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	Jan 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Capitalization	893	782	718	647	531	549
Market Cap Growth	24.66%	8.86%	10.98%	21.81%	-3.23%	24.46%
Last Close Price	51.98	48.10	43.07	37.77	30.02	30.27
PE Ratio	9.51	8.81	9.02	7.87	8.70	9.30
PS Ratio	3.54	3.28	3.21	2.97	2.89	2.97
PB Ratio	1.23	1.08	1.23	1.24	1.20	1.20
P/FCF Ratio	-	-	7.76	10.80	4.55	9.31
P/OCF Ratio	-	-	7.10	9.71	4.43	8.50
Debt / Equity Ratio	1.01	1.01	1.16	1.66	1.52	1.54
Debt / FCF Ratio	-	-	7.34	14.48	5.74	11.89
Return on Equity (ROE)	13.56%	13.56%	14.38%	17.07%	13.60%	13.14%
Return on Assets (ROA)	1.38%	1.38%	1.40%	1.61%	1.21%	1.22%
Earnings Yield	9.94%	11.35%	11.08%	12.71%	11.49%	10.75%
FCF Yield	-	-	12.89%	9.26%	22.00%	10.74%
Dividend Yield	3.00%	3.12%	3.30%	3.55%	4.20%	3.90%
Payout Ratio	27.81%	-	28.23%	25.55%	32.10%	31.39%
Buyback Yield / Dilution	-0.66%	-0.66%	-0.72%	-0.98%	0.80%	1.73%
Total Shareholder Return	2.34%	2.45%	2.58%	2.57%	4.99%	5.63%

Updated Jan 20, 2026. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q