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Merchants Bancorp MBIN Debt-to-equity

Debt-to-equity at other companies

JPMorgan Chase logo
JPMorgan ChaseJPM
1.4×+0.1×
Walker & Dunlop logo
Walker & DunlopWD
0.1×0.0×
Rocket Companies logo
Rocket CompaniesRKT
0.4×+0.4×
Banner Corporation logo
Banner CorporationBANR
0.0×
Customers Bancorp logo
Customers BancorpCUBI
0.8×+0.1×
First Merchants Corporation logo
First Merchants CorporationFRME
0.6×0.0×

Other financials

Income statement

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Revenue$175.2M+20.1%
Net income$67.7M+16.3%
EPS (diluted)$1.25+34.4%

Balance sheet

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Cash & equivalents$83.2M-84.0%
Total debt$4.8B+19.4%
Total equity$2.3B+7.8%
Total assets$20.3B+8.1%

Cash flow

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Operating cash flow-$597.3M-503%
CapEx$1.1M-83.3%
Free cash flow-$598.5M-524%

Valuation

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Market cap$2.29B+16.3%
Enterprise value$7B+28.8%
P/E10×+3.3×
P/S3.2×+0.2×

Profitability

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Net margin32.1%-12.8pp
FCF margin-155%-376pp

Returns & leverage

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Return on equity10.2%-4.6pp

Where this comes from

Calculated from Merchants Bancorp’s reported figures.

Based on the most recent quarter.

The official record: Merchants Bancorp’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Merchants Bancorp's debt-to-equity?
Merchants Bancorp (MBIN) reported debt-to-equity of 2.1× in Q1 2026.
How has Merchants Bancorp's debt-to-equity changed year-over-year?
Merchants Bancorp's debt-to-equity increased by 10.7% year-over-year, from 1.9× to 2.1×.
What is the long-term trend for Merchants Bancorp's debt-to-equity?
Over 5 years (2020 to 2025), Merchants Bancorp's debt-to-equity has grown at a 0.3% compound annual growth rate (CAGR), from 1.7× to 1.7×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.