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Company Analysis

Merchants Bancorp - Depositary MBINM

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

Overview of Merchants Bancorp

MBINM NCM
Financial Services Banks - Regional
Merchants Bancorp (MBINM), in the Banks - Regional industry, last closed at $25.33, about 0.0% overvalued vs fair value, +0.1% 1Y return, ranked 461/1037 in sector.
Metrics Rev Growth 104.7% ROE 9.7% Gross Margin 41.3%
$25.33
-0.20%
As of April 28, 2026
Previous close • Vol 90d: 9.3%
52-Week Range
Enterprise Value
-
Overall Score
View breakdown
Overall
Growth
Fair
Profitability
Fair
Health
Fair
Efficiency
Weak
Valuation
Excellent
Growth
Fair
Profitability
Fair
Health
Fair
Efficiency
Weak
Valuation
Excellent
Completeness: 82%
Confidence: 43%
Updated: Mar 8
Top Beats
No strong beats yet

Quick Facts

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

Next Events

Dividend Apr 1

Fair Value Snapshot

Insufficient data

Engine Room Money Flow™

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 - Depositary 's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
32
/100
Developing
Scores based on quantitative metrics and qualitative factors

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Deposit Franchise

Developing
33
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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 88% Coverage
Trade-Off Triangle Visualization A ternary plot showing MBINM's balance between Growth (36.7%), Profitability (26.6%), and Safety (36.6%). Growth 37% Safety 37% Profitability 27%

Click axes to expand details. Marker shows current allocation.

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Growth

74th percentile vs peers
74
Key Signals
NII Growth YoY 16.6% 88p Equity Growth YoY 30.8% 93p Asset Growth YoY 3.4% 48p
Strengths
  • NII Growth YoY in top 20% of peers (16.6%, 88th percentile)
  • Equity Growth YoY in top 20% of peers (30.8%, 93th percentile)
  • ROTE in top 20% of peers (26.7%, 98th percentile)
  • ROA in top 20% of peers (1.8%, 92th percentile)
  • Financial Leverage in top 20% of peers (12.90, 84th percentile)
Risks

No significant risks identified for this axis.

Profitability

53th percentile vs peers
54
Key Signals
Strengths
Risks
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Safety

74th percentile vs peers
74
Key Signals
Strengths
Safety drilldowns are available to premium members.

Two Futures

Scenario-based fair value ranges for Merchants Bancorp - Depositary .

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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:

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  • Shell companies or holding companies
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Bear
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- upside
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Base
-
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- upside
-
Bull
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- upside
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Fair Value Range Current: $-
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