Mercantile Bank Corporation (MBWM) — Working Capital to Net Assets Ratio
Mercantile Bank Corporation (MBWM) has a Working Capital to Net Assets ratio of -543.7% as of December 2025. Working capital of $-3.94 Billion (current assets of $1.58 Billion minus current liabilities of $5.52 Billion) is measured against net assets of $724.88 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See how leveraged is Mercantile Bank Corporation's balance sheet to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Mercantile Bank Corporation Working Capital to Net Assets (1998–2025)
This chart shows how Mercantile Bank Corporation's Working Capital to Net Assets ratio has evolved across 28 annual periods from 1998 to 2025. As of December 2025, the ratio stands at -543.7%, reflecting working capital of $-3.94 Billion against net assets of $724.88 Million USD. Check Mercantile Bank Corporation tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Mercantile Bank Corporation (1998–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Mercantile Bank Corporation from 1998 to 2025, covering 28 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market cap of Mercantile Bank Corporation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -543.7% | $-3.94 Billion | $724.88 Million | $1.58 Billion | $5.52 Billion | ▲ +88.7 pp |
| 2024 | -632.4% | $-3.70 Billion | $584.53 Million | $1.12 Billion | $4.82 Billion | ▲ +15.5 pp |
| 2023 | -647.9% | $-3.38 Billion | $522.14 Million | $747.62 Million | $4.13 Billion | ▲ +96.4 pp |
| 2022 | -744.4% | $-3.29 Billion | $441.41 Million | $699.71 Million | $3.99 Billion | ▼ -144.8 pp |
| 2021 | -599.6% | $-2.74 Billion | $456.56 Million | $1.57 Billion | $4.31 Billion | ▼ -24.1 pp |
| 2020 | -575.4% | $-2.54 Billion | $441.55 Million | $1.01 Billion | $3.55 Billion | ▼ -36.0 pp |
| 2019 | -539.4% | $-2.25 Billion | $416.56 Million | $568.39 Million | $2.82 Billion | ▲ +41.4 pp |
| 2018 | -580.9% | $-2.18 Billion | $375.25 Million | $412.72 Million | $2.59 Billion | ▼ -1.6 pp |
| 2017 | -579.3% | $-2.12 Billion | $365.87 Million | $535.85 Million | $2.66 Billion | ▼ -1352.3 pp |
| 2016 | 773.0% | $2.63 Billion | $340.81 Million | $2.65 Billion | $15.23 Million | ▲ +1375.2 pp |
| 2015 | -602.2% | $-2.01 Billion | $333.80 Million | $436.28 Million | $2.45 Billion | ▼ -34.7 pp |
| 2014 | -567.5% | $-1.86 Billion | $328.14 Million | $594.44 Million | $2.46 Billion | ▼ -535.9 pp |
| 2013 | -31.6% | $-48.52 Million | $153.32 Million | $17.42 Million | $65.94 Million | ▲ +674.4 pp |
| 2012 | -706.1% | $-1.04 Billion | $146.59 Million | $173.31 Million | $1.21 Billion | ▼ -666.6 pp |
| 2011 | -39.4% | $-65.06 Million | $165.00 Million | $15.08 Million | $80.14 Million | ▲ +951.5 pp |
| 2010 | -990.9% | $-1.25 Billion | $125.94 Million | $31.82 Million | $1.28 Billion | ▼ -3.0 pp |
| 2009 | -987.8% | $-1.38 Billion | $140.10 Million | $27.45 Million | $1.41 Billion | ▼ -21.1 pp |
| 2008 | -966.8% | $-1.69 Billion | $174.37 Million | $25.37 Million | $1.71 Billion | ▼ -19.7 pp |
| 2007 | -947.0% | $-1.69 Billion | $178.16 Million | $39.09 Million | $1.73 Billion | ▲ +30.7 pp |
| 2006 | -977.7% | $-1.68 Billion | $171.91 Million | $61.38 Million | $1.74 Billion | ▲ +45.1 pp |
| 2005 | -1022.8% | $-1.59 Billion | $155.12 Million | $44.48 Million | $1.63 Billion | ▼ -87.8 pp |
| 2004 | -935.1% | $-1.32 Billion | $141.62 Million | $26.31 Million | $1.35 Billion | ▼ -145.5 pp |
| 2003 | -789.6% | $-1.03 Billion | $130.20 Million | $20.41 Million | $1.05 Billion | ▲ +203.4 pp |
| 2002 | -992.9% | $-792.71 Million | $79.83 Million | $26.74 Million | $819.45 Million | ▼ -220.8 pp |
| 2001 | -772.1% | $-551.80 Million | $71.46 Million | $17.28 Million | $569.08 Million | ▲ +519.0 pp |
| 2000 | -1291.2% | $-411.29 Million | $31.85 Million | $14.45 Million | $425.74 Million | ▼ -293.7 pp |
| 1999 | -997.5% | $-279.30 Million | $28.00 Million | $15.50 Million | $294.80 Million | ▼ -1090.0 pp |
| 1998 | 92.5% | $24.70 Million | $26.70 Million | $214.20 Million | $189.50 Million | — |