Stock AnalizMercantile Bank Corp. MBWM
Major Banks · IPO 1998 · data as of November 13, 2026
Mercantile Bank Corp. (MBWM) is a financial company listed in the US with a market value of about $1.1B. In the twelve months to September 30, 2026 it had revenue of $272M and net income of $96M, a net margin of 35.2%.
Its overall Stock Analiz score is 2.8 out of 5 (average). The strongest part is value (4/5); the weakest is future growth (1/5).
Key numbers: a P/E of 10.9, a price to free cash flow of 11.4, 5-year revenue growth of 8% a year. A discounted cash flow model with moderate assumptions puts its intrinsic value about 19% below the current price.
Score: 2.8 / 5
Checks passed
- P/E below 25
- P/E below the industry median
- P/FCF below 20
- PEG below 1.5
- Profit margin improving
- 5-year EPS growth above 10% a year
- Profitable 5 years in a row
- More cash than debt, or low debt to equity
Checks not passed
- Price below intrinsic value (DCF, moderate assumptions)
- Revenue growth above 10% last year
- 3-year revenue growth above 10% a year
- 3-year free cash flow growth above 10% a year
- Strong R&D investment or growth above 20%
- 5-year revenue growth above 8% a year
- 5-year average ROIC above 12%
- ROE above 15%
Valuation
Growth and quality
Financials, last 10 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $272M | $243M | $231M | $226M | $190M | $180M | $167M | $151M | $139M | $129M | $127M |
| Net income | $96M | $89M | $80M | $82M | $61M | $59M | $44M | $49M | $42M | $31M | $32M |
| Free cash flow | $93M | $11M | $93M | $60M | $117M | $59M | $29M | $31M | $55M | $33M | $33M |
| EPS (diluted) | $5.62 | $5.47 | $4.93 | $5.13 | $3.85 | $3.69 | $2.71 | $3.01 | $2.53 | $1.90 | $1.96 |
| Net margin | 35.2% | 36.6% | 34.4% | 36.4% | 32.1% | 32.7% | 26.4% | 32.6% | 30.2% | 24.3% | 25.1% |
| ROIC | — | — | — | — | — | — | — | — | — | — | — |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
What analysts expect
The average 12-month price target from 6 analysts is $64.17, 5% above the current price; targets range from $62.00 to $66.00; the consensus rating is “none”; expected EPS is $5.75 for the fiscal year ending December 31, 2026.
Frequently asked questions
What is Mercantile Bank’s P/E ratio?
About 10.9, based on the last twelve months of diluted earnings per share (forward P/E about 10.8).
Is Mercantile Bank stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 19% below the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does Mercantile Bank pay a dividend?
Yes. The dividend yield is about 2.61%, and it has paid dividends for 10 years in our data.
Is Mercantile Bank a good stock to buy?
We do not give buy or sell advice. Mercantile Bank scores 2.8 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.