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Mercantile Bank (MBWM) Ratios
Mercantile Bank Ratios
MBWM's free cash flow for Q3 2026 was $45.52M. For the 2026 fiscal year, MBWM's free cash flow was decreased by $-1.54M and operating cash flow was $47.06M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 0.29 | 0.23 | 0.18 | 0.18 | 0.36 |
| Quick Ratio | 0.29 | 0.23 | 0.18 | 0.18 | 0.36 |
| Cash Ratio | 0.09 | 0.08 | 0.03 | 0.02 | 0.23 |
| Solvency Ratio | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Operating Cash Flow Ratio | 0.00 | 0.02 | 0.02 | 0.03 | 0.01 |
| Short-Term Operating Cash Flow Coverage | 0.08 | 0.83 | 0.29 | 0.62 | 0.33 |
| Net Current Asset Value | $ -4.53B | $ -4.34B | $ -4.08B | $ -3.73B | $ -3.23B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.12 | 0.11 | 0.16 | 0.13 | 0.13 |
| Debt-to-Equity Ratio | 1.14 | 1.11 | 1.60 | 1.45 | 1.52 |
| Debt-to-Capital Ratio | 0.53 | 0.53 | 0.62 | 0.59 | 0.60 |
| Long-Term Debt-to-Capital Ratio | 0.45 | 0.47 | 0.54 | 0.50 | 0.52 |
| Financial Leverage Ratio | 9.43 | 10.35 | 10.25 | 11.04 | 11.52 |
| Debt Service Coverage Ratio | 0.26 | 0.36 | 0.30 | 0.34 | 0.34 |
| Interest Coverage Ratio | 0.79 | 0.75 | 1.32 | 3.21 | 3.79 |
| Debt to Market Cap | 1.06 | 0.90 | 1.29 | 1.21 | 1.24 |
| Interest Debt Per Share | 58.72 | 48.27 | 57.07 | 41.85 | 44.59 |
| Net Debt to EBITDA | 3.27 | 2.35 | 6.18 | 6.12 | -3.22 |
| Profitability Margins | |||||
| Gross Profit Margin | 64.03% | 61.92% | 71.82% | 85.91% | 92.38% |
| EBIT Margin | 27.46% | 27.16% | 33.84% | 35.43% | 37.11% |
| EBITDA Margin | 29.02% | 30.06% | 37.63% | 41.48% | 43.99% |
| Operating Profit Margin | 27.46% | 27.16% | 33.84% | 35.43% | 37.11% |
| Pretax Profit Margin | 27.46% | 27.16% | 33.84% | 35.43% | 37.11% |
| Net Profit Margin | 23.87% | 21.99% | 27.09% | 28.55% | 29.71% |
| Continuous Operations Profit Margin | 23.87% | 21.99% | 27.09% | 28.55% | 29.71% |
| Net Income Per EBT | 86.93% | 80.98% | 80.06% | 80.57% | 80.07% |
| EBT Per EBIT | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Return on Assets (ROA) | 1.30% | 1.32% | 1.54% | 1.25% | 1.12% |
| Return on Equity (ROE) | 12.24% | 13.62% | 15.75% | 13.83% | 12.93% |
| Return on Capital Employed (ROCE) | 7.74% | 7.98% | 8.40% | 8.54% | 7.74% |
| Return on Invested Capital (ROIC) | 5.72% | 5.88% | 5.66% | 5.65% | 5.13% |
| Return on Tangible Assets | 1.32% | 1.33% | 1.55% | 1.27% | 1.13% |
| Earnings Yield | 11.35% | 11.09% | 12.71% | 11.50% | 10.54% |
| Efficiency Ratios | |||||
| Receivables Turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payables Turnover | 0.00 | 0.00 | 0.00 | 0.39 | 0.61 |
| Inventory Turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Fixed Asset Turnover | 5.95 | 6.77 | 5.96 | 4.16 | 3.47 |
| Asset Turnover | 0.05 | 0.06 | 0.06 | 0.04 | 0.04 |
| Working Capital Turnover Ratio | -0.10 | -0.10 | -0.09 | -0.07 | -0.08 |
| Cash Conversion Cycle | 0.00 | 0.00 | 0.00 | -946.99 | -594.44 |
| 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 | 946.99 | 594.44 |
| Operating Cycle | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 1.11 | 6.27 | 4.16 | 7.56 | 4.04 |
| Free Cash Flow Per Share | 0.69 | 5.74 | 3.74 | 7.37 | 3.69 |
| Dividend Paid and CapEx Coverage Ratio | 0.59 | 3.26 | 2.41 | 5.30 | 2.68 |
| Capital Expenditure Coverage Ratio | 2.66 | 11.85 | 9.96 | 39.73 | 11.53 |
| Operating Cash Flow Coverage Ratio | 0.02 | 0.16 | 0.08 | 0.19 | 0.09 |
| Operating Cash Flow to Sales Ratio | 0.05 | 0.28 | 0.22 | 0.56 | 0.33 |
| Free Cash Flow Yield | 1.43% | 12.90% | 9.27% | 22.01% | 10.53% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 8.81 | 9.02 | 7.87 | 8.70 | 9.49 |
| Price-to-Sales (P/S) Ratio | 2.10 | 1.98 | 2.13 | 2.48 | 2.82 |
| Price-to-Book (P/B) Ratio | 1.08 | 1.23 | 1.24 | 1.20 | 1.23 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 69.79 | 7.75 | 10.79 | 4.54 | 9.50 |
| Price-to-Operating Cash Flow Ratio | 43.53 | 7.10 | 9.71 | 4.43 | 8.67 |
| Price-to-Earnings Growth (PEG) Ratio | 0.82 | -2.31 | 0.24 | 2.01 | 0.26 |
| Enterprise Value Multiple | 10.52 | 8.94 | 11.84 | 12.11 | 3.18 |
| Enterprise Value | 1.13B | 972.91M | 1.35B | 1.07B | 278.22M |
| EV to EBITDA | 10.52 | 8.94 | 11.84 | 12.11 | 3.18 |
| EV to Sales | 3.05 | 2.69 | 4.46 | 5.02 | 1.40 |
| EV to Free Cash Flow | 101.24 | 10.51 | 22.57 | 9.20 | 4.72 |
| EV to Operating Cash Flow | 63.14 | 9.62 | 20.30 | 8.96 | 4.31 |
| Tangible Book Value Per Share | 38.85 | 33.17 | 28.80 | 24.68 | 25.38 |
| Shareholders’ Equity Per Share | 44.57 | 36.24 | 32.60 | 27.83 | 28.56 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.13 | 0.19 | 0.20 | 0.19 | 0.20 |
| Revenue Per Share | 22.86 | 22.43 | 18.95 | 13.49 | 12.43 |
| Net Income Per Share | 5.46 | 4.93 | 5.13 | 3.85 | 3.69 |
| Tax Burden | 0.87 | 0.81 | 0.80 | 0.81 | 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 | 0.30 | 0.23 | 0.23 | 0.31 | 0.34 |
| Stock-Based Compensation to Revenue | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 |
| Income Quality | 0.20 | 1.27 | 0.81 | 1.96 | 1.09 |
Currency in USD