Middlefield Banc Corp Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Middlefield Banc Corp's revenue declined 5.6% year-over-year, from $71.9M to $67.9M. This contraction results in a growth score of 13/100.
Middlefield Banc Corp has elevated debt relative to equity (D/E of 7.80), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Middlefield Banc Corp converts 24.6% of revenue into free cash flow ($16.7M). This strong cash generation earns a score of 100/100.
Middlefield Banc Corp generates a 7.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 29/100. This is down from 8.4% the prior year.
Middlefield Banc Corp passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Middlefield Banc Corp generates $1.13 in operating cash flow ($17.5M OCF vs $15.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Middlefield Banc Corp (MBCN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Middlefield Banc Corp generated $67.9M in revenue in fiscal year 2024. This represents a decrease of 5.6% from the prior year.
Middlefield Banc Corp generated $16.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 21.5% from the prior year.
Middlefield Banc Corp reported $15.5M in net income in fiscal year 2024. This represents a decrease of 10.6% from the prior year.
Middlefield Banc Corp earned $1.92 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 10.3% from the prior year.
Middlefield Banc Corp paid $0.80 per share in dividends in fiscal year 2024. This represents a decrease of 1.2% from the prior year.
Middlefield Banc Corp had 8M shares outstanding in fiscal year 2024. This represents a decrease of 0.3% from the prior year.
Middlefield Banc Corp's net profit margin was 22.9% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.3 percentage points from the prior year.
Middlefield Banc Corp's ROE was 7.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the prior year.
Middlefield Banc Corp spent $1.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 76.6% from the prior year.
Middlefield Banc Corp invested $776K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 29.2% from the prior year.
MBCN Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $19.9M-3.1% | $20.5M+13.7% | $18.0M+3.3% | $17.5M+3.7% | $16.8M+0.5% | $16.8M+195.0% | $5.7M-75.4% | $23.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $10.0M+2.5% | $9.8M+4.5% | $9.4M-5.1% | $9.9M-6.0% | $10.5M+9.1% | $9.6M+10.7% | $8.7M+22.7% | $7.1M |
| Income Tax | $1.1M-11.0% | $1.2M+31.3% | $924K-7.1% | $995K+44.2% | $690K-10.3% | $769K+8.5% | $709K+0.9% | $703K |
| Net Income | $5.3M-13.6% | $6.2M+27.5% | $4.8M-0.4% | $4.8M+16.4% | $4.2M-0.1% | $4.2M+17.6% | $3.5M-7.6% | $3.8M |
| EPS (Diluted) | $0.65-14.5% | $0.76+26.7% | $0.600.0% | $0.60+15.4% | $0.52+2.0% | $0.51+15.9% | $0.44-6.4% | $0.47 |
MBCN Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B+2.8% | $1.9B+1.9% | $1.9B+1.9% | $1.9B+1.4% | $1.8B+0.6% | $1.8B-0.3% | $1.8B+1.6% | $1.8B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $36.4M0.0% | $36.4M0.0% | $36.4M0.0% | $36.4M0.0% | $36.4M0.0% | $36.4M0.0% | $36.4M+0.4% | $36.2M |
| Total Liabilities | $1.8B+2.7% | $1.7B+2.0% | $1.7B+1.9% | $1.6B+1.3% | $1.6B+0.6% | $1.6B-0.4% | $1.6B+1.1% | $1.6B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $224.1M+3.7% | $216.1M+1.1% | $213.8M+1.5% | $210.6M+1.8% | $206.8M+0.6% | $205.6M-0.1% | $205.7M+6.2% | $193.7M |
| Retained Earnings | $120.5M+3.1% | $116.9M+4.0% | $112.4M+2.9% | $109.3M+3.8% | $105.3M+2.5% | $102.8M+2.5% | $100.2M+1.5% | $98.7M |
MBCN Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.8M0.0% | $4.8M-39.8% | $8.0M+201.5% | $2.7M-20.9% | $3.4M-38.2% | $5.4M-29.7% | $7.7M+177.2% | $2.8M |
| Capital Expenditures | $1.4M+130.6% | $624K+128.6% | $273K-33.1% | $408K+292.3% | $104K+13.0% | $92K+142.1% | $38K-92.5% | $505K |
| Free Cash Flow | $3.4M-19.4% | $4.2M-45.7% | $7.7M+244.1% | $2.3M-30.9% | $3.3M-39.1% | $5.3M-30.6% | $7.7M+236.7% | $2.3M |
| Investing Cash Flow | -$17.9M+40.3% | -$30.0M-11.8% | -$26.8M-45.8% | -$18.4M-190.6% | -$6.3M+45.5% | -$11.6M+53.5% | -$25.0M+34.7% | -$38.2M |
| Financing Cash Flow | $43.9M+41.1% | $31.1M+4.2% | $29.9M+1375.5% | -$2.3M-126.1% | $9.0M+206.7% | -$8.4M-167.0% | $12.6M-70.0% | $41.9M |
| Dividends Paid | $1.7M+0.1% | $1.7M0.0% | $1.7M+5.0% | $1.6M+0.2% | $1.6M0.0% | $1.6M-20.3% | $2.0M+25.0% | $1.6M |
| Share Buybacks | $0 | $0 | $0 | $0 | $0-100.0% | $1.1M | $0 | $0 |
MBCN Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 26.8%-3.3pp | 30.0%+3.2pp | 26.8%-1.0pp | 27.8%+3.0pp | 24.7%-0.1pp | 24.9%-37.5pp | 62.4%+45.7pp | 16.6% |
| Return on Equity | 2.4%-0.5pp | 2.9%+0.6pp | 2.3%-0.0pp | 2.3%+0.3pp | 2.0%-0.0pp | 2.0%+0.3pp | 1.7%-0.3pp | 2.0% |
| Return on Assets | 0.3%-0.1pp | 0.3%+0.1pp | 0.3%0.0pp | 0.3%+0.0pp | 0.2%0.0pp | 0.2%+0.0pp | 0.2%-0.0pp | 0.2% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 7.83-0.1 | 7.91+0.1 | 7.83+0.0 | 7.80-0.0 | 7.840.0 | 7.84-0.0 | 7.86-0.4 | 8.26 |
| FCF Margin | 17.0%-3.5pp | 20.5%-22.4pp | 42.9%+30.0pp | 12.9%-6.5pp | 19.4%-12.6pp | 31.9%-103.6pp | 135.5%+125.6pp | 9.9% |
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Frequently Asked Questions
What is Middlefield Banc Corp's annual revenue?
Middlefield Banc Corp (MBCN) reported $67.9M in total revenue for fiscal year 2024. This represents a -5.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Middlefield Banc Corp's revenue growing?
Middlefield Banc Corp (MBCN) revenue declined by 5.6% year-over-year, from $71.9M to $67.9M in fiscal year 2024.
Is Middlefield Banc Corp profitable?
Yes, Middlefield Banc Corp (MBCN) reported a net income of $15.5M in fiscal year 2024, with a net profit margin of 22.9%.
What is Middlefield Banc Corp's earnings per share (EPS)?
Middlefield Banc Corp (MBCN) reported diluted earnings per share of $1.92 for fiscal year 2024. This represents a -10.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Middlefield Banc Corp's net profit margin?
Middlefield Banc Corp (MBCN) had a net profit margin of 22.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Middlefield Banc Corp pay dividends?
Yes, Middlefield Banc Corp (MBCN) paid $0.80 per share in dividends during fiscal year 2024.
What is Middlefield Banc Corp's return on equity (ROE)?
Middlefield Banc Corp (MBCN) has a return on equity of 7.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Middlefield Banc Corp's free cash flow?
Middlefield Banc Corp (MBCN) generated $16.7M in free cash flow during fiscal year 2024. This represents a -21.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Middlefield Banc Corp's operating cash flow?
Middlefield Banc Corp (MBCN) generated $17.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Middlefield Banc Corp's total assets?
Middlefield Banc Corp (MBCN) had $1.9B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Middlefield Banc Corp's capital expenditures?
Middlefield Banc Corp (MBCN) invested $776K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Middlefield Banc Corp buy back shares?
Yes, Middlefield Banc Corp (MBCN) spent $1.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Middlefield Banc Corp have outstanding?
Middlefield Banc Corp (MBCN) had 8M shares outstanding as of fiscal year 2024.
What is Middlefield Banc Corp's debt-to-equity ratio?
Middlefield Banc Corp (MBCN) had a debt-to-equity ratio of 7.80 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Middlefield Banc Corp's return on assets (ROA)?
Middlefield Banc Corp (MBCN) had a return on assets of 0.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Middlefield Banc Corp's Piotroski F-Score?
Middlefield Banc Corp (MBCN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Middlefield Banc Corp's earnings high quality?
Middlefield Banc Corp (MBCN) has an earnings quality ratio of 1.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Middlefield Banc Corp?
Middlefield Banc Corp (MBCN) scores 36 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.