MERCHANTS BANCORP/IN (MBIN) Fundamental Analysis & Valuation

NASDAQ:MBIN • US58844R1086

Current stock price

44.22 USD
+1.31 (+3.05%)
Last:

This MBIN fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

2

1. MBIN Profitability Analysis

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.
  • In the past 5 years MBIN has always been profitable.
  • MBIN had negative operating cash flow in 4 of the past 5 years.
MBIN Yearly Net Income VS EBIT VS OCF VS FCFMBIN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M -1B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 0.89%, MBIN is doing worse than 60.00% of the companies in the same industry.
  • With a Return On Equity value of 7.61%, MBIN perfoms like the industry average, outperforming 48.00% of the companies in the same industry.
Industry RankSector Rank
ROA 0.89%
ROE 7.61%
ROIC N/A
ROA(3y)1.28%
ROA(5y)1.44%
ROE(3y)11.54%
ROE(5y)13.15%
ROIC(3y)N/A
ROIC(5y)N/A
MBIN Yearly ROA, ROE, ROICMBIN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • MBIN has a better Profit Margin (25.47%) than 81.00% of its industry peers.
  • In the last couple of years the Profit Margin of MBIN has declined.
  • The Operating Margin and Gross Margin are not available for MBIN so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 25.47%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-16.4%
PM growth 5Y-11.62%
GM growth 3YN/A
GM growth 5YN/A
MBIN Yearly Profit, Operating, Gross MarginsMBIN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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2

2. MBIN Health Analysis

2.1 Basic Checks

  • MBIN does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • Compared to 1 year ago, MBIN has more shares outstanding
  • MBIN has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for MBIN has been reduced compared to a year ago.
MBIN Yearly Shares OutstandingMBIN Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10M 20M 30M 40M
MBIN Yearly Total Debt VS Total AssetsMBIN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B

2.2 Solvency

  • A Debt/Equity ratio of 0.03 indicates that MBIN is not too dependend on debt financing.
  • MBIN has a Debt to Equity ratio of 0.03. This is amongst the best in the industry. MBIN outperforms 81.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC13.08%
MBIN Yearly LT Debt VS Equity VS FCFMBIN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MBIN Yearly Current Assets VS Current LiabilitesMBIN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. MBIN Growth Analysis

3.1 Past

  • The earnings per share for MBIN have decreased strongly by -38.35% in the last year.
  • Measured over the past 5 years, MBIN shows a small growth in Earnings Per Share. The EPS has been growing by 0.19% on average per year.
  • Looking at the last year, MBIN shows a small growth in Revenue. The Revenue has grown by 1.60% in the last year.
  • The Revenue has been growing by 14.15% on average over the past years. This is quite good.
EPS 1Y (TTM)-38.35%
EPS 3Y-4.53%
EPS 5Y0.19%
EPS Q2Q%-30.81%
Revenue 1Y (TTM)1.6%
Revenue growth 3Y15.31%
Revenue growth 5Y14.15%
Sales Q2Q%-4.38%

3.2 Future

  • MBIN is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.28% yearly.
  • MBIN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.45% yearly.
EPS Next Y37.3%
EPS Next 2Y22.84%
EPS Next 3Y18.28%
EPS Next 5YN/A
Revenue Next Year9.24%
Revenue Next 2Y6.45%
Revenue Next 3Y6.45%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better 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.
MBIN Yearly Revenue VS EstimatesMBIN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M 800M
MBIN Yearly EPS VS EstimatesMBIN Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6

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5

4. MBIN Valuation Analysis

4.1 Price/Earnings Ratio

  • MBIN is valuated reasonably with a Price/Earnings ratio of 11.37.
  • MBIN's Price/Earnings is on the same level as the industry average.
  • When comparing the Price/Earnings ratio of MBIN to the average of the S&P500 Index (25.58), we can say MBIN is valued rather cheaply.
  • MBIN is valuated reasonably with a Price/Forward Earnings ratio of 8.28.
  • Based on the Price/Forward Earnings ratio, MBIN is valued a bit cheaper than 67.00% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.81, MBIN is valued rather cheaply.
Industry RankSector Rank
PE 11.37
Fwd PE 8.28
MBIN Price Earnings VS Forward Price EarningsMBIN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
MBIN Per share dataMBIN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as MBIN's earnings are expected to grow with 18.28% in the coming years.
PEG (NY)0.3
PEG (5Y)59.95
EPS Next 2Y22.84%
EPS Next 3Y18.28%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. MBIN Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.02%, MBIN has a reasonable but not impressive dividend return.
  • MBIN's Dividend Yield is comparable with the industry average which is at 2.13.
  • Compared to an average S&P500 Dividend Yield of 1.89, MBIN's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.02%

5.2 History

  • The dividend of MBIN is nicely growing with an annual growth rate of 9.49%!
  • MBIN has paid a dividend for at least 10 years, which is a reliable track record.
  • MBIN has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)9.49%
Div Incr Years7
Div Non Decr Years7
MBIN Yearly Dividends per shareMBIN Yearly Dividends per shareYearly Dividends per share 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0 0 0 0

5.3 Sustainability

  • MBIN pays out 34.24% of its income as dividend. This is a sustainable payout ratio.
  • The dividend of MBIN is growing, but earnings are growing more, so the dividend growth is sustainable.
DP34.24%
EPS Next 2Y22.84%
EPS Next 3Y18.28%
MBIN Yearly Income VS Free CF VS DividendMBIN Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M -1B
MBIN Dividend Payout.MBIN Dividend Payout, showing the Payout Ratio.MBIN Dividend Payout.PayoutRetained Earnings

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MBIN Fundamentals: All Metrics, Ratios and Statistics

MERCHANTS BANCORP/IN

NASDAQ:MBIN (4/1/2026, 2:01:26 PM)

44.22

+1.31 (+3.05%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)01-28
Earnings (Next)04-23
Inst Owners35.78%
Inst Owner Change1.39%
Ins Owners40.15%
Ins Owner Change-1.44%
Market Cap2.03B
Revenue(TTM)681.45M
Net Income(TTM)173.55M
Analysts80
Price Target51.34 (16.1%)
Short Float %10.17%
Short Ratio6.85
Dividend
Industry RankSector Rank
Dividend Yield 1.02%
Yearly Dividend1.3
Dividend Growth(5Y)9.49%
DP34.24%
Div Incr Years7
Div Non Decr Years7
Ex-Date03-13
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)27.08%
Min EPS beat(2)20.48%
Max EPS beat(2)33.69%
EPS beat(4)2
Avg EPS beat(4)-2.99%
Min EPS beat(4)-47.48%
Max EPS beat(4)33.69%
EPS beat(8)4
Avg EPS beat(8)3.91%
EPS beat(12)7
Avg EPS beat(12)5.09%
EPS beat(16)9
Avg EPS beat(16)5.16%
Revenue beat(2)2
Avg Revenue beat(2)4.34%
Min Revenue beat(2)2.33%
Max Revenue beat(2)6.35%
Revenue beat(4)2
Avg Revenue beat(4)-3.32%
Min Revenue beat(4)-15.12%
Max Revenue beat(4)6.35%
Revenue beat(8)4
Avg Revenue beat(8)0.68%
Revenue beat(12)7
Avg Revenue beat(12)1.84%
Revenue beat(16)9
Avg Revenue beat(16)2.41%
PT rev (1m)0%
PT rev (3m)14.52%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.48%
EPS NY rev (1m)1.75%
EPS NY rev (3m)5.76%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.4%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.02%
Valuation
Industry RankSector Rank
PE 11.37
Fwd PE 8.28
P/S 2.98
P/FCF N/A
P/OCF N/A
P/B 0.89
P/tB 0.99
EV/EBITDA N/A
EPS(TTM)3.89
EY8.8%
EPS(NY)5.34
Fwd EY12.08%
FCF(TTM)-8.2
FCFYN/A
OCF(TTM)-7.42
OCFYN/A
SpS14.83
BVpS49.62
TBVpS44.72
PEG (NY)0.3
PEG (5Y)59.95
Graham Number65.9
Profitability
Industry RankSector Rank
ROA 0.89%
ROE 7.61%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 25.47%
GM N/A
FCFM N/A
ROA(3y)1.28%
ROA(5y)1.44%
ROE(3y)11.54%
ROE(5y)13.15%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-16.4%
PM growth 5Y-11.62%
GM growth 3YN/A
GM growth 5YN/A
F-Score2
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 1022.31%
Cap/Sales 5.2%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score2
WACC13.08%
ROIC/WACCN/A
Cap/Depr(3y)632.15%
Cap/Depr(5y)483.53%
Cap/Sales(3y)3.09%
Cap/Sales(5y)2.42%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-38.35%
EPS 3Y-4.53%
EPS 5Y0.19%
EPS Q2Q%-30.81%
EPS Next Y37.3%
EPS Next 2Y22.84%
EPS Next 3Y18.28%
EPS Next 5YN/A
Revenue 1Y (TTM)1.6%
Revenue growth 3Y15.31%
Revenue growth 5Y14.15%
Sales Q2Q%-4.38%
Revenue Next Year9.24%
Revenue Next 2Y6.45%
Revenue Next 3Y6.45%
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y55.88%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y59.15%
OCF growth 3YN/A
OCF growth 5YN/A

MERCHANTS BANCORP/IN / MBIN Fundamental Analysis FAQ

What is the fundamental rating for MBIN stock?

ChartMill assigns a fundamental rating of 3 / 10 to MBIN.


Can you provide the valuation status for MERCHANTS BANCORP/IN?

ChartMill assigns a valuation rating of 5 / 10 to MERCHANTS BANCORP/IN (MBIN). This can be considered as Fairly Valued.


Can you provide the profitability details for MERCHANTS BANCORP/IN?

MERCHANTS BANCORP/IN (MBIN) has a profitability rating of 2 / 10.


Can you provide the PE and PB ratios for MBIN stock?

The Price/Earnings (PE) ratio for MERCHANTS BANCORP/IN (MBIN) is 11.37 and the Price/Book (PB) ratio is 0.89.


Can you provide the expected EPS growth for MBIN stock?

The Earnings per Share (EPS) of MERCHANTS BANCORP/IN (MBIN) is expected to grow by 37.3% in the next year.