Farmers National Banc Corp. Financial Ratios — FMNB Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	9.1	8.44	6.66	7.58	5.01	10	9.98	12.91	12.73	12.9	12.61	15.85	14.33	11.34	12.24
Return on Assets (%)	0.9	0.9	0.68	0.79	0.54	1.07	1.1	1.45	1.5	1.52	1.44	1.47	1.09	0.9	1.05
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.35	3.51	3.9	3.84	4.04	4.01	3.21	2.88	2.57	2.36	2.42	3.06	4.08	3.76	3.59
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	23.93	26.25	19	22.46	15.51	30.69	33.94	36.81	39.01	37.98	42.49	45.52	32.67	32.59	34.49
Profit Margin (%)	18.76	20.07	15.62	17.36	11.84	22.5	23.25	31.32	32.39	31.64	35.47	37.87	27.79	27.02	28.95
Net Income to Common Margin (%)	18.76	20.07	15.62	17.36	11.84	22.5	23.25	31.32	32.39	31.64	35.47	37.87	27.79	27.02	28.95
Effective Tax Rate (%)	21.6	23.52	17.79	22.7	23.68	26.69	31.51	14.93	16.98	16.7	16.53	16.8	14.93	17.1	16.08
Dvd Payout Ratio (%)	24.31	34.05	28.89	24.94	33.31	21.04	26.47	25.53	29.47	30.22	27.14	36.31	50.86	55.25	46.65
Sustainable Growth Rate (%)	6.89	5.57	4.73	5.69	3.34	7.89	7.34	9.62	8.98	9	9.18	10.09	7.04	5.07	6.53

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	109	90	101	88	248	213	297	251	122	79	88	183	444	391	368
ST Debt	98	80	82	69	226	198	290	245	77	3	- -	95	355	305	281
LT Debt	11	10	20	18	22	15	7	6	45	76	88	88	89	86	87
Total Debt/EBITDA	66.39	51.96	52.15	44.18	90.14	58.22	94.48	83.85	43.04	25.27	24.8	37.4	60.55	61.11	54.26
Net Debt/EBITDA	57.8	43.79	45.49	38.42	81.96	52.85	88.81	77.82	34.86	18.71	16.56	33.03	56.61	57.92	51.24
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	10.72	10.6	9.94	10.87	10.59	10.84	11.21	11.26	12.22	11.4	11.4	7.16	7.96	7.93	9.26
Long-Term Debt/Equity (%)	9.84	8.63	17.54	14.88	11.19	7.05	2.89	2.3	15.08	21.82	18.58	30.18	21.92	21.22	17.86
Long-Term Debt/Capital (%)	5.03	4.94	9.24	8.71	4.97	3.52	1.3	1.18	10.71	17.81	15.67	18.55	10.45	10.81	10.16
Long-Term Debt/Total Assets (%)	1.05	0.91	1.74	1.62	1.18	0.76	0.32	0.26	1.84	2.49	2.12	2.16	1.75	1.68	1.65
Total Debt/Equity (%)	95.55	74.76	89.76	70.83	125.22	100.13	122.51	95.61	40.83	22.54	18.58	62.68	109.7	96.34	75.71
Total Debt/Capital (%)	48.86	42.78	47.3	41.46	55.6	50.03	55.06	48.88	28.99	18.39	15.67	38.53	52.31	49.07	43.09
Total Debt/Total Assets (%)	10.24	7.92	8.92	7.7	13.26	10.86	13.74	10.77	4.99	2.57	2.12	4.49	8.74	7.64	7.01
Net Debt to Equity	83.18	63	78.3	61.6	113.85	90.9	115.16	88.73	33.07	16.68	12.41	55.36	102.56	91.31	71.49
Net Debt/Capital (%)	45.41	38.65	43.91	38.12	53.24	47.62	53.52	47.01	24.85	14.3	11.04	35.63	50.63	47.73	41.69
EBITDA	2	2	2	2	3	4	3	3	3	3	4	5	7	6	7
EBITDA-CapEx	-2	-1	2	1	1	3	2	3	1	-1	2	2	3	-5	-1
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	10.72	10.6	9.94	10.87	10.59	10.84	11.21	11.26	12.22	11.4	11.4	7.16	7.96	7.93	9.26
Long-Term Debt/Equity (%)	9.84	8.63	17.54	14.88	11.19	7.05	2.89	2.3	15.08	21.82	18.58	30.18	21.92	21.22	17.86
Long-Term Debt/Capital (%)	5.03	4.94	9.24	8.71	4.97	3.52	1.3	1.18	10.71	17.81	15.67	18.55	10.45	10.81	10.16
Long-Term Debt/Total Assets (%)	1.05	0.91	1.74	1.62	1.18	0.76	0.32	0.26	1.84	2.49	2.12	2.16	1.75	1.68	1.65
Total Debt/Equity (%)	95.55	74.76	89.76	70.83	125.22	100.13	122.51	95.61	40.83	22.54	18.58	62.68	109.7	96.34	75.71
Total Debt/Capital (%)	48.86	42.78	47.3	41.46	55.6	50.03	55.06	48.88	28.99	18.39	15.67	38.53	52.31	49.07	43.09
Total Debt/Total Assets (%)	10.24	7.92	8.92	7.7	13.26	10.86	13.74	10.77	4.99	2.57	2.12	4.49	8.74	7.64	7.01
CFO/Total Liabilities	1.47	1.08	1.39	1.21	0.38	1.4	1.59	1.88	1.8	1.8	1.5	2.15	1.35	1.41	1.26
CFO/CapEx	3.9	3.43	66.29	12.6	4.87	31.09	31.97	86.14	26.59	13.28	39.95	31.85	16.22	5.7	7.64
Altman's Z-Score	0.11	0.12	0.13	0.16	0.14	0.21	0.21	0.2	0.24	0.19	0.2	0.19	0.17	0.18	0.18

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover

- -

Days Sales Outstanding

- -

Inventory Turnover

- -

Days Inventory Outstanding

- -

Accounts Payable Turnover

- -

Accounts Payable Turnover Days

- -

Cash Conversion Cycle

- -

Inventory to Cash Days

- -

Inventories

- -

Raw Materials

- -

Work In Process

- -

Finished Goods

- -

Other Inventory

- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	93	117	123	154	232	384	406	354	452	374	629	481	542	534	502
- Cash & Cash Equivalents	14	14	13	11	22	20	18	18	23	21	29	21	29	20	20
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	109	90	101	88	248	213	297	251	122	79	88	183	444	391	368
Enterprise Value	-212	-271	-212	-160	63	208	292	185	118	-143	-740	-625	-343	-361	116
Total Capital	224	211	214	211	446	427	539	513	422	429	560	476	848	797	853
Total Debt/Capital (%)	48.86	42.78	47.3	41.46	55.6	50.03	55.06	48.88	28.99	18.39	15.67	38.53	52.31	49.07	43.09
Total Debt / EV	-0.52	-0.33	-0.48	-0.55	3.94	1.03	1.02	1.36	1.03	-0.55	-0.12	-0.29	-1.29	-1.08	3.18
EV/Sales	- -	- -	- -	- -	0.92	2.28	2.99	1.78	1.07	- -	- -	- -	- -	1.59	0.61
EV/EBITDA	- -	- -	- -	- -	22.86	56.69	93.06	61.73	41.68	- -	- -	- -	- -	42.25	17.07
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	9.95	8.49	9.56	4.76	3.05	- -	- -	- -	- -	4.06	1.93
EV/Free Cash Flow to Firm	- -	- -	- -	- -	8.25	8.22	9.27	4.71	2.94	- -	- -	- -	- -	3.45	1.7
Diluted Market Cap	90	117	123	156	195	383	407	358	455	377	543	479	542	533	501
Diluted Enterprise Value	186	193	211	232	421	577	685	590	554	435	602	641	957	904	849
EV per Share	- -	- -	- -	- -	2.33	7.69	10.61	6.64	4.28	- -	- -	- -	- -	7.24	3.07
TTM Sales	49	49	50	52	68	91	98	104	110	132	146	160	180	170	189
TTM EBITDA	2	2	2	2	3	4	3	3	3	3	4	5	7	6	7
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	14	11	14	12	6	24	31	39	39	49	55	82	63	67	60
TTM Free Cash Flow to Firm	18	14	14	13	8	25	32	39	40	53	56	84	67	78	68

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	5.15	8.22	8.5	11.79	25.59	15.16	12.9	9.12	11.31	7.14	9.65	5.7	8.11	6.81	7.38
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-212	-271	-212	-160	63	208	292	185	118	-143	-740	-625	-343	-361	116
Low Price	3.25	4.8	5.81	6.53	7.09	8	12.13	11.56	11.57	9.82	13.03	12.41	10.38	11.55	11.58
EV/Sales	- -	- -	- -	- -	0.92	2.28	2.99	1.78	1.07	- -	- -	- -	- -	1.59	0.61
EV/EBITDA	- -	- -	- -	- -	22.86	56.69	93.06	61.73	41.68	- -	- -	- -	- -	42.25	17.07
Price/Earnings	9.81	11.73	15.81	17.39	24.21	18.65	17.9	10.83	12.65	8.97	10.42	7.89	10.78	11.56	9.12
Price/Earnings Average	8.91	11.47	15.32	15.95	22.93	12.97	17.18	12.62	11.15	8.47	9.09	8.63	9.49	11.23	9.38
Price/Earnings High	10.41	13.06	16.65	18.14	24.63	20.36	19.36	14.36	12.79	11.15	10.67	11.17	11.25	13.27	10.62
Price/Earnings Low	6.44	9.08	14.02	13.6	19.96	10.51	14.72	9.82	8.97	6.64	7.32	6.93	7.75	9.39	7.93
Price/Book Value	0.81	0.96	1.09	1.24	1.17	1.8	1.68	1.35	1.51	1.07	1.33	1.65	1.34	1.32	1.03
Price/Book Value Average	0.74	0.94	1.05	1.14	1.11	1.25	1.61	1.57	1.33	1.01	1.16	1.8	1.18	1.28	1.06
Price/Book Value High	0.86	1.07	1.15	1.3	1.19	1.97	1.81	1.79	1.53	1.33	1.36	2.33	1.4	1.51	1.2
Price/Book Value Low	0.53	0.75	0.97	0.97	0.96	1.01	1.38	1.22	1.07	0.79	0.93	1.45	0.96	1.07	0.9
Price/Tangible Book Value	0.86	1.02	1.2	1.34	1.49	2.29	2.07	1.62	1.76	1.24	1.7	2.52	2.53	2.45	1.67
Price/Tangible Book Value Average	0.78	0.99	1.16	1.23	1.41	1.59	1.98	1.89	1.55	1.18	1.48	2.76	2.23	2.38	1.72
Price/Tangible Book Value High	0.91	1.13	1.26	1.4	1.52	2.49	2.23	2.15	1.78	1.55	1.74	3.57	2.64	2.82	1.94
Price/Tangible Book Value Low	0.56	0.79	1.06	1.05	1.23	1.29	1.7	1.47	1.25	0.92	1.19	2.22	1.82	1.99	1.45
Price/Sales	1.84	2.35	2.47	3.02	2.87	4.2	4.16	3.39	4.1	2.84	3.7	2.99	3	3.12	2.64
Price/Sales Average	1.67	2.3	2.39	2.77	2.71	2.92	3.99	3.95	3.61	2.68	3.22	3.27	2.64	3.03	2.72
Price/Sales High	1.95	2.62	2.6	3.15	2.92	4.58	4.5	4.5	4.14	3.53	3.78	4.23	3.13	3.58	3.07
Price/Sales Low	1.21	1.82	2.19	2.36	2.36	2.36	3.42	3.08	2.9	2.1	2.6	2.63	2.15	2.54	2.3
Price/Cash Flow	6.46	10.62	8.63	12.73	30.84	15.65	13.3	9.1	11.67	7.65	9.84	5.87	8.56	7.97	8.29
Price/Cash Flow Average	5.87	10.38	8.36	11.67	29.21	10.88	12.76	10.6	10.29	7.23	8.58	6.42	7.53	7.74	8.53
Price/Cash Flow High	6.85	11.82	9.09	13.28	31.38	17.09	14.39	12.07	11.8	9.51	10.07	8.31	8.93	9.15	9.65
Price/Cash Flow Low	4.24	8.22	7.65	9.95	25.43	8.82	10.94	8.25	8.27	5.66	6.91	5.15	6.15	6.48	7.21
Price/Free Cash Flow Average	4.67	8.04	8.24	10.81	24.24	10.55	12.37	10.63	9.97	6.74	8.41	6.23	7.14	6.61	7.59
Price/Free Cash Flow High	5.46	9.15	8.95	12.3	26.03	16.55	13.95	12.1	11.44	8.88	9.87	8.07	8.46	7.82	8.59
Price/Free Cash Flow Low	3.38	6.37	7.54	9.22	21.1	8.54	10.61	8.28	8.02	5.28	6.78	5.01	5.83	5.53	6.42
EV/Sales Average	3.65	3.84	4.17	4.2	6.54	5.04	6.84	6.21	4.5	3.11	4.15	4.3	4.96	5.23	4.58
EV/Sales High	3.94	4.16	4.38	4.58	6.78	6.71	7.35	6.75	5.03	3.96	4.8	5.27	5.46	5.79	4.94
EV/Sales Low	3.18	3.36	3.97	3.8	6.12	4.49	6.27	5.33	3.8	2.53	3.42	3.65	4.48	4.73	4.15
EV/EBITDA Average	108.99	109.34	106.78	109.56	161.74	125.69	212.97	215.76	175.04	131.84	171.48	140.41	121.69	139	127.35
EV/EBITDA High	117.59	118.4	112.1	119.36	167.67	167.18	228.77	234.85	195.68	167.69	198.46	172.06	133.79	153.74	137.36
EV/EBITDA Low	94.81	95.69	101.58	99.1	151.41	111.86	195.25	185.23	147.63	107.38	141.37	119.3	109.74	125.74	115.58
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	4.95	6.2	6.55	8.35	8.6	14.2	14.75	12.74	16.32	13.27	18.55	14.12	14.45	14.22	13.32
High Price	5.25	6.9	6.9	8.71	8.75	15.5	15.95	16.9	16.5	16.5	18.99	20	15.08	16.32	15.5
Enterprise Value Average	180	190	208	217	445	461	669	645	497	412	607	688	892	890	863
Enterprise Value High	194	206	218	236	461	613	718	702	556	524	702	843	980	984	931
Enterprise Value Low	156	166	198	196	417	410	613	554	419	335	500	584	804	805	783

Shares Outstanding	19	19	19	18	27	27	28	28	28	28	34	34	38	38	38
Diluted Weighted Avg Shares	18	19	19	19	23	27	28	28	28	28	29	34	37	38	38
Basic Weighted Avg Shares	18	19	19	19	23	27	28	28	28	28	29	34	37	37	37
Revenue per Share	2.69	2.63	2.65	2.77	3	3.38	3.54	3.76	3.98	4.68	5.02	4.73	4.82	4.55	5.04
EBITDA per Share	0.09	0.09	0.1	0.11	0.12	0.14	0.11	0.11	0.1	0.11	0.12	0.14	0.2	0.17	0.18
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.5	0.53	0.41	0.48	0.36	0.76	0.82	1.18	1.29	1.48	1.78	1.79	1.34	1.23	1.46
Basic EPS from Cont Ops	0.5	0.53	0.41	0.48	0.36	0.76	0.82	1.18	1.29	1.48	1.78	1.79	1.34	1.23	1.46
Diluted EPS, GAAP	0.5	0.53	0.41	0.48	0.36	0.76	0.82	1.16	1.28	1.47	1.77	1.79	1.33	1.22	1.45
Diluted EPS from Cont Ops	0.5	0.53	0.41	0.48	0.36	0.76	0.82	1.16	1.28	1.47	1.77	1.79	1.33	1.22	1.45
Dividend per Share	0.12	0.18	0.12	0.12	0.12	0.16	0.22	0.3	0.38	0.45	0.48	0.65	0.68	0.68	0.68
Cash Flow per Share	0.77	0.58	0.76	0.66	0.28	0.91	1.11	1.4	1.4	1.73	1.89	2.41	1.69	1.78	1.61
Free Cash Flow per Basic Share	0.57	0.41	0.75	0.6	0.22	0.88	1.07	1.38	1.35	1.6	1.84	2.33	1.58	1.47	1.4
Cash & Equivalents per Share	22.08	25.45	23.22	21.8	15.47	14.41	14.91	15.12	16.46	21.15	42.98	37.86	35.43	34.24	20.01
Book Value per Share	6.1	6.43	6.02	6.71	7.35	7.88	8.79	9.44	10.82	12.42	13.94	8.58	10.78	10.8	12.9
Tangible Book Value per Share	5.76	6.11	5.47	6.23	5.76	6.21	7.14	7.86	9.28	10.66	10.91	5.6	5.71	5.8	7.98

Farmers National Banc Corp.