What is Mercantile Bank Corp's earnings per share (EPS)?

Mercantile Bank Corp (MBWM) reported diluted earnings per share of $5.47 for fiscal year 2025. This represents a 11.0% 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.

Mercantile Bank Corp (MBWM) Financials

MBWM

Trailing 12 months to June 30, 2026

Revenue $260.8M +11.1% YoY

Net Income $95.2M +17.0% YoY

EPS (Diluted) $5.69 +13.1% YoY

Operating Cash Flow $72.3M +76.5% YoY

Market Cap $1.1B as of Sep 12, 2026

Price / Sales 4.1x on $260.8M revenue, trailing 12 months to June 30, 2026

Price / Earnings 11.2x on $95.2M net income, trailing 12 months to June 30, 2026

Price / Book 1.4x on $755.1M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MBWM SEC filings page.

Mercantile Bank Corp (MBWM) reported $260.8M in revenue over the twelve months to Jun 30, 2026, up 11.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI MBWM FY2025 2026-09-05

Balance-sheet expansion is Mercantile Bank’s dominant mechanic: capital grew faster than earnings while cash conversion weakened sharply.

In FY2025, net income reached $88.8M while operating cash flow was only $18.0M, so reported earnings did not translate into comparable cash generation; for a bank, that gap indicates balance-sheet movements are driving cash timing alongside profitability. The contrast is sharper than FY2024, when $79.6M of net income accompanied $101.1M of operating cash flow, making cash flow notably less aligned with earnings in the latest year.

Total assets expanded to $6.8B while equity reached $724.9M, showing that growth remains primarily funded through liabilities rather than retained capital alone. Debt-to-equity nevertheless improved from 9.4x to 8.4x, indicating a modestly stronger capital cushion relative to the balance sheet than in FY2024.

The net profit margin rose from 34.4% to 36.6%, but return on equity fell from 13.6% to 12.2%. That divergence means improved earnings efficiency did not overcome the faster expansion of the equity base, so the additional capital generated less return per dollar for shareholders.

Financial Health Signals

Financial Health Score 65/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Mercantile Bank Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings

Mercantile Bank Corp earned a return on assets of 1.3% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is unchanged from the prior year. Earnings ranks banks on that return over three years, and Mercantile Bank Corp scores 81/100 among other banks.

Growth

Mercantile Bank Corp reported revenue of $242.7M in fiscal year 2025, against $231.5M in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Mercantile Bank Corp scores 31/100 among other banks.

Capital

Mercantile Bank Corp funded 10.6% of its assets with shareholders' equity at the end of fiscal year 2025, holding $724.9M of equity against $6.8B of assets. Capital ranks banks on that cushion, and Mercantile Bank Corp scores 38/100 among other banks.

Efficiency

Efficiency measures what a bank spends running itself against the revenue that spending brings in, so a lower ratio is the better one. Mercantile Bank Corp scores 83/100 on it among other banks.

Credit Quality

Credit Quality measures the money a bank set aside for loans it expects to go bad, against the size of the loan book it set that money aside for. Mercantile Bank Corp scores 84/100 on it among other banks.

Stability

Mercantile Bank Corp reported net income of $88.8M in fiscal year 2025, against $79.6M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Mercantile Bank Corp scores 70/100 among other banks.

Piotroski F-Score Partial

2/6

Mercantile Bank Corp passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.20x

For every $1 of reported earnings, Mercantile Bank Corp generates $0.20 in operating cash flow ($18.0M OCF vs $88.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$68.8M

YoY+12.8%

QoQ+1.7%

5Y CAGR+8.6%

10Y CAGR+8.2%

Mercantile Bank Corp generated $68.8M in revenue in Q2 2026. This represents an increase of 12.8% from the same quarter a year earlier. Against the prior quarter it is up 1.7%.

Net Income

$25.9M

YoY+14.6%

QoQ+14.3%

5Y CAGR+7.5%

10Y CAGR+13.3%

Mercantile Bank Corp reported $25.9M in net income in Q2 2026. This represents an increase of 14.6% from the same quarter a year earlier. Against the prior quarter it is up 14.3%.

EPS (Diluted)

$1.50

YoY+7.9%

QoQ+13.6%

5Y CAGR+6.0%

10Y CAGR+12.5%

Mercantile Bank Corp earned $1.50 per diluted share (EPS) in Q2 2026. This represents an increase of 7.9% from the same quarter a year earlier. Against the prior quarter it is up 13.6%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Dividends Per Share

$0.39

YoY+5.4%

QoQ0.0%

5Y CAGR+6.1%

Mercantile Bank Corp paid $0.39 per share in dividends in Q2 2026. This represents an increase of 5.4% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

17M

YoY+6.4%

QoQ+0.1%

5Y CAGR+1.7%

10Y CAGR+0.6%

Mercantile Bank Corp had 17M shares outstanding in Q2 2026. This represents an increase of 6.4% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Free Cash Flow

Not reported for Q2 2026.

Cash & Debt

Not reported for Q2 2026.

Margins & Returns

Net Margin

37.7%

YoY+0.6pp

QoQ+4.1pp

5Y change-2.1pp

10Y change+13.9pp

Mercantile Bank Corp's net profit margin was 37.7% in Q2 2026, showing the share of revenue converted to profit. This is up 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.1 percentage points.

Return on Equity

3.4%

YoY-0.2pp

QoQ+0.3pp

5Y change-0.6pp

10Y change+1.3pp

Mercantile Bank Corp's ROE was 3.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

MBWM Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MBWM quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$260.8M	$242.7M+4.8%	$231.5M+2.6%	$225.7M+18.6%	$190.3M+5.6%	$180.3M+7.7%	$167.4M+10.5%	$151.5M+8.9%	$139.1M+8.0%	$128.7M+1.5%	$126.9M+8.3%	$117.2M+33.5%	$87.8M+61.6%	$54.3M-0.7%	$54.7M-6.5%	$58.5M
SG&A Expenses	$91.2M	$83.2M+6.8%	$77.9M+13.3%	$68.8M+5.6%	$65.1M-2.0%	$66.4M+11.1%	$59.8M+11.1%	$53.8M+5.7%	$50.9M+12.1%	$45.4M+4.3%	$43.5M+2.2%	$42.6M+26.4%	$33.7M+66.0%	$20.3M+4.8%	$19.4M+8.2%	$17.9M
Interest Expense	$123.8M	$129.2M-1.0%	$130.4M+67.6%	$77.8M+229.8%	$23.6M+21.4%	$19.4M-25.5%	$26.1M-22.9%	$33.8M+54.4%	$21.9M+38.6%	$15.8M+25.5%	$12.6M+12.9%	$11.2M-1.6%	$11.3M+5.1%	$10.8M-18.4%	$13.2M-33.4%	$19.8M
Income Tax	$16.7M	$14.7M-21.1%	$18.7M-8.7%	$20.5M+39.1%	$14.7M+0.2%	$14.7M+37.2%	$10.7M-2.7%	$11.0M+12.3%	$9.8M-33.8%	$14.8M-1.1%	$15.0M+26.8%	$11.8M+50.2%	$7.9M-2.8%	$8.1M+43.6%	$5.6M+120.6%	-$27.4M
Net Income	$95.2M	$88.8M+11.5%	$79.6M-3.2%	$82.2M+34.6%	$61.1M+3.5%	$59.0M+33.7%	$44.1M-10.8%	$49.5M+17.7%	$42.0M+34.4%	$31.3M-2.0%	$31.9M+18.1%	$27.0M+55.9%	$17.3M+1.7%	$17.0M+35.9%	$12.5M-66.6%	$37.5M
EPS (Basic)	N/A	$5.47+11.0%	$4.93-3.9%	$5.13+33.2%	$3.85+4.3%	$3.69+36.2%	$2.71-10.0%	$3.01+19.0%	$2.53+33.2%	$1.90-3.1%	$1.96+20.2%	$1.63+27.3%	$1.28-34.7%	$1.96+47.4%	$1.33-68.3%	$4.20
EPS (Diluted)	$5.69	$5.47+11.0%	$4.93-3.9%	$5.13+33.2%	$3.85+4.3%	$3.69+36.2%	$2.71-10.0%	$3.01+19.0%	$2.53+33.2%	$1.90-3.1%	$1.96+21.0%	$1.62+26.6%	$1.28	$1.95+50.0%	$1.30-68.1%	$4.07
Diluted Shares (Avg)	N/A	N/A	16M+0.7%	16M+1.0%	16M-0.8%	16M-1.7%	16M-0.9%	16M-1.2%	17M+0.7%	16M+1.1%	16M-2.0%	17M+22.9%	14M	9M-1.4%	9M-0.3%	9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$68.8M+12.8%	$67.6M+18.1%	$62.1M+6.0%	$62.4M+7.6%	$60.9M+7.4%	$57.3M-1.7%	$58.5M+2.8%	$58.0M-0.4%
SG&A Expenses	$24.6M+18.8%	$23.7M+21.1%	$21.8M+1.6%	$21.1M+4.0%	$20.7M+15.6%	$19.6M+7.2%	$21.5M+16.8%	$20.3M+17.6%
Interest Expense	$29.4M-9.4%	$29.5M-7.1%	$31.2M-8.5%	$33.6M-4.2%	$32.5M+2.1%	$31.8M+8.3%	$34.1M+35.7%	$35.1M+58.3%
Income Tax	$5.3M+57.1%	$4.6M+2.0%	$3.2M-11.0%	$3.7M-25.4%	$3.3M-29.3%	$4.5M-16.9%	$3.6M-30.4%	$4.9M-3.8%
Net Income	$25.9M+14.6%	$22.7M+16.1%	$22.8M+16.4%	$23.8M+21.1%	$22.6M+20.4%	$19.5M-9.4%	$19.6M-2.0%	$19.6M-5.9%
EPS (Basic)	$1.50+7.9%	$1.32+9.1%	$1.41+16.5%	$1.46+19.7%	$1.39+18.8%	$1.21-9.7%	$1.21-2.4%	$1.22-6.2%
EPS (Diluted)	$1.50+7.9%	$1.32+9.1%	$1.41+16.5%	$1.46+19.7%	$1.39+18.8%	$1.21-9.7%	$1.21-2.4%	$1.22-6.2%
Diluted Shares (Avg)	17M+6.4%	17M+6.4%	N/A	16M+0.7%	16M+0.7%	16M+0.5%	N/A	16M+0.7%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

MBWM Balance Sheet

MBWM quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$6.8B+12.9%	$6.1B+13.1%	$5.4B+9.9%	$4.9B-7.3%	$5.3B+18.5%	$4.4B+22.1%	$3.6B+8.0%	$3.4B+2.3%	$3.3B+6.6%	$3.1B+6.2%	$2.9B+0.4%	$2.9B+102.8%	$1.4B+0.3%	$1.4B-0.7%	$1.4B
Cash & Equivalents	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$136.0M+78.1%	$76.4M
Short-Term Investments	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Long-Term Investments	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Goodwill	$72.7M+46.9%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M	$0	N/A	N/A
Total Liabilities	$6.1B+11.8%	$5.5B+13.2%	$4.8B+9.0%	$4.4B-7.7%	$4.8B+20.2%	$4.0B+24.2%	$3.2B+7.6%	$3.0B+2.3%	$2.9B+6.5%	$2.7B+6.7%	$2.6B+0.2%	$2.6B+101.4%	$1.3B-0.2%	$1.3B+0.6%	$1.3B
Total Equity	$724.9M+24.0%	$584.5M+11.9%	$522.1M+18.3%	$441.4M-3.3%	$456.6M+3.4%	$441.6M+6.0%	$416.6M+11.0%	$375.2M+2.6%	$365.9M+7.4%	$340.8M+2.1%	$333.8M+1.7%	$328.1M+114.0%	$153.3M+4.6%	$146.6M-11.2%	$165.0M
Retained Earnings	$399.4M+19.4%	$334.6M+20.6%	$277.5M+28.3%	$216.3M+23.9%	$174.5M+30.2%	$134.0M+24.3%	$107.8M+42.9%	$75.5M+23.7%	$61.0M+49.1%	$40.9M+47.6%	$27.7M+171.3%	$10.2M+349.2%	-$4.1M+80.6%	-$21.1M+35.2%	-$32.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$6.8B+10.3%	$6.9B+13.1%	$6.8B+12.9%	$6.3B+6.6%	$6.2B+10.3%	$6.1B+12.4%	$6.1B+13.1%	$5.9B+12.7%
Goodwill	$73.7M+48.9%	$73.7M+48.9%	$72.7M+46.9%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%	$49.5M0.0%
Total Liabilities	$6.1B+9.3%	$6.2B+12.2%	$6.1B+11.8%	$5.7B+5.9%	$5.5B+9.9%	$5.5B+12.2%	$5.5B+13.2%	$5.3B+11.9%
Total Equity	$755.1M+19.6%	$736.9M+21.1%	$724.9M+24.0%	$657.6M+12.7%	$631.5M+14.6%	$608.3M+13.4%	$584.5M+11.9%	$583.3M+20.7%
Retained Earnings	$434.8M+19.1%	$415.5M+19.3%	$399.4M+19.4%	$382.7M+19.3%	$365.0M+19.0%	$348.3M+18.6%	$334.6M+20.6%	$320.7M+22.0%

Not reported in any period shown, so not listed: Current Assets, Cash & Equivalents, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

MBWM Cash Flow Statement

MBWM quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$72.3M	$18.0M-82.2%	$101.1M+51.8%	$66.6M-44.4%	$119.9M+85.6%	$64.6M+70.5%	$37.9M-15.4%	$44.8M-27.5%	$61.7M+59.7%	$38.7M+11.7%	$34.6M-3.9%	$36.0M+149.8%	$14.4M-49.7%	$28.7M+68.4%	$17.0M-24.3%	$22.5M
Depreciation & Amortization	N/A	$5.8M-44.8%	$10.5M-8.6%	$11.5M-11.2%	$12.9M-5.4%	$13.7M+45.1%	$9.4M-1.3%	$9.6M-2.2%	$9.8M-5.7%	$10.4M+8.2%	$9.6M-17.8%	$11.7M+53.1%	$7.6M+244.8%	$2.2M-1.3%	$2.2M+1.7%	$2.2M
Stock-Based Compensation	N/A	$3.5M+4.7%	$3.3M-2.0%	$3.4M+0.2%	$3.4M-10.8%	$3.8M+62.8%	$2.3M-20.7%	$2.9M+21.6%	$2.4M+21.7%	$2.0M+35.8%	$1.5M+113.3%	$684K-4.2%	$714K+51.0%	$473K+775.9%	$54K-11.5%	$61K
Investing Cash Flow	-$62.6M	-$105.7M+75.2%	-$425.4M-7.5%	-$395.9M+28.7%	-$555.0M-12.0%	-$495.5M-24.2%	-$398.8M-329.6%	-$92.8M+55.9%	-$210.5M-9.9%	-$191.5M-98.3%	-$96.6M-0.4%	-$96.2M-248.5%	$64.8M+621.5%	-$12.4M-118.6%	$66.7M-70.7%	$227.7M
Financing Cash Flow	$35.2M	$168.0M-71.4%	$586.8M+61.6%	$363.1M+181.9%	-$443.3M-156.8%	$780.1M+3.6%	$753.2M+264.8%	$206.4M+760.3%	$24.0M-85.8%	$169.3M+8.8%	$155.7M+787.3%	-$22.6M+57.6%	-$53.4M-907.4%	-$5.3M+78.0%	-$24.1M+89.9%	-$238.1M
Dividends Paid	$25.4M	$24.0M+6.6%	$22.5M+7.0%	$21.0M+7.2%	$19.6M+5.8%	$18.5M+3.3%	$17.9M+4.8%	$17.1M-37.8%	$27.5M+128.3%	$12.0M-35.7%	$18.7M+96.8%	$9.5M-61.1%	$24.5M+529.1%	$3.9M+402.5%	$774K	$0
Share Buybacks	N/A	N/A	N/A	$0	$0-100.0%	$21.4M+224.4%	$6.6M-8.2%	$7.2M+20.9%	$5.9M	$0-100.0%	$3.7M-76.3%	$15.8M	$0	$0	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$15.3M+295.6%	$28.3M+1051.2%	$5.6M-90.6%	$23.1M+385.6%	-$7.8M-185.7%	-$3.0M-107.4%	$59.9M+920.1%	-$8.1M-122.2%
Depreciation & Amortization	$2.4M+81.9%	$1.7M+3.0%	$1.4M-41.1%	$1.3M-13.3%	$1.3M-13.3%	$1.6M-40.6%	$2.4M-10.6%	$1.5M0.0%
Stock-Based Compensation	N/A	$971K+23.5%	N/A	N/A	N/A	$786K+5.9%	N/A	N/A
Investing Cash Flow	-$109.5M-14.9%	-$24.7M+69.8%	$8.0M+107.7%	$63.6M+141.4%	-$95.3M+38.7%	-$82.0M-522.9%	-$103.0M+48.2%	-$153.9M-197.5%
Financing Cash Flow	-$144.2M-1154.0%	$102.4M+32.2%	-$17.3M-116.1%	$94.2M-67.8%	$13.7M-87.2%	$77.5M-2.7%	$107.6M+52.1%	$292.9M+298.6%
Dividends Paid	$6.6M+12.4%	$6.6M+12.4%	$6.1M+6.5%	$6.1M+6.5%	$5.9M+6.7%	$5.9M+6.6%	$5.7M+6.7%	$5.7M+7.0%

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Share Buybacks.

MBWM Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

MBWM quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	36.6%+2.2pp	34.4%-2.0pp	36.4%+4.4pp	32.1%-0.7pp	32.7%+6.4pp	26.4%-6.3pp	32.6%+2.4pp	30.2%+5.9pp	24.3%-0.9pp	25.1%+2.1pp	23.1%+3.3pp	19.7%-11.6pp	31.4%+8.4pp	22.9%-41.1pp	64.1%
Return on Equity	12.2%-1.4pp	13.6%-2.1pp	15.8%+1.9pp	13.8%+0.9pp	12.9%+2.9pp	10.0%-1.9pp	11.9%+0.7pp	11.2%+2.6pp	8.6%-0.8pp	9.4%+1.3pp	8.1%+2.8pp	5.3%-5.8pp	11.1%+2.6pp	8.6%-14.2pp	22.7%
Return on Assets	1.3%0.0pp	1.3%-0.2pp	1.5%+0.3pp	1.3%+0.1pp	1.1%+0.1pp	1.0%-0.4pp	1.4%+0.1pp	1.3%+0.3pp	0.9%-0.1pp	1.0%+0.1pp	0.9%+0.3pp	0.6%-0.6pp	1.2%+0.3pp	0.9%-1.7pp	2.6%
Debt-to-Equity	8.43-0.9x	9.35+0.1x	9.25-0.8x	10.04-0.5x	10.52+1.5x	9.05+1.3x	7.72-0.2x	7.960.0x	7.98-0.1x	8.04+0.3x	7.70-0.1x	7.82-0.5x	8.31-0.4x	8.71+1.0x	7.69
Asset Turnover	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.030.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.030.0x	0.040.0x	0.040.0x	0.04

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	37.7%+0.6pp	33.6%-0.6pp	36.8%+3.3pp	38.1%+4.2pp	37.1%+4.0pp	34.1%-2.9pp	33.5%-1.6pp	33.9%-2.0pp
Return on Equity	3.4%-0.2pp	3.1%-0.1pp	3.1%-0.2pp	3.6%+0.3pp	3.6%+0.2pp	3.2%-0.8pp	3.4%-0.5pp	3.4%-1.0pp
Return on Assets	0.4%0.0pp	0.3%0.0pp	0.3%0.0pp	0.4%+0.1pp	0.4%0.0pp	0.3%-0.1pp	0.3%-0.1pp	0.3%-0.1pp
Debt-to-Equity	8.03-0.8x	8.42-0.7x	8.43-0.9x	8.59-0.6x	8.79-0.4x	9.09-0.1x	9.35+0.1x	9.14-0.7x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Mercantile Bank Corp MBWM	FY2025	$242.7M	$88.8M	36.6%	$1.1B	65/100
Hbt Financial, Inc. HBT	FY2025	$237.1M	$77.0M	32.5%	$1.3B	55/100
NB Bancorp NBBK	FY2025	$213.7M	$50.3M	23.5%	$1.0B	55/100
Equity Bancshare EQBK	FY2025	$210.1M	$22.7M	10.8%	$1.0B	35/100
Metrocity Bankshares Inc MCBS	FY2025	$155.6M	$68.5M	44.0%	$1.0B	82/100
Central Pacific CPF	FY2025	$292.7M	$77.5M	26.5%	$972.0M	38/100

Where Mercantile Bank Corp Ranks

Frequently Asked Questions

What is Mercantile Bank Corp's annual revenue?

Mercantile Bank Corp (MBWM) reported $242.7M in total revenue for fiscal year 2025. This represents a 4.8% 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 Mercantile Bank Corp's revenue growing?

Mercantile Bank Corp (MBWM) revenue grew by 4.8% year-over-year, from $231.5M to $242.7M in fiscal year 2025.

Is Mercantile Bank Corp profitable?

Yes, Mercantile Bank Corp (MBWM) reported a net income of $88.8M in fiscal year 2025, with a net profit margin of 36.6%.

What is Mercantile Bank Corp's net profit margin?

Mercantile Bank Corp (MBWM) had a net profit margin of 36.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Mercantile Bank Corp pay dividends?

Yes, Mercantile Bank Corp (MBWM) paid $1.50 per share in dividends during fiscal year 2025.

What is Mercantile Bank Corp's return on equity (ROE)?

Mercantile Bank Corp (MBWM) has a return on equity of 12.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Mercantile Bank Corp's operating cash flow?

Mercantile Bank Corp (MBWM) generated $18.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Mercantile Bank Corp's total assets?

Mercantile Bank Corp (MBWM) had $6.8B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Mercantile Bank Corp have outstanding?

Mercantile Bank Corp (MBWM) had 17M shares outstanding as of fiscal year 2025.

What is Mercantile Bank Corp's debt-to-equity ratio?

Mercantile Bank Corp (MBWM) had a debt-to-equity ratio of 8.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Mercantile Bank Corp's return on assets (ROA)?

Mercantile Bank Corp (MBWM) had a return on assets of 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Mercantile Bank Corp's P/E ratio?

Mercantile Bank Corp (MBWM) trades at 11.2x earnings, its market capitalization divided by net income of $95.2M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mercantile Bank Corp's price-to-sales ratio?

Mercantile Bank Corp (MBWM) trades at 4.1x sales, its market capitalization divided by revenue of $260.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.1B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mercantile Bank Corp's Piotroski F-Score?

Mercantile Bank Corp (MBWM) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Mercantile Bank Corp's earnings high quality?

Mercantile Bank Corp (MBWM) has an earnings quality ratio of 0.20x, considered low quality (accrual-driven). 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 Mercantile Bank Corp?

Mercantile Bank Corp (MBWM) scores 65 out of 100 on our Financial Health Score, indicating strong standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.