AMES National (ATLO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ATLO SEC filings page.
AMES National Corp (ATLO) reported $72.6M in revenue over the twelve months to Jun 30, 2026, up 21.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 shows a liability-funded business recovering earnings through better utilization of a stable asset base.
Revenue rose 21.9% in FY2025 while total assets were unchanged, pointing to improved output from an essentially stable balance sheet. Net income rose 86.2% as interest expense fell 16.5%, indicating that the rebound reflected improved earnings economics rather than growth through additional assets.
Cash conversion remained aligned with accounting earnings: operating cash flow was
The capital structure strengthened despite high reported liabilities: liabilities represented 90.3% of assets, but long-term debt was only
Financial Health Signals
Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of AMES National Corp'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 National Corp earned a return on assets of 0.9% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is up from 0.5% the prior year. Earnings ranks banks on that return over three years, and AMES National Corp scores 29/100 among other banks.
AMES National Corp reported revenue of $66.8M in fiscal year 2025, against $54.8M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and AMES National Corp scores 65/100 among other banks.
AMES National Corp funded 9.7% of its assets with shareholders' equity at the end of fiscal year 2025, holding $207.9M of equity against $2.1B of assets. Capital ranks banks on that cushion, and AMES National Corp scores 31/100 among other banks.
Efficiency measures what a bank spends running itself against the revenue that spending brings in, so a lower ratio is the better one. AMES National Corp scores 31/100 on it among other banks.
Credit Quality measures the money a bank set aside for loans it expects to go bad, against the size of the loan book it set that money aside for. AMES National Corp scores 80/100 on it among other banks.
AMES National Corp reported net income of $19.0M in fiscal year 2025, against $10.2M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and AMES National Corp scores 36/100 among other banks.
AMES National Corp passes 7 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
Key Financial Metrics
Earnings & Revenue
AMES National Corp generated $19.1M in revenue in Q2 2026. This represents an increase of 18.5% from the same quarter a year earlier. Against the prior quarter it is up 4.8%.
AMES National Corp reported $5.9M in net income in Q2 2026. This represents an increase of 31.5% from the same quarter a year earlier. Against the prior quarter it is down 0.5%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
AMES National Corp generated $3.2M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 18.9% from the same quarter a year earlier. Against the prior quarter it is down 60.2%.
AMES National Corp held $107.2M in cash as of Q2 2026; no long-term debt figure is on record for that period.
AMES National Corp paid $0.24 per share in dividends in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. It is unchanged from the prior quarter.
Margins & Returns
AMES National Corp's net profit margin was 31.1% in Q2 2026, showing the share of revenue converted to profit. This is up 3.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.6 percentage points.
AMES National Corp's quarterly ROE was 2.8% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.1 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
AMES National Corp repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
AMES National Corp invested $273K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 137.4% from the same quarter a year earlier. Against the prior quarter it is down 32.6%.
Not reported for Q2 2026.
ATLO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $19.1M+18.5% | $18.2M+17.8% | $18.7M+26.7% | $16.6M+22.9% | $16.1M+19.4% | $15.5M+18.2% | $14.7M+11.3% | $13.5M+3.4% |
| Interest Expense | $6.9M-14.0% | $6.8M-17.3% | $7.4M-18.9% | $7.8M-19.0% | $8.0M-17.0% | $8.2M-10.9% | $9.1M+2.7% | $9.6M+19.3% |
| Income Tax | $1.8M+58.0% | $1.7M+117.9% | $1.8M+113.8% | $1.2M+191.2% | $1.1M+192.2% | $794K+90.9% | $825K+142.6% | $397K-33.5% |
| Net Income | $5.9M+31.5% | $6.0M+73.1% | $6.5M+85.4% | $4.6M+105.6% | $4.5M+106.5% | $3.4M+49.4% | $3.5M+64.2% | $2.2M-24.2% |
| EPS (Basic) | $0.67+31.4% | $0.67+71.8% | $0.73+87.2% | $0.51+104.0% | $0.51+112.5% | $0.39+50.0% | $0.39+69.6% | $0.25-24.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Diluted), Diluted Shares (Avg).
ATLO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.1B+1.4% | $2.1B-1.9% | $2.1B0.0% | $2.1B-0.7% | $2.1B-1.6% | $2.2B-0.3% | $2.1B-1.0% | $2.1B-1.4% |
| Cash & Equivalents | $107.2M+12.6% | $118.2M-27.7% | $126.8M+25.2% | $108.2M+83.4% | $95.2M+50.1% | $163.4M+46.7% | $101.2M+83.7% | $59.0M-34.5% |
| Goodwill | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% | $12.4M0.0% |
| Total Liabilities | $1.9B+0.5% | $1.9B-3.3% | $1.9B-1.7% | $1.9B-1.7% | $1.9B-3.0% | $2.0B-1.2% | $2.0B-1.6% | $1.9B-3.4% |
| Long-Term Debt | N/A | N/A | $18.4M-8.0% | N/A | N/A | N/A | $20.0M+472.0% | N/A |
| Total Equity | $213.1M+10.4% | $207.6M+13.4% | $207.9M+19.0% | $200.6M+9.4% | $193.0M+15.5% | $183.1M+10.6% | $174.7M+5.4% | $183.4M+25.1% |
| Retained Earnings | $203.7M+8.1% | $199.8M+8.7% | $196.0M+7.5% | $191.2M+5.9% | $188.4M+4.6% | $183.9M+2.0% | $182.2M+1.0% | $180.5M-0.1% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities.
ATLO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.4M-14.4% | $8.4M+17.5% | $7.5M+25.5% | $2.8M-11.2% | $4.0M+3.1% | $7.1M+420.3% | $5.9M-7.1% | $3.1M+32.4% |
| Depreciation & Amortization | $384K-3.5% | $384K-2.5% | $389K-10.8% | $409K-4.7% | $398K-3.9% | $394K-4.6% | $436K-2.2% | $429K-6.5% |
| Capital Expenditures | $273K+137.4% | $405K+107.7% | $231K+244.8% | $101K+50.7% | $115K+15.0% | $195K+204.7% | $67K-93.6% | $67K-94.8% |
| Free Cash Flow | $3.2M-18.9% | $8.0M+14.9% | $7.2M+23.0% | $2.6M-12.6% | $3.9M+2.8% | $6.9M+430.9% | $5.9M+9.9% | $3.0M+185.2% |
| Investing Cash Flow | $10.2M-63.5% | -$22.3M-244.5% | -$4.2M-120.8% | $5.1M-66.1% | $27.9M+52.4% | $15.5M-15.6% | $20.4Mn/m | $15.0M+49.2% |
| Financing Cash Flow | -$24.5Mn/m | $5.4M-86.4% | $15.4M-3.7% | $5.1Mn/m | -$100.1Mn/m | $39.6M+8.1% | $16.0Mn/m | -$22.6Mn/m |
| Dividends Paid | $2.1M+19.4% | $2.1M+19.3% | $1.8M-1.4% | $1.8M-26.7% | $1.8M-26.7% | $1.8M-26.6% | $1.8M-25.9% | $2.4M0.0% |
| Share Buybacks | $0-100.0% | $0-100.0% | $733K+4.1% | $122Kn/m | $279Kn/m | $550Kn/m | $704Kn/m | $0n/m |
Not reported in any period shown, so not listed: Stock-Based Compensation.
ATLO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 31.1%+3.1pp | 32.7%+10.4pp | 34.9%+11.1pp | 27.5%+11.1pp | 28.0%+11.8pp | 22.3%+4.7pp | 23.8%+7.7pp | 16.4%-6.0pp |
| Return on Equity | 2.8%+0.4pp | 2.9%+1.0pp | 3.1%+1.1pp | 2.3%+1.1pp | 2.3%+1.0pp | 1.9%+0.5pp | 2.0%+0.7pp | 1.2%-0.8pp |
| Return on Assets | 0.3%+0.1pp | 0.3%+0.1pp | 0.3%+0.1pp | 0.2%+0.1pp | 0.2%+0.1pp | 0.2%+0.1pp | 0.2%+0.1pp | 0.1%0.0pp |
| Debt-to-Equity | N/A | N/A | 0.090.0x | N/A | N/A | N/A | 0.11+0.1x | N/A |
| Liabilities-to-Equity | 8.96-0.9x | 9.32-1.6x | 9.26-1.9x | 9.51-1.1x | 9.84-1.9x | 10.93-1.3x | 11.21-0.8x | 10.58-3.1x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x | 0.010.0x |
| FCF Margin | 16.6%-7.6pp | 43.7%-1.1pp | 38.7%-1.1pp | 16.0%-6.5pp | 24.2%-3.9pp | 44.8%+34.8pp | 39.8%-0.5pp | 22.5%+14.3pp |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| AMES National Corp ATLO | FY2025 | $66.8M | $19.0M | 28.5% | $303.3M | 45/100 |
| Princeton Bancorp, Inc. BPRN | FY2025 | $84.3M | $18.6M | 22.1% | $299.5M | 39/100 |
| Hawthorn Bancshars Inc. HWBK | FY2025 | $80.2M | $23.8M | 29.7% | $287.7M | 40/100 |
| First United Corp FUNC | FY2025 | $88.7M | $24.5M | 27.6% | $301.0M | 55/100 |
| Oak Valley Bancorp OVLY | FY2025 | $81.7M | $23.9M | 29.3% | $293.2M | 51/100 |
| First Natl Corp Strasburg VA FXNC | FY2025 | $90.3M | $17.7M | 19.6% | $283.6M | 41/100 |
Where AMES National Corp Ranks
Frequently Asked Questions
AMES National Corp (ATLO) reported $66.8M in total revenue for fiscal year 2025. This represents a 21.9% 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.
AMES National Corp (ATLO) revenue grew by 21.9% year-over-year, from $54.8M to $66.8M in fiscal year 2025.
Yes, AMES National Corp (ATLO) reported a net income of $23.0M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $19.0M, with a net profit margin of 28.5%.
As of fiscal year 2025, AMES National Corp (ATLO) had $126.8M in cash and equivalents against $18.4M in long-term debt.
AMES National Corp (ATLO) had a net profit margin of 28.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Yes, AMES National Corp (ATLO) paid $0.60 per share in dividends during fiscal year 2025.
AMES National Corp (ATLO) has a return on equity of 9.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
AMES National Corp (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.
AMES National Corp (ATLO) generated $21.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
AMES National Corp (ATLO) had $2.1B in total assets as of fiscal year 2025, including both current and long-term assets.
AMES National Corp (ATLO) invested $642K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
AMES National Corp (ATLO) had a debt-to-equity ratio of 0.09 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
AMES National Corp (ATLO) had a liabilities-to-equity ratio of 9.26 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
AMES National Corp (ATLO) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
AMES National Corp (ATLO) trades at 13.2x earnings, its market capitalization divided by $23.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $303.3M as of Nov 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
AMES National Corp (ATLO) trades at 4.2x sales, its market capitalization divided by $72.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $303.3M as of Nov 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
AMES National Corp (ATLO) has a Piotroski F-Score of 7 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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.
AMES National Corp (ATLO) scores 45 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is the average of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.