Merchants Bancorp (MBIN) P/E Ratio History
Historical price-to-earnings valuation from 2017 to 2025
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MBIN Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Merchants Bancorp (MBIN) trades at a price-to-earnings ratio of 12.3x, with a stock price of $46.36 and trailing twelve-month earnings per share of $4.76.
The current P/E is 95% above its 5-year average of 6.3x. Over the past five years, MBIN's P/E has ranged from a low of 5.0x to a high of 9.0x, placing the current valuation at the 100th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.3x, MBIN is roughly in line with its sector peers. The sector includes 779 companies with P/E ratios ranging from 0.0x to 197.4x.
Relative to the broader market, MBIN trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our MBIN DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
MBIN P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $3B | 13.5 | 4.39 | +5% | |
| $3B | 12.5 | 1.42 | +22%Best | |
| $3B | 11.4 | 1.06 | +11% | |
| $690M | 10.3Lowest | 1.95 | +3% | |
| $2B | 13.4 | 1.91 | +13% | |
| $2B | 11.5 | 0.99Best | +16% | |
| $10B | 16.6 | 5.56 | +1% | |
| $5B | 13.3 | 4.36 | +4% | |
| $2B | 13.6 | 1.19 | +7% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
MBIN Historical P/E Data (2017–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $34.06 | $3.78 | 9.0x | +27% |
| FY2025 Q3 | $31.80 | $4.35 | 7.3x | +3% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $33.07 | $4.55 | 7.3x | +2% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $37.00 | $5.44 | 6.8x | -4% |
| FY2024 Q4 | $36.47 | $6.31 | 5.8x | -19% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $44.96 | $6.04 | 7.4x | +5% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $40.54 | $6.55 | 6.2x | -13% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $43.18 | $6.37 | 6.8x | -5% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $42.58 | $5.64 | 7.5x | +6% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $27.72 | $5.18 | 5.4x | -25% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $25.58 | $4.72 | 5.4x | -24% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $26.04 | $4.52 | 5.8x | -19% |
Average P/E for displayed period: 7.1x
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Start ComparisonMBIN — Frequently Asked Questions
Quick answers to the most common questions about buying MBIN stock.
Is MBIN stock overvalued or undervalued?
MBIN trades at 12.3x P/E, above its 5-year average of 6.3x. The 100th percentile ranking indicates a premium to historical valuation.
How does MBIN's valuation compare to peers?
Merchants Bancorp P/E of 12.3x compares to sector median of 13.3x. The discount suggests lower growth expectations or higher risk.
What is MBIN's PEG ratio?
MBIN PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2017-2025.