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

USA - NASDAQ:MBINL - US58844R8503

23.39 USD
0 (0%)
Last: 9/12/2025, 8:00:01 PM
23.31 USD
-0.08 (-0.34%)
After Hours: 9/12/2025, 8:00:01 PM
Fundamental Rating

3

MBINL gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 101 industry peers in the Financial Services industry. Both the profitability and financial health of MBINL have multiple concerns. MBINL has a correct valuation and a medium 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.
MBINL had a negative operating cash flow in the past year.
Each year in the past 5 years MBINL has been profitable.
In the past 5 years MBINL reported 4 times negative operating cash flow.
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 has a Return On Assets (1.09%) which is in line with its industry peers.
The Return On Equity of MBINL (9.58%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 1.09%
ROE 9.58%
ROIC N/A
ROA(3y)1.5%
ROA(5y)1.61%
ROE(3y)13.43%
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

Looking at the Profit Margin, with a value of 31.31%, MBINL belongs to the top of the industry, outperforming 84.16% of the companies in the same industry.
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) 31.31%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-3.71%
PM growth 5Y1.01%
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.
MBINL has more shares outstanding than it did 5 years ago.
The debt/assets ratio for MBINL has remained at the same level compared to a year ago.
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.
With a decent Debt to Equity ratio value of 0.15, MBINL is doing good in the industry, outperforming 75.25% of the companies in the same industry.
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

MBINL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -28.85%.
MBINL shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 31.91% yearly.
MBINL shows a small growth in Revenue. In the last year, the Revenue has grown by 4.49%.
The Revenue has been growing by 31.68% on average over the past years. This is a very strong growth!
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

The Earnings Per Share is expected to decrease by -2.52% on average over the next years.
Based on estimates for the next years, MBINL will show a small growth in Revenue. The Revenue will grow by 6.96% on average per year.
EPS Next Y-47.08%
EPS Next 2Y-9.96%
EPS Next 3Y-2.52%
EPS Next 5YN/A
Revenue Next Year3.9%
Revenue Next 2Y5.87%
Revenue Next 3Y6.96%
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 5.02 indicates a rather cheap valuation of MBINL.
Based on the Price/Earnings ratio, MBINL is valued cheaper than 95.05% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.30. MBINL is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 4.57, the valuation of MBINL can be described as very cheap.
Based on the Price/Forward Earnings ratio, MBINL is valued cheaply inside the industry as 94.06% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.73, MBINL is valued rather cheaply.
Industry RankSector Rank
PE 5.02
Fwd PE 4.57
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-9.96%
EPS Next 3Y-2.52%

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3

5. Dividend

5.1 Amount

MBINL has a Yearly Dividend Yield of 1.25%.
MBINL's Dividend Yield is comparable with the industry average which is at 4.86.
With a Dividend Yield of 1.25, MBINL pays less dividend than the S&P500 average, which is at 2.41.
Industry RankSector Rank
Dividend Yield 1.25%

5.2 History

The dividend of MBINL is nicely growing with an annual growth rate of 13.84%!
MBINL does not have a reliable dividend history as it only pays dividend since a couple or years.
Dividend Growth(5Y)13.84%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

MBINL pays out 27.18% of its income as dividend. This is a sustainable payout ratio.
DP27.18%
EPS Next 2Y-9.96%
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 (9/12/2025, 8:00:01 PM)

After market: 23.31 -0.08 (-0.34%)

23.39

0 (0%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)07-28 2025-07-28/amc
Earnings (Next)10-27 2025-10-27/amc
Inst Owners33.55%
Inst Owner ChangeN/A
Ins Owners40.15%
Ins Owner ChangeN/A
Market Cap1.07B
Analysts80
Price Target28.5 (21.85%)
Short Float %0.03%
Short Ratio0.08
Dividend
Industry RankSector Rank
Dividend Yield 1.25%
Yearly Dividend1.15
Dividend Growth(5Y)13.84%
DP27.18%
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)-4.17%
PT rev (3m)-6.3%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-37.78%
EPS NY rev (1m)-27.01%
EPS NY rev (3m)-35.94%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.98%
Revenue NY rev (1m)2.9%
Revenue NY rev (3m)3.22%
Valuation
Industry RankSector Rank
PE 5.02
Fwd PE 4.57
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
EY19.92%
EPS(NY)5.12
Fwd EY21.87%
FCF(TTM)-10.84
FCFYN/A
OCF(TTM)-10.36
OCFYN/A
SpS14.57
BVpS47.61
TBVpS43.22
PEG (NY)N/A
PEG (5Y)0.16
Profitability
Industry RankSector Rank
ROA 1.09%
ROE 9.58%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 31.31%
GM N/A
FCFM N/A
ROA(3y)1.5%
ROA(5y)1.61%
ROE(3y)13.43%
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-3.71%
PM growth 5Y1.01%
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 720.79%
Cap/Sales 3.33%
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)409.66%
Cap/Depr(5y)317.29%
Cap/Sales(3y)2.02%
Cap/Sales(5y)1.59%
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-9.96%
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 Year3.9%
Revenue Next 2Y5.87%
Revenue Next 3Y6.96%
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-11.42%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-7.55%
OCF growth 3YN/A
OCF growth 5YN/A