What is Merchants Banc's earnings per share (EPS)?

Merchants Banc (MBINM) reported diluted earnings per share of $3.78 for fiscal year 2025. This represents a -40.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Merchants Banc Financials

MBINM

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Merchants Banc (MBINM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 13/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Merchants Banc's revenue declined 7.8% year-over-year, from $1.3B to $1.2B. This contraction results in a growth score of 20/100.

Leverage

Merchants Banc has elevated debt relative to equity (D/E of 7.53), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Cash Flow

While Merchants Banc generated -$341.2M in operating cash flow, capex of $20.9M consumed most of it, leaving -$362.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Merchants Banc's ROE of 9.6% shows moderate profitability relative to equity, earning a score of 32/100. This is down from 14.3% the prior year.

Piotroski F-Score Weak

1/9

Merchants Banc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

-1.56x

For every $1 of reported earnings, Merchants Banc generates $-1.56 in operating cash flow (-$341.2M OCF vs $218.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.2B

YoY-7.8%

5Y CAGR+33.5%

10Y CAGR+35.8%

Merchants Banc generated $1.2B in revenue in fiscal year 2025. This represents a decrease of 7.8% from the prior year.

EBITDA

N/A

Net Income

$218.8M

YoY-31.7%

5Y CAGR+3.9%

10Y CAGR+22.7%

Merchants Banc reported $218.8M in net income in fiscal year 2025. This represents a decrease of 31.7% from the prior year.

EPS (Diluted)

$3.78

YoY-40.0%

5Y CAGR-0.4%

10Y CAGR+10.8%

Merchants Banc earned $3.78 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 40.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$362.2M

YoY+57.6%

Merchants Banc generated -$362.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 57.6% from the prior year.

Cash & Debt

$212.2M

YoY-55.5%

5Y CAGR+3.4%

10Y CAGR-7.2%

Merchants Banc held $212.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.40

YoY+11.1%

5Y CAGR+13.8%

10Y CAGR+7.2%

Merchants Banc paid $0.40 per share in dividends in fiscal year 2025. This represents an increase of 11.1% from the prior year.

Shares Outstanding

46M

YoY+0.3%

5Y CAGR+1.3%

Merchants Banc had 46M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

18.2%

YoY-6.4pp

5Y CAGR-45.6pp

10Y CAGR-32.1pp

Merchants Banc's net profit margin was 18.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.4 percentage points from the prior year.

Return on Equity

9.6%

YoY-4.7pp

5Y CAGR-12.7pp

10Y CAGR-9.6pp

Merchants Banc's ROE was 9.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$20.9M

YoY+13.9%

5Y CAGR+42.0%

10Y CAGR+51.8%

Merchants Banc invested $20.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 13.9% from the prior year.

MBINM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2B-7.8%	$1.3B+20.9%	$1.1B+124.2%	$480.8M+54.2%	$311.9M+10.3%	$282.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$683.8M-12.3%	$780.1M+23.9%	$629.7M+288.0%	$162.3M+378.8%	$33.9M-42.2%	$58.6M
Income Tax	$45.0M-56.0%	$102.3M+48.9%	$68.7M-3.8%	$71.4M-8.2%	$77.8M+23.9%	$62.8M
Net Income	$218.8M-31.7%	$320.4M+14.7%	$279.2M+27.1%	$219.7M-3.3%	$227.1M+25.8%	$180.5M
EPS (Diluted)	$3.78-40.0%	$6.30+11.7%	$5.64+26.2%	$4.47-6.1%	$4.76+23.6%	$3.85

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$307.5M+1.9%	$301.8M-0.9%	$304.4M+6.0%	$287.2M-10.6%	$321.3M-5.2%	$338.9M+3.2%	$328.3M+4.5%	$314.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$169.4M-2.5%	$173.7M-1.1%	$175.7M+6.5%	$165.0M-11.6%	$186.7M-9.4%	$206.1M+3.0%	$200.2M+7.0%	$187.1M
Income Tax	$6.0M-38.9%	$9.9M-9.0%	$10.9M-40.6%	$18.3M-43.3%	$32.2M+60.5%	$20.1M-11.7%	$22.7M-16.5%	$27.2M
Net Income	$67.8M+24.0%	$54.7M+44.0%	$38.0M-34.8%	$58.2M-39.1%	$95.7M+56.1%	$61.3M-19.8%	$76.4M-12.2%	$87.1M
EPS (Diluted)	N/A	$0.97+61.7%	$0.60-35.5%	$0.93	N/A	$1.17-21.5%	$1.49-17.2%	$1.80

MBINM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$19.4B+3.4%	$18.8B+10.9%	$17.0B+34.4%	$12.6B+11.9%	$11.3B+16.9%	$9.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$212.2M-55.5%	$476.6M-18.4%	$584.4M+158.4%	$226.2M-78.1%	$1.0B+474.5%	$179.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$8.0M0.0%	$8.0M-49.4%	$15.8M0.0%	$15.8M0.0%	$15.8M0.0%	$15.8M
Total Liabilities	$17.2B+3.7%	$16.6B+8.6%	$15.3B+36.7%	$11.2B+10.2%	$10.1B+14.6%	$8.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	$1.0B-23.3%	$1.3B
Total Equity	$2.3B+1.7%	$2.2B+31.9%	$1.7B+16.5%	$1.5B+26.3%	$1.2B+42.5%	$810.6M
Retained Earnings	$1.5B+11.7%	$1.3B+25.1%	$1.1B+27.7%	$832.9M+26.7%	$657.1M+42.3%	$461.7M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$19.4B+0.5%	$19.4B+1.1%	$19.1B+1.8%	$18.8B0.0%	$18.8B+0.8%	$18.7B+2.4%	$18.2B+2.2%	$17.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$212.2M-64.5%	$598.0M-7.6%	$647.2M+24.1%	$521.3M+9.4%	$476.6M-20.8%	$601.9M+11.3%	$540.9M+6.3%	$508.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M0.0%	$8.0M
Total Liabilities	$17.2B+0.2%	$17.1B+1.0%	$17.0B+1.9%	$16.6B+0.5%	$16.6B-0.9%	$16.7B+2.4%	$16.3B+1.7%	$16.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.3B+2.5%	$2.2B+1.9%	$2.2B+1.1%	$2.2B-3.7%	$2.2B+15.7%	$1.9B+2.7%	$1.9B+6.3%	$1.8B
Retained Earnings	$1.5B+3.8%	$1.4B+2.9%	$1.4B+1.7%	$1.4B+2.9%	$1.3B+6.5%	$1.3B+4.1%	$1.2B+5.5%	$1.1B

MBINM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$341.2M+59.1%	-$835.3M-134.4%	-$356.4M-136.5%	$975.8M+2082.6%	-$49.2M+94.4%	-$874.9M
Capital Expenditures	$20.9M+13.9%	$18.4M+144.3%	$7.5M+11.3%	$6.8M+85.5%	$3.6M+0.6%	$3.6M
Free Cash Flow	-$362.2M+57.6%	-$853.7M-134.6%	-$363.9M-137.6%	$969.0M+1933.1%	-$52.9M+94.0%	-$878.5M
Investing Cash Flow	-$195.7M+77.6%	-$874.3M+73.2%	-$3.3B-13.9%	-$2.9B-503.6%	-$474.3M+81.3%	-$2.5B
Financing Cash Flow	$272.5M-83.0%	$1.6B-59.7%	$4.0B+267.8%	$1.1B-21.5%	$1.4B-55.3%	$3.1B
Dividends Paid	$59.4M+16.1%	$51.2M+5.5%	$48.5M+27.4%	$38.1M+21.9%	$31.2M+32.0%	$23.7M
Share Buybacks	N/A	N/A	N/A	$3.9M	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$397.9M-1436.8%	$29.8M+124.6%	-$121.2M-181.8%	$148.0M+1583.8%	-$10.0M+98.0%	-$492.6M-1063.7%	$51.1M+113.3%	-$383.8M
Capital Expenditures	$3.8M-34.2%	$5.8M+28.5%	$4.5M-34.4%	$6.9M+9.3%	$6.3M+38.6%	$4.5M-14.3%	$5.3M+129.1%	$2.3M
Free Cash Flow	-$401.7M-1774.9%	$24.0M+119.1%	-$125.7M-189.0%	$141.2M+968.7%	-$16.3M+96.7%	-$497.2M-1184.7%	$45.8M+111.9%	-$386.1M
Investing Cash Flow	$12.7M+107.0%	-$181.1M-588.0%	-$26.3M-2815.4%	-$903K+97.9%	-$43.5M-124.0%	$181.4M+157.2%	-$317.2M+54.4%	-$695.0M
Financing Cash Flow	-$620K-100.6%	$102.2M-62.6%	$273.3M+366.8%	-$102.4M-42.7%	-$71.8M-119.3%	$372.3M+24.9%	$298.2M-70.3%	$1.0B
Dividends Paid	$14.9M0.0%	$14.9M0.0%	$14.9M0.0%	$14.9M0.0%	$14.8M+25.0%	$11.9M0.0%	$11.9M-5.5%	$12.6M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MBINM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	18.2%-6.4pp	24.6%-1.3pp	25.9%-19.8pp	45.7%-27.1pp	72.8%+9.0pp	63.8%
Return on Equity	9.6%-4.7pp	14.3%-2.1pp	16.4%+1.4pp	15.0%-4.6pp	19.7%-2.6pp	22.3%
Return on Assets	1.1%-0.6pp	1.7%+0.1pp	1.7%-0.1pp	1.7%-0.3pp	2.0%+0.1pp	1.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.53+0.1	7.38-1.6	8.97+1.3	7.64+6.7	0.89-0.8	1.66
FCF Margin	-30.2%+35.4pp	-65.5%-31.8pp	-33.8%-235.3pp	201.5%+218.5pp	-17.0%+293.7pp	-310.7%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	22.1%+3.9pp	18.1%+5.6pp	12.5%-7.8pp	20.3%-9.5pp	29.8%+11.7pp	18.1%-5.2pp	23.3%-4.4pp	27.7%
Return on Equity	3.0%+0.5pp	2.5%+0.7pp	1.7%-1.0pp	2.7%-1.6pp	4.3%+1.1pp	3.2%-0.9pp	4.0%-0.9pp	4.9%
Return on Assets	0.4%+0.1pp	0.3%+0.1pp	0.2%-0.1pp	0.3%-0.2pp	0.5%+0.2pp	0.3%-0.1pp	0.4%-0.1pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	7.53-0.2	7.70-0.1	7.76+0.1	7.70+0.3	7.38-1.2	8.62-0.0	8.65-0.4	9.03
FCF Margin	-130.7%-138.6pp	8.0%+49.2pp	-41.3%-90.4pp	49.2%+54.2pp	-5.1%+141.6pp	-146.7%-160.7pp	14.0%+136.8pp	-122.9%

Frequently Asked Questions

What is Merchants Banc's annual revenue?

Merchants Banc (MBINM) reported $1.2B in total revenue for fiscal year 2025. This represents a -7.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Merchants Banc's revenue growing?

Merchants Banc (MBINM) revenue declined by 7.8% year-over-year, from $1.3B to $1.2B in fiscal year 2025.

Is Merchants Banc profitable?

Yes, Merchants Banc (MBINM) reported a net income of $218.8M in fiscal year 2025, with a net profit margin of 18.2%.

What is Merchants Banc's net profit margin?

Merchants Banc (MBINM) had a net profit margin of 18.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Merchants Banc pay dividends?

Yes, Merchants Banc (MBINM) paid $0.40 per share in dividends during fiscal year 2025.

What is Merchants Banc's return on equity (ROE)?

Merchants Banc (MBINM) has a return on equity of 9.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Merchants Banc's free cash flow?

Merchants Banc (MBINM) generated -$362.2M in free cash flow during fiscal year 2025. This represents a 57.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Merchants Banc's operating cash flow?

Merchants Banc (MBINM) generated -$341.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Merchants Banc's total assets?

Merchants Banc (MBINM) had $19.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Merchants Banc's capital expenditures?

Merchants Banc (MBINM) invested $20.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Merchants Banc have outstanding?

Merchants Banc (MBINM) had 46M shares outstanding as of fiscal year 2025.

What is Merchants Banc's debt-to-equity ratio?

Merchants Banc (MBINM) had a debt-to-equity ratio of 7.53 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Merchants Banc's return on assets (ROA)?

Merchants Banc (MBINM) had a return on assets of 1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Merchants Banc's cash runway?

Based on fiscal year 2025 data, Merchants Banc (MBINM) had $212.2M in cash against an annual operating cash burn of $341.2M. This gives an estimated cash runway of approximately 7 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Merchants Banc's Piotroski F-Score?

Merchants Banc (MBINM) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Merchants Banc's earnings high quality?

Merchants Banc (MBINM) has an earnings quality ratio of -1.56x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Merchants Banc?

Merchants Banc (MBINM) scores 13 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.