Merchants Bancorp (MBIN) — Tangible Net Worth Ratio
Merchants Bancorp (MBIN) has a Tangible Net Worth Ratio of 90.4% as of September 2025. This metric is calculated by deducting intangible assets ($213.16 Million) from net assets ($2.23 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. Also explore net asset growth rate of Merchants Bancorp to track the company's year-over-year net asset growth rate.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Merchants Bancorp Tangible Net Worth Ratio (2015–2024)
This chart shows how Merchants Bancorp's Tangible Net Worth Ratio has changed across 10 annual periods from 2015 to 2024. As of September 2025, the ratio stands at 90.4%, reflecting net assets of $2.23 Billion with intangible assets of $213.16 Million USD. For live market cap and overall valuation, see Merchants Bancorp market cap and net worth.
Annual Tangible Net Worth Ratio for Merchants Bancorp (2015–2024)
The table below presents the year-by-year Tangible Net Worth Ratio for Merchants Bancorp from 2015 to 2024, covering 10 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. Explore capital reinvestment ratio of Merchants Bancorp to see what proportion of operating cash flow is directed to capital expenditures.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 91.5% | $2.24 Billion | $189.99 Million | $18.81 Billion | ▲ +0.9 pp |
| 2023 | 90.6% | $1.70 Billion | $159.20 Million | $16.95 Billion | ▲ +0.7 pp |
| 2022 | 89.9% | $1.46 Billion | $147.43 Million | $12.62 Billion | ▼ -0.4 pp |
| 2021 | 90.3% | $1.16 Billion | $112.06 Million | $11.28 Billion | ▼ -8.7 pp |
| 2020 | 99.0% | $8.28 Billion | $84.89 Million | $9.65 Billion | ▲ +10.9 pp |
| 2019 | 88.0% | $653.73 Million | $78.19 Million | $6.37 Billion | ▲ +7.4 pp |
| 2018 | 80.7% | $421.24 Million | $81.39 Million | $3.88 Billion | ▼ -0.9 pp |
| 2017 | 81.6% | $367.47 Million | $67.59 Million | $3.40 Billion | ▲ +7.6 pp |
| 2016 | 74.0% | $206.29 Million | $53.67 Million | $2.72 Billion | ▲ +11.5 pp |
| 2015 | 62.5% | $148.20 Million | $55.55 Million | $2.27 Billion | — |