Overview Dividends

(MBIN) Merchants Bancorp - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US58844R1086

Loans, Deposits, Mortgages

MBIN EPS (Earnings per Share)

EPS Growth (3Y CAGR): -5.09%
EPS Trend (3Y Correlation): -37.5%

MBIN Revenue

Revenue Growth (3Y CAGR): 33.58%
Revenue Trend (3Y Correlation): 80.5%

Description: MBIN Merchants Bancorp August 13, 2025

Merchants Bancorp (NASDAQ:MBIN) is a US-based commercial bank operating in the mortgage finance sector. As a key player in this industry, the companys performance is closely tied to the overall health of the housing market and interest rates.

The banks financials are characterized by a relatively low Price-to-Earnings (P/E) ratio of 6.77, suggesting potential undervaluation. Return on Equity (RoE) stands at 11.87%, indicating a decent level of profitability. To further assess the banks performance, key metrics such as Net Interest Margin (NIM), Efficiency Ratio, and Loan-to-Deposit Ratio should be examined.

As a mortgage finance company, Merchants Bancorp is sensitive to changes in interest rates, housing prices, and consumer creditworthiness. Key economic drivers influencing the companys prospects include the overall direction of monetary policy, housing market trends, and the state of the US economy. A thorough analysis of these factors is crucial to understanding the banks potential for growth and profitability.

To evaluate the investment potential of MBIN, a comprehensive analysis of its financial statements, management team, and competitive positioning is necessary. Key Performance Indicators (KPIs) such as revenue growth, asset quality, and capital adequacy should be closely monitored to assess the banks ability to navigate the complexities of the mortgage finance market.

MBIN Stock Overview

Market Cap in USD	1,431m
Sub-Industry	Commercial & Residential Mortgage Finance
IPO / Inception	2017-10-27

MBIN Stock Ratings

Growth Rating	0.98%
Fundamental	46.6%
Dividend Rating	68.4%
Return 12m vs S&P 500	-31.3%
Analyst Rating	3.67 of 5

MBIN Dividends

Dividend Yield 12m	1.24%
Yield on Cost 5y	2.67%
Annual Growth 5y	14.02%
Payout Consistency	100.0%
Payout Ratio	9.0%

MBIN Growth Ratios

Growth Correlation 3m	-48.6%
Growth Correlation 12m	-74%
Growth Correlation 5y	74.1%
CAGR 5y	10.02%
CAGR/Max DD 3y (Calmar Ratio)	0.23
CAGR/Mean DD 3y (Pain Ratio)	0.56
Sharpe Ratio 12m	-1.18
Alpha	-35.62
Beta	1.294
Volatility	34.76%
Current Volume	131.4k
Average Volume 20d	154k
Stop Loss	30.5 (-3.2%)
Signal	0.07

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income (246.6m TTM) > 0 and > 6% of Revenue (6% = 89.7m TTM)

FCFTA -0.03 (>2.0%) and ΔFCFTA -4.99pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -28.48% (prev -796.3%; Δ 767.8pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.02 (>3.0%) and CFO -475.7m <= Net Income 246.6m (YES >=105%, WARN >=100%)

Net Debt (-11.6m) to EBITDA (493.0m) ratio: -0.02 <= 3.0 (WARN <= 3.5)

Current Ratio 0.96 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (45.9m) change vs 12m ago 0.05% (target <= -2.0% for YES)

Gross Margin 48.90% (prev 42.73%; Δ 6.18pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 7.86% (prev 7.57%; Δ 0.29pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.70 (EBITDA TTM 493.0m / Interest Expense TTM 701.1m) >= 6 (WARN >= 3)

Altman Z'' 0.36

(A) -0.02 = (Total Current Assets 11.49b - Total Current Liabilities 11.92b) / Total Assets 19.35b

(B) 0.07 = Retained Earnings (Balance) 1.43b / Total Assets 19.35b

(D) 0.08 = Book Value of Equity 1.43b / Total Liabilities 17.13b

Total Rating: 0.36 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 46.60

1. Piotroski 3.0pt = -2.0

2. FCF Yield -10.22% = -5.0

3. FCF Margin -33.32% = -7.50

4. Debt/Equity 1.95 = 0.85

5. Debt/Ebitda -0.02 = 2.50

6. ROIC - WACC (= 2.13)% = 2.66

7. RoE 11.19% = 0.93

8. Rev. Trend 80.48% = 6.04

9. EPS Trend -37.51% = -1.88

What is the price of MBIN shares?

As of November 08, 2025, the stock is trading at USD 31.52 with a total of 131,354 shares traded.
Over the past week, the price has changed by +1.06%, over one month by -1.71%, over three months by +5.14% and over the past year by -21.66%.

Is Merchants Bancorp a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Merchants Bancorp (NASDAQ:MBIN) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 46.60 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of MBIN is around 30.32 USD . This means that MBIN is currently overvalued and has a potential downside of -3.81%.

Is MBIN a buy, sell or hold?

Merchants Bancorp has received a consensus analysts rating of 3.67. Therefor, it is recommend to hold MBIN.

Strong Buy: 0
Buy: 2
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the MBIN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	40	26.9%
Analysts Target Price	40	26.9%
ValueRay Target Price	32.8	4.1%

MBIN Fundamental Data Overview November 01, 2025

Market Cap USD = 1.43b (1.43b USD * 1.0 USD.USD)
P/E Trailing = 7.1701
P/S = 2.3965
P/B = 0.8981
Beta = 1.294
Revenue TTM = 1.49b USD
EBIT TTM = 491.5m USD
EBITDA TTM = 493.0m USD
Long Term Debt = 4.34b USD (from longTermDebt, last fiscal year)
Short Term Debt = 76.5m USD (from shortTermDebt, two quarters ago)
Debt = 4.34b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -11.6m USD (from netDebt column, last quarter)
Enterprise Value = 4.87b USD (1.43b + Debt 4.34b - CCE 896.6m)
Interest Coverage Ratio = 0.70 (Ebit TTM 491.5m / Interest Expense TTM 701.1m)
FCF Yield = -10.22% (FCF TTM -498.0m / Enterprise Value 4.87b)
FCF Margin = -33.32% (FCF TTM -498.0m / Revenue TTM 1.49b)
Net Margin = 16.50% (Net Income TTM 246.6m / Revenue TTM 1.49b)
Gross Margin = 48.90% ((Revenue TTM 1.49b - Cost of Revenue TTM 763.6m) / Revenue TTM)
Gross Margin QoQ = 61.68% (prev 35.35%)
Tobins Q-Ratio = 0.25 (Enterprise Value 4.87b / Total Assets 19.35b)
Interest Expense / Debt = 4.01% (Interest Expense 173.7m / Debt 4.34b)
Taxrate = 15.30% (9.88m / 64.6m)
NOPAT = 416.3m (EBIT 491.5m * (1 - 15.30%))
Current Ratio = 0.96 (Total Current Assets 11.49b / Total Current Liabilities 11.92b)
Debt / Equity = 1.95 (Debt 4.34b / totalStockholderEquity, last quarter 2.23b)
Debt / EBITDA = -0.02 (Net Debt -11.6m / EBITDA 493.0m)
Debt / FCF = 0.02 (negative FCF - burning cash) (Net Debt -11.6m / FCF TTM -498.0m)
Total Stockholder Equity = 2.20b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.27% (Net Income 246.6m / Total Assets 19.35b)
RoE = 11.19% (Net Income TTM 246.6m / Total Stockholder Equity 2.20b)
RoCE = 7.52% (EBIT 491.5m / Capital Employed (Equity 2.20b + L.T.Debt 4.34b))
RoIC = 7.35% (NOPAT 416.3m / Invested Capital 5.66b)
WACC = 5.23% (E(1.43b)/V(5.77b) * Re(10.78%) + D(4.34b)/V(5.77b) * Rd(4.01%) * (1-Tc(0.15)))
Discount Rate = 10.78% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 2.84%
Fair Price DCF = unknown (Cash Flow -498.0m)
EPS Correlation: -37.51 | EPS CAGR: -5.09% | SUE: 0.20 | # QB: 0
Revenue Correlation: 80.48 | Revenue CAGR: 33.58% | SUE: 1.12 | # QB: 1

Additional Sources for MBIN Stock

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