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Farmers & Merchants Bancorp cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$14.6M in Q3 2026 · $45.4M over twelve months

Operating cash flow$14.9M
Capital spending−$285K
Free cash flow+$14.6M
Cash / net income1.3×

Analysis

In Q3 2026, Farmers & Merchants Bancorp generated $14.9M of operating cash flow and spent $285K on capital projects, leaving free cash flow of $14.6M. That is $3.9M more than in Q3 2025 ($10.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $46.7M; the largest uses were other investing ($125M), dividends ($12.5M), buybacks ($1.7M); besides operations, cash came from other financing ($183M); the cash balance rose by $88.8M.

Operating cash flow was $14.9M against net income of $11.5M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: other operating capital +$1.6M, stock-based pay +$300K.

Free cash flow

Farmers & Merchants Bancorp: free cash flow by quarterFarmers & Merchants Bancorp: free cash flow by quarter$1.9MQ4 2024$10.6MQ1 2025$385KQ2 2025$10.7MQ3 2025$13.2MQ4 2025$7.0MQ1 2026$10.6MQ2 2026$14.6MQ3 2026
Operating cash flow less capital spending.
Farmers & Merchants Bancorp: operating cash flow against capital spendingFarmers & Merchants Bancorp: operating cash flow against capital spendingOperating cash flowCapital spending$2.6M$729KQ4 2024$11.0M$386KQ1 2025$1.1M$719KQ2 2025$11.2M$475KQ3 2025$13.4M$187KQ4 2025$7.7M$663KQ1 2026$10.8M$209KQ2 2026$14.9M$285KQ3 2026
Latest (Q3 2026): Operating cash flow $14.9M, Capital spending $285K.

Capital allocation, year by year

Farmers & Merchants Bancorp: where the cash came from (up) and went (down), by fiscal yearFarmers & Merchants Bancorp: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $34.7MFY2021: Net borrowing $40.0MFY2021: Asset sales $457KFY2021: Capital spending −$2.0MFY2021: Buybacks −$338KFY2021: Dividends −$7.7M$75.2MFY2021FY2022: Operating cash flow $40.7MFY2022: Net borrowing −$30.0MFY2022: Asset sales $440KFY2022: Capital spending −$2.6MFY2022: Buybacks −$308KFY2022: Dividends −$10.3M$41.1MFY2022FY2023: Operating cash flow $22.1MFY2023: Net borrowing −$10.0MFY2023: Asset sales $219KFY2023: Capital spending −$10.9MFY2023: Buybacks −$218KFY2023: Dividends −$11.3M$22.4MFY2023FY2024: Operating cash flow $32.5MFY2024: Capital spending −$1.9MFY2024: Buybacks −$664KFY2024: Dividends −$11.9M$32.5MFY2024FY2025: Operating cash flow $36.7MFY2025: Capital spending −$1.8MFY2025: Buybacks −$362KFY2025: Dividends −$12.1M$36.7MFY2025
Over these 5 years operating cash flow totalled $167M; the largest uses were dividends ($53.3M) and net borrowing ($40.0M). Cash-flow statements as filed.

Where the cash came from and went

Farmers & Merchants Bancorp: sources (+) and uses (−) of cash, Q3 2026Farmers & Merchants Bancorp: sources (+) and uses (−) of cash, Q3 2026Other financing$92.9MOther investing−$53.3MCash drawn (+) / kept (−)−$49.4MOperating cash flow$14.9MDividends−$3.1MBuybacks−$1.6MCapital spending−$285K
Farmers & Merchants Bancorp: sources (+) and uses (−) of cash, TTM to Q3 2026Farmers & Merchants Bancorp: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$183MOther investing−$125MCash drawn (+) / kept (−)−$88.8MOperating cash flow$46.7MDividends−$12.5MBuybacks−$1.7MCapital spending−$1.3M

From profit to cash

Farmers & Merchants Bancorp: net income to operating cash flow, Q3 2026Farmers & Merchants Bancorp: net income to operating cash flow, Q3 2026Net income$11.5MStock-based pay$300KOther operating capital$1.6MOperating cash flow$14.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026$14.9M−$285K−$1.6M−$3.1M−$49.4M$14.6M
Q2 2026$10.8M−$209K−$42K−$3.1M$17.1M$10.6M
Q1 2026$7.7M−$663K−$57K−$3.1M−$75.8M$7.0M
Q4 2025$13.4M−$187K−$1K−$3.1M$19.3M$13.2M
Q3 2025$11.2M−$475K−$338K−$3.0M−$28.8M$10.7M
Q2 2025$1.1M−$719K—−$3.0M$84.8M$385K
Q1 2025$11.0M−$386K−$23K−$3.0M$3.3M$10.6M
Q4 2024$2.6M−$729K—−$3.0M$69.2M$1.9M

Farmers & Merchants Bancorp: income statement and cash flow

Farmers & Merchants Bancorp, Q3 2026: revenue $34.8M (+11% year over year), operating margin 40.8%. The chart follows the revenue to costs, profit and cash.

Farmers & Merchants Bancorp: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.