SharesGrow 7-Criteria Score
All 7 criteria scored · valuation-related highlighted on this page
Mercantile Bank Corporation (MBWM) trades at a trailing P/E of 9.7, forward P/E of 9.7. Trailing earnings yield is 10.31%, forward earnings yield 10.34%. PEG 0.90 (Peter Lynch undervalued ≤1.0). Graham Number is $73.98.
Criteria proven by this page:
- VALUE (69/100, Pass) — P/E is below market average (9.7); PEG ≤ 1.0 — Peter Lynch undervalued (0.90); earnings yield beats bond yields (10.31%).
- Forward P/E 9.7 (down from trailing 9.7) — analysts expect earnings to grow, which would improve the valuation.
- PEG Ratio 0.90 — below 1.0 suggests the stock is undervalued relative to its earnings growth rate (Peter Lynch criterion).
- Trailing Earnings Yield 10.31% — exceeds typical bond yields (~4.3%), making equity attractive vs fixed income. Forward yield improves to 10.34% as earnings recover.
- Analyst consensus target $57.00 (+6.5% upside) — modest upside expected.
Overall SharesGrow Score: 69/100 with 5/7 criteria passed.
SharesGrow 7-Criteria Score
✓
VALUE
69/100
Price-to-Earnings & upside
Proven by this page
✗
HEALTH
17/100
Debt-to-Equity & liquidity
→ Health
Valuation Snapshot — MBWM
Valuation Multiples
P/E (TTM)9.7
Forward P/E9.7
PEG Ratio0.90
Forward PEG6.91
P/B Ratio1.19
P/S Ratio2.46
EV/EBITDA11.9
Per Share Data
EPS (TTM)$5.46
Forward EPS (Est.)$5.54
Book Value / Share$44.57
Revenue / Share$22.86
FCF / Share$0.69
Yields & Fair Value
Earnings Yield10.31%
Forward Earnings Yield10.34%
Dividend Yield2.87%
Graham Number$73.98
SharesGrow IV$110.70 (+106.8%)
Analyst Target$57.00 (+6.5%)
Historical Valuation
| Year |
P/E (TTM) |
PEG Ratio |
P/B Ratio |
P/S Ratio |
Dividend Yield |
| 2016 |
19.2 |
0.95 |
1.80 |
4.40 |
3.05% |
| 2017 |
18.6 |
-6.09 |
1.59 |
4.03 |
2.07% |
| 2018 |
11.2 |
0.34 |
1.25 |
2.91 |
5.86% |
| 2019 |
12.1 |
0.64 |
1.44 |
3.23 |
2.86% |
| 2020 |
10.0 |
-1.00 |
1.00 |
2.28 |
4.06% |
| 2021 |
9.5 |
0.26 |
1.23 |
2.82 |
3.31% |
| 2022 |
8.7 |
2.01 |
1.20 |
2.48 |
3.69% |
| 2023 |
7.9 |
0.24 |
1.24 |
2.13 |
3.25% |
| 2024 |
9.0 |
-2.31 |
1.23 |
1.98 |
3.13% |
| 2025 |
8.8 |
0.82 |
1.08 |
2.10 |
3.06% |
P/E Ratio & Earnings Yield
Earnings Per Share (EPS) History
| Year |
EPS (Diluted) |
Revenue |
Net Income |
Net Margin |
| 2016 |
$1.96 |
$139.5M |
$31.91M |
22.9% |
| 2017 |
$1.90 |
$144.54M |
$31.27M |
21.6% |
| 2018 |
$2.53 |
$160.99M |
$42.02M |
26.1% |
| 2019 |
$3.01 |
$185.29M |
$49.46M |
26.7% |
| 2020 |
$2.71 |
$193.49M |
$44.14M |
22.8% |
| 2021 |
$3.69 |
$198.66M |
$59.02M |
29.7% |
| 2022 |
$3.85 |
$213.92M |
$61.06M |
28.5% |
| 2023 |
$5.13 |
$303.5M |
$82.22M |
27.1% |
| 2024 |
$4.93 |
$361.89M |
$79.59M |
22% |
| 2025 |
$5.46 |
$371.8M |
$88.75M |
23.9% |
Analyst Estimates
| Year |
EPS (Avg) |
EPS Range |
Revenue (Avg) |
Revenue Range |
Analysts |
| 2026 |
$5.54 |
$5.46 – $5.59 |
$278.76M |
$277.7M – $279.28M |
5 |
| 2027 |
$5.97 |
$5.93 – $6.01 |
$293.47M |
$291.58M – $295.46M |
5 |
