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Merchants Bancorp

MBIN Financial Banks Regional

Merchants Bancorp’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, down 5.90% from fiscal 2024.

Revenue
+13.7%
EPS
+136.0%
Free cash flow
+267.7%
Total debt
+3.96%

Quarter to September 2026, against a year earlier

52.14 1.29 −2.41%
Market cap
$2.4B
P/E
8.3×
Fwd P/E
8.4×
Dividend yield
0.82%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Merchants Bancorp (MBIN) Book value per share

Alert me on Book value per share

Merchants Bancorp's book value per share at the end of fiscal 2025 was 49.7×, unchanged from fiscal 2024. At the end of the quarter to 30 September 2026 it was 54.1×. Over the past ten years it has ranged from 4.7× (fiscal 2015) to 50.0× (fiscal 2024); the current reading is higher than 91% of that period. Merchants Bancorp ranks 47th of 326 Banks Regional companies by book value per share.

Book value per share, annual

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Annual newest first

Period Book value per share Change
FY2025 49.7× (0.58%)
FY2024 50.0× 27.08%
FY2023 39.4× 16.37%
FY2022 33.8× 26.36%
FY2021 26.8× 42.34%
FY2020 18.8× 23.84%
FY2019 15.2× 55.13%
FY2018 9.8× (9.91%)
FY2017 10.9× 66.76%
FY2016 6.5× 38.96%

Quarterly newest first

Period Book value per share Change
Sep 2026 54.1× 3.73%
Jun 2026 52.1× 2.71%
Mar 2026 50.7× 2.04%
Dec 2025 49.7× 2.52%
37 more quarters

Against its own ten years

Low 4.7× High 50.0×
Ten-year median 18.8×
Current reading's percentile 91

Book value per share against peers

Company Book value per share
BANR Banner Corporation compare 61.2×
MBIN Merchants Bancorp 54.1×
EFSC Enterprise Financial Services Corporation compare 53.2×
SYBT Stock Yards Bancorp, Inc. compare 40.9×
WAFD WaFd, Inc. compare 40.5×
OFG OFG Bancorp compare 31.7×
BUSE First Busey Corporation compare 27.4×
BBAR BBVA Banco Frances S.A. compare 14.8×
NWBI Northwest Bancshares, Inc. compare 13.1×

What Book value per share is

BV per Share tells an investor how much of a company’s accounting net worth stands behind each share.

(Shareholders Equity (Total) ÷ Shares (Basic, Weighted))

The full definition of Book value per share →

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