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Mercantile BankMBWM +0.78%67 Shiller PE Ratio is 14.01 as of Aug. 30, 2026, which is 9% above its 10-year median of 12.83. GuruFocus rates MBWM with a GF Score™ of 67/100 and a GF Value™ of $48.83 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,239 Banks companies, Mercantile Bank ranks worse than 51.01% on this metric.
As of today (2026-08-30), Mercantile Bank's current share price is $60.2525. Mercantile Bank's E10 for the quarter that ended in Jun. 2026 was $4.30. Mercantile Bank's Shiller PE Ratio for today is 14.01.
The historical rank and industry rank for Mercantile Bank's Shiller PE Ratio or its related term are showing as below:
MBWM'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 8.29 Med: 12.83 Max: 87.77
Current: 14.03
During the past years, Mercantile Bank's highest Shiller PE Ratio was 87.77. The lowest was 8.29. And the median was 12.83.
MBWM's Shiller PE Ratio is ranked worse than 51.01% of 1239
companies
in the Banks industry
Industry Median: 13.73
vs MBWM: 14.03
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
Mercantile Bank's adjusted earnings per share data for the three months ended in Jun. 2026 was $1.500. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $4.30 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Mercantile Bank (NAS:MBWM) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
Mercantile Bank Shiller PE Ratio Related Terms
Mercantile Bank Shiller PE Ratio Historical Data
* Premium members only.
The historical data trend for Mercantile Bank's Shiller PE Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MBWM vs SBSI, BFST, FBAK: Shiller PE Ratio Comparison
For the Banks - Regional subindustry, Mercantile Bank's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mercantile Bank Shiller PE Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Mercantile Bank's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Mercantile Bank's Shiller PE Ratio falls into.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
Mercantile Bank's Shiller PE Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Mercantile Bank's E10 for the quarter that ended in Jun. 2026 is calculated as:
For example, Mercantile Bank's adjusted earnings per share data for the three months ended in Jun. 2026 was:
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
Mercantile Bank (MBWM) has a Shiller PE Ratio of 14.01 as of Aug. 30, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Mercantile Bank and its competitors. This is near median its historical median of 12.83. Over the past decade, Mercantile Bank's Shiller PE Ratio has ranged from 8.29 to 87.77. According to the industry distribution chart, Mercantile Bank ranks #632 out of 1239 companies in the Banks industry, placing it in the top 51%.
Is Mercantile Bank's Shiller PE Ratio too high?
Mercantile Bank's current Shiller PE Ratio of 14.01 is near median its 10-year median of 12.83. Over the past 10 years, this metric has ranged from a low of 8.29 to a high of 87.77. The Banks industry median Shiller PE Ratio is 13.73. Mercantile Bank's value of 14.01 is 2% above this industry median. Based on the distribution chart, Mercantile Bank ranks #632 out of 1239 companies in the Banks industry, which is below the industry midpoint. Overall, Mercantile Bank has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mercantile Bank's Shiller PE Ratio compare to SBSI and BFST?
According to the Banks industry distribution chart, Mercantile Bank ranks #632 out of 1239 companies for Shiller PE Ratio. This places Mercantile Bank in the lower half of its industry. The industry median Shiller PE Ratio is 13.73. Mercantile Bank's value of 14.01 is 2% above this benchmark. Historically, Mercantile Bank's own Shiller PE Ratio has ranged from 8.29 to 87.77 over the past decade. While the company's 10-year median is 12.83 vs. the industry median of 13.73, Mercantile Bank has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shiller PE Ratio for a Banks company?
The median Shiller PE Ratio among Banks companies is 13.73, based on 1,239 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mercantile Bank's current Shiller PE Ratio of 14.01 is 2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Mercantile Bank and its competitors. For the Banks industry, the median Shiller PE Ratio is 13.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mercantile Bank's current Shiller PE Ratio is 14.01, which is near median its own 10-year median of 12.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mercantile Bank stock overvalued right now?
Based on GuruFocus' analysis, Mercantile Bank (MBWM) is currently considered Modestly Overvalued. The stock's GF Value™ is $48.83, compared to a current price of $60.25 — trading 23.4% above its estimated fair value. The current Shiller PE Ratio is 14.01, which is near median its 10-year median of 12.83 and 2% above the Banks industry median of 13.73. Mercantile Bank's overall GF Score™ is 67/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For Mercantile Bank (MBWM), the current Shiller PE Ratio is 14.01 as of Aug. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Mercantile Bank (MBWM) Overvalued in 2026?
Based on GuruFocus' analysis, Mercantile Bank stock appears to be overvalued.
The current stock price of $60.25 is trading 23.4% above its estimated GF Value™ of $48.83.
GuruFocus considers Mercantile Bank to be Modestly Overvalued.
Key valuation signals for MBWM:
Shiller PE Ratio: 14.01 (near median its 10-year median of 12.83)
GF Value™: $48.83 vs. price of $60.25 (23.4% above fair value)
Industry Position: 2% above the Banks median (#632 of 1239)
No single metric tells the full story. See the MBWM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
67GF Score
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