Merchants Bancorp

Financial Services · Banks - Regional

52.20$ +1.7% vs. previous close Closing price · As of: Sep 24, 2026

Statements

Income Statement

Merchants Bancorp (MBIN) by the numbers: income statement, balance sheet and cash flow, by year or by quarter. In the most recent period (Q2 26), "Revenue" came in at 294 million USD. Tick rows to compare them in a chart.

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Amounts Change % Common size % Per share

Last 12 Full history

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All figures in millions of USD.

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Income Statement MBIN
Line item	Q3 16	Q4 16	Q1 17	Q2 17	Q3 17	Q4 17	Q1 18	Q2 18	Q3 18	Q4 18	Q1 19	Q2 19	Q3 19	Q4 19	Q1 20	Q2 20	Q3 20	Q4 20	Q1 21	Q2 21	Q3 21	Q4 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	LTM
Revenue	30	26	26	38	33	41	39	44	48	53	42	57	69	85	79	92	112	118	121	103	116	121	109	127	162	203	225	287	332	346	354	359	355	380	310	354	344	355	317	294	1,309
Cost of Revenue	5.1	5.7	5.7	7.0	8.2	9.4	10	13	15	17	16	21	28	28	25	19	14	13	9.2	7.7	9.5	12	13	23	51	92	117	175	183	194	192	210	213	189	173	229	203	197	157	158	715
Gross Profit	25	21	20	31	25	31	29	32	34	36	26	36	41	57	54	74	98	105	112	96	106	109	97	104	111	111	107	112	148	151	162	149	142	190	137	125	141	158	160	137	595
Research & Development	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, General & Administrative	4.1	4.5	4.2	5.4	5.6	7.3	6.7	7.5	8.1	11	8.8	10	10.0	12	16	14	18	17	22	20	21	26	22	23	24	24	24	30	31	37	35	34	44	44	44	3.2	54	46	2.8	73	175
Total Operating Expenses	6.0	6.2	5.8	7.2	7.8	9.8	9.3	11	11	15	12	15	14	18	21	18	23	25	28	26	28	36	30	32	34	36	34	43	42	52	48	49	60	62	61	76	76	84	76	82	318
Operating Income	19	14	15	24	17	22	20	21	22	21	14	22	27	39	33	55	75	80	84	69	79	73	67	72	77	75	73	69	107	99	114	99	81	128	76	49	65	74	84	54	277
Interest Expense	4.9	5.5	5.5	6.7	7.6	8.0	8.9	12	14	16	16	21	27	26	22	17	11	8.7	7.6	8.0	8.4	9.8	10	17	49	86	111	152	179	187	187	200	206	187	165	176	174	169	142	158	643
Pre-Tax Income	19	14	15	24	17	22	20	21	22	21	14	22	27	39	33	55	75	80	84	69	79	73	67	72	77	75	73	69	107	99	114	99	81	128	76	49	65	74	84	100	323
Income Tax Expense	7.6	5.7	5.6	9.1	6.4	1.3	4.7	5.2	5.6	5.7	3.5	5.3	6.5	9.4	8.4	14	20	21	22	18	20	18	17	18	19	18	18	3.3	25	22	27	23	20	32	18	11	9.9	6.0	17	21	54
Net Income	12	8.8	9.1	15	10	20	15	16	17	15	11	16	20	30	25	41	55	60	62	51	59	55	50	54	58	57	55	65	82	77	87	76	61	96	58	38	55	68	68	78	269
EBITDA	19	15	15	24	17	22	20	21	22	21	14	22	27	40	33	56	75	81	85	70	79	73	67	73	78	76	74	69	107	100	115	100	82	129	77	50	65	75	86	100	326

LTM = last twelve months (sum of the four most recent quarters).

Showing the most recent 40 periods — older statements are on file for this stock.

Data as of: September 24, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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