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Merchants Bancorp MBIN Q2 2025 earnings

Reported July 28, 2025 · After market close

Revenue$178.1MBeat by $13.3M
EPS$0.60Miss by $0.52
Revenue estimate$164.8M
EPS estimate$1.12

Next report

Oct 27, 2026 (in a month)
Revenue estimate$183.0M
EPS estimate$1.40

Financials

Q2 2025

Income statement

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Revenue$179.2M+12.4%
Net income$38.0M-50.3%
EPS (diluted)$0.60-59.7%

Balance sheet

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Cash & equivalents$647.2M+19.6%
Total debt$4.0B+244%
Total equity$2.2B+15.7%
Total assets$19.1B+5.1%

Cash flow

See full
Operating cash flow-$121.2M—
CapEx$4.5M-14.9%
Free cash flow-$125.7M—

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$1.51B-14.1%
Enterprise value$4.88B+105%
P/E6×+0.5×
P/S2.3×-0.5×

Profitability

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Net margin37.9%-12.5pp
FCF margin-74.5%—

Returns & leverage

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Return on equity12.4%-6.3pp
Debt / equity1.8×+1.2×

FAQ

When did Merchants Bancorp report Q2 2025 earnings?
Merchants Bancorp (MBIN) reported Q2 2025 earnings on July 28, 2025 after market close.
What were Merchants Bancorp's Q2 2025 revenue and EPS?
Merchants Bancorp reported revenue of $178.1M and eps of $0.60 for Q2 2025.
Did Merchants Bancorp beat estimates in Q2 2025?
Revenue beat the consensus estimate of $164.8M by $13.3M. EPS missed the consensus estimate of $1.12 by $0.52.
How did Merchants Bancorp's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 12.4% from $158.5M a year earlier and eps declined 59.7% from $1.49.
Where can I find Merchants Bancorp's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-071178) and the 10-Q periodic report (0001558370-25-011041) directly on SEC EDGAR. The filing index links above go to sec.gov.