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Merchants Bancorp MBIN Mortgage Warehousing — Labor And Related Expense

Other segment segments

Multi Family Mortgage Banking
$20.98M+0.2%
Banking
$6.75M+4.2%

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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
Debt / equity2.1×+0.2×

Where this comes from

Reported directly by Merchants Bancorp in its filing.

Tagged under the XBRL concept us-gaap:LaborAndRelatedExpense.

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 mortgage warehousing — labor and related expense?
Merchants Bancorp (MBIN) reported mortgage warehousing — labor and related expense of $1.97M in Q1 2026.
How has Merchants Bancorp's mortgage warehousing — labor and related expense changed year-over-year?
Merchants Bancorp's mortgage warehousing — labor and related expense decreased by 0.5% year-over-year, from $1.98M to $1.97M.
What does mortgage warehousing — labor and related expense mean?
Captures the total costs associated with compensation, benefits, and payroll taxes for personnel dedicated to the mortgage warehousing segment. This is a primary component of the segment's operating overhead. Tracking this metric allows for the analysis of labor efficiency and the scalability of the segment's workforce relative to its revenue generation.