AMES National Corp (ATLO) Financials

ATLO

Trailing 12 months to June 30, 2026

Revenue $72.6M +21.3% YoY

Net Income $23.0M +67.8% YoY

Free Cash Flow $21.0M +6.4% YoY

Operating Cash Flow $22.0M +9.1% YoY

Market Cap $286.2M as of Sep 18, 2026

Price / Sales 3.9x on $72.6M revenue, trailing 12 months to June 30, 2026

Price / Earnings 12.5x on $23.0M net income, trailing 12 months to June 30, 2026

Price / Book 1.3x on $213.1M equity, Q2 FY2026

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 Sep 18, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 7, 2026 Currency USD FYE December

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).

Rhea AI ATLO FY2025 2026-09-05

Earnings recovery is flowing through to cash while a balance-sheet-heavy financial business strengthens equity and lowers measured leverage.

The FY2025 earnings rebound was broadly cash-backed: net income reached $19.0M while operating cash flow reached $21.3M; free cash flow also remained close to operating cash flow. That alignment indicates the improved result was not primarily an accrual accounting outcome, supporting equity rebuilding as liabilities contracted.

Revenue rebounded 21.9% and interest expense declined 16.5% in FY2025, so the earnings recovery reflects both higher reported revenue and lower funding drag—not volume alone.

With assets essentially flat, equity rose 19.0% while liabilities fell 1.7% from FY2024, indicating stronger capitalization came from retained earnings and reduced obligations rather than balance-sheet expansion. Return on assets recovered to 0.9% from 0.5%, showing earnings improved faster than the asset base.

Financial Health Signals

Financial Health Score 47/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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.

Earnings

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 35/100 among other banks.

Growth

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 63/100 among other banks.

Capital

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 26/100 among other banks.

Efficiency

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 32/100 on it among other banks.

Credit Quality

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.

Stability

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 44/100 among other banks.

Piotroski F-Score Partial

7/7

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, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.12x

For every $1 of reported earnings, AMES National Corp 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

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Earnings & Revenue

Revenue

$19.1M

YoY+18.5%

QoQ+4.8%

5Y CAGR+2.6%

10Y CAGR+4.8%

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%.

Net Income

$5.9M

YoY+31.5%

QoQ-0.5%

5Y CAGR+0.2%

10Y CAGR+3.8%

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%.

EBITDA

Not reported for Q2 2026.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$3.2M

YoY-18.9%

QoQ-60.2%

5Y CAGR-15.9%

10Y CAGR-0.8%

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%.

Cash & Debt

$107.2M

YoY+12.6%

QoQ-9.2%

AMES National Corp held $107.2M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.24

QoQ0.0%

5Y CAGR-1.6%

AMES National Corp paid $0.24 per share in dividends in Q2 2026. It is unchanged from the prior quarter.

Shares Outstanding

YoY-0.5%

QoQ0.0%

5Y CAGR-0.6%

10Y CAGR-0.5%

AMES National Corp had 9M shares outstanding in Q2 2026. This represents a decrease of 0.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Net Margin

31.1%

YoY+3.1pp

QoQ-1.6pp

5Y change-3.9pp

10Y change-3.3pp

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.

Return on Equity

2.8%

YoY+0.4pp

QoQ-0.1pp

5Y change0.0pp

10Y change+0.4pp

AMES National Corp's ROE was 2.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. 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.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

YoY-100.0%

AMES National Corp repurchased no shares in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Capital Expenditures

$273K

YoY+137.4%

QoQ-32.6%

5Y CAGR-11.2%

10Y CAGR+10.3%

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%.

R&D Spending

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.

ATLO quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$72.6M	$66.8M+21.9%	$54.8M+1.8%	$53.8M-14.4%	$62.9M-5.4%	$66.5M+1.6%	$65.5M+21.5%	$53.9M+7.7%	$50.0M+3.8%	$48.2M+0.4%	$48.0M+1.6%	$47.2M+3.4%	$45.7M+11.2%	$41.1M+3.3%	$39.8M+5.0%	$37.9M
SG&A Expenses	$27.1M	$26.2M+4.1%	$25.1M+6.3%	$23.7M+3.3%	$22.9M+2.8%	$22.3M-2.6%	$22.9M+16.2%	$19.7M+10.4%	$17.8M+11.4%	$16.0M+2.0%	$15.7M+3.0%	$15.2M+7.8%	$14.1M+7.6%	$13.1M+5.3%	$12.5M+7.2%	$11.6M
Interest Expense	$28.9M	$31.4M-16.5%	$37.6M+26.8%	$29.7M+257.2%	$8.3M+85.3%	$4.5M-44.6%	$8.1M-25.9%	$10.9M+43.7%	$7.6M+36.2%	$5.6M+35.0%	$4.1M-1.2%	$4.2M-8.0%	$4.5M-10.4%	$5.1M-11.8%	$5.8M-14.5%	$6.7M
Income Tax	$6.4M	$4.8M+139.2%	$2.0M-2.4%	$2.1M-64.7%	$5.9M-13.2%	$6.8M+54.3%	$4.4M+13.9%	$3.8M-12.7%	$4.4M-41.9%	$7.6M+11.5%	$6.8M+17.2%	$5.8M+3.4%	$5.6M+20.6%	$4.7M-1.9%	$4.7M+4.3%	$4.6M
Net Income	$23.0M	$19.0M+86.2%	$10.2M-5.5%	$10.8M-43.9%	$19.3M-19.3%	$23.9M+26.9%	$18.9M+9.6%	$17.2M+1.1%	$17.0M+24.2%	$13.7M-12.9%	$15.7M+4.8%	$15.0M-1.6%	$15.3M+9.3%	$14.0M-1.6%	$14.2M+1.9%	$13.9M
EPS (Basic)	N/A	$2.14+87.7%	$1.14-5.0%	$1.20-43.9%	$2.14-18.3%	$2.62+27.2%	$2.06+10.8%	$1.86+1.6%	$1.83+24.5%	$1.47-13.0%	$1.69+5.0%	$1.61-1.8%	$1.64+9.3%	$1.50-1.3%	$1.52+2.7%	$1.48
EPS (Diluted)	—	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.48

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	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%
SG&A Expenses	$7.0M+8.2%	$6.8M+6.3%	$7.0M+12.5%	$6.4M+1.3%	$6.5M+0.7%	$6.4M+2.2%	$6.2M+4.5%	$6.3M+6.6%
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, Operating Income, EBITDA, EPS (Diluted), Diluted Shares (Avg).

ATLO Balance Sheet

ATLO quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$2.1B0.0%	$2.1B-1.0%	$2.2B+1.0%	$2.1B-0.1%	$2.1B+8.2%	$2.0B+13.7%	$1.7B+19.3%	$1.5B+5.9%	$1.4B+0.6%	$1.4B+3.0%	$1.3B+2.0%	$1.3B+5.5%	$1.2B+1.3%	$1.2B+17.6%	$1.0B
Cash & Equivalents	$126.8M+25.2%	$101.2M+83.7%	$55.1M+97.6%	$27.9M-68.7%	$89.1M-48.5%	$173.1M+400.0%	$34.6M+13.9%	$30.4M+15.1%	$26.4M-10.5%	$29.5M+22.8%	$24.0M+1.2%	$23.7M-2.2%	$24.3M-30.3%	$34.8M+52.5%	$22.8M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$12.4M0.0%	$12.4M0.0%	$12.4M0.0%	$12.4M0.0%	$12.4M0.0%	$12.4M+2.6%	$12.1M+24.3%	$9.7M+44.7%	$6.7M0.0%	$6.7M0.0%	$6.7M0.0%	$6.7M+20.2%	$5.6M0.0%	$5.6M	$0
Total Liabilities	$1.9B-1.7%	$2.0B-1.6%	$2.0B+0.2%	$2.0B+2.9%	$1.9B+9.2%	$1.8B+14.0%	$1.5B+20.8%	$1.3B+6.5%	$1.2B+0.2%	$1.2B+3.1%	$1.2B+1.7%	$1.1B+5.1%	$1.1B+1.7%	$1.1B+19.1%	$901.0M
Long-Term Debt	$18.4M-8.0%	$20.0M+472.0%	$3.5M	N/A	N/A	N/A	N/A	N/A	$13.0M0.0%	$13.0M0.0%	$13.0M-43.5%	$23.0M+15.0%	$20.0M0.0%	$20.0M0.0%	$20.0M
Total Equity	$207.9M+19.0%	$174.7M+5.4%	$165.8M+11.2%	$149.1M-28.2%	$207.8M-0.8%	$209.5M+11.7%	$187.6M+8.5%	$172.9M+1.2%	$170.8M+3.4%	$165.1M+2.4%	$161.3M+4.3%	$154.7M+8.8%	$142.1M-1.8%	$144.7M+7.6%	$134.6M
Retained Earnings	$196.0M+7.5%	$182.2M+1.0%	$180.4M+0.3%	$179.9M+5.6%	$170.4M+7.7%	$158.2M+8.2%	$146.2M+6.0%	$137.9M+4.7%	$131.7M+4.4%	$126.2M+6.7%	$118.3M+6.8%	$110.7M+8.4%	$102.2M+8.5%	$94.2M+10.0%	$85.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	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%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
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, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

ATLO Cash Flow Statement

ATLO quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$22.0M	$21.3M+49.2%	$14.3M-25.6%	$19.2M-9.5%	$21.2M-30.3%	$30.5M+2.6%	$29.7M+47.2%	$20.2M-2.5%	$20.7M+9.9%	$18.8M-12.0%	$21.4M-5.3%	$22.6M+16.0%	$19.5M-17.1%	$23.5M+6.9%	$22.0M+3.5%	$21.3M
Depreciation & Amortization	N/A	$1.6M-6.0%	$1.7M-3.4%	$1.8M-12.3%	$2.0M-1.4%	$2.0M-10.8%	$2.3M+23.1%	$1.8M+17.9%	$1.6M+4.1%	$1.5M-4.7%	$1.6M+0.6%	$1.6M+29.7%	$1.2M+12.9%	$1.1M+8.8%	$985K+32.8%	$742K
Capital Expenditures	$1.0M	$642K+115.4%	$298K-93.9%	$4.9M+71.2%	$2.9M+52.5%	$1.9M+50.0%	$1.2M+60.0%	$780K+26.6%	$617K+19.0%	$518K+93.5%	$268K-87.8%	$2.2M+38.1%	$1.6M+256.7%	$446K-48.4%	$863K+55.8%	$554K
Free Cash Flow	$21.0M	$20.7M+47.8%	$14.0M-2.2%	$14.3M-22.1%	$18.4M-35.7%	$28.6M+0.5%	$28.5M+46.7%	$19.4M-3.4%	$20.1M+9.6%	$18.3M-13.3%	$21.1M+3.5%	$20.4M+14.0%	$17.9M-22.4%	$23.1M+9.1%	$21.1M+2.1%	$20.7M
Investing Cash Flow	-$11.3M	$44.2M-38.6%	$72.0M+277.6%	$19.1M+115.0%	-$127.4M+52.6%	-$268.6M-45.8%	-$184.3M-133.4%	-$79.0M-1014.4%	$8.6M+151.1%	-$16.9M+61.1%	-$43.5M-26.5%	-$34.4M-312.4%	$16.2M+133.8%	-$47.9M+37.7%	-$77.0M-17.9%	-$65.3M
Financing Cash Flow	$1.3M	-$40.0M+0.3%	-$40.2M-263.3%	-$11.1M-124.6%	$44.9M-70.9%	$154.1M-25.1%	$205.8M+226.6%	$63.0M+348.5%	-$25.4M-403.9%	-$5.0M-118.3%	$27.5M+128.8%	$12.0M+133.2%	-$36.2M-361.4%	$13.9M-79.3%	$66.9M+30.3%	$51.3M
Dividends Paid	$7.8M	$7.1M-21.7%	$9.1M-6.5%	$9.7M+0.4%	$9.7M+3.0%	$9.4M+3.5%	$9.1M+3.3%	$8.8M-18.7%	$10.8M+33.3%	$8.1M+4.8%	$7.7M+6.4%	$7.3M+11.4%	$6.5M+11.1%	$5.9M+8.6%	$5.4M+14.8%	$4.7M
Share Buybacks	$855K	$1.7M+139.2%	$704K	$0-100.0%	$2.3M+223.9%	$710K-64.4%	$2.0M+10.1%	$1.8M+300.0%	$452K	N/A	N/A	N/A	N/A	$0	$0-100.0%	$2.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	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%	$20.4M+202.9%	$15.0M+49.2%
Financing Cash Flow	-$24.5M+75.5%	$5.4M-86.4%	$15.4M-3.7%	$5.1M+122.7%	-$100.1M-42.7%	$39.6M+8.1%	$16.0M+174.0%	-$22.6M-44.4%
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%	$122K	$279K	$550K	$704K	$0

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.

ATLO quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	28.5%+9.8pp	18.6%-1.4pp	20.1%-10.6pp	30.7%-5.3pp	35.9%+7.2pp	28.8%-3.1pp	31.9%-2.1pp	34.0%+5.6pp	28.4%-4.4pp	32.8%+1.0pp	31.8%-1.6pp	33.4%-0.6pp	34.0%-1.7pp	35.7%-1.1pp	36.8%
Return on Equity	9.2%+3.3pp	5.9%-0.7pp	6.5%-6.4pp	12.9%+1.4pp	11.5%+2.5pp	9.0%-0.2pp	9.2%-0.7pp	9.8%+1.8pp	8.0%-1.5pp	9.5%+0.2pp	9.3%-0.5pp	9.9%0.0pp	9.8%0.0pp	9.8%-0.5pp	10.3%
Return on Assets	0.9%+0.4pp	0.5%0.0pp	0.5%-0.4pp	0.9%-0.2pp	1.1%+0.2pp	0.9%0.0pp	1.0%-0.2pp	1.2%+0.2pp	1.0%-0.1pp	1.1%0.0pp	1.1%0.0pp	1.2%0.0pp	1.1%0.0pp	1.2%-0.2pp	1.3%
Debt-to-Equity	0.090.0x	0.11+0.1x	0.02-13.3x	13.32+4.0x	9.29+0.9x	8.43+0.2x	8.26+0.8x	7.42+7.3x	0.080.0x	0.080.0x	0.08-0.1x	0.150.0x	0.140.0x	0.140.0x	0.15
Asset Turnover	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.030.0x	0.030.0x	0.04
FCF Margin	31.0%+5.4pp	25.5%-1.0pp	26.6%-2.6pp	29.2%-13.8pp	43.0%-0.5pp	43.5%+7.5pp	36.0%-4.2pp	40.2%+2.1pp	38.0%-6.0pp	44.1%+0.8pp	43.3%+4.0pp	39.2%-17.0pp	56.2%+3.0pp	53.2%-1.5pp	54.7%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	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	8.96-0.9x	9.32-1.6x	0.090.0x	9.51-1.1x	9.84-1.9x	10.93-1.3x	0.11+0.1x	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.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
AMES National Corp ATLO	FY2025	$66.8M	$19.0M	28.5%	$286.2M	47/100
First Savings Financial Group, Inc FSFG	FY2025	$84.2M	$23.2M	27.5%	$238.4M	20/100
National Bankshares Inc/VA NKSH	FY2025	$55.6M	$15.8M	28.5%	$270.4M	50/100
Meridian Corporation MRBK	FY2025	$126.9M	$21.8M	17.2%	$230.5M	33/100
Blue Foundry Bancorp BLFY	FY2025	$49.1M	-$10.0M	-20.4%	$274.9M	25/100
Eagle Financial Services Inc EFSI	FY2025	$69.5M	$8.2M	11.8%	$248.3M	26/100

Where AMES National Corp Ranks

Frequently Asked Questions

What is AMES National Corp's annual revenue?

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.

How fast is AMES National Corp's revenue growing?

AMES National Corp (ATLO) revenue grew by 21.9% year-over-year, from $54.8M to $66.8M in fiscal year 2025.

Is AMES National Corp profitable?

Yes, AMES National Corp (ATLO) reported a net income of $19.0M in fiscal year 2025, with a net profit margin of 28.5%.

How much debt does AMES National Corp have?

As of fiscal year 2025, AMES National Corp (ATLO) had $126.8M in cash and equivalents against $18.4M in long-term debt.

What is AMES National Corp's net profit margin?

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.

Does AMES National Corp pay dividends?

Yes, AMES National Corp (ATLO) paid $0.60 per share in dividends during fiscal year 2025.

What is AMES National Corp's return on equity (ROE)?

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.

What is AMES National Corp's free cash flow?

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.

What is AMES National Corp's operating cash flow?

AMES National Corp (ATLO) generated $21.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are AMES National Corp's total assets?

AMES National Corp (ATLO) had $2.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are AMES National Corp's capital expenditures?

AMES National Corp (ATLO) invested $642K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does AMES National Corp buy back shares?

Yes, AMES National Corp (ATLO) spent $1.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does AMES National Corp have outstanding?

AMES National Corp (ATLO) had 9M shares outstanding as of fiscal year 2025.

What is AMES National Corp's debt-to-equity ratio?

AMES National Corp (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 National Corp's return on assets (ROA)?

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.

What is AMES National Corp's P/E ratio?

AMES National Corp (ATLO) trades at 12.5x earnings, its market capitalization divided by net income of $23.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $286.2M as of Sep 18, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is AMES National Corp's price-to-sales ratio?

AMES National Corp (ATLO) trades at 3.9x sales, its market capitalization divided by revenue of $72.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $286.2M as of Sep 18, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is AMES National Corp's Piotroski F-Score?

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.

Are AMES National Corp's earnings high quality?

AMES National Corp (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 National Corp?

AMES National Corp (ATLO) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite 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.