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STOCKS

Mercantile Bank Corp. (MBWM)

NASDAQ:MBWM

MBWM

Mercantile Bank

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Mercantile Bank (MBWM) Ratios

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Mercantile Bank Ratios

MBWM's free cash flow for Q1 2025 was $0.62. For the 2025 fiscal year, MBWM's free cash flow was decreased by $ and operating cash flow was $0.27. See a summary of the company’s cash flow.

Ratios	TTM	Dec 24	Dec 23	Dec 22	Dec 21
Liquidity Ratios
Current Ratio	0.18	0.18	8.95	63.62	41.69
Quick Ratio	0.18	0.18	8.95	63.62	41.69
Cash Ratio	0.08	0.03	1.24	39.57	25.75
Solvency Ratio	0.02	0.02	0.02	0.02	0.01
Operating Cash Flow Ratio	0.01	0.02	1.53	2.62	1.56
Short-Term Operating Cash Flow Coverage	0.19	0.29	0.00	0.00	0.00
Net Current Asset Value	$ -4.61B	$ -4.08B	$ -3.73B	$ -3.23B	$ -2.98B
Leverage Ratios
Debt-to-Assets Ratio	0.12	0.16	0.09	0.09	0.10
Debt-to-Equity Ratio	1.23	1.60	1.01	1.09	1.00
Debt-to-Capital Ratio	0.55	0.62	0.50	0.52	0.50
Long-Term Debt-to-Capital Ratio	0.42	0.54	0.50	0.52	0.50
Financial Leverage Ratio	10.09	10.25	11.04	11.52	10.05
Debt Service Coverage Ratio	0.20	0.30	3.14	3.74	2.05
Interest Coverage Ratio	0.72	1.32	4.21	3.79	2.10
Debt to Market Cap	0.95	1.29	0.84	0.89	1.00
Interest Debt Per Share	54.39	57.07	29.60	32.23	28.74
Net Debt to EBITDA	3.46	6.18	3.93	-5.48	-2.87
Profitability Margins
Gross Profit Margin	61.18%	71.82%	100.00%	100.00%	100.00%
EBIT Margin	26.24%	33.84%	39.82%	41.13%	32.76%
EBITDA Margin	28.82%	37.63%	46.62%	48.76%	38.39%
Operating Profit Margin	26.24%	33.84%	52.22%	41.13%	32.76%
Pretax Profit Margin	26.24%	33.84%	39.82%	41.13%	32.76%
Net Profit Margin	21.35%	27.09%	32.08%	32.93%	26.36%
Continuous Operations Profit Margin	21.35%	27.09%	32.08%	32.93%	26.36%
Net Income Per EBT	81.35%	80.06%	80.57%	80.07%	80.47%
EBT Per EBIT	100.00%	100.00%	76.26%	100.00%	100.00%
Return on Assets (ROA)	1.26%	1.54%	1.25%	1.12%	0.99%
Return on Equity (ROE)	13.33%	15.75%	13.83%	12.93%	10.00%
Return on Capital Employed (ROCE)	8.24%	8.40%	2.07%	1.41%	1.24%
Return on Invested Capital (ROIC)	5.31%	5.66%	6.04%	2.63%	2.97%
Return on Tangible Assets	1.27%	1.55%	1.27%	1.13%	1.01%
Earnings Yield	10.02%	12.71%	11.50%	10.54%	9.99%
Efficiency Ratios
Receivables Turnover	0.00	0.00	0.00	0.00	0.00
Payables Turnover	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.77	5.96	3.70	3.13	2.84
Asset Turnover	0.06	0.06	0.04	0.03	0.04
Working Capital Turnover Ratio	-0.09	-0.09	0.18	0.14	0.22
Cash Conversion Cycle	0.00	0.00	0.00	0.00	0.00
Days of Sales Outstanding	0.00	0.00	0.00	0.00	0.00
Days of Inventory Outstanding	0.00	0.00	0.00	0.00	0.00
Days of Payables Outstanding	0.00	0.00	0.00	0.00	0.00
Operating Cycle	0.00	0.00	0.00	0.00	0.00
Cash Flow Ratios
Operating Cash Flow Per Share	3.57	4.16	7.56	4.04	2.33
Free Cash Flow Per Share	3.04	3.74	7.37	3.69	1.78
CapEx Per Share	0.53	0.42	0.19	0.35	0.55
Free Cash Flow to Operating Cash Flow	0.85	0.90	0.97	0.91	0.76
Dividend Paid and CapEx Coverage Ratio	1.84	2.41	5.30	2.68	1.41
Capital Expenditure Coverage Ratio	6.73	9.96	39.73	11.53	4.21
Operating Cash Flow Coverage Ratio	0.08	0.08	0.27	0.13	0.09
Operating Cash Flow to Sales Ratio	0.16	0.22	0.63	0.36	0.23
Free Cash Flow Yield	6.35%	9.27%	22.01%	10.53%	6.54%
Valuation Ratios
Price-to-Earnings (P/E) Ratio	10.12	7.87	8.70	9.49	10.01
Price-to-Sales (P/S) Ratio	2.17	2.13	2.79	3.12	2.64
Price-to-Book (P/B) Ratio	1.29	1.24	1.20	1.23	1.00
Price-to-Free Cash Flow (P/FCF) Ratio	15.96	10.79	4.54	9.50	15.30
Price-to-Operating Cash Flow Ratio	13.56	9.71	4.43	8.67	11.67
Price-to-Earnings Growth (PEG) Ratio	-3.85	0.24	2.01	0.26	-1.00
Price-to-Fair Value	1.29	1.24	1.20	1.23	1.00
Enterprise Value Multiple	10.98	11.84	9.92	0.92	4.01
Enterprise Value	1.14B	1.35B	880.07M	80.75M	257.58M
EV to EBITDA	10.87	11.84	9.92	0.92	4.01
EV to Sales	3.13	4.46	4.62	0.45	1.54
EV to Free Cash Flow	23.10	22.57	7.53	1.37	8.92
EV to Operating Cash Flow	19.67	20.30	7.34	1.25	6.80
Tangible Book Value Per Share	34.50	29.51	24.68	25.38	23.95
Shareholders’ Equity Per Share	37.56	32.60	27.83	28.56	27.14
Tax and Other Ratios
Effective Tax Rate	0.19	0.20	0.19	0.20	0.20
Revenue Per Share	22.43	18.95	12.00	11.21	10.29
Net Income Per Share	4.79	5.13	3.85	3.69	2.71
Tax Burden	0.81	0.80	0.81	0.80	0.80
Interest Burden	1.00	1.00	1.00	1.00	1.00
Research & Development to Revenue	0.00	0.00	0.00	0.00	0.00
SG&A to Revenue	0.22	0.23	0.41	0.43	0.42
Stock-Based Compensation to Revenue	<0.01	0.01	0.02	0.02	0.01
Income Quality	0.75	0.81	1.96	1.09	0.86

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