MERCHANTS BANCORP/IN (MBIN) Fundamental Analysis & Valuation

NASDAQ:MBIN • US58844R1086

Current stock price

49.38 USD
-0.51 (-1.02%)
At close:
49.5 USD
+0.12 (+0.24%)
After Hours:

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.
  • MBIN had a negative operating cash flow in the past year.
  • MBIN had positive earnings in each of the past 5 years.
  • 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

  • MBIN has a Return On Assets (0.89%) which is in line with its industry peers.
  • MBIN's Return On Equity of 7.61% is in line compared to the rest of the industry. MBIN outperforms 45.45% of its industry peers.
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

  • With an excellent Profit Margin value of 25.47%, MBIN belongs to the best of the industry, outperforming 82.83% of the companies in the same industry.
  • MBIN's Profit Margin has declined in the last couple of years.
  • 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.
  • MBIN has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, MBIN has more shares outstanding
  • Compared to 1 year ago, MBIN has an improved debt to assets ratio.
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.
  • With an excellent Debt to Equity ratio value of 0.03, MBIN belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC12.76%
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.
  • The Earnings Per Share has been growing slightly by 0.19% on average over the past years.
  • Looking at the last year, MBIN shows a small growth in Revenue. The Revenue has grown by 1.60% in the last year.
  • Measured over the past years, MBIN shows a quite strong growth in Revenue. The Revenue has been growing by 14.15% on average per year.
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

  • Based on estimates for the next years, MBIN will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.28% on average per year.
  • The Revenue is expected to grow by 6.45% on average over the next years.
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

  • Based on the Price/Earnings ratio of 12.69, the valuation of MBIN can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of MBIN is on the same level as its industry peers.
  • MBIN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.71.
  • A Price/Forward Earnings ratio of 9.25 indicates a reasonable valuation of MBIN.
  • MBIN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. MBIN is cheaper than 63.64% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 38.09. MBIN is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 12.69
Fwd PE 9.25
MBIN Price Earnings VS Forward Price EarningsMBIN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

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)0.34
PEG (5Y)66.95
EPS Next 2Y22.84%
EPS Next 3Y18.28%

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

5

5. MBIN Dividend Analysis

5.1 Amount

  • MBIN has a yearly dividend return of 0.93%, which is pretty low.
  • MBIN's Dividend Yield is comparable with the industry average which is at 1.82.
  • Compared to an average S&P500 Dividend Yield of 1.81, MBIN's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.93%

5.2 History

  • The dividend of MBIN is nicely growing with an annual growth rate of 9.49%!
  • MBIN has been paying a dividend for at least 10 years, so it has 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 Years8
Div Non Decr Years8
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 (4/21/2026, 8:00:01 PM)

After market: 49.5 +0.12 (+0.24%)

49.38

-0.51 (-1.02%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)01-28
Earnings (Next)04-23
Inst Owners35.98%
Inst Owner Change167.86%
Ins Owners40.09%
Ins Owner Change-1.44%
Market Cap2.27B
Revenue(TTM)681.45M
Net Income(TTM)173.55M
Analysts80
Price Target49.64 (0.53%)
Short Float %6.56%
Short Ratio4.44
Dividend
Industry RankSector Rank
Dividend Yield 0.93%
Yearly Dividend1.3
Dividend Growth(5Y)9.49%
DP34.24%
Div Incr Years8
Div Non Decr Years8
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)2.82%
PT rev (3m)17.74%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.48%
EPS NY rev (1m)0%
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 12.69
Fwd PE 9.25
P/S 3.33
P/FCF N/A
P/OCF N/A
P/B 0.99
P/tB 1.1
EV/EBITDA N/A
EPS(TTM)3.89
EY7.88%
EPS(NY)5.34
Fwd EY10.82%
FCF(TTM)-8.2
FCFYN/A
OCF(TTM)-7.43
OCFYN/A
SpS14.83
BVpS49.65
TBVpS44.74
PEG (NY)0.34
PEG (5Y)66.95
Graham Number65.9189 (33.49%)
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
WACC12.76%
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 Year-2.71%
EBIT Next 3Y6.29%
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 12.69 and the Price/Book (PB) ratio is 0.99.


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.