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MIDDLEFIELD BANC CORP (MBCN) Stock Fundamental Analysis

USA - NASDAQ:MBCN - US5963042040 - Common Stock

33.76 USD
-0.25 (-0.74%)
Last: 10/29/2025, 10:51:49 AM
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.
MBCN had positive earnings in each of the past 5 years.
MBCN had a positive operating cash flow in each of the past 5 years.
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's Return On Assets of 0.94% is in line compared to the rest of the industry. MBCN outperforms 57.95% of its industry peers.
MBCN's Return On Equity of 8.41% is in line compared 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

With a Profit Margin value of 24.95%, MBCN perfoms like the industry average, outperforming 58.97% of the companies in the same industry.
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 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

MBCN has a debt to FCF ratio of 0.58. This is a very positive value and a sign of high solvency as it would only need 0.58 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 0.58, MBCN belongs to the top of the industry, outperforming 80.51% of the companies in the same industry.
A Debt/Equity ratio of 0.05 indicates that MBCN is not too dependend on debt financing.
MBCN has a Debt to Equity ratio of 0.05. This is in the better half 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
WACC13.37%
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.
The Earnings Per Share has been growing slightly by 1.06% on average over the past years.
The Revenue has grown by 12.63% in the past year. This is quite good.
The Revenue has been growing slightly by 7.99% on average over the past years.
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

MBCN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 12.95% yearly.
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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

With a Price/Earnings ratio of 13.29, MBCN is valued correctly.
MBCN's Price/Earnings ratio is a bit more expensive when compared to the industry. MBCN is more expensive than 60.51% of the companies in the same industry.
MBCN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.00.
MBCN is valuated correctly with a Price/Forward Earnings ratio of 12.95.
MBCN's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. MBCN is more expensive than 69.49% of the companies in the same industry.
MBCN's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.87.
Industry RankSector Rank
PE 13.29
Fwd PE 12.95
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 ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 13.62
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)0.45
PEG (5Y)12.51
EPS Next 2Y13.04%
EPS Next 3Y12.95%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.50%, MBCN has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.50, MBCN has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.31, MBCN has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.5%

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

MBCN pays out 36.45% of its income as dividend. This is a 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 (10/29/2025, 10:51:49 AM)

33.76

-0.25 (-0.74%)

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 Change0%
Ins Owners3.47%
Ins Owner Change1.29%
Market Cap272.78M
Revenue(TTM)75.92M
Net Income(TTM)18.18M
Analysts48.89
Price Target34.68 (2.73%)
Short Float %0.77%
Short Ratio4.87
Dividend
Industry RankSector Rank
Dividend Yield 2.5%
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)0%
PT rev (3m)13.79%
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 13.29
Fwd PE 12.95
P/S 3.74
P/FCF 13.62
P/OCF 12.68
P/B 1.26
P/tB 1.56
EV/EBITDA N/A
EPS(TTM)2.54
EY7.52%
EPS(NY)2.61
Fwd EY7.72%
FCF(TTM)2.48
FCFY7.34%
OCF(TTM)2.66
OCFY7.89%
SpS9.02
BVpS26.74
TBVpS21.61
PEG (NY)0.45
PEG (5Y)12.51
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
WACC13.37%
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 13.29 and the Price/Book (PB) ratio is 1.26.


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.