Is Farmers & Merchants Bancorp, Inc. overvalued?

Farmers & Merchants Bancorp, Inc. (FMAO) looks overvalued — trading about 14% above its fair value.

Overvalued

Price

$36.81

Fair value

$31.54

Current P/E

14.1

Normal P/E

12.1

Market cap

$506.5M

Dividend yield

2.6%

Return on equity

11.2%

Sector

Financial Services

Fair value compares FMAO's current P/E to its own historical "normal" P/E (FAST Graphs-style). Updated 12 Nov 2026.

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