Mercantile Bank Corporation (MBWM)

Mercantile Bank Ratios and Metrics

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

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Oct 10, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Cap	719	718	651	536	555	446
Market Cap Growth	3.35%	10.32%	21.59%	-3.49%	24.34%	-25.50%
Enterprise Value	1,170	858	789.77	673.09	676.76	493.83
Last Close Price	44.25	44.49	40.38	33.48	35.03	27.17
PE Ratio	8.95	9.02	7.87	8.70	9.49	10.03
Forward PE	8.54	10.01	8.87	7.29	11.65	13.99
PEG Ratio	-	1.62	1.62	1.62	1.62	1.62
PS Ratio	3.19	3.21	2.99	2.91	3.01	2.91
PB Ratio	1.16	1.23	1.25	1.21	1.22	1.01
P/TBV Ratio	1.13	1.23	1.24	1.20	1.23	1.00
P/FCF Ratio	23.38	7.76	10.87	4.58	9.41	15.45
P/OCF Ratio	17.62	7.10	9.78	4.47	8.59	11.78
EV/Sales Ratio	5.12	3.83	3.62	3.66	3.67	3.22
EV/EBITDA Ratio	-	81.68	68.70	52.00	49.97	55.02
EV/FCF Ratio	37.87	9.27	13.18	5.76	11.48	17.09
Debt / Equity Ratio	0.22	0.24	0.27	0.31	0.27	0.11
Debt / EBITDA Ratio	17.33	13.29	12.06	10.63	9.00	5.30
Debt / FCF Ratio	3.56	1.51	2.31	1.18	2.07	1.65
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04
Return on Equity (ROE)	13.39%	14.38%	17.07%	13.60%	13.14%	10.29%
Earnings Yield	11.27%	11.08%	12.70%	11.50%	10.53%	9.97%
FCF Yield	4.28%	12.89%	9.20%	21.82%	10.63%	6.47%
Dividend Yield	3.38%	3.13%	3.25%	3.69%	3.31%	4.06%
Payout Ratio	29.42%	28.23%	25.55%	32.10%	31.39%	40.62%
Buyback Yield / Dilution	-0.11%	-0.12%	-0.14%	-0.18%	3.68%	1.28%
Total Shareholder Return	3.26%	3.01%	3.10%	3.51%	6.99%	5.34%

Updated Jul 22, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q