FMNBFARMERS NATIONAL BANC CORP /OH/
State Commercial Banks
- Revenue
- $280M
- 3.9% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $926M
- Employees
- 706
- $396K revenue each
- Net debt / EBITDA
- —
- $68M net debt
- AI in 10-K
- 0.1
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo110% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo42% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo84% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$396K · 77th pctBottom quartile of its SIC industry
- Quiet on AIYes0.1 per 10K words · 9th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$926M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$1M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | $186M | $255M | $269M | $280M | 3.9% |
| Net income | $52M | $61M | $50M | $46M | $55M | 19% |
| Operating cash flow | $55M | $82M | $63M | $67M | $60M | 9.9% |
| Capex | $1M | $3M | $4M | $12M | $8M | 33% |
| Stock-based comp | $1M | $2M | $3M | $3M | $2M | 5.6% |
| Buybacks | $164K | $0 | $12M | $0 | $0 | |
| Dividends | $14M | $22M | $25M | $25M | $25M | 0.3% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $2M · 8
- Open-market sells, 12 mo
- $411K · 2
- Net
- $1M
Pay vs performance
No pay-versus-performance disclosure yet.