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First Mid Bancshares, Inc.

FMBH Financial Banks Regional

First Mid Bancshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $466.0 million, up 2.73% from fiscal 2024. In the quarter to June 2026, revenue grew 22.8%, EPS grew 7.14%, free cash flow grew 290.9% and total debt fell 90.2%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

49.73 0.44 +0.89%
Market cap
$1.3B
P/E
12.3×
Fwd P/E
10.3×
Dividend yield
2.03%
F-score
8/9
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 0.01
Total sells 0.48
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — 1 — — — — — — — —
Sell — 2 — 2 — — — — — — — —
Insider Ownership 9.71%

Capital & Financial Ratios $m

Market Cap 1,310.00
Revenue 507.40
Net Income 100.26
Free Cash Flow 126.88
Net Debt (274.35)
Current Ratio 0.95
Debt/Equity 0.03
P/E ratio 12.31
Fwd P/E 10.30
P/S ratio 2.59
P/B ratio 1.19
Past 5Y EPS Growth 7.24%
This Y EPS Growth 16.78% (at or above 15%: strong)
Next Y EPS Growth 11.31%
Next Y revenue growth (32.39%) (below 0%: weak)
Next 5Y EPS Growth 11.12%

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

Valuation vs history

P/E against its own 10 years 48.54%
10-year low 10-year high
P/S against its own 10 years 49.21%
10-year low 10-year high
P/B against its own 10 years 73.35%
10-year low 10-year high

Dividends

Payout Ratio 0.25
Annual Dividend Rate 1.01
Annual Dividend Yield 2.03%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.02
0.25
0.25
0.26
2025 0.98
0.24
0.24
0.25
0.25
2024 0.94
0.23
0.23
0.24
0.24
2023 0.92
0.23
0.23
0.23
0.23
2022 0.90
0.22
0.22
0.23
0.23
2021 0.85
0.21
0.21
0.22
0.22
2020 0.81
0.40
0.41
2019 0.76
0.36
0.40
2018 0.41
0.29
0.05
0.36
2017 0.66
0.32
0.34
2016 0.46
0.30
0.16
0.16
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 143 121 255 308
Receivables — — — —
Inventory — — — —
Other — — — —
5,690 5,762 6,231 7,199
2023 2024 2025 Q'26
Payables 6,124 6,057 6,395 7,572
ST’ Debt — — — —
Other — — — —
6,236 6,150 6,461 7,604

Compound Annual Growth %

10y 5y 3y
Sales 19.30% 18.01% 17.05%
Cash Flow 19.52% 15.55% 25.74%
Earnings 20.42% 15.17% 7.94%
Book Value 16.68% 11.03% 14.83%

Revenue $m

Mar Jun Sep Dec Year
’26 127 144 — — —
’25 112 117 119 118 466
’24 112 111 114 116 454
’23 86 86 103 112 387
’22 68 70 74 79 291
’21 59 65 66 64 253
’20 51 49 50 53 204
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 25 26 — — —
’25 48 8 33 42 131
’24 29 24 33 38 124
’23 20 18 5 29 72
’22 24 (4) 34 12 66
’21 22 (20) 45 23 70
’20 17 9 8 30 64
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 23 24 — — —
’25 49 6 36 43 135
’24 28 23 32 37 119
’23 19 17 4 28 69
’22 24 (7) 33 10 61
’21 20 (21) 53 13 66
’20 16 8 8 29 61
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.06 1.04 — — —
’25 0.93 0.98 0.94 0.99 3.83
’24 0.86 0.82 0.81 0.80 3.30
’23 0.93 0.80 0.68 0.76 3.15
’22 0.86 0.86 0.88 1.01 3.60
’21 0.24 0.68 1.01 0.93 2.87
’20 0.60 0.60 0.69 0.81 2.70
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 22.95 28.37 30.01 30.20 18.60 31.77 31.57 21.77 28.86 27.58

Analyst estimates 2026–2028

Powerpack
High 36.80 42.03 42.46 36.45 35.31 45.84 45.00 35.83 43.86 42.85
People
People Employees 598 592 818 827 824 994 1,070 1,219 1,198 1,170
Revenue/emp, $m 0.17 0.22 0.20 0.25 0.25 0.25 0.27 0.32 0.38 0.40
Income, $m
Income, $m Revenue 102 130 160 206 204 253 291 387 454 466
Gross margin, % 95.81 95.01 91.98 88.31 91.79 93.96 89.12 72.42 71.64 74.93
EBT 34 42 49 63 60 67 91 88 104 117
EBT margin, % 32.99 32.12 30.32 30.75 29.33 26.42 31.42 22.85 23.01 25.12
Net income 22 27 37 48 45 51 73 69 79 92
Depreciation 8 8 8 11 12 14 15 15 21 20
Per share, $
Per share, $ Revenue 10.09 10.36 11.04 12.34 12.18 14.13 14.41 17.77 19.06 19.52
Earnings 2.07 2.13 2.53 2.88 2.71 2.88 3.62 3.17 3.31 3.84
Cash flow 2.70 3.68 2.91 3.77 3.80 3.89 3.26 3.32 5.23 5.48
Capex (0.06) (0.10) (0.21) (0.25) (0.15) (0.21) (0.25) (0.17) (0.21) 0.18
Free cash flow 2.65 3.58 2.70 3.52 3.65 3.68 3.01 3.16 5.02 5.66
Book value 27.66 24.57 32.85 31.58 33.99 35.44 31.39 36.42 35.56 40.16
Shares, m 10 13 14 17 17 18 20 22 24 24
Valuation, ×
Valuation, × P/E 16.10 17.88 12.57 12.24 12.42 14.96 8.89 10.83 11.16 10.16
P/S 3.30 3.69 2.89 2.86 2.76 3.03 2.23 1.94 1.93 2.00
P/B 1.20 1.56 0.97 1.12 0.99 1.21 1.03 0.95 1.04 0.97
EV/Sales 2.20 3.65 2.94 3.09 1.73 2.78 3.38 2.32 1.72 1.50
EV/FCF 8.39 10.58 12.03 10.82 5.77 10.66 16.13 13.04 6.52 5.17
Cash, $m
Cash, $m Operating cash flow 27 46 42 63 64 70 66 72 124 131
Capex (1) (1) (3) (4) (2) (4) (5) (4) (5) 4
Free cash flow 27 45 39 59 61 66 61 69 119 135
Balance, $m
Balance, $m Working capital (520) (411) (214) (359) (369) (923) (407) (546) (388) (230)
Total debt 64 84 149 133 207 106 484 288 24 24
Net debt (112) (5) 7 48 (210) (63) 332 145 (97) (230)
Shareholders’ equity 281 308 476 527 568 634 633 793 846 959
Returns, %
Returns, % ROA 0.84 0.93 1.10 1.25 1.06 0.96 1.15 0.96 1.04 1.18
ROIC 12.51 8.60 6.27 6.89 10.42 7.31 5.91 5.89 8.71 10.05
ROE 9.17 9.07 9.34 9.56 8.27 8.57 11.52 9.67 9.62 10.17
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

First Mid Bancshares, Inc. vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AMAL Amalgamated Financial Corp. $1.4B 12.4× 10.7× +15.47% (above 0%: growing) +36.47% (above 0%: growing) −23.52% (below 0%: shrinking) 75.97% 0.00% Compare
BHRB Burke & Herbert Financial Services Corp. $1.4B 11.1× 8.4× +20.93% (above 0%: growing) −74.75% (below 0%: shrinking) +49.60% (above 0%: growing) 70.87% 0.00% Compare
TMP Tompkins Financial Corporation $1.4B 7.9× 11.6× +2.51% (above 0%: growing) +36.42% (above 0%: growing) −198.57% (below 0%: shrinking) 73.16% 0.00% Compare
CTBI Community Trust Bancorp, Inc. $1.4B 12.5× 11.1× +6.97% (above 0%: growing) +18.84% (above 0%: growing) +217.37% (above 0%: growing) 72.12% 0.00% Compare
PEBO Peoples Bancorp Inc. $1.3B 11.0× 11.0× −3.48% (below 0%: shrinking) +31.67% (above 0%: growing) +12.07% (above 0%: growing) 76.44% 0.00% Compare
FMBH First Mid Bancshares, Inc. $1.3B 12.3× 10.3× +22.84% (above 0%: growing) +7.14% (above 0%: growing) +290.93% (above 0%: growing) 75.49% 0.00%
HBT HBT Financial, Inc. $1.3B 15.2× 11.1× +37.46% (above 0%: growing) +26.23% (above 0%: growing) +36.90% (above 0%: growing) 80.56% 0.00% Compare
OSBC Old Second Bancorp, Inc. $1.3B 14.0× 9.9× +32.87% (above 0%: growing) +12.24% (above 0%: growing) −31.22% (below 0%: shrinking) 84.39% 0.00% Compare
PFBC Preferred Bank $1.2B 9.4× 9.2× +1.39% (above 0%: growing) +10.55% (above 0%: growing) −33.29% (below 0%: shrinking) 58.34% 0.00% Compare
Median of peers $1.3B 11.8× 10.9× +11.22% +22.54% −5.72% 74.57% 0.00%

All 323 Banks Regional stocks →

First Mid Bancshares, Inc. (FMBH) key facts

  • Strength: First Mid Bancshares, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $466.0 million, up 2.73% from fiscal 2024.
  • Strength: Net income was $91.7 million, or $3.84 per share (basic), a net margin of 19.7%.
  • First Mid Bancshares, Inc. (FMBH) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, FMBH traded at $49.73, a market capitalization of $1.3 billion.
  • At that price the stock trades at 12.3× trailing-twelve-month earnings and 2.6× sales; its P/E is higher than 49% of its own readings over the past ten years.
  • First Mid Bancshares, Inc. pays an annual dividend of $1.01 per share, a yield of 2.03%, with a payout ratio of 25.1%.
  • Return on equity was 10.2% and debt-to-equity 0.03.
  • Its Piotroski F-score is 8 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

First Mid Bancshares, Inc. (FMBH) Latest News

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stockrow.com/FMBH · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com