Mercantile Bank Ratios (2011-2025) | MBWM

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Ratios	Mar2011	Jun2011	Sep2011	Dec2011	Mar2012	Jun2012	Sep2012	Dec2012	Mar2013	Jun2013	Sep2013	Dec2013	Mar2014	Jun2014	Sep2014	Mar2016	Jun2016	Sep2016	Dec2016	Mar2017	Jun2017	Sep2017	Dec2017	Mar2018	Jun2018	Sep2018	Dec2018	Mar2019	Jun2019	Sep2019	Dec2019	Mar2020	Jun2020	Sep2020	Dec2020	Mar2021	Jun2021	Sep2021	Dec2021	Mar2022	Jun2022	Sep2022	Dec2022	Mar2023	Jun2023	Sep2023	Dec2023	Mar2024	Jun2024	Sep2024	Dec2024	Mar2025	Jun2025	Sep2025
Profitability
EBT Margin	9.34%	18.29%	21.45%	20.63%	30.06%	43.47%	28.27%	31.30%	46.66%	44.11%	39.88%	53.91%	41.87%	13.87%	29.59%	37.92%	34.88%	36.15%	38.81%	978.09%	901.62%	907.92%	986.30%	1,080.69%	874.14%	906.97%	1,017.16%	1,091.77%	955.92%	1,005.43%	1,036.98%	968.19%	781.59%	806.42%	1,107.43%	1,047.62%	1,163.28%	954.39%	772.20%	761.30%	685.33%	957.48%	1,270.50%	1,268.74%	1,045.63%	1,164.29%	1,147.43%	1,272.28%	1,037.78%	1,087.99%	1,066.93%	1,092.50%	1,104.77%	1,157.32%
EBIT Margin	46.90%	53.97%	55.13%	48.98%	56.75%	68.89%	51.61%	52.52%	67.40%	64.59%	59.43%	72.66%	61.95%	30.29%	39.66%	47.04%	44.66%	46.41%	49.38%	1,262.60%	1,217.09%	1,238.99%	1,342.60%	1,465.41%	1,256.00%	1,316.69%	1,472.98%	1,689.53%	1,531.13%	1,568.52%	1,586.45%	1,527.85%	1,261.43%	1,178.36%	1,467.67%	1,360.61%	1,418.65%	1,199.08%	1,001.17%	1,026.95%	930.13%	1,233.27%	1,630.83%	1,856.17%	1,802.72%	2,158.56%	2,292.35%	2,656.67%	2,441.44%	2,644.04%	2,634.45%	2,536.85%	2,486.85%	2,576.17%
EBITDA Margin	48.90%	56.01%	57.29%	51.03%	58.98%	71.11%	53.68%	54.61%	69.33%	66.55%	61.20%	74.27%	63.91%	32.35%	41.60%	48.63%	46.34%	48.08%	51.12%	1,310.24%	1,263.52%	1,279.94%	1,385.59%	1,509.49%	1,299.63%	1,364.51%	1,521.66%	1,737.02%	1,572.17%	1,609.18%	1,632.13%	1,585.01%	1,323.36%	1,231.60%	1,520.72%	1,413.59%	1,465.63%	1,246.79%	1,048.60%	1,076.61%	973.95%	1,278.95%	1,668.27%	1,896.07%	1,838.91%	2,198.61%	2,331.95%	2,700.47%	2,482.17%	2,685.60%	2,676.99%	2,572.60%	2,522.00%	2,611.85%
Net Margin	7.16%	16.02%	19.02%	208.88%	18.49%	24.44%	19.18%	22.09%	33.13%	30.69%	25.25%	36.14%	28.48%	8.46%	20.59%	25.93%	23.85%	24.72%	26,048.71%	678.09%	624.40%	628.73%	631.75%	875.38%	708.10%	734.62%	800.71%	884.37%	774.29%	814.48%	871.53%	784.20%	633.04%	653.18%	614.67%	848.57%	942.24%	773.04%	590.51%	610.95%	550.00%	768.46%	966.90%	1,018.16%	839.12%	934.36%	819.03%	1,016.60%	829.04%	869.21%	883.28%	887.64%	962.47%	1,002.02%
FCF Margin			3.49%	45.47%	20.75%	36.93%	-7.64%	70.08%	24.24%	100.11%	39.49%	46.47%	1.99%			30.67%	17.29%	17.67%	36.95%	608.46%	570.15%	530.39%	1,003.25%	934.51%	497.75%	838.32%	1,830.66%	-21.47%	584.60%	159.41%	1,325.85%	-950.55%	-282.46%	1,584.54%	1,234.89%	-180.21%	1,127.50%	-190.29%	2,235.01%	1,464.97%	1,032.90%	1,487.49%	1,712.43%	755.19%	710.22%	1,567.38%	-357.08%	1,828.19%	363.77%	-606.96%	2,722.46%	-205.04%	-432.60%	863.18%
Efficiency
Assets Average			1,507.93M									1,424.48M	1,420.24M	2,146.40M	2,871.19M	2,894.58M	2,963.00M	3,031.95M	3,073.27M	3,050.74M	3,081.13M	3,199.00M	3,270.68M	3,290.30M	3,291.21M	3,294.31M	3,332.01M	3,457.83M	3,563.95M	3,643.26M	3,671.65M	3,645.15M	3,985.88M	4,367.49M	4,428.98M	4,573.85M	4,733.88M	4,860.91M	5,111.08M	5,216.82M	5,117.23M	5,037.74M	4,944.78M	4,884.25M	5,016.73M	5,194.30M	5,302.12M	5,409.59M	5,534.17M	5,759.76M	5,984.64M	6,096.68M	6,161.09M	6,244.74M
Equity Average			133.82M	150.87M				145.57M	148.14M	150.31M	150.39M	151.58M	155.51M	236.91M	318.57M	329.77M	341.56M	347.02M	345.14M	344.43M	352.77M	360.02M	364.21M	367.11M	371.63M	377.19M	377.36M	379.49M	391.92M	403.66M	411.88M	417.48M	421.81M	428.56M	436.73M	441.40M	446.57M	452.08M	454.42M	446.51M	432.73M	422.62M	428.83M	454.39M	473.04M	480.96M	502.68M	529.39M	543.90M	567.23M	583.92M	596.44M	619.93M	644.57M
Invested Capital		130.92M	136.73M	165.00M			144.56M	1,091.55M	149.69M	150.94M	1,055.29M	1,047.66M	1,035.23M	2,103.75M	2,057.60M	1,925.58M	1,890.72M	1,947.24M	1,905.20M	1,868.36M	1,927.50M	2,025.55M	2,021.86M	2,078.21M	2,020.26M	2,008.83M	1,949.17M	2,136.97M	2,100.74M	2,207.10M	2,182.03M	2,107.51M	2,241.88M	2,354.05M	2,419.70M	2,480.73M	2,502.33M	2,673.89M	2,861.80M	2,726.52M	2,562.44M	2,545.44M	2,549.47M	2,688.61M	2,863.86M	3,074.27M	3,175.42M	3,409.46M	3,577.84M	3,856.99M	4,018.37M	4,116.63M	4,161.19M	4,286.67M
Asset Utilization Ratio												0.04	0.04	0.03	0.03	0.03	0.04	0.04	0.04	0.03	0.02	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency
Interest Coverage Ratio	1.25	1.51	1.64	1.73	2.13	2.71	2.21	2.47	3.25	3.15	3.04	3.87	3.09	1.84	3.94	5.16	4.57	4.52	4.67	4.44	3.86	3.74	3.77	3.81	3.29	3.21	3.23	2.83	2.66	2.79	2.89	2.73	2.63	3.17	4.07	4.35	5.56	4.90	4.37	3.87	3.80	4.47	4.53	3.16	2.38	2.17	2.00	1.92	1.74	1.70	1.68	1.76	1.80	1.82
Debt to Equity		0.54	0.51					0.44			0.44	0.45	0.40	0.39	0.45	0.48	0.52	0.51	0.51	0.59	0.69	0.61	0.60	0.60	0.61	0.63	0.93	1.00	0.93	0.89	0.85	0.94	0.93	0.91	0.89	0.89	0.87	0.87	0.82	0.88	0.84	0.81	0.70	0.81	0.98	0.95	0.90	0.83	0.77	0.72	0.66	0.60	0.56	0.53
Debt Ratio		0.05	0.05					0.05			0.05	0.05	0.04	0.04	0.05	0.06	0.06	0.06	0.06	0.07	0.08	0.07	0.07	0.07	0.07	0.07	0.10	0.11	0.10	0.10	0.10	0.11	0.09	0.09	0.09	0.08	0.08	0.08	0.07	0.07	0.07	0.07	0.06	0.08	0.09	0.09	0.09	0.08	0.08	0.07	0.06	0.06	0.06	0.05
Equity Ratio		0.09	0.09					0.10			0.11	0.11	0.11	0.11	0.11	0.12	0.11	0.11	0.11	0.12	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.11	0.10	0.10	0.10	0.09	0.09	0.09	0.09	0.08	0.08	0.08	0.09	0.10	0.09	0.09	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Times Interest Earned	1.25	1.51	1.64	1.73	2.13	2.71	2.21	2.47	3.25	3.15	3.04	3.87	3.09	1.84	3.94	5.16	4.57	4.52	4.67	4.44	3.86	3.74	3.77	3.81	3.29	3.21	3.23	2.83	2.66	2.79	2.89	2.73	2.63	3.17	4.07	4.35	5.56	4.90	4.37	3.87	3.80	4.47	4.53	3.16	2.38	2.17	2.00	1.92	1.74	1.70	1.68	1.76	1.80	1.82
Dividends & Payouts
FCF Payout Ratio				0.25	0.09	0.02	-0.13	0.03	0.27	0.07	0.19	0.16	4.16			0.25	0.48	0.49	0.94	0.43	0.44	0.44	0.25	0.31	0.54	0.34	0.64	-14.63	0.48	1.76	0.22	-0.35	-1.15	0.17	0.23	-1.53	0.21	-1.26	0.11	0.17	0.22	0.16	0.14	0.33	0.30	0.15	-0.68	0.14	0.67	-0.42	0.10	-1.31	-0.58	0.30
Valuation
Enterprise Value	78.31M	-55.58M	-58.68M	7.53M	122.45M	158.86M	43.74M	-128.13M	28.86M	98.46M	-66.65M	-98.54M	-76.54M	-398.35M	-268.69M	-76.94M	-38.53M	-27.15M	94.44M	172.19M	93.19M	65.43M	41.27M	340.62M	487.72M	474.27M	393.60M	322.23M	384.64M	310.18M	362.05M	109.03M	-104.97M	-262.11M	-185.94M	-125.20M	-274.12M	-321.35M	-430.83M	-219.15M	10.02M	158.77M	408.25M	408.32M	207.23M	194.08M	489.03M	353.44M	426.23M	339.30M	360.74M	298.08M	400.08M	229.07M
Market Capitalization		71.42M	67.02M					142.54M			189.64M	187.91M	180.20M	199.94M	321.02M	363.93M	387.49M	437.10M	614.59M	565.13M	518.35M	575.24M	583.31M	551.78M	613.46M	554.29M	468.95M	537.12M	535.06M	538.72M	595.78M	345.75M	366.26M	292.48M	441.07M	527.93M	487.98M	509.05M	548.94M	561.10M	506.20M	471.23M	531.20M	489.13M	441.90M	495.12M	647.07M	620.33M	654.02M	697.49M	780.54M	708.26M	722.09M	731.19M
Return Ratios
Return on Sales				-0.30%	-0.28%	-0.26%	-0.27%	0.23%	0.26%	0.26%	0.28%	0.31%	0.30%	0.23%	0.22%	0.21%	0.21%	0.24%	0.25%	0.32%	0.46%	0.88%	6.40%	6.90%	7.09%	7.36%	7.78%	7.82%	7.97%	8.17%	8.35%	8.12%	7.79%	7.35%	6.68%	6.91%	7.73%	8.01%	7.85%	7.29%	6.29%	6.31%	7.27%	8.24%	8.96%	9.36%	8.99%	9.00%	8.98%	8.82%	8.98%	8.67%	9.02%	9.36%
Return on Invested Capital								0.04%	0.04%	0.15%	0.04%	0.02%	0.02%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.04%	0.04%	0.03%	0.03%	0.02%	0.02%	0.03%	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.04%	0.04%	0.04%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%
Return on Assets												0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Return on Equity				-0.11%				0.09%	0.09%	0.09%	0.10%	0.11%	0.10%	0.06%	0.05%	0.06%	0.07%	0.09%	0.09%	0.09%	0.09%	0.08%	0.09%	0.09%	0.10%	0.10%	0.11%	0.11%	0.11%	0.12%	0.12%	0.12%	0.11%	0.10%	0.09%	0.10%	0.12%	0.13%	0.13%	0.13%	0.12%	0.12%	0.14%	0.15%	0.16%	0.17%	0.16%	0.15%	0.15%	0.14%	0.14%	0.13%	0.13%	0.13%

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Mercantile Bank Ratios (2011-2025) | MBWM

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