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MERCHANTS BANCORP - MBIN 7 5/8 PERP (MBINL) Stock Fundamental Analysis

USA - NASDAQ:MBINL - US58844R8503

23.42 USD
-0.21 (-0.89%)
Last: 10/3/2025, 8:00:01 PM
Fundamental Rating

3

MBINL gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 100 industry peers in the Financial Services industry. MBINL has a bad profitability rating. Also its financial health evaluation is rather negative. MBINL is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

MBINL had positive earnings in the past year.
In the past year MBINL has reported a negative cash flow from operations.
Each year in the past 5 years MBINL has been profitable.
MBINL had negative operating cash flow in 4 of the past 5 years.
MBINL Yearly Net Income VS EBIT VS OCF VS FCFMBINL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

1.2 Ratios

MBINL's Return On Assets of 1.10% is in line compared to the rest of the industry. MBINL outperforms 48.00% of its industry peers.
MBINL has a Return On Equity of 9.61%. This is comparable to the rest of the industry: MBINL outperforms 54.00% of its industry peers.
Industry RankSector Rank
ROA 1.1%
ROE 9.61%
ROIC N/A
ROA(3y)1.5%
ROA(5y)1.61%
ROE(3y)13.44%
ROE(5y)15.73%
ROIC(3y)N/A
ROIC(5y)N/A
MBINL Yearly ROA, ROE, ROICMBINL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

The Profit Margin of MBINL (31.42%) is better than 84.00% of its industry peers.
MBINL's Profit Margin has been stable in the last couple of years.
MBINL does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 31.42%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-3.67%
PM growth 5Y1.04%
GM growth 3YN/A
GM growth 5YN/A
MBINL Yearly Profit, Operating, Gross MarginsMBINL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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1

2. Health

2.1 Basic Checks

MBINL does not have a ROIC to compare to the WACC, probably because it is not profitable.
MBINL has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, MBINL has more shares outstanding
Compared to 1 year ago, MBINL has about the same debt to assets ratio.
MBINL Yearly Shares OutstandingMBINL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
MBINL Yearly Total Debt VS Total AssetsMBINL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

A Debt/Equity ratio of 0.15 indicates that MBINL is not too dependend on debt financing.
MBINL's Debt to Equity ratio of 0.15 is fine compared to the rest of the industry. MBINL outperforms 74.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC20.91%
MBINL Yearly LT Debt VS Equity VS FCFMBINL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
MBINL Yearly Current Assets VS Current LiabilitesMBINL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2023 2024 20M 40M 60M

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4

3. Growth

3.1 Past

The earnings per share for MBINL have decreased strongly by -28.85% in the last year.
The Earnings Per Share has been growing by 31.91% on average over the past years. This is a very strong growth
The Revenue has been growing slightly by 4.49% in the past year.
Measured over the past years, MBINL shows a very strong growth in Revenue. The Revenue has been growing by 31.68% on average per year.
EPS 1Y (TTM)-28.85%
EPS 3Y9.85%
EPS 5Y31.91%
EPS Q2Q%-59.73%
Revenue 1Y (TTM)4.49%
Revenue growth 3Y15.5%
Revenue growth 5Y31.68%
Sales Q2Q%-4%

3.2 Future

Based on estimates for the next years, MBINL will show a decrease in Earnings Per Share. The EPS will decrease by -2.52% on average per year.
The Revenue is expected to grow by 6.00% on average over the next years.
EPS Next Y-47.08%
EPS Next 2Y-9.98%
EPS Next 3Y-2.52%
EPS Next 5YN/A
Revenue Next Year3.84%
Revenue Next 2Y5.86%
Revenue Next 3Y6%
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.
MBINL Yearly Revenue VS EstimatesMBINL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
MBINL Yearly EPS VS EstimatesMBINL Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2 4 6

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4. Valuation

4.1 Price/Earnings Ratio

MBINL is valuated cheaply with a Price/Earnings ratio of 5.03.
Compared to the rest of the industry, the Price/Earnings ratio of MBINL indicates a rather cheap valuation: MBINL is cheaper than 95.00% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.86. MBINL is valued rather cheaply when compared to this.
MBINL is valuated cheaply with a Price/Forward Earnings ratio of 4.58.
Based on the Price/Forward Earnings ratio, MBINL is valued cheaply inside the industry as 91.00% of the companies are valued more expensively.
MBINL is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.32, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 5.03
Fwd PE 4.58
MBINL Price Earnings VS Forward Price EarningsMBINL 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
MBINL Per share dataMBINL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 30 40

4.3 Compensation for Growth

MBINL's earnings are expected to decrease with -2.52% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.16
EPS Next 2Y-9.98%
EPS Next 3Y-2.52%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 8.07%, MBINL is a good candidate for dividend investing.
MBINL's Dividend Yield is rather good when compared to the industry average which is at 5.03. MBINL pays more dividend than 91.00% of the companies in the same industry.
MBINL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
Industry RankSector Rank
Dividend Yield 8.07%

5.2 History

On average, the dividend of MBINL grows each year by 13.71%, which is quite nice.
MBINL is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)13.71%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

27.14% of the earnings are spent on dividend by MBINL. This is a low number and sustainable payout ratio.
DP27.14%
EPS Next 2Y-9.98%
EPS Next 3Y-2.52%
MBINL Yearly Income VS Free CF VS DividendMBINL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B
MBINL Dividend Payout.MBINL Dividend Payout, showing the Payout Ratio.MBINL Dividend Payout.PayoutRetained Earnings

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MERCHANTS BANCORP - MBIN 7 5/8 PERP

NASDAQ:MBINL (10/3/2025, 8:00:01 PM)

23.42

-0.21 (-0.89%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)07-28 2025-07-28/amc
Earnings (Next)10-23 2025-10-23/amc
Inst Owners34.24%
Inst Owner ChangeN/A
Ins Owners40.17%
Ins Owner ChangeN/A
Market Cap1.07B
Analysts80
Price Target28.45 (21.48%)
Short Float %0.04%
Short Ratio0.13
Dividend
Industry RankSector Rank
Dividend Yield 8.07%
Yearly Dividend1.14
Dividend Growth(5Y)13.71%
DP27.14%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-33.06%
Min EPS beat(2)-47.48%
Max EPS beat(2)-18.65%
EPS beat(4)1
Avg EPS beat(4)-11.33%
Min EPS beat(4)-47.48%
Max EPS beat(4)40.24%
EPS beat(8)4
Avg EPS beat(8)1.17%
EPS beat(12)6
Avg EPS beat(12)0.66%
EPS beat(16)9
Avg EPS beat(16)3.78%
Revenue beat(2)0
Avg Revenue beat(2)-10.98%
Min Revenue beat(2)-15.12%
Max Revenue beat(2)-6.84%
Revenue beat(4)1
Avg Revenue beat(4)-3.69%
Min Revenue beat(4)-15.12%
Max Revenue beat(4)19.63%
Revenue beat(8)4
Avg Revenue beat(8)2.13%
Revenue beat(12)6
Avg Revenue beat(12)1.89%
Revenue beat(16)9
Avg Revenue beat(16)4.04%
PT rev (1m)3.73%
PT rev (3m)-7.87%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-25.75%
EPS NY rev (1m)0%
EPS NY rev (3m)-26.36%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.52%
Revenue NY rev (1m)-0.05%
Revenue NY rev (3m)3.17%
Valuation
Industry RankSector Rank
PE 5.03
Fwd PE 4.58
P/S 1.61
P/FCF N/A
P/OCF N/A
P/B 0.49
P/tB 0.54
EV/EBITDA N/A
EPS(TTM)4.66
EY19.9%
EPS(NY)5.11
Fwd EY21.83%
FCF(TTM)-10.82
FCFYN/A
OCF(TTM)-10.35
OCFYN/A
SpS14.57
BVpS47.59
TBVpS43.21
PEG (NY)N/A
PEG (5Y)0.16
Profitability
Industry RankSector Rank
ROA 1.1%
ROE 9.61%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 31.42%
GM N/A
FCFM N/A
ROA(3y)1.5%
ROA(5y)1.61%
ROE(3y)13.44%
ROE(5y)15.73%
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
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-3.67%
PM growth 5Y1.04%
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.03
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 695.13%
Cap/Sales 3.2%
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-Score3
WACC20.91%
ROIC/WACCN/A
Cap/Depr(3y)405.6%
Cap/Depr(5y)314.85%
Cap/Sales(3y)2%
Cap/Sales(5y)1.57%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-28.85%
EPS 3Y9.85%
EPS 5Y31.91%
EPS Q2Q%-59.73%
EPS Next Y-47.08%
EPS Next 2Y-9.98%
EPS Next 3Y-2.52%
EPS Next 5YN/A
Revenue 1Y (TTM)4.49%
Revenue growth 3Y15.5%
Revenue growth 5Y31.68%
Sales Q2Q%-4%
Revenue Next Year3.84%
Revenue Next 2Y5.86%
Revenue Next 3Y6%
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 1Y-11.15%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-7.46%
OCF growth 3YN/A
OCF growth 5YN/A