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Merchants Bancorp Valuation Multiples
Discover revenue and EBITDA valuation multiples for Merchants Bancorp and similar public comparables like Banner, Enterprise Bank & Trust, Equity Group Holdings, Butterfield Group and more.
Merchants Bancorp Overview
About Merchants Bancorp
Merchants Bancorp is a United States based bank holding company. It operates multiple lines of business focusing on FHA (Federal Housing Administration) multi-family housing and healthcare facility financing and servicing, retail and correspondent residential mortgage banking, and traditional community banking. The business segments of the company are: Multi-family Mortgage Banking which originates and services government-sponsored mortgages for multi-family and healthcare facilities; Mortgage Warehousing segment which funds agency-eligible residential loans as well as commercial loans to nondepository financial institutions; and the Banking segment, which generates maximum revenue, and provides various financial products and services to consumers and businesses.
Founded
1990
HQ
Employees
663
Website
Sectors
Financials (LTM)
EV
$7B
Merchants Bancorp Financials
Merchants Bancorp reported last 12-month revenue of $694M.
In the same LTM period, Merchants Bancorp generated $195M in net income.
Revenue (LTM)
Merchants Bancorp P&L
In the most recent fiscal year, Merchants Bancorp reported revenue of $681M and net income of $219M.
Merchants Bancorp expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $694M | XXX | $681M | XXX | XXX | XXX |
| EBIT Margin | 51% | XXX | 50% | XXX | XXX | XXX |
| Net Profit | $195M | XXX | $219M | XXX | XXX | XXX |
| Net Margin | 28% | XXX | 32% | XXX | XXX | XXX |
| Net Debt | — | — | $4B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Merchants Bancorp Stock Performance
Merchants Bancorp has current market cap of $2B, and enterprise value of $7B.
Market Cap Evolution
Merchants Bancorp's stock price is $47.54.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $7B | $2B | 2.6% | XXX | XXX | XXX | $4.76 |
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Start Free TrialMerchants Bancorp Valuation Multiples
Merchants Bancorp trades at 9.5x EV/Revenue multiple.
EV / Revenue (LTM)
Merchants Bancorp Financial Valuation Multiples
As of April 11, 2026, Merchants Bancorp has market cap of $2B and EV of $7B.
Equity research analysts estimate Merchants Bancorp's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Merchants Bancorp has a P/E ratio of 11.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV (current) | $7B | XXX | $7B | XXX | XXX | XXX |
| EV/Revenue | 9.5x | XXX | 9.7x | XXX | XXX | XXX |
| EV/EBIT | 18.6x | XXX | 19.4x | XXX | XXX | XXX |
| P/E | 11.2x | XXX | 10.0x | XXX | XXX | XXX |
| EV/FCF | — | XXX | (17.5x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Merchants Bancorp Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Merchants Bancorp Margins & Growth Rates
Merchants Bancorp's revenue in the last 12 month grew by 6%.
Merchants Bancorp's revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.5M for the same period.
Merchants Bancorp Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6% | XXX | 7% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.0M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 29% | XXX | XXX | XXX |
| Opex to Revenue | 44% | XXX | 44% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Merchants Bancorp Public Comps
See public comps and valuation multiples for other Commercial Banking comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Banner | XXX | XXX | XXX | XXX | XXX | XXX |
| Enterprise Bank & Trust | XXX | XXX | XXX | XXX | XXX | XXX |
| Equity Group Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Butterfield Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Stock Yards Bancorp | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Merchants Bancorp M&A Activity
Merchants Bancorp acquired XXX companies to date.
Last acquisition by Merchants Bancorp was on XXXXXXXX, XXXXX. Merchants Bancorp acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Merchants Bancorp
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialMerchants Bancorp Investment Activity
Merchants Bancorp invested in XXX companies to date.
Merchants Bancorp made its latest investment on XXXXXXXX, XXXXX. Merchants Bancorp invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Merchants Bancorp
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Merchants Bancorp
| When was Merchants Bancorp founded? | Merchants Bancorp was founded in 1990. |
| Where is Merchants Bancorp headquartered? | Merchants Bancorp is headquartered in United States. |
| How many employees does Merchants Bancorp have? | As of today, Merchants Bancorp has over 663 employees. |
| Who is the CEO of Merchants Bancorp? | Merchants Bancorp's CEO is Michael F. Petrie. |
| Is Merchants Bancorp publicly listed? | Yes, Merchants Bancorp is a public company listed on Nasdaq. |
| What is the stock symbol of Merchants Bancorp? | Merchants Bancorp trades under MBIN ticker. |
| When did Merchants Bancorp go public? | Merchants Bancorp went public in 2017. |
| Who are competitors of Merchants Bancorp? | Merchants Bancorp main competitors are Banner, Enterprise Bank & Trust, Equity Group Holdings, Butterfield Group. |
| What is the current market cap of Merchants Bancorp? | Merchants Bancorp's current market cap is $2B. |
| What is the current revenue of Merchants Bancorp? | Merchants Bancorp's last 12 months revenue is $694M. |
| What is the current revenue growth of Merchants Bancorp? | Merchants Bancorp revenue growth (NTM/LTM) is 6%. |
| What is the current EV/Revenue multiple of Merchants Bancorp? | Current revenue multiple of Merchants Bancorp is 9.5x. |
| Is Merchants Bancorp profitable? | Yes, Merchants Bancorp is net-income-positive (as of the last 12 months). |
| What is the current net income of Merchants Bancorp? | Merchants Bancorp's last 12 months net income is $195M. |
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