Mercantile Bank Corporation (MBWM)

NASDAQ: MBWM · Real-Time Price · USD

59.41

+0.51 (0.87%)

At close: Oct 2, 2026, 4:00 PM EDT

59.50

+0.09 (0.15%)

After-hours: Oct 2, 2026, 7:30 PM EDT

Mercantile Bank Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	263.91	238.45	223.38	217.99	183.77	184.58
Revenue Growth	15.91%	6.75%	2.47%	18.62%	-0.44%	20.35%
Net Income	95.21	88.75	79.59	82.22	61.06	59.02
Earnings Per Share	5.68	5.47	4.93	5.13	3.85	3.69
EPS Growth	12.95%	10.87%	-3.90%	33.25%	4.34%	36.16%

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	357.85	496.54	419.8	158.04	122.95	979.77
Total Debt	709.53	756.61	679.7	867.92	670.07	701.01
Net Cash (Debt)	-351.68	-260.07	-259.9	-709.89	-547.12	278.76
Net Cash Growth	-	-	-	-	-	322.02%
Net Cash Per Share	-20.99	-16.02	-16.11	-44.32	-34.50	17.44

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	72.33	17.97	101.12	66.61	119.86	64.57
Capital Expenditures	-4.13	-6.76	-8.53	-6.69	-3.02	-5.6
Free Cash Flow	68.2	11.21	92.59	59.93	116.85	58.97
Free Cash Flow Growth	120.78%	-87.89%	54.50%	-48.71%	98.14%	104.14%

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Profit Margin	36.08%	37.22%	35.63%	37.72%	33.23%	31.97%
FCF Margin	25.84%	4.70%	41.45%	27.49%	63.58%	31.95%

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 3, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	1.560	1.500	1.420	1.340	1.260	1.180
Dividend Per Share Growth	5.41%	5.63%	5.97%	6.35%	6.78%	5.36%
Dividend Yield	2.63%	3.19%	3.37%	3.62%	4.29%	3.98%

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 3, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	10.46	8.81	9.02	7.87	8.70	9.30
Forward PE	10.80	8.91	10.01	8.87	7.29	11.65
P/FCF Ratio	15.06	69.75	7.76	10.80	4.55	9.31
PS Ratio	3.89	3.28	3.22	2.97	2.89	2.97