Mercantile Bank Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Year	2023	2022	2021	2020	2019	2018 - 1997
Revenue	217.99	183.77	184.58	153.37	149.74	Upgrade
Revenue Growth (YoY)	18.62%	-0.44%	20.35%	2.42%	8.51%	Upgrade
Gross Profit	217.99	183.77	184.58	153.37	149.74	Upgrade
Selling, General & Admin	94.6	90.9	90.47	82.83	74.16	Upgrade
Other Operating Expenses	20.69	17.08	20.4	15.69	15.12	Upgrade
Operating Expenses	115.29	107.98	110.87	98.52	89.28	Upgrade
Operating Income	102.7	75.79	73.72	54.85	60.46	Upgrade
Pretax Income	102.7	75.79	73.72	54.85	60.46	Upgrade
Income Tax	20.48	14.73	14.7	10.71	11	Upgrade
Net Income	82.22	61.06	59.02	44.14	49.46	Upgrade
Net Income Growth	34.64%	3.46%	33.72%	-10.75%	17.69%	Upgrade
Shares Outstanding (Basic)	16	16	16	16	16	Upgrade
Shares Change	1.00%	1.25%	-3.47%	-0.63%	-1.56%	Upgrade
EPS (Basic)	5.13	3.85	3.69	2.71	3.01	Upgrade
EPS (Diluted)	5.13	3.85	3.69	2.71	3.01	Upgrade
EPS Growth	33.25%	4.34%	36.16%	-9.97%	18.97%	Upgrade
Free Cash Flow	60.52	119.84	59.72	29.05	32.14	Upgrade
Free Cash Flow Per Share	3.78	7.55	3.81	1.79	1.97	Upgrade
Dividend Per Share	1.340	1.260	1.180	1.120	1.060	Upgrade
Dividend Growth	6.35%	6.78%	5.36%	5.66%	-36.90%	Upgrade
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	Upgrade
Operating Margin	47.11%	41.24%	39.94%	35.76%	40.38%	Upgrade
Profit Margin	37.72%	33.23%	31.98%	28.78%	33.03%	Upgrade
Free Cash Flow Margin	27.76%	65.21%	32.36%	18.94%	21.46%	Upgrade
Effective Tax Rate	19.94%	19.43%	19.93%	19.53%	18.20%	Upgrade
EBITDA	114.2	88.74	87.39	64.27	70.01	Upgrade
EBITDA Margin	52.39%	48.29%	47.35%	41.91%	46.76%	Upgrade
Depreciation & Amortization	11.5	12.95	13.68	9.43	9.55	Upgrade
EBIT	102.7	75.79	73.72	54.85	60.46	Upgrade
EBIT Margin	47.11%	41.24%	39.94%	35.76%	40.38%	Upgrade

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).