Last 40 quarters of trend data · Financial Services · Regional Banks
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 7.47 | 5.94 | 8.45 | 8.58 | 6.65 | 8.20 | 13.78 | 9.95 | 4.93 | 9.61 | 6.80 | 6.00 | 6.74 | 4.13 | 4.88 | 6.08 | 5.43 | 4.73 | 5.11 | 6.71 | 6.92 |
| — | -27.5% | -38.7% | -13.7% | +35.0% | -14.7% | +102.6% | +65.8% | -26.8% | +132.9% | +39.3% | -1.4% | +24.1% | -12.7% | -4.4% | -9.3% | -21.5% | -12.3% | -17.2% | +29.6% | +95.3% | |
| P/S Ratio | 3.29 | 2.50 | 4.21 | 2.82 | 2.11 | 2.15 | 2.13 | 2.93 | 2.17 | 3.48 | 2.86 | 2.81 | 2.92 | 1.97 | 2.06 | 2.47 | 2.24 | 2.20 | 2.23 | 2.99 | 3.07 |
| — | +16.5% | +97.5% | -3.8% | -2.6% | -38.1% | -25.4% | +4.2% | -25.8% | +76.4% | +38.9% | +13.8% | +30.4% | -10.5% | -7.8% | -17.6% | -26.9% | -17.0% | -24.9% | +12.2% | +68.1% | |
| P/B Ratio | 1.04 | 0.91 | 0.96 | 0.85 | 0.69 | 0.66 | 0.70 | 0.79 | 0.75 | 1.06 | 0.96 | 1.06 | 1.09 | 0.74 | 0.71 | 0.75 | 0.72 | 0.71 | 0.80 | 1.00 | 1.19 |
| — | +38.3% | +38.2% | +7.7% | -8.0% | -38.3% | -27.6% | -25.6% | -31.3% | +44.6% | +35.2% | +41.1% | +50.8% | +4.2% | -11.2% | -25.0% | -39.2% | -31.2% | -25.3% | -16.5% | +20.7% | |
| P/FCF | 60.52 | 0.91 | 1.45 | — | — | 32.82 | — | 3.01 | — | — | 9.88 | — | 0.65 | — | — | — | — | 0.26 | — | 0.23 | 1.01 |
| — | -97.2% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -77.6% | +68.4% | |
| EV / EBITDA | 11.06 | 4.12 | 16.45 | 19.67 | 17.97 | 14.40 | 23.72 | 16.76 | 10.76 | 15.31 | 6.08 | 6.86 | 5.56 | 5.22 | 6.04 | 6.05 | 5.85 | 2.47 | 7.45 | 6.14 | 5.15 |
| — | -71.4% | -30.7% | +17.4% | +67.0% | -5.9% | +289.9% | +144.4% | +93.4% | +193.6% | +0.8% | +13.3% | -4.9% | +111.0% | -19.0% | -1.4% | +13.6% | -31.7% | +45.6% | +39.9% | -10.1% | |
| EV / EBIT | 23.52 | 4.12 | 16.45 | 19.99 | 18.25 | 14.58 | 24.09 | 16.93 | 10.82 | 15.46 | 6.13 | 6.90 | 5.60 | 5.25 | 6.10 | 6.11 | 5.90 | 2.49 | 7.51 | 6.19 | 5.19 |
| — | -71.7% | -31.7% | +18.1% | +68.6% | -5.7% | +293.1% | +145.3% | +93.1% | +194.4% | +0.5% | +12.9% | -5.0% | +110.8% | -18.9% | -1.4% | +13.7% | -31.7% | +45.6% | +40.3% | -9.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.7% | 94.7% | 100.0% | 91.3% | 85.0% | 82.8% | 70.2% | 94.7% | 98.6% | 95.4% | 93.7% | 97.2% | 95.7% | 97.4% | 83.2% | 94.0% | 94.5% | 98.0% | 94.4% | 97.5% | 97.7% |
| — | +14.4% | +42.4% | -3.6% | -13.8% | -13.2% | -25.1% | -2.6% | +3.0% | -2.1% | +12.6% | +3.4% | +1.3% | -0.7% | -11.8% | -3.6% | -3.2% | -1.0% | -6.0% | -1.0% | +1.5% | |
| Operating Margin | 38.7% | 59.3% | 39.6% | 48.1% | 39.9% | 38.0% | 27.4% | 52.7% | 66.2% | 54.8% | 62.5% | 68.4% | 62.9% | 69.9% | 51.0% | 64.2% | 63.8% | 68.3% | 65.5% | 67.4% | 65.3% |
| — | +56.0% | +44.5% | -8.8% | -39.8% | -30.6% | -56.2% | -23.0% | +5.3% | -21.6% | +22.8% | +6.6% | -1.5% | +2.4% | -22.2% | -4.8% | -2.2% | -6.7% | -10.0% | -9.1% | -11.5% | |
| Net Margin | 32.1% | 46.8% | 57.3% | 38.6% | 36.6% | 32.2% | 21.3% | 40.1% | 49.6% | 41.3% | 48.2% | 52.1% | 49.0% | 53.5% | 48.5% | 48.1% | 48.7% | 51.6% | 49.0% | 50.6% | 49.5% |
| — | +45.2% | +168.9% | -3.7% | -26.1% | -22.0% | -55.7% | -23.0% | +1.1% | -22.8% | -0.6% | +8.3% | +0.6% | +3.6% | -1.0% | -4.8% | -1.6% | -5.3% | -9.1% | -7.5% | -9.7% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.7% | 4.3% | 3.3% | 2.9% | 3.0% | 2.5% | 1.7% | 2.6% | 4.6% | 3.2% | 4.2% | 5.0% | 4.6% | 5.1% | 4.3% | 3.7% | 4.0% | 4.4% | 4.5% | 4.3% | 4.9% |
| — | +73.9% | +89.6% | +11.1% | -34.2% | -22.5% | -58.1% | -47.2% | -1.6% | -37.3% | -2.1% | +35.1% | +16.8% | +15.3% | -4.6% | -13.4% | -18.3% | -17.9% | -10.2% | -37.1% | -36.1% | |
| ROA | 1.1% | 0.5% | 0.4% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.5% | 0.3% | 0.4% | 0.5% | 0.5% | 0.5% | 0.4% | 0.4% | 0.5% | 0.5% | 0.5% | 0.5% | 0.5% |
| — | +75.8% | +88.3% | +9.9% | -31.5% | -14.5% | -52.8% | -38.1% | +10.3% | -34.0% | -2.2% | +22.3% | -0.3% | -0.7% | -16.6% | -14.6% | -6.4% | -9.7% | -0.9% | -25.2% | -20.4% | |
| ROIC | 3.1% | 1.6% | 0.6% | 1.0% | 1.0% | 0.9% | 0.6% | 0.9% | 1.6% | 1.4% | 2.2% | 2.8% | 2.6% | 2.9% | 2.0% | 2.2% | 2.9% | 2.8% | 2.3% | 2.3% | 2.6% |
| — | +89.1% | -2.2% | +6.1% | -37.9% | -39.1% | -73.3% | -67.3% | -38.9% | -50.2% | +10.3% | +23.6% | -9.6% | +3.1% | -10.5% | -2.3% | +11.8% | -13.3% | -27.3% | -34.9% | -5.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.68 | 1.22 | 1.79 | 2.05 | 1.68 | 1.30 | 1.76 | 1.85 | 1.93 | 1.84 | 0.61 | 1.01 | 0.57 | 0.88 | 0.60 | 0.69 | 0.64 | 0.07 | 1.17 | 0.74 | 1.02 |
| — | -6.8% | +1.9% | +10.9% | -12.8% | -29.1% | +185.9% | +84.2% | +241.0% | +108.1% | +1.7% | +46.4% | -12.0% | +1184.3% | -48.5% | -7.3% | -36.6% | -90.6% | +77.1% | +37.3% | -33.4% | |
| Debt / EBITDA | 14.38 | 10.04 | 42.92 | 55.88 | 51.20 | 44.42 | 77.30 | 51.79 | 33.71 | 43.45 | 11.61 | 15.53 | 9.62 | 13.46 | 13.60 | 13.97 | 12.45 | 1.25 | 19.83 | 13.05 | 16.00 |
| — | -77.4% | -44.5% | +7.9% | +51.9% | +2.2% | +566.0% | +233.5% | +250.3% | +222.8% | -14.6% | +11.2% | -22.7% | +979.5% | -31.5% | +7.0% | -22.2% | -87.8% | +97.8% | +102.6% | +4.7% | |
| Current Ratio | 3.17 | 0.40 | 0.02 | 0.02 | 3.17 | 0.10 | 0.11 | 0.11 | 0.05 | 0.13 | 0.11 | 0.12 | 0.13 | 0.09 | 0.08 | 0.10 | 0.06 | 0.07 | 0.07 | 0.10 | 0.15 |
| — | +318.4% | -78.6% | -79.0% | +5707.0% | -25.0% | +0.3% | -11.3% | -57.1% | +49.2% | +31.7% | +21.3% | +112.2% | +28.4% | +12.1% | -2.1% | -59.3% | -47.1% | -18.6% | +51.6% | +131.5% | |
| Quick Ratio | 3.17 | 0.40 | 0.02 | 0.02 | 3.17 | 0.10 | 0.11 | 0.11 | 0.05 | 0.13 | 0.11 | 0.12 | 0.13 | 0.09 | 0.08 | 0.10 | 0.06 | 0.07 | 0.07 | 0.10 | 0.15 |
| — | +318.4% | -78.6% | -79.0% | +5707.0% | -25.0% | +0.3% | -11.3% | -57.1% | +49.2% | +31.7% | +21.3% | +112.2% | +28.4% | +12.1% | -2.1% | -59.3% | -47.1% | -18.6% | +51.6% | +131.5% | |
| Interest Coverage | 0.39 | 1.80 | 0.63 | 0.59 | 0.44 | 0.37 | 0.28 | 0.46 | 0.68 | 0.39 | 0.50 | 0.61 | 0.53 | 0.59 | 0.45 | 0.66 | 0.87 | 1.59 | 4.18 | 6.50 | 7.40 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 40 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying MBIN stock.
Merchants Bancorp's current P/E is 7.5x. The average P/E over the last 4 quarters is 7.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Merchants Bancorp's current operating margin is 38.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Merchants Bancorp's business trajectory between earnings reports.