Mercantile Bank Corporation
Profit Margins
| Fiscal Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| FY2016 | — | 46.9% | 25.1% |
| FY2017 | — | 48.1% | 24.3% |
| FY2018 | — | 53.0% | 30.2% |
| FY2019 | — | 62.2% | 32.6% |
| FY2020 | — | 48.3% | 26.4% |
| FY2021 | — | 51.7% | 32.7% |
| FY2022 | — | 52.2% | 32.1% |
| FY2023 | — | 80.0% | 36.4% |
| FY2024 | — | 42.5% | 34.4% |
| FY2025 | — | 42.7% | 36.6% |