Farmers & Merchants Bancorp
Farmers & Merchants Bancorp operates as the bank holding company for Farmers & Merchants Bank of Central California that provides various banking services to businesses and individuals in the United States. The company offers deposit products, including checking, savings, money market, time certificates of deposit, and individual retirement accounts. It also provides a range of lending products, … Read more
Farmers & Merchants Bancorp (FMCB) - Net Assets
Latest net assets as of September 2025: $645.25 Million USD
Based on the latest financial reports, Farmers & Merchants Bancorp (FMCB) has net assets worth $645.25 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($5.63 Billion) and total liabilities ($4.98 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $645.25 Million |
| % of Total Assets | 11.46% |
| Annual Growth Rate | 7.85% |
| 5-Year Change | 35.27% |
| 10-Year Change | 127.56% |
| Growth Volatility | 3.85 |
Farmers & Merchants Bancorp - Net Assets Trend (2001–2024)
This chart illustrates how Farmers & Merchants Bancorp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Farmers & Merchants Bancorp (2001–2024)
The table below shows the annual net assets of Farmers & Merchants Bancorp from 2001 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $573.07 Million | +4.24% |
| 2023-12-31 | $549.75 Million | +13.28% |
| 2022-12-31 | $485.31 Million | +4.79% |
| 2021-12-31 | $463.14 Million | +9.32% |
| 2020-12-31 | $423.67 Million | +14.72% |
| 2019-12-31 | $369.30 Million | +18.66% |
| 2018-12-31 | $311.21 Million | +3.86% |
| 2017-12-31 | $299.66 Million | +7.03% |
| 2016-12-31 | $279.98 Million | +11.18% |
| 2015-12-31 | $251.84 Million | +8.00% |
| 2014-12-31 | $233.18 Million | +11.09% |
| 2013-12-31 | $209.90 Million | +2.38% |
| 2012-12-31 | $205.03 Million | +8.28% |
| 2011-12-31 | $189.35 Million | +9.30% |
| 2010-12-31 | $173.24 Million | +5.17% |
| 2009-12-31 | $164.73 Million | +5.23% |
| 2008-12-31 | $156.54 Million | +9.15% |
| 2007-12-31 | $143.42 Million | +8.37% |
| 2006-12-31 | $132.34 Million | +7.03% |
| 2005-12-31 | $123.65 Million | +6.09% |
| 2004-12-31 | $116.55 Million | +6.33% |
| 2003-12-31 | $109.61 Million | +5.83% |
| 2002-12-31 | $103.56 Million | +2.81% |
| 2001-12-31 | $100.74 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Farmers & Merchants Bancorp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1404.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $592.43 Million | 103.38% |
| Total Equity | $573.07 Million | 100.00% |
Farmers & Merchants Bancorp Competitors by Market Cap
The table below lists competitors of Farmers & Merchants Bancorp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Mitra Adiperkasa Tbk
JK:MAPI
|
$569.96 Million |
|
PT Merdeka Battery Materials
JK:MBMA
|
$570.05 Million |
|
Zhuhai Zhongfu Enterprise Co Ltd
SHE:000659
|
$570.17 Million |
|
Merry Electronics Co Ltd
TW:2439
|
$570.30 Million |
|
CIMC Enric Holdings Limited
PINK:CIMEF
|
$569.65 Million |
|
SJVN Limited
NSE:SJVN
|
$569.60 Million |
|
Beijing China Sciences Runyu Environmental Technology Co. Ltd.
SHE:301175
|
$569.56 Million |
|
Daxin Materials Corp
TW:5234
|
$569.38 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Farmers & Merchants Bancorp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 549,755,000 to 573,072,000, a change of 23,317,000 (4.2%).
- Net income of 88,457,000 contributed positively to equity growth.
- Dividend payments of 13,017,000 reduced retained earnings.
- Share repurchases of 45,261,000 reduced equity.
- Other factors decreased equity by 6,862,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $88.46 Million | +15.44% |
| Dividends Paid | $13.02 Million | -2.27% |
| Share Repurchases | $45.26 Million | -7.9% |
| Other Changes | $-6.86 Million | -1.2% |
| Total Change | $- | 4.24% |
Book Value vs Market Value Analysis
This analysis compares Farmers & Merchants Bancorp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.20x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 3.72x to 1.20x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | $263.58 | $980.00 | x |
| 2013-12-31 | $269.84 | $980.00 | x |
| 2014-12-31 | $297.39 | $980.00 | x |
| 2015-12-31 | $318.46 | $980.00 | x |
| 2016-12-31 | $346.80 | $980.00 | x |
| 2017-12-31 | $368.90 | $980.00 | x |
| 2018-12-31 | $397.10 | $980.00 | x |
| 2019-12-31 | $465.68 | $980.00 | x |
| 2020-12-31 | $536.53 | $980.00 | x |
| 2021-12-31 | $586.51 | $980.00 | x |
| 2022-12-31 | $631.63 | $980.00 | x |
| 2023-12-31 | $735.00 | $980.00 | x |
| 2024-12-31 | $818.91 | $980.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Farmers & Merchants Bancorp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 15.44%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 39.47%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 9.37x
- Recent ROE (15.44%) is above the historical average (13.31%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 12.23% | 17.13% | 0.07x | 9.64x | $2.24 Million |
| 2002 | 12.96% | 19.70% | 0.07x | 9.87x | $3.06 Million |
| 2003 | 13.48% | 21.79% | 0.06x | 10.48x | $3.81 Million |
| 2004 | 14.11% | 22.36% | 0.06x | 10.52x | $4.80 Million |
| 2005 | 14.90% | 22.01% | 0.06x | 10.94x | $6.06 Million |
| 2006 | 15.59% | 20.53% | 0.07x | 10.66x | $7.39 Million |
| 2007 | 15.82% | 20.56% | 0.07x | 10.59x | $8.35 Million |
| 2008 | 14.56% | 21.43% | 0.06x | 10.76x | $7.14 Million |
| 2009 | 12.15% | 18.28% | 0.06x | 10.81x | $3.54 Million |
| 2010 | 12.19% | 20.78% | 0.06x | 10.63x | $3.79 Million |
| 2011 | 11.73% | 23.47% | 0.05x | 10.14x | $3.27 Million |
| 2012 | 11.39% | 27.27% | 0.04x | 9.63x | $2.85 Million |
| 2013 | 11.46% | 26.99% | 0.04x | 9.89x | $3.07 Million |
| 2014 | 10.89% | 27.65% | 0.04x | 10.12x | $2.08 Million |
| 2015 | 10.88% | 27.24% | 0.04x | 10.39x | $2.21 Million |
| 2016 | 10.62% | 26.44% | 0.04x | 10.44x | $1.72 Million |
| 2017 | 9.47% | 23.08% | 0.04x | 10.26x | $-1.60 Million |
| 2018 | 14.63% | 32.60% | 0.04x | 11.03x | $14.41 Million |
| 2019 | 15.17% | 36.12% | 0.04x | 10.08x | $19.11 Million |
| 2020 | 13.86% | 36.02% | 0.04x | 10.74x | $16.37 Million |
| 2021 | 14.32% | 36.84% | 0.03x | 11.18x | $20.02 Million |
| 2022 | 15.47% | 38.85% | 0.04x | 10.98x | $26.56 Million |
| 2023 | 16.06% | 38.85% | 0.04x | 9.66x | $33.34 Million |
| 2024 | 15.44% | 39.47% | 0.04x | 9.37x | $31.15 Million |
Industry Comparison
This section compares Farmers & Merchants Bancorp's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Farmers & Merchants Bancorp (FMCB) | $645.25 Million | 12.23% | 7.73x | $569.85 Million |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |