Latest Ratios: P/E Ratio 10.4x · EV/EBITDA 12.8x · ROE 11.8%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $233M | $203M | $154M | $158M | $185M | $228M | $129M | $130M | $110M | $75M | — |
| Enterprise Value | $365M | $334M | $301M | $293M | $309M | $287M | $351M | $279M | $217M | $172M | — |
| P/E Ratio → | 10.38 | 9.30 | 9.46 | 11.98 | 8.46 | 6.41 | 4.86 | 12.32 | 13.42 | 39.96 | — |
| P/S Ratio | 1.14 | 0.99 | 0.78 | 0.94 | 1.42 | 1.43 | 0.86 | 1.52 | 1.50 | 1.10 | — |
| P/B Ratio | 1.13 | 1.02 | 0.90 | 1.00 | 1.21 | 1.38 | 0.91 | 1.08 | 1.01 | 0.74 | — |
| P/FCF | 10.34 | 8.99 | 17.07 | 9.29 | 2.26 | 1.43 | — | 6.25 | 11.76 | 9.34 | — |
| P/OCF | 9.60 | 8.35 | 16.06 | 8.39 | 2.18 | 1.38 | — | 6.03 | 10.01 | 7.19 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.63 | 1.52 | 1.74 | 2.37 | 1.80 | 2.35 | 3.25 | 2.94 | 2.52 | — |
| EV / EBITDA | 12.79 | 11.72 | 12.49 | 15.09 | 10.65 | 6.91 | 10.82 | 19.38 | 18.22 | 25.54 | — |
| EV / EBIT | 12.84 | 11.77 | 13.81 | 17.29 | 11.06 | 6.19 | 10.17 | 20.62 | 20.69 | 29.79 | — |
| EV / FCF | — | 14.81 | 33.33 | 17.22 | 3.78 | 1.79 | — | 13.38 | 23.11 | 21.36 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.4% | 54.4% | 51.1% | 55.8% | 83.8% | 94.1% | 85.3% | 79.7% | 82.4% | 86.9% | 90.5% |
| Operating Margin | 13.8% | 13.8% | 11.0% | 10.1% | 21.4% | 29.0% | 23.1% | 15.8% | 14.2% | 8.5% | 11.2% |
| Net Profit Margin | 10.6% | 10.6% | 8.3% | 7.9% | 16.7% | 22.3% | 17.7% | 12.2% | 11.1% | 4.4% | 7.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.8% | 11.8% | 9.9% | 8.5% | 13.7% | 23.2% | 20.2% | 9.1% | 7.7% | 3.5% | 8.0% |
| ROA | 0.9% | 0.9% | 0.7% | 0.6% | 1.2% | 2.1% | 1.8% | 1.0% | 0.9% | 0.4% | 0.7% |
| ROIC | 6.0% | 6.0% | 4.7% | 3.8% | 7.4% | 10.8% | 7.5% | 3.8% | 3.4% | 2.0% | 3.1% |
| ROCE | 10.7% | 10.7% | 8.4% | 6.8% | 12.4% | 19.0% | 16.0% | 9.1% | 8.5% | 5.5% | 9.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.84 | 0.84 | 1.02 | 1.21 | 1.06 | 0.49 | 1.81 | 1.39 | 1.18 | 1.20 | 1.88 |
| Debt / EBITDA | 5.86 | 5.86 | 7.23 | 9.86 | 5.60 | 1.97 | 7.91 | 11.67 | 10.89 | 18.07 | 14.15 |
| Net Debt / Equity | — | 0.66 | 0.86 | 0.85 | 0.81 | 0.35 | 1.57 | 1.23 | 0.97 | 0.96 | 1.62 |
| Net Debt / EBITDA | 4.61 | 4.61 | 6.09 | 6.94 | 4.28 | 1.41 | 6.85 | 10.34 | 8.95 | 14.38 | 12.17 |
| Debt / FCF | — | 5.82 | 16.25 | 7.93 | 1.52 | 0.37 | — | 7.14 | 11.35 | 12.02 | 2.33 |
| Interest Coverage | 0.36 | 0.36 | 0.26 | 0.25 | 1.50 | 5.50 | 2.53 | 0.82 | 0.92 | 0.85 | 1.45 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.06 | 0.06 | 0.09 | 0.17 | 0.17 | 0.19 | 0.13 | 0.08 | 0.09 | 0.09 | 0.09 |
| Quick Ratio | 0.06 | 0.06 | 0.09 | 0.17 | 0.17 | 0.19 | 0.13 | 0.08 | 0.09 | 0.09 | 0.09 |
| Cash Ratio | 0.02 | 0.02 | 0.01 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 |
| Asset Turnover | — | 0.08 | 0.08 | 0.08 | 0.06 | 0.09 | 0.09 | 0.07 | 0.07 | 0.08 | 0.09 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 2.8% | 3.6% | 3.5% | 5.9% | 4.2% | 1.2% | — | — | 1.5% | — |
| Payout Ratio | 26.0% | 26.0% | 34.3% | 42.4% | 50.1% | 27.2% | 5.8% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.6% | 10.8% | 10.6% | 8.3% | 11.8% | 15.6% | 20.6% | 8.1% | 7.5% | 2.5% | — |
| FCF Yield | 9.7% | 11.1% | 5.9% | 10.8% | 44.2% | 70.0% | — | 16.0% | 8.5% | 10.7% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 2.7% | 7.0% | 1.3% | 4.4% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 2.5% | 2.8% | 3.6% | 6.2% | 12.9% | 5.6% | 5.6% | 0.0% | 0.0% | 1.5% | — |
| Shares Outstanding | — | $12M | $11M | $11M | $12M | $12M | $12M | $13M | $13M | $8M | $5M |
Mortgage and CRE concentration
With a P/B ratio of 1.15, Meridian Corporation trades at a discount to regional peers, suggesting that investors are pricing in the inherent volatility of its mortgage-heavy revenue stream rather than rewarding the bank's expansion of its commercial loan portfolio over the last ten quarters.
The current valuation appears to reflect market skepticism regarding the sustainability of earnings given the bank's reliance on non-interest income. Investors should monitor whether the shift toward commercial and leasing activities can drive a re-rating, as the current multiple implies a lower return on tangible equity than the bank's regional peers.
According to the reported financial data, Meridian's ROE has struggled to exceed 3.7% in any quarter since 2023Q4, indicating that the bank's profitability is currently constrained by a combination of compressed net interest margins and inconsistent non-interest income contributions from its mortgage origination segment.
The DuPont analysis suggests that the bank's profitability is hampered by low asset utilization and a reliance on volatile fee income. The lack of consistent ROE expansion warrants further investigation into whether the current cost structure is too rigid to support the bank's specialized lending model during periods of mortgage market contraction.
As reported in the quarterly financial statements, Meridian's net interest margin has remained stagnant between 0.7% and 0.9% over the last ten quarters, while the efficiency ratio deteriorated to 50.6% in 2026Q1, signaling that rising operating costs are outpacing the bank's ability to generate interest income.
The persistent margin compression suggests that funding costs are effectively neutralizing the benefits of commercial loan growth. Investors should monitor the efficiency ratio closely, as the bank's lean branch model may be losing its competitive cost advantage if specialized personnel expenses continue to rise without a commensurate increase in loan volume.
Based on the reported figures, Meridian has maintained a consistent equity-to-assets ratio of approximately 7% to 8% throughout the observed period, providing a stable capital base that appears adequate for its current risk profile despite the volatility in its mortgage-related assets.
The bank's capital position appears sufficient to absorb moderate credit shocks, though the reliance on retained earnings for capital growth may limit aggressive expansion. The stability of this ratio suggests a management preference for organic growth, which may be a prudent strategy given the concentration risks in the Philadelphia-area construction and land development portfolio.
The most commonly misapplied metric for Meridian is the P/E ratio, which obscures the bank's true earnings power by failing to account for the non-cash fair value adjustments of mortgage servicing rights and the lumpy nature of title and land settlement service revenues.
Using P/E as a primary valuation tool for this bank is misleading because it treats volatile, non-core income as recurring earnings. Analysts should instead focus on pre-provision net revenue (PPNR) and tangible book value (P/TBV) to better normalize the bank's performance across different interest rate cycles.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying MRBK stock.
Meridian Corporation's current P/E ratio is 10.4x. The historical average is 12.9x. This places it at the 56th percentile of its historical range.
Meridian Corporation's current EV/EBITDA is 12.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.5x.
Meridian Corporation's return on equity (ROE) is 11.8%. The historical average is 11.5%.
Based on historical data, Meridian Corporation is trading at a P/E of 10.4x. This is at the 56th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Meridian Corporation's current dividend yield is 2.51% with a payout ratio of 26.0%.
Meridian Corporation has 54.4% gross margin and 13.8% operating margin. Operating margin between 10-20% is typical for established companies.
Meridian Corporation's Debt/EBITDA ratio is 5.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.