MERCHANTS BANCORP/IN (MBIN)
US58844R1086 - Common Stock
MBIN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 102 industry peers in the Financial Services industry. MBIN has a bad profitability rating. Also its financial health evaluation is rather negative. MBIN is not overvalued while it is showing excellent growth. This is an interesting combination.
1. Profitability
1.1 Basic Checks
MBIN had positive earnings in the past year.
In the past year MBIN has reported a negative cash flow from operations.
MBIN had positive earnings in each of the past 5 years.
MBIN had negative operating cash flow in 4 of the past 5 years.
1.2 Ratios
MBIN has a Return On Assets (1.44%) which is in line with its industry peers.
MBIN's Return On Equity of 14.38% is fine compared to the rest of the industry. MBIN outperforms 69.61% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.44% | ||
| ROE | 14.38% | ||
| ROIC | N/A |
ROA(3y)1.6%
ROA(5y)1.52%
ROE(3y)15.17%
ROE(5y)15.28%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
With an excellent Profit Margin value of 43.46%, MBIN belongs to the best of the industry, outperforming 85.29% of the companies in the same industry.
In the last couple of years the Profit Margin of MBIN has remained more or less at the same level.
MBIN does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | N/A | ||
| PM (TTM) | 43.46% | ||
| GM | N/A |
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-2.73%
PM growth 5Y0.37%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
MBIN does not have a ROIC to compare to the WACC, probably because it is not profitable.
MBIN has more shares outstanding than it did 1 year ago.
The number of shares outstanding for MBIN has been increased compared to 5 years ago.
Compared to 1 year ago, MBIN has a worse debt to assets ratio.
2.2 Solvency
MBIN has a Debt/Equity ratio of 0.04. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.04, MBIN is doing good in the industry, outperforming 78.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.04 | ||
| Debt/FCF | N/A | ||
| Altman-Z | N/A |
ROIC/WACCN/A
WACC22.52%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 26.17% over the past year.
MBIN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 32.39% yearly.
The Revenue has grown by 26.60% in the past year. This is a very strong growth!
MBIN shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 32.16% yearly.
EPS 1Y (TTM)26.17%
EPS 3Y13.54%
EPS 5Y32.39%
EPS growth Q2Q41.07%
Revenue 1Y (TTM)26.6%
Revenue growth 3Y16.97%
Revenue growth 5Y32.16%
Revenue growth Q2Q34.11%
3.2 Future
The Earnings Per Share is expected to grow by 1.44% on average over the next years.
MBIN is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.27% yearly.
EPS Next Y2.14%
EPS Next 2Y1.44%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year12.39%
Revenue Next 2Y8.27%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 8.13, the valuation of MBIN can be described as very reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of MBIN indicates a rather cheap valuation: MBIN is cheaper than 84.31% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of MBIN to the average of the S&P500 Index (28.28), we can say MBIN is valued rather cheaply.
MBIN is valuated cheaply with a Price/Forward Earnings ratio of 7.96.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MBIN indicates a rather cheap valuation: MBIN is cheaper than 84.31% of the companies listed in the same industry.
MBIN is valuated cheaply when we compare the Price/Forward Earnings ratio to 20.88, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.13 | ||
| Fwd PE | 7.96 |
4.2 Price Multiples
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates MBIN does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)3.79
PEG (5Y)0.25
EPS Next 2Y1.44%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a yearly dividend of 0.84%, MBIN is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.57, MBIN pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.41, MBIN's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.84% |
5.2 History
The dividend of MBIN is nicely growing with an annual growth rate of 25.83%!
MBIN has been paying a dividend for over 5 years, so it has already some track record.
MBIN has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)25.83%
Div Incr Years6
Div Non Decr Years6
5.3 Sustainability
MBIN pays out 19.83% of its income as dividend. This is a sustainable payout ratio.
The dividend of MBIN is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP19.83%
EPS Next 2Y1.44%
EPS Next 3YN/A
MERCHANTS BANCORP/IN
NASDAQ:MBIN (5/3/2024, 7:04:55 PM)
After market: 45.87 0 (0%)45.87
+2.85 (+6.62%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap1.99B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.84% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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Min EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.13 | ||
| Fwd PE | 7.96 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)3.79
PEG (5Y)0.25
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.44% | ||
| ROE | 14.38% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | N/A | ||
| PM (TTM) | 43.46% | ||
| GM | N/A | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.03
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.04 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | N/A | ||
| Quick Ratio | N/A | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)26.17%
EPS 3Y13.54%
EPS 5Y
EPS growth Q2Q
EPS Next Y2.14%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)26.6%
Revenue growth 3Y16.97%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y