Stock fact sheet · data as of
Farmers National Banc Corp. (FMNB): fair value, margin of safety and Wheel Score
Ticker symbol FMNB · Financial Services · Banks - Regional · United States · Speculative Income
Is FMNB undervalued?
FMNB closed at 15.84 on 5 Nov 2026, 17% below the GLS average fair value of 19.07 from 9 models (6 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" Wheel Trade Filter, with room for a bigger discount on the Value part.
There is a wide gap between GLS Growth (4.59) and Graham Growth (42.50). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files FMNB under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan. It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for FMNB
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 20.04 | +26% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 18.07 | +14% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 42.50 | +168% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 16.73 | +6% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 4.59 | -71% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 25.65 | +62% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 20.80 | +31% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 10.15 | -36% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 13.09 | -17% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -78.78 | -597% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 17.00 | +7% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Farmers National Banc Corp. scores only 3 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 7.5/10 puts FMNB among the more durable businesses we track: over up to ten years its returns on capital have stayed high, its margins steady and its balance sheet sound.
Returns on capital are moderate - ROIC 6.4%, ROE 11.2%, ROA 1.0% - with debt at 0.76 times equity and a free-cash-flow yield of 6.5%.
The dividend yield is high at 4.36% (payout ratio 43%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Fiduciary and Trust 29%, Debit Card 24%, Deposit Account 23% (quarter Q2 FY2026).
Institutional ownership scores 7/10, insider activity 7/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | 6.4% |
|---|---|---|---|
| GLS Moat | 7.5 / 10 | ROE | 11.2% |
| Debt / equity | 0.76 | ROA | 1.0% |
| Free-cash-flow yield | 6.5% | Payout ratio | 43% |
| Institutions | 7 / 10 | Insiders · Congress | 7 · 5 / 10 |
Wheel Score 36: Weak
With a Wheel Score of 36 Farmers National Banc Corp. sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (66 open interest, 37 a day); and filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 3/9 (under 6); and filter 6, no serious red flags - Red Flags score 50 (under 60); and filter 8, big enough - market cap $938M (under $1.0B); Red Flags (weak) is its weakest part.
Implied volatility is 38% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 66 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 408k shares a day on a market cap of $938M, with a beta of 0.75 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (66 open interest, 37 a day) |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 3/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Fails | Red Flags score 50 (under 60) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $938M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Fair | 17% below fair value | |
| Premium | Strong | implied volatility 38% | |
| Moat | Good | moat 7.5/10 | |
| Health | Weak | Piotroski 3/9 | |
| Red Flags | Weak | Red Flags score 50/100 | |
| Option trading | Weak | 37 contracts a day, 66 open interest | |
| Stability | Fair | beta 0.75, $938M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 27 Jan 2027, 83 days away - outside the window of a 30-45-day put sold today.
Analysts downgraded FMNB 1 time in the last 30 days with no upgrades; the latest action was a downgrade by Raymond James on 2 Nov 2026.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to Farmers National Banc Corp. by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| THFF First Financial Corporation | 79.22 | 107.24 | +26% | 43Weak | $942M |
| NBBK NB Bancorp, Inc. Common Stock | 22.72 | 67.32 | +66% | 50Fair | $928M |
| GSBC Great Southern Bancorp, Inc. | 82.78 | 60.82 | -36% | 28Weak | $902M |
| ORRF Orrstown Financial Services, Inc. | 45.27 | 75.04 | +40% | 49Weak | $890M |
| TRST TrustCo Bank Corp NY | 58.10 | 46.28 | -26% | 38Weak | $989M |
| MPB Mid Penn Bancorp, Inc. | 35.03 | 46.59 | +25% | 47Weak | $887M |
| FCBC First Community Bankshares, Inc. | 46.87 | 49.31 | +5% | 35Weak | $887M |
| CCBG Capital City Bank Group, Inc. | 51.80 | 44.91 | -15% | 39Weak | $887M |
| HAFC Hanmi Financial Corporation | 33.70 | 60.97 | +45% | 53Fair | $994M |
| CPF Central Pacific Financial Corp. | 39.25 | 52.17 | +25% | 52Fair | $999M |
| SBNCM Southern BancShares (N.C.), Inc. | 11.50 | 5,641.63 | +100% | 26No options | $1.0B |
| SBNC Southern BancShares (N.C.), Inc. | 13,250.00 | 33,336.07 | +60% | 35No options | $1.0B |
⚖ Compare FMNB with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about FMNB
Is FMNB undervalued right now?
By the GLS models, moderately: at 15.84 the stock trades 17% below the average fair value of 19.07 (data as of 5 Nov 2026).
What is the Wheel Score of FMNB and what does it mean?
FMNB scores 36 out of 100 (Weak) - it fails Wheel Trade Filters 1, 2, 4, 6, 8. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for FMNB?
19.07 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Farmers National Banc Corp. report earnings next?
The next earnings report is due on 27 Jan 2027, 83 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does FMNB have listed options, and how liquid are they?
Yes. The nightly snapshot found 20 listed contracts with 66 open interest across all expiries and implied volatility of 38% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.