Farmers National Banc Corp. (FMNB) Key Metrics
FMNB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $906.5M
- Enterprise value
- $1.21B
- P/E (TTM)
- 10.3 10-yr median 10.9
- Forward P/E
- 11.2
- PEG ratio
- 2.73
- Price / sales
- 4.2 10-yr median 2.9
- Price / book
- 1.1 10-yr median 1.3
- EV / EBITDA
- — 10-yr median 4.5
- Dividend yield
- 4.71% $0.72 a year
- Beta
- 0.80
FMNB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFMNB valuation Price multiples at each fiscal year-end price.
FMNB returns How much profit the business earns on the capital it uses.
FMNB per-share figures Results divided by the shares outstanding at year-end.
FMNB financial health Debt, liquidity and how easily interest is covered.
FMNB efficiency & capital use Working capital cycle and where the cash goes.
FMNB valuation history
FMNB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FMNB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FMNB cash returned to shareholders
FMNB price vs earnings per share
FMNB key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $501.3M | $533.4M | $541.8M | $479.1M | $543.1M | $376.8M | $454.9M | $356.4M | $407.4M | $383.4M |
| Enterprise value | −$494.9M | $272.6M | −$343.1M | −$627.1M | −$908.7M | −$140.4M | $121.7M | $186.9M | $292.8M | $207.2M |
| P/E ratio | 9.2 | 11.6 | 10.9 | 7.9 | 10.5 | 9.0 | 12.7 | 10.9 | 17.9 | 18.7 |
| Price / sales | 1.8 | 2.0 | 2.5 | 2.7 | 3.5 | 2.5 | 3.5 | 3.0 | 3.9 | 4.0 |
| Price / book | 1.0 | 1.3 | 1.3 | 1.6 | 0.1 | 1.1 | 1.5 | 1.4 | 1.7 | 1.8 |
| Price / free cash flow | 9.6 | 9.7 | 9.2 | 6.1 | 10.1 | 8.1 | 12.2 | 9.3 | 13.8 | 16.3 |
| Price / operating cash flow | 8.3 | 8.0 | 8.6 | 5.7 | 9.9 | 7.5 | 11.7 | 9.2 | 13.3 | 15.7 |
| EV / sales | -1.8 | 1.0 | -1.6 | -3.5 | -5.9 | -0.9 | 0.9 | 1.6 | 2.8 | 2.2 |
| EV / EBITDA | — | 4.4 | — | — | — | — | 2.6 | 4.5 | 8.1 | 6.5 |
| EV / free cash flow | — | 5.0 | — | — | — | — | 3.3 | 4.9 | 9.9 | 8.8 |
| Earnings yield | 10.9% | 8.6% | 9.2% | 12.6% | 9.5% | 11.1% | 7.9% | 9.1% | 5.6% | 5.4% |
| Free cash flow yield | 10.4% | 10.3% | 10.9% | 16.3% | 9.9% | 12.3% | 8.2% | 10.8% | 7.3% | 6.1% |
| Dividend yield | 5.1% | 4.8% | 4.7% | 4.6% | 2.6% | 3.4% | 2.3% | 2.3% | 1.5% | 1.1% |
| Shareholder yield (dividends + buybacks) | 5.1% | 4.9% | 6.8% | 4.6% | 2.6% | 7.1% | 2.9% | 2.7% | 1.5% | 1.2% |
| Share price at fiscal year-end | $13.32 | $14.22 | $14.45 | $14.12 | $18.55 | $13.27 | $16.32 | $12.74 | $14.75 | $14.20 |
| Per share | ||||||||||
| Revenue per share | $7.22 | $7.18 | $5.69 | $5.24 | $5.28 | $5.23 | $4.66 | $4.19 | $3.79 | $3.55 |
| Earnings per share | $1.45 | $1.22 | $1.33 | $1.79 | $1.77 | $1.47 | $1.28 | $1.16 | $0.82 | $0.76 |
| Operating cash flow per share | $1.60 | $1.78 | $1.68 | $2.47 | $1.88 | $1.76 | $1.39 | $1.39 | $1.11 | $0.91 |
| Free cash flow per share | $1.39 | $1.46 | $1.57 | $2.30 | $1.83 | $1.63 | $1.34 | $1.37 | $1.07 | $0.87 |
| Cash per share | $36.24 | $17.38 | $35.43 | $38.00 | $52.61 | $20.99 | $16.34 | $15.02 | $14.89 | $14.43 |
| Book value per share | $12.91 | $10.82 | $10.78 | $8.61 | $138.49 | $12.33 | $10.74 | $9.38 | $8.76 | $7.90 |
| Tangible book value per share | $7.98 | $5.81 | $5.71 | $5.62 | $134.99 | $10.58 | $9.21 | $7.81 | $7.12 | $6.22 |
| Dividends per share | $0.68 | $0.68 | $0.68 | $0.65 | $0.48 | $0.45 | $0.38 | $0.30 | $0.22 | $0.16 |
| Capex per share | $0.21 | $0.31 | $0.10 | $0.16 | $0.05 | $0.13 | $0.05 | $0.02 | $0.03 | $0.03 |
| Debt per share | $9.77 | $10.43 | $11.83 | $5.40 | $3.03 | $2.78 | $4.38 | $8.97 | $10.74 | $7.91 |
| Shares outstanding | 37.6M | 37.5M | 37.5M | 33.9M | 29.3M | 28.4M | 27.9M | 28.0M | 27.6M | 27.0M |
| Change in shares outstanding | +0.3% | +0.0% | +10.5% | +15.9% | +3.1% | +1.9% | −0.4% | +1.3% | +2.3% | +19.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.2% | 11.3% | 14.3% | 2.8% | 2.4% | 12.9% | 12.7% | 12.9% | 10.0% | 10.0% |
| Return on invested capital (ROIC) | — | — | — | — | 4.3% | — | — | 29.6% | 27.6% | 62.1% |
| Return on assets (ROA) | 1.1% | 0.9% | 1.1% | 1.5% | 1.4% | 1.5% | 1.5% | 1.5% | 1.1% | 1.1% |
| Return on tangible assets | 1.1% | 0.9% | 1.0% | 1.5% | 1.3% | 1.4% | 1.5% | 1.4% | 1.1% | 1.1% |
| Free cash flow margin | 19.2% | 20.4% | 27.7% | 43.9% | 34.6% | 31.2% | 28.7% | 32.7% | 28.3% | 24.6% |
| Income quality (OCF / net income) | 1.10 | 1.45 | 1.26 | 1.38 | 1.06 | 1.19 | 1.08 | 1.19 | 1.35 | 1.19 |
| Financial health | ||||||||||
| Total debt | $367.7M | $391.1M | $443.7M | $183.2M | $88.6M | $78.9M | $122.2M | $250.8M | $296.6M | $213.5M |
| Cash & short-term investments | $1.36B | $651.9M | $1.33B | $1.29B | $1.54B | $596.1M | $455.5M | $420.2M | $411.1M | $389.7M |
| Net debt | −$996.2M | −$260.8M | −$884.9M | −$1.11B | −$1.45B | −$517.2M | −$333.3M | −$169.4M | −$114.6M | −$176.2M |
| Debt / equity | 0.76 | 0.96 | 1.10 | 0.63 | 0.02 | 0.23 | 0.41 | 0.96 | 1.23 | 1.00 |
| Debt / assets | 0.07 | 0.08 | 0.09 | 0.04 | 0.02 | 0.03 | 0.05 | 0.11 | 0.14 | 0.11 |
| Net debt / EBITDA | −13.87 | −4.22 | −15.08 | −14.23 | −22.11 | −9.69 | −7.26 | −4.11 | −3.16 | −5.56 |
| Current ratio | 0.33 | 0.14 | 0.29 | 0.35 | 0.54 | 0.23 | 0.22 | 0.21 | 0.22 | 0.23 |
| Quick ratio | 0.33 | 0.14 | 0.29 | 0.35 | 0.54 | 0.23 | 0.22 | 0.21 | 0.22 | 0.23 |
| Interest coverage | 0.7 | 0.6 | 0.8 | 4.1 | 7.3 | 3.1 | 2.2 | 2.9 | 4.8 | 6.4 |
| Working capital | −$190.0M | −$3.92B | −$3.20B | −$2.37B | −$1.32B | −$2.02B | −$1.63B | −$1.62B | −$1.48B | −$1.33B |
| Invested capital | −$510.5M | $145.3M | −$480.5M | −$813.9M | $2.60B | −$167.1M | −$34.0M | $92.9M | $127.5M | $37.0M |
| Tangible asset value | $300.4M | $217.8M | $214.1M | $190.6M | $3.95B | $300.5M | $256.7M | $218.4M | $196.7M | $168.1M |
| Net current asset value | −$4.67B | −$4.06B | −$3.35B | −$2.50B | $1.45B | −$2.12B | −$1.69B | −$1.65B | −$1.51B | −$1.36B |
| Graham number | $20.52 | $17.27 | $17.98 | $18.61 | $74.28 | $20.23 | $17.60 | $15.67 | $12.73 | $11.63 |
| Graham net-net per share | −$90.25 | −$108.26 | −$89.21 | −$73.70 | $49.61 | −$74.84 | −$60.78 | −$58.85 | −$54.52 | −$50.48 |
| Capital allocation | ||||||||||
| Dividends paid | $25.5M | $25.4M | $25.4M | $22.0M | $14.1M | $12.7M | $10.5M | $8.3M | $6.0M | $4.3M |
| Share buybacks (net) | $0 | $880,000 | $11.5M | $0 | $164,000 | $14.2M | $2.8M | $1.2M | $0 | $168,000 |
| Dividend payout ratio | 46.7% | 55.3% | 50.9% | 36.3% | 27.1% | 30.2% | 29.5% | 25.5% | 26.5% | 21.0% |
| Dividends + buybacks / free cash flow | 48.8% | 47.8% | 62.6% | 28.1% | 26.6% | 58.1% | 35.9% | 24.9% | 20.3% | 19.1% |
| Capex / revenue | 2.9% | 4.3% | 1.8% | 3.1% | 0.9% | 2.5% | 1.1% | 0.4% | 0.9% | 0.8% |
| Capex / operating cash flow | 13.1% | 17.6% | 6.2% | 6.6% | 2.5% | 7.4% | 3.8% | 1.2% | 3.1% | 3.2% |
| Capex / depreciation | 1.16 | 1.83 | 0.53 | 1.12 | 0.39 | 1.18 | 0.51 | 0.15 | 0.30 | 0.21 |
| Stock-based compensation / revenue | 0.9% | 1.0% | 1.2% | 1.0% | 0.8% | 1.0% | 1.1% | 1.4% | 2.3% | 0.9% |
| SG&A / revenue | 29.2% | 2.2% | 27.7% | 26.4% | 26.7% | 27.9% | 30.2% | 33.7% | 36.5% | 36.9% |
| Efficiency | ||||||||||
| Days of inventory on hand | — | — | — | 1.4 | — | — | 0.3 | — | 11.6 | 31.5 |
| Days payables outstanding | — | — | — | 68,133.2 | 84,108.3 | 33,409.5 | 31,511.7 | 38,199.2 | 55,823.4 | 64,915.0 |
| Payables turnover | — | — | — | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Inventory turnover | — | — | — | 260.85 | — | — | 1,160.95 | — | 31.34 | 11.58 |
| Asset turnover | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Average payables | — | — | — | $3.55B | $3.08B | $2.31B | $1.90B | $1.70B | $1.56B | $1.47B |
| Average inventory | — | — | — | $73,000 | — | — | $19,000 | — | $326,500 | $712,000 |
| Intangibles / total assets | 3.5% | 3.7% | 3.7% | 2.5% | 2.5% | 1.6% | 1.7% | 1.9% | 2.1% | 2.3% |
Computed from FMNB's annual financial statements (latest annual report filed March 5, 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.
FMNB valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Farmers National Banc traded at 9.2 times earnings, against a 10-year median of 10.9. Based on the latest twelve months, the trailing P/E is 10.3 and the forward P/E is 11.2. Farmers National Banc earned a return on equity of 12.2% in fiscal 2025. It ended the year with $367.7 million of debt and $1.4 billion in cash and short-term investments, a net cash position of $996.2 million. It returned $25.5 million to shareholders: $25.5 million in dividends and $0 in share buybacks, 49% of free cash flow. The share count rose 39.4% from 27.0M to 37.6M over 9 years.
See the FMNB income statement, the FMNB chart for price history, or the FMNB stock overview for the latest quote and news.
FMNB key metrics FAQ
What is Farmers National Banc's P/E ratio?
Farmers National Banc's trailing P/E ratio is 10.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.2. At the end of fiscal 2025 it was 9.2, compared with a 10-year median of 10.9.
What is Farmers National Banc's return on equity?
Farmers National Banc's return on equity (ROE) was 12.2% in fiscal 2025: net income of $54.6 million on average shareholders' equity of $445.9 million.
How much debt does Farmers National Banc have?
Farmers National Banc had total debt of $367.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.76 and more cash than debt.
What is Farmers National Banc's dividend yield?
Farmers National Banc's forward dividend yield is 4.71%. Farmers National Banc paid $25.5 million in dividends in fiscal 2025 ($0.68 per share), a payout ratio of 46.7%.
What is Farmers National Banc's free cash flow yield?
Farmers National Banc generated $52.2 million of free cash flow in fiscal 2025, a free cash flow yield of 10.4% on its market value at year-end ($501.3 million).
What is Farmers National Banc's current ratio?
Farmers National Banc's current ratio was 0.33 at the end of fiscal 2025: current assets were 0.33 times current liabilities.