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Company Analysis

Merchants Bancorp MBIN

A comprehensive view of key metrics, scores, and financial health for Merchants Bancorp

Overview of Merchants Bancorp

MBIN NCM
Financial Services Banks - Regional Small Cap
Merchants Bancorp (MBIN), is a Small Cap company, in the Banks - Regional industry, last closed at $41.66, about 9.5% overvalued vs fair value, +8.8% 1Y return, ranked 614/1004 in sector.
$41.66
-1.42%
As of March 13, 2026
Previous close • Vol 90d: 40.1%
52-Week Range
Market Cap
$1.93B
Enterprise Value
$5.75B
Overall Score
Scores locked

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Top Beats
No strong beats yet

Quick Facts

Website https://investors.merchantsban...
HQ Carmel, IN
Fiscal year Dec 31

Next Events

No upcoming events available.

Fair Value Snapshot

Bear Base Bull
$21
$38
$71
Current: $41.66 -10% vs base

Engine Room Money Flow™

Small Cap

Financial Services - Where revenue goes and how value is created

Flow Steps
Interest Income
$1.3B
20.9%%
Interest Expense
$683.8M
Net Interest Income
$522.6M
16.6%%
Total Revenue
$1.4B
104.7%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Financial Services

Quality & Reliability Indicators

Return on Equity
18.1%
Excellent

Net Income / Equity - key bank profitability metric

Locked Metric
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$236.5M
83.4% of Net Income

Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
1
Active Leaks
1/1
Improving
0
High Impact
1
Critical
Moat Analysis Bank Specialized

Competitive Advantage Assessment

Evaluating Merchants Bancorp's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
39
/100
Developing
Scores based on quantitative metrics and qualitative factors

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Deposit Franchise

Moderate
53
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For informational purposes only. Not investment advice.

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Banks (Regional & Diversified) vs Industry Peers 91% Coverage
Trade-Off Triangle Visualization A ternary plot showing MBIN's balance between Growth (32.3%), Profitability (28.3%), and Safety (39.4%). Growth 32% Safety 39% Profitability 28%

Click axes to expand details. Marker shows current allocation.

3-Year Trend Analysis Locked
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Growth

76th percentile vs peers
76
Key Signals
Rev Growth YoY 1.05 83p Revenue CAGR 3Y 45.9% 95p Asset Growth YoY 3.4% 48p
Strengths
  • Rev Growth Yoy in top 20% of peers (1.05, 83th percentile)
  • Revenue Cagr 3Y in top 20% of peers (45.9%, 95th percentile)
  • Roe in top 20% of peers (16.2%, 93th percentile)
  • Roa in top 20% of peers (1.8%, 92th percentile)
Risks

No significant risks identified for this axis.

Profitability

66th percentile vs peers
67
Key Signals
Strengths
Risks
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Safety

92th percentile vs peers
93
Key Signals
Strengths
Safety drilldowns are available to premium members.

Two Futures

Scenario-based fair value ranges for Merchants Bancorp.

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$37.70
- - -
-9.5% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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