.25
Apr 26	1.28
Apr 26	1.23
Mar 26	1.23
Mar 26	1.32
Mar 26	1.29
Mar 26	1.29
Feb 26	1.37
Feb 26	1.4
Feb 26	1.51
Feb 26	1.41
Jan 26	1.41
Jan 26	1.41
Jan 26	1.29
Jan 26	1.27
Jan 26	1.27
Dec 25	1.25
Dec 25	1.24
Dec 25	1.23
Dec 25	1.24
Nov 25	1.24
Nov 25	1.24
Nov 25	1.2
Nov 25	1.26
Oct 25	1.23
Oct 25	1.23
Oct 25	1.2
Oct 25	1.2
Oct 25	1.28
Sep 25	1.27
Sep 25	1.27
Sep 25	1.27
Sep 25	1.23
Aug 25	1.23
Aug 25	1.22
Aug 25	1.26
Aug 25	1.3
Aug 25	1.3
Jul 25	1.3
Jul 25	1.3
Jul 25	1.25
Jul 25	1.25
Jun 25	1.31
Jun 25	1.31
Jun 25	1.29
Jun 25	1.33
May 25	1.27
May 25	1.27
May 25	1.25
May 25	1.27
May 25	1.27
Apr 25	1.27
Apr 25	1.19
Apr 25	1.19
Apr 25	1.25
Mar 25	1.27
Mar 25	1.43
Mar 25	1.31
Mar 25	1.42
Feb 25	1.37
Feb 25	1.29
Feb 25	1.28
Feb 25	1.25
Jan 25	1.33
Jan 25	1.42
Jan 25	1.58
Jan 25	1.71
Jan 25	1.71
Dec 24	1.71
Dec 24	1.24
Dec 24	1.23
Dec 24	1.26
Nov 24	1.18
Nov 24	1.24
Nov 24	1.23
Nov 24	1.31
Nov 24	1.31
Oct 24	1.29
Oct 24	1.31

EV/EBITDA

FMFG EV/EBITDA by quarter
Period	EV/EBITDA
Sep 26	-2.99
Sep 26	-2.99
Aug 26	-3.02
Aug 26	-3.05
Aug 26	-2.89
Aug 26	-2.31
Jul 26	-2.31
Jul 26	-2.48
Jul 26	-2.52
Jul 26	-2.56
Jul 26	-2.49
Jun 26	-2.83
Jun 26	-2.87
Jun 26	-3.09
Jun 26	-3.19
May 26	-3.03
May 26	-2.97
May 26	-3.01
May 26	-3.72
May 26	-3.82
Apr 26	-3.6
Apr 26	-3.78
Apr 26	-3.6
Apr 26	-3.9
Mar 26	-3.9
Mar 26	-6.5
Mar 26	-6.65
Mar 26	-6.65
Feb 26	-6.19
Feb 26	-5.98
Feb 26	-5.32
Feb 26	-5.9
Jan 26	-5.9
Jan 26	-5.9
Jan 26	-6.67
Jan 26	-6.78
Jan 26	-6.79
Dec 25	-6.88
Dec 25	-6.98
Dec 25	-7.02
Dec 25	-6.98
Nov 25	-6.95
Nov 25	-6.95
Nov 25	-7.21
Nov 25	-10.87
Oct 25	-11.05
Oct 25	-11.08
Oct 25	-11.3
Oct 25	-11.31
Oct 25	-10.73
Sep 25	-10.82
Sep 25	-10.82
Sep 25	-10.82
Sep 25	-11.05
Aug 25	-11.05
Aug 25	-11.13
Aug 25	-10.85
Aug 25	-12.57
Aug 25	-12.57
Jul 25	-12.56
Jul 25	-12.56
Jul 25	-12.91
Jul 25	-12.91
Jun 25	-12.52
Jun 25	-12.52
Jun 25	-12.65
Jun 25	-12.39
May 25	-12.77
May 25	-12.77
May 25	-12.91
May 25	-18.15
May 25	-18.15
Apr 25	-18.15
Apr 25	-18.66
Apr 25	-18.66
Apr 25	-18.28
Mar 25	-18.14
Mar 25	-17.13
Mar 25	-17.89
Mar 25	-15.19
Feb 25	-15.43
Feb 25	-15.89
Feb 25	-15.98
Feb 25	-16.13
Jan 25	-15.66
Jan 25	-15.19
Jan 25	-14.26
Jan 25	-13.56
Jan 25	-13.56
Dec 24	-13.56
Dec 24	-16.19
Dec 24	-16.24
Dec 24	-16.08
Nov 24	-16.52
Nov 24	-16.2
Nov 24	-16.24
Nov 24	-14.62
Nov 24	-14.65
Oct 24	-14.76
Oct 24	-14.65

Price/Operating Cashflow

FMFG Price/Operating Cashflow by quarter
Period	Price/Operating Cashflow
Sep 26	7.57
Sep 26	7.57
Aug 26	7.53
Aug 26	7.5
Aug 26	7.7
Aug 26	8.55
Jul 26	8.55
Jul 26	8.33
Jul 26	8.29
Jul 26	8.24
Jul 26	8.33
Jun 26	7.89
Jun 26	7.84
Jun 26	7.56
Jun 26	7.44
May 26	7.64
May 26	7.72
May 26	7.67
May 26	9.03
May 26	8.89
Apr 26	9.18
Apr 26	8.94
Apr 26	9.18
Apr 26	8.78
Mar 26	8.79
Mar 26	14.3
Mar 26	14.05
Mar 26	14.05
Feb 26	14.85
Feb 26	15.23
Feb 26	16.39
Feb 26	15.37
Jan 26	15.37
Jan 26	15.37
Jan 26	14.01
Jan 26	13.81
Jan 26	13.78
Dec 25	13.62
Dec 25	13.45
Dec 25	13.39
Dec 25	13.45
Nov 25	13.5
Nov 25	13.5
Nov 25	13.05
Nov 25	23.13
Oct 25	22.62
Oct 25	22.55
Oct 25	21.95
Oct 25	21.92
Oct 25	23.51
Sep 25	23.26
Sep 25	23.26
Sep 25	23.26
Sep 25	22.62
Aug 25	22.62
Aug 25	22.41
Aug 25	23.17
Aug 25	21.86
Aug 25	21.86
Jul 25	21.9
Jul 25	21.89
Jul 25	21.01
Jul 25	21.01
Jun 25	21.99
Jun 25	21.99
Jun 25	21.66
Jun 25	22.32
May 25	21.35
May 25	21.35
May 25	21.01
May 25	21.71
May 25	21.71
Apr 25	21.71
Apr 25	20.35
Apr 25	20.35
Apr 25	21.37
Mar 25	21.72
Mar 25	24.42
Mar 25	22.38
Mar 25	16.32
Feb 25	15.84
Feb 25	14.88
Feb 25	14.7
Feb 25	14.4
Jan 25	15.36
Jan 25	16.32
Jan 25	18.24
Jan 25	19.69
Jan 25	19.69
Dec 24	19.69
Dec 24	14.26
Dec 24	14.16
Dec 24	14.5
Nov 24	13.59
Nov 24	14.24
Nov 24	14.17
Nov 24	10.34
Nov 24	10.29
Oct 24	10.13
Oct 24	10.29

Price to Book

FMFG Price to Book by quarter
Period	Price to Book
Sep 26	0.87
Sep 26	0.87
Aug 26	0.87
Aug 26	0.86
Aug 26	0.89
Aug 26	0.93
Jul 26	0.93
Jul 26	0.91
Jul 26	0.9
Jul 26	0.9
Jul 26	0.91
Jun 26	0.86
Jun 26	0.85
Jun 26	0.82
Jun 26	0.81
May 26	0.83
May 26	0.84
May 26	0.83
May 26	0.86
May 26	0.85
Apr 26	0.88
Apr 26	0.85
Apr 26	0.88
Apr 26	0.84
Mar 26	0.84
Mar 26	0.89
Mar 26	0.87
Mar 26	0.87
Feb 26	0.92
Feb 26	0.95
Feb 26	1.02
Feb 26	0.96
Jan 26	0.96
Jan 26	0.96
Jan 26	0.87
Jan 26	0.86
Jan 26	0.86
Dec 25	0.85
Dec 25	0.84
Dec 25	0.83
Dec 25	0.84
Nov 25	0.84
Nov 25	0.84
Nov 25	0.81
Nov 25	0.87
Oct 25	0.85
Oct 25	0.85
Oct 25	0.82
Oct 25	0.82
Oct 25	0.88
Sep 25	0.87
Sep 25	0.87
Sep 25	0.87
Sep 25	0.85
Aug 25	0.85
Aug 25	0.84
Aug 25	0.87
Aug 25	0.9
Aug 25	0.9
Jul 25	0.9
Jul 25	0.9
Jul 25	0.86
Jul 25	0.86
Jun 25	0.9
Jun 25	0.9
Jun 25	0.89
Jun 25	0.91
May 25	0.87
May 25	0.87
May 25	0.86
May 25	0.89
May 25	0.89
Apr 25	0.89
Apr 25	0.84
Apr 25	0.84
Apr 25	0.88
Mar 25	0.89
Mar 25	1
Mar 25	0.92
Mar 25	0.9
Feb 25	0.88
Feb 25	0.82
Feb 25	0.81
Feb 25	0.8
Jan 25	0.85
Jan 25	0.9
Jan 25	1.01
Jan 25	1.09
Jan 25	1.09
Dec 24	1.09
Dec 24	0.79
Dec 24	0.78
Dec 24	0.8
Nov 24	0.75
Nov 24	0.79
Nov 24	0.78
Nov 24	0.86
Nov 24	0.86
Oct 24	0.85
Oct 24	0.86

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AI Analysis

Farmers and Merchants Bancshares, Inc.

Video analysis: FMFG

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