Merchants Bancorp
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 | Mar 2025 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $182.2M | $175.2M | $171.1M | $179.2M | $145.9M | $149.6M | $159.5M | $167.9M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $99.8M | $84.3M | $64.6M | $48.8M | $76.5M | $81.3M | $99.1M | $301.4M |
| Operating Margin | 54.8% | 48.1% | 37.8% | 27.3% | 52.4% | 54.4% | 62.2% | 179.5% |
| Interest Expense | — | — | — | — | — | — | — | $187.1M |
| Pretax Income | $99.8M | $84.3M | $64.6M | $48.8M | $76.5M | $81.3M | $99.1M | $114.3M |
| Income Tax Expense | $21.5M | $16.6M | $9.9M | $10.9M | $18.3M | $20.1M | $22.7M | $27.2M |
| Net Income | $78.3M | $67.7M | $54.7M | $38.0M | $58.2M | $61.3M | $76.4M | $87.1M |
| Net Margin | 43.0% | 38.6% | 32.0% | 21.2% | 39.9% | 41.0% | 47.9% | 51.8% |
| EPS (Basic) | $1.48 | $1.25 | $0.97 | $0.60 | $0.93 | $1.17 | $1.50 | $1.81 |
| EPS (Diluted) | $1.48 | $1.25 | $0.97 | $0.60 | $0.93 | $1.17 | $1.49 | $1.80 |
| Shares Outstanding (Basic) | 45.9M | 45.9M | 45.9M | 45.9M | 45.8M | 45.8M | 44.6M | 43.3M |
| Shares Outstanding (Diluted) | 46.0M | 46.0M | 46.0M | 45.9M | 45.9M | 45.9M | 44.7M | 43.5M |
| Dividends Per Share | $0.44 | $0.44 | $0.40 | $0.40 | $0.40 | $0.36 | $0.36 | $0.36 |