MBINN Fundamental Analysis - MERCHANTS BANCORP - MBIN 6 PERP

Fundamental Rating

Taking everything into account, MBINN scores 3 out of 10 in our fundamental rating. MBINN was compared to 101 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.

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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.

1.2 Ratios

MBINN has a Return On Assets (1.09%) which is comparable to the rest of the industry.

MBINN's Return On Equity of 9.58% is in line compared to the rest of the industry. MBINN outperforms 54.46% of its industry peers.

		Industry Rank	Sector 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

1.3 Margins

MBINN has a better Profit Margin (31.31%) than 85.15% of its industry peers.

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 Rank	Sector 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

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

MBINN does not have a ROIC to compare to the WACC, probably because it is not profitable.

Compared to 1 year ago, MBINN has more shares outstanding

Compared to 5 years ago, MBINN has more shares outstanding

MBINN has about the same debt/assets ratio as last year.

2.2 Solvency

A Debt/Equity ratio of 0.15 indicates that MBINN is not too dependend on debt financing.

The Debt to Equity ratio of MBINN (0.15) is better than 76.24% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.15
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACCN/A

WACC21.03%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The earnings per share for MBINN 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

Looking at the last year, MBINN shows a small growth in Revenue. The Revenue has grown by 4.49% in the last year.

Measured over the past years, MBINN 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, MBINN will show a decrease in Earnings Per Share. The EPS will decrease by -2.52% on average per year.

MBINN is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.96% yearly.

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.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 4.62, which indicates a rather cheap valuation of MBINN.

MBINN's Price/Earnings ratio is rather cheap when compared to the industry. MBINN is cheaper than 97.03% of the companies in the same industry.

The average S&P500 Price/Earnings ratio is at 27.30. MBINN is valued rather cheaply when compared to this.

With a Price/Forward Earnings ratio of 4.21, the valuation of MBINN can be described as very cheap.

Based on the Price/Forward Earnings ratio, MBINN is valued cheaper than 96.04% of the companies in the same industry.

When comparing the Price/Forward Earnings ratio of MBINN to the average of the S&P500 Index (22.73), we can say MBINN is valued rather cheaply.

		Industry Rank	Sector Rank
PE	4.62
Fwd PE	4.21

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

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-9.96%

EPS Next 3Y-2.52%

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 1.25%, MBINN has a reasonable but not impressive dividend return.

Compared to an average industry Dividend Yield of 4.86, MBINN pays a bit more dividend than its industry peers.

Compared to an average S&P500 Dividend Yield of 2.41, MBINN's dividend is way lower than the S&P500 average.

		Industry Rank	Sector Rank
Dividend Yield	1.25%

5.2 History

On average, the dividend of MBINN grows each year by 13.84%, 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)13.84%

Div Incr Years0

Div Non Decr Years3

5.3 Sustainability

27.18% of the earnings are spent on dividend by MBINN. This is a low number and sustainable payout ratio.

DP27.18%

EPS Next 2Y-9.96%

EPS Next 3Y-2.52%

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MERCHANTS BANCORP - MBIN 6 PERP

NASDAQ:MBINN (9/12/2025, 8:00:01 PM)

21.55

+0.2 (+0.94%)

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 Cap988.93M

Analysts80

Price Target26.01 (20.7%)

Short Float %0.09%

Short Ratio2.23

Dividend

		Industry Rank	Sector Rank
Dividend Yield	1.25%

Yearly Dividend1.15

Dividend Growth(5Y)13.84%

DP27.18%

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)0.46%

PT rev (3m)0.66%

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 Rank	Sector Rank
PE	4.62
Fwd PE	4.21
P/S	1.48
P/FCF	N/A
P/OCF	N/A
P/B	0.45
P/tB	0.5
EV/EBITDA	N/A

EPS(TTM)4.66

EY21.62%

EPS(NY)5.12

Fwd EY23.74%

FCF(TTM)-10.84

FCFYN/A

OCF(TTM)-10.36

OCFYN/A

SpS14.57

BVpS47.61

TBVpS43.22

PEG (NY)N/A

PEG (5Y)0.14

Profitability

		Industry Rank	Sector 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 Rank	Sector 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

WACC21.03%

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

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

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

More info and screens