MBCN Fundamental Analysis - MIDDLEFIELD BANC CORP

Fundamental Rating

Taking everything into account, MBCN scores 4 out of 10 in our fundamental rating. MBCN was compared to 395 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.

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1. Profitability

1.1 Basic Checks

MBCN had positive earnings in the past year.

In the past year MBCN had a positive cash flow from operations.

In the past 5 years MBCN has always been profitable.

MBCN had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

MBCN's Return On Assets of 0.86% is in line compared to the rest of the industry. MBCN outperforms 52.41% of its industry peers.

MBCN has a Return On Equity (7.57%) which is comparable to the rest of the industry.

		Industry Rank	Sector Rank
ROA	0.86%
ROE	7.57%
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

1.3 Margins

With a Profit Margin value of 23.39%, MBCN perfoms like the industry average, outperforming 49.11% of the companies in the same industry.

In the last couple of years the Profit Margin of MBCN has declined.

The Operating Margin and Gross Margin are not available for MBCN so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	23.39%
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

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ROA

ROE

ROIC

Operating and Profit Margin

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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

The debt/assets ratio for MBCN has been reduced compared to a year ago.

2.2 Solvency

The Debt to FCF ratio of MBCN is 0.61, which is an excellent value as it means it would take MBCN, only 0.61 years of fcf income to pay off all of its debts.

With an excellent Debt to FCF ratio value of 0.61, MBCN belongs to the best of the industry, outperforming 81.01% 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'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 Rank	Sector Rank
Debt/Equity	0.05
Debt/FCF	0.61
Altman-Z	N/A

ROIC/WACCN/A

WACC14.65%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 5.45% over the past year.

MBCN shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.06% yearly.

MBCN shows a decrease in Revenue. In the last year, the revenue decreased by -1.85%.

The Revenue has been growing slightly by 7.99% on average over the past years.

EPS 1Y (TTM)5.45%

EPS 3Y-12.16%

EPS 5Y1.06%

EPS Q2Q%17.65%

Revenue 1Y (TTM)-1.85%

Revenue growth 3Y7.02%

Revenue growth 5Y7.99%

Sales Q2Q%7.62%

3.2 Future

Based on estimates for the next years, MBCN will show a small growth in Earnings Per Share. The EPS will grow by 4.67% on average per year.

Based on estimates for the next years, MBCN will show a small growth in Revenue. The Revenue will grow by 6.83% on average per year.

EPS Next Y11.13%

EPS Next 2Y4.67%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year8.67%

Revenue Next 2Y6.83%

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.

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4. Valuation

4.1 Price/Earnings Ratio

MBCN is valuated correctly with a Price/Earnings ratio of 13.76.

Compared to the rest of the industry, the Price/Earnings ratio of MBCN indicates a slightly more expensive valuation: MBCN is more expensive than 64.81% of the companies listed in the same industry.

MBCN is valuated rather cheaply when we compare the Price/Earnings ratio to 26.34, which is the current average of the S&P500 Index.

A Price/Forward Earnings ratio of 13.11 indicates a correct valuation of MBCN.

71.14% of the companies in the same industry are cheaper than MBCN, based on the Price/Forward Earnings ratio.

When comparing the Price/Forward Earnings ratio of MBCN to the average of the S&P500 Index (22.19), we can say MBCN is valued slightly cheaper.

		Industry Rank	Sector Rank
PE	13.76
Fwd PE	13.11

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of MBCN is on the same level as its industry peers.

		Industry Rank	Sector Rank
P/FCF	12.4
EV/EBITDA	N/A

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.

PEG (NY)1.24

PEG (5Y)12.95

EPS Next 2Y4.67%

EPS Next 3YN/A

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5. Dividend

5.1 Amount

MBCN has a Yearly Dividend Yield of 2.85%.

MBCN's Dividend Yield is comparable with the industry average which is at 3.46.

MBCN's Dividend Yield is comparable with the S&P500 average which is at 2.40.

		Industry Rank	Sector Rank
Dividend Yield	2.85%

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

5.3 Sustainability

40.42% of the earnings are spent on dividend by MBCN. This is a bit on the high side, but may be sustainable.

MBCN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.

DP40.42%

EPS Next 2Y4.67%

EPS Next 3YN/A

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MIDDLEFIELD BANC CORP

NASDAQ:MBCN (6/18/2025, 8:05:10 PM)

After market: 29.3 0 (0%)

29.3

+0.35 (+1.21%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)04-24 2025-04-24/amc

Earnings (Next)07-16 2025-07-16/bmo

Inst Owners26.86%

Inst Owner Change0.07%

Ins Owners3.31%

Ins Owner Change0.81%

Market Cap236.74M

Analysts48.89

Price Target28.9 (-1.37%)

Short Float %0.72%

Short Ratio6.11

Dividend

		Industry Rank	Sector Rank
Dividend Yield	2.85%

Yearly Dividend0.8

Dividend Growth(5Y)6.9%

DP40.42%

Div Incr Years0

Div Non Decr Years0

Ex-Date05-30 2025-05-30 (0.21)

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)28.26%

Min EPS beat(2)27.95%

Max EPS beat(2)28.58%

EPS beat(4)3

Avg EPS beat(4)18.02%

Min EPS beat(4)-11.17%

Max EPS beat(4)28.58%

EPS beat(8)4

Avg EPS beat(8)7.18%

EPS beat(12)8

Avg EPS beat(12)8.13%

EPS beat(16)12

Avg EPS beat(16)9.84%

Revenue beat(2)1

Avg Revenue beat(2)1.3%

Min Revenue beat(2)-0.04%

Max Revenue beat(2)2.64%

Revenue beat(4)1

Avg Revenue beat(4)-0.82%

Min Revenue beat(4)-3.78%

Max Revenue beat(4)2.64%

Revenue beat(8)2

Avg Revenue beat(8)-1.73%

Revenue beat(12)3

Avg Revenue beat(12)-1.65%

Revenue beat(16)4

Avg Revenue beat(16)-1.34%

PT rev (1m)0%

PT rev (3m)2.41%

EPS NQ rev (1m)0%

EPS NQ rev (3m)14.66%

EPS NY rev (1m)0%

EPS NY rev (3m)14.71%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)2.62%

Revenue NY rev (1m)0%

Revenue NY rev (3m)4.55%

Valuation

		Industry Rank	Sector Rank
PE	13.76
Fwd PE	13.11
P/S	3.42
P/FCF	12.4
P/OCF	11.81
P/B	1.11
P/tB	1.38
EV/EBITDA	N/A

EPS(TTM)2.13

EY7.27%

EPS(NY)2.23

Fwd EY7.63%

FCF(TTM)2.36

FCFY8.06%

OCF(TTM)2.48

OCFY8.47%

SpS8.56

BVpS26.46

TBVpS21.3

PEG (NY)1.24

PEG (5Y)12.95

Profitability

		Industry Rank	Sector Rank
ROA	0.86%
ROE	7.57%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	23.39%
GM	N/A
FCFM	27.6%

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

ROICexcg growth 3YN/A

ROICexcg 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-Score5

Asset Turnover0.04

Health

		Industry Rank	Sector Rank
Debt/Equity	0.05
Debt/FCF	0.61
Debt/EBITDA	N/A
Cap/Depr	74.19%
Cap/Sales	1.38%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	117.97%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score5

WACC14.65%

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)5.45%

EPS 3Y-12.16%

EPS 5Y1.06%

EPS Q2Q%17.65%

EPS Next Y11.13%

EPS Next 2Y4.67%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue 1Y (TTM)-1.85%

Revenue growth 3Y7.02%

Revenue growth 5Y7.99%

Sales Q2Q%7.62%

Revenue Next Year8.67%

Revenue Next 2Y6.83%

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-10.25%

FCF growth 3Y4.07%

FCF growth 5Y7.62%

OCF growth 1Y-10.26%

OCF growth 3Y4.24%

OCF growth 5Y5.35%

MIDDLEFIELD BANC CORP (MBCN) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens