Ames Natl Financials
This page shows Ames Natl (ATLO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 profit recovery came from better economics on an almost unchanged asset base, not from growing the balance sheet.
Assets were essentially unchanged around$2.13B , so the FY2025 earnings rebound was not driven by a larger balance sheet. Instead, funding-cost relief did much of the work: interest expense fell by about$6.2M while net margin widened to21.9% , suggesting better profitability on the same earning-asset base.
Cash conversion looks sturdy because operating cash flow of
Management also appears to have shifted from payout toward retention: dividends paid were cut to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Ames Natl's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ames Natl's revenue grew 5.4% year-over-year to $87.1M, a solid pace of expansion. This earns a growth score of 47/100.
Ames Natl carries a low D/E ratio of 0.09, meaning only $0.09 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Ames Natl converts 23.8% of revenue into free cash flow ($20.7M). This strong cash generation earns a score of 77/100.
Ames Natl generates a 9.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 28/100. This is up from 5.9% the prior year.
Ames Natl passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Ames Natl generates $1.12 in operating cash flow ($21.3M OCF vs $19.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Ames Natl generated $87.1M in revenue in fiscal year 2025. This represents an increase of 5.4% from the prior year.
Ames Natl reported $19.0M in net income in fiscal year 2025. This represents an increase of 86.2% from the prior year.
Cash & Balance Sheet
Ames Natl generated $20.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 47.8% from the prior year.
Ames Natl held $126.8M in cash against $18.4M in long-term debt as of fiscal year 2025.
Ames Natl paid $0.60 per share in dividends in fiscal year 2025. This represents a decrease of 36.2% from the prior year.
Ames Natl had 9M shares outstanding in fiscal year 2025. This represents a decrease of 1.0% from the prior year.
Margins & Returns
Ames Natl's net profit margin was 21.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 9.5 percentage points from the prior year.
Ames Natl's ROE was 9.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.3 percentage points from the prior year.
Capital Allocation
Ames Natl spent $1.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 139.2% from the prior year.
Ames Natl invested $642K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 115.4% from the prior year.
ATLO Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $22.6M+3.6% | $21.9M+1.7% | $21.5M+1.7% | $21.1M-0.6% | $21.2M+2.6% | $20.7M+0.9% | $20.5M+2.1% | $20.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $7.0M+9.0% | $6.4M-1.6% | $6.5M+1.7% | $6.4M+3.1% | $6.2M-1.8% | $6.3M-2.3% | $6.4M+3.2% | $6.2M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $7.4M-5.1% | $7.8M-2.7% | $8.0M-2.2% | $8.2M-10.1% | $9.1M-5.3% | $9.6M-0.3% | $9.7M+5.0% | $9.2M |
| Income Tax | $1.8M+52.6% | $1.2M+2.8% | $1.1M+41.7% | $794K-3.8% | $825K+107.8% | $397K+3.1% | $385K-7.5% | $416K |
| Net Income | $6.5M+42.9% | $4.6M+1.1% | $4.5M+31.0% | $3.4M-2.0% | $3.5M+58.5% | $2.2M+1.5% | $2.2M-5.2% | $2.3M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ATLO Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.1B+1.2% | $2.1B+0.7% | $2.1B-4.2% | $2.2B+2.4% | $2.1B+0.5% | $2.1B-0.1% | $2.1B-3.0% | $2.2B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $126.8M+17.2% | $108.2M+13.6% | $95.2M-41.7% | $163.4M+61.4% | $101.2M+71.7% | $59.0M-7.1% | $63.4M-43.1% | $111.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M |
| Total Liabilities | $1.9B+1.0% | $1.9B+0.4% | $1.9B-5.1% | $2.0B+2.2% | $2.0B+1.0% | $1.9B-1.0% | $2.0B-3.3% | $2.0B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $18.4M | N/A | N/A | N/A | $20.0M | N/A | N/A | N/A |
| Total Equity | $207.9M+3.6% | $200.6M+3.9% | $193.0M+5.4% | $183.1M+4.8% | $174.7M-4.7% | $183.4M+9.8% | $167.1M+0.9% | $165.5M |
| Retained Earnings | $196.0M+2.5% | $191.2M+1.5% | $188.4M+2.5% | $183.9M+0.9% | $182.2M+1.0% | $180.5M+0.2% | $180.1M-0.1% | $180.3M |
ATLO Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $7.5M+171.1% | $2.8M-31.4% | $4.0M-43.6% | $7.1M+19.8% | $5.9M+91.7% | $3.1M-20.4% | $3.9M+184.5% | $1.4M |
| Capital Expenditures | $231K+128.7% | $101K-12.2% | $115K-41.0% | $195K+191.0% | $67K0.0% | $67K-33.0% | $100K+56.3% | $64K |
| Free Cash Flow | $7.2M+172.7% | $2.6M-32.0% | $3.9M-43.7% | $6.9M+17.9% | $5.9M+93.7% | $3.0M-20.0% | $3.8M+190.8% | $1.3M |
| Investing Cash Flow | -$4.2M-183.4% | $5.1M-81.8% | $27.9M+80.5% | $15.5M-24.0% | $20.4M+35.8% | $15.0M-18.2% | $18.3M-0.1% | $18.3M |
| Financing Cash Flow | $15.4M+199.9% | $5.1M+105.1% | -$100.1M-352.9% | $39.6M+147.9% | $16.0M+170.8% | -$22.6M+67.9% | -$70.2M-291.7% | $36.6M |
| Dividends Paid | $1.8M-0.4% | $1.8M-0.1% | $1.8M-0.1% | $1.8M-0.9% | $1.8M-25.9% | $2.4M0.0% | $2.4M0.0% | $2.4M |
| Share Buybacks | $733K+500.8% | $122K-56.3% | $279K-49.3% | $550K-21.9% | $704K | $0 | $0 | $0 |
ATLO Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 28.8%+7.9pp | 20.9%-0.1pp | 21.0%+4.7pp | 16.3%-0.2pp | 16.5%+5.8pp | 10.7%+0.1pp | 10.6%-0.8pp | 11.5% |
| Return on Equity | 3.1%+0.9pp | 2.3%-0.1pp | 2.3%+0.5pp | 1.9%-0.1pp | 2.0%+0.8pp | 1.2%-0.1pp | 1.3%-0.1pp | 1.4% |
| Return on Assets | 0.3%+0.1pp | 0.2%0.0pp | 0.2%+0.1pp | 0.2%0.0pp | 0.2%+0.1pp | 0.1%0.0pp | 0.1%-0.0pp | 0.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.09-9.4 | 9.51-0.3 | 9.84-1.1 | 10.93+10.8 | 0.11-10.5 | 10.58-1.2 | 11.73-0.5 | 12.24 |
| FCF Margin | 31.9%+19.8pp | 12.1%-6.0pp | 18.1%-14.6pp | 32.8%+5.1pp | 27.6%+13.0pp | 14.6%-3.8pp | 18.5%+12.0pp | 6.5% |
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Frequently Asked Questions
What is Ames Natl's annual revenue?
Ames Natl (ATLO) reported $87.1M in total revenue for fiscal year 2025. This represents a 5.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ames Natl's revenue growing?
Ames Natl (ATLO) revenue grew by 5.4% year-over-year, from $82.6M to $87.1M in fiscal year 2025.
Is Ames Natl profitable?
Yes, Ames Natl (ATLO) reported a net income of $19.0M in fiscal year 2025, with a net profit margin of 21.9%.
How much debt does Ames Natl have?
As of fiscal year 2025, Ames Natl (ATLO) had $126.8M in cash and equivalents against $18.4M in long-term debt.
What is Ames Natl's net profit margin?
Ames Natl (ATLO) had a net profit margin of 21.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Ames Natl pay dividends?
Yes, Ames Natl (ATLO) paid $0.60 per share in dividends during fiscal year 2025.
What is Ames Natl's return on equity (ROE)?
Ames Natl (ATLO) has a return on equity of 9.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ames Natl's free cash flow?
Ames Natl (ATLO) generated $20.7M in free cash flow during fiscal year 2025. This represents a 47.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ames Natl's operating cash flow?
Ames Natl (ATLO) generated $21.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ames Natl's total assets?
Ames Natl (ATLO) had $2.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ames Natl's capital expenditures?
Ames Natl (ATLO) invested $642K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Ames Natl's debt-to-equity ratio?
Ames Natl (ATLO) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ames Natl's return on assets (ROA)?
Ames Natl (ATLO) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ames Natl's Piotroski F-Score?
Ames Natl (ATLO) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ames Natl's earnings high quality?
Ames Natl (ATLO) has an earnings quality ratio of 1.12x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Ames Natl?
Ames Natl (ATLO) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.