A Business at a Glance
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FARMERS NATIONAL BANC CORP /OH/
FMNB
$572M
Mkt Cap
$15.19
+2.50%
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a current P/E ratio of 10.5, compared to its historical median P/E of 9.9. The stock is currently considered Fair based on its historical valuation range.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a 5-year average return on invested capital (ROIC) of 10.9%. This indicates solid capital allocation.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a market capitalization of $899M. It is classified as a small-cap stock.
Yes, FARMERS NATIONAL BANC CORP /OH/ (FMNB) pays a dividend with a trailing twelve-month yield of 2.83%.
Based on historical P/E analysis, FARMERS NATIONAL BANC CORP /OH/ (FMNB) appears fair. The current P/E of 10.5 is 7% above its historical median of 9.9. The estimated fair value CAGR (P/E method) is 0.6%.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) operates in the State Commercial Banks industry, within the Financials sector.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) reported annual revenue of $280 million in its most recent fiscal year, based on SEC EDGAR filings.
Farmers National Banc Corp. Farmers National Banc Corp. (the “Company,” “Farmers,” “we,” “our” or “us”), is a financial holding company that was organized as a one-bank holding company in 1983 under the laws of the State of Ohio and registered under the Bank Holding Company Act of 1956, as amended (the “BHCA”). Amendments to the BHCA in 1999 allowed for a bank holding company to declare itself a financial holding company and thereby engage in financial activities, including securities underwriting and dealing, insurance agency and underwriting activities, and merchant banking activities. The Company made the declaration to become a financial holding company in 2016. For a bank holding company to be eligible to declare itself a financial holding company, all of the depository institution subsidiaries must be well-capitalized and well-managed and have satisfactory or better ratings under the Community Reinvestment Act of 1977 (the "CRA").
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 200M | 280M | 269M | 255M | 186M | 155M |
| Net Income | 57M | 55M | 46M | 50M | 61M | 52M |
| EPS | $1.36 | $1.45 | $1.22 | $1.33 | $1.79 | $1.77 |
| Free Cash Flow | 47M | 52M | 55M | 59M | 79M | 54M |
| ROIC | 6.7% | 10.3% | 9.3% | 11.4% | 12.9% | 10.5% |
| Gross Margin | - | 68.9% | 66.8% | 66.8% | 89.8% | 91.4% |
| Debt/Equity | 0.57 | 0.76 | 0.96 | 1.10 | 0.63 | 0.19 |
| Dividends/Share | $0.43 | $0.68 | $0.68 | $0.65 | $0.65 | $0.48 |
| Operating Income | 3.6M | 3.9M | 4.7M | 4.5M | 4.0M | 62M |
| Operating Margin | 1.8% | 1.4% | 1.8% | 1.8% | 2.1% | 40.2% |
| ROE | 7.5% | 12.2% | 11.3% | 14.3% | 15.8% | 12.6% |
| Shares Outstanding | 59M | 38M | 38M | 38M | 34M | 29M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 56M | 72M | 96M | 105M | 117M | 130M | 148M | 155M | 186M | 255M | 269M | 280M | 200M |
| Gross Margin | 88.5% | N/A | N/A | 90.2% | 86.1% | 83.0% | 83.0% | 91.4% | 89.8% | 66.8% | 66.8% | 68.9% | 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 | 21M | 27M | 32M | 35M | 36M | 37M | 40M | 39M | 45M | 57M | 59M | 62M | 65M |
| EBIT | 2.1M | 1.2M | 1.8M | 1.4M | 38M | 43M | 50M | 62M | 4.0M | 4.5M | 4.7M | 3.9M | 3.6M |
| Op. Margin | 3.8% | 1.7% | 1.9% | 1.3% | 32.6% | 33.1% | 33.9% | 40.2% | 2.1% | 1.8% | 1.8% | 1.4% | 1.8% |
| Net Income | 9.0M | 8.1M | 21M | 23M | 33M | 36M | 42M | 52M | 61M | 50M | 46M | 55M | 57M |
| Net Margin | 15.9% | 11.2% | 21.5% | 21.7% | 27.8% | 27.5% | 28.2% | 33.5% | 32.5% | 19.6% | 17.1% | 19.5% | 28.6% |
| Non-Recurring | 763K | 0 | 0 | -53K | 0 | -26K | -77K | -247K | 20K | -316K | -490K | -59K | -59K |
| Returns on Capital | |||||||||||||
| ROIC | 6.5% | 4.4% | 9.2% | 9.5% | 12.6% | 11.7% | 10.9% | 10.5% | 12.9% | 11.4% | 9.3% | 10.3% | 6.7% |
| ROE | 7.6% | 5.0% | 10.0% | 10.0% | 12.9% | 12.7% | 12.9% | 12.6% | 15.8% | 14.3% | 11.3% | 12.2% | 7.5% |
| ROA | 0.8% | 0.5% | 1.1% | 1.1% | 1.5% | 1.5% | 1.5% | 1.4% | 1.5% | 1.1% | 0.9% | 1.1% | 0.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12M | 6.3M | 24M | 31M | 39M | 39M | 49M | 55M | 82M | 63M | 67M | 60M | 52M |
| Free Cash Flow | 11M | 5.0M | 24M | 30M | 38M | 37M | 45M | 54M | 79M | 59M | 55M | 52M | 47M |
| Owner Earnings | 10M | 3.4M | 20M | 25M | 34M | 35M | 45M | 50M | 75M | 53M | 58M | 51M | 42M |
| CapEx | 972K | 1.3M | 788K | 956K | 450K | 1.5M | 3.7M | 1.4M | 2.6M | 3.9M | 12M | 7.9M | 4.9M |
| Maint. CapEx | 1.9M | 2.5M | 3.1M | 3.1M | 2.9M | 2.8M | 3.1M | 3.5M | 4.9M | 7.3M | 6.4M | 6.8M | 7.2M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 574K | 0 | 0 | 0 | 5.3M | 1.1M | 0 |
| D&A | 1.9M | 2.5M | 3.1M | 3.1M | 2.9M | 2.8M | 3.1M | 3.5M | 4.9M | 7.3M | 6.4M | 6.8M | 7.2M |
| CapEx/OCF | 7.9% | 20.5% | 3.2% | 3.1% | 1.1% | 3.8% | 7.5% | 2.5% | 3.2% | 6.2% | 17.6% | N/A | 9.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 2.2M | 2.7M | 4.3M | 6.0M | 8.3M | 11M | 13M | 14M | 22M | 25M | 25M | 25M | 25M |
| Dividend Yield | 2.2% | 2.1% | 2.3% | 2.1% | 2.7% | 3.4% | 4.5% | 3.7% | 5.0% | 6.0% | 5.3% | N/A | 2.8% |
| Share Buybacks | 2.9M | 213K | 168K | 0 | 0 | 2.8M | 14M | 164K | 0 | 12M | 0 | 0 | 0 |
| Buyback Yield | 2.6% | 0.2% | 0.1% | N/A | 0.5% | 0.8% | 4.7% | 0.0% | N/A | 2.3% | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 116K | 486K | 892K | 2.4M | 1.7M | 1.4M | 1.4M | 1.2M | 1.8M | 2.6M | 2.6M | 2.5M | 2.5M |
| Debt Repayment | 1.4M | 3.2M | 7.2M | 8.1M | 1.0M | 935K | 48M | 67M | 0 | 0 | 50M | 24M | 24M |
| Balance Sheet | |||||||||||||
| Net Debt | -316M | -175M | -173M | -112M | -169M | -323M | -681M | -1.2B | -1.0B | -884M | -857M | -996M | -1.1B |
| Cash & Equiv. | 14M | 29M | 16M | 16M | 18M | 13M | 184M | -142M | -37M | 28M | -18M | 20M | 1.6B |
| Long-Term Debt | 18M | 22M | 15M | 7.0M | 6.0M | 45M | 76M | 88M | 88M | 89M | 86M | 87M | 94M |
| Debt/Equity | 0.71 | 1.25 | 1.00 | 1.23 | 0.96 | 0.41 | 0.23 | 0.19 | 0.63 | 1.10 | 0.96 | 0.76 | 0.57 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 |
| Equity | 124M | 198M | 213M | 242M | 262M | 299M | 350M | 472M | 292M | 404M | 406M | 486M | 767M |
| Total Assets | 1.1B | 1.9B | 2.0B | 2.2B | 2.3B | 2.4B | 3.1B | 4.1B | 4.1B | 5.1B | 5.1B | 5.2B | 7.2B |
| Total Liabilities | 1.0B | 1.7B | 1.8B | 1.9B | 2.1B | 2.1B | 2.7B | 3.7B | 3.8B | 4.7B | 4.7B | 4.8B | 6.4B |
| Intangibles | 3.2M | 7.8M | 8.0M | 7.2M | 5.8M | 4.4M | 3.8M | 8.4M | 7.0M | 23M | 21M | 18M | 37M |
| Retained Earnings | 21M | 26M | 43M | 59M | 84M | 109M | 138M | 174M | 212M | 237M | 257M | 286M | 296M |
| Working Capital | 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 |
| Current Assets | 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 |
| Current Liabilities | 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 |
| Per Share Data | |||||||||||||
| EPS | 0.48 | 0.36 | 0.76 | 0.82 | 1.16 | 1.28 | 1.47 | 1.77 | 1.79 | 1.33 | 1.22 | 1.45 | 1.36 |
| Owner EPS | 0.55 | 0.15 | 0.76 | 0.91 | 1.22 | 1.24 | 1.56 | 1.71 | 2.21 | 1.41 | 1.53 | 1.35 | 0.71 |
| Book Value | 6.62 | 8.85 | 7.88 | 8.74 | 9.34 | 10.71 | 12.29 | 16.13 | 8.63 | 10.77 | 10.78 | 12.90 | 12.96 |
| Cash Flow/Share | 0.66 | 0.28 | 0.91 | 1.10 | 1.38 | 1.39 | 1.72 | 1.88 | 2.41 | 1.68 | 1.77 | 1.59 | 1.09 |
| Dividends/Share | 0.12 | 0.12 | 0.16 | 0.22 | 0.30 | 0.38 | 0.44 | 0.48 | 0.65 | 0.65 | 0.68 | 0.68 | 0.43 |
| Shares Out. | 18.7M | 22.4M | 27.0M | 27.7M | 28.1M | 27.9M | 28.5M | 29.3M | 33.9M | 37.5M | 37.7M | 37.6M | 59.2M |
| Valuation | |||||||||||||
| P/E Ratio | 12.2 | 16.4 | 13.6 | 13.3 | 8.1 | 9.9 | 7.2 | 8.7 | 6.8 | 9.9 | 10.9 | N/A | 11.1 |
| P/FCF | 9.7 | 26.4 | 11.8 | 10.2 | 6.9 | 9.5 | 6.7 | 8.4 | 5.2 | 8.4 | 9.1 | N/A | 19.1 |
| EV/EBIT | 92.7 | 121.6 | 266.8 | 437.6 | 10.0 | 234.3 | 5.8 | 7.6 | 149.2 | 210.0 | 188.2 | N/A | -68.1 |
| Price/Book | 0.9 | 0.7 | 1.3 | 1.3 | 1.0 | 1.2 | 0.9 | 1.0 | 1.4 | 1.2 | 1.2 | N/A | 1.2 |
| Price/Sales | 1.9 | 1.9 | 2.1 | 2.9 | 3.0 | 2.8 | 2.1 | 2.6 | 2.6 | 2.3 | 2.8 | N/A | 4.5 |
| FCF Yield | 10.3% | 3.8% | 8.5% | 9.8% | 14.4% | 10.5% | 15.0% | 11.9% | 19.2% | 11.9% | 10.9% | N/A | 5.2% |
| Market Cap | 109M | 132M | 280M | 303M | 265M | 354M | 303M | 449M | 410M | 495M | 502M | 0 | 899M |
| Avg. Price | 5.35 | 5.78 | 7.10 | 10.36 | 11.07 | 10.95 | 9.86 | 13.07 | 13.00 | 11.19 | 12.81 | 0.00 | 15.19 |
| Year-End Price | 5.84 | 5.92 | 10.33 | 10.94 | 9.45 | 12.66 | 10.64 | 15.34 | 12.12 | 13.19 | 13.33 | 0.00 | 15.19 |
FARMERS NATIONAL BANC CORP /OH/ passes 4 of 9 quality checks, suggesting mixed fundamentals.
FARMERS NATIONAL BANC CORP /OH/ trades at 10.5x trailing earnings, compared to its 15-year median P/E of 9.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.3x vs a median of 8.4x. The company's 5-year average ROIC is 10.9% with a gross margin of 76.7%. Total shareholder yield (dividends) is 2.8%. At current prices, the estimated annualized return to fair value is -1.6%.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a net profit margin of 19.5%. This is a healthy margin.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) generated $52 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a debt-to-equity ratio of 0.76. This indicates moderate leverage.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) reported earnings per share (EPS) of $1.45 in its most recent fiscal year.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a return on equity (ROE) of 12.2%. This indicates moderate shareholder returns.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a 5-year average gross margin of 76.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for FARMERS NATIONAL BANC CORP /OH/ (FMNB), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FARMERS NATIONAL BANC CORP /OH/ (FMNB) has a book value per share of $12.90, based on its most recent annual SEC filing.
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