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 24, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Market Cap	878	826	718	651	536	555
Market Cap Growth	35.72%	15.04%	10.32%	21.59%	-3.49%	24.34%
Enterprise Value	989.41	967.08	858	789.77	673.1	676.76
Last Close Price	50.80	48.10	44.49	40.38	33.48	35.03
PE Ratio	9.10	8.79	9.02	7.87	8.70	9.49
Forward PE	9.15	8.91	10.01	8.87	7.29	11.65
PEG Ratio	-	1.62	1.62	1.62	1.62	1.62
PS Ratio	3.42	3.45	3.21	2.99	2.91	3.01
PB Ratio	1.19	1.14	1.23	1.25	1.21	1.22
P/TBV Ratio	1.14	1.08	1.23	1.24	1.20	1.23
P/FCF Ratio	-	73.73	7.76	10.87	4.58	9.41
P/OCF Ratio	-	45.98	7.10	9.78	4.47	8.59
EV/Sales Ratio	3.92	4.04	3.83	3.62	3.66	3.67
EV/EBITDA Ratio	-	166.83	81.68	68.70	52.00	49.97
EV/FCF Ratio	-	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	13.29	12.06	10.63	9.00
Debt / FCF Ratio	-	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	13.29	12.06	10.63	9.00
Net Debt / FCF Ratio	-	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)	12.57%	13.56%	14.38%	17.07%	13.60%	13.14%
Earnings Yield	10.62%	11.37%	11.08%	12.70%	11.50%	10.53%
FCF Yield	-	1.36%	12.89%	9.20%	21.82%	10.63%
Dividend Yield	3.08%	3.07%	3.13%	3.25%	3.69%	3.31%
Payout Ratio	27.65%	26.99%	28.23%	25.55%	32.10%	31.39%
Buyback Yield / Dilution	-2.15%	-0.67%	-0.72%	-0.98%	0.80%	1.73%
Total Shareholder Return	0.93%	2.40%	2.41%	2.27%	4.49%	5.04%

Updated Apr 21, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q