Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the debt to assets ratio high or low?
The debt to assets ratio of 10.08% is 23% below its 5-year average of 13.13%, near the low end of its 5-year range (10.08%–16.07%).
As of the fiscal period ended Tuesday, June 30, 2026. 9.89% below its 12-month average of 11.19%.
Reported quarterly debt to assets ratio; no daily interpolation. Q2 FY2026 (2026-06-30): 10.08%.
DEBT TO ASSETS RATIO
10.08%
DEBT TO ASSETS RATIO AVG TTM
11.19%
DEBT TO ASSETS RATIO AVG 3Y
12.86%
DEBT TO ASSETS RATIO AVG 5Y
13.13%
DEBT TO ASSETS RATIO AVG 10Y
13.07%
DEBT TO ASSETS RATIO AVG 15Y
11.57%
DEBT TO ASSETS RATIO AVG 20Y
12.25%
CURRENT VS TTM AVG
-9.89%
CURRENT VS 3Y AVG
-21.59%
CURRENT VS 5Y AVG
-23.18%
CURRENT VS 10Y AVG
-22.84%
CURRENT VS 15Y AVG
-12.87%
CURRENT VS 20Y AVG
-17.71%
SECTOR MEDIAN · FINANCIAL SERVICES
0.05%
median of 646 covered companies
CURRENT VS SECTOR MEDIAN
+20067.46%
vs the sector median at left
Mercantile Bank Corporation
Market Cap
$1.02B
Debt to Assets Ratio
10.08%
TTM Avg
11.19%
3Y Avg
12.86%
5Y Avg
13.13%
Market Cap
$1.02B
Debt to Assets Ratio
0.00%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.02B
Debt to Assets Ratio
0.03%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.02B
Debt to Assets Ratio
0.10%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.01B
Debt to Assets Ratio
0.07%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.01B
Debt to Assets Ratio
0.03%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.00B
Debt to Assets Ratio
0.09%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$1.04B
Debt to Assets Ratio
0.50%
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | DEBT TO ASSETS RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Mercantile Bank Corporation (MBWM) | $1.02B | 10.08% | 11.19% | 12.86% | 13.13% |
| Esquire Financial Holdings, Inc. (ESQ)vs › | $1.02B | 0.00% | N/A | N/A | N/A |
| CNB Financial Corporation (CCNEP)vs › | $1.02B | 0.03% | N/A | N/A | N/A |
| OceanFirst Financial Corp. (OCFC)vs › | $1.02B | 0.10% | N/A | N/A | N/A |
| Business First Bancshares, Inc. (BFST)vs › | $1.01B | 0.07% | N/A | N/A | N/A |
| CNB Financial Corporation (CCNE)vs › | $1.01B | 0.03% | N/A | N/A | N/A |
| MetroCity Bankshares, Inc. (MCBS)vs › | $1.00B | 0.09% | N/A | N/A | N/A |
| Oaktree Specialty Lending Corporation (OCSL)vs › | $1.04B | 0.50% | N/A | N/A | N/A |
| Northeast Bank (NBN)vs › | $1.04B | 0.16% | N/A | N/A | N/A |
| Horizon Bancorp, Inc. (HBNC)vs › | $996.57M | 0.06% | N/A | N/A | N/A |
Debt/Assets
10.1%
Debt/Equity
0.91
Current ratio and interest coverage is unavailable for Mercantile Bank Corporation: applicability has not been verified for this financial-services business. The current sector-based policy withholds this model until its treatment of debt, cash and cash flows is confirmed for the company.
Formula: Debt/Assets = Total Debt / Total Assets × 100
Debt/Assets vs Debt/Equity:
Industry context matters: Capital-intensive industries (utilities, real estate) typically have higher Debt/Assets ratios than tech companies.
Debt/Assets ratio shows what percentage of a company's assets are financed by debt. Compare the current value with the historical chart and peer group to understand leverage over time.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | DEBT TO ASSETS RATIO |
|---|---|
| 2026-06-30 | 10.08% |
| 2026-03-31 | 10.13% |
| 2025-12-31 | 12.08% |
| 2025-09-30 | 11.70% |
| 2025-06-30 | 11.96% |
| 2025-03-31 | 12.18% |
| 2024-12-31 | 10.71% |
| 2024-09-30 | 13.14% |
| 2024-06-30 | 14.07% |
| 2024-03-31 | 14.90% |
| 2023-12-31 | 15.67% |
| 2023-09-30 | 14.48% |
| 2023-06-30 | 16.07% |
| 2023-03-31 | 15.53% |
| 2022-12-31 | 13.14% |
| 2022-09-30 | 13.44% |
| 2022-06-30 | 13.89% |
| 2022-03-31 | 13.98% |
| 2021-12-31 | 13.19% |
| 2021-09-30 | 12.45% |
| 2021-06-30 | 12.86% |
| 2021-03-31 | 12.38% |
| 2020-12-31 | 12.62% |
| 2020-09-30 | 13.54% |
| 2020-06-30 | 14.11% |
| 2020-03-31 | 15.70% |
| 2019-12-31 | 13.86% |
| 2019-09-30 | 13.87% |
| 2019-06-30 | 15.11% |
| 2019-03-31 | 15.25% |
| 2018-12-31 | 14.86% |
| 2018-09-30 | 12.07% |
| 2018-06-30 | 11.26% |
| 2018-03-31 | 11.25% |
| 2017-12-31 | 11.69% |
| 2017-09-30 | 11.91% |
| 2017-06-30 | 12.76% |
| 2017-03-31 | 12.48% |
| 2016-12-31 | 11.40% |
| 2016-09-30 | 12.06% |
| 2016-06-30 | 11.97% |
| 2016-03-31 | 10.41% |
| 2015-12-31 | 9.57% |
| 2015-09-30 | 9.76% |
| 2015-06-30 | 8.86% |
| 2015-03-31 | 8.72% |
| 2014-12-31 | 9.54% |
| 2014-09-30 | 8.88% |
| 2014-06-30 | 8.67% |
| 2014-03-31 | 9.99% |
| 2013-12-31 | 10.32% |
| 2013-09-30 | 10.10% |
| 2013-06-30 | 9.33% |
| 2013-03-31 | 9.87% |
| 2012-12-31 | 9.33% |
| 2012-09-30 | 5.00% |
| 2012-06-30 | 5.01% |
| 2012-03-31 | 5.67% |
| 2011-12-31 | 10.60% |
| 2011-09-30 | 5.39% |
| 2011-06-30 | 5.18% |
| 2011-03-31 | 12.08% |
| 2010-12-31 | 6.73% |
| 2010-09-30 | 17.71% |
| 2010-06-30 | 17.63% |
| 2010-03-31 | 17.79% |
| 2009-12-31 | 13.51% |
| 2009-09-30 | 18.72% |
| 2009-06-30 | 19.04% |
| 2009-03-31 | 17.94% |
| 2008-12-31 | 18.88% |
| 2008-09-30 | 20.09% |
| 2008-06-30 | 16.10% |
| 2008-03-31 | 13.37% |
| 2007-12-31 | 15.47% |
| 2007-09-30 | 12.52% |
| 2007-06-30 | 12.63% |
| 2007-03-31 | 9.79% |
| 2006-12-31 | 10.96% |
| 2006-09-30 | 11.11% |
| 2006-06-30 | 12.28% |
| 2006-03-31 | 12.67% |
| 2005-12-31 | 20.52% |
| 2005-09-30 | 12.98% |
| 2005-06-30 | 13.23% |
| 2005-03-31 | 13.22% |
| 2004-12-31 | 14.71% |
| 2004-09-30 | 12.52% |
| 2004-06-30 | 13.92% |
| 2004-03-31 | 12.32% |
| 2003-12-31 | 13.56% |
| 2003-09-30 | 10.34% |
| 2003-06-30 | 8.27% |
| 2003-03-31 | 8.17% |
| 2002-12-31 | 7.15% |
| 2002-09-30 | 7.43% |
