NASDAQ · Financial Statements

Mercantile Bank Corporation (MBWM) Financial Statements

$58.20 NASDAQ: MBWM Market Cap $1.01B

Mercantile Bank Corporation most recently reported annual revenue of $372.0M, net profit of $89.0M, revenue has compounded at 14.0% a year over the last five years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Annual Financials (USD)

Metric20212022202320242025
Revenue$199.0M$214.0M$304.0M$362.0M$372.0M
Operating Profit$74.0M$76.0M$103.0M$98.0M$102.0M
Net Profit$59.0M$61.0M$82.0M$80.0M$89.0M
EPS$3.69$3.85$5.13$4.93$5.46
Op Margin37.1%35.4%33.8%27.2%27.5%

Balance Sheet (USD)

Metric20212022202320242025
Total Assets$5.3B$4.9B$5.4B$6.1B$6.8B
Total Liabilities$4.8B$4.4B$4.8B$5.5B$6.1B
Cash$975.0M$97.0M$131.0M$393.0M$473.0M
Borrowings$693.0M$640.0M$836.0M$648.0M$826.0M

Cash Flow (USD)

Metric20212022202320242025
Operating Cash Flow$65.0M$120.0M$67.0M$101.0M$18.0M
Investing Cash Flow$-501.0M$-558.0M$-403.0M$-434.0M$-112.0M
Financing Cash Flow$744.0M$-373.0M$224.0M$689.0M$222.0M
Net Cash Flow$349.0M$-878.0M$34.0M$262.0M$80.0M
Free Cash Flow$59.0M$117.0M$60.0M$93.0M$11.0M

Valuation & Return Ratios

MetricValue
PEG Ratio0.82
EV / EBITDA—
FCF Yield—
Quick Ratio—
Interest Coverage—
Return 1Y20.56%
Return 3Y86.37%
Return 5Y125.31%

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