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Farmers & Merchants Valuation Multiples

Discover revenue and EBITDA valuation multiples for Farmers & Merchants and similar public comparables like National Bank of Fujairah, Invest Bank, and First Abu Dhabi Bank.

Farmers & Merchants Overview

About Farmers & Merchants

Farmers & Merchants Bancorp Inc is a holding company based in Ohio. The company is engaged in general commercial banking business. The activities of the company include commercial, agricultural and residential mortgages as well as consumer and credit card lending activities.


Founded

1985

HQ

United States of America
Employees

473

Website

fm.bank

Financials

LTM Revenue $113M

Last FY EBITDA n/a

EV

$560M

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Farmers & Merchants Financials

Farmers & Merchants has a last 12-month revenue (LTM) of $113M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Farmers & Merchants achieved revenue of $98.9M and an EBITDA of n/a.

Farmers & Merchants expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Farmers & Merchants P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $113M XXX $98.9M XXX XXX XXX
Gross Profit n/a XXX n/a XXX XXX XXX
Gross Margin n/a XXX n/a XXX XXX XXX
EBITDA n/a XXX n/a XXX XXX XXX
EBITDA Margin n/a XXX n/a XXX XXX XXX
EBIT $38.5M XXX n/a XXX XXX XXX
EBIT Margin 34% XXX n/a XXX XXX XXX
Net Profit $29.2M XXX $25.9M XXX XXX XXX
Net Margin 26% XXX 26% XXX XXX XXX
Net Debt XXX XXX $104M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Farmers & Merchants Stock Performance

As of August 15, 2025, Farmers & Merchants's stock price is $25.

Farmers & Merchants has current market cap of $336M, and EV of $560M.

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Farmers & Merchants Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$560M $336M XXX XXX XXX XXX $2.13

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Farmers & Merchants Valuation Multiples

As of August 15, 2025, Farmers & Merchants has market cap of $336M and EV of $560M.

Farmers & Merchants's trades at 5.7x EV/Revenue multiple, and n/a EV/EBITDA.

Equity research analysts estimate Farmers & Merchants's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

Farmers & Merchants has a P/E ratio of 11.5x.

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Farmers & Merchants Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $336M XXX $336M XXX XXX XXX
EV (current) $560M XXX $560M XXX XXX XXX
EV/Revenue 5.0x XXX 5.7x XXX XXX XXX
EV/EBITDA n/a XXX n/a XXX XXX XXX
EV/EBIT 14.6x XXX n/a XXX XXX XXX
EV/Gross Profit n/a XXX n/a XXX XXX XXX
P/E 11.5x XXX 13.0x XXX XXX XXX
EV/FCF n/a XXX 18.3x XXX XXX XXX

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Farmers & Merchants Margins & Growth Rates

Farmers & Merchants's last 12 month revenue growth is 10%

Farmers & Merchants's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged n/a for the same period.

Farmers & Merchants's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Farmers & Merchants's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Farmers & Merchants Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 10% XXX 13% XXX XXX XXX
EBITDA Margin n/a XXX n/a XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 n/a XXX n/a XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX n/a XXX XXX XXX
S&M Expenses to Revenue XXX XXX 2% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX n/a XXX XXX XXX

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Farmers & Merchants Public Comps

See public comps and valuation multiples for Commercial Banking comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Abu Dhabi Commercial Bank XXX XXX XXX XXX XXX XXX
Abu Dhabi Islamic Bank XXX XXX XXX XXX XXX XXX
First Abu Dhabi Bank XXX XXX XXX XXX XXX XXX
Invest Bank XXX XXX XXX XXX XXX XXX
National Bank of Fujairah XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Farmers & Merchants M&A and Investment Activity

Farmers & Merchants acquired  XXX companies to date.

Last acquisition by Farmers & Merchants was  XXXXXXXX, XXXXX XXXXX XXXXXX . Farmers & Merchants acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Farmers & Merchants

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Farmers & Merchants

When was Farmers & Merchants founded? Farmers & Merchants was founded in 1985.
Where is Farmers & Merchants headquartered? Farmers & Merchants is headquartered in United States of America.
How many employees does Farmers & Merchants have? As of today, Farmers & Merchants has 473 employees.
Who is the CEO of Farmers & Merchants? Farmers & Merchants's CEO is Mr. Lars B. Eller.
Is Farmers & Merchants publicy listed? Yes, Farmers & Merchants is a public company listed on NAS.
What is the stock symbol of Farmers & Merchants? Farmers & Merchants trades under FMAO ticker.
When did Farmers & Merchants go public? Farmers & Merchants went public in 2004.
Who are competitors of Farmers & Merchants? Similar companies to Farmers & Merchants include e.g. Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, First Abu Dhabi Bank, Invest Bank.
What is the current market cap of Farmers & Merchants? Farmers & Merchants's current market cap is $336M
What is the current revenue of Farmers & Merchants? Farmers & Merchants's last 12 months revenue is $113M.
What is the current revenue growth of Farmers & Merchants? Farmers & Merchants revenue growth (NTM/LTM) is 10%.
What is the current EV/Revenue multiple of Farmers & Merchants? Current revenue multiple of Farmers & Merchants is 5.0x.
Is Farmers & Merchants profitable? Yes, Farmers & Merchants is EBITDA-positive (as of the last 12 months).

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