Merchants BancorpMBIN -0.80%78 PS Ratio is 3.23 as of Jun. 29, 2026, which is 13% above its 10-year median of 2.87. 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 1,519 Banks companies, Merchants Bancorp ranks worse than 55.96% on this metric.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, Merchants Bancorp's share price is $49.57.
Merchants Bancorp's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 was $15.37. Hence, Merchants Bancorp's PS Ratio for today is 3.23.
Warning Sign:
Merchants Bancorp stock PS Ratio (=3.25) is close to 1-year high of 3.26.
The historical rank and industry rank for Merchants Bancorp's PS Ratio or its related term are showing as below:
MBIN'
s PS Ratio Range Over the Past 10 Years
Min: 1.97 Med: 2.87 Max: 6.72
Current: 3.21
During the past 11 years, Merchants Bancorp's highest PS Ratio was 6.72. The lowest was 1.97. And the median was 2.87.
MBIN's PS Ratio is ranked worse than 55.96% of 1519
companies
in the Banks industry
Industry Median: 2.97
vs MBIN: 3.21
Merchants Bancorp has shown predictable revenue and earnings growth.
During the past 12 months, the average Revenue per Share Growth Rate of Merchants Bancorp was 8.60% per year.
During the past 3 years, the average Revenue per Share Growth Rate was 13.20% per year.
During the past 5 years, the average Revenue per Share Growth Rate was 13.90% per year.
During the past 10 years, the average Revenue per Share Growth Rate was 24.80% per year.
During the past 11 years, Merchants Bancorp's highest 3-Year average Revenue per Share Growth Rate was 46.60% per year. The lowest was 13.20% per year. And the median was 16.65% per year.
Back to Basics: PS Ratio
Merchants Bancorp (NAS:MBIN) PS Ratio Explanation
The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.
When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.
The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.
Merchants Bancorp PS Ratio Related Terms
Merchants Bancorp PS Ratio Historical Data
* Premium members only.
The historical data trend for Merchants Bancorp's PS Ratio 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.
For the Banks - Regional subindustry, Merchants Bancorp's PS Ratio, along with its competitors' market caps and PS Ratio 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 PS Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Merchants Bancorp's PS Ratio distribution charts can be found below:
* The bar in red indicates where Merchants Bancorp's PS Ratio falls into.
The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.
Merchants Bancorp's Share Price of today is $49.57. Merchants Bancorp's Revenue per Share for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $15.37.
* 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.
It can also be calculated from the numbers for the whole company:
Merchants Bancorp (MBIN) has a PS Ratio of 3.23 as of Jun. 29, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Merchants Bancorp and its competitors. This is 13% above median its historical median of 2.87. Over the past decade, Merchants Bancorp's PS Ratio has ranged from 1.97 to 6.72. According to the industry distribution chart, Merchants Bancorp ranks #850 out of 1519 companies in the Banks industry, placing it in the top 56%.
Is Merchants Bancorp's PS Ratio too high?
Merchants Bancorp's current PS Ratio of 3.23 is 13% above median its 10-year median of 2.87. Over the past 10 years, this metric has ranged from a low of 1.97 to a high of 6.72. The Banks industry median PS Ratio is 2.97. Merchants Bancorp's value of 3.23 is 8.8% above this industry median. Based on the distribution chart, Merchants Bancorp ranks #850 out of 1519 companies in the Banks industry, which is below 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 PS Ratio compare to BANR and BLX?
According to the Banks industry distribution chart, Merchants Bancorp ranks #850 out of 1519 companies for PS Ratio. This places Merchants Bancorp in the lower half of its industry. The industry median PS Ratio is 2.97. Merchants Bancorp's value of 3.23 is 8.8% above this benchmark. Historically, Merchants Bancorp's own PS Ratio has ranged from 1.97 to 6.72 over the past decade. While the company's 10-year median is 2.87 vs. the industry median of 2.97, 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 PS Ratio for a Banks company?
The median PS Ratio among Banks companies is 2.97, based on 1,519 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merchants Bancorp's current PS Ratio of 3.23 is 8.8% 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 PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on Merchants Bancorp and its competitors. For the Banks industry, the median PS Ratio is 2.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merchants Bancorp's current PS Ratio is 3.23, which is 13% above median its own 10-year median of 2.87. 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 $49.57 — trading 16.2% above its estimated fair value. The current PS Ratio is 3.23, which is 13% above median its 10-year median of 2.87 and 8.8% above the Banks industry median of 2.97. 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 PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For Merchants Bancorp (MBIN), the current PS Ratio is 3.23 as of Jun. 29, 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 $49.57 is trading 16.2% above its estimated GF Value™ of $42.65.
GuruFocus considers Merchants Bancorp to be Modestly Overvalued.
Key valuation signals for MBIN:
PS Ratio: 3.23 (13% above median its 10-year median of 2.87)
GF Value™: $42.65 vs. price of $49.57 (16.2% above fair value)
Industry Position: 8.8% above the Banks median (#850 of 1519)
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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