Ames National (ATLO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ames National

NasdaqCM•Financial Services•Banks - Regional

$32.02+0.20(0.01%)Market open

Market Cap

$284.58M

P/E

12.4x

P/S

3.9x

P/B

1.3x

Ames National Corporation operates as a multi-bank holding company that provides banking products and services primarily in Boone, Clarke, Hancock, Marshall, Polk, Story, Taylor, and Union Counties in central, north-central, and south-central Iowa. It accepts various deposit products, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit. The company also provides loans, such as short-term and medium-term commercial, multi-family and agricultural real estate, residential real estate loans, equipment, vehicle, and home improvement loans; consumer loans to finance consumer purchases, such as automobiles, trucks, recreational vehicles, household furnishings, boats, personal loans, and lines of credit; agricultural and business operating loans and lines of credit; and originates mortgage loans for sale into the secondary market. In addition, it offers cash management, merchant credit card processing, safe deposit box, wire transfer, direct deposit, and automated/video teller machine access services; and automatic drafts for various accounts, as well as wealth management services. Further, it provides farm management, investment, and custodial services for individuals, businesses, and non-profit organizations; and online, mobile, and private banking services. Ames National Corporation was founded in 1903 and is headquartered in Ames, Iowa.

How this company scores

ExcellentMetricSide Score: 86/100

Strongest: Growth (25/25); weakest: Balance Sheet & Red Flags (18/25).

Profitability20/25

Growth25/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality23/25

Strengths

Growing revenueStrong marginsRising earningsLow leverage

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 12.4x5y range 8.9x – 19.3x

Currently near its 20-quarter median.

P/S · 3.9x5y range 2.7x – 3.9x

Currently above its 20-quarter median.

P/B · 1.3x5y range 0.8x – 1.5x

Price & Volume

Market Cap $284.58M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $72.73M
Q. Revenue: $18.88M
TTM EBITDA: $30.96M
TTM Op. Income: $29.39M
Q. Op. Income: $7.71M
TTM Net Income: $22.96M
Q. Net Income: $5.93M
EPS: $0.67
Shares Out.: $8.86M

$72.73M in TTM revenue grew 24.3% YoY, reaching $18.88M last quarter. TTM EBITDA of $30.96M and TTM operating income of $29.39M show growth is flowing through to the bottom line. TTM net income of $22.96M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 42.9%
Op. Margin: 40.8%
Net Margin: 31.4%

Op. margin of 40.8% is up 5.6% YoY — cost efficiency is improving. Net margin at 31.4% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 12.4x
P/S Ratio: 3.9x
P/B Ratio: 1.3x

At 12.4x P/E, the stock trades below typical market levels. P/S of 3.9x and P/B of 1.3x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.12B
Cash: $107.24M
Long-Term Debt: $16.50M
Book Value: $213.09M
D/E Ratio: 0.1
Debt/EBITDA: 2.0

With $2.12B in assets and $16.50M in long-term debt, D/E is 0.1and book value is $213.09M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $3.44M
TTM Free Cash Flow: $21.00M
FCF Margin: 28.9%
FCF / Net Income: 0.9

TTM FCF of $21.00M on $3.44M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 6% — a weakening trend.