Merchants BancorpMBIN +0.42%78 Pretax Margin % is 48.43% as of Mar. 2026, which is 25% below its 10-year median of 64.79. GuruFocus rates MBIN with a GF Score™ of 78/100 and a GF Value™ of $42.65 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 1,526 Banks companies, Merchants Bancorp ranks better than 58.78% on this metric.
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Merchants Bancorp Pretax Margin % Related Terms
Merchants Bancorp Pretax Margin % Historical Data
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The historical data trend for Merchants Bancorp's Pretax Margin % 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 BANR, SYBT, EFSC: Pretax Margin % Comparison
For the Banks - Regional subindustry, Merchants Bancorp's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs Banks Industry
For the Banks industry and Financial Services sector, Merchants Bancorp's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Merchants Bancorp's Pretax Margin % falls into.
* 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 Pretax Margin % of 48.43% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Merchants Bancorp and its competitors. This is 25% below median its historical median of 64.79. Over the past decade, Merchants Bancorp's Pretax Margin % has ranged from 38.46 to 71.30. According to the industry distribution chart, Merchants Bancorp ranks #629 out of 1526 companies in the Banks industry, placing it in the top 41.2%.
Is Merchants Bancorp's Pretax Margin % too high?
Merchants Bancorp's current Pretax Margin % of 48.43% is 25% below median its 10-year median of 64.79. Over the past 10 years, this metric has ranged from a low of 38.46 to a high of 71.30. The Banks industry median Pretax Margin % is 34.89. Merchants Bancorp's value of 48.43% is 38.8% above this industry median. Based on the distribution chart, Merchants Bancorp ranks #629 out of 1526 companies in the Banks industry, which is above the industry midpoint. 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 Pretax Margin % compare to BANR and SYBT?
According to the Banks industry distribution chart, Merchants Bancorp ranks #629 out of 1526 companies for Pretax Margin %. This puts Merchants Bancorp in the upper half of its industry. The industry median Pretax Margin % is 34.89. Merchants Bancorp's value of 48.43% is 38.8% above this benchmark. Historically, Merchants Bancorp's own Pretax Margin % has ranged from 38.46 to 71.30 over the past decade. While the company's 10-year median is 64.79 vs. the industry median of 34.89, Merchants Bancorp has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a Banks company?
The median Pretax Margin % among Banks companies is 34.89, based on 1,526 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merchants Bancorp's current Pretax Margin % of 48.43% is 38.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Merchants Bancorp and its competitors. For the Banks industry, the median Pretax Margin % is 34.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merchants Bancorp's current Pretax Margin % is 48.43%, which is 25% below median its own 10-year median of 64.79. 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 $42.65, compared to a current price of $50.04 — trading 17.3% above its estimated fair value. The current Pretax Margin % is 48.43%, which is 25% below median its 10-year median of 64.79 and 38.8% above the Banks industry median of 34.89. 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Merchants Bancorp (MBIN), the current Pretax Margin % is 48.43% as of Mar. 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 $50.04 is trading 17.3% above its estimated GF Value™ of $42.65.
GuruFocus considers Merchants Bancorp to be Modestly Overvalued.
Key valuation signals for MBIN:
Pretax Margin %: 48.43% (25% below median its 10-year median of 64.79)
GF Value™: $42.65 vs. price of $50.04 (17.3% above fair value)
Industry Position: 38.8% above the Banks median (#629 of 1526)
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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