Mercantile Bank financials
$58.89−0.83%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $371.8M | $361.9M | $303.5M | $213.9M | $199.7M | $193.5M | $185.3M | $161.0M | $144.5M | $139.5M |
| Gross profit | $242.7M | $231.5M | $225.7M | $190.3M | $180.3M | $167.4M | $151.5M | $139.1M | $128.7M | $126.9M |
| Gross margin | 65.3% | 64.0% | 74.4% | 89.0% | 90.3% | 86.5% | 81.8% | 86.4% | 89.1% | 91.0% |
| Operating income | $103.5M | $98.3M | $102.7M | $75.8M | $73.7M | $54.8M | $60.5M | $51.8M | $46.1M | $46.9M |
| Net income | $88.8M | $79.6M | $82.2M | $61.1M | $59.0M | $44.1M | $49.5M | $42.0M | $31.3M | $31.9M |
| Net margin | 23.9% | 22.0% | 27.1% | 28.5% | 29.6% | 22.8% | 26.7% | 26.1% | 21.6% | 22.9% |
| Diluted EPS | $5.47 | $4.93 | $5.13 | $3.85 | $3.69 | $2.71 | $3.01 | $2.53 | $1.90 | $1.96 |
| EBITDA | $105.3M | $98.3M | $102.7M | $75.8M | $73.7M | $54.8M | $60.5M | $51.8M | $46.1M | $46.9M |
| Operating cash flow | $18.0M | $101.1M | $66.6M | $119.9M | $64.6M | $37.9M | $44.8M | $61.7M | $38.7M | $34.6M |
| Free cash flow | $11.2M | $92.9M | $60.5M | $119.8M | $59.7M | $29.1M | $32.1M | $57.4M | $33.3M | $32.6M |
| Diluted shares | 16.2M | 16.1M | 16.0M | 15.9M | 16.0M | 16.3M | 16.4M | 16.6M | 16.5M | 16.3M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $54.8M | $57.0M | $70.4M | $61.9M | $59.4M | $62.8M |
| Short-term investments | $1.52B | $1.07B | $698.7M | $655.5M | $1.53B | $968.5M |
| Total debt | $496.9M | $526.7M | $606.5M | $445.8M | $495.9M | $441.6M |
| Total assets | $6.84B | $6.05B | $5.35B | $4.87B | $5.26B | $4.44B |
| Total liabilities | $6.11B | $5.47B | $4.83B | $4.43B | $4.80B | $4.00B |
| Shareholders' equity | $724.9M | $584.5M | $522.1M | $441.4M | $456.6M | $441.6M |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology