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Mercantile Bank Corporation

Data quality: 100%
MBWM
NASDAQ Financial Services Banks - Regional
$50.28
▲ $1.64 (3.37%)
Mkt Cap: 868.48M
Day Range
$49.60 $51.28
52-Week Range
$37.76 $55.77
Volume
135,092
50D / 200D Avg
$51.81 / $47.90
Prev Close
$48.64

Price History

Financial Trends

Peer Comparison

vs Financial Services sector median (854 peers)

Metric Stock Sector Median
P/E 9.8 10.3
P/B 1.2 1.1
ROE % 13.6 11.7
Net Margin % 23.9 16.8
Rev Growth 5Y % 17.0 11.7
D/E 1.1 0.5

Key Takeaways

Revenue grew 16.96% annually over 5 years — strong growth
ROE of 13.56% — decent returns on equity
Net margin of 23.87% shows strong profitability
Generating 11.21M in free cash flow
P/E of 9.79 — trading at a low valuation
PEG of 0.82 suggests growth is underpriced

Growth

Revenue Growth (5Y)
16.96%
Revenue (1Y)2.74%
Earnings (1Y)11.51%
FCF Growth (3Y)-56.75%

Quality

Return on Equity
13.56%
ROIC4.94%
Net Margin23.87%
Op. Margin27.46%

Safety

Debt / Equity
1.14
Current Ratio0.29
Interest Coverage0.79

Valuation

P/E Ratio
9.79
P/B Ratio1.20
EV/EBITDA11.96
Dividend Yield0.03%

All Fundamental Metrics

Growth
Revenue Growth (1Y) 2.74% Revenue Growth (3Y) 10.68%
Earnings Growth (1Y) 11.51% Earnings Growth (3Y) 3.90%
Revenue Growth (5Y) 16.96% Earnings Growth (5Y) 10.74%
Profitability
Revenue (TTM) 371.80M Net Income (TTM) 88.75M
ROE 13.56% ROA 1.30%
Gross Margin 64.03% Operating Margin 27.46%
Net Margin 23.87% Free Cash Flow (TTM) 11.21M
ROIC 4.94% FCF Growth (3Y) -56.75%
Safety
Debt / Equity 1.14 Current Ratio 0.29
Interest Coverage 0.79 Dividend Yield 0.03%
Valuation
P/E Ratio 9.79 P/B Ratio 1.20
P/S Ratio 2.34 PEG Ratio 0.82
EV/EBITDA 11.96 Dividend Yield 0.03%
Market Cap 868.48M Enterprise Value 1.22B

Income Statement

Annual, most recent first

Income statement data, annual, most recent first
Metric FY2025 FY2024 FY2023 FY2022 FY2021
Revenue 371.80M 361.89M 303.50M 213.92M 198.66M
Net Income 88.75M 79.59M 82.22M 61.06M 59.02M
EPS (Diluted) 5.46 4.93 5.13 3.85 3.69
Gross Profit 238.05M 224.08M 217.99M 183.77M 183.52M
Operating Income 102.09M 98.29M 102.70M 75.79M 73.72M

Balance Sheet

Annual, most recent first

Balance sheet data, annual, most recent first
Metric FY2025 FY2024 FY2023 FY2022 FY2021
Total Assets 6.84B 6.05B 5.35B 4.87B 5.26B
Total Liabilities 6.11B 5.47B 4.83B 4.43B 4.80B
Shareholders' Equity 724.88M 584.53M 522.15M 441.41M 456.56M
Total Debt 825.88M 648.25M 836.26M 640.19M 693.35M
Cash & Equivalents 473.32M 393.01M 130.53M 96.77M 975.16M
Current Assets 1.58B 1.12B 747.63M 699.71M 1.57B
Current Liabilities 5.52B 4.82B 4.13B 3.99B 4.31B