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Ames National (ATLO) Financials

Ames National logo
$28.84 -0.23 (-0.79%)
Closing price 07/8/2026 04:00 PM Eastern
Extended Trading
$28.82 -0.02 (-0.09%)
As of 07/8/2026 05:23 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Ames National

Annual Income Statements for Ames National

This table shows Ames National's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2020 2021 2022 2023 2024 2025
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 15 15 16 14 17 19 24 19 11 10 19
Consolidated Net Income / (Loss)		 15 15 16 14 17 19 24 19 11 10 19
Net Income / (Loss) Continuing Operations		 15 15 16 14 17 19 24 19 11 10 19
Total Pre-Tax Income 		21 21 23 21 21 23 31 25 13 12 24
Total Revenue		 46 47 48 42 44 65 67 63 54 55 67
Net Interest Income / (Expense)		 36 39 40 40 42 55 56 53 45 45 56
Total Interest Income		 41 43 44 46 50 63 60 62 74 83 87
Loans and Leases Interest Income		 27 31 32 34 38 50 48 46 57 66 68
Investment Securities Interest Income		 13 12 11 11 11 11 12 15 15 14 15
Other Interest Income		 - - - 0.60 0.94 1.08 0.70 0.90 2.53 2.81 4.06
Total Interest Expense		 4.55 4.19 4.14 5.58 7.60 8.10 4.49 8.31 30 38 31
Deposits Interest Expense		 3.39 3.02 3.07 4.44 6.84 7.82 4.34 7.32 24 32 29
Long-Term Debt Interest Expense		 1.16 1.17 1.06 1.14 0.76 0.28 0.14 0.99 5.21 5.62 2.55
Total Non-Interest Income		 9.25 8.27 8.09 7.99 7.90 11 11 9.69 9.22 9.84 11
Other Service Charges		 3.45 3.75 3.65 0.75 0.76 0.94 0.90 0.94 1.16 1.08 11
Net Realized & Unrealized Capital Gains on Investments		 3.05 1.80 1.51 1.29 0.78 2.54 1.70 0.64 0.40 0.36 0.54
Other Non-Interest Income		 - - - - - 7.14 7.94 8.11 7.66 8.40 0.00
Provision for Credit Losses		 0.43 1.10 0.52 1.52 0.64 5.68 -0.76 -0.87 0.79 0.59 1.04
Total Non-Interest Expense		 24 25 25 25 28 37 37 39 40 42 42
Salaries and Employee Benefits		 14 15 16 16 18 23 22 23 24 25 26
Net Occupancy & Equipment Expense		 4.29 4.92 5.26 5.32 5.49 7.85 8.21 9.10 8.95 9.16 8.77
Marketing Expense		 1.10 1.06 1.02 1.03 1.17 1.08 1.47 1.43 1.36 1.37 1.51
Property & Liability Insurance Claims		 0.65 0.68 0.54 0.43 0.40 0.31 0.58 0.61 1.10 1.16 1.03
Other Operating Expenses		 3.89 3.00 2.06 -3.69 -3.93 2.97 2.81 3.27 3.82 4.04 3.38
Amortization Expense		 0.32 0.42 0.37 0.37 0.43 1.47 1.27 1.33 1.27 1.10 1.07
Income Tax Expense		 5.62 5.81 6.80 7.58 4.41 4.38 6.76 5.87 2.07 2.02 4.84
Basic Earnings per Share		 $1.64 $1.61 $1.69 $1.47 $1.83 $2.06 $2.62 $2.14 $1.20 $1.14 $2.14
Weighted Average Basic Shares Outstanding		 9.31M 9.31M 9.31M 9.31M 9.24M 9.12M 9.09M 8.99M 8.99M 8.92M 8.86M
Weighted Average Diluted Shares Outstanding		 9.31M 9.31M 9.31M 9.31M 9.24M 9.12M 9.09M 8.99M 8.99M 8.92M 8.86M
Weighted Average Basic & Diluted Shares Outstanding		 9.31M 9.31M 9.31M 9.31M 9.24M 9.12M 9.09M 8.99M 8.99M 8.92M 8.86M
Cash Dividends to Common per Share		 $0.72 $0.80 - - $1.17 $0.75 $1.29 $1.08 $1.08 $0.94 $0.60

Quarterly Income Statements for Ames National

This table shows Ames National's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 2.92 2.14 2.30 2.18 2.22 3.51 3.44 4.51 4.56 6.51 5.96
Consolidated Net Income / (Loss)		 2.92 2.14 2.30 2.18 2.22 3.51 3.44 4.51 4.56 6.51 5.96
Net Income / (Loss) Continuing Operations		 2.92 2.14 2.30 2.18 2.22 3.51 3.44 4.51 4.56 6.51 5.96
Total Pre-Tax Income 		3.52 2.48 2.72 2.57 2.61 4.34 4.24 5.64 5.72 8.28 7.69
Total Revenue		 13 13 13 13 13 15 15 16 17 19 18
Net Interest Income / (Expense)		 11 11 11 11 11 12 13 13 14 15 15
Total Interest Income		 19 20 20 21 21 21 21 21 22 23 22
Loans and Leases Interest Income		 15 15 16 16 17 17 17 17 17 18 17
Investment Securities Interest Income		 3.70 3.66 3.63 3.54 3.47 3.38 3.29 3.57 3.76 4.07 4.43
Other Interest Income		 0.48 1.04 0.66 0.78 0.50 0.87 1.15 1.25 0.69 0.97 0.97
Total Interest Expense		 8.07 8.89 9.21 9.66 9.64 9.13 8.20 8.02 7.80 7.41 6.79
Deposits Interest Expense		 6.52 7.26 7.59 8.17 8.28 7.97 7.42 7.39 7.17 6.90 6.34
Long-Term Debt Interest Expense		 1.56 1.63 1.62 1.49 1.36 1.15 0.78 0.63 0.63 0.50 0.45
Total Non-Interest Income		 2.36 2.29 2.18 2.62 2.41 2.63 2.55 2.64 2.53 3.45 2.79
Other Service Charges		 0.33 -1.63 0.38 2.45 2.30 -1.63 0.31 2.49 2.36 5.46 0.36
Net Realized & Unrealized Capital Gains on Investments		 0.12 0.11 -0.08 0.17 0.11 -0.00 0.08 0.15 0.17 0.15 0.13
Other Non-Interest Income		 1.90 3.81 1.88 0.00 0.00 4.26 2.16 0.00 0.00 -2.16 2.29
Provision for Credit Losses		 -0.27 0.76 0.17 0.18 0.37 -0.13 0.96 0.11 0.63 -0.66 -0.35
Total Non-Interest Expense		 9.80 10 10 11 11 11 10 10 10 11 11
Salaries and Employee Benefits		 5.90 5.91 6.24 6.44 6.29 6.18 6.37 6.48 6.37 6.95 6.78
Net Occupancy & Equipment Expense		 2.17 2.28 2.21 2.28 2.22 2.44 2.12 2.18 2.25 2.21 2.29
Marketing Expense		 0.31 0.39 0.38 0.29 0.32 0.39 0.37 0.31 0.34 0.49 0.34
Property & Liability Insurance Claims		 0.28 0.29 0.30 0.30 0.28 0.29 0.26 0.28 0.25 0.24 0.24
Other Operating Expenses		 0.82 0.84 0.80 1.18 1.14 0.92 0.87 0.85 0.76 0.91 1.14
Amortization Expense		 0.32 0.31 0.26 0.26 0.26 0.32 0.27 0.27 0.27 0.26 0.09
Income Tax Expense		 0.60 0.34 0.42 0.39 0.40 0.83 0.79 1.13 1.16 1.76 1.73
Basic Earnings per Share		 $0.33 $0.23 $0.26 $0.24 $0.25 $0.39 $0.39 $0.51 $0.51 $0.73 $0.67
Weighted Average Basic Shares Outstanding		 8.99M 8.99M 8.99M 8.99M 8.99M 8.92M 8.92M 8.90M 8.89M 8.86M 8.86M
Weighted Average Diluted Shares Outstanding		 8.99M 8.99M 8.99M 8.99M 8.99M 8.92M 8.92M 8.90M 8.89M 8.86M 8.86M
Weighted Average Basic & Diluted Shares Outstanding		 8.99M 8.99M 8.99M 8.99M 8.99M 8.92M 8.92M 8.90M 8.89M 8.86M 8.86M
Cash Dividends to Common per Share		 $0.27 - $0.27 $0.27 $0.20 - $0.20 $0.00 $0.20 - $0.24

Annual Cash Flow Statements for Ames National

This table details how cash moves in and out of Ames National's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.28 5.47 -3.08 3.99 4.23 51 -84 -61 27 46 26
Net Cash From Operating Activities		 23 21 19 21 20 30 30 21 19 14 21
Net Cash From Continuing Operating Activities		 23 21 19 21 20 30 31 21 19 14 21
Net Income / (Loss) Continuing Operations		 15 16 14 17 17 19 24 19 11 10 19
Consolidated Net Income / (Loss)		 15 16 14 17 17 19 24 19 11 10 19
Provision For Loan Losses		 1.11 0.55 1.51 0.65 1.33 5.73 -0.78 -0.77 0.79 0.59 1.04
Depreciation Expense		 4.55 4.27 3.93 3.11 2.30 1.45 1.40 1.42 1.25 1.36 1.29
Amortization Expense		 0.42 0.37 0.37 0.43 1.19 2.45 3.87 3.46 2.79 1.95 1.03
Non-Cash Adjustments to Reconcile Net Income		 1.74 -0.12 0.58 -0.68 -2.46 -0.28 1.41 -0.34 -0.08 -0.15 -0.63
Changes in Operating Assets and Liabilities, net		 -0.21 0.61 -1.25 0.19 0.62 1.51 0.73 -1.84 3.64 0.33 -0.42
Net Cash From Investing Activities		 -34 -43 -17 8.64 -79 -184 -269 -127 19 72 44
Net Cash From Continuing Investing Activities		 -34 -43 -17 8.64 -79 -184 -269 -127 19 72 44
Purchase of Property, Leasehold Improvements and Equipment		 -2.20 -0.27 -0.52 -0.62 -0.78 -1.25 -1.87 -2.86 -4.89 -0.30 -0.64
Purchase of Investment Securities		 -101 -78 -69 -48 -106 -240 -376 -155 -25 -26 -124
Sale and/or Maturity of Investments		 106 91 85 83 115 140 121 109 96 123 148
Other Investing Activities, net		 -37 -57 -32 -26 -90 -83 -12 -78 -47 -24 20
Net Cash From Financing Activities		 12 28 -5.03 -25 63 206 154 45 -11 -40 -40
Net Cash From Continuing Financing Activities		 12 28 -5.03 -25 63 206 154 45 -11 -40 -40
Net Change in Deposits		 22 35 25 3.55 84 224 162 20 -86 35 7.99
Issuance of Debt		 4.50 0.00 0.00 13 3.00 - 0.00 4.00 258 131 2.80
Repayment of Debt		 -10 -4.04 -1.00 -25 -13 -2.00 0.00 32 -187 -195 -28
Repurchase of Common Equity		 - - 0.00 -0.45 -1.81 -1.99 -0.71 -2.30 0.00 -0.70 -1.68
Payment of Dividends		 -7.26 -7.73 -8.10 -11 -8.78 -9.07 -9.39 -9.68 -9.71 -9.08 -7.11
Other Financing Activities, Net		 3.02 4.05 -21 -5.75 -0.39 -4.74 2.56 0.83 13 -1.58 -14
Cash Interest Paid		 4.46 4.17 5.51 7.39 11 8.80 5.06 8.56 26 39 32
Cash Income Taxes Paid		 4.29 5.82 6.89 4.63 3.96 5.50 6.30 4.97 1.81 0.63 4.52

Quarterly Cash Flow Statements for Ames National

This table details how cash moves in and out of Ames National's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -3.24 -35 56 -48 -4.47 42 62 -68 13 19 -8.60
Net Cash From Operating Activities		 2.34 6.39 1.37 3.89 3.10 5.94 7.12 4.01 2.75 7.46 8.36
Net Cash From Continuing Operating Activities		 2.34 6.39 1.37 3.89 3.10 5.94 7.12 4.01 2.75 7.46 8.36
Net Income / (Loss) Continuing Operations		 2.92 2.14 2.30 2.18 2.22 3.51 3.44 4.51 4.56 6.51 5.96
Consolidated Net Income / (Loss)		 2.92 2.14 2.30 2.18 2.22 3.51 3.44 4.51 4.56 6.51 5.96
Provision For Loan Losses		 -0.27 0.76 0.17 0.18 0.37 -0.13 0.96 0.11 0.63 -0.66 -0.35
Depreciation Expense		 0.33 0.33 0.33 0.33 0.34 0.36 0.32 0.32 0.33 0.32 0.32
Amortization Expense		 0.72 0.64 0.52 0.53 0.43 0.46 0.39 0.34 0.22 0.08 -0.24
Non-Cash Adjustments to Reconcile Net Income		 0.18 0.28 -0.47 0.20 0.15 -0.03 -0.22 0.18 -0.57 -0.02 -0.16
Changes in Operating Assets and Liabilities, net		 -1.53 2.24 -1.48 0.47 -0.42 1.76 2.22 -1.45 -2.42 1.22 2.83
Net Cash From Investing Activities		 10 -20 18 18 15 20 15 28 5.07 -4.23 -22
Net Cash From Continuing Investing Activities		 10 -20 18 18 15 20 15 28 5.07 -4.23 -22
Purchase of Property, Leasehold Improvements and Equipment		 -1.28 -1.05 -0.06 -0.10 -0.07 -0.07 -0.20 -0.12 -0.10 -0.23 -0.41
Purchase of Investment Securities		 -5.34 -6.49 -12 -6.00 -2.54 -5.96 -13 -47 -29 -35 -70
Sale and/or Maturity of Investments		 14 33 24 32 32 34 31 50 30 37 33
Other Investing Activities, net		 2.34 -45 6.35 -7.67 -15 -8.05 -2.36 25 4.41 -6.32 16
Net Cash From Financing Activities		 -16 -22 37 -70 -23 16 40 -100 5.13 15 5.38
Net Cash From Continuing Financing Activities		 -16 -22 37 -70 -23 16 40 -100 5.13 15 5.38
Net Change in Deposits		 -35 -17 60 -51 -19 45 60 -87 14 22 13
Issuance of Debt		 41 67 88 19 22 2.45 2.80 9.00 - - 0.00
Repayment of Debt		 -32 -63 -108 -23 -25 -39 -14 -14 -7.15 -2.15 -3.15
Repurchase of Common Equity		 - - 0.00 - - - -0.55 -0.28 -0.12 -0.73 0.00
Payment of Dividends		 -2.43 -2.43 -2.43 -2.43 -2.43 -1.80 -1.78 -1.78 -1.78 -1.77 -2.13
Other Financing Activities, Net		 13 -6.95 -0.96 -12 2.09 9.66 -6.64 -5.71 0.56 -1.82 -2.07
Cash Interest Paid		 6.14 7.74 11 9.04 9.78 8.97 8.86 8.10 7.79 7.33 7.13
Cash Income Taxes Paid		 0.61 0.33 0.00 0.05 0.19 0.38 0.04 2.12 0.91 1.45 0.00

Annual Balance Sheets for Ames National

This table presents Ames National's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,327 1,366 1,375 1,456 1,737 1,976 2,137 2,135 2,155 2,133 2,134
Cash and Due from Banks		 24 29 26 30 35 25 20 21 24 20 20
Interest Bearing Deposits at Other Banks		 27 32 43 26 109 148 70 7.07 31 82 106
Time Deposits Placed and Other Short-Term Investments		 - - - - - - 17 15 8.90 6.17 5.68
Trading Account Securities		 538 516 495 459 483 599 831 787 737 649 656
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,226 1,278 0.00 0.00
Premises and Equipment, Net		 17 16 15 16 18 17 18 19 23 22 21
Goodwill		 6.73 6.73 6.73 9.74 12 12 12 12 12 12 12
Intangible Assets		 1.31 1.35 1.09 2.68 3.96 3.13 2.51 1.93 1.43 1.09 0.79
Other Assets		 11 13 16 21 29 23 23 47 41 1,342 1,311
Total Liabilities & Shareholders' Equity		 1,327 1,366 1,375 1,456 1,737 1,976 2,137 2,135 2,155 2,133 2,134
Total Liabilities		 1,165 1,201 1,204 1,283 1,550 1,766 1,929 1,986 1,990 1,958 1,926
Non-Interest Bearing Deposits		 203 212 227 230 267 350 412 392 371 358 354
Interest Bearing Deposits		 872 897 907 991 1,226 1,367 1,466 1,506 1,441 1,488 1,501
Federal Funds Purchased and Securities Sold		 54 58 37 41 42 37 40 41 54 52 39
Accrued Interest Payable		 - - - - - - - 0.67 4.71 3.21 2.56
Long-Term Debt		 32 28 27 15 5.00 3.00 3.00 39 111 47 21
Other Long-Term Liabilities		 - - - - 0.00 1.73 8.39 - 6.14 7.43 8.27
Total Equity & Noncontrolling Interests		 161 165 171 173 188 209 208 149 166 175 208
Total Preferred & Common Equity		 161 165 171 173 188 209 208 149 166 175 208
Total Common Equity		 161 165 171 173 188 209 208 149 166 175 208
Common Stock		 40 40 40 39 37 35 35 32 32 32 30
Retained Earnings		 118 126 132 138 146 158 170 180 180 182 196
Accumulated Other Comprehensive Income / (Loss)		 3.48 -0.58 -0.43 -4.08 4.11 16 2.86 -63 -47 -39 -18

Quarterly Balance Sheets for Ames National

This table presents Ames National's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,154 2,192 2,126 2,123 2,184 2,093 2,108 2,143
Cash and Due from Banks		 22 18 25 23 20 24 23 21
Interest Bearing Deposits at Other Banks		 68 93 38 36 143 71 85 97
Time Deposits Placed and Other Short-Term Investments		 9.89 7.66 6.42 6.17 5.17 6.92 5.68 5.43
Trading Account Securities		 737 724 691 689 641 645 652 689
Loans and Leases, Net of Allowance		 0.00 1,273 1,281 1,296 1,306 0.00 0.00 0.00
Premises and Equipment, Net		 22 22 22 22 21 21 21 21
Goodwill		 12 12 12 12 12 12 12 12
Intangible Assets		 1.54 1.34 1.26 1.17 1.02 0.94 0.86 0.72
Other Assets		 49 40 48 38 34 1,311 1,308 1,295
Total Liabilities & Shareholders' Equity		 2,154 2,192 2,126 2,123 2,184 2,093 2,108 2,143
Total Liabilities		 2,007 2,026 1,959 1,940 2,001 1,900 1,907 1,935
Non-Interest Bearing Deposits		 372 354 341 335 337 309 310 331
Interest Bearing Deposits		 1,457 1,518 1,481 1,466 1,570 1,510 1,523 1,537
Federal Funds Purchased and Securities Sold		 61 53 41 43 46 40 41 37
Accrued Interest Payable		 3.56 2.57 3.19 3.05 2.56 2.47 2.49 2.22
Long-Term Debt		 106 90 86 83 36 31 24 18
Other Long-Term Liabilities		 8.29 - 5.94 7.36 8.94 7.43 7.98 10
Total Equity & Noncontrolling Interests		 147 166 167 183 183 193 201 208
Total Preferred & Common Equity		 147 166 167 183 183 193 201 208
Total Common Equity		 147 166 167 183 183 193 201 208
Common Stock		 32 32 32 32 31 31 31 30
Retained Earnings		 181 180 180 181 184 188 191 200
Accumulated Other Comprehensive Income / (Loss)		 -66 -47 -45 -29 -32 -26 -21 -22

Annual Metrics And Ratios for Ames National

This table displays calculated financial ratios and metrics derived from Ames National's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 9,310,913.00 9,310,913.00 9,310,913.00 9,310,913.00 9,222,747.00 9,122,747.00 9,092,167.00 8,992,167.00 8,992,167.00 - 8,892,167.00
DEI Adjusted Shares Outstanding		 9,310,913.00 9,310,913.00 9,310,913.00 9,310,913.00 9,222,747.00 9,122,747.00 9,092,167.00 8,992,167.00 8,992,167.00 - 8,892,167.00
DEI Earnings Per Adjusted Shares Outstanding		 1.61 1.69 1.47 1.83 1.86 2.07 2.63 2.15 1.20 - 2.14
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 3.42% 1.62% -11.97% 3.34% 7.70% 0.00% 1.64% -5.42% -14.45% 1.81% 21.93%
EBITDA Growth		 -1.23% 5.38% -27.78% -5.25% -4.03% 13.24% 32.51% -16.40% -43.65% -8.20% 68.47%
EBIT Growth		 -0.22% 8.25% -31.99% -1.76% -1.77% 10.40% 32.03% -17.97% -48.77% -5.03% 94.97%
NOPAT Growth		 -1.55% 4.80% -12.95% 24.21% 1.06% 9.63% 26.86% -19.32% -43.93% -5.54% 86.21%
Net Income Growth		 -1.55% 4.80% -12.95% 24.21% 1.06% 9.63% 26.86% -19.32% -43.93% -5.54% 86.21%
EPS Growth		 -1.83% 4.97% -13.02% 24.49% 1.64% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 15.96% -5.33% -12.01% 9.86% -2.54% 47.24% 2.55% -30.32% -9.53% -25.55% 49.23%
Free Cash Flow Firm Growth		 5,981.37% 10.84% -43.16% 196.18% -54.93% -108.75% 2,522.82% 63.35% -284.79% 183.96% -82.38%
Invested Capital Growth		 0.34% -0.10% 2.41% -4.96% 2.73% 10.34% -0.80% -10.70% 46.84% -19.80% 3.42%
Revenue Q/Q Growth		 -0.83% 0.12% -3.57% 2.36% 3.42% 0.00% -0.73% -1.52% -3.60% 2.81% 6.25%
EBITDA Q/Q Growth		 5.09% 0.67% -8.78% -2.50% -3.34% 171.08% 2.85% -6.02% -15.64% 12.33% 15.50%
EBIT Q/Q Growth		 6.73% 1.20% -10.30% -1.91% -2.39% 155.30% 2.65% -6.13% -19.00% 17.91% 19.77%
NOPAT Q/Q Growth		 5.45% 0.70% -8.90% 9.77% 0.57% 5.00% 0.42% -4.39% -17.36% 15.54% 18.73%
Net Income Q/Q Growth		 5.45% 0.70% -8.90% 9.77% 0.57% 5.00% 0.42% -4.39% -17.36% 15.54% 18.73%
EPS Q/Q Growth		 5.23% 0.60% -8.70% 10.24% 0.00% 5.10% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 5.26% 0.54% -7.55% -0.29% 3.10% 9.38% -5.01% -2.54% 0.85% -3.07% 7.65%
Free Cash Flow Firm Q/Q Growth		 156.41% -9.27% -71.22% -38.81% 307.60% -1,443.10% 31.61% -39.20% -3.44% 1,381.04% -80.42%
Invested Capital Q/Q Growth		 -13.80% -13.14% -3.93% 5.89% 0.74% 1.65% -1.22% 14.26% 9.42% -16.82% 2.30%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 54.61% 56.63% 46.46% 42.60% 44.46% 41.44% 54.02% 47.75% 31.45% 28.36% 39.18%
EBIT Margin		 44.08% 46.96% 36.28% 34.49% 39.05% 35.49% 46.10% 39.98% 23.94% 22.33% 35.71%
Profit (Net Income) Margin		 31.79% 32.78% 32.42% 38.97% 31.91% 28.79% 35.94% 30.66% 20.09% 18.64% 28.47%
Tax Burden Percent		 72.11% 69.81% 64.36% 79.43% 81.71% 81.14% 77.96% 76.68% 83.92% 83.47% 79.72%
Interest Burden Percent		 100.00% 100.00% 138.83% 142.23% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 27.89% 30.19% 35.64% 20.57% 18.29% 18.86% 22.04% 23.32% 16.08% 16.53% 20.28%
Return on Invested Capital (ROIC)		 7.80% 8.17% 7.03% 8.84% 9.05% 9.31% 11.30% 9.67% 4.66% 4.10% 8.44%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.80% 8.17% 7.03% 8.84% 9.05% 9.31% 11.30% 9.67% 4.66% 4.10% 8.44%
Return on Net Nonoperating Assets (RNNOA)		 1.70% 1.48% 1.13% 1.06% 0.49% 0.19% 0.16% 1.14% 2.21% 1.90% 1.51%
Return on Equity (ROE)		 9.51% 9.64% 8.16% 9.90% 9.54% 9.49% 11.46% 10.81% 6.87% 6.00% 9.95%
Cash Return on Invested Capital (CROIC)		 7.46% 8.26% 4.64% 13.93% 6.36% -0.52% 12.11% 20.98% -33.29% 26.08% 5.07%
Operating Return on Assets (OROA)		 1.58% 1.67% 1.12% 1.06% 1.32% 1.25% 1.49% 1.18% 0.60% 0.57% 1.12%
Return on Assets (ROA)		 1.14% 1.17% 1.00% 1.20% 1.08% 1.02% 1.16% 0.90% 0.50% 0.48% 0.89%
Return on Common Equity (ROCE)		 9.51% 9.64% 8.16% 9.90% 9.54% 9.49% 11.46% 10.81% 6.87% 6.00% 9.95%
Return on Equity Simple (ROE_SIMPLE)		 9.31% 9.53% 8.02% 9.84% 9.17% 9.00% 11.51% 12.94% 6.52% 5.85% 9.15%
Net Operating Profit after Tax (NOPAT)		 15 16 14 17 17 19 24 19 11 10 19
NOPAT Margin		 31.79% 32.78% 32.42% 38.97% 31.91% 28.79% 35.94% 30.66% 20.09% 18.64% 28.47%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 44.91% 45.76% 52.88% 56.05% 50.72% 48.58% 48.03% 53.13% 63.10% 65.09% 54.55%
Operating Expenses to Revenue		 53.59% 51.95% 60.12% 64.05% 58.51% 55.83% 55.04% 61.41% 74.60% 76.59% 62.74%
Earnings before Interest and Taxes (EBIT)		 21 23 15 15 21 23 31 25 13 12 24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 26 27 20 19 24 27 36 30 17 16 26
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 1.34 1.12 1.05 1.32 0.87 0.93 1.30 1.09 0.84 0.97
Price to Tangible Book Value (P/TBV)		 0.00 1.40 1.17 1.13 1.44 0.94 1.00 1.43 1.19 0.91 1.04
Price to Revenue (P/Rev)		 0.00 4.59 4.53 4.16 4.58 2.79 2.91 3.07 3.35 2.67 3.03
Price to Earnings (P/E)		 0.00 14.01 13.97 10.69 14.36 9.68 8.09 10.02 16.69 14.30 10.64
Dividend Yield		 4.62% 3.50% 4.23% 4.76% 3.55% 4.95% 4.84% 4.98% 5.38% 6.22% 3.51%
Earnings Yield		 0.00% 7.14% 7.16% 9.36% 6.96% 10.33% 12.36% 9.98% 5.99% 6.99% 9.40%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.97 0.75 0.75 0.56 0.06 0.43 1.01 0.82 0.39 0.40
Enterprise Value to Revenue (EV/Rev)		 0.00 3.89 3.51 3.21 2.01 0.19 1.36 3.02 4.22 1.56 1.37
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 6.87 7.56 7.53 4.53 0.46 2.52 6.32 13.41 5.51 3.49
Enterprise Value to EBIT (EV/EBIT)		 0.00 8.29 9.69 9.30 5.15 0.53 2.95 7.55 17.62 7.00 3.83
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 11.87 10.84 8.23 6.30 0.66 3.78 9.84 20.99 8.39 4.80
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 8.72 7.88 6.76 5.37 0.42 2.97 8.94 11.82 5.99 4.28
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 11.73 16.41 5.22 8.97 0.00 3.53 4.54 0.00 1.32 7.98
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.20 0.17 0.16 0.08 0.03 0.01 0.01 0.26 0.67 0.27 0.10
Long-Term Debt to Equity		 0.20 0.17 0.16 0.08 0.03 0.01 0.01 0.26 0.67 0.27 0.10
Financial Leverage		 0.22 0.18 0.16 0.12 0.05 0.02 0.01 0.12 0.48 0.46 0.18
Leverage Ratio		 8.32 8.25 8.16 8.24 8.86 9.35 9.86 11.97 13.63 12.60 11.15
Compound Leverage Factor		 8.32 8.25 11.33 11.72 8.86 9.35 9.86 11.97 13.63 12.60 11.15
Debt to Total Capital		 16.36% 14.28% 13.43% 7.79% 2.60% 1.41% 1.42% 20.78% 40.01% 21.18% 9.31%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 16.36% 14.28% 13.43% 7.79% 2.60% 1.41% 1.42% 20.78% 40.01% 21.18% 9.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 83.64% 85.72% 86.57% 92.21% 97.40% 98.59% 98.58% 79.22% 59.99% 78.82% 90.69%
Debt to EBITDA		 1.22 1.01 1.35 0.79 0.21 0.11 0.08 1.30 6.53 3.02 0.82
Net Debt to EBITDA		 -0.75 -1.24 -2.19 -2.25 -5.78 -6.27 -2.87 -0.11 2.75 -3.89 -4.24
Long-Term Debt to EBITDA		 1.22 1.01 1.35 0.79 0.21 0.11 0.08 1.30 6.53 3.02 0.82
Debt to NOPAT		 2.10 1.75 1.93 0.86 0.29 0.16 0.13 2.03 10.22 4.60 1.12
Net Debt to NOPAT		 -1.30 -2.14 -3.13 -2.46 -8.06 -9.02 -4.31 -0.18 4.31 -5.92 -5.84
Long-Term Debt to NOPAT		 2.10 1.75 1.93 0.86 0.29 0.16 0.13 2.03 10.22 4.60 1.12
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 14 16 9.05 27 12 -1.06 26 42 -77 65 11
Operating Cash Flow to CapEx		 1,029.90% 7,998.67% 4,070.30% 3,371.92% 2,599.00% 2,378.86% 1,625.93% 776.84% 392.46% 4,798.32% 3,323.83%
Free Cash Flow to Firm to Interest Expense		 3.43 3.85 1.62 3.53 1.11 -0.13 5.71 5.04 -2.61 1.73 0.36
Operating Cash Flow to Interest Expense		 5.41 5.18 3.38 2.72 1.85 3.67 6.79 2.56 0.65 0.38 0.68
Operating Cash Flow Less CapEx to Interest Expense		 4.88 5.11 3.29 2.64 1.78 3.51 6.38 2.23 0.48 0.37 0.66
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.03 0.03 0.03 0.04 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 2.87 2.90 2.69 2.80 3.20 3.72 3.82 3.46 2.60 2.48 3.15
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 193 193 197 187 193 212 211 188 276 222 229
Invested Capital Turnover		 0.25 0.25 0.22 0.23 0.28 0.32 0.31 0.32 0.23 0.22 0.30
Increase / (Decrease) in Invested Capital		 0.65 -0.19 4.65 -9.79 5.11 20 -1.71 -23 88 -55 7.59
Enterprise Value (EV)		 0.00 187 148 140 108 12 90 190 227 86 91
Market Capitalization		 0.00 220 191 182 247 182 194 193 180 146 202
Book Value per Share		 $17.32 $17.73 $18.34 $18.57 $20.34 $22.96 $22.85 $16.58 $18.44 $19.43 $23.38
Tangible Book Value per Share		 $16.45 $16.86 $17.50 $17.23 $18.60 $21.26 $21.21 $14.98 $16.90 $17.93 $21.89
Total Capital		 193 193 197 187 193 212 211 188 276 222 229
Total Debt		 32 28 27 15 5.00 3.00 3.00 39 111 47 21
Total Long-Term Debt		 32 28 27 15 5.00 3.00 3.00 39 111 47 21
Net Debt		 -19 -34 -43 -42 -139 -170 -103 -3.43 47 -60 -111
Capital Expenditures (CapEx)		 2.20 0.27 0.46 0.61 0.78 1.25 1.87 2.73 4.89 0.30 0.64
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 32 28 27 15 5.00 3.00 3.00 39 111 47 21
Total Depreciation and Amortization (D&A)		 4.97 4.64 4.30 3.54 2.91 3.89 5.27 4.89 4.04 3.30 2.32
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.61 $1.69 $1.47 $1.83 $1.86 $2.06 $2.62 $2.14 $1.20 $1.14 $2.14
Adjusted Weighted Average Basic Shares Outstanding		 9.31M 9.31M 9.31M 9.24M 9.22M 9.12M 9.09M 8.99M 8.99M 8.92M 8.86M
Adjusted Diluted Earnings per Share		 $1.61 $1.69 $1.47 $1.83 $1.86 $2.06 $2.62 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 9.31M 9.31M 9.31M 9.24M 9.22M 9.12M 9.09M 8.99M 8.99M 8.92M 8.86M
Adjusted Basic & Diluted Earnings per Share		 $1.61 $1.69 $1.47 $1.83 $1.86 $2.06 $2.62 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 9.31M 9.31M 9.31M 9.24M 9.22M 9.12M 9.09M 8.99M 8.99M 8.92M 8.86M
Normalized Net Operating Profit after Tax (NOPAT)		 15 16 14 17 17 19 24 19 11 10 19
Normalized NOPAT Margin		 31.79% 32.78% 32.42% 39.38% 31.91% 28.79% 35.94% 30.66% 20.09% 18.64% 28.47%
Pre Tax Income Margin		 44.08% 46.96% 50.37% 49.06% 39.05% 35.49% 46.10% 39.98% 23.94% 22.33% 35.71%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.98 5.45 2.75 1.98 1.93 2.87 6.84 3.03 0.43 0.33 0.76
NOPAT to Interest Expense		 3.59 3.81 2.45 2.24 1.57 2.33 5.33 2.32 0.36 0.27 0.61
EBIT Less CapEx to Interest Expense		 4.45 5.39 2.66 1.90 1.85 2.71 6.42 2.70 0.27 0.32 0.74
NOPAT Less CapEx to Interest Expense		 3.06 3.74 2.37 2.16 1.50 2.17 4.91 1.99 0.20 0.26 0.58
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 48.37% 49.11% 59.14% 63.48% 51.09% 48.13% 39.26% 50.15% 89.78% 88.88% 37.38%
Augmented Payout Ratio		 48.37% 49.11% 59.14% 66.14% 61.61% 58.70% 42.23% 62.07% 89.78% 95.77% 46.23%

Quarterly Metrics And Ratios for Ames National

This table displays calculated financial ratios and metrics derived from Ames National's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 8,992,167.00 8,992,167.00 8,992,167.00 8,992,167.00 8,992,167.00 - 8,915,557.00 8,915,557.00 8,898,689.00 8,892,167.00 8,857,220.00
DEI Adjusted Shares Outstanding		 8,992,167.00 8,992,167.00 8,992,167.00 8,992,167.00 8,992,167.00 - 8,915,557.00 8,915,557.00 8,898,689.00 8,892,167.00 8,857,220.00
DEI Earnings Per Adjusted Shares Outstanding		 0.33 0.24 0.26 0.24 0.25 - 0.39 0.51 0.51 0.73 0.67
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -18.18% -13.18% -6.03% -0.93% 3.38% 11.30% 18.18% 19.39% 22.93% 26.65% 17.81%
EBITDA Growth		 -44.04% -47.63% -26.77% -15.24% -25.73% 49.42% 38.63% 83.75% 84.93% 68.13% 57.07%
EBIT Growth		 -49.57% -54.95% -29.68% -14.96% -25.76% 74.99% 55.77% 119.39% 118.63% 90.83% 81.50%
NOPAT Growth		 -47.25% -51.52% -27.93% -14.59% -24.18% 64.24% 49.44% 106.55% 105.64% 85.43% 73.10%
Net Income Growth		 -47.25% -51.52% -27.93% -14.59% -24.18% 64.24% 49.44% 106.55% 105.64% 85.43% 73.10%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 -37.41% 2.60% -78.94% -2.16% 32.38% -7.09% 420.32% 3.11% -11.23% 25.54% 17.46%
Free Cash Flow Firm Growth		 -256.70% -418.92% 72.50% 102.28% 86.23% 167.70% 354.34% 1,565.67% 501.50% -101.84% -102.36%
Invested Capital Growth		 53.34% 46.84% 7.66% 0.06% 5.51% -19.80% -14.45% -11.58% -15.91% 3.42% 3.16%
Revenue Q/Q Growth		 -4.17% 1.55% -1.27% 3.12% -0.01% 9.33% 4.83% 4.17% 2.96% 12.65% -2.48%
EBITDA Q/Q Growth		 12.94% -24.40% 3.33% -3.92% -1.05% 52.11% -4.13% 27.34% -0.41% 38.29% -10.44%
EBIT Q/Q Growth		 16.55% -29.59% 9.72% -5.55% 1.75% 65.95% -2.33% 33.02% 1.40% 44.85% -7.10%
NOPAT Q/Q Growth		 14.35% -26.85% 7.71% -5.21% 1.51% 58.46% -1.99% 31.02% 1.06% 42.88% -8.50%
Net Income Q/Q Growth		 14.35% -26.85% 7.71% -5.21% 1.51% 58.46% -1.99% 31.02% 1.06% 42.88% -8.50%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 -41.15% 173.09% -78.60% 184.50% -20.38% 91.67% 19.83% -43.62% -31.45% 171.07% 12.12%
Free Cash Flow Firm Q/Q Growth		 4.48% -1.27% 81.53% 112.78% -676.16% 597.87% -30.61% -16.32% 38.88% -102.29% 11.17%
Invested Capital Q/Q Growth		 -0.10% 9.42% -7.44% -1.11% 5.34% -16.82% -1.26% 2.20% 0.18% 2.30% -1.52%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 34.99% 26.05% 27.26% 25.40% 25.14% 34.97% 31.98% 39.09% 37.82% 46.42% 42.64%
EBIT Margin		 26.98% 18.71% 20.79% 19.04% 19.38% 29.41% 27.40% 34.99% 34.46% 44.31% 42.22%
Profit (Net Income) Margin		 22.41% 16.14% 17.61% 16.19% 16.43% 23.82% 22.27% 28.01% 27.49% 34.87% 32.72%
Tax Burden Percent		 83.04% 86.28% 84.71% 85.01% 84.81% 80.98% 81.26% 80.04% 79.77% 78.69% 77.50%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 16.96% 13.72% 15.29% 14.99% 15.19% 19.02% 18.74% 19.96% 20.23% 21.31% 22.50%
Return on Invested Capital (ROIC)		 6.00% 3.74% 3.78% 3.38% 3.38% 5.24% 5.37% 7.03% 7.05% 10.34% 10.24%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.00% 3.74% 3.78% 3.38% 3.38% 5.24% 5.37% 7.03% 7.05% 10.34% 10.24%
Return on Net Nonoperating Assets (RNNOA)		 2.82% 1.78% 1.97% 1.92% 1.93% 2.43% 1.94% 2.28% 1.96% 1.85% 1.42%
Return on Equity (ROE)		 8.82% 5.52% 5.75% 5.31% 5.31% 7.67% 7.31% 9.30% 9.01% 12.18% 11.66%
Cash Return on Invested Capital (CROIC)		 -35.84% -33.29% -3.35% 3.72% -1.95% 26.08% 20.36% 18.04% 23.82% 5.07% 6.58%
Operating Return on Assets (OROA)		 0.71% 0.47% 0.50% 0.47% 0.48% 0.75% 0.72% 0.99% 1.02% 1.39% 1.36%
Return on Assets (ROA)		 0.59% 0.41% 0.43% 0.40% 0.41% 0.61% 0.58% 0.79% 0.82% 1.09% 1.05%
Return on Common Equity (ROCE)		 8.82% 5.52% 5.75% 5.31% 5.31% 7.67% 7.31% 9.30% 9.01% 12.18% 11.66%
Return on Equity Simple (ROE_SIMPLE)		 8.93% 0.00% 5.99% 5.72% 4.82% 0.00% 6.20% 7.09% 7.99% 0.00% 10.38%
Net Operating Profit after Tax (NOPAT)		 2.92 2.14 2.30 2.18 2.22 3.51 3.44 4.51 4.56 6.51 5.96
NOPAT Margin		 22.41% 16.14% 17.61% 16.19% 16.43% 23.82% 22.27% 28.01% 27.49% 34.87% 32.72%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 64.23% 64.75% 67.48% 66.76% 65.45% 61.11% 57.36% 55.71% 54.03% 51.68% 51.64%
Operating Expenses to Revenue		 75.12% 75.59% 77.92% 79.61% 77.87% 71.47% 66.38% 64.34% 61.76% 59.22% 59.69%
Earnings before Interest and Taxes (EBIT)		 3.52 2.48 2.72 2.57 2.61 4.34 4.24 5.64 5.72 8.28 7.69
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 4.57 3.45 3.57 3.43 3.39 5.16 4.95 6.30 6.27 8.67 7.77
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.95 1.09 1.04 1.05 0.86 0.84 0.82 0.82 0.90 0.97 1.20
Price to Tangible Book Value (P/TBV)		 1.05 1.19 1.14 1.15 0.92 0.91 0.89 0.88 0.96 1.04 1.29
Price to Revenue (P/Rev)		 2.50 3.35 3.26 3.33 2.94 2.67 2.63 2.65 2.86 3.03 3.59
Price to Earnings (P/E)		 10.67 16.69 17.41 18.41 17.73 14.30 13.22 11.60 11.23 10.64 11.60
Dividend Yield		 6.96% 5.38% 5.62% 5.52% 6.19% 6.22% 5.58% 4.88% 3.96% 3.51% 2.98%
Earnings Yield		 9.38% 5.99% 5.74% 5.43% 5.64% 6.99% 7.56% 8.62% 8.91% 9.40% 8.62%
Enterprise Value to Invested Capital (EV/IC)		 0.58 0.82 0.56 0.76 0.66 0.39 0.08 0.39 0.40 0.40 0.64
Enterprise Value to Revenue (EV/Rev)		 2.61 4.22 2.72 3.63 3.28 1.56 0.30 1.46 1.42 1.37 2.08
Enterprise Value to EBITDA (EV/EBITDA)		 7.25 13.41 9.21 12.79 12.63 5.51 1.03 4.41 3.95 3.49 4.98
Enterprise Value to EBIT (EV/EBIT)		 9.15 17.62 12.26 17.00 16.84 7.00 1.27 5.19 4.50 3.83 5.29
Enterprise Value to NOPAT (EV/NOPAT)		 11.12 20.99 14.51 20.10 19.76 8.39 1.53 6.38 5.59 4.80 6.71
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.65 11.82 10.23 13.72 11.85 5.99 0.87 4.33 4.52 4.28 6.40
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 20.42 0.00 1.32 0.36 2.03 1.53 7.98 9.88
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.72 0.67 0.55 0.51 0.45 0.27 0.20 0.16 0.12 0.10 0.09
Long-Term Debt to Equity		 0.72 0.67 0.55 0.51 0.45 0.27 0.20 0.16 0.12 0.10 0.09
Financial Leverage		 0.47 0.48 0.52 0.57 0.57 0.46 0.36 0.32 0.28 0.18 0.14
Leverage Ratio		 14.94 13.63 13.50 13.34 12.96 12.60 12.55 11.72 11.02 11.15 11.08
Compound Leverage Factor		 14.94 13.63 13.50 13.34 12.96 12.60 12.55 11.72 11.02 11.15 11.08
Debt to Total Capital		 41.94% 40.01% 35.29% 33.97% 31.18% 21.18% 16.36% 13.70% 10.49% 9.31% 8.06%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 41.94% 40.01% 35.29% 33.97% 31.18% 21.18% 16.36% 13.70% 10.49% 9.31% 8.06%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 58.06% 59.99% 64.71% 66.03% 68.82% 78.82% 83.64% 86.30% 89.51% 90.69% 91.94%
Debt to EBITDA		 5.28 6.53 5.78 5.72 6.01 3.02 2.12 1.55 1.04 0.82 0.63
Net Debt to EBITDA		 0.30 2.75 -1.84 1.07 1.30 -3.89 -7.85 -3.61 -3.98 -4.24 -3.63
Long-Term Debt to EBITDA		 5.28 6.53 5.78 5.72 6.01 3.02 2.12 1.55 1.04 0.82 0.63
Debt to NOPAT		 8.09 10.22 9.10 9.00 9.40 4.60 3.15 2.24 1.47 1.12 0.84
Net Debt to NOPAT		 0.46 4.31 -2.90 1.68 2.03 -5.92 -11.69 -5.22 -5.64 -5.84 -4.89
Long-Term Debt to NOPAT		 8.09 10.22 9.10 9.00 9.40 4.60 3.15 2.24 1.47 1.12 0.84
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -85 -86 -16 2.03 -12 58 40 34 47 -1.07 -0.95
Operating Cash Flow to CapEx		 183.18% 608.86% 2,137.50% 3,892.00% 4,625.37% 8,865.67% 3,650.26% 3,489.57% 2,723.76% 3,228.14% 2,064.44%
Free Cash Flow to Firm to Interest Expense		 -10.52 -9.67 -1.73 0.21 -1.21 6.38 4.93 4.22 6.02 -0.15 -0.14
Operating Cash Flow to Interest Expense		 0.29 0.72 0.15 0.40 0.32 0.65 0.87 0.50 0.35 1.01 1.23
Operating Cash Flow Less CapEx to Interest Expense		 0.13 0.60 0.14 0.39 0.31 0.64 0.84 0.49 0.34 0.98 1.17
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03
Fixed Asset Turnover		 2.79 2.60 2.50 2.46 2.44 2.48 2.62 2.76 2.93 3.15 3.28
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 253 276 256 253 266 222 219 224 224 229 226
Invested Capital Turnover		 0.27 0.23 0.21 0.21 0.21 0.22 0.24 0.25 0.26 0.30 0.31
Increase / (Decrease) in Invested Capital		 88 88 18 0.15 14 -55 -37 -29 -42 7.59 6.91
Enterprise Value (EV)		 146 227 144 192 175 86 17 87 90 91 145
Market Capitalization		 140 180 173 176 157 146 150 159 180 202 250
Book Value per Share		 $16.31 $18.44 $18.41 $18.58 $20.39 $19.43 $20.53 $21.65 $22.54 $23.38 $23.44
Tangible Book Value per Share		 $14.75 $16.90 $16.88 $17.06 $18.88 $17.93 $19.02 $20.15 $21.05 $21.89 $21.95
Total Capital		 253 276 256 253 266 222 219 224 224 229 226
Total Debt		 106 111 90 86 83 47 36 31 24 21 18
Total Long-Term Debt		 106 111 90 86 83 47 36 31 24 21 18
Net Debt		 5.99 47 -29 16 18 -60 -133 -71 -90 -111 -105
Capital Expenditures (CapEx)		 1.28 1.05 0.06 0.10 0.07 0.07 0.20 0.12 0.10 0.23 0.41
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 106 111 90 86 83 47 36 31 24 21 18
Total Depreciation and Amortization (D&A)		 1.05 0.97 0.85 0.86 0.78 0.82 0.71 0.66 0.56 0.39 0.08
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.33 $0.23 $0.26 $0.24 $0.25 $0.39 $0.39 $0.51 $0.51 $0.73 $0.67
Adjusted Weighted Average Basic Shares Outstanding		 8.99M 8.99M 8.99M 8.99M 8.99M 8.92M 8.92M 8.90M 8.89M 8.86M 8.86M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 8.99M 8.99M 8.99M 8.99M 8.99M 8.92M 8.92M 8.90M 8.89M 8.86M 8.86M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 8.99M 8.99M 8.99M 8.99M 8.99M 8.92M 8.92M 8.90M 8.89M 8.86M 8.86M
Normalized Net Operating Profit after Tax (NOPAT)		 2.92 2.14 2.30 2.18 2.22 3.51 3.44 4.51 4.56 6.51 5.96
Normalized NOPAT Margin		 22.41% 16.14% 17.61% 16.19% 16.43% 23.82% 22.27% 28.01% 27.49% 34.87% 32.72%
Pre Tax Income Margin		 26.98% 18.71% 20.79% 19.04% 19.38% 29.41% 27.40% 34.99% 34.46% 44.31% 42.22%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.44 0.28 0.30 0.27 0.27 0.48 0.52 0.70 0.73 1.12 1.13
NOPAT to Interest Expense		 0.36 0.24 0.25 0.23 0.23 0.38 0.42 0.56 0.58 0.88 0.88
EBIT Less CapEx to Interest Expense		 0.28 0.16 0.29 0.26 0.26 0.47 0.49 0.69 0.72 1.09 1.07
NOPAT Less CapEx to Interest Expense		 0.20 0.12 0.24 0.22 0.22 0.38 0.40 0.55 0.57 0.85 0.82
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 74.19% 89.78% 97.86% 101.69% 109.81% 88.88% 74.28% 56.91% 44.55% 37.38% 34.61%
Augmented Payout Ratio		 74.19% 89.78% 97.86% 101.69% 109.81% 95.77% 85.32% 68.12% 54.87% 46.23% 39.88%

Financials Breakdown Chart

Key Financial Trends

Ames National (NASDAQ: ATLO) delivered a solid start to 2026, with stronger profitability than the prior quarter and year-ago period, but the quarter also highlighted some balance sheet and funding mix shifts that investors should watch closely.

  • Net income improved to $6.0 million in Q1 2026, up from $5.96 million in Q1 2025 and well above $4.56 million in Q3 2025.
  • Pre-tax income rose to $7.7 million, supported by relatively stable revenue and controlled expenses.
  • Net interest income increased to $15.4 million from $14.0 million in Q3 2025, helped by higher interest income and lower interest expense.
  • Credit quality looked manageable with a $347,000 provision for credit losses, much lower than the $660,000 provision in Q4 2025.
  • Operating cash flow remained strong at $8.4 million, showing the bank is still generating healthy cash from core operations.
  • Quarterly EPS improved to $0.67 versus $0.51 in both Q2 and Q3 2025.
  • Book value remained supported by retained earnings, which increased to $199.8 million at March 31, 2026.
  • Total revenue was $18.2 million, up from $16.6 million in Q3 2025, but still below the stronger Q4 2025 level of $18.7 million.
  • Non-interest income was relatively modest at $2.8 million, so earnings still depend heavily on net interest income.
  • Deposits increased by $12.7 million during the quarter, which helped funding but also added to interest expense pressure over time.
  • Net cash fell by $8.6 million in Q1 2026, after a much stronger cash build in late 2025.
  • Interest-bearing deposits rose to $1.54 billion from $1.52 billion in Q3 2025, which may keep funding costs elevated.
  • Trading account securities declined to $689.4 million from $731.7 million at year-end 2025, suggesting some balance sheet repositioning.
  • Goodwill and intangible assets remain meaningful at roughly $13.1 million combined, adding some balance sheet leverage to watch.
  • Other assets remain very large at $1.30 billion, so the quality and composition of that asset base deserves attention.

Looking at the bigger picture, ATLO has shown steady profitability across the last four years, but results have been somewhat volatile quarter to quarter. Net income improved meaningfully from early 2024 levels, and the company has generally maintained positive operating cash flow. At the same time, the bank’s balance sheet is still large relative to equity, and funding costs have been a recurring pressure point.

For retail investors, the key takeaway is that ATLO appears profitable and cash-generative, but earnings quality will depend on whether it can keep deposit costs in check while protecting net interest margin. If credit costs stay contained and margins stabilize, the stock could continue to look fundamentally sound. If funding costs rise or investment/balance-sheet shifts continue, earnings growth may remain uneven.

07/09/26 01:19 AM ETAI Generated. May Contain Errors.

Ames National Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Ames National's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

The last 5 years of Ames National's net income performance:
  • 2021: $23.91 million
  • 2022: $19.29 million
  • 2023: $10.82 million
  • 2024: $10.22 million
  • 2025: $19.03 million
Find out what analysts predict for Ames National in the coming months.

Over the last 10 years, Ames National's total revenue changed from $45.67 million in 2014 to $66.83 million in 2025, a change of 46.3%.

Ames National's total liabilities were at $1.93 billion at the end of 2025, a 1.7% decrease from 2024, and a 65.2% increase since 2015.

In the past 10 years, Ames National's cash and equivalents has ranged from $19.53 million in 2024 to $34.62 million in 2019, and is currently $20.48 million as of their latest financial filing in 2025.

Over the last 10 years, Ames National's book value per share changed from 17.32 in 2015 to 23.38 in 2025, a change of 35.0%.


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Financial statements for NASDAQ:ATLO last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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