MBIN: Merchants Bancorp Financial Statements
Balance sheet, income statement, and cash flow statements for Merchants Bancorp (MBIN).
$1.67B Market Cap.
MBIN Market Cap. (MRY)
MBIN Shares Outstanding (MRY)
MBIN Assets (MRY)
Total Assets
$18.81B
Total Liabilities
$16.56B
Total Investments
$17.42B
MBIN Income (MRY)
Revenue
$646.45M
Net Income
$320.39M
Operating Expense
$223.81M
MBIN Cash Flow (MRY)
CF Operations
-$835.28M
CF Investing
-$874.27M
CF Financing
$1.60B
MBIN Balance Sheet (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total Assets | $18,805,732,000 (10.93%) | $16,952,516,000 (34.38%) | $12,615,227,000 (11.85%) | $11,278,638,000 (16.93%) |
Assets Current | - | - | - | - |
Assets Non-Current | - | - | - | - |
Goodwill & Intangible Assets | $197,949,000 (13.09%) | $175,044,000 (7.21%) | $163,279,000 (27.66%) | $127,900,000 (26.97%) |
Shareholders Equity | $2,243,310,000 (31.88%) | $1,701,084,000 (16.53%) | $1,459,739,000 (26.34%) | $1,155,409,000 (42.53%) |
Property Plant & Equipment Net | $58,617,000 (38.44%) | $42,342,000 (19.48%) | $35,438,000 (13.54%) | $31,212,000 (4.88%) |
Cash & Equivalents | $476,610,000 (-18.45%) | $584,422,000 (158.41%) | $226,164,000 (-78.10%) | $1,032,614,000 (474.54%) |
Accumulated Other Comprehensive Income | -$133,000 (94.65%) | -$2,488,000 (76.35%) | -$10,521,000 (-623.59%) | -$1,454,000 (-488.77%) |
Deferred Revenue | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Total Investments | $17,417,817,000 (10.57%) | $15,752,987,000 (31.53%) | $11,976,637,000 (20.13%) | $9,969,862,000 (7.62%) |
Investments Current | - | - | - | - |
Investments Non-Current | - | - | - | - |
Inventory | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Trade & Non-Trade Receivables | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Trade & Non-Trade Payables | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Accumulated Retained Earnings (Deficit) | $1,330,995,000 (25.14%) | $1,063,599,000 (27.70%) | $832,871,000 (26.74%) | $657,149,000 (42.32%) |
Tax Assets | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Tax Liabilities | $25,289,000 (26.93%) | $19,923,000 (1.58%) | $19,613,000 (2.31%) | $19,170,000 (-6.05%) |
Total Debt | $4,386,122,000 (354.93%) | $964,127,000 (3.63%) | $930,392,000 (-10.02%) | $1,033,954,000 (-23.31%) |
Debt Current | - | - | - | - |
Debt Non-Current | - | - | - | - |
Total Liabilities | $16,562,422,000 (8.60%) | $15,251,432,000 (36.72%) | $11,155,488,000 (10.20%) | $10,123,229,000 (14.58%) |
Liabilities Current | - | - | - | - |
Liabilities Non-Current | - | - | - | - |
MBIN Income Statement (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Revenues | $646,454,000 (23.72%) | $522,508,000 (22.31%) | $427,192,000 (-0.73%) | $430,315,000 (26.64%) |
Cost of Revenue | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Selling General & Administrative Expense | $139,714,000 (19.01%) | $117,401,000 (20.72%) | $97,254,000 (4.47%) | $93,092,000 (43.37%) |
Research & Development Expense | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Operating Expenses | $223,812,000 (28.18%) | $174,601,000 (28.34%) | $136,050,000 (8.51%) | $125,385,000 (30.04%) |
Interest Expense | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Income Tax Expense | $102,256,000 (48.90%) | $68,673,000 (-3.85%) | $71,421,000 (-8.23%) | $77,826,000 (23.88%) |
Net Loss Income from Discontinued Operations | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Consolidated Income | $320,386,000 (14.74%) | $279,234,000 (27.09%) | $219,721,000 (-3.25%) | $227,104,000 (25.80%) |
Net Income to Non-Controlling Interests | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Net Income | $320,386,000 (14.74%) | $279,234,000 (27.09%) | $219,721,000 (-3.25%) | $227,104,000 (25.80%) |
Preferred Dividends Income Statement Impact | $36,732,000 (5.95%) | $34,670,000 (33.43%) | $25,983,000 (24.48%) | $20,873,000 (44.22%) |
Net Income Common Stock | $283,654,000 (15.98%) | $244,564,000 (26.23%) | $193,738,000 (-6.06%) | $206,231,000 (24.19%) |
Weighted Average Shares | $44,855,100 (3.77%) | $43,224,042 (0.14%) | $43,164,477 (-0.02%) | $43,172,078 (0.14%) |
Weighted Average Shares Diluted | $45,004,786 (3.83%) | $43,345,799 (0.07%) | $43,316,904 (-0.02%) | $43,325,303 (0.37%) |
Earning Before Interest & Taxes (EBIT) | $422,642,000 (21.48%) | $347,907,000 (19.50%) | $291,142,000 (-4.52%) | $304,930,000 (25.30%) |
Gross Profit | $646,454,000 (23.72%) | $522,508,000 (22.31%) | $427,192,000 (-0.73%) | $430,315,000 (26.64%) |
Operating Income | $422,642,000 (21.48%) | $347,907,000 (19.50%) | $291,142,000 (-4.52%) | $304,930,000 (25.30%) |
MBIN Cash Flow Statement (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Net Cash Flow from Investing | -$874,275,000 (73.18%) | -$3,260,081,000 (-13.88%) | -$2,862,851,000 (-503.64%) | -$474,262,000 (81.27%) |
Net Cash Flow from Financing | $1,601,741,000 (-59.70%) | $3,974,741,000 (267.82%) | $1,080,627,000 (-21.49%) | $1,376,364,000 (-55.31%) |
Net Cash Flow from Operations | -$835,278,000 (-134.36%) | -$356,402,000 (-136.53%) | $975,774,000 (2082.64%) | -$49,216,000 (94.37%) |
Net Cash Flow / Change in Cash & Cash Equivalents | -$107,812,000 (-130.09%) | $358,258,000 (144.42%) | -$806,450,000 (-194.56%) | $852,886,000 (360.84%) |
Net Cash Flow - Business Acquisitions and Disposals | -$193,895,000 (-933.45%) | -$18,762,000 (-28.59%) | -$14,590,000 (-25.15%) | -$11,658,000 (-178.83%) |
Net Cash Flow - Investment Acquisitions and Disposals | -$672,228,000 (79.22%) | -$3,235,728,000 (-13.70%) | -$2,845,895,000 (-518.94%) | -$459,801,000 (81.79%) |
Capital Expenditure | -$18,391,000 (-144.30%) | -$7,528,000 (-11.34%) | -$6,761,000 (-85.49%) | -$3,645,000 (-0.61%) |
Issuance (Repayment) of Debt Securities | $3,421,197,000 (10225.96%) | $33,132,000 (131.99%) | -$103,562,000 (67.05%) | -$314,302,000 (-126.94%) |
Issuance (Purchase) of Equity Shares | $97,655,000 (0%) | $0 (0%) | -$3,935,000 (0%) | $0 (0%) |
Payment of Dividends & Other Cash Distributions | -$51,167,000 (-5.49%) | -$48,506,000 (-27.42%) | -$38,067,000 (-21.87%) | -$31,235,000 (-31.95%) |
Effect of Exchange Rate Changes on Cash | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Share Based Compensation | $0 (0%) | $0 (0%) | $0 (0%) | $0 (0%) |
Depreciation Amortization & Accretion | $3,014,000 (5.68%) | $2,852,000 (14.77%) | $2,485,000 (13.42%) | $2,191,000 (15.56%) |
MBIN Financial Metrics (MRY)
Metric | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Gross Margin | 100.00% (0.00%) | 100.00% (0.00%) | 100.00% (0.00%) | 100.00% (0.00%) |
Profit Margin | 43.90% (-6.20%) | 46.80% (3.08%) | 45.40% (-5.22%) | 47.90% (-2.04%) |
EBITDA Margin | 65.80% (-1.94%) | 67.10% (-2.33%) | 68.70% (-3.78%) | 71.40% (-1.11%) |
Return on Average Equity (ROAE) | 14.50% (-5.23%) | 15.30% (4.08%) | 14.70% (-22.63%) | 19.00% (-15.56%) |
Return on Average Assets (ROAA) | 1.50% (0.00%) | 1.50% (-11.76%) | 1.70% (-15.00%) | 2.00% (11.11%) |
Return on Sales (ROS) | 65.40% (-1.80%) | 66.60% (-2.35%) | 68.20% (-3.81%) | 70.90% (-0.98%) |
Return on Invested Capital (ROIC) | 2.10% (0.00%) | 2.10% (-16.00%) | 2.50% (-13.79%) | 2.90% (20.83%) |
Dividend Yield | 1.00% (25.00%) | 0.80% (-33.33%) | 1.20% (50.00%) | 0.80% (-33.33%) |
Price to Earnings Ratio (P/E) | 5.77 (-23.29%) | 7.52 (38.90%) | 5.42 (-17.95%) | 6.6 (37.98%) |
Price to Sales Ratio (P/S) | 2.53 (-28.14%) | 3.52 (43.35%) | 2.46 (-22.39%) | 3.17 (35.47%) |
Price to Book Ratio (P/B) | 0.74 (-31.24%) | 1.08 (50.70%) | 0.72 (-39.10%) | 1.18 (20.31%) |
Debt to Equity Ratio (D/E) | 7.38 (-17.66%) | 8.97 (17.33%) | 7.64 (-12.78%) | 8.76 (-19.61%) |
Earnings Per Share (EPS) | 6.32 (11.66%) | 5.66 (26.06%) | 4.49 (-6.07%) | 4.78 (24.16%) |
Sales Per Share (SPS) | 14.41 (19.23%) | 12.09 (22.14%) | 9.9 (-0.70%) | 9.97 (26.47%) |
Free Cash Flow Per Share (FCFPS) | -19.03 (-126.03%) | -8.42 (-137.51%) | 22.45 (1934.07%) | -1.22 (93.99%) |
Book Value Per Share (BVPS) | 50.01 (27.08%) | 39.35 (16.37%) | 33.82 (26.36%) | 26.76 (42.34%) |
Tangible Assets Book Value Per Share (TABVPS) | 414.84 (6.88%) | 388.15 (34.55%) | 288.48 (11.69%) | 258.29 (16.67%) |
Enterprise Value Over EBIT (EV/EBIT) | 11 (22.22%) | 9 (200.00%) | 3 (-25.00%) | 4 (-50.00%) |
Enterprise Value Over EBITDA (EV/EBITDA) | 10.89 (23.71%) | 8.8 (214.54%) | 2.8 (-37.20%) | 4.46 (-44.89%) |
Asset Turnover | 0.04 (6.06%) | 0.03 (-13.16%) | 0.04 (-7.32%) | 0.04 (10.81%) |
Current Ratio | - | - | - | - |
Dividends | $0.36 (12.50%) | $0.32 (14.29%) | $0.28 (16.67%) | $0.24 (12.68%) |
Free Cash Flow (FCF) | -$853,669,000 (-134.57%) | -$363,930,000 (-137.56%) | $969,013,000 (1933.13%) | -$52,861,000 (93.98%) |
Enterprise Value (EV) | $4,635,828,919 (50.12%) | $3,088,005,227 (275.79%) | $821,742,937 (-39.97%) | $1,368,971,751 (-30.97%) |
Earnings Before Tax (EBT) | $422,642,000 (21.48%) | $347,907,000 (19.50%) | $291,142,000 (-4.52%) | $304,930,000 (25.30%) |
Earnings Before Interest Taxes & Depreciation Amortization (EBITDA) | $425,656,000 (21.35%) | $350,759,000 (19.46%) | $293,627,000 (-4.39%) | $307,121,000 (25.23%) |
Invested Capital | $22,517,295,000 (31.24%) | $17,157,177,000 (30.41%) | $13,156,176,000 (17.97%) | $11,152,078,000 (4.10%) |
Working Capital | - | - | - | - |
Tangible Asset Value | $18,607,783,000 (10.91%) | $16,777,472,000 (34.74%) | $12,451,948,000 (11.67%) | $11,150,738,000 (16.83%) |
Market Capitalization | $1,669,013,919 (-9.35%) | $1,841,168,227 (75.61%) | $1,048,424,937 (-23.05%) | $1,362,411,751 (71.54%) |
Average Equity | $1,961,758,000 (22.61%) | $1,599,945,750 (20.99%) | $1,322,342,750 (22.00%) | $1,083,901,500 (47.02%) |
Average Assets | $18,373,426,500 (15.62%) | $15,890,897,500 (40.22%) | $11,332,649,000 (8.40%) | $10,454,365,750 (14.49%) |
Invested Capital Average | $20,391,286,000 (23.56%) | $16,503,777,750 (40.92%) | $11,711,860,500 (11.24%) | $10,528,382,750 (5.39%) |
Shares | 45,764,023 (5.84%) | 43,240,212 (0.30%) | 43,109,578 (-0.16%) | 43,178,061 (0.14%) |
