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Merchants Bancorp (NAS:MBIN) Net Cash per Share Explanation
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
Merchants Bancorp Net Cash per Share Related Terms
Merchants Bancorp Net Cash per Share Historical Data
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The historical data trend for Merchants Bancorp's Net Cash per Share can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MBIN vs OFG, BLX, NWBI: Net Cash per Share Comparison
For the Banks - Regional subindustry, Merchants Bancorp's Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Merchants Bancorp Price-to-Net-Cash vs Banks Industry
For the Banks industry and Financial Services sector, Merchants Bancorp's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where Merchants Bancorp's Price-to-Net-Cash falls into.
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
Merchants Bancorp's Net Cash per Share for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Merchants Bancorp (MBIN) has a Net Cash per Share of $-390.96 as of Jun. 2026. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Merchants Bancorp and its competitors. According to the industry distribution chart, Merchants Bancorp ranks #999999 out of 8 companies in the Banks industry.
Is Merchants Bancorp's Net Cash per Share too high?
Merchants Bancorp's current Net Cash per Share is $-390.96. Based on the distribution chart, Merchants Bancorp ranks #999999 out of 8 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Merchants Bancorp has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merchants Bancorp's Net Cash per Share compare to OFG and BLX?
According to the Banks industry distribution chart, Merchants Bancorp ranks #999999 out of 8 companies for Net Cash per Share. This places Merchants Bancorp in the lower half of its industry. The industry median Net Cash per Share is 3.26. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for a Banks company?
The median Net Cash per Share among Banks companies is 3.26, based on 8 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on Merchants Bancorp and its competitors. For the Banks industry, the median Net Cash per Share is 3.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merchants Bancorp's current Net Cash per Share is $-390.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merchants Bancorp stock overvalued right now?
Based on GuruFocus' analysis, Merchants Bancorp (MBIN) is currently considered Modestly Overvalued. The stock's GF Value™ is $43.74, compared to a current price of $53.39 — trading 22.1% above its estimated fair value. The current Net Cash per Share is $-390.96. Merchants Bancorp's overall GF Score™ is 78/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For Merchants Bancorp (MBIN), the current Net Cash per Share is $-390.96 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Merchants Bancorp (MBIN) Overvalued in 2026?
Based on GuruFocus' analysis, Merchants Bancorp stock appears to be overvalued.
The current stock price of $53.39 is trading 22.1% above its estimated GF Value™ of $43.74.
GuruFocus considers Merchants Bancorp to be Modestly Overvalued.
Key valuation signals for MBIN:
Net Cash per Share: $-390.96
GF Value™: $43.74 vs. price of $53.39 (22.1% above fair value)
No single metric tells the full story. See the MBIN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merchants Bancorp is a United States-based bank holding company operating multiple lines of business focused on FHA multi-family housing and healthcare facility financing and servicing, retail and correspondent residential mortgage banking, and traditional community banking. Its segments include Multi-family Mortgage Banking, which originates and services government-sponsored mortgages for multi-family and healthcare facilities; Mortgage Warehousing, which offers mortgage warehouse financing, commercial loans and deposit services; and the Banking segment, which generates maximum revenue and provides portfolio lending for multi-family and healthcare facility loans, residential mortgage banking, agricultural lending, SBA lending and community banking.
78GF Score
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