MERCHANTS BANCORP/IN (MBIN)
US58844R1086 - Common Stock
MBIN gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 99 industry peers in the Financial Services industry. Both the profitability and financial health of MBIN have multiple concerns. MBIN is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one!
1. Profitability
1.1 Basic Checks
MBIN had positive earnings in the past year.
MBIN had a negative operating cash flow in the past year.
MBIN had positive earnings in each of the past 5 years.
In the past 5 years MBIN reported 4 times negative operating cash flow.
1.2 Ratios
MBIN has a Return On Assets of 1.43%. This is comparable to the rest of the industry: MBIN outperforms 42.42% of its industry peers.
Looking at the Return On Equity, with a value of 13.80%, MBIN is in the better half of the industry, outperforming 61.62% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.43% | ||
| ROE | 13.8% | ||
| ROIC | N/A |
ROA(3y)1.6%
ROA(5y)1.52%
ROE(3y)15.17%
ROE(5y)15.28%
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 85.86% of the companies in the same industry.
In the last couple of years the Profit Margin of MBIN has remained more or less at the same level.
MBIN does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
| 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-2.73%
PM growth 5Y0.37%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
MBIN does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, MBIN has more shares outstanding
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.
Looking at the Debt to Equity ratio, with a value of 0.10, MBIN is in the better half of the industry, outperforming 77.78% 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
WACC24.46%
2.3 Liquidity
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | N/A | ||
| Quick Ratio | N/A |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 16.60% over the past year.
The Earnings Per Share has been growing by 32.39% on average over the past years. This is a very strong growth
Looking at the last year, MBIN shows a very strong growth in Revenue. The Revenue has grown by 21.71%.
Measured over the past years, MBIN shows a very strong growth in Revenue. The Revenue has been growing by 32.16% on average per year.
EPS 1Y (TTM)16.6%
EPS 3Y13.54%
EPS 5Y32.39%
EPS Q2Q%-30.36%
Revenue 1Y (TTM)21.71%
Revenue growth 3Y16.97%
Revenue growth 5Y32.16%
Sales Q2Q%-4.57%
3.2 Future
Based on estimates for the next years, MBIN will show a small growth in Earnings Per Share. The EPS will grow by 2.22% on average per year.
The Revenue is expected to grow by 9.72% on average over the next years. This is quite good.
EPS Next Y4.53%
EPS Next 2Y-1.17%
EPS Next 3Y2.22%
EPS Next 5YN/A
Revenue Next Year19.1%
Revenue Next 2Y10.86%
Revenue Next 3Y9.72%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
MBIN is valuated cheaply with a Price/Earnings ratio of 5.99.
MBIN's Price/Earnings ratio is rather cheap when compared to the industry. MBIN is cheaper than 91.92% of the companies in the same industry.
MBIN's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.20.
MBIN is valuated cheaply with a Price/Forward Earnings ratio of 6.56.
Based on the Price/Forward Earnings ratio, MBIN is valued cheaper than 83.84% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of MBIN to the average of the S&P500 Index (23.73), we can say MBIN is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.99 | ||
| Fwd PE | 6.56 |
4.2 Price Multiples
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
MBIN's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.32
PEG (5Y)0.18
EPS Next 2Y-1.17%
EPS Next 3Y2.22%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.00%, MBIN has a reasonable but not impressive dividend return.
In the last 3 months the price of MBIN has falen by -20.67%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
MBIN's Dividend Yield is a higher than the industry average which is at 3.79.
Compared to an average S&P500 Dividend Yield of 2.36, MBIN's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1% |
5.2 History
The dividend of MBIN is nicely growing with an annual growth rate of 25.83%!
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
MBIN pays out 18.11% of its income as dividend. This is a sustainable payout ratio.
MBIN's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP18.11%
EPS Next 2Y-1.17%
EPS Next 3Y2.22%
MERCHANTS BANCORP/IN
NASDAQ:MBIN (12/20/2024, 8:23:35 PM)
After market: 36.15 0 (0%)36.15
+0.21 (+0.58%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryFinancial Services
Earnings (Last)
Earnings (Next)
Inst Owners32.84%
Inst Owner Change-2.66%
Ins Owners37.33%
Ins Owner Change1.88%
Market Cap1.65B
Analysts80
Price Target53.55 (48.13%)
Short Float %2.42%
Short Ratio3.82
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1% |
Dividend Growth(5Y)25.83%
DP18.11%
Div Incr Years6
Div Non Decr Years6
Ex-Date
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)-6.25%
PT rev (3m)-7.89%
EPS NQ rev (1m)-2.2%
EPS NQ rev (3m)-10.66%
EPS NY rev (1m)0.24%
EPS NY rev (3m)-7.06%
Revenue NQ rev (1m)0.19%
Revenue NQ rev (3m)3.19%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)-1.68%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.99 | ||
| Fwd PE | 6.56 | ||
| P/S | 2.6 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 0.85 | ||
| P/tB | 0.94 | ||
| EV/EBITDA | N/A |
EPS(TTM)6.04
EY16.71%
EPS(NY)5.51
Fwd EY15.24%
FCF(TTM)-2.78
FCFYN/A
OCF(TTM)-2.42
OCFYN/A
SpS13.89
BVpS42.38
TBVpS38.33
PEG (NY)1.32
PEG (5Y)0.18
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)1.6%
ROA(5y)1.52%
ROE(3y)15.17%
ROE(5y)15.28%
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-2.73%
PM growth 5Y0.37%
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
WACC24.46%
ROIC/WACCN/A
Cap/Depr(3y)261.72%
Cap/Depr(5y)523.49%
Cap/Sales(3y)1.39%
Cap/Sales(5y)2.69%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)16.6%
EPS 3Y13.54%
EPS 5Y32.39%
EPS Q2Q%-30.36%
EPS Next Y4.53%
EPS Next 2Y-1.17%
EPS Next 3Y2.22%
EPS Next 5YN/A
Revenue 1Y (TTM)21.71%
Revenue growth 3Y16.97%
Revenue growth 5Y32.16%
Sales Q2Q%-4.57%
Revenue Next Year19.1%
Revenue Next 2Y10.86%
Revenue Next 3Y9.72%
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 1Y-105.87%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-105.11%
OCF growth 3YN/A
OCF growth 5YN/A