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Mercantile Bank Valuation Multiples
Discover revenue and EBITDA valuation multiples for Mercantile Bank and similar public comparables like CNB Financial, NLB Banka, Sagicor, CFG Bank and more.
Mercantile Bank Overview
About Mercantile Bank
Mercantile Bank Corp operates as a bank holding company. It offers various commercial banking services to individuals, businesses, governmental units, and other institutions. These services include deposit products such as checking, savings, and term certificate accounts and lending products such as commercial, residential mortgage, and installment loans. The company generates revenue from interest and dividends earned on loans, securities, and other financial instruments.
Founded
1997
HQ
Employees
682
Website
Sectors
Financials (LTM)
EV
$1B
Mercantile Bank Financials
Mercantile Bank reported last 12-month revenue of $253M.
In the same LTM period, Mercantile Bank generated $91M in net income.
Revenue (LTM)
Mercantile Bank P&L
In the most recent fiscal year, Mercantile Bank reported revenue of $243M and net income of $89M.
Mercantile Bank expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $253M | XXX | $243M | XXX | XXX | XXX |
| EBIT Margin | 45% | XXX | 45% | XXX | XXX | XXX |
| Net Profit | $91M | XXX | $89M | XXX | XXX | XXX |
| Net Margin | 36% | XXX | 37% | XXX | XXX | XXX |
| Net Debt | — | — | $24M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Mercantile Bank Stock Performance
Mercantile Bank has current market cap of $932M, and enterprise value of $1B.
Market Cap Evolution
Mercantile Bank's stock price is $53.94.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1B | $932M | 1.8% | XXX | XXX | XXX | $5.14 |
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Start Free TrialMercantile Bank Valuation Multiples
Mercantile Bank trades at 5.7x EV/Revenue multiple.
EV / Revenue (LTM)
Mercantile Bank Financial Valuation Multiples
As of April 11, 2026, Mercantile Bank has market cap of $932M and EV of $1B.
Equity research analysts estimate Mercantile Bank's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Mercantile Bank has a P/E ratio of 10.3x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $932M | XXX | $932M | XXX | XXX | XXX |
| EV (current) | $1B | XXX | $1B | XXX | XXX | XXX |
| EV/Revenue | 5.7x | XXX | 5.9x | XXX | XXX | XXX |
| EV/EBIT | 12.7x | XXX | 13.1x | XXX | XXX | XXX |
| P/E | 10.3x | XXX | 10.5x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 127.4x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Mercantile Bank Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Mercantile Bank Margins & Growth Rates
Mercantile Bank's revenue in the last 12 month grew by 12%.
Mercantile Bank's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.
Mercantile Bank Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 12% | XXX | 15% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 35% | XXX | XXX | XXX |
| Opex to Revenue | 55% | XXX | 55% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Mercantile Bank Public Comps
See public comps and valuation multiples for other Commercial Banking comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| CNB Financial | XXX | XXX | XXX | XXX | XXX | XXX |
| NLB Banka | XXX | XXX | XXX | XXX | XXX | XXX |
| Sagicor | XXX | XXX | XXX | XXX | XXX | XXX |
| CFG Bank | XXX | XXX | XXX | XXX | XXX | XXX |
| Business First Bancshares | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Mercantile Bank M&A Activity
Mercantile Bank acquired XXX companies to date.
Last acquisition by Mercantile Bank was on XXXXXXXX, XXXXX. Mercantile Bank acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Mercantile Bank
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialMercantile Bank Investment Activity
Mercantile Bank invested in XXX companies to date.
Mercantile Bank made its latest investment on XXXXXXXX, XXXXX. Mercantile Bank invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Mercantile Bank
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Mercantile Bank
| When was Mercantile Bank founded? | Mercantile Bank was founded in 1997. |
| Where is Mercantile Bank headquartered? | Mercantile Bank is headquartered in United States. |
| How many employees does Mercantile Bank have? | As of today, Mercantile Bank has over 682 employees. |
| Who is the CEO of Mercantile Bank? | Mercantile Bank's CEO is Raymond E. Reitsma. |
| Is Mercantile Bank publicly listed? | Yes, Mercantile Bank is a public company listed on Nasdaq. |
| What is the stock symbol of Mercantile Bank? | Mercantile Bank trades under MBWM ticker. |
| When did Mercantile Bank go public? | Mercantile Bank went public in 1997. |
| Who are competitors of Mercantile Bank? | Mercantile Bank main competitors are CNB Financial, NLB Banka, Sagicor, CFG Bank. |
| What is the current market cap of Mercantile Bank? | Mercantile Bank's current market cap is $932M. |
| What is the current revenue of Mercantile Bank? | Mercantile Bank's last 12 months revenue is $253M. |
| What is the current revenue growth of Mercantile Bank? | Mercantile Bank revenue growth (NTM/LTM) is 12%. |
| What is the current EV/Revenue multiple of Mercantile Bank? | Current revenue multiple of Mercantile Bank is 5.7x. |
| Is Mercantile Bank profitable? | Yes, Mercantile Bank is net-income-positive (as of the last 12 months). |
| What is the current net income of Mercantile Bank? | Mercantile Bank's last 12 months net income is $91M. |
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