MIDDLEFIELD BANC CORP (MBCN)
US5963042040 - Common Stock
We assign a fundamental rating of 4 out of 10 to MBCN. MBCN was compared to 411 industry peers in the Banks industry. MBCN scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. MBCN is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
MBCN had positive earnings in the past year.
MBCN had a positive operating cash flow in the past year.
In the past 5 years MBCN has always been profitable.
Each year in the past 5 years MBCN had a positive operating cash flow.
1.2 Ratios
MBCN's Return On Assets of 0.95% is in line compared to the rest of the industry. MBCN outperforms 58.64% of its industry peers.
MBCN has a Return On Equity of 8.45%. This is comparable to the rest of the industry: MBCN outperforms 43.80% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.95% | ||
| ROE | 8.45% | ||
| ROIC | N/A |
ROA(3y)1.09%
ROA(5y)0.99%
ROE(3y)9.73%
ROE(5y)8.84%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
MBCN has a Profit Margin (24.16%) which is in line with its industry peers.
MBCN's Profit Margin has declined in the last couple of years.
MBCN does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 24.16% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y12.63%
PM growth 5Y-3%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
MBCN does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, MBCN has less shares outstanding
The number of shares outstanding for MBCN has been increased compared to 5 years ago.
Compared to 1 year ago, MBCN has an improved debt to assets ratio.
2.2 Solvency
MBCN has a debt to FCF ratio of 0.56. This is a very positive value and a sign of high solvency as it would only need 0.56 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.56, MBCN belongs to the top of the industry, outperforming 81.51% of the companies in the same industry.
A Debt/Equity ratio of 0.06 indicates that MBCN is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.06, MBCN belongs to the top of the industry, outperforming 82.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.06 | ||
| Debt/FCF | 0.56 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC13.15%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
MBCN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -28.81%.
Measured over the past 5 years, MBCN shows a small growth in Earnings Per Share. The EPS has been growing by 2.34% on average per year.
MBCN shows a strong growth in Revenue. In the last year, the Revenue has grown by 26.31%.
The Revenue has been growing by 10.23% on average over the past years. This is quite good.
EPS 1Y (TTM)-28.81%
EPS 3Y18.26%
EPS 5Y2.34%
EPS growth Q2Q-44.3%
Revenue 1Y (TTM)26.31%
Revenue growth 3Y13.34%
Revenue growth 5Y10.23%
Revenue growth Q2Q2.96%
3.2 Future
Based on estimates for the next years, MBCN will show a decrease in Earnings Per Share. The EPS will decrease by -9.75% on average per year.
The Revenue is expected to grow by 0.22% on average over the next years.
EPS Next Y-22.6%
EPS Next 2Y-9.75%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-5.15%
Revenue Next 2Y0.22%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 10.14, the valuation of MBCN can be described as very reasonable.
MBCN's Price/Earnings ratio is in line with the industry average.
MBCN is valuated cheaply when we compare the Price/Earnings ratio to 25.20, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 13.10 indicates a correct valuation of MBCN.
Based on the Price/Forward Earnings ratio, MBCN is valued a bit more expensive than the industry average as 68.13% of the companies are valued more cheaply.
MBCN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.63.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.14 | ||
| Fwd PE | 13.1 |
4.2 Price Multiples
MBCN's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.27 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
A cheap valuation may be justified as MBCN's earnings are expected to decrease with -9.75% in the coming years.
PEG (NY)N/A
PEG (5Y)4.33
EPS Next 2Y-9.75%
EPS Next 3YN/A
5. Dividend
5.1 Amount
MBCN has a Yearly Dividend Yield of 3.52%. Purely for dividend investing, there may be better candidates out there.
In the last 3 months the price of MBCN has falen by -26.60%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
MBCN's Dividend Yield is comparable with the industry average which is at 3.86.
MBCN's Dividend Yield is a higher than the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.52% |
5.2 History
On average, the dividend of MBCN grows each year by 7.53%, which is quite nice.
MBCN has paid a dividend for at least 10 years, which is a reliable track record.
MBCN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)7.53%
Div Incr Years4
Div Non Decr Years4
5.3 Sustainability
MBCN pays out 39.51% of its income as dividend. This is a sustainable payout ratio.
DP39.51%
EPS Next 2Y-9.75%
EPS Next 3YN/A
MIDDLEFIELD BANC CORP
NASDAQ:MBCN (4/25/2024, 7:03:52 PM)
After market: 21.8 0 (0%)21.8
-0.93 (-4.09%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap175.93M
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.52% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
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EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
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Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.14 | ||
| Fwd PE | 13.1 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)4.33
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.95% | ||
| ROE | 8.45% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | 24.16% | ||
| GM | N/A | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.06 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)-28.81%
EPS 3Y18.26%
EPS 5Y
EPS growth Q2Q
EPS Next Y-22.6%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)26.31%
Revenue growth 3Y13.34%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
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FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y