MBINM
Merchants Bancorp
NasdaqCMUSDEQUITY
Financial Services
DELAYED
Last price
25.53
▼ 0.03 (0.10%)
MARKET · —
Price
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
25.47
Prev close
25.55
Day high
25.60
Day low
25.46
Volume
1.78K
Market cap
—
P/E (TTM)
—
52W range
24.00 – 25.96
Trailing performance
Returnvs SPY
1W
-0.33%
+1.0%
1M
+0.02%
-3.7%
3M
-0.23%
-3.3%
6M
+0.10%
-11.0%
YTD
+0.65%
-11.6%
1Y
+0.97%
-19.0%
3Y
+6.88%
-67.3%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on MBINM open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
0
Total on file
Fundamentals
Market cap—
Enterprise value$5.23B
Revenue (TTM)$632.34M
Gross profit$632.34M
EBITDA—
Net income$228.74M
EPS (TTM)—
Free cash flow—
Total cash$791.88M
Total debt$4.30B
Book value / share$40.11
Shares outstanding—
Float25.37M
Short % of float—
Dividend yield8.07%
Beta (5Y)1.16
Valuation & profitability ratios
Trailing P/E—
Forward P/E—
PEG ratio—
Price / sales—
Price / book0.64
EV / revenue8.27
EV / EBITDA—
Gross margin0.00%
Operating margin61.07%
Profit margin42.47%
Return on equity11.73%
Return on assets1.33%
Debt / equity—
Current ratio—
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $677.24M | $666.97M | $559.33M | $439.78M | +1.5% |
| Operating revenue | $677.24M | $666.97M | $559.33M | $439.78M | +1.5% |
| Selling, general & admin | $198.31M | $156.88M | $121.76M | $92.55M | +26.4% |
| Pre-tax income | $263.80M | $422.64M | $347.91M | $291.14M | -37.6% |
| Tax provision | $45.03M | $102.26M | $68.67M | $71.42M | -56.0% |
| Net income | $218.77M | $320.39M | $279.23M | $219.72M | -31.7% |
| Net income to common | $173.55M | $283.65M | $244.56M | $193.74M | -38.8% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $212.20M | $476.61M | $584.42M | $226.16M | — | -55.5% |
| Accounts receivable | $81.81M | $83.41M | $91.35M | $56.26M | — | -1.9% |
| Property, plant & equipment | $73.93M | $58.62M | $42.34M | $35.44M | — | +26.1% |
| Goodwill & intangibles | $225.53M | $198.01M | $175.04M | $163.28M | — | +13.9% |
| Total assets | $19.45B | $18.81B | $16.95B | $12.62B | — | +3.4% |
| Current debt | — | — | — | $30.00M | $300.00M | — |
| Long-term debt | $3.84B | $4.34B | $964.13M | $910.39M | — | -11.4% |
| Total debt | $3.84B | $4.34B | $964.13M | $910.39M | — | -11.4% |
| Total liabilities | $17.17B | $16.56B | $15.25B | $11.16B | — | +3.7% |
| Retained earnings | $1.49B | $1.33B | $1.06B | $832.87M | — | +11.7% |
| Shareholder equity | $2.28B | $2.24B | $1.70B | $1.46B | — | +1.7% |
| Net tangible assets | $2.06B | $2.05B | $1.53B | $1.30B | — | +0.5% |
| Shares issued | 45.89M | 45.77M | 43.24M | 43.11M | — | +0.3% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $218.77M | $320.39M | $279.23M | $219.72M | -31.7% |
| Depreciation & amortisation | $3.46M | $3.01M | $2.85M | $2.48M | +15.0% |
| Change in working capital | -$220.55M | -$351.37M | -$70.00K | $398.56M | +37.2% |
| Operating cash flow | -$341.25M | -$835.28M | -$356.40M | $975.77M | +59.1% |
| Capital expenditure | -$35.42M | -$18.39M | -$7.53M | -$8.82M | -92.6% |
| Investing cash flow | -$195.67M | -$874.27M | -$3.26B | -$2.86B | +77.6% |
| Share buybacks | $0 | -$177.04M | $0 | -$3.94M | +100.0% |
| Dividends paid | -$59.42M | -$51.17M | -$48.51M | -$38.07M | -16.1% |
| Financing cash flow | $272.51M | $1.60B | $3.97B | $1.08B | -83.0% |
| Free cash flow | -$376.67M | -$853.67M | -$363.93M | $966.96M | +55.9% |
| End cash position | $212.20M | $476.61M | $584.42M | $226.16M | -55.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $181.04M | $174.06M | $184.28M | $169.81M | $178.06M | +4.0% |
| Operating revenue | $181.04M | $174.06M | $184.28M | $169.81M | $178.06M | +4.0% |
| Selling, general & admin | $45.24M | $46.97M | $50.41M | $53.53M | $50.72M | -3.7% |
| Pre-tax income | $99.78M | $84.31M | $73.88M | $64.58M | $48.84M | +18.4% |
| Tax provision | $21.48M | $16.57M | $6.04M | $9.88M | $10.85M | +29.6% |
| Net income | $78.30M | $67.73M | $67.85M | $54.70M | $37.98M | +15.6% |
| Net income to common | $68.04M | $57.47M | $58.80M | $44.44M | $27.71M | +18.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $314.70M | $83.22M | $212.20M | $598.04M | $647.16M | +278.2% |
| Accounts receivable | $82.08M | $77.33M | $81.81M | $82.44M | $82.39M | +6.1% |
| Property, plant & equipment | $74.66M | $73.69M | $73.93M | $75.15M | $71.05M | +1.3% |
| Goodwill & intangibles | $244.96M | $237.59M | $225.53M | $221.17M | $201.05M | +3.1% |
| Total assets | $21.23B | $20.32B | $19.45B | $19.35B | $19.14B | +4.5% |
| Long-term debt | $4.28B | $4.63B | $3.84B | $2.90B | $3.83B | -7.6% |
| Total debt | $4.28B | $4.63B | $3.84B | $2.90B | $3.83B | -7.6% |
| Total liabilities | $18.84B | $17.99B | $17.17B | $17.13B | $16.96B | +4.7% |
| Retained earnings | $1.60B | $1.54B | $1.49B | $1.43B | $1.39B | +4.1% |
| Shareholder equity | $2.39B | $2.33B | $2.28B | $2.23B | $2.18B | +2.7% |
| Net tangible assets | $2.15B | $2.09B | $2.06B | $2.00B | $1.98B | +2.7% |
| Shares issued | 45.94M | 45.94M | 45.89M | 45.89M | 45.89M | +0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | $78.30M | $67.73M | $67.85M | $54.70M | $37.98M | +15.6% |
| Depreciation & amortisation | $1.40M | $1.37M | $1.16M | $765.00K | $770.00K | +1.9% |
| Change in working capital | $56.64M | $190.30M | -$223.78M | -$6.47M | -$24.36M | -70.2% |
| Operating cash flow | $213.31M | -$597.32M | -$397.90M | $29.77M | -$121.15M | +135.7% |
| Capital expenditure | -$2.44M | -$1.27M | -$5.36M | -$18.64M | -$4.57M | -92.0% |
| Investing cash flow | -$768.94M | -$335.26M | $12.69M | -$181.13M | -$26.33M | -129.4% |
| Share buybacks | $0 | -$3.00M | $0 | $0 | $0 | +100.0% |
| Dividends paid | -$15.32M | -$15.32M | -$14.86M | -$14.85M | -$14.85M | 0.0% |
| Financing cash flow | $787.11M | $803.59M | -$620.00K | $102.23M | $273.35M | -2.1% |
| Free cash flow | $210.87M | -$598.60M | -$403.25M | $11.13M | -$125.72M | +135.2% |
| End cash position | $314.70M | $83.22M | $212.20M | $598.04M | $647.16M | +278.2% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | — | — | $182.95M | +6.9% |
| Next quarter | — | — | $187.60M | +1.3% |
| Current year | — | — | $723.42M | +6.2% |
| Next year | — | — | $767.26M | +6.1% |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
ConsensusNONE
Strong buy / Buy— / —
Hold—
Sell / Strong sell— / —
Held by insiders0.00%
Held by institutions13.14%
Institutions holding7
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
25.58
-0.21% from price
SMA 20
25.56
-0.04% from price
SMA 50
25.44
+0.42% from price
SMA 100
25.42
+0.41% from price
SMA 200
25.30
+0.98% from price
EMA 12
25.57
-0.16% from price
EMA 26
25.54
-0.05% from price
EMA 50
25.50
+0.11% from price
RSI (14)
50.6
Neutral
MACD (12,26,9)
0.03
Hist -0.01
ATR (14)
0.10
0.39% of price
Realised vol 30D
4.3%
Annualised
Bollinger upper
25.70
20, 2σ
Bollinger lower
25.42
20, 2σ
50 / 200 cross
Golden
25.44 vs 25.30
Trend bias
Above 200
+0.98%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.11
Less volatile than market
Correlation to SPY
0.17
Largely independent
Realised vol 30D
4.3%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-5.8%
Peak to trough
Max drawdown 5Y
-24.7%
Peak to trough
ATR 14
0.10
0.39% of price
Beta (reported)
1.16
5Y monthly, from filing
Short interest
Shares short
9.08K
Prior 34.86K
Change vs prior
-74.0%
Shorts covering
% of float
—
—
% of shares out
—
Against total outstanding
Days to cover
1.0
Liquid
Float
25.37M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Dividends & splits
Forward rate$2.06 / yr
Forward yield8.07%
5-year avg yield—
Payout ratio—
Ex-dividend dateSep 15, 2026
Next pay dateJul 1, 2026
Last split—
Split date—
Headlines
Merchants Bancorp Declares Quarterly Common and Preferred Dividends
PR Newswire · 2d ago
3 Unpopular Stocks We’re Skeptical Of
StockStory · 5d ago
3 Small-Cap Stocks Walking a Fine Line
StockStory · 13d ago
Merchants Bancorp (MBIN) Is Up 15.71% in One Week: What You Should Know
Zacks · 17d ago
Community Bank Earnings Expose Diverging Multifamily Risks
CRE Daily · 17d ago
Earnings Estimates Rising for Merchants Bancorp (MBIN): Will It Gain?
Zacks · 19d ago
Merchants Bancorp Insider Sold Shares Worth $496,800, According to a Recent SEC Filing
MT Newswires · 22d ago
Merchants Bancorp (MBIN) Beat Expectations, Is The Stock Still Undervalued?
Simply Wall St. · 25d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.