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M

Merchants Bancorp MBIN · USD

Financials · US listing · 🇺🇸 United States

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53.41

+3.19%

Close of 9 Nov 2026, in USD

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in USD, from our data supplier.

FY2025

Revenue, before interest expense

$1.37bn

FY2016FY2025

Net income

$218.8m

FY2016FY2025

Total assets

$19.45bn

FY2016FY2025

Shareholders' equity

$2.28bn

FY2016FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue, before interest expense$1.37bn$1.45bn$1.19bn$602.1m$461.6m$401.2m$254.6m$185.5m$138.0m$97.2m
Operating income$263.8m$422.6m$347.9m$291.1m$304.9m$243.4m$102.1m$84.0m$77.2m$54.8m
Net income$218.8m$320.4m$279.2m$219.7m$227.1m$180.5m$77.3m$62.9m$54.7m$33.1m
Diluted earnings per share4.766.986.435.085.234.181.791.441.371.03

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Total assets$19.45bn$18.81bn$16.95bn$12.62bn$11.28bn$9.65bn$6.37bn$3.88bn$3.40bn$2.72bn
Cash and short-term investments$880.9m$566.6m$1.70bn$549.5m$1.34bn$449.5m$797.0m$667.6m$767.9m$771.6m
Total liabilities$17.17bn$16.56bn$15.25bn$11.16bn$10.12bn$1.37bn$5.72bn$3.46bn$3.03bn$2.51bn
Debt$3.84bn$214.1m$192.7m$71.0m$477.0m$77.2m$18.7m$43.7m$55.0m$55.0m
Shareholders' equity$2.28bn$2.24bn$1.70bn$1.46bn$1.16bn$8.28bn$653.7m$421.2m$367.5m$206.3m
Shares outstanding46m46m43m43m43m43m43m44m40m32m

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
Revenue, before interest expense$294.1m$317.1m$354.7m$343.5m$353.7m$310.1m$379.8m$354.6m
Operating income$54.1m$84.3m$73.9m$64.6m$48.8m$76.5m$127.9m$81.3m
Net income$78.3m$67.7m$67.8m$54.7m$38.0m$58.2m$95.7m$61.3m
Diluted earnings per share1.701.471.481.190.831.272.081.33
Total assets$21.23bn$20.32bn$19.45bn$19.35bn$19.14bn$18.80bn$18.81bn$18.65bn
Cash and short-term investments$17.9m$19.6m$880.9m$1.25bn$1.32bn$1.23bn$566.6m$1.55bn
Debt$4.28bn$8.99bn$7.60bn$2.98bn$3.91bn$4.00bn$8.64bn$3.64bn
Shareholders' equity$2.39bn$2.33bn$2.28bn$2.23bn$2.18bn$2.16bn$2.24bn$1.94bn

Financial ratios

Data as of 29 Oct 2026

FY2025FY2024FY2023FY2022FY2021FY2020
Operating margin19.3%29.2%29.3%48.4%66.1%60.7%
Net margin16.0%22.1%23.5%36.5%49.2%45.0%
Return on equity9.6%14.3%16.4%15.1%19.7%2.2%
Return on assets1.1%1.7%1.6%1.7%2.0%1.9%
Revenue growth-5.7%21.7%97.5%30.4%15.1%57.6%
Earnings growth-31.7%14.7%27.1%-3.3%25.8%133.5%
Current ratio3.17x0.05x0.13x0.06x4.56x0.27x
Debt to equity3.33x1.93x1.05x0.66x1.15x0.27x
Equity ratio11.7%11.9%10.0%11.6%10.2%85.8%
Interest coverage0.39x0.54x0.55x1.79x9.00x4.15x
Buybacks as a share of market value-0.1%-5.7%-0.4%0.3%-0.4%-0.2%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue15.7%14.7%26.2%
Operating income-3.2%1.6%18.8%
Net income-0.1%3.9%22.7%

Average margins

Over each period

1 year3 years5 years10 years
Operating margin24.4%28.8%34.3%36.0%
Net margin19.2%22.6%26.4%27.4%

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Price to earnings7.25.26.64.86.04.47.39.39.6
Price to sales2.32.52.82.43.22.33.44.34.8

Market value over time

31 Oct 2017 to 28 Oct 2026, in USD

$366.1m$2.26bn

Share price return

Finished calendar years

202520242023202220212020201920182017
Return-0%-12%73%-19%58%43%2%-3%20%

Dividends and splits

Per share, in the currency the company pays

Paid for 9 years. Last went ex-dividend on 15 Sept 2026.

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Paid in the year0.330.400.360.320.280.240.2130.187
  • 3-for-2 split · 18 Jan 2022

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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