MIDLAND STATES BANCORP INC (MSBI) Fundamental Analysis & Valuation

NASDAQ:MSBI • US5977421057

21.21 USD
-0.69 (-3.15%)
At close: Mar 6, 2026
21.21 USD
0 (0%)
After Hours: 3/6/2026, 8:00:02 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This MSBI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

Overall MSBI gets a fundamental rating of 4 out of 10. We evaluated MSBI against 381 industry peers in the Banks industry. MSBI has a bad profitability rating. Also its financial health evaluation is rather negative. MSBI is valued quite cheap, but it does not seem to be growing. Finally MSBI also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

2

1. MSBI Profitability Analysis

1.1 Basic Checks

  • MSBI had positive earnings in the past year.
  • MSBI had a positive operating cash flow in the past year.
  • MSBI had positive earnings in 4 of the past 5 years.
  • Of the past 5 years MSBI 4 years had a positive operating cash flow.
MSBI Yearly Net Income VS EBIT VS OCF VS FCFMSBI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

1.2 Ratios

  • MSBI has a worse Return On Assets (-1.91%) than 96.57% of its industry peers.
  • MSBI has a worse Return On Equity (-22.55%) than 96.31% of its industry peers.
Industry RankSector Rank
ROA -1.91%
ROE -22.55%
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
MSBI Yearly ROA, ROE, ROICMSBI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • In the last couple of years the Profit Margin of MSBI has declined.
  • MSBI does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector 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
MSBI Yearly Profit, Operating, Gross MarginsMSBI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20 25

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3

2. MSBI Health Analysis

2.1 Basic Checks

  • MSBI does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • MSBI has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
MSBI Yearly Shares OutstandingMSBI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
MSBI Yearly Total Debt VS Total AssetsMSBI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

  • The Debt to FCF ratio of MSBI is 1.01, which is an excellent value as it means it would take MSBI, only 1.01 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 1.01, MSBI is in the better half of the industry, outperforming 66.75% of the companies in the same industry.
  • MSBI has a Debt/Equity ratio of 0.39. This is a healthy value indicating a solid balance between debt and equity.
  • MSBI's Debt to Equity ratio of 0.39 is on the low side compared to the rest of the industry. MSBI is outperformed by 72.56% of its industry peers.
  • Although MSBI's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 1.01
Altman-Z N/A
ROIC/WACCN/A
WACC18.75%
MSBI Yearly LT Debt VS Equity VS FCFMSBI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MSBI Yearly Current Assets VS Current LiabilitesMSBI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. MSBI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 342.86% over the past year.
  • MSBI shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.26% yearly.
EPS 1Y (TTM)342.86%
EPS 3Y-26.2%
EPS 5Y2.26%
EPS Q2Q%124.42%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%13.19%

3.2 Future

  • Based on estimates for the next years, MSBI will show a very strong growth in Earnings Per Share. The EPS will grow by 28.43% on average per year.
  • Based on estimates for the next years, MSBI will show a decrease in Revenue. The Revenue will decrease by -0.88% on average per year.
EPS Next Y59.01%
EPS Next 2Y28.43%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-3.74%
Revenue Next 2Y-0.88%
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.
MSBI Yearly Revenue VS EstimatesMSBI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 100M 200M 300M
MSBI Yearly EPS VS EstimatesMSBI Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2 4 -4

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7

4. MSBI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 12.48, the valuation of MSBI can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of MSBI is on the same level as its industry peers.
  • MSBI's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.29.
  • A Price/Forward Earnings ratio of 7.85 indicates a rather cheap valuation of MSBI.
  • MSBI's Price/Forward Earnings ratio is rather cheap when compared to the industry. MSBI is cheaper than 88.65% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 24.57. MSBI is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 12.48
Fwd PE 7.85
MSBI Price Earnings VS Forward Price EarningsMSBI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • MSBI's Price/Free Cash Flow ratio is rather cheap when compared to the industry. MSBI is cheaper than 98.68% of the companies in the same industry.
Industry RankSector Rank
P/FCF 2.01
EV/EBITDA N/A
MSBI Per share dataMSBI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20 25

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 28.43% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.21
PEG (5Y)5.51
EPS Next 2Y28.43%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

8

5. MSBI Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 7.64%, MSBI is a good candidate for dividend investing.
  • MSBI's Dividend Yield is rather good when compared to the industry average which is at 2.83. MSBI pays more dividend than 92.35% of the companies in the same industry.
  • MSBI's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 7.64%

5.2 History

  • The dividend of MSBI is nicely growing with an annual growth rate of 11.10%!
  • MSBI has been paying a dividend for at least 10 years, so it has a reliable track record.
  • As MSBI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)11.1%
Div Incr Years8
Div Non Decr Years8
MSBI Yearly Dividends per shareMSBI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • MSBI has negative earnings and hence a negative payout ratio. The dividend may be in danger.
  • The dividend of MSBI is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-27.55%
EPS Next 2Y28.43%
EPS Next 3YN/A
MSBI Yearly Income VS Free CF VS DividendMSBI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

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MSBI Fundamentals: All Metrics, Ratios and Statistics

MIDLAND STATES BANCORP INC

NASDAQ:MSBI (3/6/2026, 8:00:02 PM)

After market: 21.21 0 (0%)

21.21

-0.69 (-3.15%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-22
Earnings (Next)N/A
Inst Owners66.63%
Inst Owner Change-1.45%
Ins Owners4.18%
Ins Owner Change6.83%
Market Cap449.02M
Revenue(TTM)N/A
Net Income(TTM)-131.70M
Analysts50
Price Target24.35 (14.8%)
Short Float %2.48%
Short Ratio2.95
Dividend
Industry RankSector Rank
Dividend Yield 7.64%
Yearly Dividend1.67
Dividend Growth(5Y)11.1%
DP-27.55%
Div Incr Years8
Div Non Decr Years8
Ex-Date02-13
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-47.38%
Min EPS beat(2)-63.37%
Max EPS beat(2)-31.39%
EPS beat(4)0
Avg EPS beat(4)-130.7%
Min EPS beat(4)-414.99%
Max EPS beat(4)-13.04%
EPS beat(8)2
Avg EPS beat(8)-75.78%
EPS beat(12)5
Avg EPS beat(12)-50.36%
EPS beat(16)9
Avg EPS beat(16)-36.36%
Revenue beat(2)2
Avg Revenue beat(2)3.82%
Min Revenue beat(2)0.64%
Max Revenue beat(2)7%
Revenue beat(4)3
Avg Revenue beat(4)1.62%
Min Revenue beat(4)-1.9%
Max Revenue beat(4)7%
Revenue beat(8)5
Avg Revenue beat(8)0.55%
Revenue beat(12)6
Avg Revenue beat(12)1.33%
Revenue beat(16)7
Avg Revenue beat(16)1.02%
PT rev (1m)22.44%
PT rev (3m)38.41%
EPS NQ rev (1m)0%
EPS NQ rev (3m)15.14%
EPS NY rev (1m)0%
EPS NY rev (3m)-13.53%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.11%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.86%
Valuation
Industry RankSector Rank
PE 12.48
Fwd PE 7.85
P/S 1.15
P/FCF 2.01
P/OCF 1.94
P/B 0.77
P/tB 0.82
EV/EBITDA N/A
EPS(TTM)1.7
EY8.02%
EPS(NY)2.7
Fwd EY12.74%
FCF(TTM)10.57
FCFY49.83%
OCF(TTM)10.92
OCFY51.46%
SpS18.44
BVpS27.59
TBVpS25.99
PEG (NY)0.21
PEG (5Y)5.51
Graham Number32.48
Profitability
Industry RankSector Rank
ROA -1.91%
ROE -22.55%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM 57.31%
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
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-35.9%
PM growth 5Y-18.2%
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.06
Health
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 1.01
Debt/EBITDA N/A
Cap/Depr 77.61%
Cap/Sales 1.88%
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-Score4
WACC18.75%
ROIC/WACCN/A
Cap/Depr(3y)55.59%
Cap/Depr(5y)40.13%
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)342.86%
EPS 3Y-26.2%
EPS 5Y2.26%
EPS Q2Q%124.42%
EPS Next Y59.01%
EPS Next 2Y28.43%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%13.19%
Revenue Next Year-3.74%
Revenue Next 2Y-0.88%
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 1Y150%
FCF growth 3Y-20.03%
FCF growth 5Y-20.47%
OCF growth 1Y135.79%
OCF growth 3Y-19.18%
OCF growth 5Y-20%

MIDLAND STATES BANCORP INC / MSBI FAQ

Can you provide the ChartMill fundamental rating for MIDLAND STATES BANCORP INC?

ChartMill assigns a fundamental rating of 4 / 10 to MSBI.


Can you provide the valuation status for MIDLAND STATES BANCORP INC?

ChartMill assigns a valuation rating of 7 / 10 to MIDLAND STATES BANCORP INC (MSBI). This can be considered as Undervalued.


How profitable is MIDLAND STATES BANCORP INC (MSBI) stock?

MIDLAND STATES BANCORP INC (MSBI) has a profitability rating of 2 / 10.


What are the PE and PB ratios of MIDLAND STATES BANCORP INC (MSBI) stock?

The Price/Earnings (PE) ratio for MIDLAND STATES BANCORP INC (MSBI) is 12.48 and the Price/Book (PB) ratio is 0.77.


Can you provide the expected EPS growth for MSBI stock?

The Earnings per Share (EPS) of MIDLAND STATES BANCORP INC (MSBI) is expected to grow by 59.01% in the next year.