$426.2 M

MCBC Mkt cap, 20-Jul-2018

$20.2 M

Macatawa Bank Corporation Revenue Q1, 2018
Macatawa Bank Corporation Gross profit (Q1, 2018)18.3 M
Macatawa Bank Corporation Gross profit margin (Q1, 2018), %90.9%
Macatawa Bank Corporation Net income (Q1, 2018)5.8 M
Macatawa Bank Corporation EBIT (Q1, 2018)14.3 M
Macatawa Bank Corporation Cash, 31-Mar-2018130.9 M
Macatawa Bank Corporation EV336.6 M

Macatawa Bank Corporation Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

64.8 m63.2 m49.4 m52.5 m

Revenue growth, %

(2%)(22%)6%

Cost of goods sold

5.3 m5 m5.7 m

Gross profit

44.1 m47.5 m

Gross profit Margin, %

89%91%

Sales and marketing expense

24.9 m24.8 m

R&D expense

2.8 m2.8 m

Operating expense total

27.7 m27.6 m

EBIT

45.5 m44.7 m47.6 m48.9 m53.3 m

EBIT margin, %

70%71%96%93%

Interest expense

7.3 m5.6 m

Pre tax profit

13.8 m15 m18.4 m22.2 m27 m

Income tax expense

4.3 m4.6 m5.6 m6.2 m10.7 m

Net Income

9.5 m10.5 m12.8 m16 m16.3 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

16.8 m16.9 m17.6 m17.4 m18.2 m18.1 m18.5 m18.9 m20.2 m

Cost of goods sold

1.4 m1.3 m1.3 m1.3 m1.2 m1.3 m1.3 m1.5 m1.8 m

Gross profit

15.4 m15.6 m16.3 m16.1 m17 m16.8 m17.2 m17.4 m18.3 m

Gross profit Margin, %

92%92%93%93%93%93%93%92%91%

Sales and marketing expense

6.1 m6.2 m6.2 m6.2 m6.2 m6 m6.2 m6.2 m6.2 m

R&D expense

648 k619 k659 k688 k741 k682 k731 k655 k695 k

Operating expense total

6.8 m6.8 m6.8 m6.9 m6.9 m6.7 m6.9 m6.9 m6.9 m

EBIT

11.3 m11.4 m11.8 m12.4 m12.2 m13.1 m13.2 m13.5 m14.3 m

EBIT margin, %

68%67%67%71%67%72%71%71%71%

Pre tax profit

4.6 m4.6 m4.9 m5.4 m6 m6.4 m6.9 m7 m7 m

Income tax expense

1.4 m1.4 m1.4 m1.7 m1.4 m2 m2.1 m2.2 m1.2 m

Net Income

2.2 m2.6 m2.8 m2.8 m2.8 m3.2 m3.2 m3.5 m3.7 m4.6 m4.5 m4.8 m4.9 m5.8 m

Macatawa Bank Corporation Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

156.9 m129.5 m181.5 m89.8 m161.5 m

Accounts Receivable

3.2 m3.4 m3.6 m4.1 m

Inventories

Total Assets

1.5 b1.6 b1.7 b1.7 b1.9 b

Accounts Payable

1.4 b1.6 b

Short-term debt

Long-term debt

41.2 m41.2 m41.2 m41.2 m41.2 m

Total Debt

41.2 m41.2 m

Total Liabilities

1.6 b1.7 b

Preferred Stock

Retained Earnings

(81.8 m)(74 m)(64.9 m)(53 m)(42.8 m)

Total Equity

132.5 m142.5 m152 m162.2 m173 m

Debt to Equity Ratio

0.3 x

Debt to Assets Ratio

0 x

Financial Leverage

11.5 x11.1 x11.4 x10.7 x10.9 x

Quarterly

USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

141.6 m123.8 m94.6 m124.9 m57.8 m113.7 m145.3 m159.9 m130.9 m

Total Assets

1.6 b1.7 b1.6 b1.7 b1.7 b1.7 b1.8 b1.8 b1.9 b

Accounts Payable

1.3 b1.4 b1.3 b1.4 b1.4 b1.4 b1.5 b1.5 b1.6 b

Long-term debt

41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m

Total Debt

41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m41.2 m

Total Liabilities

1.5 b1.5 b1.5 b1.5 b1.5 b1.6 b1.6 b1.6 b1.7 b

Retained Earnings

(69.6 m)(67.4 m)(62.4 m)(59.7 m)(56.1 m)(49.9 m)(46.5 m)(43.3 m)(38.8 m)

Total Equity

146.8 m149.7 m155.2 m158.5 m162.2 m166.1 m170.2 m173.5 m175.4 m

Financial Leverage

11 x11.1 x10.6 x10.5 x10.2 x10.5 x10.3 x10.4 x10.6 x

Macatawa Bank Corporation Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

9.5 m10.5 m12.8 m16 m16.3 m

Depreciation and Amortization

3.1 m3.1 m3 m2.8 m2.3 m

Accounts Receivable

Inventories

Accounts Payable

(3.7 m)

Cash From Operating Activities

16.3 m16.6 m14 m16.9 m22.8 m

Purchases of PP&E

(42.6 m)(43.9 m)(59.8 m)(89.2 m)(62.1 m)

Cash From Investing Activities

(41 m)(95.8 m)(95.3 m)(105.3 m)(83.2 m)

Dividends Paid

(2.7 m)(3.7 m)(4 m)(6.1 m)

Cash From Financing Activities

(44.8 m)51.8 m133.3 m(3.2 m)132 m

Interest Paid

11.9 m5.6 m5.3 m5 m5.4 m

Income Taxes Paid

120 k90 k4.3 m6.2 m4.7 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

7.3 m2.6 m5.4 m8.2 m2.8 m6.1 m9.3 m3.5 m7.2 m11.8 m4.5 m9.2 m14.1 m5.8 m

Depreciation and Amortization

2.3 m774 k1.6 m2.4 m684 k1.5 m2.2 m659 k1.4 m2.1 m537 k973 k1.4 m534 k

Accounts Payable

1.6 m

Cash From Operating Activities

16 m6.8 m10.8 m13.1 m727 k2.2 m7.8 m5.1 m9.9 m13.7 m5.4 m10.3 m18.9 m7.6 m

Purchases of PP&E

(34.5 m)(13.5 m)(21.2 m)(35 m)(10.6 m)(19.6 m)(34.5 m)(21.8 m)(43.6 m)(72.1 m)(8.9 m)(14.7 m)(48.4 m)(8.5 m)

Cash From Investing Activities

(26.8 m)(1.5 m)(13.1 m)(32.8 m)(18.3 m)(18.6 m)(79.4 m)5 m7.3 m(45.4 m)16.9 m38 m10.1 m(7 m)

Dividends Paid

(2 m)(677 k)(1.7 m)(2.7 m)(1 m)(2 m)(3 m)(1.4 m)(2.7 m)(4.4 m)(2 m)

Cash From Financing Activities

(1.7 m)(35 m)(36.7 m)(37.7 m)22.2 m28.5 m65.9 m(97 m)(73.8 m)(92 m)1.7 m7.2 m41 m(31.2 m)

Interest Paid

7.5 m1.5 m2.9 m4.3 m1.3 m2.8 m4.1 m1.3 m2.5 m3.8 m1.3 m2.6 m3.8 m1.8 m

Income Taxes Paid

95 k50 k90 k1.6 m3.7 m4.3 m3.2 m5 m825 k3.5 m

Macatawa Bank Corporation Ratios

USDY, 2018

EV/EBIT

23.6 x

EV/CFO

44.4 x

Revenue/Employee

58.7 k

Financial Leverage

10.6 x
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Macatawa Bank Corporation Operating Metrics

Macatawa Bank Corporation's Total Loans was reported to be $1.3b in Q2, 2017.
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