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Friday 6 November 2026 Export MBIN’s income statement to Excel — free account

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

51.90 0.24 −0.46%
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) P/S ratio

Alert me on P/S ratio

As of 5 November 2026, Merchants Bancorp (MBIN) trades at a P/S ratio of 1.7×. Over the past ten years it has ranged from 1.0× (August 2025) to 5.3× (June 2018); the current reading is higher than 43% of that period. That is below the Banks Regional industry median of 2.4× and below the Financial sector median of 2.3×.

P/S ratio, daily

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Annual newest first

Period P/S ratio Change
FY2025 1.1× 1.50%
FY2024 1.1× (25.26%)
FY2023 1.5× (12.08%)
FY2022 1.7× (40.89%)
FY2021 2.9× 49.97%
FY2020 1.9× (11.36%)
FY2019 2.2× (27.51%)
FY2018 3.0× (4.94%)
FY2017 3.2× 31.10%
FY2016 2.4× 0.00%

Quarterly newest first

Period P/S ratio Change
Sep 2026 1.6× (5.36%)
Jun 2026 1.7× 17.83%
Mar 2026 1.4× 25.58%
Dec 2025 1.1× 9.09%
36 more quarters

Against its own ten years

Low 1.0× High 5.3×
Ten-year median 2.0×
Current reading's percentile 43

P/S ratio against peers

Company P/S ratio
BBAR BBVA Banco Frances S.A. compare 0.4×
WAFD WaFd, Inc. compare 1.5×
MBIN Merchants Bancorp 1.7×
BUSE First Busey Corporation compare 2.2×
EFSC Enterprise Financial Services Corporation compare 2.3×
NWBI Northwest Bancshares, Inc. compare 2.3×
OFG OFG Bancorp compare 2.3×
BANR Banner Corporation compare 2.8×
SYBT Stock Yards Bancorp, Inc. compare 4.1×
Banks Regional industry median 2.4×
Financial sector median 2.3×
Market median 1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

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