20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.
Merchants Bancorp (MBIN) operates in the BANKS - REGIONAL industry and is headquartered in Carmel, United States with about 735 employees. Its market capitalization is roughly $2 billion. In the fiscal year ended 2025-12-31, MBIN reported $1.4B in revenue and $219M in net income.
Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking.
Interactive charts & full statements → Open the MBIN valuation workbench →
| Income statement | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $1.3B | $1.4B | $1.4B | $1.2B | $602M | $462M | $401M | $255M | $186M | $138M | $97M | $81M |
| Gross Profit | $596M | $564M | $643M | $519M | $422M | $423M | $331M | $161M | $130M | $108M | $77M | $65M |
| Gross Margin % | 45.5% | 41.3% | 44.4% | 43.7% | 70.2% | 91.6% | 82.4% | 63.2% | 70.2% | 78.1% | 79.5% | 81.1% |
| Operating Income (EBIT) | $277M | $264M | $423M | $348M | $291M | $305M | $243M | $102M | $84M | $77M | $55M | $47M |
| Operating Margin % | 21.1% | 19.3% | 29.2% | 29.3% | 48.4% | 66.1% | 60.7% | 40.1% | 45.3% | 55.9% | 56.4% | 58.5% |
| Net Income | $269M | $219M | $320M | $279M | $220M | $227M | $181M | $77M | $63M | $55M | $33M | $28M |
| Net Margin % | 20.5% | 16.0% | 22.1% | 23.5% | 36.5% | 49.2% | 45.0% | 30.4% | 33.9% | 39.6% | 34.1% | 35.2% |
| EBITDA | $326M | $267M | $426M | $351M | $294M | $307M | $245M | $103M | $84M | $77M | $55M | $47M |
| Earnings Per Share (EPS) | $5.84 | $4.76 | $7.12 | $6.44 | $5.07 | $5.24 | $4.18 | $1.79 | $1.46 | $1.62 | $1.04 | $0.90 |
| Shares Outstanding (M) | 46M | 46M | 45M | 43M | 43M | 43M | 43M | 43M | 43M | 34M | 32M | 32M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly income statement | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | $294M | $317M | $355M | $344M | $354M | $310M | $380M | $355M |
| Gross Profit | $137M | $160M | $158M | $141M | $125M | $137M | $190M | $142M |
| Gross Margin % | 46.4% | 50.4% | 44.4% | 40.9% | 35.4% | 44.3% | 50.1% | 39.9% |
| Operating Income (EBIT) | $54M | $84M | $74M | $65M | $49M | $76M | $128M | $81M |
| Operating Margin % | 18.4% | 26.6% | 20.8% | 18.8% | 13.8% | 24.7% | 33.7% | 22.9% |
| Net Income | $78M | $68M | $68M | $55M | $38M | $58M | $96M | $61M |
| Net Margin % | 26.6% | 21.4% | 19.1% | 15.9% | 10.7% | 18.8% | 25.2% | 17.3% |
| EBITDA | $100M | $86M | $75M | $65M | $50M | $77M | $129M | $82M |
| Earnings Per Share (EPS) | $1.70 | $1.47 | $1.48 | $1.19 | $0.83 | $1.27 | $2.08 | $1.33 |
| Shares Outstanding (M) | 46M | 46M | 46M | 46M | 46M | 46M | 46M | 46M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Cash flow | TTM → 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | ($752M) | ($341M) | ($835M) | ($356M) | $976M | ($49M) | ($875M) | ($1.3B) | $204M | ($176M) | ($150M) | $118M |
| Capital Expenditures (CapEx) | $25M | $21M | $18M | $8M | $9M | $4M | $4M | $14M | $16M | $2M | $3M | $1M |
| Free Cash Flow (FCF) | ($777M) | ($362M) | ($854M) | ($364M) | $967M | ($53M) | ($879M) | ($1.3B) | $189M | ($178M) | ($152M) | $117M |
| FCF Margin % | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends Paid | $60M | $59M | $51M | $49M | $38M | $31M | $24M | $17M | $10M | $8M | $6M | $4M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Quarterly cash flow | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations (CFO) | $396M | ($780M) | ($398M) | $30M | ($121M) | $148M | ($10M) | ($493M) |
| Capital Expenditures (CapEx) | $1M | $1M | $4M | $19M | $5M | $7M | $6M | $5M |
| Free Cash Flow (FCF) | $395M | ($782M) | ($401M) | $11M | ($126M) | $141M | ($16M) | ($497M) |
| FCF Margin % | — | — | — | — | — | — | — | — |
| Dividends Paid | $15M | $15M | $15M | $15M | $15M | $15M | $15M | $12M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
| Balance sheet | 2026-06-30 | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.2B | $19.4B | $18.8B | $17.0B | $12.6B | $11.3B | $9.6B | $6.4B | $3.9B | $3.4B | $2.7B | $2.3B |
| Cash & Cash Equivalents | $18M | $16M | $477M | $584M | $226M | $1.0B | $180M | $507M | $337M | $360M | $446M | $447M |
| Total Liabilities | $18.8B | $17.2B | $16.6B | $15.3B | $11.2B | $10.1B | $1.4B | $5.7B | $3.5B | $3.0B | $2.5B | $2.1B |
| Total Debt (Short + Long-Term) | $8.5B | $7.6B | $4.3B | $1.8B | $960M | $1.3B | $2.2B | $181M | $195M | $57M | $57M | $52M |
| Total Shareholders' Equity | $2.4B | $2.3B | $2.2B | $1.7B | $1.5B | $1.2B | $8.3B | $654M | $421M | $367M | $206M | $148M |
USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).
Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MBIN viewer.
About TickerBase · Data methodology & sources · Privacy · Terms