FARMERS & MERCHANTS BANCORP (FMCB)
Farmers & Merchants Bancorp functions as the holding company for Farmers & Merchants Bank of Central California, offering a broad spectrum of banking and financial services to both business and individual customers. Its array of deposit products encompasses checking, savings, and money market accounts, along with time certificates of deposit and individual retirement accounts. The institution's lending capabilities are extensive, covering commercial, residential, and construction real estate financing, agribusiness loans, and various consumer credit options. It also provides equipment leasing and credit card services. For corporate clients, specialized offerings include term loans, lines of credit, working capital financing, and letters of credit. Personal financing solutions extend to automobile loans, home improvement loans, and home equity lines of credit. Furthermore, the company delivers a suite of specialized services, such as credit card programs for merchants, secure lockbox and collection services, account reconciliation, investment sweep capabilities, online account access, and electronic funds transfers via domestic and international wire or automated clearinghouse (ACH). Comprehensive online banking facilities are also available. Investment opportunities, including mutual funds and annuities, are also provided. The company reaches its clientele through a network of 29 full-service branch locations and 3 stand-alone automated teller machines. This geographical footprint spans California's mid-Central Valley, specifically Sacramento, San Joaquin, Solano, Stanislaus, and Merced counties, as well as the eastern part of the San Francisco Bay Area, covering Napa, Alameda, and Contra Costa counties. Founded in 1916, Farmers & Merchants Bancorp maintains its principal office in Lodi, California.
Sector: National Commercial Banks
Industry: Banks - Regional
Farmers & Merchants Bancorp
OTC:FMCBFinancial Services · Banks - Regional
-2.73%$1459.00
Mkt Cap-
Float580K
O/S-
Inst Own-
SI<0.1%
Div Yield1.45%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$303.13M
Net Income$93.61M
Total Assets$5.69B
Free Cash Flow$96.62M
Debt & Equity
Debt 2%
Equity 98%
Total Debt$10.31M
Total Equity$645.51M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in FMCB's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$5.69B
Liabilities$5.04B
Accounts Receivable$30M
Accounts Payable$0
Inventory$0
PP&E (Net)$55.85M
Goodwill$11.18M
Intangible Assets$1.17M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 |
| Revenue | $303.13M | $289.41M | $265.69M | $204.14M | $183.71M | $172.57M | $168.32M | $147.58M | $129.22M | $116.63M | $103.57M | $93.72M | $89.1M | $90.91M | $94.43M | $100.27M | $109.51M | $107.37M | $111.23M | $100.46M | $83.73M | $73.57M | $67.8M | $68.1M |
| YoY Growth | 4.7% | 8.9% | 30.2% | 11.1% | 6.5% | 2.5% | 14.1% | 14.2% | 10.8% | 12.6% | 10.5% | 5.2% | -2.0% | -3.7% | -5.8% | -8.4% | 2.0% | -3.5% | 10.7% | 20.0% | 13.8% | 8.5% | -0.4% | - |
| Cost of Revenue | $63.83M | $65.3M | $47.78M | $11.29M | $6.24M | $13.99M | $13.39M | $13.48M | $9.14M | $10.53M | $4.08M | $3.99M | $3.32M | $6.99M | $14.75M | $24.42M | $31.75M | $32.78M | $33.72M | $24.9M | $14.46M | $11.09M | $11.7M | $18.52M |
| Gross Profit | $239.29M | $224.11M | $217.92M | $192.85M | $177.47M | $158.58M | $154.93M | $134.1M | $120.09M | $106.1M | $99.5M | $89.73M | $85.79M | $83.92M | $79.68M | $75.85M | $77.76M | $74.58M | $77.51M | $75.56M | $69.28M | $62.47M | $56.1M | $49.58M |
| Gross Margin | 78.9% | 77.4% | 82.0% | 94.5% | 96.6% | 91.9% | 92.0% | 90.9% | 92.9% | 91.0% | 96.1% | 95.7% | 96.3% | 92.3% | 84.4% | 75.6% | 71.0% | 69.5% | 69.7% | 75.2% | 82.7% | 84.9% | 82.7% | 72.8% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $79.25M | $77.29M | $75.54M | $67.34M | $66.45M | $58.39M | $57.13M | $52.2M | $47.7M | $44.07M | $42.13M | $37.85M | $34.9M | $32.6M | $31.13M | $30.62M | $31.27M | $28.4M | $27.83M | $28.98M | $26.77M | $24.1M | $21.06M | $17.8M |
| Other | $31.27M | $24.57M | $25.83M | $25.76M | $22.69M | $22.24M | $22.49M | $22.17M | $17.9M | $16.21M | $13.05M | $11.39M | $12.6M | $13.99M | $13.7M | $11.95M | $15.16M | $9.8M | $14.12M | $14.14M | $13.84M | $12.07M | $12.23M | $11.31M |
| Total Operating Expenses | $110.52M | $101.86M | $101.36M | $93.11M | $89.15M | $80.63M | $79.62M | $74.37M | $65.61M | $60.28M | $55.18M | $49.24M | $47.5M | $46.59M | $44.83M | $42.56M | $46.43M | $38.2M | $41.95M | $43.12M | $40.62M | $36.17M | $33.29M | $29.11M |
| Operating Income (EBIT) | $128.78M | $122.24M | $116.55M | $99.74M | $88.32M | $77.95M | $75.31M | $59.73M | $54.48M | $45.82M | $44.32M | $40.5M | $38.28M | $37.33M | $34.85M | $33.29M | $31.33M | $36.39M | $35.56M | $32.44M | $28.66M | $26.3M | $22.82M | $20.47M |
| Operating Margin | 42.5% | 42.2% | 43.9% | 48.9% | 48.1% | 45.2% | 44.7% | 40.5% | 42.2% | 39.3% | 42.8% | 43.2% | 43.0% | 41.1% | 36.9% | 33.2% | 28.6% | 33.9% | 32.0% | 32.3% | 34.2% | 35.7% | 33.7% | 30.1% |
| Interest Expense | $60.33M | $65.3M | $38.37M | $4.84M | $4.33M | $9.49M | $13.19M | $7.95M | $6.29M | $4.2M | $3.33M | $2.81M | $2.89M | $5.14M | $7.97M | $9.69M | $16.33M | $24.78M | $32.23M | $24.62M | $14.03M | $9.82M | $11.07M | $13.6M |
| Interest Income | $279.49M | $271.98M | $253.75M | $198.41M | $165.27M | $159.29M | $154.62M | $133.45M | $114.61M | $99.27M | $90.08M | $81.52M | $76.53M | $78.49M | $82.35M | $84.46M | $91.31M | $93.21M | $95.78M | $88.4M | $72.46M | $59.3M | $54.88M | $54.24M |
| Other Income (Expense) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $128.78M | $122.24M | $116.55M | $99.74M | $88.32M | $77.95M | $75.31M | $59.73M | $54.48M | $45.82M | $44.32M | $40.5M | $38.28M | $37.33M | $34.85M | $33.29M | $31.33M | $36.39M | $35.56M | $32.44M | $28.66M | $26.3M | $22.82M | $20.47M |
| Income Tax Expense | $35.17M | $33.79M | $28.24M | $24.65M | $21.98M | $19.22M | $19.28M | $14.2M | $26.11M | $16.1M | $16.92M | $15.09M | $14.22M | $13.98M | $12.64M | $12.17M | $11.31M | $13.6M | $12.87M | $11.81M | $10.23M | $9.63M | $8.04M | $7.05M |
| Net Income | $93.61M | $88.46M | $88.31M | $75.09M | $66.34M | $58.73M | $56.04M | $45.53M | $28.37M | $29.72M | $27.39M | $25.4M | $24.06M | $23.35M | $22.21M | $21.12M | $20.01M | $22.79M | $22.7M | $20.63M | $18.43M | $16.45M | $14.78M | $13.42M |
| Net Income Margin | 30.9% | 30.6% | 33.2% | 36.8% | 36.1% | 34.0% | 33.3% | 30.8% | 22.0% | 25.5% | 26.4% | 27.1% | 27.0% | 25.7% | 23.5% | 21.1% | 18.3% | 21.2% | 20.4% | 20.5% | 22.0% | 22.4% | 21.8% | 19.7% |
| Supplementary Data | ||||||||||||||||||||||||
| EPS | 134.96 | 121.02 | 116.61 | 96.55 | 84.01 | 74.03 | 71.18 | 56.82 | 35.03 | 37.44 | 34.82 | 32.64 | 30.93 | 29.99 | 28.49 | 27.05 | 25.57 | 28.69 | 28.05 | 25.25 | 22.24 | 19.68 | 17.55 | 15.69 |
| Diluted EPS | 133.96 | 121.02 | 116.61 | 96.55 | 84.01 | 74.03 | 71.18 | 56.82 | 35.03 | 37.44 | 34.82 | 32.64 | 30.93 | 29.99 | 28.49 | 27.05 | 25.57 | 28.69 | 28.05 | 25.25 | 22.24 | 19.68 | 17.55 | 15.69 |
| Weighted Average OS | 693,589 | 730,914 | 757,336 | 777,726 | 789,646 | 793,337 | 787,227 | 801,229 | 809,834 | 793,970 | 786,582 | 778,358 | 777,882 | 778,648 | 779,424 | 780,619 | 782,754 | 794,239 | 809,057 | 816,990 | 828,597 | 835,874 | 841,880 | 855,491 |
| EBITDA | $131.84M | $125.18M | $119.04M | $102.17M | $90.95M | $80.72M | $78.07M | $62.38M | $56.78M | $47.73M | $46M | $41.82M | $39.79M | $39.04M | $36.65M | $35.15M | $33.22M | $38.27M | $37.71M | $34.17M | $30.87M | $28.73M | $26.1M | $22.07M |
| EBITDA Margin | 43.5% | 43.3% | 44.8% | 50.0% | 49.5% | 46.8% | 46.4% | 42.3% | 43.9% | 40.9% | 44.4% | 44.6% | 44.7% | 42.9% | 38.8% | 35.1% | 30.3% | 35.6% | 33.9% | 34.0% | 36.9% | 39.1% | 38.5% | 32.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 |
| Assets | ||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||
| Cash and Cash Equivalents | $144.86M | $212.56M | $410.64M | $588.26M | $715.46M | $383.84M | $294.76M | $145.56M | $187.15M | $98.86M | $59.45M | $77.13M | $83.68M | $129.43M | $101.66M | $60.66M | $32.66M | $46.77M | $50.24M | $47.01M | $50.67M | $32.17M | $35.8M | $45.39M |
| Short-Term Investments | $7.59M | $464.41M | $182.51M | $152.86M | $270.76M | $816.04M | $507.39M | $495.4M | $481.6M | $448.26M | $369.14M | $366.54M | $404.64M | $417.99M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $152.45M | $676.98M | $593.15M | $741.12M | $986.22M | $1.2B | $802.14M | $640.96M | $668.75M | $547.12M | $428.58M | $443.67M | $488.32M | $547.42M | $101.66M | $60.66M | $32.66M | $46.77M | $50.24M | $47.01M | $50.67M | $32.17M | $35.8M | $45.39M |
| Accounts Receivable | $30M | $203.72M | $191.67M | $134.23M | $115.07M | $123.45M | $233.49M | $232.22M | $187.99M | $171.2M | $153.11M | $140.58M | $103.03M | $73.04M | $73.58M | $73.71M | $59.66M | $38.99M | $37.29M | $32.61M | $24.66M | $54.53M | $49.95M | $43.07M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $469.34M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $182.45M | $880.69M | $784.82M | $875.35M | $1.1B | $1.32B | $1.04B | $873.18M | $856.73M | $718.33M | $581.69M | $584.25M | $591.34M | $620.46M | $644.57M | $134.37M | $92.33M | $85.76M | $87.53M | $79.61M | $75.33M | $86.7M | $85.75M | $88.46M |
| Long-Term Assets | ||||||||||||||||||||||||
| Property, Plant & Equipment Net | $55.85M | $51.37M | $51.91M | $49.48M | $47.73M | $50.15M | $45.27M | $32.62M | $28.68M | $29.23M | $26.57M | $25.82M | $22.89M | $22.9M | $24.06M | $24.21M | $24.89M | $21.65M | $20.19M | $20.5M | $17.52M | $14.97M | $11.21M | $11.34M |
| Goodwill | $11.18M | $11.18M | $11.18M | $11.18M | $11.18M | $11.18M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $1.17M | $1.69M | $2.24M | $2.81M | $3.4M | $4.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $5.07B | $4.21B | $4.25B | $4.19B | $3.83B | $3.01B | $2.57B | $2.46B | $2.13B | $2.12B | $1.95B | $1.7B | $1.41B | $1.28B | $542.91M | $1.64B | $1.62B | $1.52B | $1.37B | $1.27B | $1.22B | $275.44M | $261.92M | $233.93M |
| Deferred Tax Assets | $38.77M | $36.73M | $50.07M | $31.51M | $25.54M | $17.09M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $325.96M | $174.45M | $159.35M | $163.72M | $157.08M | $133.76M | $67.15M | $65.12M | $59.58M | $57.76M | $55.9M | $53.99M | $52.11M | $50.25M | $708.14M | $45.58M | $45.73M | $55.97M | $41.33M | $38.44M | $36.8M | -$290.41M | -$273.13M | -$245.28M |
| Total Long-Term Assets | $5.51B | $4.49B | $4.52B | $4.45B | $4.08B | $3.23B | $2.69B | $2.56B | $2.22B | $2.2B | $2.03B | $1.78B | $1.48B | $1.35B | $1.28B | $1.71B | $1.69B | $1.6B | $1.43B | $1.33B | $1.28B | $290.41M | $273.13M | $245.28M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $849.18M | $789.69M | $688.18M |
| Total Assets | $5.69B | $5.37B | $5.31B | $5.33B | $5.18B | $4.55B | $3.72B | $3.43B | $3.08B | $2.92B | $2.62B | $2.36B | $2.08B | $1.97B | $1.92B | $1.84B | $1.78B | $1.68B | $1.52B | $1.41B | $1.35B | $1.23B | $1.15B | $1.02B |
| Liabilities | ||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||
| Accounts Payable | $0 | $0 | $80.77M | $72.51M | $64.12M | $56.21M | $64.2M | $49.89M | $42.25M | $50.12M | $75.67M | $52.99M | $48.17M | $37.32M | $33.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60M | $60M | $60M | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $4.98B | $4.7B | $4.67B | $4.76B | $4.64B | $4.06B | $3.28B | $3.06B | $2.72B | $2.58B | $2.28B | $2.06B | $1.81B | $1.72B | -$33.3M | $1.57B | $1.5B | $1.43B | $1.31B | $1.2B | $1.1B | -$16.44M | -$11.37M | -$10.15M |
| Total Current Liabilities | $4.98B | $4.7B | $4.75B | $4.83B | $4.7B | $4.12B | $3.34B | $3.11B | $2.81B | $2.68B | $2.43B | $2.17B | $1.9B | $1.8B | $10.31M | $1.63B | $1.56B | $1.49B | $1.31B | $1.2B | $1.1B | $0 | $0 | $0 |
| Long-Term Liabilities | ||||||||||||||||||||||||
| Long-Term Debt | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.84M | $10.9M | $30.46M | $11.01M | $39.26M | $57.84M | $109.81M | $91.2M | $122.24M | $40.97M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $56.46M | $87.67M | $0 | $0 | $0 | $0 | $0 | $0 | -$42.25M | -$50.12M | -$75.67M | -$52.99M | -$48.17M | -$37.32M | $0 | $30.85M | $27.7M | $24.18M | $25.7M | $22.52M | $16.19M | $16.44M | $11.37M | $10.15M |
| Total Long-Term Liabilities | $66.77M | $97.98M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | -$31.94M | -$39.81M | -$65.36M | -$42.68M | -$37.86M | -$27.01M | $10.84M | $41.75M | $58.16M | $35.19M | $64.96M | $80.36M | $126M | $91.2M | $122.24M | $40.97M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.71B | $0 | $0 | $0 | $0 | $0 | $0 | $1.02B | $916.72M | $877.38M |
| Total Liabilities | $5.04B | $4.8B | $4.76B | $4.84B | $4.71B | $4.13B | $3.35B | $3.12B | $2.78B | $2.64B | $2.36B | $2.13B | $1.87B | $1.77B | $1.73B | $1.67B | $1.62B | $1.53B | $1.38B | $1.28B | $1.23B | $1.11B | $1.04B | $918.34M |
| Stockholders' Equity | ||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $7K | $7K | $7K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $8K | $7K |
| Retained Earnings | $669.26M | $592.43M | $525.36M | $449.93M | $387.33M | $333.07M | $286.04M | $241.22M | $206.84M | $189.31M | $170.07M | $152.83M | $137.35M | $123.01M | $109.08M | $96.03M | $83.77M | $72.35M | $57.99M | $43.13M | $29.46M | $35.33M | $37.65M | $36.75M |
| Comprehensive Income & Other | -$3.51M | -$19.37M | -$12.46M | -$21.84M | -$1.72M | $13.07M | $3.31M | -$2.99M | -$817K | -$11K | $595K | $2.53M | -$2.47M | $7M | $4.67M | $1.61M | $4.75M | $5.66M | $983K | -$720K | -$1.69M | -$1.03M | -$559K | $1.83M |
| Other Stockholders' Equity | -$23.75M | -$19.37M | $24.39M | $35.37M | $75.8M | $90.59M | $83.25M | $69.99M | $92.81M | $90.66M | $81.76M | $80.34M | $72.55M | $82.01M | $80.26M | $77.2M | $80.95M | $84.19M | $85.42M | $89.21M | $94.18M | $81.21M | $71.95M | $66.81M |
| Total Equity | $645.51M | $573.07M | $549.75M | $485.31M | $463.14M | $423.67M | $369.3M | $311.21M | $299.66M | $279.98M | $251.84M | $233.18M | $209.9M | $205.03M | $189.35M | $173.24M | $164.73M | $156.54M | $143.42M | $132.34M | $123.65M | $116.55M | $109.61M | $103.56M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $5.69B | $5.37B | $5.31B | $5.33B | $5.18B | $4.55B | $3.72B | $3.43B | $3.08B | $2.92B | $2.62B | $2.36B | $2.08B | $1.97B | $1.92B | $1.84B | $1.78B | $1.68B | $1.52B | $1.41B | $1.35B | $1.23B | $1.15B | $1.02B |
| Supplementary Data | ||||||||||||||||||||||||
| Total Debt | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.31M | $10.84M | $70.9M | $90.46M | $71.01M | $39.26M | $57.84M | $109.81M | $91.2M | $122.24M | $40.97M |
| Net Debt | -$134.55M | -$202.25M | -$400.33M | -$577.95M | -$705.15M | -$373.53M | -$284.45M | -$135.25M | -$176.84M | -$88.55M | -$49.14M | -$66.81M | -$73.37M | -$119.12M | -$90.82M | $10.24M | $57.8M | $24.24M | -$10.98M | $10.84M | $59.14M | $59.03M | $86.44M | -$4.42M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 |
| Operating Activities | ||||||||||||||||||||||||
| Net Income | $93.61M | $88.46M | $88.31M | $75.09M | $66.34M | $58.73M | $56.04M | $45.53M | $28.37M | $29.72M | $27.39M | $25.4M | $24.06M | $23.35M | $22.21M | $21.12M | $20.01M | $22.79M | $22.7M | $20.63M | $18.43M | $16.45M | $14.78M | $13.42M |
| Depreciation & Amortization | $3.06M | $2.94M | $2.49M | $2.43M | $2.63M | $2.77M | $2.76M | $2.65M | $2.3M | $1.91M | $1.69M | $1.32M | $1.51M | $1.7M | $1.8M | $1.87M | $1.89M | $1.88M | $2.15M | $1.73M | $2.21M | $2.43M | $3.28M | $1.59M |
| Deferred Income Tax | -$10.03M | $8.13M | -$5.6M | $4.33M | -$880K | -$1.96M | -$3.25M | $5.46M | $12.61M | -$2.3M | -$907K | $6.44M | -$8.5M | -$2.55M | -$1.26M | -$1.88M | -$7.41M | -$995K | -$2.32M | -$1.17M | -$1.87M | -$1.84M | -$727K | -$836K |
| Stock-Based Compensation | $11.55M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | -$3.33M | $18.95M | -$2.1M | -$275K | $1.06M | $4.68M | -$15.07M | -$3.72M | -$434K | $0 | $0 | $0 | -$5.88M | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $4.95M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | -$4.14M | $4.98M | $6K | -$5.4M | $4.07M | $3.13M | $5.6M | $10.85M | $4.02M | $2.46M | $3.14M | $3.53M | -$1.52M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $6.98M | $8.77M | -$2.98M | $4.65M | -$6.75M | -$4.95M | $2.71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$2.75M | -$5.53M | -$14.4M | $0 | -$2.16M | -$2.8M | -$3.09M | $3.99M | -$2.82M | -$10.96M |
| Total Working Capital Change | $6.98M | $8.77M | -$2.98M | $4.65M | -$6.75M | -$7.47M | $26.64M | -$2.09M | -$5.67M | $5.12M | $7.81M | -$9.47M | $7.13M | $3.58M | -$295K | -$2.38M | -$10.88M | -$7.4M | -$2.16M | -$2.8M | -$3.09M | $3.99M | -$2.82M | -$10.96M |
| Other Non-Cash Items | -$976K | -$4.56M | $11.12M | $15.28M | -$1.37M | $6.05M | -$1.32M | $6.23M | $2.34M | $355K | $1.35M | $2.72M | $3M | $5.64M | $7.91M | $12.11M | $9.17M | $6.78M | $3.19M | $2.44M | $1.38M | -$558K | -$310K | $4.65M |
| Net Cash from Operating | $104.19M | $103.73M | $93.35M | $101.78M | $59.96M | $58.12M | $80.86M | $57.77M | $39.94M | $34.81M | $37.33M | $26.41M | $27.2M | $31.72M | $30.36M | $30.83M | $12.78M | $23.05M | $23.55M | $20.82M | $17.05M | $20.48M | $14.19M | $7.87M |
| Investing Activities | ||||||||||||||||||||||||
| Capital Expenditures | -$7.58M | -$2.4M | -$4.97M | -$4.19M | -$2.07M | -$7.71M | -$15.54M | -$4.58M | -$4.25M | -$1.5M | -$2.73M | -$4.27M | -$1.61M | -$547K | -$1.66M | -$1.2M | -$5.13M | -$3.35M | -$1.61M | -$4.86M | -$4.16M | -$5.38M | -$1.42M | -$1.5M |
| Acquisitions | $0 | $0 | $0 | $73K | $0 | $81K | $0 | -$5.99M | $0 | $31.75M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$585.09M | -$409.62M | -$105.54M | -$190.72M | -$663.46M | -$698.63M | -$673.06M | -$480.98M | -$341.16M | -$506.89M | -$223.85M | -$151.09M | -$223.82M | -$154.03M | -$298.43M | -$382.91M | -$273.63M | -$244.56M | -$46M | -$80.26M | -$100.68M | -$195.11M | -$239.65M | -$114.02M |
| Sales of Investments | $162.84M | $158.5M | $108.62M | $154M | $504.89M | $396.56M | $655.12M | $561.37M | $294.65M | $431.64M | $245.19M | $199.95M | $217.41M | $210.79M | $253.33M | $315.49M | $206.87M | $137.74M | $43.25M | $104M | $103.76M | $180.25M | $208.97M | $155.24M |
| Other Investing Activities | $27.81M | -$21.06M | -$144.66M | -$274.45M | -$135.52M | -$427.05M | -$102.15M | -$274.92M | -$31.43M | -$140.45M | -$276.92M | -$324.02M | -$140.86M | -$85.47M | $6.92M | $24.45M | -$40.98M | -$42.82M | -$95.17M | -$73.69M | -$106.64M | -$60.55M | -$112.92M | -$95.46M |
| Net Cash from Investing | -$402.01M | -$274.58M | -$146.55M | -$315.3M | -$296.15M | -$736.75M | -$135.63M | -$205.09M | -$82.19M | -$185.44M | -$258.31M | -$279.43M | -$148.89M | -$29.26M | -$39.84M | -$44.16M | -$112.87M | -$152.99M | -$99.53M | -$54.8M | -$107.72M | -$80.79M | -$145.02M | -$55.73M |
| Financing Activities | ||||||||||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | $530K | $61K | $19.56M | -$19.45M | $28.25M | $18.58M | $51.31M | -$17.96M | $31.04M | -$81.27M | $35K |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$34.73M | -$45.26M | -$20.36M | -$20.31M | $0 | -$2.83M | $0 | -$31.15M | $0 | $0 | $0 | $0 | $0 | -$576K | $0 | -$608K | -$2.33M | -$5.91M | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$13.84M | -$13.02M | -$12.89M | -$12.49M | -$12.07M | -$11.7M | -$11.22M | -$11.15M | -$10.98M | -$10.48M | -$10.16M | -$9.92M | -$9.72M | -$9.42M | -$9.16M | -$8.86M | -$8.6M | -$8.43M | -$7.83M | -$6.97M | -$6.66M | -$5.93M | -$4.88M | -$4.54M |
| Other Financing Activities | $278.69M | $31.04M | -$91.17M | $119.12M | $579.88M | $782.25M | $215.19M | $148.03M | $141.52M | $200.52M | $213.46M | $256.38M | $85.67M | $35.83M | $59.69M | $68.38M | $65.42M | $121.91M | $112.26M | $95.19M | $101.23M | $97.76M | $54.12M | $47.51M |
| Net Cash from Financing | $230.12M | -$27.23M | -$124.42M | $86.32M | $567.81M | $767.71M | $203.97M | $105.73M | $130.53M | $190.05M | $203.3M | $246.46M | $75.94M | $25.3M | $50.48M | $39.36M | $73.94M | $139.32M | $80.36M | $30.32M | $109.17M | $56.69M | $113.05M | $37.93M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$67.7M | -$198.08M | -$177.62M | -$127.2M | $331.62M | $89.08M | $149.19M | -$41.59M | $88.29M | $39.41M | -$17.68M | -$6.55M | -$45.75M | $27.77M | $41M | $26.03M | -$26.14M | $9.38M | $4.38M | -$3.66M | $18.5M | -$3.63M | -$17.77M | -$9.93M |
| Supplementary Data | ||||||||||||||||||||||||
| Operating Cash Flow | $104.19M | $103.73M | $93.35M | $101.78M | $59.96M | $58.12M | $80.86M | $57.77M | $39.94M | $34.81M | $37.33M | $26.41M | $27.2M | $31.72M | $30.36M | $30.83M | $12.78M | $23.05M | $23.55M | $20.82M | $17.05M | $20.48M | $14.19M | $7.87M |
| Capital Expenditure | -$7.58M | -$2.4M | -$4.97M | -$4.19M | -$2.07M | -$7.71M | -$15.54M | -$4.58M | -$4.25M | -$1.5M | -$2.73M | -$4.27M | -$1.61M | -$547K | -$1.66M | -$1.2M | -$5.13M | -$3.35M | -$1.61M | -$4.86M | -$4.16M | -$5.38M | -$1.42M | -$1.5M |
| Free Cash Flow | $96.62M | $101.34M | $88.38M | $97.59M | $57.89M | $50.41M | $65.32M | $53.2M | $35.69M | $33.31M | $34.6M | $22.14M | $25.59M | $31.18M | $28.7M | $29.64M | $7.65M | $19.7M | $21.94M | $15.96M | $12.89M | $15.1M | $12.77M | $6.38M |
| Cash at Beginning | $212.56M | $410.64M | $588.26M | $715.46M | $383.84M | $294.76M | $145.56M | $187.15M | $98.86M | $59.45M | $77.13M | $83.68M | $129.43M | $101.66M | $60.66M | $34.63M | $60.77M | $51.39M | $47.01M | $50.67M | $32.17M | $35.8M | $53.57M | $63.51M |
| Cash at End | $144.86M | $212.56M | $410.64M | $588.26M | $715.46M | $383.84M | $294.76M | $145.56M | $187.15M | $98.86M | $59.45M | $77.13M | $83.68M | $129.43M | $101.66M | $60.66M | $34.63M | $60.77M | $51.39M | $47.01M | $50.67M | $32.17M | $35.8M | $53.57M |