Stock AnalizMerchants Bancorp MBIN
Major Banks · IPO 2017 · data as of November 13, 2026
Merchants Bancorp (MBIN) is a financial company listed in the US with a market value of about $2.4B. In the twelve months to September 30, 2026 it had revenue of $768M and net income of $279M, a net margin of 36.4%.
Its overall Stock Analiz score is 1.4 out of 5 (weak). The strongest part is value (2/5); the weakest is financial health (0/5).
Key numbers: a P/E of 8.7, 5-year revenue growth of 14% a year. A discounted cash flow model with moderate assumptions puts its intrinsic value about 13% below the current price.
Score: 1.4 / 5
Checks passed
- P/E below 25
- P/E below the industry median
- 3-year revenue growth above 10% a year
- 5-year revenue growth above 8% a year
- Profitable 5 years in a row
- Pays a dividend
- Dividend 3 years in a row
Checks not passed
- P/FCF below 20
- Price below intrinsic value (DCF, moderate assumptions)
- PEG below 1.5
- Revenue growth above 10% last year
- Profit margin improving
- 3-year free cash flow growth above 10% a year
- Strong R&D investment or growth above 20%
- 5-year EPS growth above 10% a year
Valuation
Growth and quality
Financials, last 10 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $768M | $681M | $671M | $563M | $444M | $435M | $352M | $169M | $140M | $114M | $82M |
| Net income | $279M | $219M | $320M | $279M | $220M | $227M | $181M | $77M | $63M | $55M | $33M |
| Free cash flow | -$172M | -$362M | -$854M | -$364M | $969M | -$53M | -$879M | -$1.3B | $195M | -$177M | -$151M |
| EPS (diluted) | $6.07 | $3.78 | $6.30 | $5.64 | $4.47 | $4.76 | $3.85 | $1.58 | $2.07 | $2.28 | $1.47 |
| Net margin | 36.4% | 32.1% | 47.8% | 49.6% | 49.4% | 52.2% | 51.3% | 45.6% | 45.1% | 47.9% | 40.2% |
| ROIC | — | — | — | — | — | — | — | — | — | — | — |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
What analysts expect
The average 12-month price target from 2 analysts is $67.00, 27% above the current price; targets range from $66.00 to $68.00; the consensus rating is “Hold”; expected EPS is $5.95 for the fiscal year ending December 31, 2026.
Frequently asked questions
What is Merchants Bancorp’s P/E ratio?
About 8.7, based on the last twelve months of diluted earnings per share (forward P/E about 9.1).
Is Merchants Bancorp stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 13% below the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does Merchants Bancorp pay a dividend?
Yes. The dividend yield is about 0.82%, and it has paid dividends for 10 years in our data.
Is Merchants Bancorp a good stock to buy?
We do not give buy or sell advice. Merchants Bancorp scores 1.4 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.