Financial Snapshot

Revenue
$1.293B
TTM
Gross Margin
Net Earnings
$284.9M
TTM
Current Assets
Current Liabilities
$9.303M
Q3 2024
Current Ratio
Total Assets
$18.65B
Q3 2024
Total Liabilities
$16.71B
Q3 2024
Book Value
$1.939B
Q3 2024
Cash
Q3 2024
P/E
6.484
Nov 29, 2024 EST
Free Cash Flow
-$127.1M
TTM

Revenues

Revenues

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Revenue YoY Change

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Revenues

Concept 2023 2022 2021 2020 2019 2018 2017 2016 2015
Revenue $1.078B $480.8M $311.9M $282.8M $212.0M $140.6M
YoY Change 124.15% 54.17% 10.29% 33.39% 50.82%

Expenses

Cost Of Revenues

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Gross Profit

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Gross Profit Margin

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Gross Profit

Concept 2023 2022 2021 2020 2019 2018 2017 2016 2015
Revenue $1.078B $480.8M $311.9M $282.8M $212.0M $140.6M
Cost Of Revenue
Gross Profit
Gross Profit Margin

Selling, General & Admin Expense

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Research & Development

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Depreciation, Depletion & Amortization

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SGA Expense to Gross Profit Ratio

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R&D To Gross Profit Ratio

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DDA To Gross Profit Ratio

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Operating Expenses Total

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Operating Profits/Loss

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Operational Expenses

Concept 2023 2022 2021 2020 2019 2018 2017 2016 2015
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $6.515M $5.282M $4.200M $3.061M $2.623M $1.544M
YoY Change 23.34% 25.76% 37.21% 16.7% 69.88%
% of Gross Profit
Depreciation & Amortization $2.852M $2.485M $2.191M $1.896M $852.0K $461.0K $300.0K $300.0K $300.0K
YoY Change 14.77% 13.42% 15.56% 122.54% 84.82% 53.67% 0.0% 0.0%
% of Gross Profit
Operating Expenses $6.515M $5.282M $4.200M $3.061M $2.623M $1.544M
YoY Change 23.34% 25.76% 37.21% 16.7% 69.88%
Operating Profit
YoY Change

Interest Expenses

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Interest Expenses To Operating Income %

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Other Expense/Income

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Interest & Other Expense/Income

Concept 2023 2022 2021 2020 2019 2018 2017 2016 2015
Interest Expense $629.7M $162.3M $33.89M $58.64M $89.70M $50.59M
YoY Change 288.04% 378.82% -42.21% -34.62% 77.29%
% of Operating Profit
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

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Income Tax

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Net Profits/Loss

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Pretax Income YoY Change

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Income Tax Rate

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Net Profits/Loss YoY Change

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Basic EPS

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Net Income To Revenue Ratio

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Pretax & Net Income

Concept 2023 2022 2021 2020 2019 2018 2017 2016 2015
Pretax Income $347.9M $291.1M $304.9M $243.4M $102.1M $84.03M $77.20M $54.80M $47.20M
YoY Change 19.5% -4.52% 25.3% 138.27% 21.55% 8.84% 40.88% 16.1% 39.23%
Income Tax $68.67M $71.42M $77.83M $62.82M $24.81M $21.15M $29.40M $21.70M $18.80M
% Of Pretax Income 19.74% 24.53% 25.52% 25.82% 24.29% 25.17% 38.08% 39.6% 39.83%
Net Earnings $244.6M $219.7M $227.1M $180.5M $77.33M $62.87M $54.70M $33.10M $28.40M
YoY Change 11.31% -3.25% 25.8% 133.46% 22.99% 14.94% 65.26% 16.55% 647.37%
Net Earnings / Revenue 22.69% 45.7% 72.82% 63.84% 36.48% 44.73%
Basic Earnings Per Share $5.66 $4.49 $4.78 $3.85 $1.58 $2.08
Diluted Earnings Per Share $5.64 $4.47 $4.76 $3.85 $1.58 $2.07 $2.420M $1.221M $1.048M

Assets & Liabilities

Cash & Short-Term Investments

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Cash & Equivalents

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Cash To Operating Expenses Ratio

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Inventory

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Receivables

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Total Short-Term Assets

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Property, Plant And Equipment

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Long-Term Investments

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Total Long-Term Assets

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Total Assets

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Net Income To Total Assets Percentage

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Accounts Payable

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Short-Term Debt

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Long Term Debt Due

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Total Short-Term Liabilities

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Long-Term Debt

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Other Long-Term Liabilities

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Total Long-Term Liabilities

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Total Liabilities

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Short-Term To Long-Term Debt Ratio

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Short-Term Assets To Debt Ratio

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Long-Term Debt To Net Income Ratio

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Assets & Liabilities

Concept 2023 2022 2021 2020 2019 2018 2017 2016 2015
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
Property, Plant & Equipment $42.34M $35.44M $31.00M $30.00M $29.00M $15.00M $5.000M $5.000M $4.000M
YoY Change 19.48% 14.32% 3.33% 3.45% 93.33% 200.0% 0.0% 25.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $15.00M $17.00M $16.00M $13.00M $2.000M
YoY Change -11.76% 6.25% 23.08% 550.0%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
Total Assets $16.95B $12.62B $11.28B $9.645B $6.372B $3.884B $3.393B $2.719B $2.269B
YoY Change
Accounts Payable $2.000M $2.000M
YoY Change 0.0%
Accrued Expenses $11.25M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $17.00M $77.00M $19.00M $44.00M $55.00M $55.00M $55.00M
YoY Change -77.92% 305.26% -56.82% -20.0% 0.0% 0.0%
Long-Term Debt Due $50.00M
YoY Change
Total Short-Term Liabilities $11.25M $50.00M $17.00M $77.00M $19.00M $44.00M $55.00M $2.000M $2.000M
YoY Change -77.5% 194.12% -77.92% 305.26% -56.82% -20.0% 2650.0% 0.0%
Long-Term Debt $964.1M $21.00M $460.0M $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
YoY Change 4491.08% -95.43%
Other Long-Term Liabilities $205.9M $134.1M $87.00M $58.00M $42.00M $21.00M $13.00M $7.000M $4.000M
YoY Change 53.52% 54.18% 50.0% 38.1% 100.0% 61.54% 85.71% 75.0%
Total Long-Term Liabilities $1.170B $155.1M $547.0M $58.00M $42.00M $21.00M $13.00M $7.000M $4.000M
YoY Change 654.2% -71.64% 843.1% 38.1% 100.0% 61.54% 85.71% 75.0%
Total Liabilities $15.25B $11.16B $10.12B $8.835B $5.718B $3.463B $3.026B $2.512B $2.121B
YoY Change 36.72% 10.2% 14.58% 54.51% 65.12% 14.44% 20.46% 18.43%

Ownership

Basic Shares Outstanding

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Diluted Shares Outstanding

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Preferred Stock

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Treasury Stock Shares

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Stock Issuance & Repurchase

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Ownership Data

Concept 2023 2022 2021 2020 2019 2018 2017 2016 2015
Basic Shares Outstanding 43.22M 43.16M 43.17M 43.11M 43.06M 28.69M 22.55M
Diluted Shares Outstanding 43.35M 43.32M 43.33M 43.17M 43.12M 28.72M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

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Book Value

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Free Cash Flow

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Free Cash Flow YoY

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Free Cash Flow Margin

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Dividends

Dividends

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Stock Price

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Market Cap: $1.847 Billion

About Merchants Bancorp

Merchants Bancorp is a bank holding company, which specializes in multiple lines of business in banking and finance. The company is headquartered in Carmel, Indiana and currently employs 618 full-time employees. The company went IPO on 2017-10-26. The firm conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana. The firm's segments include Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing (through this segment it also serves as a syndicator of low-income housing tax credit and debt funds); Mortgage Warehousing that offers mortgage warehouse financing, commercial loans, and deposit services, and Banking that offers portfolio lending for multi-family and healthcare facility loans, retail and correspondent residential mortgage banking, agricultural lending, Small Business Administration (SBA) lending, and traditional community banking.

Industry: State Commercial Banks Peers: Capitol Federal Financial, Inc. FEDERAL AGRICULTURAL MORTGAGE CORP FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE FLAGSTAR BANCORP INC Kearny Financial Corp. Northfield Bancorp, Inc. NMI Holdings, Inc. PROVIDENT FINANCIAL SERVICES INC Rocket Companies, Inc. TRUSTCO BANK CORP N Y