Merchants Bancorp (MBIN) Earnings History
Earnings Pressure11 years of earnings data (2015–2025) · 5-year EPS trend is negative
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Merchants Bancorp (MBIN) Earnings Overview
As of July 7, 2026, Merchants Bancorp (MBIN) reported trailing twelve-month net income of $228M, reflecting -40.0% year-over-year growth. The company earned $4.96 per diluted share over the past four quarters, with a net profit margin of 16.0%.
Looking at the long-term picture, MBIN's 5-year EPS compound annual growth rate (CAGR) stands at -0.4%, signaling declining earnings. The company achieved its highest annual net income of $320M in fiscal 2024.
Merchants Bancorp maintains industry-leading profitability with a gross margin of 41.3%, operating margin of 19.3%, and net margin of 16.0%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including WAFD ($252M net income, 16.0% margin), CUBI ($224M net income, 15.8% margin), FFBC ($279M net income, 20.3% margin), MBIN has room to improve margins relative to the peer group. Compare MBIN vs WAFD →
MBIN Earnings vs Peers
Earnings metrics vs comparable public companies
MBIN Historical Earnings Data (2015–2025)
11 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $219M | -31.7% | $264M | $3.78 | 16.0% | 19.3% |
| 2024 | $320M | +14.7% | $423M | $6.30 | 22.1% | 29.2% |
| 2023 | $279M | +27.1% | $348M | $5.64 | 23.5% | 29.3% |
| 2022 | $220M | -3.3% | $291M | $4.47 | 36.5% | 48.4% |
| 2021 | $227M | +25.8% | $305M | $4.76 | 49.2% | 66.1% |
| 2020 | $181M | +133.5% | $243M | $3.85 | 45.0% | 60.7% |
| 2019 | $77M | +23.0% | $102M | $1.58 | 30.4% | 40.1% |
| 2018 | $63M | +15.0% | $84M | $1.38 | 33.9% | 45.3% |
| 2017 | $55M | +65.1% | $77M | $1.52 | 39.6% | 55.9% |
| 2016 | $33M | +16.7% | $55M | $0.98 | 34.1% | 56.4% |
| 2015 | $28M | - | $47M | $0.90 | 35.2% | 58.5% |
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MBIN — Frequently Asked Questions
Quick answers to the most common questions about buying MBIN stock.
What is MBIN earnings per share (EPS)?
MBIN trailing twelve-month (TTM) diluted EPS is $4.96, reflecting -40.0% year-over-year growth. The 5-year EPS CAGR is -0.4%. Complete EPS history from 2015 to 2025 is available in the table on this page.
What is Merchants Bancorp's net income?
Merchants Bancorp (MBIN) trailing twelve-month net income is $228M as of 2025. Earnings declined -40.0% year-over-year. Merchants Bancorp has been profitable for 11 consecutive years.
Is MBIN profitable?
Yes, MBIN is profitable with a TTM net income of $228M and a net profit margin of +16.0%. Merchants Bancorp has generated profits for 11 consecutive years.
What is MBIN's earnings growth rate?
MBIN compound annual EPS growth rates (CAGR): 1-Year: -40.0%, 3-Year: -5.4%, 5-Year: -0.4%, 10-Year: +15.4%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2015 to 2025.
What are MBIN's profit margins?
Merchants Bancorp net profit margin is +16.0%, operating margin is +19.3%, and gross margin is +41.3%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +9.7%.
Is MBIN growing earnings?
MBIN earnings are declining — EPS fell -40.0% year-over-year. TTM net income dropped to $228M. This contrasts with the 5-year CAGR of -0.4%.
What was MBIN's best earnings year?
Merchants Bancorp's highest annual net income on record is $320M, achieved in fiscal year 2024. Earnings history on this page spans 2015 to 2025 and includes all annual and quarterly figures.
What were MBIN's earnings last quarter?
MBIN's most recent reported quarter was Q1 2026. Net income was $68M with diluted EPS of $1.25. For a full breakdown of all quarters, see the quarterly earnings table on this page.