MACATAWA BANK CORP(NASDAQ:MCBC) stock Fundamental Analysis

Fundamental Rating

Overall MCBC gets a fundamental rating of 4 out of 10. We evaluated MCBC against 405 industry peers in the Banks industry. MCBC has only an average score on both its financial health and profitability. MCBC is valued expensive and it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

MCBC had positive earnings in the past year.

MCBC had a positive operating cash flow in the past year.

Each year in the past 5 years MCBC has been profitable.

In the past 5 years MCBC always reported a positive cash flow from operatings.

1.2 Ratios

Looking at the Return On Assets, with a value of 1.57%, MCBC belongs to the top of the industry, outperforming 91.87% of the companies in the same industry.

MCBC has a better Return On Equity (14.00%) than 87.44% of its industry peers.

		Industry Rank	Sector Rank
ROA	1.57%
ROE	14%
ROIC	N/A

ROA(3y)1.25%

ROA(5y)1.29%

ROE(3y)13.51%

ROE(5y)13.56%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

MCBC has a Profit Margin of 39.38%. This is amongst the best in the industry. MCBC outperforms 95.32% of its industry peers.

MCBC's Profit Margin has improved in the last couple of years.

The Operating Margin and Gross Margin are not available for MCBC so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	39.38%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y4.98%

PM growth 5Y3.6%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

MCBC does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for MCBC remains at a similar level compared to 1 year ago.

The number of shares outstanding for MCBC has been increased compared to 5 years ago.

There is no outstanding debt for MCBC. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

2.2 Solvency

There is no outstanding debt for MCBC. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	0
Altman-Z	N/A

ROIC/WACCN/A

WACC11.97%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

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Altman-Z score

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3. Growth

3.1 Past

MCBC shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.24%.

MCBC shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.59% yearly.

Looking at the last year, MCBC shows a small growth in Revenue. The Revenue has grown by 4.47% in the last year.

Measured over the past years, MCBC shows a small growth in Revenue. The Revenue has been growing by 6.54% on average per year.

EPS 1Y (TTM)4.24%

EPS 3Y13.6%

EPS 5Y10.59%

EPS Q2Q%-17.14%

Revenue 1Y (TTM)4.47%

Revenue growth 3Y7.38%

Revenue growth 5Y6.54%

Sales Q2Q%-6.47%

3.2 Future

Based on estimates for the next years, MCBC will show a decrease in Earnings Per Share. The EPS will decrease by -1.58% on average per year.

The Revenue is expected to grow by 0.82% on average over the next years.

EPS Next Y-6.18%

EPS Next 2Y-1.58%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue Next Year-1.42%

Revenue Next 2Y0.82%

Revenue Next 3YN/A

Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 12.05, which indicates a correct valuation of MCBC.

MCBC's Price/Earnings is on the same level as the industry average.

The average S&P500 Price/Earnings ratio is at 29.63. MCBC is valued rather cheaply when compared to this.

MCBC is valuated reasonably with a Price/Forward Earnings ratio of 11.86.

MCBC's Price/Forward Earnings ratio is in line with the industry average.

MCBC is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.68, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	12.05
Fwd PE	11.86

4.2 Price Multiples

MCBC's Price/Free Cash Flow ratio is in line with the industry average.

		Industry Rank	Sector Rank
P/FCF	12.62
EV/EBITDA	N/A

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)1.14

EPS Next 2Y-1.58%

EPS Next 3YN/A

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5. Dividend

5.1 Amount

MCBC has a Yearly Dividend Yield of 2.43%. Purely for dividend investing, there may be better candidates out there.

MCBC's Dividend Yield is slightly below the industry average, which is at 3.18.

MCBC's Dividend Yield is comparable with the S&P500 average which is at 2.27.

		Industry Rank	Sector Rank
Dividend Yield	2.43%

5.2 History

The dividend of MCBC has a limited annual growth rate of 5.68%.

MCBC has been paying a dividend for at least 10 years, so it has a reliable track record.

MCBC has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.

Dividend Growth(5Y)5.68%

Div Incr Years1

Div Non Decr Years9

5.3 Sustainability

MCBC pays out 28.38% of its income as dividend. This is a sustainable payout ratio.

DP28.38%

EPS Next 2Y-1.58%

EPS Next 3YN/A

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MACATAWA BANK CORP

NASDAQ:MCBC (7/31/2024, 8:00:00 PM)

After market: 14.78 -0.04 (-0.27%)

14.82

-0.13 (-0.87%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupBanks

GICS IndustryBanks

Earnings (Last)07-25 2024-07-25/amc

Earnings (Next)10-24 2024-10-24/amc

Inst Owners2.45%

Inst Owner Change-100%

Ins Owners0.27%

Ins Owner Change0%

Market Cap509.22M

Analysts85

Price Target15.3 (3.24%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	2.43%

Yearly Dividend0.33

Dividend Growth(5Y)5.68%

DP28.38%

Div Incr Years1

Div Non Decr Years9

Ex-DateN/A

Surprises & Revisions

EPS beat(2)0

Avg EPS beat(2)-3.96%

Min EPS beat(2)-4.91%

Max EPS beat(2)-3%

EPS beat(4)1

Avg EPS beat(4)-3.27%

Min EPS beat(4)-11.01%

Max EPS beat(4)5.84%

EPS beat(8)5

Avg EPS beat(8)2.9%

EPS beat(12)6

Avg EPS beat(12)1.72%

EPS beat(16)9

Avg EPS beat(16)9.68%

Revenue beat(2)0

Avg Revenue beat(2)-4.82%

Min Revenue beat(2)-5.5%

Max Revenue beat(2)-4.14%

Revenue beat(4)0

Avg Revenue beat(4)-4.49%

Min Revenue beat(4)-8.05%

Max Revenue beat(4)-0.26%

Revenue beat(8)3

Avg Revenue beat(8)-0.94%

Revenue beat(12)3

Avg Revenue beat(12)-2.49%

Revenue beat(16)5

Avg Revenue beat(16)-1.94%

PT rev (1m)0%

PT rev (3m)21.62%

EPS NQ rev (1m)0%

EPS NQ rev (3m)-4.69%

EPS NY rev (1m)0%

EPS NY rev (3m)-3.95%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)-2.4%

Revenue NY rev (1m)0%

Revenue NY rev (3m)-2.54%

Valuation

		Industry Rank	Sector Rank
PE	12.05
Fwd PE	11.86
P/S	4.89
P/FCF	12.62
P/OCF	12.36
P/B	1.74
P/tB	1.74
EV/EBITDA	N/A

EPS(TTM)1.23

EY8.3%

EPS(NY)1.25

Fwd EY8.43%

FCF(TTM)1.17

FCFY7.92%

OCF(TTM)1.2

OCFY8.09%

SpS3.03

BVpS8.53

TBVpS8.53

PEG (NY)N/A

PEG (5Y)1.14

Profitability

		Industry Rank	Sector Rank
ROA	1.57%
ROE	14%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	39.38%
GM	N/A
FCFM	38.74%

ROA(3y)1.25%

ROA(5y)1.29%

ROE(3y)13.51%

ROE(5y)13.56%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y4.98%

PM growth 5Y3.6%

GM growth 3YN/A

GM growth 5YN/A

F-Score7

Asset Turnover0.04

Health

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	0
Debt/EBITDA	N/A
Cap/Depr	133.02%
Cap/Sales	0.81%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	98.38%
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score7

WACC11.97%

ROIC/WACCN/A

Cap/Depr(3y)75.53%

Cap/Depr(5y)72.06%

Cap/Sales(3y)0.85%

Cap/Sales(5y)1.29%

Profit Quality(3y)106.21%

Profit Quality(5y)100.43%

High Growth Momentum

Growth

EPS 1Y (TTM)4.24%

EPS 3Y13.6%

EPS 5Y10.59%

EPS Q2Q%-17.14%

EPS Next Y-6.18%

EPS Next 2Y-1.58%

EPS Next 3YN/A

EPS Next 5YN/A

Revenue 1Y (TTM)4.47%

Revenue growth 3Y7.38%

Revenue growth 5Y6.54%

Sales Q2Q%-6.47%

Revenue Next Year-1.42%

Revenue Next 2Y0.82%

Revenue Next 3YN/A

Revenue Next 5YN/A

EBIT growth 1YN/A

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y10.17%

FCF growth 3Y15.27%

FCF growth 5Y8.86%

OCF growth 1Y10.15%

OCF growth 3Y12.72%

OCF growth 5Y8.12%

MACATAWA BANK CORP (MCBC) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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