Merchants Bancorp Depositary Shares, Each Representing a 1/40thInterest in a Share of 7.25% Fixed Rate Series E Non-CumulativePerpetual Preferred Stock, without par value financials
$23.26−0.09%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 |
|---|---|---|
| Revenue | $1.37B | $1.45B |
| Gross profit | $681.4M | $670.7M |
| Gross margin | 49.9% | 46.2% |
| Operating income | $263.8M | $422.6M |
| Net income | $173.6M | $283.7M |
| Net margin | 12.7% | 19.6% |
| Diluted EPS | $3.78 | $6.30 |
| EBITDA | $263.8M | $422.6M |
| Operating cash flow | -$341.2M | -$835.3M |
| Free cash flow | -$362.2M | -$853.7M |
| Diluted shares | 45.9M | 45.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 |
|---|---|---|
| Cash & equivalents | $15.8M | $11.0M |
| Short-term investments | $3.45B | $3.76B |
| Total debt | $3.84B | $4.39B |
| Total assets | $19.45B | $18.81B |
| Total liabilities | $17.17B | $16.56B |
| Shareholders' equity | $2.28B | $2.24B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology