MBIN PEER ANALYSIS

Merchants Bancorp — metric-by-metric comparison with peers and the industry median

MBINMerchants Bancorp

🇺🇸 USA · NASDAQ · Financial Services · Banks - Regional

Value it Duel

Overall Profile & Returns

· Banks - Regional

Position Within Industry

0 = weak quartile, 100 = strong quartile

MBINIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	MBIN	KLNMA	BFL	BOQ	EQB	LB	Ind. Median
P/E	9.65	10.20	3.26●	40.81	25.58	116.67	12.96
P/B	0.95	2.79	0.74	0.69	1.53	0.68●	1.29
EV/EBITDA	25.29	7.18	-1.43●	67.01	54.45	306.42	9.32
P/S	—	—	—	—	—	—	—

Financial Health
Metric	MBIN	KLNMA	BFL	BOQ	EQB	LB	Ind. Median
Current Ratio	0.02	—	33.68●	0.05	0.09	0.01	0.31
Debt/Equity	205.5%	0.0%●	9.1%	258.4%	496.5%	744.5%	38.0%
NetDebt/EBITDA	17.30	-0.00	-3.30●	49.89	40.36	280.57	-0.58

Profitability
Metric	MBIN	KLNMA	BFL	BOQ	EQB	LB	Ind. Median
Net Margin	16.7%	58.1%●	30.2%	2.0%	6.6%	1.4%	20.6%
ROE	10.2%	34.1%●	24.2%	1.6%	6.1%	1.0%	10.9%
ROA	1.2%	5.4%●	2.9%	0.1%	0.4%	0.1%	1.2%
EBITDA Margin	—	—	—	—	—	—	20.4%

Growth + Dividend
Metric	MBIN	KLNMA	BFL	BOQ	EQB	LB	Ind. Median
Rev. Growth	—	—	—	—	—	—	—
NI Growth	-21.7%	42.3%●	—	-67.9%	-49.0%	-80.9%	19.4%
Div. Yield	0.8%	—	22.5%●	6.5%	1.6%	4.7%	2.5%
Payout	26.2%	—	68.7%	256.1%	43.2%	335.1%	31.4%

Valuation
Metric	MBIN	NWBI	BANR	SYBT	CLBK	OFG	Ind. Median
P/E	9.65●	16.67	11.30	16.01	38.81	10.00	12.96
P/B	0.95●	1.17	1.18	2.08	1.85	1.56	1.29
EV/EBITDA	25.29	0.77●	8.98	10.97	39.38	6.92	9.32
P/S	—	—	—	—	—	—	—

Financial Health
Metric	MBIN	NWBI	BANR	SYBT	CLBK	OFG	Ind. Median
Current Ratio	0.02	0.19	2.11	0.08	2,312.41●	8.02	0.31
Debt/Equity	205.5%	31.3%	11.6%●	38.2%	105.9%	42.3%	38.0%
NetDebt/EBITDA	17.30	-11.93●	0.19	-0.97	12.13	-0.19	-0.58

Profitability
Metric	MBIN	NWBI	BANR	SYBT	CLBK	OFG	Ind. Median
Net Margin	16.7%	14.7%	24.8%	25.1%●	11.0%	24.2%	20.6%
ROE	10.2%	7.5%	10.8%	13.8%	4.9%	16.0%●	10.9%
ROA	1.2%	0.8%	1.3%	1.6%	0.5%	1.8%●	1.2%
EBITDA Margin	—	—	—	—	—	—	20.4%

Growth + Dividend
Metric	MBIN	NWBI	BANR	SYBT	CLBK	OFG	Ind. Median
Rev. Growth	—	—	—	—	—	—	—
NI Growth	-21.7%	16.2%	16.1%	17.7%●	—	10.0%	19.4%
Div. Yield	0.8%	5.2%●	2.9%	1.6%	—	2.5%	2.5%
Payout	26.2%	85.5%	33.2%	26.1%	—	25.1%	31.4%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.