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Merchants Bancorp (MBIN) Financials

Merchants Bancorp logo
$32.02 -0.80 (-2.44%)
Closing price 04:00 PM Eastern
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$32.02 -0.01 (-0.02%)
As of 04:04 PM Eastern
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Annual Income Statements for Merchants Bancorp

Annual Income Statements for Merchants Bancorp

This table shows Merchants Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 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
Net Income / (Loss) Attributable to Common Shareholders		 284 245 194 206 166 68 60 51 31 28
Consolidated Net Income / (Loss)		 320 279 220 227 181 77 63 55 33 28
Net Income / (Loss) Continuing Operations		 320 279 220 227 181 77 63 55 33 28
Total Pre-Tax Income 		423 348 291 305 243 102 84 77 55 47
Total Revenue		 671 563 444 435 352 169 140 114 82 69
Net Interest Income / (Expense)		 523 448 319 278 224 122 90 67 54 42
Total Interest Income		 1,303 1,078 481 312 283 212 141 94 73 56
Loans and Leases Interest Income		 1,128 972 460 308 277 194 125 80 63 49
Investment Securities Interest Income		 157 94 16 3.35 3.27 6.48 6.45 4.53 3.25 2.36
Other Interest Income		 18 12 4.04 0.82 2.93 11 9.26 4.43 2.29 1.09
Total Interest Expense		 780 630 162 34 59 90 51 28 19 14
Deposits Interest Expense		 660 577 150 28 52 85 42 20 12 7.35
Short-Term Borrowings Interest Expense		 85 24 8.30 - - - - - - -
Long-Term Debt Interest Expense		 35 29 4.34 5.64 6.41 5.04 8.38 7.79 7.31 6.94
Total Non-Interest Income		 148 115 126 157 127 47 50 48 29 27
Other Service Charges		 86 66 62 46 30 11 10 9.89 3.73 2.21
Net Realized & Unrealized Capital Gains on Investments		 62 48 64 111 97 36 39 38 25 25
Provision for Credit Losses		 24 40 17 5.01 12 3.94 4.63 2.47 0.96 0.96
Total Non-Interest Expense		 224 175 136 125 96 63 51 35 27 21
Salaries and Employee Benefits		 131 108 89 86 59 38 32 21 14 12
Net Occupancy & Equipment Expense		 17 16 13 12 8.79 7.23 4.33 2.77 2.33 1.95
Property & Liability Insurance Claims		 26 14 3.46 2.69 5.80 2.75 1.02 0.93 1.15 1.08
Other Operating Expenses		 50 37 30 25 23 15 13 9.47 8.93 5.93
Income Tax Expense		 102 69 71 78 63 25 21 22 22 19
Preferred Stock Dividends Declared		 37 35 26 21 14 9.22 3.33 3.33 2.00 0.00
Basic Earnings per Share		 $6.32 $5.66 $4.49 $4.78 $3.85 $1.58 $2.08 $2.28 $1.47 $1.35
Weighted Average Basic Shares Outstanding		 44.86M 43.22M 43.16M 43.17M 43.11M 43.06M 28.69M 22.55M 21.11M 21.08M
Diluted Earnings per Share		 $6.30 $5.64 $4.47 $4.76 $3.85 $1.58 $2.07 $2.28 $1.47 $1.35
Weighted Average Diluted Shares Outstanding		 45.00M 43.35M 43.32M 43.33M 43.17M 43.12M 28.72M 22.57M 21.11M 21.08M
Weighted Average Basic & Diluted Shares Outstanding		 45.85M 43.33M 43.23M 43.27M 28.78M 28.74M 28.60M 22.50M 21.20M -
Cash Dividends to Common per Share		 $0.36 $0.32 $0.28 $0.24 $0.32 $0.28 $0.24 $0.20 $0.20 $0.20

Quarterly Income Statements for Merchants Bancorp

This table shows Merchants Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 85 54 67 78 69 73 57 46 48 53
Consolidated Net Income / (Loss)		 96 61 76 87 77 82 65 55 57 58
Net Income / (Loss) Continuing Operations		 96 61 76 87 77 82 65 55 57 58
Total Pre-Tax Income 		128 81 99 114 99 107 69 73 75 77
Total Revenue		 194 150 159 168 159 154 135 115 118 115
Net Interest Income / (Expense)		 135 133 128 127 124 117 106 101 95 85
Total Interest Income		 321 339 328 314 312 297 258 211 181 134
Loans and Leases Interest Income		 270 294 289 275 279 269 232 192 166 132
Investment Securities Interest Income		 47 40 35 35 29 24 23 18 13 1.46
Other Interest Income		 3.72 4.54 4.95 4.70 3.66 3.35 2.86 1.75 1.80 1.02
Total Interest Expense		 187 206 200 187 187 179 152 111 86 49
Deposits Interest Expense		 144 166 180 171 172 163 138 104 81 45
Long-Term Debt Interest Expense		 -42 40 21 16 -8.35 16 15 6.16 -3.33 3.73
Total Non-Interest Income		 59 17 31 41 34 36 30 14 23 29
Other Service Charges		 34 0.01 20 32 15 25 19 7.53 12 16
Net Realized & Unrealized Capital Gains on Investments		 25 17 11 9.25 19 11 11 6.73 11 13
Provision for Credit Losses		 2.69 6.90 9.97 4.73 6.75 4.01 23 6.87 6.41 2.23
Total Non-Interest Expense		 63 61 50 49 53 43 44 35 37 35
Salaries and Employee Benefits		 38 35 28 30 33 27 26 22 22 23
Net Occupancy & Equipment Expense		 4.32 4.30 4.10 4.09 4.09 3.81 4.03 3.81 3.79 3.29
Property & Liability Insurance Claims		 6.47 8.98 5.58 5.13 4.03 3.57 3.81 2.18 1.28 0.76
Other Operating Expenses		 15 13 12 10 11 8.51 11 6.64 9.75 7.88
Income Tax Expense		 32 20 23 27 22 25 3.27 18 18 19
Preferred Stock Dividends Declared		 11 7.76 9.58 8.67 8.67 8.67 8.67 8.67 8.80 5.73
Basic Earnings per Share		 $1.84 $1.17 $1.50 $1.81 $1.59 $1.68 $1.31 $1.07 $1.12 $1.22
Weighted Average Basic Shares Outstanding		 44.86M 45.76M 44.57M 43.31M 43.22M 43.24M 43.24M 43.18M 43.16M 43.11M
Diluted Earnings per Share		 $1.84 $1.17 $1.49 $1.80 $1.59 $1.68 $1.31 $1.07 $1.12 $1.22
Weighted Average Diluted Shares Outstanding		 45.00M 45.91M 44.70M 43.47M 43.35M 43.35M 43.31M 43.29M 43.32M 43.26M
Weighted Average Basic & Diluted Shares Outstanding		 45.85M 45.76M 45.76M 43.35M 43.33M 43.24M 43.24M 43.23M 43.23M 43.11M

Annual Cash Flow Statements for Merchants Bancorp

This table details how cash moves in and out of Merchants Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 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
Net Change in Cash & Equivalents		 -108 358 -806 853 -327 170 -23 -86 -1.10 217
Net Cash From Operating Activities		 -835 -356 976 -49 -875 -1,257 204 -176 -150 118
Net Cash From Continuing Operating Activities		 -835 -356 976 -49 -875 -1,257 204 -176 -150 118
Net Income / (Loss) Continuing Operations		 320 279 220 227 181 77 63 55 33 28
Consolidated Net Income / (Loss)		 320 279 220 227 181 77 63 55 33 28
Provision For Loan Losses		 24 40 17 5.01 12 3.94 4.63 2.47 0.96 0.96
Depreciation Expense		 3.01 2.85 2.49 2.19 1.90 0.85 0.46 0.30 0.28 0.30
Non-Cash Adjustments to Reconcile Net Income		 -839 -683 336 -55 -989 -1,270 158 -245 -150 110
Changes in Operating Assets and Liabilities, net		 -344 4.00 400 -229 -81 -80 -24 8.98 -42 -26
Net Cash From Investing Activities		 -874 -3,260 -2,863 -474 -2,532 -958 -509 -523 -265 -349
Net Cash From Continuing Investing Activities		 -874 -3,260 -2,863 -474 -2,532 -958 -509 -523 -265 -349
Purchase of Property, Leasehold Improvements and Equipment		 -18 -7.53 -6.76 -3.65 -3.62 -14 -9.20 -0.79 -1.20 -0.32
Purchase of Investment Securities		 -1,900 -4,018 -3,807 -955 -3,157 -1,637 -696 -639 -497 -680
Sale and/or Maturity of Investments		 1,045 765 951 484 628 693 196 117 233 331
Net Cash From Financing Activities		 1,602 3,975 1,081 1,376 3,080 2,385 282 613 414 448
Net Cash From Continuing Financing Activities		 1,602 3,975 1,081 1,376 3,080 2,385 282 613 414 448
Net Change in Deposits		 -1,912 3,990 1,089 1,572 1,930 2,247 155 515 389 429
Issuance of Debt		 166,324 95,789 65,782 31,473 61,091 8,924 1,108 754 220 299
Issuance of Preferred Equity		 223 0.00 137 191 0.00 193 0.00 - 32 10
Issuance of Common Equity		 98 0.00 0.00 - - - - 106 - 3.94
Repayment of Debt		 -162,903 -95,756 -65,885 -31,788 -59,924 -8,938 -971 -755 -220 -289
Repurchase of Preferred Equity		 -177 0.00 0.00 -42 0.00 -22 0.00 - - -
Repurchase of Common Equity		 0.00 0.00 -3.94 0.00 0.00 - - - - -
Payment of Dividends		 -51 -49 -38 -31 -24 -17 -10 -7.95 -6.22 -4.22
Cash Interest Paid		 789 610 140 34 69 82 49 27 18 14
Cash Income Taxes Paid		 80 67 67 79 57 19 17 27 22 19

Quarterly Cash Flow Statements for Merchants Bancorp

This table details how cash moves in and out of Merchants Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -125 61 32 -76 177 30 7.72 143 -98 66
Net Cash From Operating Activities		 -9.98 -493 51 -384 736 -550 -241 -302 -858 959
Net Cash From Continuing Operating Activities		 -9.98 -493 51 -384 736 -550 -241 -302 -858 959
Net Income / (Loss) Continuing Operations		 96 61 76 87 77 82 65 55 57 58
Consolidated Net Income / (Loss)		 96 61 76 87 77 82 65 55 57 58
Provision For Loan Losses		 2.69 6.90 9.97 4.73 6.75 4.01 23 6.87 6.41 2.23
Depreciation Expense		 0.76 0.78 0.75 0.73 0.73 0.73 0.70 0.69 0.65 0.63
Non-Cash Adjustments to Reconcile Net Income		 -91 -336 -11 -400 299 -444 -218 -319 -864 686
Changes in Operating Assets and Liabilities, net		 -18 -225 -25 -76 352 -192 -112 -45 -58 211
Net Cash From Investing Activities		 -44 181 -317 -695 -911 7.46 -1,236 -1,120 187 -1,698
Net Cash From Continuing Investing Activities		 -44 181 -317 -695 -911 7.46 -1,236 -1,120 187 -1,698
Purchase of Property, Leasehold Improvements and Equipment		 -6.28 -4.53 -5.28 -2.31 -4.07 -0.52 -1.90 -1.04 -0.58 -1.07
Purchase of Investment Securities		 -369 -235 -503 -794 -1,139 -215 -1,527 -1,136 -736 -1,709
Sale and/or Maturity of Investments		 331 420 191 101 232 223 292 17 924 12
Net Cash From Financing Activities		 -72 372 298 1,003 352 572 1,486 1,565 573 805
Net Cash From Continuing Financing Activities		 -72 372 298 1,003 352 572 1,486 1,565 573 805
Net Change in Deposits		 -972 -2,025 941 144 1,054 -53 1,715 1,274 -248 2,020
Issuance of Debt		 57,340 61,373 20,859 26,752 26,443 27,016 19,841 22,489 20,828 23,356
Issuance of Preferred Equity		 223 - - 0.00 - - - 0.00 0.09 -
Repayment of Debt		 -56,523 -58,964 -21,536 -25,880 -27,133 -26,379 -20,058 -22,185 -19,995 -24,700
Repurchase of Preferred Equity		 -125 0.00 - - - - - - - -
Payment of Dividends		 -15 -12 -12 -13 -12 -12 -12 -12 -12 -8.75
Cash Interest Paid		 207 211 193 179 194 177 137 101 76 39
Cash Income Taxes Paid		 21 13 45 0.78 17 20 29 0.97 19 19

Annual Balance Sheets for Merchants Bancorp

This table presents Merchants Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016
Period end date 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
Total Assets		 18,806 16,953 12,615 11,279 9,645 6,372 3,884 3,393 2,719
Cash and Due from Banks		 11 16 22 14 10 14 26 360 446
Interest Bearing Deposits at Other Banks		 466 569 204 1,019 170 493 311 - -
Trading Account Securities		 6,846 5,577 4,511 4,189 3,685 2,661 1,334 - -
Loans and Leases, Net of Allowance		 0.00 10,128 7,427 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 59 42 35 31 30 29 15 - -
Goodwill		 8.01 16 16 16 16 16 17 3.90 0.52
Other Assets		 11,416 557 399 257 225 143 132 66 54
Total Liabilities & Shareholders' Equity		 18,806 16,953 12,615 11,279 9,645 6,372 3,884 0.00 0.00
Total Liabilities		 16,562 15,251 11,155 10,123 8,835 5,718 3,463 0.00 0.00
Non-Interest Bearing Deposits		 239 520 327 641 854 272 183 - -
Interest Bearing Deposits		 11,681 13,541 9,744 8,341 6,554 5,206 3,048 - -
Long-Term Debt		 4,386 964 930 1,034 1,348 181 195 - -
Other Long-Term Liabilities		 256 226 154 107 78 59 36 - -
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - -
Total Equity & Noncontrolling Interests		 2,243 1,701 1,460 1,155 811 654 421 0.00 0.00
Total Preferred & Common Equity		 2,243 1,701 1,460 1,155 811 654 421 367 206
Preferred Stock		 672 500 500 362 213 213 42 - -
Total Common Equity		 1,571 1,201 960 793 598 441 380 0.00 0.00
Common Stock		 240 140 138 138 136 136 135 - -
Retained Earnings		 1,331 1,064 833 657 462 305 245 - -
Accumulated Other Comprehensive Income / (Loss)		 -0.13 -2.49 -11 -1.45 0.37 0.46 -0.31 - -

Quarterly Balance Sheets for Merchants Bancorp

This table presents Merchants Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 18,653 18,212 17,823 16,495 15,875 14,241 11,979
Cash and Due from Banks		 12 10 18 11 15 19 14
Interest Bearing Deposits at Other Banks		 590 531 491 397 362 351 310
Trading Account Securities		 6,951 6,004 5,886 5,594 5,070 4,840 4,313
Loans and Leases, Net of Allowance		 10,262 10,933 10,691 9,911 9,854 0.00 0.00
Premises and Equipment, Net		 53 47 42 37 37 36 35
Goodwill		 8.01 8.01 8.01 16 16 16 16
Other Assets		 593 680 687 530 519 8,979 7,289
Total Liabilities & Shareholders' Equity		 18,653 18,212 17,823 16,495 15,875 14,241 11,979
Total Liabilities		 16,714 16,324 16,046 14,863 14,315 12,735 10,566
Non-Interest Bearing Deposits		 311 383 320 288 349 314 316
Interest Bearing Deposits		 12,581 14,534 13,656 12,719 12,710 11,031 10,004
Long-Term Debt		 3,569 1,159 1,836 1,654 1,017 1,234 97
Other Long-Term Liabilities		 253 248 234 201 238 156 149
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,939 1,888 1,776 1,633 1,560 1,506 1,413
Total Preferred & Common Equity		 1,939 1,888 1,776 1,633 1,560 1,506 1,413
Preferred Stock		 449 449 500 500 500 500 500
Total Common Equity		 1,490 1,439 1,277 1,133 1,061 1,006 913
Common Stock		 239 238 140 140 139 138 137
Retained Earnings		 1,250 1,201 1,138 998 929 876 788
Accumulated Other Comprehensive Income / (Loss)		 0.10 -0.51 -1.17 -4.75 -7.04 -7.73 -12

Annual Metrics And Ratios for Merchants Bancorp

This table displays calculated financial ratios and metrics derived from Merchants Bancorp's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 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
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 19.19% 26.60% 2.10% 23.81% 107.58% 21.38% 22.12% 38.56% 19.42% 0.00%
EBITDA Growth		 21.35% 19.46% -4.39% 25.23% 115.56% 31.02% 8.53% 27.61% 18.66% 0.00%
EBIT Growth		 21.48% 19.50% -4.52% 25.30% 138.27% 21.55% 8.90% 40.82% 16.14% 0.00%
NOPAT Growth		 14.74% 27.09% -3.25% 25.80% 133.46% 22.99% 14.98% 65.07% 16.71% 0.00%
Net Income Growth		 14.74% 27.09% -3.25% 25.80% 133.46% 22.99% 14.98% 65.07% 16.71% 0.00%
EPS Growth		 11.70% 26.17% -6.09% 25.80% 133.46% 22.99% -9.21% 55.10% 8.89% 0.00%
Operating Cash Flow Growth		 -134.36% -136.53% 2,082.64% 94.37% 30.40% -715.17% 216.17% -17.44% -226.57% 0.00%
Free Cash Flow Firm Growth		 -87,818.70% -78.08% -90.36% 117.20% -709.91% -104.97% 558.00% 76.91% 0.00% 0.00%
Invested Capital Growth		 148.74% 11.51% 9.17% 1.41% 158.50% 35.43% -81.83% 24.82% 0.00% 0.00%
Revenue Q/Q Growth		 5.50% 7.73% 1.22% 5.04% 20.46% -3.70% 3.76% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 7.16% 7.56% 0.74% 2.16% 20.41% -7.67% 2.40% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 7.21% 7.60% 0.72% 2.14% 29.07% -8.55% -0.64% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 6.02% 7.85% 0.90% 2.56% 12.09% 23.35% -7.24% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 6.02% 7.85% 0.90% 2.56% 12.09% 23.35% -7.24% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 7.69% 8.88% -1.11% 2.56% 12.09% 23.35% -11.91% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 -838.84% 81.73% -55.09% 9.69% -9.17% 19.64% 298.81% -157.61% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 -89.90% 100.27% -96.98% -70.99% 19.79% 43.94% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 20.36% -18.91% 58.30% 14.09% -9.11% 5.84% 29.93% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 63.46% 62.33% 66.06% 70.55% 69.75% 67.17% 62.22% 70.02% 76.02% 76.51%
EBIT Margin		 63.01% 61.82% 65.50% 70.05% 69.21% 60.30% 60.21% 67.52% 66.44% 68.32%
Profit (Net Income) Margin		 47.77% 49.62% 49.43% 52.17% 51.34% 45.65% 45.05% 47.85% 40.17% 41.10%
Tax Burden Percent		 75.81% 80.26% 75.47% 74.48% 74.18% 75.71% 74.83% 70.87% 60.46% 60.16%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 24.19% 19.74% 24.53% 25.52% 25.82% 24.29% 25.17% 29.13% 39.54% 39.84%
Return on Invested Capital (ROIC)		 6.89% 11.05% 9.60% 10.45% 12.06% 10.65% 3.14% 1.79% 2.44% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.89% 11.05% 9.60% 10.45% 12.06% 10.65% 3.14% 1.79% 2.44% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 9.35% 6.62% 7.21% 12.66% 12.60% 3.73% 26.72% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 16.25% 17.67% 16.80% 23.10% 24.66% 14.39% 29.85% 0.00% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 -78.41% 0.16% 0.83% 9.04% -76.36% -19.44% 141.62% -20.29% -197.56% 0.00%
Operating Return on Assets (OROA)		 2.36% 2.35% 2.44% 2.91% 3.04% 1.99% 2.31% 2.53% 2.02% 0.00%
Return on Assets (ROA)		 1.79% 1.89% 1.84% 2.17% 2.25% 1.51% 1.73% 1.79% 1.22% 0.00%
Return on Common Equity (ROCE)		 11.42% 12.08% 11.27% 16.35% 17.50% 10.98% 26.91% 0.00% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 14.28% 16.42% 15.05% 19.66% 22.27% 11.83% 14.93% 14.88% 16.06% 0.00%
Net Operating Profit after Tax (NOPAT)		 320 279 220 227 181 77 63 55 33 28
NOPAT Margin		 47.77% 49.62% 49.43% 52.17% 51.34% 45.65% 45.05% 47.85% 40.17% 41.10%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 22.00% 22.02% 23.07% 22.35% 19.34% 26.76% 26.21% 21.22% 20.18% 20.14%
Operating Expenses to Revenue		 33.37% 31.03% 30.61% 28.80% 27.42% 37.38% 36.47% 30.32% 32.40% 30.29%
Earnings before Interest and Taxes (EBIT)		 423 348 291 305 243 102 84 77 55 47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 426 351 294 307 245 114 87 80 63 53
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.06 1.52 1.07 1.67 1.28 1.22 1.41 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 1.07 1.54 1.09 1.71 1.32 1.27 1.49 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.49 3.24 2.31 3.05 2.18 3.17 3.84 4.57 0.00 0.00
Price to Earnings (P/E)		 5.88 7.46 5.31 6.43 4.62 7.89 8.99 10.17 0.00 0.00
Dividend Yield		 0.99% 0.76% 1.17% 0.78% 1.20% 1.50% 1.29% 0.27% 0.00% 0.00%
Earnings Yield		 17.00% 13.40% 18.85% 15.54% 21.66% 12.68% 11.12% 9.83% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.94 1.01 0.93 0.77 0.99 0.51 0.71 0.05 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 9.32 4.81 5.02 3.88 6.11 2.51 3.12 1.43 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 14.68 7.71 7.60 5.50 8.76 3.73 5.02 2.04 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 14.79 7.77 7.67 5.54 8.83 4.16 5.19 2.11 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 19.51 9.68 10.16 7.44 11.90 5.49 6.93 2.98 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 2.29 0.00 0.00 0.00 2.13 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 651.01 117.75 8.60 0.00 0.00 0.15 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.96 0.57 0.64 0.89 1.66 0.28 0.46 0.00 0.00 0.00
Long-Term Debt to Equity		 1.96 0.57 0.64 0.89 1.66 0.28 0.46 0.00 0.00 0.00
Financial Leverage		 1.36 0.60 0.75 1.21 1.04 0.35 8.52 0.00 0.00 0.00
Leverage Ratio		 9.07 9.35 9.14 10.64 10.94 9.54 17.28 0.00 0.00 0.00
Compound Leverage Factor		 9.07 9.35 9.14 10.64 10.94 9.54 17.28 0.00 0.00 0.00
Debt to Total Capital		 66.16% 36.17% 38.93% 47.23% 62.45% 21.72% 31.69% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 66.16% 36.17% 38.93% 47.23% 62.45% 21.72% 31.69% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 10.14% 18.75% 20.90% 16.54% 9.85% 25.46% 6.74% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 23.70% 45.08% 40.17% 36.23% 27.70% 52.81% 61.56% 0.00% 0.00% 0.00%
Debt to EBITDA		 10.30 2.75 3.17 3.37 5.50 1.59 2.25 0.00 0.00 0.00
Net Debt to EBITDA		 9.18 1.08 2.40 0.00 4.76 -2.86 -1.62 0.00 0.00 0.00
Long-Term Debt to EBITDA		 10.30 2.75 3.17 3.37 5.50 1.59 2.25 0.00 0.00 0.00
Debt to NOPAT		 13.69 3.45 4.23 4.55 7.47 2.35 3.11 0.00 0.00 0.00
Net Debt to NOPAT		 12.20 1.36 3.21 0.01 6.47 -4.21 -2.24 0.00 0.00 0.00
Long-Term Debt to NOPAT		 13.69 3.45 4.23 4.55 7.47 2.35 3.11 0.00 0.00 0.00
Noncontrolling Interest Sharing Ratio		 29.71% 31.61% 32.95% 29.24% 29.04% 23.65% 9.87% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,644 4.15 19 197 -1,143 -141 2,839 -620 -2,685 0.00
Operating Cash Flow to CapEx		 -4,541.78% -4,734.35% 14,432.39% -1,350.23% -24,148.16% -8,989.51% 2,222.24% -22,320.56% -12,439.45% 36,747.83%
Free Cash Flow to Firm to Interest Expense		 -4.67 0.01 0.12 5.80 -19.49 -1.57 56.12 -22.31 -141.57 0.00
Operating Cash Flow to Interest Expense		 -1.07 -0.57 6.01 -1.45 -14.92 -14.01 4.04 -6.33 -7.90 8.28
Operating Cash Flow Less CapEx to Interest Expense		 -1.09 -0.58 5.97 -1.56 -14.98 -14.17 3.86 -6.36 -7.96 8.26
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.03 0.04 0.04 0.03 0.00
Fixed Asset Turnover		 13.29 14.47 13.34 14.28 11.91 7.63 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 6,629 2,665 2,390 2,189 2,159 835 617 3,393 2,719 0.00
Invested Capital Turnover		 0.14 0.22 0.19 0.20 0.23 0.23 0.07 0.04 0.06 0.00
Increase / (Decrease) in Invested Capital		 3,964 275 201 30 1,324 218 -2,776 675 2,719 0.00
Enterprise Value (EV)		 6,251 2,704 2,232 1,690 2,148 425 436 163 0.00 0.00
Market Capitalization		 1,669 1,825 1,028 1,327 767 537 535 522 0.00 0.00
Book Value per Share		 $34.33 $27.79 $22.27 $27.56 $20.80 $15.37 $13.23 $0.00 $0.00 $0.00
Tangible Book Value per Share		 $34.16 $27.42 $21.88 $26.95 $20.17 $14.68 $12.50 ($0.14) ($0.02) $0.00
Total Capital		 6,629 2,665 2,390 2,189 2,159 835 617 0.00 0.00 0.00
Total Debt		 4,386 964 930 1,034 1,348 181 195 0.00 0.00 0.00
Total Long-Term Debt		 4,386 964 930 1,034 1,348 181 195 0.00 0.00 0.00
Net Debt		 3,910 380 704 1.34 1,169 -325 -141 -360 -446 0.00
Capital Expenditures (CapEx)		 18 7.53 6.76 3.65 3.62 14 9.20 0.79 1.20 0.32
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 4,386 964 930 1,034 1,348 181 195 3,393 2,719 0.00
Total Depreciation and Amortization (D&A)		 3.01 2.85 2.49 2.19 1.90 12 2.81 2.85 7.91 5.66
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $6.32 $5.66 $0.00 $4.78 $3.85 $1.58 $1.39 $1.52 $0.98 $0.90
Adjusted Weighted Average Basic Shares Outstanding		 44.86M 43.22M 0.00 43.17M 43.11M 43.06M 43.04M 33.83M 31.67M 31.61M
Adjusted Diluted Earnings per Share		 $6.30 $5.64 $0.00 $4.76 $3.85 $1.58 $1.38 $1.52 $0.98 $0.90
Adjusted Weighted Average Diluted Shares Outstanding		 45.00M 43.35M 0.00 43.33M 43.17M 43.12M 43.09M 33.85M 31.67M 31.61M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 45.85M 43.33M 0.00 43.27M 43.17M 43.10M 43.06M 43.04M 31.80M 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 320 279 220 227 181 77 63 55 33 28
Normalized NOPAT Margin		 47.77% 49.62% 49.43% 52.17% 51.34% 45.65% 45.05% 47.85% 40.17% 41.10%
Pre Tax Income Margin		 63.01% 61.82% 65.50% 70.05% 69.21% 60.30% 60.21% 67.52% 66.44% 68.32%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.54 0.55 1.79 9.00 4.15 1.14 1.66 2.78 2.89 3.30
NOPAT to Interest Expense		 0.41 0.44 1.35 6.70 3.08 0.86 1.24 1.97 1.75 1.99
EBIT Less CapEx to Interest Expense		 0.52 0.54 1.75 8.89 4.09 0.98 1.48 2.75 2.83 3.28
NOPAT Less CapEx to Interest Expense		 0.39 0.43 1.31 6.59 3.02 0.71 1.06 1.94 1.68 1.96
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 15.97% 17.37% 17.33% 13.75% 13.11% 22.31% 16.25% 14.54% 18.79% 14.88%
Augmented Payout Ratio		 15.97% 17.37% 19.12% 13.75% 13.11% 22.31% 16.25% 14.54% 18.79% 14.88%

Quarterly Metrics And Ratios for Merchants Bancorp

This table displays calculated financial ratios and metrics derived from Merchants Bancorp's official financial filings.

Metric Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 22.04% -2.57% 17.69% 46.08% 34.11% 33.98% 21.85% 14.59% 4.76% 4.96%
EBITDA Growth		 28.40% -23.45% 44.17% 55.42% 32.65% 37.52% -4.64% 9.75% 2.96% -1.43%
EBIT Growth		 28.58% -23.66% 44.55% 55.89% 32.82% 37.68% -4.80% 9.70% 2.88% -1.53%
NOPAT Growth		 23.48% -24.82% 16.98% 58.41% 35.55% 39.35% 21.08% 9.60% 3.54% -0.03%
Net Income Growth		 23.48% -24.82% 16.98% 58.41% 35.55% 39.35% 21.08% 9.60% 3.54% -0.03%
EPS Growth		 15.72% -30.36% 13.74% 68.22% 41.96% 37.70% 18.02% 4.90% -2.61% 0.00%
Operating Cash Flow Growth		 -101.36% 10.38% 121.17% -27.27% 185.81% -157.31% 42.62% -123.27% -353.42% 245.67%
Free Cash Flow Firm Growth		 -1,857.70% -27.39% -349.87% -27.58% -37.60% -462.55% 106.03% -33.38% -681.07% -9.17%
Invested Capital Growth		 148.74% 67.57% 18.25% 31.87% 11.51% 117.69% -3.46% 32.44% 9.17% -21.32%
Revenue Q/Q Growth		 29.56% -6.21% -5.04% 5.76% 3.44% 13.29% 17.87% -2.90% 3.34% 3.03%
EBITDA Q/Q Growth		 56.63% -17.76% -13.17% 14.80% -6.62% 54.88% -6.39% -2.02% -3.20% 7.40%
EBIT Q/Q Growth		 57.20% -17.93% -13.27% 14.92% -6.67% 55.39% -6.47% -2.08% -3.25% 7.44%
NOPAT Q/Q Growth		 56.13% -19.79% -12.25% 12.37% -4.95% 24.81% 18.83% -3.85% -2.28% 8.44%
Net Income Q/Q Growth		 56.13% -19.79% -12.25% 12.37% -4.95% 24.81% 18.83% -3.85% -2.28% 8.44%
EPS Q/Q Growth		 57.27% -21.48% -17.22% 13.21% -5.36% 28.24% 22.43% -4.46% -8.20% 9.91%
Operating Cash Flow Q/Q Growth		 97.97% -1,063.73% 113.32% -153.72% 233.95% -127.64% 19.91% 64.86% -189.47% 327.90%
Free Cash Flow Firm Q/Q Growth		 -79.12% -448.41% 49.89% -297.74% 88.34% -1,175.71% 125.58% -328.97% -130.71% 117.88%
Invested Capital Q/Q Growth		 20.36% 80.74% -15.64% 35.54% -18.91% 27.54% -5.92% 14.61% 58.30% -43.44%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 66.39% 54.91% 62.63% 68.49% 63.10% 69.90% 51.13% 64.38% 63.80% 68.10%
EBIT Margin		 66.00% 54.39% 62.16% 68.06% 62.64% 69.42% 50.61% 63.78% 63.24% 67.55%
Profit (Net Income) Margin		 49.37% 40.97% 47.90% 51.84% 48.79% 53.10% 48.19% 47.80% 48.28% 51.05%
Tax Burden Percent		 74.81% 75.32% 77.07% 76.17% 77.90% 76.49% 95.23% 74.95% 76.33% 75.57%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 25.19% 24.68% 22.93% 23.83% 22.10% 23.51% 4.77% 25.05% 23.67% 24.43%
Return on Invested Capital (ROIC)		 7.13% 5.92% 10.90% 10.05% 10.86% 11.56% 8.88% 9.13% 9.37% 13.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 7.13% 5.92% 10.90% 10.05% 10.86% 11.56% 8.88% 9.13% 9.37% 13.08%
Return on Net Nonoperating Assets (RNNOA)		 9.67% 8.66% 6.88% 9.40% 6.51% 6.65% 7.83% 7.16% 7.04% 4.70%
Return on Equity (ROE)		 16.79% 14.58% 17.77% 19.45% 17.37% 18.21% 16.71% 16.29% 16.41% 17.77%
Cash Return on Invested Capital (CROIC)		 -78.41% -43.64% -5.26% -17.69% 0.16% -63.29% 12.51% -18.57% 0.83% 36.57%
Operating Return on Assets (OROA)		 2.48% 1.97% 2.33% 2.61% 2.38% 2.55% 1.81% 2.45% 2.35% 2.59%
Return on Assets (ROA)		 1.85% 1.48% 1.80% 1.99% 1.86% 1.95% 1.73% 1.84% 1.80% 1.96%
Return on Common Equity (ROCE)		 11.80% 10.71% 12.88% 13.53% 11.88% 12.24% 11.55% 11.08% 11.00% 11.70%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 15.58% 17.08% 17.53% 0.00% 15.86% 15.12% 14.91% 0.00% 15.42%
Net Operating Profit after Tax (NOPAT)		 96 61 76 87 77 82 65 55 57 58
NOPAT Margin		 49.37% 40.97% 47.90% 51.84% 48.79% 53.10% 48.19% 47.80% 48.28% 51.05%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 21.60% 26.42% 20.36% 20.06% 23.53% 20.10% 21.96% 22.58% 22.03% 22.97%
Operating Expenses to Revenue		 32.62% 41.00% 31.59% 29.13% 33.11% 27.97% 32.71% 30.25% 31.34% 30.51%
Earnings before Interest and Taxes (EBIT)		 128 81 99 114 99 107 69 73 75 77
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 129 82 100 115 100 107 69 74 76 78
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 1.06 1.38 1.22 1.46 1.52 1.05 1.03 1.11 1.07 1.07
Price to Tangible Book Value (P/TBV)		 1.07 1.39 1.23 1.47 1.54 1.06 1.05 1.12 1.09 1.09
Price to Revenue (P/Rev)		 2.49 3.24 2.75 3.03 3.24 2.28 2.27 2.42 2.31 2.22
Price to Earnings (P/E)		 5.88 7.69 6.13 6.75 7.46 5.30 5.37 5.69 5.31 5.01
Dividend Yield		 0.99% 0.78% 0.84% 0.77% 0.76% 1.13% 1.18% 1.13% 1.17% 1.19%
Earnings Yield		 17.00% 13.00% 16.32% 14.82% 13.40% 18.86% 18.62% 17.59% 18.85% 19.95%
Enterprise Value to Invested Capital (EV/IC)		 0.94 0.99 0.93 1.02 1.01 0.89 0.87 0.90 0.93 0.83
Enterprise Value to Revenue (EV/Rev)		 9.32 8.61 4.42 6.00 4.81 5.62 4.62 5.39 5.02 2.85
Enterprise Value to EBITDA (EV/EBITDA)		 14.68 13.78 6.69 9.43 7.71 9.00 7.53 8.25 7.60 4.29
Enterprise Value to EBIT (EV/EBIT)		 14.79 13.88 6.74 9.50 7.77 9.08 7.60 8.32 7.67 4.32
Enterprise Value to NOPAT (EV/NOPAT)		 19.51 18.11 8.76 11.86 9.68 11.34 9.47 11.03 10.16 5.74
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.29 0.58
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 651.01 0.00 6.81 0.00 117.75 1.99
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.96 1.84 0.61 1.03 0.57 1.01 0.65 0.82 0.64 0.07
Long-Term Debt to Equity		 1.96 1.84 0.61 1.03 0.57 1.01 0.65 0.82 0.64 0.07
Financial Leverage		 1.36 1.46 0.63 0.94 0.60 0.58 0.88 0.78 0.75 0.36
Leverage Ratio		 9.07 9.84 9.88 9.77 9.35 9.35 9.67 8.87 9.14 9.09
Compound Leverage Factor		 9.07 9.84 9.88 9.77 9.35 9.35 9.67 8.87 9.14 9.09
Debt to Total Capital		 66.16% 64.79% 38.04% 50.82% 36.17% 50.32% 39.46% 45.04% 38.93% 6.44%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 66.16% 64.79% 38.04% 50.82% 36.17% 50.32% 39.46% 45.04% 38.93% 6.44%
Preferred Equity to Total Capital		 10.14% 8.16% 14.75% 13.83% 18.75% 15.20% 19.39% 18.24% 20.90% 33.08%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 23.70% 27.05% 47.21% 35.35% 45.08% 34.47% 41.16% 36.73% 40.17% 60.47%
Debt to EBITDA		 10.30 8.98 2.74 4.69 2.75 5.07 3.43 4.11 3.17 0.33
Net Debt to EBITDA		 9.18 7.47 1.46 3.39 1.08 3.82 2.15 2.88 2.40 -0.78
Long-Term Debt to EBITDA		 10.30 8.98 2.74 4.69 2.75 5.07 3.43 4.11 3.17 0.33
Debt to NOPAT		 13.69 11.81 3.60 5.90 3.45 6.39 4.31 5.49 4.23 0.45
Net Debt to NOPAT		 12.20 9.82 1.92 4.26 1.36 4.82 2.71 3.85 3.21 -1.04
Long-Term Debt to NOPAT		 13.69 11.81 3.60 5.90 3.45 6.39 4.31 5.49 4.23 0.45
Noncontrolling Interest Sharing Ratio		 29.71% 26.57% 27.52% 30.44% 31.61% 32.81% 30.90% 31.99% 32.95% 34.16%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,869 -2,160 -394 -786 -198 -1,695 158 -616 -144 468
Operating Cash Flow to CapEx		 -159.00% -10,884.84% 967.43% -16,642.32% 18,096.14% -106,533.72% -12,696.48% -28,965.71% -147,194.17% 90,060.19%
Free Cash Flow to Firm to Interest Expense		 -20.72 -10.48 -1.97 -4.20 -1.05 -9.46 1.03 -5.57 -1.67 9.60
Operating Cash Flow to Interest Expense		 -0.05 -2.39 0.26 -2.05 3.93 -3.07 -1.58 -2.73 -9.98 19.68
Operating Cash Flow Less CapEx to Interest Expense		 -0.09 -2.41 0.23 -2.06 3.91 -3.07 -1.60 -2.74 -9.98 19.66
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 13.29 14.14 15.27 15.74 14.47 14.47 13.42 13.05 13.34 13.12
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 6,629 5,508 3,047 3,612 2,665 3,287 2,577 2,739 2,390 1,510
Invested Capital Turnover		 0.14 0.14 0.23 0.19 0.22 0.22 0.18 0.19 0.19 0.26
Increase / (Decrease) in Invested Capital		 3,964 2,221 470 873 275 1,777 -92 671 201 -409
Enterprise Value (EV)		 6,251 5,473 2,825 3,694 2,704 2,935 2,235 2,476 2,232 1,249
Market Capitalization		 1,669 2,057 1,758 1,867 1,825 1,188 1,096 1,112 1,028 977
Book Value per Share		 $34.33 $32.56 $33.19 $29.47 $27.79 $26.21 $24.53 $23.27 $22.27 $21.18
Tangible Book Value per Share		 $34.16 $32.38 $33.00 $29.28 $27.42 $25.82 $24.15 $22.88 $21.88 $20.78
Total Capital		 6,629 5,508 3,047 3,612 2,665 3,287 2,577 2,739 2,390 1,510
Total Debt		 4,386 3,569 1,159 1,836 964 1,654 1,017 1,234 930 97
Total Long-Term Debt		 4,386 3,569 1,159 1,836 964 1,654 1,017 1,234 930 97
Net Debt		 3,910 2,967 618 1,327 380 1,247 640 864 704 -227
Capital Expenditures (CapEx)		 6.28 4.53 5.28 2.31 4.07 0.52 1.90 1.04 0.58 1.07
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 4,386 3,569 1,159 1,836 964 1,654 1,017 1,234 930 97
Total Depreciation and Amortization (D&A)		 0.76 0.78 0.75 0.73 0.73 0.73 0.70 0.69 0.65 0.63
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.84 $1.17 $1.50 $1.81 $1.59 $1.68 $1.31 $1.07 $1.12 $1.22
Adjusted Weighted Average Basic Shares Outstanding		 44.86M 45.76M 44.57M 43.31M 43.22M 43.24M 43.24M 43.18M 43.16M 43.11M
Adjusted Diluted Earnings per Share		 $1.84 $1.17 $1.49 $1.80 $1.59 $1.68 $1.31 $1.07 $1.12 $1.22
Adjusted Weighted Average Diluted Shares Outstanding		 45.00M 45.91M 44.70M 43.47M 43.35M 43.35M 43.31M 43.29M 43.32M 43.26M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $1.59 $0.00 $0.00 $0.00 $1.12 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 45.85M 45.76M 45.76M 43.35M 43.33M 43.24M 43.24M 43.23M 43.23M 43.11M
Normalized Net Operating Profit after Tax (NOPAT)		 96 61 76 87 77 82 65 55 57 58
Normalized NOPAT Margin		 49.37% 40.97% 47.90% 51.84% 48.79% 53.10% 48.19% 47.80% 48.28% 51.05%
Pre Tax Income Margin		 66.00% 54.39% 62.16% 68.06% 62.64% 69.42% 50.61% 63.78% 63.24% 67.55%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.68 0.39 0.50 0.61 0.53 0.59 0.45 0.66 0.87 1.59
NOPAT to Interest Expense		 0.51 0.30 0.38 0.47 0.41 0.45 0.43 0.50 0.66 1.20
EBIT Less CapEx to Interest Expense		 0.65 0.37 0.47 0.60 0.51 0.59 0.44 0.65 0.86 1.57
NOPAT Less CapEx to Interest Expense		 0.48 0.28 0.36 0.45 0.39 0.45 0.42 0.49 0.66 1.18
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 15.97% 16.03% 15.10% 15.72% 17.37% 18.61% 19.00% 18.45% 17.33% 15.88%
Augmented Payout Ratio		 15.97% 16.03% 15.10% 15.72% 17.37% 18.61% 19.00% 18.45% 19.12% 17.68%

Frequently Asked Questions About Merchants Bancorp's Financials

When does Merchants Bancorp's financial year end?

According to the most recent income statement we have on file, Merchants Bancorp's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Merchants Bancorp's net income changed over the last 9 years?

Merchants Bancorp's net income appears to be on an upward trend, with a most recent value of $320.39 million in 2024, rising from $28.38 million in 2015. The previous period was $279.23 million in 2023. See where experts think Merchants Bancorp is headed by visiting Merchants Bancorp's forecast page.

How has Merchants Bancorp revenue changed over the last 9 years?

Over the last 9 years, Merchants Bancorp's total revenue changed from $69.06 million in 2015 to $670.73 million in 2024, a change of 871.2%.

How much debt does Merchants Bancorp have?

Merchants Bancorp's total liabilities were at $16.56 billion at the end of 2024, a 8.6% increase from 2023, and a 1,656,242,200,000.0% increase since 2016.

How much cash does Merchants Bancorp have?

In the past 8 years, Merchants Bancorp's cash and equivalents has ranged from $10.06 million in 2020 to $445.70 million in 2016, and is currently $10.99 million as of their latest financial filing in 2024.

How has Merchants Bancorp's book value per share changed over the last 9 years?

Over the last 9 years, Merchants Bancorp's book value per share changed from 0.00 in 2015 to 34.33 in 2024, a change of 3,433.2%.


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This page (NASDAQ:MBIN) was last updated on 5/21/2025 by MarketBeat.com Staff
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