Merchants Financial Group Inc
Merchants Financial Group, Inc. operates as the bank holding company for Merchants Bank, National Association that provides various banking products and services to individuals and companies in the United States. The company offers checking, savings, and individual retirement accounts, as well as certificates of deposit; and debit, gift, travel, and credit cards. It also provides personal loans f… Read more
Merchants Financial Group Inc (MFGI) - Net Assets
Latest net assets as of December 2025: $307.69 Million USD
Based on the latest financial reports, Merchants Financial Group Inc (MFGI) has net assets worth $307.69 Million USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.90 Billion) and total liabilities ($2.59 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $307.69 Million |
| % of Total Assets | 10.61% |
| Annual Growth Rate | 8.47% |
| 5-Year Change | 33.41% |
| 10-Year Change | 104.97% |
| Growth Volatility | 2.7 |
Merchants Financial Group Inc - Net Assets Trend (2013–2025)
This chart illustrates how Merchants Financial Group Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Merchants Financial Group Inc (2013–2025)
The table below shows the annual net assets of Merchants Financial Group Inc from 2013 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $307.69 Million | +11.60% |
| 2024-12-31 | $275.72 Million | +4.46% |
| 2023-12-31 | $263.94 Million | +9.44% |
| 2022-12-31 | $241.16 Million | +4.56% |
| 2021-12-31 | $230.64 Million | +9.42% |
| 2020-12-31 | $210.79 Million | +6.87% |
| 2019-12-31 | $197.23 Million | +10.98% |
| 2018-12-31 | $177.72 Million | +6.91% |
| 2017-12-31 | $166.22 Million | +10.73% |
| 2016-12-31 | $150.11 Million | +8.00% |
| 2015-12-31 | $138.99 Million | +5.95% |
| 2014-12-31 | $131.19 Million | +13.09% |
| 2013-12-31 | $116.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Merchants Financial Group Inc'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 180.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $312.17 Million | 101.45% |
| Common Stock | $68.00K | 0.02% |
| Other Comprehensive Income | $-14.80 Million | -4.81% |
| Other Components | $10.26 Million | 3.33% |
| Total Equity | $307.69 Million | 100.00% |
Merchants Financial Group Inc Competitors by Market Cap
The table below lists competitors of Merchants Financial Group Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
CompuGroup Medical AG O.N.
LSE:0MSD
|
$137.23 Million |
|
Global Indemnity PLC
NYSE:GBLI
|
$137.26 Million |
|
NationGate Holdings Berhad
KLSE:0270
|
$137.28 Million |
|
Oportun Financial Corp
NASDAQ:OPRT
|
$137.33 Million |
|
AGRANA Beteiligungs-Aktiengesellschaft
VI:AGR
|
$137.14 Million |
|
Milestone Pharmaceuticals Inc
NASDAQ:MIST
|
$137.12 Million |
|
Ningbo Tianyi Medical Appliance Co. Ltd.
SHE:301097
|
$137.06 Million |
|
Amcil Ltd
AU:AMH
|
$137.06 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Merchants Financial Group Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 275,720,000 to 307,692,000, a change of 31,972,000 (11.6%).
- Net income of 32,378,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 5,799,000.
- Other factors decreased equity by 6,205,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $32.38 Million | +10.52% |
| Other Comprehensive Income | $5.80 Million | +1.88% |
| Other Changes | $-6.21 Million | -2.02% |
| Total Change | $- | 11.60% |
Book Value vs Market Value Analysis
This analysis compares Merchants Financial Group Inc'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: 0.63x
- 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 1.65x to 0.63x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | $14.52 | $24.00 | x |
| 2014-12-31 | $16.31 | $24.00 | x |
| 2015-12-31 | $17.34 | $24.00 | x |
| 2016-12-31 | $18.73 | $24.00 | x |
| 2017-12-31 | $20.75 | $24.00 | x |
| 2018-12-31 | $22.21 | $24.00 | x |
| 2019-12-31 | $24.65 | $24.00 | x |
| 2020-12-31 | $26.42 | $24.00 | x |
| 2021-12-31 | $29.11 | $24.00 | x |
| 2022-12-31 | $30.55 | $24.00 | x |
| 2023-12-31 | $33.38 | $24.00 | x |
| 2024-12-31 | $33.71 | $24.00 | x |
| 2025-12-31 | $38.20 | $24.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Merchants Financial Group Inc 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): 10.52%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.56%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 9.43x
- Recent ROE (10.52%) is above the historical average (10.30%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 10.01% | 16.93% | 0.05x | 11.78x | $11.80K |
| 2014 | 9.41% | 17.56% | 0.05x | 11.61x | $-768.80K |
| 2015 | 9.68% | 16.52% | 0.05x | 11.49x | $-442.90K |
| 2016 | 9.43% | 16.21% | 0.05x | 10.87x | $-856.30K |
| 2017 | 12.56% | 23.63% | 0.05x | 10.01x | $4.26 Million |
| 2018 | 10.63% | 20.65% | 0.05x | 9.92x | $1.12 Million |
| 2019 | 10.02% | 17.88% | 0.05x | 10.71x | $43.80K |
| 2020 | 10.20% | 15.98% | 0.05x | 11.84x | $432.10K |
| 2021 | 12.48% | 22.73% | 0.04x | 12.26x | $5.71 Million |
| 2022 | 12.62% | 24.89% | 0.05x | 10.70x | $6.31 Million |
| 2023 | 9.66% | 17.73% | 0.06x | 9.85x | $-891.60K |
| 2024 | 6.72% | 11.41% | 0.06x | 10.09x | $-9.03 Million |
| 2025 | 10.52% | 18.56% | 0.06x | 9.43x | $1.61 Million |
Industry Comparison
This section compares Merchants Financial Group Inc's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Merchants Financial Group Inc (MFGI) | $307.69 Million | 10.01% | 8.43x | $137.19 Million |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |