Mercantile Bank Corporation MBWM NASDAQ

Mercantile Bank Corporation (MBWM) generated $5.65M in operating cash flow for quarter ending 2025-12-31. After capital expenditures of $227K, free cash flow was $5.42M.

Free cash flow margin was 5.8% of revenue. Cash conversion ratio was 0.25x, suggesting some earnings are non-cash.

The company returned $6.07M in dividends to shareholders during the quarter.

Criteria supported by this page:

• HEALTH (17/100, Fail) — weak cash flow raises concerns about debt servicing
• MOAT (49/100, Partial) — cash flow generation is present but not at levels indicating a wide moat
• INCOME (85/100) — Cash conversion ratio was 0.25x suggests some earnings are non-cash items

Overall SharesGrow Score: 69/100 with 5/7 criteria passed.