# Merchants Bancorp (MBIN) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Financial Services / Banks. Price $51.83, market value $2.4 billion.

## Valuation
- **P/E (trailing): 8.5×** (5-yr avg 6.7×, 3-yr avg 7.3×). Merchants Bancorp trades at 8.5× trailing earnings, well above its own five-year average of 6.7×: investors are paying up relative to the company's past. The Financial Services median in the September 2026 study was 13.1×. Forward P/E is 8.6×, higher than trailing, so analysts expect earnings to fall.
- **Price / book: 1.2×**. The shares trade at 1.2× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -32.1%** (5-yr avg -1.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 11.7%**. The inverse of the P/E: 11.7% of the price is earned each year.

## Profitability
- **Return on equity: 9.6%**. 9.6% on shareholders' equity is weak; the business earns little on the capital its owners have in it.

## Growth
- **EPS growth (1 yr): -40.0%** (3-yr -5.4%/yr, 5-yr -0.4%/yr). Earnings per share fell 40.0%.

## Financial health
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend yield: 0.85%** ($0.10 per share, trailing). Merchants Bancorp yields 0.85%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 27%**. 27% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 9**. 9 straight years of increases.
- **Dividend growth (5 yr): 13.4%/yr** (1-yr 11.1%). The dividend has compounded at 13.4% a year over five years, doubling roughly every 5 years at that pace.

## Analyst view
- **Analyst consensus: buy** (2 analysts). 2 analysts cover Merchants Bancorp; the consensus is buy, with an average price target of $67.00 (+29% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 70.1%** (YTD 55.4%, 3-mo -5.5%). The shares are up 70.1% over twelve months including dividends.
- **From 52-week high: -8.9%** (70.7% above the low). Trading 9% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 65**. An RSI of 65 is neutral.
- **Beta (1 yr): 0.47** (volatility 34%). Beta of 0.47 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=MBIN · Page: https://foliofundamentals.com/stocks/mbin

Not investment advice.