Overview Financials News + Filings Key Docs Charts Ownership Insiders
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MERCANTILE BANK CORP (MBWM)
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| Price: |
$35.24
| | Metrics |
| OS: |
16.0
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M
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17
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% ROE
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| Market cap: |
$564
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M
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10
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% ROIC
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| TTM Valuation | | | |
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| EPS |
$4.97
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7.1
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x P/E
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BVPS
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$29.88
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1.18
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x P/B
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Recent News + Filings (All items)
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Revenue Mix by Segment
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Financial Summary (All financials)
| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| Revenues | 183.8 | 184.6 | 153.4 | 149.7 | 138.0 | 125.8 | 124.0 | 118.2 |
| Revenue growth | -0.4% | 20.4% | 2.4% | 8.5% | 9.7% | 1.4% | 4.9% | 30.2% |
| Cost of goods sold | 0.0 | 74.5 | 67.7 | 60.9 | 57.6 | 51.6 | 49.6 | 48.6 |
| Gross profit | 183.8 | 110.0 | 85.6 | 88.8 | 80.4 | 74.2 | 74.4 | 69.6 |
| Gross margin | 100.0% | 59.6% | 55.8% | 59.3% | 58.2% | 59.0% | 60.0% | 58.9% |
| Selling, general and administrative | 77.1 | | | | | | | 9.1 |
| Sales and marketing | | 1.2 | 1.3 | 1.4 | 1.6 | 1.6 | 1.6 | 1.4 |
| General and administrative | 65.1 | 11.1 | 10.4 | 9.2 | 8.6 | 8.2 | 7.9 | |
| EBIT | 89.7 | 95.2 | 70.5 | 75.6 | 67.7 | 62.2 | 62.8 | 58.3 |
| EBIT margin | 48.8% | 51.6% | 46.0% | 50.5% | 49.1% | 49.5% | 50.6% | 49.3% |
| Pre-tax income | 61.1 | 73.7 | 54.8 | 60.5 | 51.8 | 46.1 | 46.9 | 38.8 |
| Income taxes | 0.0 | 14.7 | 10.7 | 11.0 | 9.8 | 14.8 | 15.0 | 11.8 |
| Tax rate | 0.0% | 19.9% | 19.5% | 18.2% | 18.9% | 32.1% | 31.9% | 30.4% |
| Net income | 61.1 | 59.0 | 44.1 | 49.5 | 42.0 | 31.3 | 31.9 | 27.0 |
| Net margin | 33.2% | 32.0% | 28.8% | 33.0% | 30.5% | 24.9% | 25.7% | 22.9% |
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| Diluted EPS | $3.85 | $3.69 | $2.71 | $3.01 | $2.53 | $1.90 | $1.96 | $1.62 |
| Shares outstanding (diluted) | 15.9 | 16.0 | 16.3 | 16.4 | 16.6 | 16.5 | 16.3 | 16.6 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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