Merchants Bancorp (MBINL) — Financial statements
Income statement, balance sheet, and cash flow for Merchants Bancorp — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 1,365↓5.7% | 1,447↑21.7% | 1,189↑97.5% | 602↑30.4% | 462 | |
| Cost of Revenue | 802↓0.4% | 804↑20.1% | 670↑273.1% | 180↑361.6% | 39 | |
| Gross Profit | 564↓12.3% | 643↑23.8% | 519↑22.9% | 422↓0.0% | 423 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| General & Administrative Expenses | 174↑10.7% | 157↑28.8% | 122↑31.6% | 93↑4.7% | 88 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 174↑10.7% | 157↑28.8% | 122↑31.6% | 93↑4.7% | 88 | |
| Other Expenses | 126↑99.7% | 63↑27.8% | 49↑27.4% | 39↑32.4% | 29 | |
| Operating Expenses | 300↑36.3% | 220↑28.5% | 171↑30.3% | 131↑11.6% | 118 | |
| Total Costs & Expenses | 1,101↑7.5% | 1,024↑21.8% | 841↑170.5% | 311↑98.5% | 157 | |
| Operating Results | ||||||
| Operating Income | 264↓37.6% | 423↑21.5% | 348↑19.5% | 291↓4.5% | 305 | |
| Depreciation & Amortization | 3↑15.0% | 3↑5.7% | 3↑14.8% | 2↑13.4% | 2 | |
| EBITDA | 267↓37.2% | 426↑21.4% | 351↑19.5% | 294↓4.4% | 307 | |
| EBIT | 264↓37.6% | 423↑21.5% | 348↑19.5% | 291↓4.5% | 305 | |
| Interest & Other Income | ||||||
| Net Interest Income | 517↓1.1% | 523↑16.6% | 448↑40.7% | 319↑14.6% | 278 | |
| Interest Income | 1,201↓7.8% | 1,303↑20.9% | 1,078↑124.2% | 481↑54.2% | 312 | |
| Interest Expense | 684↓12.3% | 780↑23.9% | 630↑288.0% | 162↑378.8% | 34 | |
| Non-Operating Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other Income / Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Income Before Tax | 264↓37.6% | 423↑21.5% | 348↑19.5% | 291↓4.5% | 305 | |
| Income Tax Expense | 45↓56.0% | 102↑48.9% | 69↓3.8% | 71↓8.2% | 78 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 219↓31.7% | 320↑14.7% | 279↑27.1% | 220↓3.3% | 227 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 219↓31.7% | 320↑14.7% | 279↑27.1% | 220↓3.3% | 227 | |
| Bottom-Line Net Income | 174↓38.8% | 284↑16.0% | 245↑26.2% | 194↓6.1% | 206 | |
| EPS (Basic) | 3.78 | 0.00 | 0.00 | 0.00 | 0.00 | |
| EPS (Diluted) | 3.78 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Weighted Average Shares | 46 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Weighted Average Diluted Shares | 46 | 0.00 | 0.00 | 0.00 | 0.00 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.