50.37 USD
-0.09 (-0.18%)
MBWM gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 383 industry peers in the Banks industry. While MBWM is still in line with the averages on profitability rating, there are concerns on its financial health. MBWM is not valued too expensively and it also shows a decent growth rate. Finally MBWM also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- MBWM had positive earnings in the past year.
- MBWM had a positive operating cash flow in the past year.
- In the past 5 years MBWM has always been profitable.
- MBWM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- MBWM's Return On Assets of 1.36% is amongst the best of the industry. MBWM outperforms 84.33% of its industry peers.
- MBWM has a Return On Equity of 13.01%. This is amongst the best in the industry. MBWM outperforms 87.21% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.36% | ||
| ROE | 13.01% | ||
| ROIC | N/A |
ROA(3y)1.37%
ROA(5y)1.24%
ROE(3y)14.4%
ROE(5y)13.22%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
- With an excellent Profit Margin value of 35.77%, MBWM belongs to the best of the industry, outperforming 92.69% of the companies in the same industry.
- In the last couple of years the Profit Margin of MBWM has remained more or less at the same level.
- The Operating Margin and Gross Margin are not available for MBWM so they could not be analyzed.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 35.77% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y1.67%
PM growth 5Y1.03%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
- MBWM does not have a ROIC to compare to the WACC, probably because it is not profitable.
- MBWM has about the same amout of shares outstanding than it did 1 year ago.
- The number of shares outstanding for MBWM has been reduced compared to 5 years ago.
- The debt/assets ratio for MBWM has been reduced compared to a year ago.
2.2 Solvency
- The Debt to FCF ratio of MBWM is 6.02, which is on the high side as it means it would take MBWM, 6.02 years of fcf income to pay off all of its debts.
- MBWM has a Debt to FCF ratio of 6.02. This is in the lower half of the industry: MBWM underperforms 74.93% of its industry peers.
- A Debt/Equity ratio of 0.60 indicates that MBWM is somewhat dependend on debt financing.
- MBWM has a Debt to Equity ratio of 0.60. This is in the lower half of the industry: MBWM underperforms 78.85% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | 6.02 | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC11.83%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
- MBWM shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.02%.
- Measured over the past years, MBWM shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.29% on average per year.
- Looking at the last year, MBWM shows a small growth in Revenue. The Revenue has grown by 4.01% in the last year.
- The Revenue has been growing by 8.85% on average over the past years. This is quite good.
EPS 1Y (TTM)6.02%
EPS 3Y9.21%
EPS 5Y11.29%
EPS Q2Q%19.67%
Revenue 1Y (TTM)4.01%
Revenue growth 3Y8.68%
Revenue growth 5Y8.85%
Sales Q2Q%7.65%
3.2 Future
- MBWM is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.90% yearly.
- Based on estimates for the next years, MBWM will show a small growth in Revenue. The Revenue will grow by 7.77% on average per year.
EPS Next Y11.24%
EPS Next 2Y5.75%
EPS Next 3Y5.9%
EPS Next 5YN/A
Revenue Next Year5.58%
Revenue Next 2Y8.31%
Revenue Next 3Y7.77%
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.
- 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.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 9.54, the valuation of MBWM can be described as very reasonable.
- Based on the Price/Earnings ratio, MBWM is valued cheaper than 87.21% of the companies in the same industry.
- When comparing the Price/Earnings ratio of MBWM to the average of the S&P500 Index (27.54), we can say MBWM is valued rather cheaply.
- The Price/Forward Earnings ratio is 9.10, which indicates a very decent valuation of MBWM.
- Based on the Price/Forward Earnings ratio, MBWM is valued a bit cheaper than the industry average as 77.55% of the companies are valued more expensively.
- Compared to an average S&P500 Price/Forward Earnings ratio of 24.31, MBWM is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.54 | ||
| Fwd PE | 9.1 |
4.2 Price Multiples
- MBWM's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.58 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- MBWM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.85
PEG (5Y)0.85
EPS Next 2Y5.75%
EPS Next 3Y5.9%
5. Dividend
5.1 Amount
- MBWM has a Yearly Dividend Yield of 3.03%. Purely for dividend investing, there may be better candidates out there.
- MBWM's Dividend Yield is comparable with the industry average which is at 2.90.
- MBWM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.92.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.03% |
5.2 History
- On average, the dividend of MBWM grows each year by 6.02%, which is quite nice.
- MBWM has paid a dividend for at least 10 years, which is a reliable track record.
- MBWM has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)6.02%
Div Incr Years12
Div Non Decr Years12
5.3 Sustainability
- MBWM pays out 27.57% of its income as dividend. This is a sustainable payout ratio.
- MBWM's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP27.57%
EPS Next 2Y5.75%
EPS Next 3Y5.9%
NASDAQ:MBWM (1/16/2026, 10:57:46 AM)
50.37
-0.09 (-0.18%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)10-21 2025-10-21/bmo
Earnings (Next)01-20 2026-01-20/bmo
Inst Owners66.76%
Inst Owner Change-0.03%
Ins Owners2.52%
Ins Owner Change1.25%
Market Cap818.51M
Revenue(TTM)239.11M
Net Income(TTM)85.54M
Analysts78.18
Price Target54.47 (8.14%)
Short Float %1.37%
Short Ratio2.88
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.03% |
Yearly Dividend1.39
Dividend Growth(5Y)6.02%
DP27.57%
Div Incr Years12
Div Non Decr Years12
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.75%
Min EPS beat(2)3.96%
Max EPS beat(2)9.53%
EPS beat(4)4
Avg EPS beat(4)4.53%
Min EPS beat(4)0.26%
Max EPS beat(4)9.53%
EPS beat(8)6
Avg EPS beat(8)4.17%
EPS beat(12)10
Avg EPS beat(12)6.67%
EPS beat(16)12
Avg EPS beat(16)5.19%
Revenue beat(2)0
Avg Revenue beat(2)-0.37%
Min Revenue beat(2)-0.46%
Max Revenue beat(2)-0.27%
Revenue beat(4)1
Avg Revenue beat(4)-0.73%
Min Revenue beat(4)-2.18%
Max Revenue beat(4)0.01%
Revenue beat(8)1
Avg Revenue beat(8)-1.95%
Revenue beat(12)4
Avg Revenue beat(12)-0.62%
Revenue beat(16)5
Avg Revenue beat(16)-1.19%
PT rev (1m)1.14%
PT rev (3m)-3.96%
EPS NQ rev (1m)0%
EPS NQ rev (3m)11.16%
EPS NY rev (1m)0%
EPS NY rev (3m)4.38%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.77%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.09%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.54 | ||
| Fwd PE | 9.1 | ||
| P/S | 3.42 | ||
| P/FCF | 12.58 | ||
| P/OCF | 11.34 | ||
| P/B | 1.24 | ||
| P/tB | 1.35 | ||
| EV/EBITDA | N/A |
EPS(TTM)5.28
EY10.48%
EPS(NY)5.54
Fwd EY10.99%
FCF(TTM)4
FCFY7.95%
OCF(TTM)4.44
OCFY8.82%
SpS14.71
BVpS40.47
TBVpS37.42
PEG (NY)0.85
PEG (5Y)0.85
Graham Number69.34
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.36% | ||
| ROE | 13.01% | ||
| ROCE | N/A | ||
| ROIC | N/A | ||
| ROICexc | N/A | ||
| ROICexgc | N/A | ||
| OM | N/A | ||
| PM (TTM) | 35.77% | ||
| GM | N/A | ||
| FCFM | 27.21% |
ROA(3y)1.37%
ROA(5y)1.24%
ROE(3y)14.4%
ROE(5y)13.22%
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 3Y1.67%
PM growth 5Y1.03%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.6 | ||
| Debt/FCF | 6.02 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | 105.34% | ||
| Cap/Sales | 2.98% | ||
| Interest Coverage | N/A | ||
| Cash Conversion | N/A | ||
| Profit Quality | 76.05% | ||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z | N/A |
F-Score6
WACC11.83%
ROIC/WACCN/A
Cap/Depr(3y)54.21%
Cap/Depr(5y)59.85%
Cap/Sales(3y)2.74%
Cap/Sales(5y)3.34%
Profit Quality(3y)126.85%
Profit Quality(5y)109.22%
High Growth Momentum
Growth
EPS 1Y (TTM)6.02%
EPS 3Y9.21%
EPS 5Y11.29%
EPS Q2Q%19.67%
EPS Next Y11.24%
EPS Next 2Y5.75%
EPS Next 3Y5.9%
EPS Next 5YN/A
Revenue 1Y (TTM)4.01%
Revenue growth 3Y8.68%
Revenue growth 5Y8.85%
Sales Q2Q%7.65%
Revenue Next Year5.58%
Revenue Next 2Y8.31%
Revenue Next 3Y7.77%
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-37.51%
FCF growth 3Y16.21%
FCF growth 5Y24.22%
OCF growth 1Y-34.97%
OCF growth 3Y16.11%
OCF growth 5Y17.68%
MERCANTILE BANK CORP / MBWM FAQ
Can you provide the ChartMill fundamental rating for MERCANTILE BANK CORP?
ChartMill assigns a fundamental rating of 4 / 10 to MBWM.
What is the valuation status of MERCANTILE BANK CORP (MBWM) stock?
ChartMill assigns a valuation rating of 5 / 10 to MERCANTILE BANK CORP (MBWM). This can be considered as Fairly Valued.
Can you provide the profitability details for MERCANTILE BANK CORP?
MERCANTILE BANK CORP (MBWM) has a profitability rating of 5 / 10.
Can you provide the financial health for MBWM stock?
The financial health rating of MERCANTILE BANK CORP (MBWM) is 1 / 10.
What is the expected EPS growth for MERCANTILE BANK CORP (MBWM) stock?
The Earnings per Share (EPS) of MERCANTILE BANK CORP (MBWM) is expected to grow by 11.24% in the next year.