Mercantile Bank Corporation
NASDAQ:MBWM
48.56 (USD) • At close September 8, 2025
Overview | Financials
Numbers are in millions (except for per share data and ratios) USD.
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Revenue
| 361.891 | 303.501 | 213.916 | 198.656 | 193.485 |
| Cost of Revenue
| 137.816 | 85.513 | 30.145 | 15.132 | 40.117 |
| Gross Profit
| 224.075 | 217.988 | 183.771 | 183.524 | 153.368 |
| Gross Profit Ratio
| 0.619 | 0.718 | 0.859 | 0.924 | 0.793 |
| Reseach & Development Expenses
| 0 | 0 | 0 | 0 | 0 |
| General & Administrative Expenses
| 80.421 | 71.059 | 66.363 | 68.267 | 60.937 |
| Selling & Marketing Expenses
| 1.604 | 1.565 | 1.445 | 1.175 | 1.292 |
| SG&A
| 82.025 | 72.624 | 67.808 | 69.442 | 62.229 |
| Other Expenses
| 43.764 | 42.665 | 40.173 | 40.366 | 36.291 |
| Operating Expenses
| 125.789 | 115.289 | 107.981 | 109.808 | 98.52 |
| Operating Income
| 98.286 | 102.699 | 75.79 | 73.716 | 54.848 |
| Operating Income Ratio
| 0.272 | 0.338 | 0.354 | 0.371 | 0.283 |
| Total Other Income Expenses Net
| 0 | 0 | 0 | 0 | 0 |
| Income Before Tax
| 98.286 | 102.699 | 75.79 | 73.716 | 54.848 |
| Income Before Tax Ratio
| 0.272 | 0.338 | 0.354 | 0.371 | 0.283 |
| Income Tax Expense
| 18.693 | 20.482 | 14.727 | 14.695 | 10.71 |
| Net Income
| 79.593 | 82.217 | 61.063 | 59.021 | 44.138 |
| Net Income Ratio
| 0.22 | 0.271 | 0.285 | 0.297 | 0.228 |
| EPS
| 4.93 | 5.13 | 3.85 | 3.69 | 2.71 |
| EPS Diluted
| 4.93 | 5.13 | 3.85 | 3.69 | 2.71 |
| EBITDA
| 108.791 | 114.195 | 88.735 | 87.394 | 64.273 |
| EBITDA Ratio
| 0.301 | 0.376 | 0.415 | 0.44 | 0.332 |