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Merchants Bancorp

MBIN

$51.30 ▼ -0.86 (-1.64%) at close

12 Visible periods

36 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Good

Bullish

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Analytical Summary

Merchants Bancorp shows strong fundamentals with top-quartile Profit Margin (%) and Operating Margin (%). The company's metrics support a bullish outlook for growth-oriented investors.

Market Cap $2.4B

Dividend Yield 0.78%

Revenue Growth 1.6% ↘

Op. Margin 38.7% ↘

ROIC None

FCF / Share None

Trailing P/E 13.6x

Price / Book 1.0x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Sep 23, 2026.

12-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$681.45M

↑ +1.6% —

Net Income Profit after all expenses

$218.77M

↓ -31.7% —

Operating Margin Operating profit as % of sales

38.7%

↓ -38.6% 93th

Long-Term Debt Long-term obligations

$181.44M

↓ -7.2% —

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Bullish Indicators

Operating Margin (%)Operating Margin (%) is in the top quartile
Profit Margin (%)Profit Margin (%) is in the top quartile

warning

Bearish Risks

No bearish risks detected.

Health Breakdown

Profitability ↓

Returns ↓

Dividend History

Dividend / share · sourced from SEC filings

$0.40 Latest / share

+11.1% YoY

+24.6% 11-yr CAGR

FY 2014

$0.04

FY 2015

$0.04

FY 2016

$0.04

FY 2017

$0.05

FY 2018

$0.06

FY 2019

$0.21

FY 2020

$0.24

FY 2021

$0.28

FY 2022

$0.32

FY 2023

$0.36

FY 2024

$0.40

FY 2025

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Revenue Growth YoY (%)	1.6% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-73%)	19.2% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+220%)	26.6% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+343%)	2.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-65%)	23.8% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+297%)	107.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1693%)	21.4% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+256%)	22.1% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+269%)	38.6% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+543%)	19.4% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+224%)	—	—
EPS Growth YoY (%)	-40.2% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	11.7% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	26.1% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	-6.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	24.2% Good ↓ Good Declining Year-over-year change in earnings per share Optimal: > 10%	631.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	13.9% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	-8.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	55.1% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	8.9% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	-31.7% Weak ↓ Weak Declining Year-over-year change in net income	14.7% Fair ↓ Fair Declining Year-over-year change in net income	27.1% Excellent ↓ Excellent Declining Year-over-year change in net income	-3.3% Weak ↓ Weak Declining Year-over-year change in net income	25.8% Excellent ↓ Excellent Declining Year-over-year change in net income	133.5% Excellent ↑ Excellent Improving Year-over-year change in net income	23.0% Good ↓ Good Declining Year-over-year change in net income	15.0% Fair ↓ Fair Declining Year-over-year change in net income	65.1% Excellent Excellent Year-over-year change in net income	16.7% Good Good Year-over-year change in net income	—	—
FCF Growth YoY (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Revenue CAGR 3Y (%)	15.3% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	15.5% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	17.0% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	37.9% Excellent → Excellent Stable Compound annual revenue growth over 3 years	46.1% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	45.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	27.1% Excellent Excellent Compound annual revenue growth over 3 years	26.4% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	14.1% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	31.7% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	32.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	31.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	39.5% Excellent Excellent Compound annual revenue growth over 5 years	38.5% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-5.6% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	9.8% Fair ↓ Fair Declining Compound annual EPS growth over 3 years	13.7% Good ↓ Good Declining Compound annual EPS growth over 3 years	104.3% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	117.9% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	96.6% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	17.3% Excellent Excellent Compound annual EPS growth over 3 years	15.5% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Operating Margin (%) (%)	38.7% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+55%)	63.0% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+152%)	61.8% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+147%)	65.5% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+162%)	70.0% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+180%)	69.2% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+177%)	60.3% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+141%)	60.2% Excellent ↓ Excellent Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+141%)	67.5% Excellent → Excellent Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+170%)	66.4% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+166%)	68.3% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+173%)	—
Effective Tax Rate (%) (%)	17.1% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.2% Fair → Fair Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.7% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.5% Fair → Fair Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	25.5% Caution → Caution Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	25.8% Caution → Caution Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	24.3% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	25.2% Caution ↓ Caution Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	29.1% Caution ↓ Caution Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	39.5% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	39.8% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	32.1% Excellent ↓ Excellent Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+46%)	47.8% Excellent ↓ Excellent Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+117%)	49.6% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+126%)	49.4% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+125%)	52.2% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+137%)	51.3% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+133%)	45.7% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+108%)	45.1% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+105%)	47.9% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+118%)	40.2% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+83%)	41.1% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+87%)	—
FCF Margin (%) (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF / Net Income (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Return on Invested Capital (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Capital (%) (%)	1.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.7% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	2.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	1.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	9.6% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-20%)	14.3% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+19%)	16.4% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+37%)	15.1% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+25%)	19.7% Good ↑ Good Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+64%)	22.3% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+86%)	11.8% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	14.9% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+24%)	14.9% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+24%)	16.1% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+34%)	19.2% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+60%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Debt to Equity (x)	—	—	—	—	—	—	0.28x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-77%)	0.46x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-61%)	0.15x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-87%)	0.28x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-77%)	—	—
Interest Coverage (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Debt (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt / EBITDA (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

📊 What does each share earn? 8 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Revenue per Share (USD)	$14.86	$14.95	$13.02	$10.30	$10.08	$8.16	$1.31	$1.08	$1.13	$0.87	$0.73	—
Basic EPS, GAAP (USD)	$3.78	$6.32	$5.66	$4.49	$4.78	$3.85	$0.53	$0.46	$0.51	$0.33	$0.30	—
Free Cash Flow per Share (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend per Share (USD)	$0.40	$0.36	$0.32	$0.28	$0.24	$0.21	$0.06	$0.05	$0.04	$0.04	$0.04	—
Book Value per Share (USD)	$49.70	$49.02	$39.34	$33.86	$26.76	$18.80	$5.06	$3.26	$2.85	$2.17	$1.56	—
Tangible Book Value per Share (USD)	$49.52	$48.84	$38.95	$33.46	$26.35	$18.38	$4.91	$3.10	$2.80	$2.17	$1.56	—
Basic Weighted Avg Shares (shares)	45.87M	44.86M	43.22M	43.16M	43.17M	43.11M	129.17M	129.12M	101.48M	95.00M	94.84M	—
Dividend Payout Ratio (%)	10.6% Excellent ↑ Excellent Improving Dividends paid as a percentage of earnings Optimal: 30-60%	5.7% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	5.7% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	6.2% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	5.0% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	5.5% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	11.8% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	11.5% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	8.8% Excellent ↓ Excellent Declining Dividends paid as a percentage of earnings Optimal: 30-60%	13.6% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	14.8% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Working Capital (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
LT Debt (USD)	—	—	—	—	—	—	$181.44M	$195.45M	$56.61M	$57.01M	—	—
Total Equity (USD)	$2.28B	$2.24B	$1.70B	$1.46B	$1.16B	$810.62M	$653.73M	$421.24M	$367.47M	$206.29M	$148.20M	$110.14M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Sales/Revenue/Turnover (USD)	$681.45M	$670.73M	$562.74M	$444.49M	$435.33M	$351.62M	$169.39M	$139.56M	$114.28M	$82.47M	$69.06M	—
Depreciation Expense (USD)	$3.46M	$3.01M	$2.85M	$2.48M	$2.19M	$1.90M	$852.00K	$461.00K	$296.00K	$278.00K	$301.00K	—
Net Income, GAAP (USD)	$218.77M	$320.39M	$279.23M	$219.72M	$227.10M	$180.53M	$77.33M	$62.87M	$54.68M	$33.13M	$28.38M	—
Operating Cash Flow (USD)	$-341.25M	$-835.28M	$-356.40M	$975.77M	$-49.22M	$-874.89M	$-1.26B	$204.34M	$-175.89M	$-149.77M	$118.33M	—

🏛️ Sector-Specific 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗
Net Interest Margin (approx.) (%)	2.7%	2.8%	2.6%	2.5%	2.5%	2.3%	1.9%	2.3%	2.0%	2.0%	1.9%	—
Efficiency Ratio (%) (%)	44.0%	33.4%	31.0%	30.6%	28.8%	27.4%	37.4%	36.5%	30.3%	32.4%	30.3%	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced yesterday 12 years · 42 quarters

Merchants Bancorp

Analytical Summary

12-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

Statement lens

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Peer Comparison

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