Lumida
/MBIN
⌘K
Merchants Bancorp

Merchants Bancorp

MBIN
$53.15USD+0.32%+0.17 today

MARKET CAP

2.4B

P/E (TTM)

14.1x

FWD P/E

DAY RANGE

$53 – $55

52W RANGE

$30
$57

AI Summary

Stalk
Sell NowMedium

MBIN has shifted into a Stage 3 distribution phase after its recent peak, with price forming lower highs and lower lows beneath declining short-term EMAs. Breakdown below the 20EMA and approaching the 50SMA on elevated volume confirms persistent supply dominance. Short-term momentum is negative—price is extended below key EMAs and RSI has trended downward—favoring immediate sell-side participation despite the longer-term uptrend.

  • Q2 net income $78.3M (+106% YoY) and EPS $1.48 beat forecasts.
  • Analysts raised FY26 EPS estimates from $5.21 to $5.58 on upgrades.
  • GF Value $42.68 vs market $54.28 implies ~27% overvaluation.
Full analysis →
STATEMENT·Income statement
USD · GAAP
METRICFY 2021FY 2022FY 2023FY 2024FY 2025TREND
Sales, Adj.$469.2M$606.8M$1.2B$1.5B$1.4B
YoY %+14.4%+29.3%+96.5%+21.7%-5.9%
P / Sales2.9x1.7x1.5x1.1x1.1x
EV / Sales24.5x20.1x14.3x12.5x13.7x
Gross Profit, Adj.$435.3M$444.5M$562.7M$670.7M$681.4M
YoY %+23.8%+2.1%+26.6%+19.2%+1.6%
Margin %92.8%73.3%47.2%46.2%49.9%
EV / Gross Profit26.4x27.4x30.3x27.1x27.5x
EBITDA, Adj.$304.9M$291.1M$347.9M$422.6M$263.8M
YoY %+25.3%-4.5%+19.5%+21.5%-37.6%
Margin %65.0%48.0%29.2%29.1%19.3%
EV / EBITDA37.6x41.8x49.0x43.0x71.0x
EBIT$304.9M$291.1M$347.9M$422.6M$263.8M
YoY %+25.3%-4.5%+19.5%+21.5%-37.6%
Margin %65.0%48.0%29.2%29.1%19.3%
EV / EBIT37.6x41.8x49.0x43.0x71.0x
Net Income$206.2M$193.7M$244.6M$283.7M$173.6M
YoY %+24.2%-6.1%+26.2%+16.0%-38.8%
Net Margin44.0%31.9%20.5%19.6%12.7%
EPS (GAAP)$4.76$4.47$5.64$6.30$3.78
YoY %+23.6%-6.1%+26.2%+11.7%-40.0%