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MERCHANTS BANCORP - MBIN 6 PERP (MBINN) Stock Fundamental Analysis

USA - NASDAQ:MBINN - US58844R7026

21.34 USD
-0.03 (-0.14%)
Last: 10/3/2025, 8:00:01 PM
Fundamental Rating

3

MBINN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 100 industry peers in the Financial Services industry. MBINN may be in some trouble as it scores bad on both profitability and health. MBINN has a correct valuation and a medium growth rate. Finally MBINN also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

MBINN had positive earnings in the past year.
In the past year MBINN has reported a negative cash flow from operations.
Each year in the past 5 years MBINN has been profitable.
MBINN had negative operating cash flow in 4 of the past 5 years.
MBINN Yearly Net Income VS EBIT VS OCF VS FCFMBINN 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

MBINN's Return On Assets of 1.10% is in line compared to the rest of the industry. MBINN outperforms 49.00% of its industry peers.
MBINN has a Return On Equity (9.61%) which is in line with 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
MBINN Yearly ROA, ROE, ROICMBINN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

With an excellent Profit Margin value of 31.42%, MBINN belongs to the best of the industry, outperforming 85.00% of the companies in the same industry.
In the last couple of years the Profit Margin of MBINN has remained more or less at the same level.
The Operating Margin and Gross Margin are not available for MBINN so they could not be analyzed.
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
MBINN Yearly Profit, Operating, Gross MarginsMBINN 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

MBINN does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for MBINN has been increased compared to 1 year ago.
MBINN has more shares outstanding than it did 5 years ago.
The debt/assets ratio for MBINN has remained at the same level compared to a year ago.
MBINN Yearly Shares OutstandingMBINN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
MBINN Yearly Total Debt VS Total AssetsMBINN 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 MBINN is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.15, MBINN is in the better half of the industry, outperforming 75.00% 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
WACC21.07%
MBINN Yearly LT Debt VS Equity VS FCFMBINN 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
MBINN Yearly Current Assets VS Current LiabilitesMBINN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

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4

3. Growth

3.1 Past

MBINN shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -28.85%.
MBINN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 31.91% yearly.
The Revenue has been growing slightly by 4.49% in the past year.
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.
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

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
MBINN Yearly Revenue VS EstimatesMBINN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M
MBINN Yearly EPS VS EstimatesMBINN 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

The Price/Earnings ratio is 4.58, which indicates a rather cheap valuation of MBINN.
Based on the Price/Earnings ratio, MBINN is valued cheaper than 98.00% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.86. MBINN is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 4.17, the valuation of MBINN can be described as very cheap.
96.00% of the companies in the same industry are more expensive than MBINN, based on the Price/Forward Earnings ratio.
MBINN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.32.
Industry RankSector Rank
PE 4.58
Fwd PE 4.17
MBINN Price Earnings VS Forward Price EarningsMBINN 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
MBINN Per share dataMBINN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20 30 40

4.3 Compensation for Growth

MBINN'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)0.14
EPS Next 2Y-9.98%
EPS Next 3Y-2.52%

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7

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 8.07%, MBINN is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.03, MBINN pays a better dividend. On top of this MBINN pays more dividend than 92.00% of the companies listed in the same industry.
MBINN'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 MBINN grows each year by 13.71%, which is quite nice.
MBINN has been paying a dividend for over 5 years, so it has already some track record.
MBINN has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)13.71%
Div Incr Years0
Div Non Decr Years3
MBINN Yearly Dividends per shareMBINN Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0.5 1 1.5

5.3 Sustainability

27.14% of the earnings are spent on dividend by MBINN. This is a low number and sustainable payout ratio.
DP27.14%
EPS Next 2Y-9.98%
EPS Next 3Y-2.52%
MBINN Yearly Income VS Free CF VS DividendMBINN 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
MBINN Dividend Payout.MBINN Dividend Payout, showing the Payout Ratio.MBINN Dividend Payout.PayoutRetained Earnings

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MERCHANTS BANCORP - MBIN 6 PERP

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

21.34

-0.03 (-0.14%)

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 Cap979.29M
Analysts80
Price Target25.52 (19.59%)
Short Float %0.15%
Short Ratio4.41
Dividend
Industry RankSector Rank
Dividend Yield 8.07%
Yearly Dividend1.14
Dividend Growth(5Y)13.71%
DP27.14%
Div Incr Years0
Div Non Decr Years3
Ex-Date09-15 2025-09-15 (0.375)
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)1.19%
Revenue beat(12)6
Avg Revenue beat(12)1.26%
Revenue beat(16)9
Avg Revenue beat(16)3.57%
PT rev (1m)2.73%
PT rev (3m)-3.63%
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 4.58
Fwd PE 4.17
P/S 1.47
P/FCF N/A
P/OCF N/A
P/B 0.45
P/tB 0.49
EV/EBITDA N/A
EPS(TTM)4.66
EY21.84%
EPS(NY)5.11
Fwd EY23.96%
FCF(TTM)-10.82
FCFYN/A
OCF(TTM)-10.35
OCFYN/A
SpS14.57
BVpS47.59
TBVpS43.21
PEG (NY)N/A
PEG (5Y)0.14
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
WACC21.07%
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