ATLONasdaqNational Commercial BanksFiscal year ends December 31
AMES NATIONAL CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$32.31+0.14 (+0.44%)
Close on Oct 19, 2026
- Market cap
- $286.18M
- P/E (TTM)
- 12.5
- Dividend yield
- 1.86%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
28.5%−0.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +21.9% | +2.0% | +0.4% | +3.5% | |
| Net income | +86.2% | -0.5% | +0.2% | +2.4% | |
| Free cash flow | +47.8% | +4.1% | -6.2% | +0.1% | |
| Dividend per share | -36.2% | -17.8% | -4.4% | -2.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.6% | 9.5% | 9.9% | |
| Return on assets | 1.2% | 1.0% | 0.9% | |
| Capex to revenue | 0.6% | 1.9% | 1.0% | |
| Diluted shares | 9M | 9M | 9M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ames National generated $106.55M from operations and spent $60.94M on capital expenditure, dividends and share buybacks. 17% of that went back into the business.
Generated
$106.55M
Used
$60.94M
Capital expenditure$10.57M17%Dividends$44.97M74%Share buybacks$5.40M9%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin28.5%
×Asset turnover0.03×
×Equity multiplier11.15×
=Return on equity, FY20259.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 28.5% | 0.03× | 11.15× | 9.9% |
| FY2024 | 18.6% | 0.03× | 12.60× | 6.0% |
| FY2023 | 20.1% | 0.03× | 13.63× | 6.9% |
| FY2022 | 30.7% | 0.03× | 11.97× | 10.8% |
| FY2021 | 35.9% | 0.03× | 9.86× | 11.5% |
| FY2020 | 28.8% | 0.04× | 9.35× | 9.5% |
| FY2019 | 31.9% | 0.03× | 8.86× | 9.5% |
| FY2018 | 34.0% | 0.04× | 8.24× | 9.9% |
| FY2017 | 28.4% | 0.04× | 8.16× | 8.2% |
| FY2016 | 32.8% | 0.04× | 8.25× | 9.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$19.03M
- Cash generatingOperating cash flow above zero$21.34M
- Return on assets improvedROA up on the prior year0.5% → 0.9%
- Earnings backed by cashOperating cash flow above net income$21.34M vs $19.03M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise9M → 9M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.03 → 0.03