MBWM: Mercantile Bank Corp Financial Statements
Balance sheet, income statement, and cash flow statements for Mercantile Bank Corp (MBWM).
$718.15M Market Cap.
MBWM Market Cap. (MRY)
MBWM Shares Outstanding (MRY)
MBWM Assets (MRY)
Total Assets
$6.05B
Total Liabilities
$5.47B
Total Investments
$5.31B
MBWM Income (MRY)
Revenue
$224.07M
Net Income
$79.59M
Operating Expense
$125.79M
MBWM Cash Flow (MRY)
CF Operations
$101.12M
CF Investing
-$425.44M
CF Financing
$586.79M
MBWM Balance Sheet (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total Assets | $6,052,161,000 (13.06%) | $5,353,224,000 (9.86%) | $4,872,619,000 (-7.32%) | $5,257,749,000 (18.49%) |
Assets Current | - | - | - | - |
Assets Non-Current | - | - | - | - |
Goodwill & Intangible Assets | $49,473,000 (0.00%) | $49,473,000 (-1.16%) | $50,056,000 (-1.51%) | $50,824,000 (-2.09%) |
Shareholders Equity | $584,526,000 (11.95%) | $522,145,000 (18.29%) | $441,408,000 (-3.32%) | $456,559,000 (3.40%) |
Property Plant & Equipment Net | $53,427,000 (4.91%) | $50,928,000 (-1.06%) | $51,476,000 (-10.16%) | $57,298,000 (-2.82%) |
Cash & Equivalents | $393,010,000 (201.08%) | $130,533,000 (34.89%) | $96,772,000 (-90.08%) | $975,160,000 (55.77%) |
Accumulated Other Comprehensive Income | -$49,825,000 (1.31%) | -$50,487,000 (22.73%) | -$65,341,000 (-1652.24%) | -$3,729,000 (-167.97%) |
Deferred Revenue | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Total Investments | $5,314,016,000 (8.21%) | $4,911,056,000 (9.17%) | $4,498,595,000 (11.21%) | $4,044,958,000 (12.87%) |
Investments Current | - | - | - | - |
Investments Non-Current | - | - | - | - |
Inventory | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Trade & Non-Trade Receivables | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Trade & Non-Trade Payables | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Accumulated Retained Earnings (Deficit) | $334,646,000 (20.58%) | $277,526,000 (28.30%) | $216,313,000 (23.94%) | $174,536,000 (30.21%) |
Tax Assets | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Tax Liabilities | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Total Debt | $648,248,000 (-22.48%) | $836,259,000 (30.63%) | $640,189,000 (-7.67%) | $693,353,000 (23.83%) |
Debt Current | - | - | - | - |
Debt Non-Current | - | - | - | - |
Total Liabilities | $5,467,635,000 (13.18%) | $4,831,079,000 (9.02%) | $4,431,211,000 (-7.71%) | $4,801,190,000 (20.16%) |
Liabilities Current | - | - | - | - |
Liabilities Non-Current | - | - | - | - |
MBWM Income Statement (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Revenues | $224,075,000 (2.79%) | $217,988,000 (18.62%) | $183,771,000 (-0.44%) | $184,582,000 (20.35%) |
Cost of Revenue | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Selling General & Administrative Expense | $105,659,000 (11.69%) | $94,598,000 (4.06%) | $90,904,000 (0.48%) | $90,468,000 (9.22%) |
Research & Development Expense | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Operating Expenses | $125,789,000 (9.11%) | $115,289,000 (6.77%) | $107,981,000 (-2.60%) | $110,866,000 (12.53%) |
Interest Expense | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Income Tax Expense | $18,693,000 (-8.73%) | $20,482,000 (39.08%) | $14,727,000 (0.22%) | $14,695,000 (37.21%) |
Net Loss Income from Discontinued Operations | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Consolidated Income | $79,593,000 (-3.19%) | $82,217,000 (34.64%) | $61,063,000 (3.46%) | $59,021,000 (33.72%) |
Net Income to Non-Controlling Interests | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Net Income | $79,593,000 (-3.19%) | $82,217,000 (34.64%) | $61,063,000 (3.46%) | $59,021,000 (33.72%) |
Preferred Dividends Income Statement Impact | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Net Income Common Stock | $79,593,000 (-3.19%) | $82,217,000 (34.64%) | $61,063,000 (3.46%) | $59,021,000 (33.72%) |
Weighted Average Shares | $16,141,929 (0.73%) | $16,024,557 (1.00%) | $15,866,185 (1.25%) | $15,670,645 (-3.47%) |
Weighted Average Shares Diluted | - | - | - | - |
Earning Before Interest & Taxes (EBIT) | $98,286,000 (-4.30%) | $102,699,000 (35.50%) | $75,790,000 (2.81%) | $73,716,000 (34.40%) |
Gross Profit | $224,075,000 (2.79%) | $217,988,000 (18.62%) | $183,771,000 (-0.44%) | $184,582,000 (20.35%) |
Operating Income | $98,286,000 (-4.30%) | $102,699,000 (35.50%) | $75,790,000 (2.81%) | $73,716,000 (34.40%) |
MBWM Cash Flow Statement (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Net Cash Flow from Investing | -$425,436,000 (-7.45%) | -$395,932,000 (28.66%) | -$554,999,000 (-12.01%) | -$495,507,000 (-24.25%) |
Net Cash Flow from Financing | $586,795,000 (61.62%) | $363,080,000 (181.91%) | -$443,251,000 (-156.82%) | $780,088,000 (3.57%) |
Net Cash Flow from Operations | $101,118,000 (51.80%) | $66,613,000 (-44.43%) | $119,862,000 (85.62%) | $64,573,000 (70.48%) |
Net Cash Flow / Change in Cash & Cash Equivalents | $262,477,000 (677.46%) | $33,761,000 (103.84%) | -$878,388,000 (-351.58%) | $349,154,000 (-10.99%) |
Net Cash Flow - Business Acquisitions and Disposals | $0 (0%) | $0 (0%) | $0 (0%) | -$2,679,000 (0%) |
Net Cash Flow - Investment Acquisitions and Disposals | -$411,836,000 (-6.45%) | -$386,874,000 (29.81%) | -$551,173,000 (-13.37%) | -$486,175,000 (-24.67%) |
Capital Expenditure | -$8,247,000 (-35.44%) | -$6,089,000 (-26373.91%) | -$23,000 (99.53%) | -$4,849,000 (45.07%) |
Issuance (Repayment) of Debt Securities | -$189,040,000 (-196.92%) | $195,041,000 (459.75%) | -$54,215,000 (-140.85%) | $132,733,000 (138.34%) |
Issuance (Purchase) of Equity Shares | $860,000 (-8.12%) | $936,000 (-1.27%) | $948,000 (104.65%) | -$20,405,000 (-256.42%) |
Payment of Dividends & Other Cash Distributions | -$22,473,000 (-6.99%) | -$21,004,000 (-7.15%) | -$19,602,000 (-5.82%) | -$18,524,000 (-3.31%) |
Effect of Exchange Rate Changes on Cash | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Share Based Compensation | $3,739,000 (0.13%) | $3,734,000 (-0.05%) | $3,736,000 (-9.50%) | $4,128,000 (51.82%) |
Depreciation Amortization & Accretion | $10,505,000 (-8.62%) | $11,496,000 (-11.19%) | $12,945,000 (-5.36%) | $13,678,000 (45.12%) |
MBWM Financial Metrics (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Gross Margin | 100.00% (0.00%) | 100.00% (0.00%) | 100.00% (0.00%) | 100.00% (0.00%) |
Profit Margin | 35.50% (-5.84%) | 37.70% (13.55%) | 33.20% (3.75%) | 32.00% (11.11%) |
EBITDA Margin | 48.60% (-7.25%) | 52.40% (8.49%) | 48.30% (2.11%) | 47.30% (12.89%) |
Return on Average Equity (ROAE) | 14.10% (-16.57%) | 16.90% (19.01%) | 14.20% (8.40%) | 13.10% (27.18%) |
Return on Average Assets (ROAA) | 1.40% (-12.50%) | 1.60% (33.33%) | 1.20% (0.00%) | 1.20% (20.00%) |
Return on Sales (ROS) | 43.90% (-6.79%) | 47.10% (14.32%) | 41.20% (3.26%) | 39.90% (11.45%) |
Return on Invested Capital (ROIC) | 1.60% (-11.11%) | 1.80% (28.57%) | 1.40% (-12.50%) | 1.60% (23.08%) |
Dividend Yield | 3.20% (-3.03%) | 3.30% (-13.16%) | 3.80% (11.76%) | 3.40% (-17.07%) |
Price to Earnings Ratio (P/E) | 9.02 (14.65%) | 7.87 (-9.49%) | 8.7 (-8.40%) | 9.49 (-5.32%) |
Price to Sales Ratio (P/S) | 3.21 (7.99%) | 2.97 (2.66%) | 2.89 (-2.79%) | 2.97 (3.41%) |
Price to Book Ratio (P/B) | 1.23 (-0.81%) | 1.24 (2.99%) | 1.2 (0.08%) | 1.2 (20.32%) |
Debt to Equity Ratio (D/E) | 9.35 (1.10%) | 9.25 (-7.84%) | 10.04 (-4.54%) | 10.52 (16.21%) |
Earnings Per Share (EPS) | 4.93 (-3.90%) | 5.13 (33.25%) | 3.85 (4.34%) | 3.69 (36.16%) |
Sales Per Share (SPS) | 13.88 (2.05%) | 13.6 (17.44%) | 11.58 (-1.66%) | 11.78 (24.67%) |
Free Cash Flow Per Share (FCFPS) | 5.75 (52.32%) | 3.78 (-49.99%) | 7.55 (98.19%) | 3.81 (113.02%) |
Book Value Per Share (BVPS) | 36.21 (11.13%) | 32.58 (17.12%) | 27.82 (-4.51%) | 29.14 (7.11%) |
Tangible Assets Book Value Per Share (TABVPS) | 371.87 (12.36%) | 330.98 (8.89%) | 303.95 (-8.52%) | 332.27 (23.00%) |
Enterprise Value Over EBIT (EV/EBIT) | 12 (9.09%) | 11 (-8.33%) | 12 (140.00%) | 5 (-44.44%) |
Enterprise Value Over EBITDA (EV/EBITDA) | 10.73 (7.32%) | 9.99 (-3.75%) | 10.38 (165.71%) | 3.91 (-48.20%) |
Asset Turnover | 0.04 (-7.14%) | 0.04 (13.51%) | 0.04 (0.00%) | 0.04 (2.78%) |
Current Ratio | - | - | - | - |
Dividends | $1.42 (5.97%) | $1.34 (6.35%) | $1.26 (6.78%) | $1.18 (5.36%) |
Free Cash Flow (FCF) | $92,871,000 (53.44%) | $60,524,000 (-49.50%) | $119,839,000 (100.65%) | $59,724,000 (105.59%) |
Enterprise Value (EV) | $1,167,013,421 (2.24%) | $1,141,434,612 (23.88%) | $921,382,874 (169.80%) | $341,505,694 (-29.57%) |
Earnings Before Tax (EBT) | $98,286,000 (-4.30%) | $102,699,000 (35.50%) | $75,790,000 (2.81%) | $73,716,000 (34.40%) |
Earnings Before Interest Taxes & Depreciation Amortization (EBITDA) | $108,791,000 (-4.73%) | $114,195,000 (28.69%) | $88,735,000 (1.53%) | $87,394,000 (35.97%) |
Invested Capital | $6,257,926,000 (4.13%) | $6,009,477,000 (11.99%) | $5,365,980,000 (8.95%) | $4,925,118,000 (14.02%) |
Working Capital | - | - | - | - |
Tangible Asset Value | $6,002,688,000 (13.18%) | $5,303,751,000 (9.98%) | $4,822,563,000 (-7.38%) | $5,206,925,000 (18.73%) |
Market Capitalization | $718,154,421 (10.99%) | $647,071,612 (21.81%) | $531,199,874 (-3.23%) | $548,942,694 (24.46%) |
Average Equity | $563,908,000 (15.59%) | $487,857,500 (13.25%) | $430,780,750 (-4.38%) | $450,492,000 (4.94%) |
Average Assets | $5,759,407,250 (11.63%) | $5,159,424,250 (2.55%) | $5,031,001,750 (2.20%) | $4,922,482,250 (16.99%) |
Invested Capital Average | $6,177,914,500 (7.63%) | $5,739,778,750 (9.16%) | $5,258,272,750 (12.00%) | $4,694,679,250 (9.99%) |
Shares | 16,141,929 (0.73%) | 16,024,557 (1.00%) | 15,866,185 (1.25%) | 15,670,645 (-3.47%) |
