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Held by 177 of 6,047 reporting institutions (90th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
A reverse discounted cash flow is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 49% of free cash flow, leaving room to grow it and fund buybacks. Last year: $25.5M dividends + $0 buybacks = $25.5M returned on $52.2M FCF.
1 consecutive years of dividend increases · 17%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-05
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $279.9M 100.0% | $269.4M 100.0% | $255.2M 100.0% | $186.3M 100.0% | — | — | — | — | — | — |
| Total Operating Expenses | $214.9M 76.8% | $214.0M 79.4% | $196.5M 77.0% | $113.5M 60.9% | — | — | — | — | — | — |
| Interest Expense | — | — | $75.5M 29.6% | $17.9M 9.6% | $8.5M | $16.1M | $19.6M | $13.3M | $6.9M | $4.4M |
| Pretax Income | $65.0M 23.2% | $55.4M 20.6% | $58.7M 23.0% | $72.8M 39.1% | $62.1M | $50.3M | $43.1M | $38.3M | $33.2M | $28.0M |
| Income Tax Expense | $10.5M 3.7% | $9.5M 3.5% | $8.8M 3.4% | $12.2M 6.6% | $10.3M | $8.4M | $7.3M | $5.7M | $10.4M | $7.5M |
| Net Income | $54.6M 19.5% | $45.9M 17.1% | $49.9M 19.6% | $60.6M 32.5% | $51.8M | $41.9M | $35.8M | $32.6M | $22.7M | $20.6M |
| Per Share | ||||||||||
| EPS (Basic) | $1.46 | $1.23 | $1.34 | $1.79 | $1.78 | $1.48 | $1.29 | $1.18 | $0.82 | $0.76 |
| EPS (Diluted) | $1.45 | $1.22 | $1.33 | $1.79 | $1.77 | $1.47 | $1.28 | $1.16 | $0.82 | $0.76 |
| Weighted Avg Shares (Basic) | 37.4M | 37.3M | 37.4M | 33.8M | 29.2M | 28.3M | 27.7M | 27.7M | 27.6M | 27.2M |
| Weighted Avg Shares (Diluted) | 37.6M | 37.5M | 37.5M | 33.9M | 29.3M | 28.4M | 27.9M | 28.0M | 27.6M | 27.2M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-05
Where each multiple sits in its own 14-yr range · 68th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 11% against ROIC 6% — 5% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 12.2% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Income Tax | — | — | — | — | 6.6 | 3.4 | 3.5 | 3.7 |
| Net Income | — | — | — | — | 32.5 | 19.6 | 17.1 | 19.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FMNB: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Leverage ratios is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~17.0% on $443.7M of debt. Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Ranked against 18 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| STT | $48.4B | 18.8× | — | 3.5× | 7.3% | — | 21.1% | 10.6% | 10.6% | — | 1,210 |
| NTRS | $31.2B | 19.5× | — | 3.9× | -2.5% | — | 21.5% | 13.4% | 13.4% | — | 977 |
| CFG | $27.1B | 16.7× | — | 3.3× | 5.6% | — | 22.2% | 7.0% | 4.9% | — | 1,055 |
| FCNCA | $23.6B | 12.7× | — | 2.5× | -2.2% | — | 23.1% | 9.9% | 3.8% | — | 606 |
| ALLY | $11.4B | 15.9× | — | 1.4× | -3.3% | — | 10.8% | 5.5% | 2.5% | — | 599 |
| FBP | $4.1B | 12.6× | — | 3.3× | 2.4% | — | 27.5% | 17.5% | 15.3% | — | 298 |
| UCB | $4.0B | 12.9× | — | 3.8× | 11.7% | — | 30.9% | 9.0% | 8.5% | — | 359 |
| FHB | $3.0B | 11.4× | — | 3.5× | 8.9% | — | 31.4% | 10.0% | 10.0% | — | 354 |
| BUSE | $2.4B | 20.1× | — | 3.4× | 55.7% | — | 18.8% | 5.5% | 5.5% | — | 254 |
| GABC | $1.9B | 16.1× | — | 3.8× | 37.8% | — | 23.1% | 9.7% | 8.9% | — | 184 |
| UVSP | $1.1B | 13.3× | — | 3.5× | 9.6% | — | 27.7% | 9.6% | 9.4% | — | 218 |
| FMNB | $905M | 10.5× | — | 3.2× | 3.9% | — | 19.5% | 11.2% | 6.4% | — | 177 |
| WASH | $727M | 14.1× | — | 3.2× | 128% | — | 22.8% | 9.6% | 9.6% | — | 176 |
| ACNB | $649M | 17.7× | — | 3.4× | 45.1% | — | 19.3% | 8.8% | 5.0% | — | 118 |
| PEBO | $605M | 12.4× | 8.0× | 7.0× | 2.3% | — | — | 8.8% | 5.5% | 3.8× | 217 |
| COFS | $494M | 16.4× | — | 2.2× | 63.6% | — | 12.4% | 6.1% | 6.1% | — | 125 |
| CFFI | $323M | 12.0× | — | 2.3× | 10.6% | — | 19.1% | 10.3% | 9.5% | — | 80 |
| MYFW | $293M | 22.4× | — | 3.0× | 7.6% | — | 13.6% | 5.0% | 5.0% | — | 100 |
| MNSB | $177M | 14.1× | — | 1.3× | -1.6% | 54.3% | 11.5% | 7.1% | 7.1% | — | 94 |
Peers = companies sharing FMNB's sector (State Commercial Banks) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2022 | not reported | not reported | 32.5% |
| FY2023 | not reported | not reported | 19.6% |
| FY2024 | not reported | not reported | 17.1% |
| FY2025 | not reported | not reported | 19.5% |
Leverage and buybacks account for 5 points of the 11% return on equity in FY2025. The business earns 6% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Converts 1.13x of reported profit into free cash flow over 5 years, with accruals negative.
Shares outstanding are up 36% since FY2019 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Leverage is not measurable this way for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
At $15.28, free cash flow must compound 9.6%/yr for 10 years. It has done 5.75%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 21.6% | 9.6% |
| FY2021 | 18.0% | 9.6% |
| FY2022 | 47.4% | 9.6% |
| FY2023 | −25.2% | 9.6% |
| FY2024 | −7.0% | 9.6% |
| FY2025 | −5.0% | 9.6% |
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $55M | $55M |
| Share-based comp | $2M | $57M |
| Other non-cash & working capital | $3M | $60M |
| Operating cash flow | $60M | $60M |
| Capex | −$8M | $52M |
| Free cash flow | $52M | $52M |
| FCF after SBC | $50M | $50M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2023 | 37.0% | not reported | not reported |
| FY2024 | 5.6% | not reported | not reported |
| FY2025 | 3.9% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -0.1 percent |
| FY2020 | -0.2 percent |
| FY2021 | -0.1 percent |
| FY2022 | -0.5 percent |
| FY2023 | -0.3 percent |
| FY2024 | -0.4 percent |
| FY2025 | -0.1 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.