Touchstone
Last syncNov 1, 2026, 6:55 PM ET

MBIN

Merchants Bancorp Financials State Commercial Banks Russell 3000
$52.09Close $2.4BMarket cap $30.19 – $55.7252-week range Jan 27, 2027Next report · estimated

Highlights

Strengths

  • In a stage-2 uptrend all 8 trend conditions pass
  • Earnings growing EPS +106% year on year, faster than the quarter before (+90 pts)

Price

Filing Results Screen pick 52-week high and low Adjusted prices

Key figures

FY to Dec 31, 2025 · filed Aug 7, 2026
Off 12-month high 7%
1wk up 6.4% price change
1mo up 6.4% price change
12-month return up 68% market up 11% · its own up 54%
F-score — — Not assessed
Altman Z — Unknown
P/E 10.9× price / earnings
PEG — P/E / EPS growth
P/B 1.0× price / book
Earnings yield — EBIT / enterprise value
Cheaper than — of the market · not assessed
Revenue growth up 2% year on year
EPS growth up 106% latest quarter · +90 pts
Sales growth up 2% latest quarter · -18 pts
ROE up 10% return on equity
Free cash margin —
D/E 1.68 long-term debt / equity
Net debt / EBITDA —
Interest cover —EBIT / interest
Piotroski tests

Repair signals

  • Long-term debt down 12% ($4.4B → $3.8B)

Trade setup

ATR% 3.2% $1.67 a day · 2×ATR $48.74
RS 75 / 99 vs the universe
Trend 8 / 8 trend template
Relative volume 1.3× vs 50-day average
Up/down volume 1.25 50 sessions
Implied move — no scheduled report
Trend template · 8 of 8

Screen verdict

Did not qualify for any screen.

Warning signs

none flagged
  • No restatement or impairment
  • Equity positive
  • No material dilution
  • Margins and revenue not shrinking
Last reported Oct 28, 2026
Results reaction Oct 28, 2026+5% vs market2 sessions after results

Financials

6 fiscal years · from filings
Revenue What customers paid the company over its fiscal year, before any cost, as filed in its annual report. The change is against the year before. Methodology $681.4M +2% on FY2024
$0 $1B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $351.6M FY2021 · $435.3M FY2022 · $444.5M FY2023 · $562.7M FY2024 · $670.7M FY2025 · $681.4M
Net income Profit left after every cost, interest and tax for the year. A column below the line is a loss. Methodology $218.8M -32% on FY2024
$0 $500M FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · $180.5M FY2021 · $227.1M FY2022 · $219.7M FY2023 · $279.2M FY2024 · $320.4M FY2025 · $218.8M
Margins Each as a share of revenue. Gross: left after the direct cost of what was sold. Net: left after every cost. Free cash: free cash flow over revenue. A margin rising over years means the business keeps more of each dollar it sells. Methodology
  • Net 32%
0% 100% FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Net 51% FY2021 · Net 52% FY2022 · Net 49% FY2023 · Net 50% FY2024 · Net 48% FY2025 · Net 32%
Cash and long-term debt Cash on the balance sheet at the year's end beside debt due after a year. Net cash is cash less that debt; net debt is the shortfall. Debt some filers do not tag shows as a gap, not as zero. Methodology
  • Cash
  • Long-term debt
$0 $5B FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · Cash $179.7M · Long-term debt $1.3B FY2021 · Cash $1.0B · Long-term debt $1.0B FY2022 · Cash $226.2M · Long-term debt $930.4M FY2023 · Cash $584.4M · Long-term debt $964.1M FY2024 · Cash $476.6M · Long-term debt $4.4B FY2025 · Cash $212.2M · Long-term debt $3.8B
Shares outstanding Shares in issue at the year's end. A rising count means each share owns a smaller slice of the company (stock pay, share sales); a falling one, buybacks. The chart's scale is fitted to the count, so a small change looks large: read the percentage. Methodology 45.89m +6.4% since FY2020
45.89m 43.11m FY20 FY21 FY22 FY23 FY24 FY25 FY2020 · 43.12m FY2021 · 43.18m FY2022 · 43.11m FY2023 · 43.24m FY2024 · 45.77m FY2025 · 45.89m
  FY2020Dec 31, 2020 FY2021Dec 31, 2021 FY2022Dec 31, 2022 FY2023Dec 31, 2023 FY2024Dec 31, 2024 FY2025Dec 31, 2025
Revenue $351.6M $435.3M $444.5M $562.7M $670.7M $681.4M
Net income $180.5M $227.1M $219.7M $279.2M $320.4M $218.8M
Net margin 51% 52% 49% 50% 48% 32%
Earnings per share $4.18 $5.24 $5.07 $6.44 $7.12 $4.76
Cash $179.7M $1.0B $226.2M $584.4M $476.6M $212.2M
Long-term debt $1.3B $1.0B $930.4M $964.1M $4.4B $3.8B
Shareholders' equity $810.6M $1.2B $1.5B $1.7B $2.2B $2.3B
Shares outstanding 43.12m 43.18m 43.11m 43.24m 45.77m 45.89m

Filings

SEC EDGAR
FiledReportPeriod to Lag
Aug 7, 2026 Quarterly ↗ Jun 30, 2026 38d
May 7, 2026 Quarterly ↗ Mar 31, 2026 37d
Feb 27, 2026 Annual ↗ Dec 31, 2025 58d
Nov 7, 2025 Quarterly ↗ Sep 30, 2025 38d
Aug 11, 2025 Quarterly ↗ Jun 30, 2025 42d
May 9, 2025 Quarterly ↗ Mar 31, 2025 39d
Feb 28, 2025 Annual ↗ Dec 31, 2024 59d
Nov 8, 2024 Quarterly ↗ Sep 30, 2024 39d
Aug 9, 2024 Quarterly ↗ Jun 30, 2024 40d
May 10, 2024 Quarterly ↗ Mar 31, 2024 40d
Mar 12, 2024 Annual ↗ Dec 31, 2023 72d
Nov 9, 2023 Quarterly ↗ Sep 30, 2023 40d

Current reports

FiledDisclosed
Oct 28, 2026 Results ↗
Aug 20, 2026 Other events ↗
Jul 28, 2026 Results ↗
May 21, 2026 Shareholder vote · Other events ↗
Apr 28, 2026 Results ↗
Feb 19, 2026 Other events ↗
Jan 28, 2026 Results ↗
Nov 19, 2025 Other events ↗
Oct 28, 2025 Results ↗
Aug 21, 2025 Other events ↗
Jul 28, 2025 Results ↗
May 15, 2025 Shareholder vote · Other events ↗