FMBN (Farmers and Merchants Bancshares) Scaled Net Operating Assets: 0.12 (As of Dec. 2025)


FMBN Farmers and Merchants Bancshares Inc FMBN
51 GF Score
Price $35.50
GF Value $24.88
! 5 Warning Signs
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What is Farmers and Merchants Bancshares Scaled Net Operating Assets?

Farmers and Merchants Bancshares FMBN 51 Scaled Net Operating Assets is 0.12 as of Dec. 2025. GuruFocus rates FMBN with a GF Score™ of 51/100 and a GF Value™ of $24.88. 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 and Merchants Bancshares's operating assets for the quarter that ended in Dec. 2025 was $208.02 Mil. Farmers and Merchants Bancshares's operating liabilities for the quarter that ended in Dec. 2025 was $182.30 Mil. Farmers and Merchants Bancshares's Total Assets for the quarter that ended in Dec. 2024 was $216.72 Mil. Therefore, Farmers and Merchants Bancshares's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.12.

FMBN
51GF Score
Farmers and Merchants Bancshares Inc FMBN
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Farmers and Merchants Bancshares 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 and Merchants Bancshares'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 )
=(208.015-182.302)/216.724
=0.12

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=213.299 - 5.284
=208.015

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=199.926 - 17.624 - 0
=182.302

Farmers and Merchants Bancshares's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Dec. 2024 )
=(208.015-182.302)/216.724
=0.12

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Balance Sheet Cash And Cash Equivalents
=213.299 - 5.284
=208.015

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=199.926 - 17.624 - 0
=182.302

* 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 0.12 mean?
Farmers and Merchants Bancshares (FMBN) has a Scaled Net Operating Assets of 0.12 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Farmers and Merchants Bancshares and its competitors.
Is Farmers and Merchants Bancshares' Scaled Net Operating Assets too high?
Farmers and Merchants Bancshares' current Scaled Net Operating Assets is 0.12. Overall, Farmers and Merchants Bancshares has a GF Score™ of 51/100, reflecting its overall financial health beyond just this single metric.
How does Farmers and Merchants Bancshares' Scaled Net Operating Assets compare to JDVB and RVSB?
Farmers and Merchants Bancshares' Scaled Net Operating Assets of 0.12 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 and Merchants Bancshares and its competitors. Farmers and Merchants Bancshares's current Scaled Net Operating Assets is 0.12. 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?
Farmers and Merchants Bancshares (FMBN) has a current Scaled Net Operating Assets of 0.12. The stock's GF Value™ is $24.88, compared to a current price of $35.50 — trading 42.7% above its estimated fair value. The current Scaled Net Operating Assets is 0.12. Farmers and Merchants Bancshares' overall GF Score™ is 51/100 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 and Merchants Bancshares (FMBN), the current Scaled Net Operating Assets is 0.12 as of Dec. 2025. 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 $35.50 is trading 42.7% above its estimated GF Value™ of $24.88.

Key valuation signals for FMBN:

  • Scaled Net Operating Assets: 0.12
  • GF Value™: $24.88 vs. price of $35.50 (42.7% above fair value)
  • GF Score™: 51/100 with 5 warning signs

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 Business Description

Address 221 Jefferson Street, Burlington, IA, USA, 52601
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.
51GF 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.

$35.50
Price
$24.88
GF Value