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Merchants Bancorp MBIN Q3 2025 earnings

Reported October 28, 2025 · Before market open

Revenue$169.8MMiss by $5.2M
EPS$0.97Beat by $0.18
Revenue estimate$175.0M
EPS estimate$0.79

Next report

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

Financials

Q3 2025

Income statement

See full
Revenue$171.1M+14.4%
Net income$54.7M-10.7%
EPS (diluted)$0.97-17.1%

Balance sheet

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Cash & equivalents$598.0M-0.6%
Total debt$2.9B-18.7%
Total equity$2.2B+14.8%
Total assets$19.4B+3.8%

Cash flow

See full
Operating cash flow$29.8M+106%
CapEx$5.8M+27.7%
Free cash flow$24.0M+105%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$1.46B-27.2%
Enterprise value$3.77B-24.3%
P/E5.9×-0.7×
P/S2.1×-1.0×

Profitability

See full
Net margin35.7%-11.8pp
FCF margin3.4%—

Returns & leverage

See full
Return on equity11.8%-5.1pp
Debt / equity1.3×-0.5×

FAQ

When did Merchants Bancorp report Q3 2025 earnings?
Merchants Bancorp (MBIN) reported Q3 2025 earnings on October 28, 2025 before market open.
What were Merchants Bancorp's Q3 2025 revenue and EPS?
Merchants Bancorp reported revenue of $169.8M and eps of $0.97 for Q3 2025.
Did Merchants Bancorp beat estimates in Q3 2025?
Revenue missed the consensus estimate of $175.0M by $5.2M. EPS beat the consensus estimate of $0.79 by $0.18.
How did Merchants Bancorp's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.4% from $148.4M a year earlier and eps declined 17.1% from $1.17.
Where can I find Merchants Bancorp's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001104659-25-103169) and the 10-Q periodic report (0001104659-25-108470) directly on SEC EDGAR. The filing index links above go to sec.gov.