FMAO (Farmers & Merchants Bancorp) Scaled Net Operating Assets: 0.06 (As of Jun. 2026)

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FMAO Farmers & Merchants Bancorp Inc FMAO
63 GF Score
Price $33.65
GF Value $29.13
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Farmers & Merchants Bancorp Scaled Net Operating Assets?

Farmers & Merchants Bancorp FMAO +0.27% 63 Scaled Net Operating Assets is 0.06 as of Jun. 2026. GuruFocus rates FMAO with a GF Score™ of 63/100 and a GF Value™ of $29.13 (Modestly Overvalued). The stock has 5 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Farmers & Merchants Bancorp's operating assets for the quarter that ended in Jun. 2026 was $3,116.3 Mil. Farmers & Merchants Bancorp's operating liabilities for the quarter that ended in Jun. 2026 was $2,914.0 Mil. Farmers & Merchants Bancorp's Total Assets for the quarter that ended in Mar. 2026 was $3,485.6 Mil. Therefore, Farmers & Merchants Bancorp's scaled net operating assets (SNOA) for the quarter that ended in Jun. 2026 was 0.06.

FMAO
63GF Score
Farmers & Merchants Bancorp Inc FMAO
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Farmers & Merchants Bancorp Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Farmers & Merchants Bancorp's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(3335.635-2801.21)/3364.723
=0.16

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=3434.382 - 98.747
=3335.635

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3063.52 - 262.31 - 0
=2801.21

Farmers & Merchants Bancorp's Scaled Net Operating Assets (SNOA) for the quarter that ended in Jun. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Jun. 2026 )
=(Operating Assets (Q: Jun. 2026 )-Operating Liabilities (Q: Jun. 2026 ))/Total Assets (Q: Mar. 2026 )
=(3116.343-2913.964)/3485.569
=0.06

where

Operating Assets(Q: Jun. 2026 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=3502.118 - 385.775
=3116.343

Operating Liabilities(Q: Jun. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3117.402 - 203.438 - 0
=2913.964

* 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.

What does a Scaled Net Operating Assets of 0.06 mean?
Farmers & Merchants Bancorp (FMAO) has a Scaled Net Operating Assets of 0.06 as of Jun. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Farmers & Merchants Bancorp and its competitors.
Is Farmers & Merchants Bancorp's Scaled Net Operating Assets too high?
Farmers & Merchants Bancorp's current Scaled Net Operating Assets is 0.06. Overall, Farmers & Merchants Bancorp has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Farmers & Merchants Bancorp's Scaled Net Operating Assets compare to PLBC and NEWT?
Farmers & Merchants Bancorp's Scaled Net Operating Assets of 0.06 can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Banks company?
A good Scaled Net Operating Assets depends on the Banks industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Farmers & Merchants Bancorp and its competitors. Farmers & Merchants Bancorp's current Scaled Net Operating Assets is 0.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Farmers & Merchants Bancorp stock overvalued right now?
Based on GuruFocus' analysis, Farmers & Merchants Bancorp (FMAO) is currently considered Modestly Overvalued. The stock's GF Value™ is $29.13, compared to a current price of $33.65 — trading 15.5% above its estimated fair value. The current Scaled Net Operating Assets is 0.06. Farmers & Merchants Bancorp's overall GF Score™ is 63/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Farmers & Merchants Bancorp (FMAO), the current Scaled Net Operating Assets is 0.06 as of Jun. 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 & Merchants Bancorp (FMAO) Overvalued in 2026?

Based on GuruFocus' analysis, Farmers & Merchants Bancorp stock appears to be overvalued. The current stock price of $33.65 is trading 15.5% above its estimated GF Value™ of $29.13. GuruFocus considers Farmers & Merchants Bancorp to be Modestly Overvalued.

Key valuation signals for FMAO:

  • Scaled Net Operating Assets: 0.06
  • GF Value™: $29.13 vs. price of $33.65 (15.5% above fair value)
  • GF Score™: 63/100 with 5 warning signs

No single metric tells the full story. See the FMAO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Farmers & Merchants Bancorp Business Description

Address 307 North Defiance Street, Archbold, OH, USA, 43502
Farmers & Merchants Bancorp Inc is a holding company based in Ohio. The company is engaged in one segment which is commercial banking. The activities of the company include commercial, agricultural and residential mortgages as well as consumer and credit card lending activities.
63GF Score

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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$33.65
Price
$29.13
GF Value