Merchants Bancorp (MBIN) - Net Assets
Based on the latest financial reports, Merchants Bancorp (MBIN) has net assets worth $2.23 Billion USD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($19.35 Billion) and total liabilities ($17.13 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check asset resilience ratio of Merchants Bancorp to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.23 Billion |
| % of Total Assets | 11.5% |
| Annual Growth Rate | 35.23% |
| 5-Year Change | -72.9% |
| 10-Year Change | N/A |
| Growth Volatility | 362.08 |
Merchants Bancorp - Net Assets Trend (2015–2024)
This chart illustrates how Merchants Bancorp's net assets have evolved over time, based on quarterly financial data. Also explore how large is Merchants Bancorp's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for Merchants Bancorp (2015–2024)
The table below shows the annual net assets of Merchants Bancorp from 2015 to 2024. For live valuation and market cap data, see Merchants Bancorp market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $2.24 Billion | +31.88% |
| 2023-12-31 | $1.70 Billion | +16.53% |
| 2022-12-31 | $1.46 Billion | +26.34% |
| 2021-12-31 | $1.16 Billion | -86.04% |
| 2020-12-31 | $8.28 Billion | +1166.08% |
| 2019-12-31 | $653.73 Million | +55.19% |
| 2018-12-31 | $421.24 Million | +14.63% |
| 2017-12-31 | $367.47 Million | +78.14% |
| 2016-12-31 | $206.29 Million | +39.20% |
| 2015-12-31 | $148.20 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Merchants Bancorp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1024.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.33 Billion | 59.33% |
| Common Stock | $240.31 Million | 10.71% |
| Other Comprehensive Income | $-133.00K | -0.01% |
| Other Components | $672.13 Million | 29.96% |
| Total Equity | $2.24 Billion | 100.00% |
Merchants Bancorp Competitors by Market Cap
The table below lists competitors of Merchants Bancorp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Chinese Universe Publishing And Media Co Ltd
SHG:600373
|
$1.64 Billion |
|
Zhuzhou Times New Material Technology Co Ltd
SHG:600458
|
$1.64 Billion |
|
Bangchak Corporation Public Company Limited
BK:BCP
|
$1.64 Billion |
|
eToro Group Ltd.
NASDAQ:ETOR
|
$1.64 Billion |
|
Youngone Holdi
KO:009970
|
$1.64 Billion |
|
Nexa Resources SA
NYSE:NEXA
|
$1.64 Billion |
|
China Publishing & Media Hldg
SHG:601949
|
$1.64 Billion |
|
TriCo Bancshares
NASDAQ:TCBK
|
$1.64 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Merchants Bancorp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,701,084,000 to 2,243,310,000, a change of 542,226,000 (31.9%).
- Net income of 320,386,000 contributed positively to equity growth.
- Dividend payments of 51,167,000 reduced retained earnings.
- Share repurchases of 177,044,000 reduced equity.
- New share issuances of 320,403,000 increased equity.
- Other comprehensive income increased equity by 2,355,000.
- Other factors increased equity by 127,293,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $320.39 Million | +14.28% |
| Dividends Paid | $51.17 Million | -2.28% |
| Share Repurchases | $177.04 Million | -7.89% |
| Share Issuances | $320.40 Million | +14.28% |
| Other Comprehensive Income | $2.35 Million | +0.1% |
| Other Changes | $127.29 Million | +5.67% |
| Total Change | $- | 31.88% |
Book Value vs Market Value Analysis
This analysis compares Merchants Bancorp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.93x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 9.94x to 0.93x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | $4.69 | $46.60 | x |
| 2016-12-31 | $6.50 | $46.60 | x |
| 2017-12-31 | $10.86 | $46.60 | x |
| 2018-12-31 | $9.78 | $46.60 | x |
| 2019-12-31 | $15.16 | $46.60 | x |
| 2020-12-31 | $18.78 | $46.60 | x |
| 2021-12-31 | $26.67 | $46.60 | x |
| 2022-12-31 | $33.70 | $46.60 | x |
| 2023-12-31 | $39.24 | $46.60 | x |
| 2024-12-31 | $49.85 | $46.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Merchants Bancorp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.28%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 22.14%
- • Asset Turnover: 0.08x
- • Equity Multiplier: 8.38x
- Recent ROE (14.28%) is below the historical average (16.45%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 19.15% | 35.21% | 0.04x | 15.31x | $13.56 Million |
| 2016 | 16.06% | 34.08% | 0.04x | 13.18x | $12.50 Million |
| 2017 | 14.88% | 39.63% | 0.04x | 9.24x | $17.94 Million |
| 2018 | 14.93% | 33.89% | 0.05x | 9.22x | $20.75 Million |
| 2019 | 11.83% | 30.38% | 0.04x | 9.75x | $11.96 Million |
| 2020 | 22.27% | 45.00% | 0.04x | 11.90x | $99.47 Million |
| 2021 | 19.66% | 49.20% | 0.04x | 9.76x | $111.56 Million |
| 2022 | 15.05% | 36.49% | 0.05x | 8.64x | $73.75 Million |
| 2023 | 16.42% | 23.48% | 0.07x | 9.97x | $109.13 Million |
| 2024 | 14.28% | 22.14% | 0.08x | 8.38x | $96.06 Million |
Industry Comparison
This section compares Merchants Bancorp's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $552,557,300
- Average return on equity (ROE) among peers: 11.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Merchants Bancorp (MBIN) | $2.23 Billion | 19.15% | 7.70x | $1.64 Billion |
| Ameris Bancorp (ABCB) | $1.46 Billion | 8.31% | 6.86x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $5.70 Billion |
| ACNB Corporation (ACNB) | $74.01 Million | 9.97% | 11.77x | $483.21 Million |
| Affinity Bancshares Inc (AFBI) | $129.12 Million | 4.21% | 5.71x | $135.98 Million |
| Alerus Financial Corp (ALRS) | $153.31 Million | 13.22% | 8.01x | $647.19 Million |
| Amalgamated Bank (AMAL) | $535.82 Million | 8.62% | 10.16x | $1.14 Billion |
| Amerant Bancorp Inc. (AMTB) | $901.22 Million | 12.53% | 7.48x | $962.39 Million |
| Arrow Financial Corporation (AROW) | $72.29 Million | 17.85% | 12.85x | $601.02 Million |
| Associated Banc-Corp (ASB) | $2.02 Billion | 12.80% | 9.17x | $5.20 Billion |
| AmeriServ Financial Inc (ASRV) | $65.10 Million | 11.83% | 10.90x | $62.60 Million |
About Merchants Bancorp
Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates, and services government sponsored mortgages, including bridge financing products to refinance, acquire, or repositi… Read more