FARMERS NATIONAL BANC CORP /OH/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FARMERS NATIONAL BANC CORP /OH/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue							186	255	269	280
Operating expenses							113	196	214	215
Interest expense	4.38	6.88	13.3	19.6	16.1	8.47	17.9	75.5
Pre-tax income	28	33.2	38.3	43.1	50.3	62.1	72.8	58.7	55.4	65
Income tax	7.49	10.5	5.71	7.32	8.4	10.3	12.2	8.77	9.48	10.5
Net income	20.6	22.7	32.6	35.8	41.9	51.8	60.6	49.9	45.9	54.6
EPS, basic	0.76	0.82	1.18	1.29	1.48	1.78	1.79	1.34	1.23	1.46
EPS, diluted	0.76	0.82	1.16	1.28	1.47	1.77	1.79	1.33	1.22	1.45
Shares, basic (weighted)	27.2	27.6	27.7	27.7	28.3	29.2	33.8	37.4	37.3	37.4
Shares, diluted (weighted)	27.2	27.6	28	27.9	28.4	29.3	33.9	37.5	37.5	37.6
Dividend per share								0.65	0.68	0.68

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Property, plant and equipment	23.2	22.3	21.2	23.8	25.6	37.5	30.8	44.4	52.3	56.9
Lease right-of-use assets				3.12	4.83	6.36	8.4	8.8	9.7	7.9
Goodwill	37.2	38.2	38.2	38.2	45.8	94.2	94.6	167	167	167
Intangible assets	7.99	7.17	5.75	4.44	3.84	8.37	7.03	22.8	20.8	17.9
Long-term investments	2.2	2.2	2.3	2.3	9.4
Total assets	1,966	2,159	2,329	2,449	3,071	4,143	4,082	5,078	5,119	5,246
Short-term debt	198	290	245	77.1	2.52	0	95	355	305	281
Long-term debt	2.2
Total liabilities	1,753	1,917	2,067	2,150	2,721	3,670	3,790	4,674	4,713	4,760
Total debt	15	6.99	6.03	45.1	76.4	87.8	88.2	88.7	86.2	86.7
Retained earnings	42.5	59.2	83.6	109	138	174	212	237	257	286
Treasury stock	-4.86	-4.63	-3.44	-5.71	-18.8	-16.9	-14.9	-25.1	-23.9	-23
Other comprehensive income	-2.79	0.6	-4.03	9.83	22	9.3	-210	-173	-193	-144
Shareholders' equity	213	242	262	299	350	472	292	404	406	486
Total equity	213	242	262	299	350	472	292	404	406	486
Total liabilities and equity	1,966	2,159	2,329	2,449	3,071	4,143	4,082	5,078	5,119	5,246
Shares outstanding					28.3	33.9	34.1	37.5	37.6	37.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	20.6	22.7	32.6	35.8	41.9	51.8	60.6	49.9	45.9	54.6
Depreciation and amortization	3.67	3.14	2.99	2.84	3.12	3.54	4.9	7.33	6.4	6.78
Stock-based compensation	0.89	2.36	1.68	1.39	1.44	1.19	1.82	2.61	2.64	2.5
Deferred income tax	-1.16	1	-0.41	-0.31	-1.53	-0.52	1.35	-0.46	2.39
Cash from operations	24.5	30.6	38.8	38.8	49.1	54.9	81.5	62.9	66.6	60
Capital expenditures	-0.79	-0.96	-0.45	-1.46	-3.7	-1.38	-2.56	-3.88	-11.7	-7.86
Acquisitions	-1.07	16.2	0	0	-3.15
Purchases of investments	-3.4	-5	-6	-6.7	-7.2	-10	-16.2	-16.4	-16.6	-149
Sales and maturities of investments	59.9	43.1	37	35.6	61.1	74.4	78.3	58.6	58.9	79.1
Cash from investing	-115	-137	-179	-93.1	-160	-424	-206	77.9	-95.1	-78.8
Debt issued	0	0
Share buybacks	-0.17	0	0	-2.84	-14.2	-0.16	0	-11.5	0	0
Dividends paid	-4.33	-6.01	-8.32	-10.5	-12.7	-14.1	-22	-25.4	-25.4	-25.5
Cash from financing	76.7	122	141	67.2	295	227	86.8	-113	10.6	25.4
Net change in cash	-14.2	15.8	0.31	12.8	184	-142	-37.2	28.1	-17.9	6.62
Free cash flow	23.7	29.6	38.3	37.3	45.4	53.6	78.9	59	54.9	52.2
Interest paid	4.32	6.75	12.9	19.5	16.5	8.48	16.5	78.5	101	89.3
Income taxes paid	9.41	8.8	7.3	6.45	9	12.5	10.1	6.7		3.22

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $15.43 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	24.6%	Pre-tax income / revenue.
Net margin	20.5%	Net income / revenue.
FCF margin	18.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	19.9%	Cash from operations / revenue.
Effective tax rate	16.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.9%	Net income / average total assets.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.2%	Capital expenditures / revenue.
D&A / revenue	2.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	14.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	18.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-3.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	18.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-6.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-0.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-9.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-9.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	4.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-5.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-12.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	2.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	19.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	18.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.8%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	11.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	5.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	0.12x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	1.3%	Total debt / total assets.
Liabilities / assets	89.0%	Total liabilities / total assets.
Goodwill and intangibles / assets	4.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$477.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.05x	Revenue / average total assets.
Fixed asset turnover	4.17x	Revenue / average property, plant and equipment.
FCF conversion	91.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.12	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$5.46	Revenue / diluted weighted shares.
FCF per share	$1.02	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.09	Cash from operations / diluted weighted shares.
Book value per share	$13.24	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.05	Tangible book value / shares outstanding.
Payout ratio	43.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	48.1%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$914.2M	Share price x shares outstanding.
Enterprise value	$1.01B	Market cap + total debt - cash - short-term investments.
P/E	13.8x	Market cap / net income. Only when net income is positive.
P/S	2.82x	Market cap / revenue.
P/B	1.17x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.92x	Market cap / tangible book value, when positive.
P/FCF	15.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.2x	Market cap / cash from operations, when positive.
EV/Sales	3.12x	Enterprise value / revenue.
EV/FCF	16.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.6%	Free cash flow / market cap.
Earnings yield	7.3%	Net income / market cap (the inverse of P/E).
Dividend yield	3.2%	Dividends paid over the period / market cap.
Shareholder yield	3.2%	(Dividends paid + share buybacks) / market cap.

What was FARMERS NATIONAL BANC CORP /OH/'s revenue in fiscal 2025?

FARMERS NATIONAL BANC CORP /OH/ reported revenue of $279.9M for fiscal 2025, 3.9% higher than the year before.

Was FARMERS NATIONAL BANC CORP /OH/ profitable in fiscal 2025?

Yes. Net income was $54.6M, a net margin of 19.5%.

How much free cash flow did FARMERS NATIONAL BANC CORP /OH/ generate in fiscal 2025?

Cash from operations of $60.0M minus capital expenditures of $7.9M left free cash flow of $52.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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