MBIN
Merchants Bancorp
NASDAQ · USFinancial ServicesBanks - Regional
$48.91-1.61%
Price as of Jul 20, 2026
MBIN financials
Merchants Bancorp financial statements
Annual and quarterly income statement, balance sheet and cash-flow history. On small screens, start with four periods and expand the table when needed.
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $1.4B | $1.4B | $1.2B | $602.1M |
| Cost of revenue | $801.5M | $804.4M | $670.0M | $179.6M |
| Gross profit | $563.7M | $642.7M | $519.1M | $422.5M |
| Operating expenses | $299.9M | $220.0M | $171.2M | $131.3M |
| Operating income | $263.8M | $422.6M | $347.9M | $291.1M |
| Net income | $218.8M | $320.4M | $279.2M | $219.7M |
| EBITDA | $267.3M | $425.7M | $350.8M | $293.6M |
| Basic EPS | $3.78 | $6.32 | $5.66 | $4.49 |
| Diluted EPS | $3.78 | $6.30 | $5.64 | $4.47 |
| Balance sheet | ||||
| Cash & equivalents | $15.8M | $476.6M | $584.4M | $226.2M |
| Total assets | $19.4B | $18.8B | $17.0B | $12.6B |
| Total liabilities | $17.2B | $16.6B | $15.3B | $11.2B |
| Stockholders’ equity | $2.3B | $2.2B | $1.7B | $1.5B |
| Total debt | $3.8B | $4.3B | $964.1M | $940.4M |
| Net debt | $3.8B | $3.9B | $379.7M | $714.2M |
| Cash flow | ||||
| Operating cash flow | -$149.4M | -$835.3M | -$356.4M | $975.8M |
| Capital expenditure | -$20.9M | -$18.4M | -$7.5M | -$8.8M |
| Free cash flow | -$170.3M | -$853.7M | -$363.9M | $967.0M |
| Dividends paid | -$59.4M | -$51.2M | -$48.5M | -$38.1M |
| Share repurchases | $0.00 | $0.00 | $0.00 | -$3.9M |