Merchants Bancorp MBINO NASDAQ

Merchants Bancorp (MBINO) generated $-192.59M in operating cash flow for quarter ending 2025-12-31. After capital expenditures of $3.8M, free cash flow was $-196.39M.

Free cash flow margin was -55.4% of revenue. Cash conversion ratio was -2.84x, suggesting some earnings are non-cash.

The company returned $14.86M in dividends to shareholders during the quarter.

Criteria supported by this page:

• HEALTH (33/100, Fail) — weak cash flow raises concerns about debt servicing
• MOAT (52/100, Partial) — cash flow generation is present but not at levels indicating a wide moat
• INCOME (70/100) — Cash conversion ratio was -2.84x suggests some earnings are non-cash items

Overall SharesGrow Score: 74/100 with 5/7 criteria passed.