Ames National Corporation (ATLO) Key Metrics
ATLO valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $284.9M
- Enterprise value
- $240.3M
- P/E (TTM)
- 12.5 10-yr median 14.2
- Forward P/E
- 12.8
- PEG ratio
- 1.03
- Price / sales
- 3.7 10-yr median 3.1
- Price / book
- 1.3 10-yr median 1.3
- EV / EBITDA
- —
- Dividend yield
- 2.98% $0.96 a year
- Beta
- 0.30
ATLO key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsATLO valuation Price multiples at each fiscal year-end price.
ATLO returns How much profit the business earns on the capital it uses.
ATLO per-share figures Results divided by the shares outstanding at year-end.
ATLO financial health Debt, liquidity and how easily interest is covered.
ATLO efficiency & capital use Working capital cycle and where the cash goes.
ATLO valuation history
ATLO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ATLO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ATLO cash returned to shareholders
ATLO price vs earnings per share
ATLO key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $204.9M | $147.7M | $191.9M | $213.3M | $223.2M | $219.7M | $259.2M | $236.7M | $259.5M | $307.2M |
| Enterprise value | −$411.4M | −$55.1M | −$443.9M | −$535.9M | −$671.0M | −$528.5M | −$317.2M | −$225.5M | −$233.3M | −$198.7M |
| P/E ratio | 10.8 | 14.5 | 17.7 | 11.1 | 9.3 | 11.7 | 15.1 | 13.9 | 18.9 | 19.5 |
| Price / sales | 2.1 | 1.6 | 2.3 | 3.0 | 3.1 | 3.0 | 4.0 | 4.1 | 4.8 | 5.9 |
| Price / book | 1.0 | 0.8 | 1.2 | 1.4 | 1.1 | 1.0 | 1.4 | 1.4 | 1.5 | 1.9 |
| Price / free cash flow | 9.9 | 10.6 | 13.4 | 11.6 | 7.8 | 7.7 | 13.4 | 11.8 | 14.2 | 14.8 |
| Price / operating cash flow | 9.6 | 10.3 | 10.0 | 10.0 | 7.3 | 7.4 | 12.8 | 11.4 | 13.8 | 14.3 |
| EV / sales | -4.2 | -0.6 | -5.3 | -7.5 | -9.4 | -7.2 | -4.9 | -3.9 | -4.3 | -3.8 |
| Earnings yield | 9.3% | 6.9% | 5.6% | 9.0% | 10.7% | 8.6% | 6.6% | 7.2% | 5.3% | 5.1% |
| Free cash flow yield | 10.1% | 9.5% | 7.5% | 8.6% | 12.8% | 13.0% | 7.5% | 8.5% | 7.0% | 6.7% |
| Dividend yield | 3.5% | 6.1% | 5.1% | 4.5% | 4.2% | 4.1% | 3.4% | 4.6% | 3.1% | 2.5% |
| Shareholder yield (dividends + buybacks) | 4.3% | 6.6% | 5.1% | 5.6% | 4.5% | 5.0% | 4.1% | 4.8% | 3.1% | 2.5% |
| Share price at fiscal year-end | $22.96 | $16.43 | $21.34 | $23.61 | $24.49 | $24.02 | $28.06 | $25.42 | $27.85 | $33.00 |
| Per share | ||||||||||
| Revenue per share | $11.01 | $10.28 | $9.29 | $7.89 | $7.79 | $8.04 | $7.02 | $6.19 | $5.77 | $5.60 |
| Earnings per share | $2.13 | $1.14 | $1.20 | $2.14 | $2.62 | $2.06 | $1.86 | $1.83 | $1.47 | $1.69 |
| Operating cash flow per share | $2.39 | $1.59 | $2.14 | $2.35 | $3.35 | $3.25 | $2.18 | $2.22 | $2.02 | $2.30 |
| Free cash flow per share | $2.32 | $1.56 | $1.59 | $2.03 | $3.15 | $3.11 | $2.10 | $2.16 | $1.96 | $2.23 |
| Cash per share | $75.81 | $33.61 | $89.01 | $91.77 | $102.81 | $86.20 | $67.49 | $55.36 | $60.93 | $62.00 |
| Book value per share | $23.30 | $19.43 | $18.44 | $16.51 | $22.80 | $22.90 | $20.31 | $18.57 | $18.33 | $17.73 |
| Tangible book value per share | $21.82 | $17.93 | $16.90 | $14.92 | $21.16 | $21.20 | $18.57 | $17.25 | $17.49 | $16.86 |
| Dividends per share | $0.80 | $1.01 | $1.08 | $1.07 | $1.03 | $0.99 | $0.95 | $1.16 | $0.87 | $0.83 |
| Capex per share | $0.07 | $0.03 | $0.54 | $0.32 | $0.21 | $0.14 | $0.08 | $0.07 | $0.07 | $0.07 |
| Debt per share | $6.74 | $11.05 | $18.30 | $8.83 | $4.70 | $4.40 | $5.09 | $5.72 | $8.04 | $7.66 |
| Shares outstanding | 8.9M | 9.0M | 9.0M | 9.0M | 9.1M | 9.1M | 9.2M | 9.3M | 9.3M | 9.3M |
| Change in shares outstanding | −0.8% | −0.0% | −0.5% | −0.9% | −0.4% | −1.0% | −0.8% | −0.1% | +0.1% | −0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.9% | 6.0% | 6.9% | 10.8% | 11.5% | 9.5% | 9.5% | 9.9% | 8.2% | 9.6% |
| Return on assets (ROA) | 0.9% | 0.5% | 0.5% | 0.9% | 1.2% | 1.0% | 1.1% | 1.2% | 1.0% | 1.2% |
| Return on tangible assets | 0.9% | 0.5% | 0.5% | 0.9% | 1.1% | 1.0% | 1.0% | 1.2% | 1.0% | 1.2% |
| Free cash flow margin | 21.1% | 15.1% | 17.1% | 25.8% | 40.4% | 38.7% | 29.9% | 34.8% | 33.9% | 39.8% |
| Income quality (OCF / net income) | 1.12 | 1.40 | 1.78 | 1.10 | 1.28 | 1.58 | 1.17 | 1.22 | 1.38 | 1.36 |
| Financial health | ||||||||||
| Total debt | $60.2M | $99.4M | $164.6M | $79.8M | $42.9M | $40.3M | $47.0M | $53.3M | $74.9M | $71.3M |
| Cash & short-term investments | $676.4M | $302.2M | $800.4M | $829.0M | $937.1M | $788.5M | $623.4M | $515.4M | $567.8M | $577.3M |
| Net debt | −$616.3M | −$202.8M | −$635.8M | −$749.2M | −$894.2M | −$748.2M | −$576.4M | −$462.1M | −$492.8M | −$506.0M |
| Debt / equity | 0.29 | 0.57 | 0.99 | 0.54 | 0.21 | 0.19 | 0.25 | 0.31 | 0.44 | 0.43 |
| Debt / assets | 0.03 | 0.05 | 0.08 | 0.04 | 0.02 | 0.02 | 0.03 | 0.04 | 0.05 | 0.05 |
| Net debt / EBITDA | −24.85 | −14.56 | −43.43 | −27.59 | −27.35 | −29.34 | −25.18 | −20.11 | −21.63 | −20.98 |
| Current ratio | 4.95 | 0.17 | 0.43 | 0.43 | 0.49 | 0.45 | 0.41 | 1.48 | 1.39 | 1.42 |
| Quick ratio | 4.95 | 0.17 | 1.11 | 0.46 | 0.55 | 0.57 | 0.52 | 1.48 | 1.39 | 1.42 |
| Interest coverage | 0.7 | 0.3 | 0.4 | 3.0 | 6.8 | 2.9 | 1.9 | 2.8 | 3.8 | 5.5 |
| Working capital | $1.56B | −$1.59B | −$1.06B | −$1.10B | −$976.7M | −$961.8M | −$907.2M | $316.1M | $239.3M | $243.0M |
| Invested capital | −$408.4M | −$28.1M | −$470.0M | −$600.1M | −$686.4M | −$538.7M | −$388.8M | −$289.3M | −$322.1M | −$340.9M |
| Tangible asset value | $194.7M | $161.2M | $151.9M | $134.7M | $192.8M | $193.9M | $171.5M | $160.6M | $162.9M | $157.0M |
| Net current asset value | $31.0M | −$1.64B | −$1.18B | −$1.15B | −$982.1M | −$966.5M | −$914.4M | −$314.3M | −$350.8M | −$375.1M |
| Graham number | $33.43 | $22.29 | $22.34 | $28.16 | $36.69 | $32.58 | $29.16 | $27.63 | $24.62 | $25.97 |
| Graham net-net per share | −$32.39 | −$183.06 | −$200.89 | −$130.11 | −$114.41 | −$117.04 | −$107.94 | −$81.62 | −$67.62 | −$66.37 |
| Capital allocation | ||||||||||
| Dividends paid | $7.1M | $9.1M | $9.7M | $9.7M | $9.4M | $9.1M | $8.8M | $10.8M | $8.1M | $7.7M |
| Share buybacks (net) | $1.7M | $704,000 | $0 | $2.3M | $710,000 | $2.0M | $1.8M | $452,220 | $0 | $0 |
| Dividend payout ratio | 37.4% | 88.9% | 89.8% | 50.1% | 39.3% | 48.1% | 51.1% | 63.5% | 59.1% | 49.1% |
| Dividends + buybacks / free cash flow | 42.5% | 69.9% | 67.9% | 65.2% | 35.2% | 38.9% | 54.6% | 56.1% | 44.5% | 37.3% |
| Capex / revenue | 0.7% | 0.3% | 5.9% | 4.0% | 2.6% | 1.7% | 1.2% | 1.1% | 1.2% | 1.3% |
| Capex / operating cash flow | 3.0% | 2.1% | 25.5% | 13.5% | 6.1% | 4.2% | 3.9% | 3.0% | 3.3% | 3.2% |
| Capex / depreciation | 0.40 | 0.18 | 2.79 | 1.43 | 0.92 | 0.55 | 0.42 | 0.40 | 0.42 | 0.43 |
| Stock-based compensation / revenue | — | — | −4.2% | — | 0.2% | 5.7% | 2.0% | 3.2% | 5.6% | 4.1% |
| SG&A / revenue | 21.6% | 28.5% | 31.3% | 35.0% | 34.2% | 33.0% | 32.6% | 34.0% | 32.5% | 33.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 2,403.5 | 52.9 | 52.9 | 54.8 | 54.7 | 56.9 | 59.7 | 56.4 | 54.8 | 53.7 |
| Days of inventory on hand | — | — | -7,832.8 | -4,172.9 | -15,619.1 | -4,797.8 | -2,363.1 | 26.9 | 23.9 | 70.3 |
| Days payables outstanding | 31.8 | 37.8 | 32.2 | 46,114.3 | 92,312.8 | 226.3 | 236.4 | 275.8 | 310.8 | 453.3 |
| Cash conversion cycle (days) | 2,371.7 | 15.1 | -7,812.0 | -50,232.4 | -107,877.3 | -4,967.2 | -2,539.8 | -192.5 | -232.1 | -329.3 |
| Receivables turnover | 0.15 | 6.89 | 6.89 | 6.66 | 6.68 | 6.42 | 6.11 | 6.48 | 6.66 | 6.80 |
| Payables turnover | 11.48 | 9.65 | 11.33 | 0.01 | 0.00 | 1.61 | 1.54 | 1.32 | 1.17 | 0.81 |
| Inventory turnover | — | — | — | — | — | — | — | 13.57 | 15.25 | 5.19 |
| Asset turnover | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Average receivables | $647.0M | $13.4M | $12.1M | $10.7M | $10.6M | $11.5M | $10.6M | $8.9M | $8.1M | $7.7M |
| Average payables | $2.9M | $4.0M | $2.7M | $939.3M | $942.9M | $8.5M | $7.9M | $6.2M | $6.0M | $5.8M |
| Average inventory | — | — | −$653.8M | −$85.0M | −$159.5M | −$181.1M | −$79.3M | $607,556 | $465,633 | $897,836 |
| Intangibles / total assets | 0.6% | 0.6% | 0.6% | 0.7% | 0.7% | 0.8% | 0.9% | 0.8% | 0.6% | 0.6% |
Computed from ATLO's annual financial statements (latest annual report filed March 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ATLO valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Ames National traded at 10.8 times earnings, against a 10-year median of 14.2. Based on the latest twelve months, the trailing P/E is 12.5 and the forward P/E is 12.8. Ames National earned a return on equity of 9.9% in fiscal 2025. It ended the year with $60.2 million of debt and $676.4 million in cash and short-term investments, a net cash position of $616.3 million. It returned $8.8 million to shareholders: $7.1 million in dividends and $1.7 million in share buybacks, 43% of free cash flow. The share count fell 4.2% from 9.3M to 8.9M over 9 years.
See the ATLO income statement, the ATLO chart for price history, or the ATLO stock overview for the latest quote and news.
ATLO key metrics FAQ
What is Ames National's P/E ratio?
Ames National's trailing P/E ratio is 12.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.8. At the end of fiscal 2025 it was 10.8, compared with a 10-year median of 14.2.
What is Ames National's return on equity?
Ames National's return on equity (ROE) was 9.9% in fiscal 2025: net income of $19.0 million on average shareholders' equity of $191.3 million.
How much debt does Ames National have?
Ames National had total debt of $60.2 million at the end of fiscal 2025, a debt-to-equity ratio of 0.29 and more cash than debt.
What is Ames National's dividend yield?
Ames National's forward dividend yield is 2.98%. Ames National paid $7.1 million in dividends in fiscal 2025 ($0.80 per share), a payout ratio of 37.4%.
Does Ames National buy back its shares?
Yes. Ames National spent $1.7 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.8% over the year, to 8.9M..
What is Ames National's free cash flow yield?
Ames National generated $20.7 million of free cash flow in fiscal 2025, a free cash flow yield of 10.1% on its market value at year-end ($204.9 million).
What is Ames National's current ratio?
Ames National's current ratio was 4.95 at the end of fiscal 2025: current assets were 4.95 times current liabilities.