MSBINasdaqState Commercial BanksFiscal year ends December 31Also trades as MSBIP
Midland States Bancorp, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$31.80−0.42 (-1.30%)
Close on Oct 19, 2026
- Market cap
- $670.17M
- P/E (TTM)
- 20.4
- Dividend yield
- 3.96%
Margins
Share of revenue, fiscal years 2013 to 2025
Net margin
-38.2%−46.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -13.4% | -7.2% | +4.5% | +7.1% | |
| Free cash flow | -29.1% | -24.7% | -24.7% | +6.0% | |
| Dividend per share | +1.6% | +2.8% | +3.3% | +6.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.4% | 3.5% | -19.5% | |
| Return on assets | 1.0% | 0.3% | -1.8% | |
| Capex to revenue | 1.2% | 1.0% | 1.6% | |
| Diluted shares | 14M | 23M | 22M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Midland States Bancorp generated $1.08B from operations and spent $205.42M on capital expenditure, dividends and share buybacks. 13% of that went back into the business.
Generated
$1.08B
Used
$205.42M
Capital expenditure$27.17M13%Dividends$132.42M64%Share buybacks$45.83M22%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-38.2%
×Asset turnover0.05×
×Equity multiplier10.98×
=Return on equity, FY2025-19.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -38.2% | 0.05× | 10.98× | -19.5% |
| FY2024 | 10.1% | 0.05× | 10.73× | 5.3% |
| FY2023 | 16.8% | 0.05× | 11.04× | 8.7% |
| FY2022 | 24.7% | 0.05× | 11.75× | 15.5% |
| FY2021 | 29.3% | 0.04× | 11.72× | 13.3% |
| FY2020 | 8.7% | 0.04× | 10.10× | 3.5% |
| FY2019 | 21.0% | 0.05× | 9.23× | 8.8% |
| FY2018 | 15.7% | 0.05× | 9.50× | 7.5% |
| FY2017 | 8.5% | 0.05× | 9.91× | 4.2% |
| FY2016 | 17.8% | 0.06× | 11.03× | 11.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$124.28M
- Cash generatingOperating cash flow above zero$125.68M
- Return on assets improvedROA up on the prior year0.5% → -1.7%
- Earnings backed by cashOperating cash flow above net income$125.68M vs -$124.28M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise22M → 22M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.05 → 0.04