MBIN
Merchants Bancorp
PE ratio, current and historical analysis
- Stocks
- Financial Services
- NASDAQ: MBIN
- PE Ratio
As of Jun 3, 2026, the Merchants Bancorp stock's PE ratio is 11.11. This takes into account the latest EPS of $4.1 and stock price of $45.56. The PE ratio marks an increase of 31% from its last 4 quarters average of 8.5.
MBIN PE ratio history
The PE ratio of Merchants Bancorp has averaged 7.15 over the last nine years. The current P/E ratio of 11.11 is 55% higher than the historical average. Looking back at the last nine years, MBIN's PE ratio peaked in the Jun 2018 quarter at 12.68, when the price was $19.02 and the EPS was $1.5. The lowest point was in the Sep 2020 quarter, when it reached 4.16 with a price of $13.14 and an EPS of $3.16.
Merchants Bancorp PE ratio by year
Maximum annual increase: 56.15% in 2025
Maximum annual decrease: -42.55% in 2020
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 9.01 | 56.15% | $34.06 | $3.78 |
| 2024 | 5.77 | -23.27% | $36.47 | $6.32 |
| 2023 | 7.52 | 38.75% | $42.58 | $5.66 |
| 2022 | 5.42 | -17.88% | $24.32 | $4.49 |
| 2021 | 6.6 | 38.08% | $31.55 | $4.78 |
| 2020 | 4.78 | -42.55% | $18.42 | $3.85 |
| 2019 | 8.32 | -13.06% | $13.14 | $1.58 |
| 2018 | 9.57 | 10.89% | $13.31 | $1.39 |
| 2017 | 8.63 | N/A | $13.12 | $1.52 |
| 2016 | N/A | N/A | N/A | $0.98 |
| 2015 | N/A | N/A | N/A | $0.9 |
Merchants Bancorp PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 10.47 | 16.2% | $42.91 | $4.1 |
| Dec 2025 | 9.01 | 23.59% | $34.06 | $3.78 |
| Sep 2025 | 7.29 | 0.55% | $31.8 | $4.36 |
| Jun 2025 | 7.25 | 6.93% | $33.07 | $4.56 |
| Mar 2025 | 6.78 | 17.5% | $37 | $5.46 |
| Dec 2024 | 5.77 | -22.13% | $36.47 | $6.32 |
| Sep 2024 | 7.41 | 20.29% | $44.96 | $6.07 |
| Jun 2024 | 6.16 | -8.88% | $40.54 | $6.58 |
| Mar 2024 | 6.76 | -10.11% | $43.18 | $6.39 |
| Dec 2023 | 7.52 | 40.56% | $42.58 | $5.66 |
| Sep 2023 | 5.35 | -1.29% | $27.72 | $5.18 |
| Jun 2023 | 5.42 | -5.74% | $25.58 | $4.72 |
| Mar 2023 | 5.75 | 6.09% | $26.04 | $4.53 |
| Dec 2022 | 5.42 | 6.27% | $24.32 | $4.49 |
| Sep 2022 | 5.1 | 1.59% | $23.07 | $4.52 |
MBIN Price vs fair value
MBIN average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of MBIN is higher than its 3 and 5-year averages.
PE comparison
Merchants Bancorp's price to earnings (P/E) of 11.11 is lower than the Financial Services sector and the industry average. In comparison with the Financial Services sector average of 12.1, Merchants Bancorp's price to earnings (P/E) is 8% lower.
MBIN PE vs peers
In comparison to its peer NKSH, MBIN's PE ratio is lower, but it is higher than NRIM's.
| Stock name | PE ratio | Market cap |
|---|---|---|
| NRIM Northrim Bancorp Inc | 8.44 | $551.89M |
| MBIN Merchants Bancorp | 11.63 | $2.19B |
| NKSH National Bankshares Inc | 12.64 | $222.26M |
Frequently asked questions
What is Merchants Bancorp's PE ratio?
MBIN's price to earnings ratio is 11.11 as of Jun 3, 2026.
What is the 3-year average PE ratio for Merchants Bancorp (MBIN)?
As an average over the last 3 years, MBIN stock has a PE ratio of 7.1.
What is the 5-year average PE ratio for Merchants Bancorp (MBIN)?
As an average over the last 5 years, MBIN stock has a PE ratio of 6.5.
What is the highest PE ratio for MBIN?
Over the last nine years, the Jun 2018 quarter recorded the highest quarterly PE ratio at 12.68.
How does the current PE ratio for MBIN compare to its historical average?
MBIN's price to earnings ratio is currently 55% above its 9-year historical average.
How is MBIN's PE ratio calculated (Merchants Bancorp PE ratio formula)?
The P/E ratio is calculated by taking the latest stock price and dividing it by the EPS for the last 12 months. As of today (Jun 3, 2026), Merchants Bancorp's share price is $45.56. The company's earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $4.1. Therefore, Merchants Bancorp's PE ratio for today is 11.11. PE RATIO(11.11) = STOCK PRICE($45.56) / TTM EPS($4.1)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.