Merchants Bancorp (MBIN)

NASDAQ: MBIN · Real-Time Price · USD

55.18

-0.33 (-0.59%)

Jul 31, 2026, 4:00 PM EDT - Market closed

Merchants Bancorp Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	632.34	563.69	646.45	522.51	427.19	430.32
Revenue Growth	5.73%	-12.80%	23.72%	22.31%	-0.73%	26.65%
Net Income	228.74	173.55	283.65	244.56	193.74	206.23
Earnings Per Share	4.98	3.78	6.30	5.64	4.47	4.76
EPS Growth	9.45%	-40.00%	11.70%	26.17%	-6.09%	23.64%

Revenue by Segment

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Multi-Family Mortgage Banking	173.81	174.19	129.65	156.97	142.56
Mortgage Warehousing	149.2	131.14	103.41	73.15	138.61
Banking	240.62	338.12	287.47	194.92	145.11
Other	0.06	3	1.98	2.15	4.03
Total	563.69	646.45	522.51	427.19	430.32

Cash & Debt

Selected indicators aren't available for this stock.

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	-1,087	-341.25	-835.28	-356.4	975.77	-49.22
Capital Expenditures	-15.23	-20.94	-18.39	-7.53	-6.76	-3.65
Free Cash Flow	-1,102	-362.19	-853.67	-363.93	969.01	-52.86
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Pretax Margin	51.01%	46.80%	65.38%	66.58%	68.15%	70.86%
Profit Margin	42.47%	38.81%	49.56%	53.44%	51.43%	52.78%
FCF Margin	0.00%	-64.25%	-132.05%	-69.65%	226.83%	-12.28%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 1, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	0.440	0.400	0.360	0.320	0.280	0.240
Dividend Per Share Growth	10.53%	11.11%	12.50%	14.29%	16.67%	14.29%
Dividend Yield	0.80%	3.80%	3.13%	2.64%	3.63%	2.29%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 1, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	11.08	9.01	5.79	7.55	5.44	6.63
Forward PE	9.55	7.50	6.86	7.71	5.73	7.98
P/FCF Ratio	-	-	-	-	1.08	-
PS Ratio	4.01	2.77	2.58	3.52	2.45	3.17