MBIN

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Merchants Bancorp

Cyclical demand Regulated industryTags from an AI model reading the company description.

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Key Metrics

Previous Close: $49.52
52-Week Range: $30.37 – $56.87
Market Cap: $2.29B
P/E (TTM): 10.03
EPS (TTM): 4.98
Dividend Yield: 0.88%

Advanced Metrics

Price/Book: 1.25
PEG Ratio: —
Return on Equity: 11.73%
Return on Assets: 1.33%
Gross Margin: 0.00%
Operating Margin: 61.07%
Profit Margin: 42.47%
Current Ratio: —
Debt/Equity: —
Total Debt: $4.30B
Free Cash Flow: —
Revenue Growth: 37.10%
Earnings Growth: 146.70%
Enterprise Value: $6.35B

MBIN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$439.78M	$559.33M	$666.97M	$677.24M
Selling, General & Admin	$92.55M	$121.76M	$156.88M	$198.31M
Pretax Income	$291.14M	$347.91M	$422.64M	$263.80M
Income Tax	$71.42M	$68.67M	$102.26M	$45.03M
Net Income	$219.72M	$279.23M	$320.39M	$218.77M
Diluted EPS	4.47	5.64	6.30	3.78
Diluted Shares	43.32M	43.35M	45.00M	45.94M

MBIN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$226.16M	$584.42M	$476.61M	$212.20M
Receivables	$56.26M	$91.35M	$83.41M	$81.81M
Total Assets	$12.62B	$16.95B	$18.81B	$19.45B
Long-Term Debt	$910.39M	$964.13M	$4.34B	$3.84B
Total Debt	$910.39M	$964.13M	$4.34B	$3.84B
Total Liabilities	$11.16B	$15.25B	$16.56B	$17.17B
Retained Earnings	$832.87M	$1.06B	$1.33B	$1.49B
Shareholders' Equity	$1.46B	$1.70B	$2.24B	$2.28B
Net Debt	$684.23M	$379.70M	$3.86B	$3.63B

MBIN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$975.77M	-$356.40M	-$835.28M	-$341.25M
Capital Expenditure	-$8.82M	-$7.53M	-$18.39M	-$35.42M
Free Cash Flow	$966.96M	-$363.93M	-$853.67M	-$376.67M
Depreciation & Amortisation	$2.48M	$2.85M	$3.01M	$3.46M
Investing Cash Flow	-$2.86B	-$3.26B	-$874.27M	-$195.67M
Financing Cash Flow	$1.08B	$3.97B	$1.60B	$272.51M
Dividends Paid	-$38.07M	-$48.51M	-$51.17M	-$59.42M
Share Repurchases	-$3.94M	$0.00	-$177.04M	$0.00
Net Change in Cash	-$806.45M	$358.26M	-$107.81M	-$264.41M

MBIN Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$178.06M	$169.81M	$184.28M	$174.06M	$181.04M
Selling, General & Admin	$50.72M	$53.53M	$50.41M	$46.97M	$45.24M
Pretax Income	$48.84M	$64.58M	$73.88M	$84.31M	$99.78M
Income Tax	$10.85M	$9.88M	$6.04M	$16.57M	$21.48M
Net Income	$37.98M	$54.70M	$67.85M	$67.73M	$78.30M
Diluted EPS	0.60	0.97	1.28	1.25	1.48
Diluted Shares	45.93M	45.95M	45.98M	46.00M	46.01M

MBIN Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$647.16M	$598.04M	$212.20M	$83.22M	$314.70M
Receivables	$82.39M	$82.44M	$81.81M	$77.33M	$82.08M
Total Assets	$19.14B	$19.35B	$19.45B	$20.32B	$21.23B
Long-Term Debt	$3.83B	$2.90B	$3.84B	$4.63B	$4.28B
Total Debt	$3.83B	$2.90B	$3.84B	$4.63B	$4.28B
Total Liabilities	$16.96B	$17.13B	$17.17B	$17.99B	$18.84B
Retained Earnings	$1.39B	$1.43B	$1.49B	$1.54B	$1.60B
Shareholders' Equity	$2.18B	$2.23B	$2.28B	$2.33B	$2.39B
Net Debt	$3.19B	$2.30B	$3.63B	$4.55B	$3.97B

MBIN Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$121.15M	$29.77M	-$397.90M	-$597.32M	$213.31M
Capital Expenditure	-$4.57M	-$18.64M	-$5.36M	-$1.27M	-$2.44M
Free Cash Flow	-$125.72M	$11.13M	-$403.25M	-$598.60M	$210.87M
Depreciation & Amortisation	$770.00K	$765.00K	$1.16M	$1.37M	$1.40M
Investing Cash Flow	-$26.33M	-$181.13M	$12.69M	-$335.26M	-$768.94M
Financing Cash Flow	$273.35M	$102.23M	-$620.00K	$803.59M	$787.11M
Dividends Paid	-$14.85M	-$14.85M	-$14.86M	-$15.32M	-$15.32M
Share Repurchases	$0.00	$0.00	$0.00	-$3.00M	$0.00
Net Change in Cash	$125.87M	-$49.13M	-$385.83M	-$128.99M	$231.49M

Market Snapshot

About

Merchants Bancorp is a diversified bank holding company offering multiple lines of business including multi-family housing and healthcare facility financing, mortgage warehouse lending, and retail and correspondent residential mortgage banking.