Mercantile Bank Corporation (MBWM)
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No price history available.
Key financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total net revenue | $m | 167 | 179 | 190 | 226 | 231 | 243 | 260 | - |
| Operating profit | $m | 102 | 111 | ||||||
| Net profit | $m | 44 | 59 | 61 | 82 | 80 | 89 | 95 | 90 |
| EPS reported | $ | 5.46 | 5.68 | ||||||
| Operating cashflow per share | $ | 1.11 | 4.19 | ||||||
| Capex per share | $ | 0.42 | 0.24 | ||||||
| FCF per share | $ | 0.69 | 3.95 | ||||||
| Free cash flow | $m | 11 | 68 | ||||||
| Net debt | $m | -750 | -508 | ||||||
| Book value equity | $m | 725 | 755 | ||||||
| Book value per share | $ | 44.57 | 43.76 | ||||||
| Number of shares | m | 16.26 | 17.26 | ||||||
| DPS (TTM paid) | $ | 1.50 | 1.56 |
Financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 8.81 | 10.45 | ||||||
| P/B LTM | x | 1.08 | 1.04 | ||||||
| P/S LTM | x | 3.22 | 3.01 | ||||||
| P/FCF LTM | x | 69.79 | 11.47 | ||||||
| EV/EBITDA LTM | x | 10.66 | 9.73 | ||||||
| EV/Sales LTM | x | 3.05 | 4.47 | ||||||
| Earnings Yield LTM | % | +11.35% | +9.57% | ||||||
| FCF Yield | % | +1.43% | +8.72% | ||||||
| Quality | |||||||||
| ROE | % | +12.24% | +13.25% | ||||||
| ROIC | % | +5.72% | +1.37% | ||||||
| Operating margin | % | +27.46% | +28.78% | ||||||
| Gross margin | % | +64.03% | +67.99% | ||||||
| FCF/Sales | % | +3.01% | +17.76% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +10.75% | +15.21% | ||||||
| Sales Growth YoY | % | +4.83% | +12.41% | ||||||
| Net Income Growth YoY | % | +11.51% | +19.62% | ||||||
| FCF Growth | % | -87.89% | -26.34% | ||||||
| Operating Profit Growth | % | +3.87% | +12.48% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | +3.06% | +2.50% | ||||||
| Dividend Growth | % | +5.63% | +9.86% | ||||||
| Payout Ratio | % | +26.97% | +26.72% | ||||||
| FCF/Debt | x | 0.01 | 0.10 | ||||||
| Net Debt/EBITDA | x | 3.31 | 5.61 | ||||||
| EBIT/Net interest | x | 0.79 | 0.89 | ||||||
| Net debt/market cap | % | +1.06% | +66.13% | ||||||
| Net debt/Equity | x | -1.03 | -0.67 | ||||||
| Gross debt/equity | x | 1.14 | 0.91 | ||||||
Price target estimates
Based on consensus from external analysts. Not Kvantra's opinion.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
ESG
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| ESG-score | |||
| Environmental score | |||
| Social score | |||
| Governance score | |||
| Risk rating |
Company overview
Mercantile Bank Corporation serves as the parent holding company for Mercantile Bank of Michigan, providing a full spectrum of commercial and personal banking solutions to small and mid-sized businesses, as well as individual customers, across the United States. The institution facilitates a diverse range of deposit offerings, including checking, savings, term certificates, time deposits, and certificates of deposit (CDs). Its extensive lending portfolio encompasses commercial and industrial financing; loans for vacant land, property development, and new home construction; mortgages for both owner-occupied and investment real estate (such as multi-family and rental properties); single-family residential loans; home equity lines of credit (HELOCs); and various consumer loans, including funding for new and pre-owned vehicles, watercraft, credit cards, and overdraft protection, alongside residential mortgage and installment options. Beyond core banking, Mercantile Bank supplies additional conveniences like courier services and secure deposit boxes. It also markets a comprehensive array of insurance policies, such as coverage for private auto, homeowners, personal inland marine, boat owners, recreational vehicles, dwelling fire, umbrella liability, small business needs, and life insurance. The bank's infrastructure further includes 22 automated teller machines (ATMs) and 19 video banking machines. As of January 18, 2022, the company maintained 44 branch locations. Established in 1997, Mercantile Bank Corporation's main office is situated in Grand Rapids, Michigan.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
Mercantile Bank Corporation (MBWM)
No price history available.
Consensus from external analysts. Not Kvantra's opinion.
Based on consensus from external analysts. Not Kvantra's opinion.
Mercantile Bank Corporation serves as the parent holding company for Mercantile Bank of Michigan, providing a full spectrum of commercial and personal banking solutions to small and mid-sized businesses, as well as individual customers, across the United States. The institution facilitates a diverse range of deposit offerings, including checking, savings, term certificates, time deposits, and certificates of deposit (CDs). Its extensive lending portfolio encompasses commercial and industrial financing; loans for vacant land, property development, and new home construction; mortgages for both owner-occupied and investment real estate (such as multi-family and rental properties); single-family residential loans; home equity lines of credit (HELOCs); and various consumer loans, including funding for new and pre-owned vehicles, watercraft, credit cards, and overdraft protection, alongside residential mortgage and installment options. Beyond core banking, Mercantile Bank supplies additional conveniences like courier services and secure deposit boxes. It also markets a comprehensive array of insurance policies, such as coverage for private auto, homeowners, personal inland marine, boat owners, recreational vehicles, dwelling fire, umbrella liability, small business needs, and life insurance. The bank's infrastructure further includes 22 automated teller machines (ATMs) and 19 video banking machines. As of January 18, 2022, the company maintained 44 branch locations. Established in 1997, Mercantile Bank Corporation's main office is situated in Grand Rapids, Michigan.
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