Saturday 17 October 2026
Export MSBI’s income statement to Excel — free account
Midland States Bancorp, Inc.
MSBI Financial Banks Regional
Midland States Bancorp, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $476.0 million, down 15.7% from fiscal 2024. In the quarter to June 2026, revenue fell 7.83%, EPS grew 86.4%, free cash flow grew 9.48% and total debt fell 28.9%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
32.22
0.08
−0.25%
Follow MSBI
| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
16.21 | 34.18 | 13.62 | 12.70 | 18.67 | 6.92 | 6.26 | 8.43 | 15.76 | 0.00 |
Piotroski F-Score |
4 | 4 | 6 | 5 | 6 | 7 | 7 | 6 | 6 | 3 |
P/S ratio |
2.59 | 2.72 | 1.75 | 2.17 | 1.36 | 1.81 | 1.28 | 1.15 | 0.94 | 0.97 |
P/FCF ratio |
22.83 | 8.42 | 5.02 | 1.31 | 0.83 | 1.61 | 1.98 | 3.76 | 2.83 | 3.36 |
P/Operating CF |
(81.59) | 74.90 | 16.58 | 7.60 | 4.47 | 16.71 | 7.43 | 7.08 | 9.55 | (65.45) |
P/B ratio |
1.56 | 1.29 | 0.85 | 1.06 | 0.67 | 0.84 | 0.91 | 1.01 | 0.88 | 1.02 |
Price to Tangible BV |
2.53 | 2.18 | 1.49 | 1.75 | 1.07 | 1.18 | 1.22 | 1.50 | 1.31 | 1.09 |
EV/Sales |
3.31 | 4.71 | 3.68 | 3.16 | 3.51 | 1.22 | 2.25 | 2.06 | 1.42 | 1.48 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
26.52 | 14.19 | 11.18 | 1.91 | 2.15 | 1.12 | 3.65 | 7.14 | 4.55 | 5.62 |
EV/FCF |
29.14 | 14.59 | 10.55 | 1.91 | 2.15 | 1.08 | 3.47 | 6.75 | 4.29 | 5.13 |
Quick Ratio |
0.08 | 0.07 | 0.05 | 0.09 | 0.07 | 0.11 | 0.02 | 0.02 | 0.02 | 0.02 |
Current Ratio |
1.02 | 1.06 | 1.04 | 1.04 | 1.07 | 0.94 | 0.99 | 0.95 | 0.86 | 0.80 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
10.19% | 14.45% | 13.88% | 11.80% | 14.53% | 6.70% | 7.76% | 7.96% | 5.15% | 5.71% |
Debt/Equity |
1.02 | 1.42 | 1.29 | 1.09 | 1.61 | 0.75 | 0.80 | 0.87 | 0.54 | 0.66 |
Asset Turnover |
0.06 | 0.06 | 0.06 | 0.06 | 0.05 | 0.04 | 0.06 | 0.07 | 0.07 | 0.07 |
Operating CF/Net income |
0.77 | 4.41 | 2.47 | 9.66 | 22.15 | 4.11 | 2.94 | 2.94 | 6.06 | (0.94) |
Capex/Depreciation |
(0.14) | (0.12) | 0.29 | (0.10) | (0.11) | (0.10) | (0.20) | (0.84) | (1.08) | (0.04) |
| 11.31% | 4.16% | 7.47% | 8.79% | 3.51% | 12.65% | 14.80% | 8.34% | 4.84% | (25.24%) | |
| 1.03% | 0.42% | 0.78% | 0.95% | 0.35% | 1.14% | 1.27% | 0.67% | 0.38% | (1.90%) | |
ROIC |
6.84% | 1.90% | 2.70% | 4.82% | 2.19% | 12.85% | 6.80% | 4.58% | 3.48% | (8.82%) |
Return on Tangible Assets |
28.48% | 5.66% | 14.14% | 21.00% | 5.00% | (27.43%) | 245.72% | (20.51%) | (3.73%) | 12.70% |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
64.53% | 74.94% | 65.77% | 56.02% | 68.28% | 56.09% | 58.32% | 50.93% | 56.00% | 59.23% |
Intangible Assets out of Total Assets |
0.04 | 0.04 | 0.05 | 0.04 | 0.03 | 0.03 | 0.02 | 0.03 | 0.03 | 0.00 |
Share Based Compensation of Revenue |
0.25% | 0.65% | 0.52% | 0.73% | 0.71% | 0.63% | 0.48% | 0.47% | 0.54% | 0.61% |
Graham Net Nets |
(0.66) | (0.81) | (1.24) | (0.89) | (1.68) | (1.57) | (1.09) | (1.57) | (2.37) | (3.26) |
Graham Number |
33.48 | 23.17 | 31.09 | 37.39 | 23.95 | 48.77 | 52.60 | 44.85 | 31.02 | 0.00 |
Earnings Yield |
6.17% | 2.93% | 7.34% | 7.87% | 5.36% | 14.44% | 15.98% | 11.86% | 6.34% | (28.47%) |
Free Cash Flow Yield |
4.38% | 11.87% | 19.91% | 76.26% | 119.86% | 62.22% | 50.60% | 26.59% | 35.28% | 29.80% |
Revenue per Share |
13.68 | 11.95 | 12.76 | 13.37 | 13.12 | 13.69 | 20.71 | 24.05 | 25.99 | 21.80 |
Operating CF per Share |
1.71 | 3.96 | 4.20 | 22.18 | 21.39 | 14.88 | 12.79 | 6.93 | 8.12 | 5.76 |
Capex per Share |
(0.15) | (0.11) | 0.25 | (0.09) | (0.11) | (0.09) | (0.15) | (0.39) | (0.32) | (0.24) |
Free Cash Flow per Share |
1.55 | 3.86 | 4.45 | 22.08 | 21.28 | 14.78 | 12.65 | 6.54 | 7.81 | 5.51 |
Cash per Share |
13.50 | 12.10 | 9.24 | 16.24 | 14.64 | 30.26 | 7.19 | 6.11 | 5.28 | 5.85 |
Shareholders Equity per Share |
22.77 | 25.28 | 26.31 | 27.25 | 26.63 | 29.53 | 33.95 | 32.33 | 32.71 | 25.90 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
22.77 | 25.28 | 26.31 | 27.25 | 26.63 | 29.53 | 33.95 | 32.33 | 32.71 | 25.90 |
Free Cash Flow |
21.96 | 68.55 | 102.89 | 536.40 | 496.56 | 332.37 | 282.52 | 144.73 | 169.68 | 120.33 |
Working Capital |
43.49 | 205.87 | 182.86 | 174.38 | 376.19 | (375.71) | (38.79) | (337.49) | (867.60) | (1,133.84) |
Capital Expenditures |
(2.17) | (1.90) | 5.79 | (2.25) | (2.59) | (2.07) | (3.29) | (8.63) | (6.86) | (5.35) |
Net Current Asset Value |
(331.49) | (467.54) | (643.03) | (624.44) | (700.99) | (874.34) | (648.54) | (957.65) | (1,254.55) | (1,505.72) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.01 | 0.01 | (0.02) | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 |
Price to Operating Income |
9.94 | 21.81 | 10.57 | 9.38 | 8.04 | 5.37 | 4.34 | 6.91 | 8.79 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.23 | 0.20 | 0.21 | 0.25 | 0.31 | 0.26 | 0.21 | 0.12 | 0.07 | 1.79 |
Cash ROIC |
2.61% | 5.26% | 6.41% | 30.23% | 25.32% | 18.04% | 18.48% | 9.84% | 13.99% | 11.30% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.03 | 0.03 | 0.03 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
54,866.75 | 48,733.42 | 34,359.34 | 27,781.73 | 40,694.85 | 73,995.97 | 41,469.08 | 13,685.48 | 11,918.91 | 13,106.44 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Payables |
2,386.01 | 2,767.73 | 3,602.63 | 4,309.21 | 4,822.64 | 5,605.83 | 6,237.65 | 6,337.09 | 6,253.39 | 5,810.81 |
Average Assets |
3,059.27 | 3,823.21 | 5,025.19 | 5,862.35 | 6,477.78 | 7,156.17 | 7,649.65 | 7,822.77 | 7,648.43 | 7,010.11 |
Average Common Equity |
277.41 | 384.17 | 526.16 | 633.83 | 641.65 | 642.61 | 655.93 | 626.30 | 602.43 | 527.63 |
Columns are period end dates