MSBI Fundamental Analysis - MIDLAND STATES BANCORP INC

Fundamental Rating

We assign a fundamental rating of 4 out of 10 to MSBI. MSBI was compared to 392 industry peers in the Banks industry. Both the profitability and financial health of MSBI have multiple concerns. MSBI has a valuation in line with the averages, but on the other hand it scores bad on growth. MSBI also has an excellent dividend rating.

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1. Profitability

1.1 Basic Checks

MSBI had negative earnings in the past year.

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

MSBI had positive earnings in each of the past 5 years.

Each year in the past 5 years MSBI had a positive operating cash flow.

1.2 Ratios

MSBI's Return On Assets of -1.73% is on the low side compared to the rest of the industry. MSBI is outperformed by 96.43% of its industry peers.

MSBI's Return On Equity of -22.08% is on the low side compared to the rest of the industry. MSBI is outperformed by 96.43% of its industry peers.

		Industry Rank	Sector Rank
ROA	-1.73%
ROE	-22.08%
ROIC	N/A

ROA(3y)0.75%

ROA(5y)0.73%

ROE(3y)7.91%

ROE(5y)7.89%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

MSBI's Profit Margin has declined in the last couple of years.

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

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-35.9%

PM growth 5Y-18.2%

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

MSBI does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for MSBI has been reduced compared to 1 year ago.

Compared to 5 years ago, MSBI has less shares outstanding

The debt/assets ratio for MSBI is higher compared to a year ago.

2.2 Solvency

MSBI has a debt to FCF ratio of 1.02. This is a very positive value and a sign of high solvency as it would only need 1.02 years to pay back of all of its debts.

MSBI has a better Debt to FCF ratio (1.02) than 68.88% of its industry peers.

A Debt/Equity ratio of 0.30 indicates that MSBI is not too dependend on debt financing.

The Debt to Equity ratio of MSBI (0.30) is worse than 68.11% of its industry peers.

Even though the debt/equity ratio score it not favorable for MSBI, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.

		Industry Rank	Sector Rank
Debt/Equity	0.3
Debt/FCF	1.02
Altman-Z	N/A

ROIC/WACCN/A

WACC19.79%

2.3 Liquidity

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

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

The earnings per share for MSBI have decreased strongly by -121.21% in the last year.

The earnings per share for MSBI have been decreasing by -10.23% on average. This is quite bad

Looking at the last year, MSBI shows a small growth in Revenue. The Revenue has grown by 3.16% in the last year.

The Revenue has been growing slightly by 7.19% on average over the past years.

EPS 1Y (TTM)-121.21%

EPS 3Y-28.26%

EPS 5Y-10.23%

EPS Q2Q%120%

Revenue 1Y (TTM)3.16%

Revenue growth 3Y10.55%

Revenue growth 5Y7.19%

Sales Q2Q%13.09%

3.2 Future

The Earnings Per Share is expected to grow by 63.90% on average over the next years. This is a very strong growth

MSBI is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.09% yearly.

EPS Next Y461.86%

EPS Next 2Y140.78%

EPS Next 3Y63.9%

EPS Next 5YN/A

Revenue Next Year6.33%

Revenue Next 2Y2.89%

Revenue Next 3Y-0.09%

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 accelerating.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

MSBI reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.

A Price/Forward Earnings ratio of 6.75 indicates a rather cheap valuation of MSBI.

92.60% of the companies in the same industry are more expensive than MSBI, based on the Price/Forward Earnings ratio.

MSBI's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.86.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	6.75

4.2 Price Multiples

Compared to the rest of the industry, the Price/Free Cash Flow ratio of MSBI indicates a rather cheap valuation: MSBI is cheaper than 98.47% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	2.33
EV/EBITDA	N/A

4.3 Compensation for Growth

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

MSBI's earnings are expected to grow with 63.90% in the coming years. This may justify a more expensive valuation.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y140.78%

EPS Next 3Y63.9%

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5. Dividend

5.1 Amount

MSBI has a Yearly Dividend Yield of 8.04%, which is a nice return.

Compared to an average industry Dividend Yield of 3.47, MSBI pays a better dividend. On top of this MSBI pays more dividend than 97.70% of the companies listed in the same industry.

Compared to an average S&P500 Dividend Yield of 2.38, MSBI pays a better dividend.

		Industry Rank	Sector Rank
Dividend Yield	8.04%

5.2 History

On average, the dividend of MSBI grows each year by 11.10%, which is quite nice.

MSBI has been paying a dividend for at least 10 years, so it has a reliable track record.

MSBI has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.

Dividend Growth(5Y)11.1%

Div Incr Years8

Div Non Decr Years8

5.3 Sustainability

The earnings of MSBI are negative and hence is the payout ratio. MSBI will probably not be able to sustain this dividend level.

The dividend of MSBI is growing, but earnings are growing more, so the dividend growth is sustainable.

DP-28.53%

EPS Next 2Y140.78%

EPS Next 3Y63.9%

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MIDLAND STATES BANCORP INC

NASDAQ:MSBI (9/22/2025, 11:54:09 AM)

17.94

-0.03 (-0.17%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)07-24 2025-07-24/amc

Earnings (Next)10-22 2025-10-22/amc

Inst Owners65.02%

Inst Owner Change1.88%

Ins Owners3.67%

Ins Owner Change0.85%

Market Cap386.43M

Analysts48.89

Price Target20.4 (13.71%)

Short Float %1.85%

Short Ratio3.18

Dividend

		Industry Rank	Sector Rank
Dividend Yield	8.04%

Yearly Dividend1.67

Dividend Growth(5Y)11.1%

DP-28.53%

Div Incr Years8

Div Non Decr Years8

Ex-Date08-15 2025-08-15 (0.32)

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)-206.91%

Min EPS beat(2)-414.99%

Max EPS beat(2)1.16%

EPS beat(4)2

Avg EPS beat(4)-118.15%

Min EPS beat(4)-414.99%

Max EPS beat(4)13.22%

EPS beat(8)4

Avg EPS beat(8)-67.3%

EPS beat(12)8

Avg EPS beat(12)-41.03%

EPS beat(16)11

Avg EPS beat(16)-31.91%

Revenue beat(2)1

Avg Revenue beat(2)-0.59%

Min Revenue beat(2)-1.9%

Max Revenue beat(2)0.73%

Revenue beat(4)1

Avg Revenue beat(4)-1.55%

Min Revenue beat(4)-4.72%

Max Revenue beat(4)0.73%

Revenue beat(8)3

Avg Revenue beat(8)-0.56%

Revenue beat(12)4

Avg Revenue beat(12)0.46%

Revenue beat(16)5

Avg Revenue beat(16)-0.01%

PT rev (1m)1.69%

PT rev (3m)2.56%

EPS NQ rev (1m)0%

EPS NQ rev (3m)1.25%

EPS NY rev (1m)0%

EPS NY rev (3m)0%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)-0.55%

Revenue NY rev (1m)0.8%

Revenue NY rev (3m)3.84%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	6.75
P/S	1.03
P/FCF	2.33
P/OCF	2.22
P/B	0.68
P/tB	0.72
EV/EBITDA	N/A

EPS(TTM)-0.42

EYN/A

EPS(NY)2.66

Fwd EY14.82%

FCF(TTM)7.71

FCFY42.99%

OCF(TTM)8.09

OCFY45.11%

SpS17.36

BVpS26.53

TBVpS24.84

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-1.73%
ROE	-22.08%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	N/A
FCFM	44.41%

ROA(3y)0.75%

ROA(5y)0.73%

ROE(3y)7.91%

ROE(5y)7.89%

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-35.9%

PM growth 5Y-18.2%

GM growth 3YN/A

GM growth 5YN/A

F-Score5

Asset Turnover0.05

Health

		Industry Rank	Sector Rank
Debt/Equity	0.3
Debt/FCF	1.02
Debt/EBITDA	N/A
Cap/Depr	61.88%
Cap/Sales	2.2%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score5

WACC19.79%

ROIC/WACCN/A

Cap/Depr(3y)49.7%

Cap/Depr(5y)36.59%

Cap/Sales(3y)1.77%

Cap/Sales(5y)1.46%

Profit Quality(3y)372.87%

Profit Quality(5y)751.42%

High Growth Momentum

Growth

EPS 1Y (TTM)-121.21%

EPS 3Y-28.26%

EPS 5Y-10.23%

EPS Q2Q%120%

EPS Next Y461.86%

EPS Next 2Y140.78%

EPS Next 3Y63.9%

EPS Next 5YN/A

Revenue 1Y (TTM)3.16%

Revenue growth 3Y10.55%

Revenue growth 5Y7.19%

Sales Q2Q%13.09%

Revenue Next Year6.33%

Revenue Next 2Y2.89%

Revenue Next 3Y-0.09%

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-20.06%

FCF growth 3Y-20.03%

FCF growth 5Y-20.47%

OCF growth 1Y-18.42%

OCF growth 3Y-19.18%

OCF growth 5Y-20%

MIDLAND STATES BANCORP INC (MSBI) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

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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

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5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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