FMNB

MKT CAP:$550M

Farmers National Banc Corp.

Market Cap

$550M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$13.94+$0.67 (+5.05%)

Apr 23, 2026

Company Details

Farmers National Banc Corp., a financial holding company, operates in the banking, trust, retirement consulting, insurance, and financial management industries. It offers commercial and retail banking services, including checking, savings, ...

CEO

Kevin J. Helmick

IPO Date

Jan 4, 1999

Website

www.farmersbankgroup.com

Key Metrics TTM

Revenue

$277M

+1.3% YoY

Net Income

$57M

EPS (Diluted)

$1.45

Free Cash Flow

$45M

Revenue / Share

$6.18

Gross Margin

48.6%

Operating Margin

24.8%

Net Margin

20.6%

FCF Margin

16.1%

P/S

2.0x

P/E

9.6x

Earnings Reports

Q1 2026

Apr 22, 2026

NEW

$67M-1.0%EPS $0.36

FY 2025

Mar 5, 2026

$272M+0.9%EPS $1.45

Q4 2025

Mar 5, 2026

$70M+0.5%EPS $0.39

Q3 2025

Nov 6, 2025

$71M+0.8%EPS $0.33

Q2 2025

Aug 7, 2025

$70M+5.1%EPS $0.37

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$44M	$41M	$19M
Q3 22	$45M	$40M	$19M
Q4 22	$46M	$37M	$16M
Q1 23	$62M	$38M	$8M
Q2 23	$62M	$44M	$18M
Q3 23	$64M	$43M	$16M
Q4 23	$67M	$45M	$18M
Q1 24	$63M	$40M	$13M
Q2 24	$66M	$41M	$14M
Q3 24	$70M	$37M	$10M
Q4 24	$69M	$44M	$18M
Q1 25	$68M	$45M	$16M
Q2 25	$70M	$43M	$16M
Q3 25	$71M	$46M	$15M
Q4 25	$70M	$45M	$18M
Q1 26	$67M	$0	$20M

Valuation

Quarter	P/S	P/E
Q2 22	3.1x	9.5x
Q3 22	2.6x	8.6x
Q4 22	3.1x	9.0x
Q1 23	2.4x	9.0x
Q2 23	2.2x	9.2x
Q3 23	1.9x	9.0x
Q4 23	2.0x	10.4x
Q1 24	1.9x	9.1x
Q2 24	1.8x	9.0x
Q3 24	2.1x	12.2x
Q4 24	1.9x	11.4x
Q1 25	1.8x	10.0x
Q2 25	1.9x	10.3x
Q3 25	1.9x	9.9x
Q4 25	1.8x	9.3x
Q1 26	1.8x	8.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$13M	$13M
Q2 22	$27M	$26M
Q3 22	$19M	$19M
Q4 22	$22M	$21M
Q1 23	$14M	$14M
Q2 23	$17M	$16M
Q3 23	$18M	$17M
Q4 23	$14M	$12M
Q1 24	$14M	$12M
Q2 24	$16M	$14M
Q3 24	$24M	$20M
Q4 24	$13M	$9M
Q1 25	$16M	$12M
Q2 25	$14M	$12M
Q3 25	$11M	$9M
Q4 25	$20M	$11M

Capital Expenditures

Quarter	CapEx
Q1 22	$346.0K
Q2 22	$2M
Q3 22	$61.0K
Q4 22	$748.0K
Q1 23	$171.0K
Q2 23	$608.0K
Q3 23	$1M
Q4 23	$2M
Q1 24	$2M
Q2 24	$2M
Q3 24	$3M
Q4 24	$4M
Q1 25	$3M
Q2 25	$2M
Q3 25	$2M
Q4 25	$9M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+14.8%	+28.1%
Q3 22	+21.0%	+46.9%
Q4 22	+12.5%	-13.6%
Q1 23	+44.8%	+127.3%
Q2 23	+42.3%	+81.1%
Q3 23	+41.6%	+82.9%
Q4 23	+45.2%	+64.0%
Q1 24	+2.8%	-7.4%
Q2 24	+6.7%	+17.2%
Q3 24	+9.7%	+24.2%
Q4 24	+3.1%	+4.3%
Q1 25	+6.9%	+3.0%
Q2 25	+5.1%	+2.3%
Q3 25	+0.8%	-6.6%
Q4 25	+0.5%	+0.6%
Q1 26	-1.0%	-8.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$365.0K	0.9%
Q2 22	$438.0K	1.0%
Q3 22	$513.0K	1.1%
Q4 22	$501.0K	1.1%
Q1 23	$615.0K	1.0%
Q2 23	$649.0K	1.0%
Q3 23	$744.0K	1.2%
Q4 23	$604.0K	0.9%
Q1 24	$662.0K	1.0%
Q2 24	$626.0K	0.9%
Q3 24	$668.0K	1.0%
Q4 24	$687.0K	1.0%
Q1 25	$642.0K	0.9%
Q2 25	$645.0K	0.9%
Q3 25	$645.0K	0.9%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$11M	$487.0K
Q3 22	$11M	$596.0K
Q4 22	$11M	$472.0K
Q1 23	$16M	$409.0K
Q2 23	$14M	$478.0K
Q3 23	$14M	$492.0K
Q4 23	$15M	$414.0K
Q1 24	$16M	$431.0K
Q2 24	$15M	$445.0K
Q3 24	$15M	$435.0K
Q4 24	$14M	$191.0K
Q1 25	$1M	$456.0K
Q2 25	$15M	$454.0K
Q3 25	$16M	$466.0K
Q4 25	$1M	$449.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$21M	$1.4B	$1.4B
Q3 22	$21M	$1.3B	$1.3B
Q4 22	$21M	$1.3B	$1.3B
Q1 23	$31M	$1.4B	$1.4B
Q2 23	$30M	$1.3B	$1.3B
Q3 23	$25M	$1.2B	$1.2B
Q4 23	$29M	$1.3B	$1.3B
Q1 24	$23M	$1.3B	$1.3B
Q2 24	$24M	$1.2B	$1.3B
Q3 24	$21M	$1.3B	$1.3B
Q4 24	$20M	$631M	$652M
Q1 25	$18M	$668M	$686M
Q2 25	$20M	$666M	$686M
Q3 25	$24M	$767M	$791M
Q4 25	$20M	$1.3B	$1.4B
Q1 26	$0	$0	$0

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	34M	-0.0%	+19.6%
Q3 22	34M	+0.0%	+19.6%
Q4 22	34M	+0.4%	+6.2%
Q1 23	38M	+11.4%	+11.8%
Q2 23	37M	-1.6%	+10.0%
Q3 23	37M	+0.2%	+10.2%
Q4 23	38M	+0.3%	+10.1%
Q1 24	37M	-0.1%	-1.2%
Q2 24	37M	+0.0%	+0.4%
Q3 24	38M	+0.2%	+0.5%
Q4 24	38M	+0.1%	+0.2%
Q1 25	38M	+0.3%	+0.6%
Q2 25	38M	-0.3%	+0.4%
Q3 25	38M	+0.1%	+0.3%
Q4 25	38M	+0.1%	+0.3%
Q1 26	45M	+19.0%	+19.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$79.6K	550
Q3 22	$82.2K	550
Q4 22	$84.8K	546
Q1 23	$112.9K	546
Q2 23	$114.0K	546
Q3 23	$117.3K	546
Q4 23	$100.9K	666
Q1 24	$95.2K	666
Q2 24	$99.8K	666
Q3 24	$105.5K	666
Q4 24	$101.6K	682
Q1 25	$99.4K	682
Q2 25	$102.4K	682
Q3 25	$103.8K	682
Q4 25	$98.7K	706
Q1 26	$95.1K	706

Revenue / Employee