Saturday 17 October 2026 Export ATLO’s income statement to Excel — free account

Ames National Corporation

Ames National Corporation’s revenue for fiscal 2025 (year ended December 2025) was $98.3 million, up 6.29% from fiscal 2024. In the quarter to June 2026, revenue grew 7.68%, EPS grew 31.4% and free cash flow fell 13.3%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.

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Market cap: $284.8M
P/E: 12.5×
Fwd P/E: 11.0×
Dividend yield: 2.86%
F-score: 9/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.09

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	3	2	1	1	—	1	3	—	1	3	1	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 2.00%

Capital & Financial Ratios $m

Market Cap 284.76

Revenue 101.45

Net Income 22.96

Free Cash Flow 24.38

Net Debt (115.08)

Current Ratio 0.72

Debt/Equity 0.00

P/E ratio 12.47

Fwd P/E 11.00

P/S ratio 2.81

P/B ratio 1.34

Past 5Y EPS Growth 0.76%

This Y EPS Growth 33.33%

Next Y EPS Growth 3.68%

Next Y revenue growth —

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 41.98%

10-year low 10-year high

P/S against its own 10 years 39.51%

10-year low 10-year high

P/B against its own 10 years 58.75%

10-year low 10-year high

Dividends

Payout Ratio 0.36

Annual Dividend Rate 0.92

Annual Dividend Yield 2.86%

	total	individual payouts
2027	Powerpack
2026	0.96	0.24 0.24 0.24
2025	0.80	0.20 0.20 0.20 0.20
2024	1.01	0.27 0.27 0.27 0.20
2023	1.35	0.27 0.27 0.27 0.27 0.27
2022	1.07	0.26 0.27 0.27 0.27
2021	1.03	0.25 0.26 0.26 0.26
2020	0.99	0.24 0.25 0.25 0.25
2019	0.95	0.23 0.24 0.24 0.24
2018	0.68	0.22 0.25 0.23 0.23
2017	0.87	0.21 0.22 0.22 0.22
2016	0.83	0.20 0.21 0.21 0.21

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	67	111	135	115
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	1,358	1,429	1,430	1,380

	2023	2024	2025	Q'26
Payables	1,812	1,847	1,855	1,853
ST’ Debt	—	—	—	—
Other	—	—	—	—
	1,987	1,957	1,926	1,910

Compound Annual Growth %

	10y	5y	3y
Sales	6.69%	5.96%	11.32%
Cash Flow	(0.58%)	(6.41%)	0.17%
Earnings	2.40%	0.19%	(0.46%)
Book Value	2.57%	(0.15%)	11.72%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	25	26	—	—	—
’25	24	24	24	26	98
’24	22	23	23	24	92
’23	19	21	21	22	84
’22	17	17	18	19	71
’21	18	18	18	17	71
’20	18	18	19	18	74

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	8	3	—	—	—
’25	7	4	3	7	21
’24	1	4	3	6	14
’23	6	4	2	6	19
’22	7	4	4	6	21
’21	9	8	6	7	30
’20	12	6	3	8	30

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	8	3	—	—	—
’25	7	4	3	10	24
’24	1	4	3	6	14
’23	5	3	1	5	14
’22	6	3	4	5	18
’21	9	8	6	7	29
’20	14	7	3	8	32

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.67	0.67	—	—	—
’25	0.39	0.51	0.51	0.73	2.14
’24	0.26	0.24	0.25	0.39	1.14
’23	0.36	0.28	0.33	0.24	1.20
’22	0.57	0.46	0.62	0.49	2.14
’21	0.66	0.64	0.74	0.58	2.62
’20	0.39	0.49	0.62	0.57	2.06

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	22.54	26.60	24.51	24.47	16.53	22.05	20.16	15.01	15.69	16.04	Analyst estimates 2026–2028 Powerpack
	High	35.30	37.45	32.15	29.46	28.05	27.90	25.55	25.00	22.41	24.36
People
People	Employees	202	207	231	266	132	125	122	273	268	260
	Revenue/emp, $m	0.26	0.26	0.25	0.24	0.56	0.57	0.58	0.31	0.34	0.38
Income, $m
Income, $m	Revenue	52	54	58	65	74	71	71	84	92	98
	Gross margin, %	92.07	89.62	86.81	83.14	88.99	93.68	88.34	64.47	59.29	68.01
	EBT	23	21	21	21	23	31	25	13	12	24
	EBT margin, %	43.23	39.57	37.17	32.47	31.58	43.19	35.32	15.43	13.24	24.29
	Net income	16	14	17	17	19	24	19	11	10	19
	Depreciation	5	4	2	2	3	3	5	4	3	2
Per share, $
Per share, $	Revenue	5.60	5.78	6.19	7.02	8.04	7.79	7.89	9.29	10.28	11.05
	Earnings	1.69	1.47	1.83	1.86	2.06	2.62	2.14	1.20	1.14	2.14
	Cash flow	2.30	2.02	2.22	2.18	3.25	3.34	2.35	2.14	1.59	2.40
	Capex	0.04	(0.04)	(0.03)	0.01	0.28	(0.12)	(0.30)	(0.54)	(0.02)	0.28
	Free cash flow	2.34	1.98	2.20	2.19	3.53	3.22	2.05	1.59	1.57	2.68
	Book value	17.73	18.34	18.57	20.31	22.90	22.80	16.51	18.44	19.43	23.37
	Shares, m	9	9	9	9	9	9	9	9	9	9
Valuation, ×
Valuation, ×	P/E	19.56	19.12	13.97	15.01	11.60	9.35	11.03	17.61	14.41	10.73
	P/S	5.90	4.86	4.11	4.00	2.99	3.14	2.99	2.29	1.60	2.08
	P/B	1.86	1.53	1.37	1.38	1.05	1.07	1.43	1.16	0.85	0.98
	EV/Sales	5.30	3.77	3.33	1.81	0.38	1.64	2.72	1.82	0.69	0.98
	EV/FCF	12.45	10.91	9.36	5.81	0.87	3.98	10.46	10.62	4.54	4.05
Cash, $m
Cash, $m	Operating cash flow	21	19	21	20	30	30	21	19	14	21
	Capex	0	0	0	0	3	(1)	(3)	(5)	0	2
	Free cash flow	22	18	20	20	32	29	18	14	14	24
Balance, $m
Balance, $m	Working capital	(378)	(336)	(321)	(333)	(424)	(660)	(699)	(629)	(527)	(496)
	Total debt	28	14	2	5	3	3	39	—	—	—
	Net debt	(33)	(59)	(58)	(142)	(192)	(106)	(47)	(67)	(111)	(135)
	Shareholders’ equity	165	171	173	188	209	208	149	166	175	208
Returns, %
Returns, %	ROA	1.17	1.00	1.20	1.08	1.02	1.16	0.90	0.50	0.48	0.89
	ROIC	10.68	11.90	11.62	28.67	81.50	18.92	15.43	8.16	12.06	20.53
	ROE	9.64	8.16	9.90	9.54	9.49	11.46	10.81	6.87	6.00	9.95

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BPRN Princeton Bancorp, Inc.	$295.6M	11.5×	9.7×	−2.61% (below 0%: shrinking)	+940.00% (above 0%: growing)	−38.15% (below 0%: shrinking)	65.93%	0.00%	Compare
MYFW First Western Financial, Inc.	$287.7M	15.5×	12.3×	+10.12% (above 0%: growing)	+126.92% (above 0%: growing)	+216.45% (above 0%: growing)	58.35%	0.00%	Compare
ATLO Ames National Corporation	$284.8M	12.5×	11.0×	+7.68% (above 0%: growing)	+31.37% (above 0%: growing)	−13.26% (below 0%: shrinking)	73.46%	0.00%
FUNC First United Corporation	$283.5M	11.4×	9.1×	+5.24% (above 0%: growing)	−4.35% (below 0%: shrinking)	+705.52% (above 0%: growing)	75.95%	0.00%	Compare
FRAF Franklin Financial Services Corp.	$282.6M	11.4×	10.0×	+1.12% (above 0%: growing)	+11.36% (above 0%: growing)	+20.95% (above 0%: growing)	71.88%	0.00%	Compare
OVLY Oak Valley Bancorp (CA)	$282.3M	12.0×	—	+4.45% (above 0%: growing)	−8.82% (below 0%: shrinking)	−20.28% (below 0%: shrinking)	85.32%	0.00%	Compare
ISBA Isabella Bank Corporation	$280.1M	13.5×	11.9×	+13.60% (above 0%: growing)	+1.47% (above 0%: growing)	+1.06% (above 0%: growing)	73.42%	0.00%	Compare
VABK Virginia National Bankshares Corporation	$279.1M	11.1×	17.8×	+24.86% (above 0%: growing)	+110.13% (above 0%: growing)	−47.94% (below 0%: shrinking)	77.48%	0.00%	Compare
NKSH National Bankshares, Inc.	$276.0M	13.6×	10.7×	+6.17% (above 0%: growing)	+119.44% (above 0%: growing)	+118.57% (above 0%: growing)	71.02%	0.00%	Compare
Median of peers	$282.4M	11.7×	10.7×	+5.71%	+60.74%	+11.01%	72.65%	0.00%

All 323 Banks Regional stocks →

Ames National Corporation (ATLO) key facts

Strength: Ames National Corporation’s revenue for fiscal 2025 (year ended December 2025) was $98.3 million, up 6.29% from fiscal 2024.
Strength: Net income was $19.0 million, or $2.14 per share (basic), a net margin of 19.4%.
Ames National Corporation (ATLO) is a Banks Regional company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, ATLO traded at $32.17, a market capitalization of $284.8 million.
At that price the stock trades at 12.5× trailing-twelve-month earnings and 2.8× sales; its P/E is higher than 42% of its own readings over the past ten years.
Ames National Corporation pays an annual dividend of $0.92 per share, a yield of 2.86%, with a payout ratio of 35.7%.
Return on equity was 9.95% and debt-to-equity 0.00.
Its Piotroski F-score is 9 out of 9 for fiscal 2025.