← Merchants Bancorp MBIN
Market Price
$54.88
Market Cap
$2.55B
P/E Ratio
14.52
Revenue (FY 2025)
↑20.0% YoY
$23.64M
3-Yr CAGR: 35.5%
Net Income
↓-31.7% YoY
$218.77M
Net Margin: 925.4%
Free Cash Flow
↑57.6% YoY
-$362.19M
FCF Yield: -14.22%
EPS (Diluted)
↓-40.0% YoY
$3.78
Basic: $3.78
Return on Equity
Efficiency
9.6%
ROA: 1.1%
📊 Multi-Year Historical Performance & Trends
Financial Performance History
Revenue, Net Income & Free Cash Flow
Margins Trend (%)
Gross, Operating & Net Margins
Balance Sheet Strength
Cash, Debt & Equity
Cash Flow Generation
Operating Cash Flow vs CapEx vs FCF
📈 Year-over-Year (YoY) Growth History (MBIN)
All monetary values in millions ($M)
⚠️ YoY Data Quality Alert
- FY 2021: Revenue YoY (+421.4%) is identical to Gross Profit YoY (+421.4%). Verify the underlying Revenue and Gross Profit values for FY 2021 and FY 2020.
- FY 2022: Revenue YoY (+45.9%) is identical to Gross Profit YoY (+45.9%). Verify the underlying Revenue and Gross Profit values for FY 2022 and FY 2021.
- FY 2023: Revenue YoY (+30.1%) is identical to Gross Profit YoY (+30.1%). Verify the underlying Revenue and Gross Profit values for FY 2023 and FY 2022.
- FY 2024: Revenue YoY (+59.4%) is identical to Gross Profit YoY (+59.4%). Verify the underlying Revenue and Gross Profit values for FY 2024 and FY 2023.
- FY 2025: Revenue YoY (+20.0%) is identical to Gross Profit YoY (+20.0%). Verify the underlying Revenue and Gross Profit values for FY 2025 and FY 2024.
| Fiscal Year | Revenue | Revenue YoY | Gross Profit | Net Income | Net Inc YoY | Diluted EPS | EPS YoY | Op. Cash Flow | Free Cash Flow | FCF YoY |
|---|---|---|---|---|---|---|---|---|---|---|
| FY 2016 | — | — | — | — | — | — | — | $-149.8M | $-151.0M | — |
| FY 2017 | $109.3M | — | $74.7M | $54.7M | — | $2.28 | — | $-175.9M | $-176.7M | -17.0% |
| FY 2018 | $155.3M | +42.1% | $104.4M | $62.9M | +15.0% | $2.07 | -9.2% | $203.6M | $194.4M | +210.0% |
| FY 2019 | $234.7M | +51.1% | $145.0M | $77.3M | +23.0% | $2.37 | +14.5% | $-1,257.0M | $-1,271.0M | -753.8% |
| FY 2020 | $1.2M | -99.5% | $1.2M | $180.5M | +133.5% | $5.77 | +143.5% | $-874.9M | $-878.5M | +30.9% |
| FY 2021 | $6.5M | +421.4% | $6.5M | $227.1M | +25.8% | $4.76 | -17.5% | $-49.2M | $-52.9M | +94.0% |
| FY 2022 | $9.5M | +45.9% | $9.5M | $219.7M | -3.3% | $4.47 | -6.1% | $975.8M | $969.0M | +1,933.1% |
| FY 2023 | $12.4M | +30.1% | $12.4M | $279.2M | +27.1% | $5.64 | +26.2% | $-356.4M | $-363.9M | -137.6% |
| FY 2024 | $19.7M | +59.4% | $19.7M | $320.4M | +14.7% | $6.30 | +11.7% | $-835.3M | $-853.7M | -134.6% |
| FY 2025 | $23.6M | +20.0% | $23.6M | $218.8M | -31.7% | $3.78 | -40.0% | $-341.2M | $-362.2M | +57.6% |
Valuation
Market Price
$54.88
Market Cap
$2.55B
Enterprise Value
N/A
P/E Ratio
14.52
P/B Ratio
1.11
FCF Yield
-14.22%
Dividend Yield
N/A
Shares Outstanding
Profitability & Margins
Gross Margin
3.34%
Operating Margin
1,115.91%
Net Margin
925.42%
Return on Equity (ROE)
9.59%
Return on Assets (ROA)
1.12%
Asset Turnover
0.00x
Revenue 3-Yr CAGR
35.54%
Financial Health & Liquidity
Current Ratio
N/A
Cash Ratio
N/A
Debt / Equity
N/A
Debt / Assets
N/A
Cash & Equivalents
$226.16M
Total Debt
N/A
Book Value / Share
$49.65
Cash Flow Efficiency
Operating Cash Flow
-$341.25M
Capital Expenditures (CapEx)
$20.94M
Free Cash Flow
-$362.19M
OCF / Revenue
-1,443.52%
FCF / Revenue
-1,532.10%
FCF 3-Yr CAGR
N/A
Per Share Metrics
EPS (Diluted)
$3.78
EPS (Basic)
$3.78
Dividends / Share
N/A
Book Value / Share
$49.65
EPS YoY Growth
-40.00%
Balance Sheet (FY 2025)
Total Assets
$19.45B
Total Liabilities
$33.10M
Stockholders' Equity
$2.28B
Current Assets
N/A
Current Liabilities
N/A