Where do Merchants Bancorp's ratios come from?

Every ratio is computed from Merchants Bancorp's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Merchants Bancorp MBIN Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Net margin	32.1%-12.8pp	32.1%-15.7pp	35.7%-11.8pp	37.9%-12.5pp	44.9%-5.6pp
Returns
Return on equity	10.2%-4.6pp	9.7%-6.6pp	11.8%-5.1pp	12.4%-6.3pp	14.8%-4.2pp
Efficiency
Asset turnover	0×0.0×	0×0.0×	0×0.0×	0×0.0×	0×0.0×
Leverage
Debt-to-equity	2.1×+0.2×	1.7×-0.3×	1.3×-0.5×	1.8×+1.2×	1.9×+0.8×
Per Share
Book value per share	$50.66+7.7%	$49.64-0.4%	$48.43+14.7%	$47.56+12.6%	$47.06+15.1%
Valuation
Market capitalization	$1.97B+16.3%	$1.56B-6.4%	$1.46B-27.2%	$1.51B-14.1%	$1.7B-9.3%
Price / earnings	8.6×+2.8×	7.1×+1.9×	5.9×-0.7×	6×+0.5×	5.8×-0.2×
Price / sales	2.8×+0.2×	2.3×-0.2×	2.1×-1.0×	2.3×-0.5×	2.6×-0.4×
Price / book	0.8×+0.1×	0.7×-0.1×	0.7×-0.4×	0.7×-0.2×	0.8×-0.3×
Dividend yield	3%-0.1pp	3.8%+0.7pp	4.1%+1.7pp	3.7%+1.0pp	3.2%+0.5pp

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Where do Merchants Bancorp's ratios come from?: Every ratio is computed from Merchants Bancorp's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.