M MBIN

Merchants Bancorp

$41.66

-1.42% ($0.60)

Volume 212,677

52W High $48.50

52W Low $27.25

Market Cap $1.49B

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What to Watch This Quarter

Based on historical data

Consensus EPS

$1.10

Whisper EPS

$1.08

2.0% below consensus

Last Quarter

$1.28

Current Streak

2 Beats

Avg Surprise (4Q)

-0.42%

Next Earnings Report

Reports in 39 days

Report Date Apr 23, 2026

Whisper Spread -1.99%

Consensus Estimate

$1.10

Official analyst average

Whisper Number

$1.08

What traders expect

Cautious Sentiment: The whisper number is 2.0% below consensus, suggesting traders are skeptical. Meeting consensus may not be enough to satisfy the market.

Price Chart

EPS History: Consensus vs Actual

Last 12 quarters

Price Movement Around Earnings

Q4 2025 Feb 2, 2026

1-Day: -1.38%

Q3 2025 Oct 27, 2025

1-Day: +0.09%

Q2 2025 Jul 28, 2025

1-Day: -10.84%

Q1 2025 Apr 28, 2025

1-Day: -8.63%

Revenue & Financial Performance

Revenue Whisper

$399.0M

TWN Proprietary Estimate

Last Quarter Revenue

$354.7M

-6.6% YoY

Gross Margin

44.4%

Net Margin: 19.1%

Quarter	Revenue	YoY Growth	Gross Margin	Op Margin	Net Income
Q4'25	$354.7M	-6.6%	44.4%	20.8%	$67.8M
Q3'25	$343.5M	-3.1%	40.9%	18.8%	$54.7M
Q2'25	$353.7M	-1.4%	35.4%	13.8%	$38.0M
Q1'25	$310.1M	-12.4%	44.3%	24.7%	$58.2M
Q4'24	$379.8M	+9.9%	50.1%	33.7%	$95.7M
Q3'24	$354.6M	+6.9%	39.9%	22.9%	$61.3M
Q2'24	$358.6M	+24.9%	41.4%	27.6%	$76.4M
Q1'24	$354.1M	+57.6%	45.8%	32.3%	$87.1M

Historical Earnings

Last 12 quarters

Quarter	Date	Consensus	Whisper	Actual EPS	Surprise %	Result
Q4 2025	Feb 2, 2026	$0.94	$0.92	$1.28	+36.17%	Beat
Q3 2025	Oct 27, 2025	$0.89	$0.85	$0.97	+8.99%	Beat
Q2 2025	Jul 28, 2025	$1.12	$1.11	$0.60	-46.43%	Missed
Q1 2025	Apr 28, 2025	$1.28	$1.36	$0.93	-27.34%	Missed
Q4 2024	Jan 28, 2025	$1.30	$1.32	$1.85	+42.31%	Beat
Q3 2024	Oct 28, 2024	$1.42	$1.53	$1.17	-17.61%	Missed
Q2 2024	Jul 29, 2024	$1.57	$1.71	$1.49	-5.10%	Missed
Q1 2024	Apr 29, 2024	$1.37	$1.46	$1.80	+31.39%	Beat
Q4 2023	Jan 29, 2024	$1.44	$1.53	$1.58	+9.72%	Beat
Q3 2023	Oct 26, 2023	$1.32	$1.34	$1.68	+27.27%	Beat
Q2 2023	Jul 27, 2023	$1.23	$1.27	$1.31	+6.50%	Beat
Q1 2023	Apr 27, 2023	$1.13	$1.18	$1.07	-5.31%	Missed