MERCHANTS BANCORP/IN(NASDAQ:MBIN) stock Fundamental Analysis

Fundamental Rating

Taking everything into account, MBIN scores 3 out of 10 in our fundamental rating. MBIN was compared to 101 industry peers in the Financial Services industry. Both the profitability and financial health of MBIN have multiple concerns. MBIN has a correct valuation and a medium growth rate.

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1. Profitability

1.1 Basic Checks

In the past year MBIN was profitable.

In the past year MBIN has reported a negative cash flow from operations.

MBIN had positive earnings in each of the past 5 years.

MBIN had negative operating cash flow in 4 of the past 5 years.

1.2 Ratios

MBIN has a Return On Assets (1.43%) which is in line with its industry peers.

MBIN's Return On Equity of 13.80% is fine compared to the rest of the industry. MBIN outperforms 62.38% of its industry peers.

		Industry Rank	Sector Rank
ROA	1.43%
ROE	13.8%
ROIC	N/A

ROA(3y)1.5%

ROA(5y)1.61%

ROE(3y)13.43%

ROE(5y)15.73%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

With an excellent Profit Margin value of 42.08%, MBIN belongs to the best of the industry, outperforming 87.13% of the companies in the same industry.

MBIN's Profit Margin has been stable in the last couple of years.

The Operating Margin and Gross Margin are not available for MBIN so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	42.08%
GM	N/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-3.71%

PM growth 5Y1.01%

GM growth 3YN/A

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

MBIN does not have a ROIC to compare to the WACC, probably because it is not profitable.

MBIN has more shares outstanding than it did 1 year ago.

MBIN has more shares outstanding than it did 5 years ago.

MBIN has a worse debt/assets ratio than last year.

2.2 Solvency

A Debt/Equity ratio of 0.10 indicates that MBIN is not too dependend on debt financing.

With a decent Debt to Equity ratio value of 0.10, MBIN is doing good in the industry, outperforming 79.21% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0.1
Debt/FCF	N/A
Altman-Z	N/A

ROIC/WACCN/A

WACC27.37%

2.3 Liquidity

		Industry Rank	Sector Rank
Current Ratio	N/A
Quick Ratio	N/A

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 11.88% over the past year.

MBIN shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 31.91% yearly.

Looking at the last year, MBIN shows a quite strong growth in Revenue. The Revenue has grown by 19.19% in the last year.

The Revenue has been growing by 31.68% on average over the past years. This is a very strong growth!

EPS 1Y (TTM)11.88%

EPS 3Y9.85%

EPS 5Y31.91%

EPS Q2Q%17.09%

Revenue 1Y (TTM)19.19%

Revenue growth 3Y15.5%

Revenue growth 5Y31.68%

Sales Q2Q%27.45%

3.2 Future

The Earnings Per Share is expected to decrease by -2.01% on average over the next years.

The Revenue is expected to grow by 4.80% on average over the next years.

EPS Next Y-9.96%

EPS Next 2Y-1.96%

EPS Next 3Y-2.01%

EPS Next 5YN/A

Revenue Next Year9.24%

Revenue Next 2Y7.5%

Revenue Next 3Y4.8%

Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 6.57, which indicates a rather cheap valuation of MBIN.

Based on the Price/Earnings ratio, MBIN is valued cheaper than 89.11% of the companies in the same industry.

MBIN is valuated cheaply when we compare the Price/Earnings ratio to 29.63, which is the current average of the S&P500 Index.

MBIN is valuated cheaply with a Price/Forward Earnings ratio of 7.30.

Compared to the rest of the industry, the Price/Forward Earnings ratio of MBIN indicates a rather cheap valuation: MBIN is cheaper than 84.16% of the companies listed in the same industry.

MBIN's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.68.

		Industry Rank	Sector Rank
PE	6.57
Fwd PE	7.3

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

MBIN's earnings are expected to decrease with -2.01% in the coming years. This may justify a cheaper valuation.

PEG (NY)N/A

PEG (5Y)0.21

EPS Next 2Y-1.96%

EPS Next 3Y-2.01%

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5. Dividend

5.1 Amount

MBIN has a yearly dividend return of 0.84%, which is pretty low.

Compared to an average industry Dividend Yield of 3.86, MBIN pays a bit more dividend than its industry peers.

Compared to an average S&P500 Dividend Yield of 2.27, MBIN's dividend is way lower than the S&P500 average.

		Industry Rank	Sector Rank
Dividend Yield	0.84%

5.2 History

On average, the dividend of MBIN grows each year by 25.83%, which is quite nice.

MBIN has been paying a dividend for over 5 years, so it has already some track record.

MBIN has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.

Dividend Growth(5Y)25.83%

Div Incr Years6

Div Non Decr Years6

5.3 Sustainability

18.11% of the earnings are spent on dividend by MBIN. This is a low number and sustainable payout ratio.

DP18.11%

EPS Next 2Y-1.96%

EPS Next 3Y-2.01%

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MERCHANTS BANCORP/IN

NASDAQ:MBIN (2/21/2025, 8:00:01 PM)

After market: 41.47 0 (0%)

41.47

-1.24 (-2.9%)

Chartmill FA Rating

GICS SectorFinancials

GICS IndustryGroupFinancial Services

GICS IndustryFinancial Services

Earnings (Last)01-28 2025-01-28/amc

Earnings (Next)04-28 2025-04-28/amc

Inst Owners92.62%

Inst Owner Change-45.25%

Ins Owners35.19%

Ins Owner Change0.57%

Market Cap1.90B

Analysts80

Price Target53.21 (28.31%)

Short Float %3.03%

Short Ratio5.04

Dividend

		Industry Rank	Sector Rank
Dividend Yield	0.84%

Yearly Dividend1.12

Dividend Growth(5Y)25.83%

DP18.11%

Div Incr Years6

Div Non Decr Years6

Ex-DateN/A

Surprises & Revisions

EPS beat(2)0

Avg EPS beat(2)-13.11%

Min EPS beat(2)-19.45%

Max EPS beat(2)-6.78%

EPS beat(4)2

Avg EPS beat(4)2.67%

Min EPS beat(4)-19.45%

Max EPS beat(4)29.24%

EPS beat(8)5

Avg EPS beat(8)4.47%

EPS beat(12)7

Avg EPS beat(12)5.36%

EPS beat(16)10

Avg EPS beat(16)9.12%

Revenue beat(2)0

Avg Revenue beat(2)-7.56%

Min Revenue beat(2)-12.42%

Max Revenue beat(2)-2.71%

Revenue beat(4)2

Avg Revenue beat(4)0.92%

Min Revenue beat(4)-12.42%

Max Revenue beat(4)14.21%

Revenue beat(8)5

Avg Revenue beat(8)2.49%

Revenue beat(12)7

Avg Revenue beat(12)3.71%

Revenue beat(16)10

Avg Revenue beat(16)6.06%

PT rev (1m)-0.63%

PT rev (3m)-6.85%

EPS NQ rev (1m)1.3%

EPS NQ rev (3m)-0.92%

EPS NY rev (1m)3.14%

EPS NY rev (3m)0.14%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)0.19%

Revenue NY rev (1m)5.87%

Revenue NY rev (3m)4.97%

Valuation

		Industry Rank	Sector Rank
PE	6.57
Fwd PE	7.3
P/S	2.99
P/FCF	N/A
P/OCF	N/A
P/B	0.98
P/tB	1.08
EV/EBITDA	N/A

EPS(TTM)6.31

EY15.22%

EPS(NY)5.68

Fwd EY13.7%

FCF(TTM)-2.78

FCFYN/A

OCF(TTM)-2.42

OCFYN/A

SpS13.89

BVpS42.37

TBVpS38.32

PEG (NY)N/A

PEG (5Y)0.21

Profitability

		Industry Rank	Sector Rank
ROA	1.43%
ROE	13.8%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	42.08%
GM	N/A
FCFM	N/A

ROA(3y)1.5%

ROA(5y)1.61%

ROE(3y)13.43%

ROE(5y)15.73%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3Y-3.71%

PM growth 5Y1.01%

GM growth 3YN/A

GM growth 5YN/A

F-Score5

Asset Turnover0.03

Health

		Industry Rank	Sector Rank
Debt/Equity	0.1
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	541.85%
Cap/Sales	2.55%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	N/A
Quick Ratio	N/A
Altman-Z	N/A

F-Score5

WACC27.37%

ROIC/WACCN/A

Cap/Depr(3y)N/A

Cap/Depr(5y)N/A

Cap/Sales(3y)N/A

Cap/Sales(5y)N/A

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)11.88%

EPS 3Y9.85%

EPS 5Y31.91%

EPS Q2Q%17.09%

EPS Next Y-9.96%

EPS Next 2Y-1.96%

EPS Next 3Y-2.01%

EPS Next 5YN/A

Revenue 1Y (TTM)19.19%

Revenue growth 3Y15.5%

Revenue growth 5Y31.68%

Sales Q2Q%27.45%

Revenue Next Year9.24%

Revenue Next 2Y7.5%

Revenue Next 3Y4.8%

Revenue Next 5YN/A

EBIT growth 1YN/A

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next YearN/A

EBIT Next 3YN/A

EBIT Next 5YN/A

FCF growth 1Y93.42%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y94.25%

OCF growth 3YN/A

OCF growth 5YN/A

MERCHANTS BANCORP/IN (MBIN) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

5.2 History

5.3 Sustainability

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