A Business at a Glance
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F&M BANK CORP
FMBM
$141M
Mkt Cap
$39.54
-0.28%
F&M BANK CORP (FMBM) has a current P/E ratio of 8.9, compared to its historical median P/E of 9.1. The stock is currently considered Fair based on its historical valuation range.
F&M BANK CORP (FMBM) has a 5-year average return on invested capital (ROIC) of 7.9%. This is below average and may indicate limited pricing power.
F&M BANK CORP (FMBM) has a market capitalization of $141M. It is classified as a small-cap stock.
Yes, F&M BANK CORP (FMBM) pays a dividend with a trailing twelve-month yield of 2.63%. The company also returns capital through share buybacks, with a buyback yield of 0.29%.
Based on historical P/E analysis, F&M BANK CORP (FMBM) appears fair. The current P/E of 8.9 is 1% below its historical median of 9.1. The estimated fair value CAGR (P/E method) is 3.7%.
F&M BANK CORP (FMBM) operates in the State Commercial Banks industry, within the Financials sector.
F&M BANK CORP (FMBM) reported annual revenue of $79 million in its most recent fiscal year, based on SEC EDGAR filings.
F & M Bank Corp. (the “Company”), incorporated in Virginia in 1983, is a one-bank holding company under the Bank Holding Company Act of 1956 that has elected to become a financial holding company. The Company owns 100% of the outstanding stock of its banking subsidiary, Farmers & Merchants Bank (“Bank”) and VSTitle, LLC (“VST”). VBS Mortgage, LLC (“F&M Mortgage”), is a wholly owned subsidiary of the Bank. The Company dissolved TEB Life Insurance Company (“TEB”) on November 8, 2023. Farmers & Merchants Financial Services, Inc. (“FMFS”) was formerly a wholly owned subsidiary of the Bank. FMFS was dissolved effective April 25, 2024, and its legal existence was subsequently terminated on June 7, 2024. The operations, assets, and liabilities of FMFS were transferred to the Bank. The Company’s and the Bank’s headquarters are located in Timberville, Virginia, and its primary operations centers are located in the Shenandoah Valley of Virginia.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 79M | 75M | 67M | 53M | 47M |
| Net Income | 0 | 11M | 7.3M | 2.8M | 8.3M | 11M |
| EPS | $0.00 | $3.16 | $2.07 | $0.80 | $2.41 | $3.12 |
| Free Cash Flow | 0 | 16M | 6.9M | -3.3M | 14M | 21M |
| ROIC | - | 10.8% | 8.2% | 3.4% | 8.3% | 8.6% |
| Gross Margin | - | 0.0% | 56.3% | 61.3% | 84.8% | 84.8% |
| Debt/Equity | 0.00 | 0.09 | 0.08 | 0.85 | 1.09 | 0.22 |
| Dividends/Share | $0.00 | $1.04 | $1.04 | $1.04 | $1.04 | $1.04 |
| Operating Income | 0 | 13M | 7.9M | 467K | 877K | 913K |
| Operating Margin | 0.0% | 16.4% | 10.5% | 0.7% | 1.6% | 1.9% |
| ROE | 0.0% | 11.8% | 8.9% | 3.7% | 9.7% | 11.0% |
| Shares Outstanding | 4M | 4M | 4M | 3M | 3M | 3M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 30M | 34M | 38M | 42M | 44M | 48M | 49M | 47M | 53M | 67M | 75M | 79M | 0 |
| Gross Margin | 80.1% | 90.7% | 90.5% | 90.7% | 82.5% | 70.4% | 81.6% | 84.8% | 84.8% | 61.3% | 56.3% | 0.0% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 16M | 20M | 21M | 25M | 27M | 30M | 30M | 33M | 37M | 39M | 34M | 37M | 37M |
| EBIT | 8.1M | 11M | 13M | 13M | 9.9M | 4.4M | 10M | 913K | 877K | 467K | 7.9M | 13M | 0 |
| Op. Margin | 27.4% | 33.5% | 34.1% | 31.8% | 22.2% | 9.1% | 20.5% | 1.9% | 1.6% | 0.7% | 10.5% | 16.4% | 0.0% |
| Net Income | 5.7M | 7.9M | 9.1M | 8.6M | 8.4M | 4.5M | 8.8M | 11M | 8.3M | 2.8M | 7.3M | 11M | 0 |
| Net Margin | 19.1% | 23.1% | 24.1% | 20.5% | 18.9% | 9.4% | 17.9% | 22.9% | 15.6% | 4.2% | 9.7% | 14.2% | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 9K | -13K | 33K | 57K | 10K | 3.6M | 12K | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 7.9% | 7.6% | 6.4% | 5.9% | 6.2% | 3.3% | 6.4% | 8.6% | 8.3% | 3.4% | 8.2% | 10.8% | N/A |
| ROE | 8.6% | 9.8% | 10.7% | 9.7% | 9.2% | 4.9% | 9.4% | 11.0% | 9.7% | 3.7% | 8.9% | 11.8% | 0.0% |
| ROA | 1.0% | 1.2% | 1.3% | 1.1% | 1.1% | 0.6% | 1.0% | 1.0% | 0.7% | 0.2% | 0.6% | 0.8% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 8.4M | 9.8M | 16M | 6.9M | 12M | 15M | 1.8M | 21M | 18M | 2.2M | 7.1M | 17M | 0 |
| Free Cash Flow | 7.8M | 8.0M | 12M | 370K | 8.9M | 13M | 1.1M | 21M | 14M | -3.3M | 6.9M | 16M | 0 |
| Owner Earnings | 5.8M | 6.6M | 12M | 2.6M | 6.9M | 9.0M | -3.1M | 20M | 16M | 606K | 5.5M | 15M | -1.7M |
| CapEx | 546K | 1.8M | 3.6M | 6.5M | 3.0M | 2.4M | 742K | 563K | 3.6M | 5.5M | 282K | 724K | 0 |
| Maint. CapEx | 612K | 727K | 827K | 930K | 1.1M | 1.2M | 1.2M | 1.2M | 1.1M | 1.3M | 1.4M | 1.3M | 1.3M |
| Growth CapEx | 0 | 1.1M | 2.7M | 5.6M | 1.9M | 1.2M | 0 | 0 | 2.5M | 4.2M | 0 | 0 | 0 |
| D&A | 612K | 727K | 827K | 930K | 1.1M | 1.2M | 1.2M | 1.2M | 1.1M | 1.3M | 1.4M | 1.3M | 1.3M |
| CapEx/OCF | 6.5% | 18.4% | 22.9% | 94.6% | 25.2% | 15.5% | 40.2% | 2.6% | 20.7% | 251.9% | 3.8% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 2.2M | 2.9M | 3.1M | 3.4M | 4.3M | 3.3M | 3.3M | 0 | 0 | 0 | 3.6M | 3.7M | 0 |
| Dividend Yield | 6.0% | 5.8% | 5.3% | 4.7% | 4.8% | 4.3% | 5.8% | N/A | N/A | N/A | 5.8% | N/A | N/A |
| Share Buybacks | 0 | 290K | 578K | 712K | 1.8M | 1.8M | 473K | 0 | 0 | 0 | 0 | 402K | 402K |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.3% |
| Stock-Based Comp | 1.9M | 2.4M | 2.8M | 3.4M | 3.8M | 5.1M | 3.7M | 86K | 193K | 259K | 226K | 420K | 420K |
| Debt Repayment | 19M | 1.7M | 3.9M | 15M | 9.5M | 17M | 92M | 0 | 0 | 0 | 60M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -21M | 53M | 41M | -26M | 66M | -17M | -152M | -470M | -350M | -325M | -378M | -404M | 0 |
| Cash & Equiv. | 23M | 8.5M | 16M | 12M | 11M | 76M | 78M | 88M | 35M | 24M | 57M | 69M | N/A |
| Long-Term Debt | 10K | 48M | 64M | 50M | 40M | 53M | 33M | 22M | 6.9M | 6.9M | 7.0M | 9.9M | 9.9M |
| Debt/Equity | 0.18 | 0.88 | 1.20 | 0.82 | 0.88 | 0.69 | 0.35 | 0.22 | 1.09 | 0.85 | 0.08 | 0.09 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 | 0.0 |
| Equity | 78M | 83M | 87M | 91M | 91M | 92M | 96M | 100M | 71M | 78M | 86M | 105M | 0 |
| Total Assets | 605M | 665M | 745M | 753M | 780M | 814M | 967M | 1.2B | 1.2B | 1.3B | 1.3B | 1.4B | 0 |
| Total Liabilities | 528M | 582M | 658M | 662M | 688M | 722M | 871M | 1.1B | 1.2B | 1.2B | 1.2B | 1.3B | 1.3B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Retained Earnings | 43M | 48M | 55M | 61M | 65M | 66M | 71M | 78M | 83M | 81M | 85M | 92M | 92M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | 1.80 | 2.25 | 2.57 | 2.48 | 2.45 | 1.30 | 2.56 | 3.12 | 2.41 | 0.80 | 2.07 | 3.16 | 0.00 |
| Owner EPS | 1.85 | 1.88 | 3.38 | 0.74 | 2.02 | 2.60 | -0.91 | 5.81 | 4.72 | 0.17 | 1.56 | 4.16 | -0.48 |
| Book Value | 24.68 | 23.60 | 24.53 | 26.26 | 26.63 | 26.40 | 27.86 | 29.19 | 20.51 | 22.61 | 24.48 | 29.49 | 0.00 |
| Cash Flow/Share | 2.65 | 2.78 | 4.41 | 1.98 | 3.46 | 4.43 | 0.54 | 6.18 | 5.09 | 0.63 | 2.03 | 4.64 | 0.37 |
| Dividends/Share | 0.68 | 0.73 | 0.80 | 0.94 | 1.20 | 1.02 | 1.04 | 1.04 | 1.04 | 1.04 | 1.04 | 1.04 | 0.00 |
| Shares Out. | 3.2M | 3.5M | 3.5M | 3.5M | 3.4M | 3.5M | 3.4M | 3.4M | 3.5M | 3.5M | 3.5M | 3.6M | 3.6M |
| Valuation | |||||||||||||
| P/E Ratio | 7.1 | 6.8 | 7.1 | 9.6 | 9.1 | 17.1 | 7.1 | 7.6 | 8.1 | 21.7 | 9.3 | N/A | N/A |
| P/FCF | 5.1 | 6.8 | 5.4 | 222.1 | 8.6 | 5.9 | 56.8 | 3.9 | 4.9 | N/A | 9.9 | N/A | N/A |
| EV/EBIT | 2.7 | 8.7 | 9.7 | 8.6 | 10.2 | 6.0 | 1.2 | 16.8 | 125.1 | 221.3 | 0.5 | N/A | N/A |
| Price/Book | 0.5 | 0.7 | 0.7 | 0.9 | 0.8 | 0.9 | 0.7 | 0.8 | 1.0 | 0.8 | 0.8 | N/A | N/A |
| Price/Sales | 1.4 | 1.7 | 1.7 | 1.9 | 2.2 | 1.9 | 1.3 | 1.8 | 1.7 | 1.5 | 1.4 | N/A | N/A |
| FCF Yield | 19.4% | 14.7% | 18.6% | 0.5% | 11.6% | 16.4% | 1.7% | 25.4% | 20.6% | -5.5% | 10.1% | N/A | N/A |
| Market Cap | 40M | 54M | 65M | 82M | 76M | 79M | 64M | 82M | 68M | 60M | 68M | 0 | 141M |
| Avg. Price | 11.80 | 14.29 | 16.73 | 20.82 | 25.85 | 22.06 | 16.67 | 22.70 | 22.50 | 17.94 | 17.83 | 0.00 | 39.54 |
| Year-End Price | 12.77 | 15.38 | 18.29 | 23.71 | 22.24 | 22.26 | 18.29 | 23.74 | 19.63 | 17.36 | 19.32 | 0.00 | 39.54 |
F&M BANK CORP passes 3 of 9 quality checks, indicating weak fundamentals.
F&M BANK CORP trades at 8.9x trailing earnings, compared to its 15-year median P/E of 9.1x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 7.8x vs a median of 5.9x. The company's 5-year average ROIC is 7.9% with a gross margin of 57.4%. Total shareholder yield (dividends + buybacks) is 2.9%. At current prices, the estimated annualized return to fair value is +1.1%.
F&M BANK CORP (FMBM) has a net profit margin of 14.2%. This is a healthy margin.
F&M BANK CORP (FMBM) generated $16 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
F&M BANK CORP (FMBM) has a debt-to-equity ratio of 0.09. This indicates a conservatively financed balance sheet.
F&M BANK CORP (FMBM) reported earnings per share (EPS) of $3.16 in its most recent fiscal year.
F&M BANK CORP (FMBM) has a return on equity (ROE) of 11.8%. This indicates moderate shareholder returns.
F&M BANK CORP (FMBM) has a 5-year average gross margin of 57.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for F&M BANK CORP (FMBM), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
F&M BANK CORP (FMBM) has a book value per share of $29.49, based on its most recent annual SEC filing.
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