# Merchants Bancorp: financial statements, quarterly

MBIN · Nasdaq · CIK 1629019 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mbin.md) · [Financials](/companies/mbin/financials.md) · [Filings](/companies/mbin/filings.md) · [Insiders](/companies/mbin/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/mbin/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Interest expense | $m | [179](/filings/0001558370-24-003005.md) | [187](/filings/0001558370-24-003005.md) | [187](/filings/0001558370-24-007783.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Income tax | $m | [25.1](/filings/0001558370-24-015053.md) | [22.0](/filings/0001558370-24-003005.md) | [27.2](/filings/0001558370-25-007170.md) | [22.7](/filings/0001558370-25-011041.md) | [20.1](/filings/0001104659-25-108470.md) | [32.2 d](/filings/0001104659-26-021549.md) | [18.3](/filings/0001104659-26-057107.md) | [10.9](/filings/0001104659-26-092702.md) | [9.9](/filings/0001104659-25-108470.md) | [6.0 d](/filings/0001104659-26-021549.md) | [16.6](/filings/0001104659-26-057107.md) | [21.5](/filings/0001104659-26-092702.md) |
| Net income | $m | [81.5](/filings/0001558370-24-015053.md) | [77.5](/filings/0001558370-24-003005.md) | [87.1](/filings/0001558370-25-007170.md) | [76.4](/filings/0001558370-25-011041.md) | [61.3](/filings/0001104659-25-108470.md) | [95.7 d](/filings/0001104659-26-021549.md) | [58.2](/filings/0001104659-26-057107.md) | [38.0](/filings/0001104659-26-092702.md) | [54.7](/filings/0001104659-25-108470.md) | [67.8 d](/filings/0001104659-26-021549.md) | [67.7](/filings/0001104659-26-057107.md) | [78.3](/filings/0001104659-26-092702.md) |
| Diluted EPS | $ per share | [1.68](/filings/0001558370-24-015053.md) | [1.58](/filings/0001558370-24-003005.md) | [1.80](/filings/0001558370-25-007170.md) | [1.49](/filings/0001558370-25-011041.md) | [1.17](/filings/0001104659-25-108470.md) | not reported | [0.93](/filings/0001104659-26-057107.md) | [0.60](/filings/0001104659-26-092702.md) | [0.97](/filings/0001104659-25-108470.md) | not reported | [1.25](/filings/0001104659-26-057107.md) | [1.48](/filings/0001104659-26-092702.md) |
| Basic EPS | $ per share | [1.68](/filings/0001558370-24-015053.md) | [1.59](/filings/0001558370-24-003005.md) | [1.81](/filings/0001558370-25-007170.md) | [1.50](/filings/0001558370-25-011041.md) | [1.17](/filings/0001104659-25-108470.md) | not reported | [0.93](/filings/0001104659-26-057107.md) | [0.60](/filings/0001104659-26-092702.md) | [0.97](/filings/0001104659-25-108470.md) | not reported | [1.25](/filings/0001104659-26-057107.md) | [1.48](/filings/0001104659-26-092702.md) |

- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Total assets | $bn | [16.5](/filings/0001558370-24-015053.md) | [17.0](/filings/0001104659-26-021549.md) | [17.8](/filings/0001558370-25-007170.md) | [18.2](/filings/0001558370-25-011041.md) | [18.7](/filings/0001104659-25-108470.md) | [18.8](/filings/0001104659-26-021549.md) | [18.8](/filings/0001104659-26-057107.md) | [19.1](/filings/0001104659-26-092702.md) | [19.4](/filings/0001104659-25-108470.md) | [19.4](/filings/0001104659-26-092702.md) | [20.3](/filings/0001104659-26-057107.md) | [21.2](/filings/0001104659-26-092702.md) |
| Total liabilities | $bn | [14.9](/filings/0001558370-23-018561.md) | [15.3](/filings/0001558370-25-001941.md) | [16.0](/filings/0001558370-24-007783.md) | [16.3](/filings/0001558370-24-011741.md) | [16.7](/filings/0001558370-24-015053.md) | [16.6](/filings/0001104659-26-021549.md) | [16.6](/filings/0001558370-25-007170.md) | [17.0](/filings/0001558370-25-011041.md) | [17.1](/filings/0001104659-25-108470.md) | [17.2](/filings/0001104659-26-092702.md) | [18.0](/filings/0001104659-26-057107.md) | [18.8](/filings/0001104659-26-092702.md) |
| Long-term debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $bn | [1.6](/filings/0001558370-24-015053.md) | [1.7](/filings/0001104659-26-021549.md) | [1.8](/filings/0001558370-25-007170.md) | [1.9](/filings/0001558370-25-011041.md) | [1.9](/filings/0001104659-25-108470.md) | [2.2](/filings/0001104659-26-021549.md) | [2.2](/filings/0001104659-26-057107.md) | [2.2](/filings/0001104659-26-092702.md) | [2.2](/filings/0001104659-25-108470.md) | [2.3](/filings/0001104659-26-092702.md) | [2.3](/filings/0001104659-26-057107.md) | [2.4](/filings/0001104659-26-092702.md) |

- Cash and equivalents: not reported
- Total assets: us-gaap:Assets
- Total liabilities: us-gaap:Liabilities
- Long-term debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(550) d](/filings/0001558370-24-015053.md) | [736 d](/filings/0001104659-26-021549.md) | [(384)](/filings/0001558370-25-007170.md) | [51.1 d](/filings/0001558370-25-011041.md) | [(493) d](/filings/0001104659-25-108470.md) | [(10.0) d](/filings/0001104659-26-021549.md) | [148](/filings/0001104659-26-057107.md) | [(121) d](/filings/0001104659-26-092702.md) | [29.8 d](/filings/0001104659-25-108470.md) | [(398) d](/filings/0001104659-26-021549.md) | [(597)](/filings/0001104659-26-057107.md) | [213 d](/filings/0001104659-26-092702.md) |
| Capital expenditure | $m | [0.5 d](/filings/0001558370-24-015053.md) | [4.1 d](/filings/0001104659-26-021549.md) | [2.3](/filings/0001558370-25-007170.md) | [5.3 d](/filings/0001558370-25-011041.md) | [4.5 d](/filings/0001104659-25-108470.md) | [6.3 d](/filings/0001104659-26-021549.md) | [6.9](/filings/0001104659-26-057107.md) | [4.5 d](/filings/0001104659-26-092702.md) | [5.8 d](/filings/0001104659-25-108470.md) | [3.8 d](/filings/0001104659-26-021549.md) | [1.1](/filings/0001104659-26-057107.md) | [2.4 d](/filings/0001104659-26-092702.md) |
| Dividends paid | $m | [12.1 d](/filings/0001558370-24-015053.md) | [12.1 d](/filings/0001104659-26-021549.md) | [12.6](/filings/0001558370-25-007170.md) | [11.9 d](/filings/0001558370-25-011041.md) | [11.9 d](/filings/0001104659-25-108470.md) | [14.8 d](/filings/0001104659-26-021549.md) | [14.9](/filings/0001104659-26-057107.md) | [14.9 d](/filings/0001104659-26-092702.md) | [14.9 d](/filings/0001104659-25-108470.md) | [14.9 d](/filings/0001104659-26-021549.md) | [15.3](/filings/0001104659-26-057107.md) | [15.3 d](/filings/0001104659-26-092702.md) |
| Share repurchases | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | [3.0](/filings/0001104659-26-057107.md) | [0.0 d](/filings/0001104659-26-092702.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividends
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [43.3](/filings/0001558370-23-018561.md) | [43.3](/filings/0001558370-24-007783.md) | [43.3](/filings/0001558370-24-011741.md) | [43.4](/filings/0001558370-24-015053.md) | [43.5](/filings/0001558370-25-007170.md) | [44.7](/filings/0001558370-25-011041.md) | [45.9](/filings/0001104659-25-108470.md) | [45.9](/filings/0001104659-26-057107.md) | [45.9](/filings/0001104659-26-092702.md) | [46.0](/filings/0001104659-25-108470.md) | [46.0](/filings/0001104659-26-057107.md) | [46.0](/filings/0001104659-26-092702.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 45,938,075 at 2026-07-30, from the cover of the [10-Q filed 2026-08-07](/filings/0001104659-26-092702.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:44 ET. No prices; not investment advice.