Farmers & Merchants Bancshares, Inc. (FMFG) [Rocket]

Overview

Farmers & Merchants Bancshares, Inc. (FMFG)

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Recent News + Filings (All items)

Date Filed	Type	Description
09/26/2023	8-K	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
08/24/2023	3	Miller Emily Bollinger (Director) has filed a Form 3 on Farmers & Merchants Bancshares, Inc.
08/22/2023	S-8	Form S-8 - Securities to be offered to employees in employee benefit plans:
08/15/2023	8-K	Appointed a new director
08/14/2023	10-Q	Quarterly Report for the period ended June 30, 2023
08/14/2023	SC 13D/A	Renbaum Barry J reports a 9.1% stake in Farmers and Merchants Bancshares, Inc.
07/31/2023	8-K	Quarterly results

Revenue Mix by Segment

Financial Summary (All financials)

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
Revenues	25.9	24.7	18.8	16.5	16.2	15.8	17.0	15.5
Revenue growth	5.0%	31.8%	13.8%	2.0%	2.1%	-6.9%	9.6%
Cost of goods sold	8.8	8.2	6.9	6.2	5.9	5.6	5.3	4.9
Gross profit	17.2	16.5	11.9	10.2	10.3	10.2	11.7	10.6
Gross margin	66.2%	67.0%	63.2%	62.1%	63.5%	64.5%	68.7%	68.5%
Selling, general and administrative				1.1	1.1	1.0	0.6	0.6
Sales and marketing	0.3	0.2	0.2
General and administrative	0.9	0.4	0.4	0.4	0.4	0.4
EBITA	15.9	15.2	10.4	9.2	9.2	9.2	11.1	10.1
EBITA margin	61.1%	61.3%	55.4%	56.0%	57.2%	58.3%	65.3%	64.9%
Amortization of intangibles	0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.0
EBIT	15.8	15.1	10.4	9.2	9.2	9.2	11.0	10.0
EBIT margin	61.0%	61.2%	55.2%	55.7%	56.9%	57.9%	64.9%	64.6%
Pre-tax income	10.6	10.6	3.2	5.6	5.8	5.8	5.9	6.8
Income taxes	2.5	2.4	0.5	1.0	1.1	2.0	2.0	2.5
Tax rate	23.5%	23.0%	15.4%	18.6%	19.0%	34.6%	34.1%	37.2%
Net income	8.1	8.1	2.7	4.6	4.7	3.8	3.9	4.3
Net margin	31.2%	33.0%	14.3%	27.7%	29.2%	24.0%	23.0%	27.5%

Diluted EPS	$2.66	$2.70	$0.90	$1.54	$1.61	$2.28	$2.37	$2.61
Shares outstanding (diluted)	3.0	3.0	3.0	3.0	2.9	1.7	1.7	1.6

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.