Farmers & Merchants Bancshares, Inc.

FMBNOTCFinancial Services● Active

$44.00

+$0.00(+0.00%)

Market Cap$145190936

P/E Ratio—

52W High$44

52W Low$26

Avg Volume3

Open$44.00

Beta0.05

Free Cash Flow Financials Revenue

Farmers & Merchants Bancshares, Inc. (FMBN) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FMBN · free cash flow · updated Jun 9, 2026

Core FCF metrics

FMBN · FCF · TTM · margin & CAGR

Free cash flow was $1.7M for FY2025 (fiscal year ending 2025-12-31), up 60.9% year-over-year The FCF margin was 14.3%. Five-year CAGR stands at +3.3%.

FY2025 Free Cash Flow$1.7M▲ +60.9% YoY

Trailing 12M (TTM)—trailing 4 quarters sum

FCF Margin14.3%$1.7M ÷ revenue

3-Year CAGR+30.2%FY2022 → FY2025

5-Year CAGR+3.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FMBN · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.8M(0M)$1.7M▲ +60.9%14.3%

FY2024$1.2M(0M)$1.1M▲ +326.0%11.5%

FY2023$686,736(0M)$249,274▼ 67.8%2.2%

FY2022$1.2M(0M)$774,653▼ 55.1%7.5%

FY2021$2.0M(0M)$1.7M▲ +18.7%17.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FMBN · P/FCF · FCF yield · FCF per share

Farmers & Merchants Bancshares, Inc. (FMBN) trades at a FCF yield of 1.18% and a price-to-free-cash-flow ratio of 7.2x. FCF per share stands at $6.15, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.18%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$6.15

TTM FCF ÷ Shares Outstanding

Price / FCF

x7.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x92.2

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

FMBN · cash flow statement · operating / investing / financing

For FY2025, Farmers & Merchants Bancshares, Inc. generated $1.8M in operating cash flow and spent 0M in capital expenditures, yielding $1.7M in free cash flow.

Operating Activities

+$1.8M

Cash from core business operations

2025-12-31

Investing Activities

+$6.6M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$7.3M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.8M) − |CapEx| (0M) = FCF ($1.7M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

FMBN vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Farmers & Merchants Bancshares, Inc.YOU

FMBN

$1.7M+60.9%14.3%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Farmers & Merchants Bancshares, Inc. (FMBN) reported free cash flow of $1.7M for FY2025 (fiscal year ending 2025-12-31), up 60.9% year-over-year. The FCF margin was 14.3%.

Based on available data, Farmers & Merchants Bancshares, Inc. has maintained positive free cash flow for at least 9 fiscal year(s). FCF peaked at $7.6M in FY2017. The 5-year CAGR stands at +3.3%.

Farmers & Merchants Bancshares, Inc.'s FCF yield is 1.18% and price-to-FCF ratio is 7.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FMBN free cash flow · 8 questions

Farmers & Merchants Bancshares, Inc. free cash flow was $1.7M for FY2025, up 60.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at —.

FMBN free cash flowFMBN FCFFMBN FCF 2025FMBN free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Farmers & Merchants Bancshares, Inc. · Farmers & Merchants Bancshares, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026