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Saturday 17 October 2026 Export MBWM’s income statement to Excel — free account

Mercantile Bank Corporation

MBWM Financial Banks Regional

Mercantile Bank Corporation’s revenue for fiscal 2025 (year ended December 2025) was $371.8 million, up 2.74% from fiscal 2024. In the quarter to June 2026, revenue grew 5.11%, EPS grew 7.91%, free cash flow grew 247.0% and total debt fell 10.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for ten.

58.71 0.39 +0.67%
Market cap
$1.0B
P/E
10.3×
Fwd P/E
9.6×
Dividend yield
2.66%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Mercantile Bank Corporation (MBWM) P/E ratio

Alert me on P/E ratio

As of 16 October 2026, Mercantile Bank Corporation (MBWM) trades at a P/E ratio of 10.3×. Over the past ten years it has ranged from 5.4× (May 2023) to 20.5× (December 2016); the current reading is higher than 48% of that period. That is below the Banks Regional industry median of 12.0× and below the Financial sector median of 12.4×.

P/E ratio, daily

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Annual newest first

Period P/E ratio Change
FY2025 8.8× (1.98%)
FY2024 9.0× 14.52%
FY2023 7.8× (10.21%)
FY2022 8.7× (8.18%)
FY2021 9.5× (4.71%)
FY2020 10.0× (17.56%)
FY2019 12.1× 8.90%
FY2018 11.1× (40.10%)
FY2017 18.6× (3.47%)
FY2016 19.2× 27.80%

Quarterly newest first

Period P/E ratio Change
Jun 2026 10.1× 11.50%
Mar 2026 9.1× 2.92%
Dec 2025 8.8× 3.37%
Sep 2025 8.5× (7.45%)
42 more quarters

Against its own ten years

Low 5.4× High 20.5×
Ten-year median 10.6×
Current reading's percentile 52

P/E ratio against peers

Company P/E ratio
HBNC Horizon Bancorp (IN) compare n/m
NBN Northeast Bancorp compare 9.7×
MBWM Mercantile Bank Corporation 10.3×
CCNE CNB Financial Corporation compare 11.0×
BFST Business First Bancshares, Inc. compare 11.1×
MCBS MetroCity Bankshares, Inc. compare 12.0×
CFFN Capitol Federal Financial compare 12.6×
FSBC Five Star Bancorp compare 12.7×
EQBK Equity Bancshares, Inc. compare 27.9×
Banks Regional industry median 12.0×
Financial sector median 12.4×
Market median 18.1×

What P/E ratio is

Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.

Stock Price ÷ EPS (Basic) (TTM)

The full definition of P/E ratio →

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