Ames National Corporation (ATLO) Income Statement
ATLO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsATLO revenue and net income
Where ATLO's revenue goes
2025Each bar shows an amount and its share of revenue. ATLO kept 19.4% of revenue as net income.
ATLO profit margins
ATLO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.3% | +11.3% | +6.0% | +6.7% |
| Gross profit | +20.1% | +0.7% | +1.7% | +3.5% |
| Operating income | +89.6% | −2.7% | −0.0% | +1.1% |
| Net income | +86.2% | −0.5% | +0.2% | +2.4% |
| EPS (diluted) | +87.7% | 0.0% | +0.7% | +2.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ATLO quarterly EPS vs estimates
Ames National beat the analyst EPS estimate in 4 of the last 5 quarters.
ATLO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $98.3M | $92.4M | $83.5M | $71.2M | $71.0M | $73.6M | $64.8M | $57.6M | $53.8M | $52.1M |
| Cost of revenue | $33.1M | $38.2M | $30.5M | $7.4M | $3.7M | $13.8M | $12.2M | $8.2M | $7.1M | $4.7M |
| Gross profit | $65.1M | $54.2M | $53.1M | $63.8M | $67.3M | $59.8M | $52.6M | $49.4M | $46.7M | $47.5M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $21.2M | $26.3M | $26.1M | $24.9M | $24.3M | $24.3M | $21.1M | $19.6M | $17.5M | $17.2M |
| Total operating expenses | $41.9M | $42.0M | $40.2M | $38.6M | $36.6M | $36.6M | $31.5M | $28.0M | $25.4M | $24.9M |
| Operating income | $23.2M | $12.2M | $12.9M | $25.2M | $30.7M | $23.2M | $21.0M | $21.4M | $21.3M | $22.5M |
| Interest income | $87.1M | $82.6M | $74.3M | $61.6M | $60.5M | $62.9M | $56.2M | $49.7M | $45.8M | $44.0M |
| Interest expense | $31.4M | $37.6M | $29.7M | $8.3M | $4.5M | $8.1M | $10.9M | $7.6M | $5.6M | $4.1M |
| Income before taxes | $23.9M | $12.2M | $12.9M | $25.2M | $30.7M | $23.2M | $21.0M | $21.4M | $21.3M | $22.5M |
| Income taxes | $4.8M | $2.0M | $2.1M | $5.9M | $6.8M | $4.4M | $3.8M | $4.4M | $7.6M | $6.8M |
| Net income | $19.0M | $10.2M | $10.8M | $19.3M | $23.9M | $18.9M | $17.2M | $17.0M | $13.7M | $15.7M |
| EBITDA | $24.8M | $13.9M | $14.6M | $27.2M | $32.7M | $25.5M | $22.9M | $23.0M | $22.8M | $24.1M |
| EPS (diluted) | $2.14 | $1.14 | $1.21 | $2.14 | $2.62 | $2.07 | $1.87 | $1.93 | $1.60 | $1.67 |
| Gross margin | 66.3% | 58.7% | 63.5% | 89.6% | 94.8% | 81.3% | 81.1% | 85.7% | 86.8% | 91.1% |
| Operating margin | 23.6% | 13.2% | 15.4% | 35.3% | 43.2% | 31.6% | 32.5% | 37.2% | 39.6% | 43.2% |
| Net margin | 19.4% | 11.1% | 13.0% | 27.1% | 33.7% | 25.6% | 26.5% | 29.5% | 25.5% | 30.2% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.6M | $26.0M | $25.0M | $26.1M | $24.4M | $24.1M | $23.7M | $23.9M | $23.1M | $23.2M | $22.3M | $22.1M |
| Cost of revenue | — | $7.1M | $6.4M | $7.4M | $8.4M | $8.1M | $9.2M | $9.0M | $10.0M | $9.8M | $9.4M | $9.6M |
| Gross profit | — | $18.9M | $18.6M | $18.7M | $16.0M | $16.0M | $14.5M | $14.9M | $13.1M | $13.3M | $12.9M | $12.5M |
| Sales, general & admin | $1.0M | $910,000 | $770,000 | $7.4M | $6.6M | $540,000 | $6.6M | $6.5M | $6.6M | $7.0M | $6.9M | $6.6M |
| Total operating expenses | $1.0M | $11.2M | $10.9M | $11.1M | $10.2M | $10.4M | $10.3M | $10.5M | $10.5M | $10.7M | $10.2M | $10.0M |
| Operating income | — | $7.7M | $7.7M | $7.6M | $5.7M | $5.6M | $4.2M | $4.3M | $2.6M | $2.6M | $2.7M | $2.5M |
| Interest income | — | $23.3M | $22.2M | $22.6M | $21.9M | $21.5M | $21.1M | $21.2M | $20.7M | $20.5M | $20.1M | $19.9M |
| Interest expense | $6.7M | $6.9M | $6.8M | $7.4M | $7.8M | $8.0M | $8.2M | $9.1M | $9.6M | $9.7M | $9.2M | $8.9M |
| Income before taxes | $9.1M | $7.7M | $7.7M | $8.3M | $5.7M | $5.6M | $4.2M | $4.3M | $2.6M | $2.6M | $2.7M | $2.5M |
| Income taxes | $2.1M | $1.8M | $1.7M | $1.8M | $1.2M | $1.1M | $794,000 | $825,000 | $397,000 | $385,000 | $416,000 | $340,000 |
| Net income | $7.0M | $5.9M | $6.0M | $6.5M | $4.6M | $4.5M | $3.4M | $3.5M | $2.2M | $2.2M | $2.3M | $2.1M |
| EBITDA | — | $7.7M | $8.1M | $8.0M | $6.1M | $6.0M | $4.6M | $4.8M | $3.0M | $3.0M | $3.1M | $2.9M |
| EPS (diluted) | $0.51 | $0.67 | $0.67 | $0.73 | $0.51 | $0.51 | $0.39 | $0.39 | $0.25 | $0.24 | $0.26 | $0.24 |
| Gross margin | — | 72.7% | 74.2% | 71.6% | 65.4% | 66.3% | 61.3% | 62.3% | 56.7% | 57.5% | 57.9% | 56.4% |
| Operating margin | — | 29.7% | 30.8% | 29.2% | 23.4% | 23.4% | 17.9% | 18.2% | 11.3% | 11.1% | 12.2% | 11.2% |
| Net margin | 29.8% | 22.8% | 23.8% | 25.0% | 18.7% | 18.7% | 14.5% | 14.7% | 9.6% | 9.4% | 10.3% | 9.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ATLO's financial statements (latest annual report filed March 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ATLO financial results
In fiscal year 2025 (ended December 31, 2025), Ames National reported revenue of $98.3 million, up 6.3% from the year before. It had net income of $19.0 million (up 86.2%), a net profit margin of 19.4%. Diluted earnings per share came to $2.14. Over five years revenue grew at an average rate of 6.0% a year.
See the ATLO stock overview for the latest quote and news, or the ATLO chart for price history and technical indicators.
ATLO income statement FAQ
What is Ames National's annual revenue?
Ames National reported total revenue of $98.3 million for fiscal year 2025, which ended on December 31, 2025. That was up 6.3% from $92.4 million the previous year.
Is Ames National profitable?
Yes. Ames National reported net income of $19.0 million in fiscal 2025, a net profit margin of 19.4%; its operating margin was 23.6%.
What is Ames National's gross margin?
Ames National's gross margin was 66.3% in fiscal 2025: for every $100 of revenue, Ames National kept $66 after the direct cost of its products and services.
How fast is Ames National growing?
Revenue grew 6.0% a year on average over the last five fiscal years, from $73.6 million to $98.3 million.
What are Ames National's earnings per share?
Ames National earned $2.14 per diluted share in fiscal 2025, compared with $1.14 a year earlier.
When does Ames National's fiscal year end?
Ames National's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 12, 2026.