Mercantile Bank Corporation (MBWM)

Mercantile Bank Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 2, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	889	826	718	651	536	555
Market Cap Growth	21.51%	15.04%	10.32%	21.59%	-3.49%	24.34%
Enterprise Value	1,149	967.08	858	789.77	673.09	676.76
Last Close Price	51.46	48.10	44.49	40.38	33.48	35.03
PE Ratio	9.41	8.79	9.02	7.87	8.70	9.49
Forward PE	9.19	8.91	10.01	8.87	7.29	11.65
PEG Ratio	-	1.62	1.62	1.62	1.62	1.62
PS Ratio	3.73	3.45	3.21	2.99	2.91	3.01
PB Ratio	1.22	1.14	1.23	1.25	1.21	1.22
P/TBV Ratio	1.15	1.08	1.23	1.24	1.20	1.23
P/FCF Ratio	79.30	73.73	7.76	10.87	4.58	9.41
P/OCF Ratio	49.46	45.98	7.10	9.78	4.47	8.59
EV/Sales Ratio	4.82	4.04	3.83	3.62	3.66	3.67
EV/EBITDA Ratio	-	166.82	81.68	68.70	52.00	49.97
EV/FCF Ratio	102.50	86.28	9.27	13.18	5.76	11.48
Debt / Equity Ratio	0.19	0.19	0.24	0.27	0.31	0.27
Debt / EBITDA Ratio	24.27	24.27	13.29	12.06	10.63	9.00
Debt / FCF Ratio	30.11	12.55	1.51	2.31	1.18	2.07
Net Debt / Equity Ratio	0.19	0.19	0.24	0.27	0.31	0.27
Net Debt / EBITDA Ratio	24.27	24.27	13.29	12.06	10.63	9.00
Net Debt / FCF Ratio	30.11	12.55	1.51	2.31	1.18	2.07
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04
Return on Equity (ROE)	13.56%	13.56%	14.38%	17.07%	13.60%	13.14%
Earnings Yield	9.98%	11.37%	11.08%	12.70%	11.50%	10.53%
FCF Yield	1.26%	1.36%	12.89%	9.20%	21.82%	10.63%
Dividend Yield	3.03%	3.07%	3.13%	3.25%	3.69%	3.31%
Payout Ratio	27.81%	26.99%	28.23%	25.55%	32.10%	31.39%
Buyback Yield / Dilution	-0.66%	-0.67%	-0.72%	-0.98%	0.80%	1.73%
Total Shareholder Return	2.37%	2.40%	2.41%	2.27%	4.49%	5.04%

Updated Jan 20, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q