# Mercantile Bank Corporation (MBWM)

> Financial Services · US · Reports in USD

Fundamental indicators from Sponda, adjusted for inflation.

[HTML version](https://sponda.capital/en/MBWM/fundamentals)

## Annual figures

| Year | Revenue (M) | Net Inc. (M) | FCF (M) | Debt (M) | Equity (M) |
| --- | --- | --- | --- | --- | --- |
| 2026 | $ 194.71M | $ 48.61M | $ 42.31M | $ 703.26M | $ 736.95M |
| 2025 | $ 380.69M | $ 90.88M | $ 11.48M | $ 825.88M | $ 724.88M |
| 2024 | $ 380.37M | $ 83.66M | $ 97.32M | $ 648.25M | $ 584.53M |
| 2023 | $ 328.16M | $ 88.90M | $ 64.80M | $ 839.95M | $ 522.15M |
| 2022 | $ 239.00M | $ 68.21M | $ 130.53M | $ 640.19M | $ 441.41M |
| 2021 | $ 236.13M | $ 70.15M | $ 70.10M | $ 693.35M | $ 456.56M |
| 2020 | $ 246.49M | $ 56.23M | $ 36.80M | $ 559.93M | $ 441.55M |
| 2019 | $ 239.16M | $ 63.84M | $ 40.38M | $ 503.56M | $ 416.56M |
| 2018 | $ 212.62M | $ 55.50M | $ 73.19M | $ 499.72M | $ 375.25M |
| 2017 | $ 194.72M | $ 42.13M | $ 44.78M | $ 384.27M | $ 365.87M |
| 2016 | $ 191.92M | $ 43.91M | $ 44.82M | $ 351.55M | $ 340.81M |
| 2015 | $ 180.23M | $ 37.94M | $ 49.03M | $ 277.93M | $ 333.80M |
| 2014 | $ 140.09M | $ 24.49M | $ 23.05M | $ 276.06M | $ 328.14M |
| 2013 | $ 92.61M | $ 24.22M | $ 40.08M | $ 147.30M | $ 153.33M |
| 2012 | $ 98.05M | $ 18.10M | $ 23.75M | $ 132.76M | $ 146.59M |
| 2011 | $ 115.11M | $ 55.07M | $ 32.25M | $ 151.99M | $ 165.00M |
| 2010 | $ 147.46M | $ -20.16M | $ 44.64M | $ 109.79M | $ 125.94M |
| 2009 | $ 171.84M | $ -78.87M | $ -13.35M | $ 257.48M | $ 140.10M |
| 2008 | $ 194.35M | $ -7.51M | $ 19.63M | $ 416.93M | $ 174.37M |
| 2007 | $ 227.20M | $ 13.58M | $ 26.04M | $ 328.27M | $ 178.16M |
| 2006 | $ 166.83M | $ 22.59M | $ 36.10M | $ 226.58M | $ 171.92M |

Columns not available in this view: annualPriceMultiples, dividends. They require live market data and are shown on the HTML page instead.

## Leverage and liquidity

| Indicator | Value |
| --- | --- |
| Gross Debt / Eq | 0.95 |
| Liabilities / Eq | 8.42 |
| Current Ratio | 0.22 |

## Debt coverage

| Indicator | Value |
| --- | --- |
| Gross Debt / Earnings | 10.19 |
| Gross Debt / FCF | 11.07 |

## Other views

- [Metrics](https://sponda.capital/en/MBWM.md)
- [Charts](https://sponda.capital/en/MBWM/charts.md)
- [Compare](https://sponda.capital/en/MBWM/compare.md)
- [Indicator definitions](https://sponda.capital/en/screener.md)

Data as of 2026-08-29.