$45.56
-1.6%Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities. This segment also offers customized loan products for independent living, assisted living, memory care, and skilled nursing projects; and operates as a syndicator of low-income housing tax credit and debt funds. The Mortgage Warehousing segment funds agency eligible residential loans, including origination, purchase, and sale in the secondary market, as well as commercial loans to non-depository financial institutions. The Banking segment offers a range of financial products and services to consumers and businesses, such as various types of deposit products, as well as multi-family construction and bridge, commercial real estate, commercial and industrial, agricultural, residential mortgage, and consumer loan products. This segment also provides single-family mortgage lending; construction, bridge, and lot financing; first-lien home equity lines of credit; and small business administration lending products and services. Merchants Bancorp was founded in 1990 and is headquartered in Carmel, Indiana.
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash flow concerns: Despite profitability, the company is burning cash. Review working capital management, CapEx levels, and sustainability of current operations.
MBIN โข NASDAQ
| Merchants Bancorp Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||||
218.8M | 320.4M | 279.2M | 219.7M | 227.1M | 180.5M | 77.3M | 62.9M | 54.7M | 33.1M | 28.4M | |
3.5M | 3M | 2.9M | 2.5M | 2.2M | 1.9M | 852K | 461K | 296K | 278K | 301K | |
0.0 | 4.6M | -2.4M | 4.7M | 5.3M | -692K | -978K | 2.3M | -2.4M | -1.4M | 482K | |
-565.3M | -811.9M | -636M | 350.3M | -50.5M | -973.8M | -1.2B | 167.1M | -235.9M | -139.8M | 116M | |
(47.6M) | (79.6M) | (67.4M) | (66.5M) | (78.8M) | (57.3M) | (19.3M) | (17M) | (27.1M) | (22.2M) | (19.5M) | |
1.9M | -351.4M | -70K | 398.6M | -233.3M | -82.8M | -86.1M | -28.4M | 7.5M | -41.9M | -26.8M | |
-341.2M | -835.3M | -356.4M | 975.8M | -49.2M | -874.9M | -1.3B | 204.3M | -175.9M | -149.8M | 118.3M | |
INVESTING ACTIVITIES | |||||||||||
(0.0) | -18.4M | -7.5M | -6.8M | -3.6M | -3.6M | -14M | -9.2M | -788K | -1.2M | -322K | |
(0.0) | -170.6M | (0.0) | (0.0) | -464K | (0.0) | (0.0) | -14.3M | (363K) | (0.0) | (0.0) | |
(39K) | -992.8M | -1.6B | -1.3B | -232.4M | -601M | -648.7M | -50.9M | -202.3M | -301.5M | -361.1M | |
870.9M | 1.1B | 699.2M | 159.1M | 176.6M | 627.6M | 689.6M | 194.7M | 116.5M | 218.3M | 328.8M | |
-1.1B | -829.3M | -2.3B | -1.7B | -414.3M | -2.6B | -984.6M | -629.4M | -436.9M | -180.9M | -316.7M | |
-195.7M | -874.3M | -3.3B | -2.9B | -474.3M | -2.5B | -957.7M | -509.1M | -523.1M | -265.3M | -349.3M | |
FINANCING ACTIVITIES | |||||||||||
0.0 | 97.7M | 0.0 | -3.9M | 0.0 | 0.0 | 0.0 | 0.0 | 106.2M | 0.0 | 3.9M | |
-546.7M | 3.4B | 33.1M | -103.6M | -314.3M | 1.2B | -14M | 137.7M | -394K | -485K | 9.6M | |
-59.4M | -51.2M | -48.5M | -38.1M | -31.2M | -23.7M | -17.3M | -10.2M | -8M | -6.2M | -4.2M | |
(0.0) | (0.0) | (0.0) | -3.9M | (0.0) | (0.0) | -21.9M | -700K | (0.0) | (0.0) | (0.0) | |
878.7M | -1.9B | 4B | 1.1B | 1.6B | 1.9B | 2.2B | 155M | 514.9M | 389.1M | 428.8M | |
272.5M | 1.6B | 4B | 1.1B | 1.4B | 3.1B | 2.4B | 282.5M | 612.8M | 414M | 448.2M | |
CASH FLOW SUMMARY | |||||||||||
-264.4M | -107.8M | 358.3M | -806.5M | 852.9M | -327M | 170.2M | -23M | -86.2M | -1.1M | 217.1M | |
476.6M | 584.4M | 226.2M | 1B | 179.7M | 506.7M | 336.5M | 359.5M | 445.7M | 446.8M | 229.7M | |
212.2M | 476.6M | 584.4M | 226.2M | 1B | 179.7M | 506.7M | 336.5M | 359.5M | 445.7M | 446.8M | |
-376.7M | -853.7M | -363.9M | 967M | -52.9M | -878.5M | -1.3B | 188.8M | -177.9M | -152.3M | 116.9M |
MBIN - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 21, 2026 | May 21, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | May 07, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 28, 2026 | April 28, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 10, 2026 | May 21, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 27, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | February 19, 2026 | February 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 28, 2026 | January 28, 2026 | 2026 | |
8-K 8-K 2025 N/A | November 19, 2025 | November 19, 2025 | 2025 | |
10-Q 10-Q 2025 Q3 Q3 | November 07, 2025 | September 30, 2025 | 2025 | |
8-K 8-K 2025 N/A | October 28, 2025 | October 28, 2025 | 2025 |
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