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MIDDLEFIELD BANC CORP (MBCN) Stock Fundamental Analysis

USA - NASDAQ:MBCN - US5963042040 - Common Stock

32.6 USD
-0.32 (-0.97%)
Last: 10/31/2025, 8:00:01 PM
32.757 USD
+0.16 (+0.48%)
After Hours: 10/31/2025, 8:00:01 PM
Fundamental Rating

4

MBCN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 390 industry peers in the Banks industry. While MBCN seems to be doing ok healthwise, there are quite some concerns on its profitability. MBCN has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year MBCN was profitable.
In the past year MBCN had a positive cash flow from operations.
In the past 5 years MBCN has always been profitable.
In the past 5 years MBCN always reported a positive cash flow from operatings.
MBCN Yearly Net Income VS EBIT VS OCF VS FCFMBCN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M

1.2 Ratios

MBCN has a Return On Assets (0.94%) which is in line with its industry peers.
MBCN has a Return On Equity of 8.41%. This is comparable to the rest of the industry: MBCN outperforms 48.97% of its industry peers.
Industry RankSector Rank
ROA 0.94%
ROE 8.41%
ROIC N/A
ROA(3y)0.91%
ROA(5y)0.94%
ROE(3y)7.91%
ROE(5y)8.47%
ROIC(3y)N/A
ROIC(5y)N/A
MBCN Yearly ROA, ROE, ROICMBCN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

MBCN has a Profit Margin of 24.95%. This is comparable to the rest of the industry: MBCN outperforms 58.97% of its industry peers.
In the last couple of years the Profit Margin of MBCN has declined.
MBCN does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 24.95%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-12.08%
PM growth 5Y-3.63%
GM growth 3YN/A
GM growth 5YN/A
MBCN Yearly Profit, Operating, Gross MarginsMBCN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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4

2. Health

2.1 Basic Checks

MBCN does not have a ROIC to compare to the WACC, probably because it is not profitable.
MBCN has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, MBCN has more shares outstanding
MBCN has a better debt/assets ratio than last year.
MBCN Yearly Shares OutstandingMBCN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M 4M 6M 8M
MBCN Yearly Total Debt VS Total AssetsMBCN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

The Debt to FCF ratio of MBCN is 0.58, which is an excellent value as it means it would take MBCN, only 0.58 years of fcf income to pay off all of its debts.
MBCN has a Debt to FCF ratio of 0.58. This is amongst the best in the industry. MBCN outperforms 80.51% of its industry peers.
A Debt/Equity ratio of 0.05 indicates that MBCN is not too dependend on debt financing.
MBCN's Debt to Equity ratio of 0.05 is fine compared to the rest of the industry. MBCN outperforms 80.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.58
Altman-Z N/A
ROIC/WACCN/A
WACC13.56%
MBCN Yearly LT Debt VS Equity VS FCFMBCN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MBCN Yearly Current Assets VS Current LiabilitesMBCN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 35.11% over the past year.
Measured over the past 5 years, MBCN shows a small growth in Earnings Per Share. The EPS has been growing by 1.06% on average per year.
MBCN shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.63%.
Measured over the past years, MBCN shows a small growth in Revenue. The Revenue has been growing by 7.99% on average per year.
EPS 1Y (TTM)35.11%
EPS 3Y-12.16%
EPS 5Y1.06%
EPS Q2Q%58.54%
Revenue 1Y (TTM)12.63%
Revenue growth 3Y7.02%
Revenue growth 5Y7.99%
Sales Q2Q%18.27%

3.2 Future

The Earnings Per Share is expected to grow by 12.95% on average over the next years. This is quite good.
MBCN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.42% yearly.
EPS Next Y29.48%
EPS Next 2Y13.04%
EPS Next 3Y12.95%
EPS Next 5YN/A
Revenue Next Year12.23%
Revenue Next 2Y9.42%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
MBCN Yearly Revenue VS EstimatesMBCN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M
MBCN Yearly EPS VS EstimatesMBCN Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

MBCN is valuated correctly with a Price/Earnings ratio of 12.83.
MBCN's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of MBCN to the average of the S&P500 Index (26.11), we can say MBCN is valued rather cheaply.
The Price/Forward Earnings ratio is 12.51, which indicates a correct valuation of MBCN.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MBCN indicates a slightly more expensive valuation: MBCN is more expensive than 68.46% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.55, MBCN is valued a bit cheaper.
Industry RankSector Rank
PE 12.83
Fwd PE 12.51
MBCN Price Earnings VS Forward Price EarningsMBCN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

MBCN's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 13.15
EV/EBITDA N/A
MBCN Per share dataMBCN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

4.3 Compensation for Growth

MBCN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as MBCN's earnings are expected to grow with 12.95% in the coming years.
PEG (NY)0.44
PEG (5Y)12.08
EPS Next 2Y13.04%
EPS Next 3Y12.95%

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5

5. Dividend

5.1 Amount

MBCN has a Yearly Dividend Yield of 2.55%.
MBCN's Dividend Yield is comparable with the industry average which is at 3.51.
Compared to an average S&P500 Dividend Yield of 2.37, MBCN has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.55%

5.2 History

The dividend of MBCN is nicely growing with an annual growth rate of 6.90%!
MBCN has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)6.9%
Div Incr Years0
Div Non Decr Years0
MBCN Yearly Dividends per shareMBCN Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

36.45% of the earnings are spent on dividend by MBCN. This is a low number and sustainable payout ratio.
MBCN's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP36.45%
EPS Next 2Y13.04%
EPS Next 3Y12.95%
MBCN Yearly Income VS Free CF VS DividendMBCN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
MBCN Dividend Payout.MBCN Dividend Payout, showing the Payout Ratio.MBCN Dividend Payout.PayoutRetained Earnings

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MIDDLEFIELD BANC CORP

NASDAQ:MBCN (10/31/2025, 8:00:01 PM)

After market: 32.757 +0.16 (+0.48%)

32.6

-0.32 (-0.97%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-22 2025-10-22/bmo
Earnings (Next)01-21 2026-01-21/bmo
Inst Owners27.79%
Inst Owner Change-0.01%
Ins Owners3.47%
Ins Owner Change1.29%
Market Cap263.41M
Revenue(TTM)75.92M
Net Income(TTM)18.18M
Analysts48.89
Price Target34.68 (6.38%)
Short Float %0.77%
Short Ratio4.87
Dividend
Industry RankSector Rank
Dividend Yield 2.55%
Yearly Dividend0.8
Dividend Growth(5Y)6.9%
DP36.45%
Div Incr Years0
Div Non Decr Years0
Ex-Date08-29 2025-08-29 (0.21)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)26.07%
Min EPS beat(2)23.56%
Max EPS beat(2)28.58%
EPS beat(4)3
Avg EPS beat(4)17.23%
Min EPS beat(4)-11.17%
Max EPS beat(4)28.58%
EPS beat(8)5
Avg EPS beat(8)10.2%
EPS beat(12)8
Avg EPS beat(12)8.57%
EPS beat(16)12
Avg EPS beat(16)10.1%
Revenue beat(2)2
Avg Revenue beat(2)6.27%
Min Revenue beat(2)2.64%
Max Revenue beat(2)9.91%
Revenue beat(4)2
Avg Revenue beat(4)2.18%
Min Revenue beat(4)-3.78%
Max Revenue beat(4)9.91%
Revenue beat(8)2
Avg Revenue beat(8)-0.82%
Revenue beat(12)4
Avg Revenue beat(12)-0.76%
Revenue beat(16)5
Avg Revenue beat(16)-0.69%
PT rev (1m)3.03%
PT rev (3m)17.24%
EPS NQ rev (1m)1.13%
EPS NQ rev (3m)15.81%
EPS NY rev (1m)-0.5%
EPS NY rev (3m)16.51%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)3.89%
Revenue NY rev (1m)0%
Revenue NY rev (3m)3.27%
Valuation
Industry RankSector Rank
PE 12.83
Fwd PE 12.51
P/S 3.62
P/FCF 13.15
P/OCF 12.25
P/B 1.22
P/tB 1.51
EV/EBITDA N/A
EPS(TTM)2.54
EY7.79%
EPS(NY)2.61
Fwd EY8%
FCF(TTM)2.48
FCFY7.61%
OCF(TTM)2.66
OCFY8.17%
SpS9.02
BVpS26.74
TBVpS21.61
PEG (NY)0.44
PEG (5Y)12.08
Graham Number39.09
Profitability
Industry RankSector Rank
ROA 0.94%
ROE 8.41%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 24.95%
GM N/A
FCFM 27.5%
ROA(3y)0.91%
ROA(5y)0.94%
ROE(3y)7.91%
ROE(5y)8.47%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-12.08%
PM growth 5Y-3.63%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.05
Debt/FCF 0.58
Debt/EBITDA N/A
Cap/Depr 108.92%
Cap/Sales 2.03%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 110.23%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score7
WACC13.56%
ROIC/WACCN/A
Cap/Depr(3y)67.12%
Cap/Depr(5y)54.69%
Cap/Sales(3y)1.4%
Cap/Sales(5y)1.5%
Profit Quality(3y)113.84%
Profit Quality(5y)117.74%
High Growth Momentum
Growth
EPS 1Y (TTM)35.11%
EPS 3Y-12.16%
EPS 5Y1.06%
EPS Q2Q%58.54%
EPS Next Y29.48%
EPS Next 2Y13.04%
EPS Next 3Y12.95%
EPS Next 5YN/A
Revenue 1Y (TTM)12.63%
Revenue growth 3Y7.02%
Revenue growth 5Y7.99%
Sales Q2Q%18.27%
Revenue Next Year12.23%
Revenue Next 2Y9.42%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-11.43%
FCF growth 3Y4.07%
FCF growth 5Y7.62%
OCF growth 1Y-9.27%
OCF growth 3Y4.24%
OCF growth 5Y5.35%

MIDDLEFIELD BANC CORP / MBCN FAQ

What is the fundamental rating for MBCN stock?

ChartMill assigns a fundamental rating of 4 / 10 to MBCN.


Can you provide the valuation status for MIDDLEFIELD BANC CORP?

ChartMill assigns a valuation rating of 4 / 10 to MIDDLEFIELD BANC CORP (MBCN). This can be considered as Fairly Valued.


Can you provide the profitability details for MIDDLEFIELD BANC CORP?

MIDDLEFIELD BANC CORP (MBCN) has a profitability rating of 3 / 10.


What is the valuation of MIDDLEFIELD BANC CORP based on its PE and PB ratios?

The Price/Earnings (PE) ratio for MIDDLEFIELD BANC CORP (MBCN) is 12.83 and the Price/Book (PB) ratio is 1.22.


What is the earnings growth outlook for MIDDLEFIELD BANC CORP?

The Earnings per Share (EPS) of MIDDLEFIELD BANC CORP (MBCN) is expected to grow by 29.48% in the next year.