Merchants Bancorp (MBIN)
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No price history available.
Key financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total net revenue | $m | 343 | 428 | 440 | 559 | 667 | 681 | 667 | - |
| Operating profit | $m | 264 | 277 | ||||||
| Net profit | $m | 181 | 227 | 220 | 279 | 320 | 219 | 269 | 256 |
| EPS reported | $ | 3.78 | 4.98 | ||||||
| Operating cashflow per share | $ | -3.26 | -11.90 | ||||||
| Capex per share | $ | 0.46 | 0.49 | ||||||
| FCF per share | $ | -3.71 | -12.39 | ||||||
| Free cash flow | $m | -170 | -569 | ||||||
| Net debt | $m | 2,957 | 4,265 | ||||||
| Book value equity | $m | 2,281 | 2,394 | ||||||
| Book value per share | $ | 49.64 | 52.03 | ||||||
| Number of shares | m | 45.94 | 46.01 | ||||||
| DPS (TTM paid) | $ | 0.40 | 0.43 |
Financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 9.01 | 10.46 | ||||||
| P/B LTM | x | 0.69 | 0.65 | ||||||
| P/S LTM | x | 2.29 | 2.34 | ||||||
| P/FCF LTM | x | -9.17 | -2.74 | ||||||
| EV/EBITDA LTM | x | 20.16 | 16.54 | ||||||
| EV/Sales LTM | x | 3.95 | 5.18 | ||||||
| Earnings Yield LTM | % | +11.10% | +9.56% | ||||||
| FCF Yield | % | -10.90% | -36.44% | ||||||
| Quality | |||||||||
| ROE | % | +9.59% | +11.64% | ||||||
| ROIC | % | +1.82% | +1.09% | ||||||
| Operating margin | % | +19.32% | +21.15% | ||||||
| Gross margin | % | +41.29% | +45.41% | ||||||
| FCF/Sales | % | -12.47% | -43.48% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | -40.00% | -20.95% | ||||||
| Sales Growth YoY | % | +2.17% | -0.01% | ||||||
| Net Income Growth YoY | % | -31.72% | -16.17% | ||||||
| FCF Growth | % | - | - | ||||||
| Operating Profit Growth | % | -37.58% | -34.49% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | +3.80% | +0.77% | ||||||
| Dividend Growth | % | +11.11% | +19.44% | ||||||
| Payout Ratio | % | +34.21% | +26.36% | ||||||
| FCF/Debt | x | -0.04 | -0.13 | ||||||
| Net Debt/EBITDA | x | 14.32 | 13.09 | ||||||
| EBIT/Net interest | x | 0.39 | 0.43 | ||||||
| Net debt/market cap | % | +2.46% | +3.37% | ||||||
| Net debt/Equity | x | 1.30 | 1.78 | ||||||
| Gross debt/equity | x | 1.68 | 1.79 | ||||||
Price target estimates
Based on consensus from external analysts. Not Kvantra's opinion.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
ESG
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| ESG-score | |||
| Environmental score | |||
| Social score | |||
| Governance score | |||
| Risk rating |
Company overview
Merchants Bancorp operates as a diversified financial services holding company across the United States. Its operations are organized into three primary divisions: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking division focuses on originating and servicing government-sponsored mortgages for multi-family dwellings and healthcare institutions. It also tailors loan products specifically for independent living, assisted living, memory care, and skilled nursing developments, and serves as a syndicator for low-income housing tax credits and related debt funds. The Mortgage Warehousing division provides funding for residential loans eligible for agency backing, covering their initiation, acquisition, and sale within the secondary market, in addition to extending commercial credit to non-depository financial firms. Finally, the Banking division offers a broad spectrum of financial products and services to both individual consumers and businesses. These offerings encompass various deposit accounts and a diverse portfolio of loan options, including multi-family construction and bridge loans, commercial real estate, commercial and industrial, agricultural, residential mortgage, and consumer credit. Furthermore, this segment facilitates single-family mortgage lending, construction, bridge, and lot financing, first-lien home equity lines of credit, and Small Business Administration (SBA) lending programs. Founded in 1990, Merchants Bancorp maintains its corporate headquarters in Carmel, Indiana.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
Merchants Bancorp (MBIN)
No price history available.
Consensus from external analysts. Not Kvantra's opinion.
Based on consensus from external analysts. Not Kvantra's opinion.
Merchants Bancorp operates as a diversified financial services holding company across the United States. Its operations are organized into three primary divisions: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking division focuses on originating and servicing government-sponsored mortgages for multi-family dwellings and healthcare institutions. It also tailors loan products specifically for independent living, assisted living, memory care, and skilled nursing developments, and serves as a syndicator for low-income housing tax credits and related debt funds. The Mortgage Warehousing division provides funding for residential loans eligible for agency backing, covering their initiation, acquisition, and sale within the secondary market, in addition to extending commercial credit to non-depository financial firms. Finally, the Banking division offers a broad spectrum of financial products and services to both individual consumers and businesses. These offerings encompass various deposit accounts and a diverse portfolio of loan options, including multi-family construction and bridge loans, commercial real estate, commercial and industrial, agricultural, residential mortgage, and consumer credit. Furthermore, this segment facilitates single-family mortgage lending, construction, bridge, and lot financing, first-lien home equity lines of credit, and Small Business Administration (SBA) lending programs. Founded in 1990, Merchants Bancorp maintains its corporate headquarters in Carmel, Indiana.
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