MERCHANTS BANCORP
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $681.4M | $670.7M | $562.7M | $444.5M | $435.3M | $351.6M | $169.4M | $139.6M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $263.8M | $422.6M | $977.6M | $453.4M | $338.8M | $302.0M | $191.8M | $134.6M |
| Operating Margin | 38.7% | 63.0% | 173.7% | 102.0% | 77.8% | 85.9% | 113.3% | 96.5% |
| Interest Expense | — | — | $629.7M | $162.3M | $33.9M | $58.6M | $89.7M | $50.6M |
| Pretax Income | $263.8M | $422.6M | $347.9M | $291.1M | $304.9M | $243.4M | $102.1M | $84.0M |
| Income Tax Expense | $45.0M | $102.3M | $68.7M | $71.4M | $77.8M | $62.8M | $24.8M | $21.2M |
| Net Income | $218.8M | $320.4M | $279.2M | $219.7M | $227.1M | $180.5M | $77.3M | $62.9M |
| Net Margin | 32.1% | 47.8% | 49.6% | 49.4% | 52.2% | 51.3% | 45.7% | 45.1% |
| EPS (Basic) | $3.78 | $6.32 | $5.66 | $4.49 | $4.78 | $3.85 | $1.58 | $2.08 |
| EPS (Diluted) | $3.78 | $6.30 | $5.64 | $4.47 | $4.76 | $3.85 | $1.58 | $2.07 |
| Shares Outstanding (Basic) | 45.9M | 44.9M | 43.2M | 43.2M | 43.2M | 43.1M | 43.1M | 28.7M |
| Shares Outstanding (Diluted) | 45.9M | 45.0M | 43.3M | 43.3M | 43.3M | 43.2M | 43.1M | 28.7M |
| Dividends Per Share | $0.40 | $0.36 | $0.32 | $0.28 | $0.24 | $0.21 | $0.19 | $0.24 |