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Farmers and Merchants BancsharesFMBN 49 Shiller PE Ratio is 28.47 as of Sep. 08, 2026, which is 62% above its 10-year median of 17.54. GuruFocus rates FMBN with a GF Score™ of 49/100 and a GF Value™ of $24.00 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,236 Banks companies, Farmers and Merchants Bancshares ranks worse than 90.05% on this metric.
The historical rank and industry rank for Farmers and Merchants Bancshares's Shiller PE Ratio or its related term are showing as below:
FMBN'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 13.39 Med: 17.54 Max: 28.47
Current: 28.42
During the past 11 years, Farmers and Merchants Bancshares's highest Shiller PE Ratio was 28.47. The lowest was 13.39. And the median was 17.54.
FMBN's Shiller PE Ratio is ranked worse than 90.05% of 1236
companies
in the Banks industry
Industry Median: 14.01
vs FMBN: 28.42
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
Farmers and Merchants Bancshares's adjusted earnings per share data of for the fiscal year that ended in Dec25 was $0.340. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $1.37 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Farmers and Merchants Bancshares (OTCPK:FMBN) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
Farmers and Merchants Bancshares Shiller PE Ratio Related Terms
Farmers and Merchants Bancshares Shiller PE Ratio Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Farmers and Merchants Bancshares Shiller PE Ratio Chart
FMBN vs CWBK, CCNB, JDVB: Shiller PE Ratio Comparison
For the Banks - Regional subindustry, Farmers and Merchants Bancshares's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Farmers and Merchants Bancshares Shiller PE Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Farmers and Merchants Bancshares's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Farmers and Merchants Bancshares's Shiller PE Ratio falls into.
Farmers and Merchants Bancshares Shiller PE Ratio Calculation
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
Farmers and Merchants Bancshares (FMBN) has a Shiller PE Ratio of 28.47 as of Sep. 08, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Farmers and Merchants Bancshares and its competitors. This is 62% above median its historical median of 17.54. Over the past decade, Farmers and Merchants Bancshares' Shiller PE Ratio has ranged from 13.39 to 28.47. According to the industry distribution chart, Farmers and Merchants Bancshares ranks #1113 out of 1236 companies in the Banks industry, placing it in the top 90%.
Is Farmers and Merchants Bancshares' Shiller PE Ratio too high?
Farmers and Merchants Bancshares' current Shiller PE Ratio of 28.47 is 62% above median its 10-year median of 17.54. Over the past 10 years, this metric has ranged from a low of 13.39 to a high of 28.47. The Banks industry median Shiller PE Ratio is 14.01. Farmers and Merchants Bancshares' value of 28.47 is 103.2% above this industry median. Based on the distribution chart, Farmers and Merchants Bancshares ranks #1113 out of 1236 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Farmers and Merchants Bancshares has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Farmers and Merchants Bancshares' Shiller PE Ratio compare to CWBK and CCNB?
According to the Banks industry distribution chart, Farmers and Merchants Bancshares ranks #1113 out of 1236 companies for Shiller PE Ratio. This places Farmers and Merchants Bancshares in the lower half of its industry. The industry median Shiller PE Ratio is 14.01. Farmers and Merchants Bancshares' value of 28.47 is 103.2% above this benchmark. Historically, Farmers and Merchants Bancshares' own Shiller PE Ratio has ranged from 13.39 to 28.47 over the past decade. While the company's 10-year median is 17.54 vs. the industry median of 14.01, Farmers and Merchants Bancshares has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shiller PE Ratio for a Banks company?
The median Shiller PE Ratio among Banks companies is 14.01, based on 1,236 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Farmers and Merchants Bancshares's current Shiller PE Ratio of 28.47 is 103.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Farmers and Merchants Bancshares and its competitors. For the Banks industry, the median Shiller PE Ratio is 14.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Farmers and Merchants Bancshares's current Shiller PE Ratio is 28.47, which is 62% above median its own 10-year median of 17.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Farmers and Merchants Bancshares stock overvalued right now?
Based on GuruFocus' analysis, Farmers and Merchants Bancshares (FMBN) is currently considered Significantly Overvalued. The stock's GF Value™ is $24.00, compared to a current price of $39.00 — trading 62.5% above its estimated fair value. The current Shiller PE Ratio is 28.47, which is 62% above median its 10-year median of 17.54 and 103.2% above the Banks industry median of 14.01. Farmers and Merchants Bancshares' overall GF Score™ is 49/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For Farmers and Merchants Bancshares (FMBN), the current Shiller PE Ratio is 28.47 as of Sep. 08, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Farmers and Merchants Bancshares (FMBN) Overvalued in 2026?
Based on GuruFocus' analysis, Farmers and Merchants Bancshares stock appears to be overvalued.
The current stock price of $39.00 is trading 62.5% above its estimated GF Value™ of $24.00.
GuruFocus considers Farmers and Merchants Bancshares to be Significantly Overvalued.
Key valuation signals for FMBN:
Shiller PE Ratio: 28.47 (62% above median its 10-year median of 17.54)
GF Value™: $24.00 vs. price of $39.00 (62.5% above fair value)
Industry Position: 103.2% above the Banks median (#1113 of 1236)
No single metric tells the full story. See the FMBN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Farmers and Merchants Bancshares Inc is a bank holding company. The company provides financial services through its offices in the greater Burlington, Iowa area. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, agricultural, commercial and installment loans.
49GF Score
Get the complete analysis for FMBN
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