<p>Merchants Bancorp (MBIN) 引起了关注，因为 Piper Sandler 和摩根士丹利对该股票进行了升级，理由是资产质量改善和成功的信用风险缓解措施。该公司的每股有形账面价值最近达到了新纪录。</p>
<p>请查看我们对 Merchants Bancorp 的最新分析。</p>
<p>尽管经历了一些波动，Merchants Bancorp 的股价在过去一个月有所上升，但仍低于年初的水平。该股票的长期表现仍然引人注目，五年总股东回报接近 89%。然而，随着风险认知的变化，2024 年的市场情绪受到挑战，12 个月的总回报为 -18%。</p>
<p>如果您有兴趣拓宽投资思路并发现市场上其他表现良好的股票，可以考虑探索高成长且内部持股比例高的股票。</p>
<p>随着分析师变得更加乐观，基本面显示出改善迹象，Merchants Bancorp 当前的股价是否反映了其未来前景的折扣，还是市场已经考虑了未来的增长？</p>
<h2>7.3 倍的市盈率：是否合理？</h2>
<p>Merchants Bancorp 的市盈率为 7.3 倍，这使得其股票相对于同行和更广泛的行业显得具有吸引力。在最后一次收盘价为 31.97 美元时，投资者为每一美元的历史收益支付的价格远低于多元化金融行业的典型水平。</p>
<p>市盈率衡量市场愿意为公司每一美元净利润支付多少。对于银行和金融公司来说，这是反映增长潜力、风险特征和收益一致性的关键指标。</p>
<p>这个低倍数可能表明市场低估了 Merchants Bancorp 的盈利能力和未来前景。与美国多元化金融行业平均的 13.2 倍和同行平均的 11.6 倍相比，MBIN 的市盈率显得相当有折扣。该公司的估计合理市盈率甚至更高，达到 13.7 倍，这可能表明如果条件改善，估值有上升的空间。</p>
<p>探索 Merchants Bancorp 的 SWS 公允比率</p>
<p><strong>结果：7.3 倍的市盈率（被低估）</strong></p>
<p>然而，金融市场的持续波动和投资者情绪的变化可能会对 Merchants Bancorp 的估值持续重估提出挑战。</p>
<p>了解 Merchants Bancorp 叙述中的关键风险。</p>
<h2>另一种观点：折现现金流模型的建议是什么？</h2>
<p>虽然像市盈率这样的市场倍数表明 Merchants Bancorp 可能被低估，但 SWS DCF 模型提供了更为戏剧性的视角。根据我们的 DCF 分析，MBIN 当前的交易价格比其估计公允价值 64.71 美元低 50.6%。这表明如果预测得以实现，存在可观的上行潜力。然而，关于这个长期模型与市场当前定价的可靠性仍然存在疑问。</p>
<p>了解 SWS DCF 模型如何得出其公允价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/aecc30c9-2a87-45c6-a1cc-5c145c207f26/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/aecc30c9-2a87-45c6-a1cc-5c145c207f26/chart/dcf"/></p>
<p>截至 2025 年 11 月的 MBIN 折现现金流</p>
<p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 Merchants Bancorp）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 906 只基于现金流的被低估股票。如果您保存了筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的 Merchants Bancorp 叙述</h2>
<p>如果您有不同的看法或想更深入地研究数字，您可以在几分钟内构建自己的叙述。按照您的方式进行。</p>
<p>您对 Merchants Bancorp 研究的一个很好的起点是我们的分析，重点突出 4 个关键奖励和 2 个可能影响您投资决策的重要警示信号。</p>
<h2>准备抓住更多机会吗？</h2>
<p>不要让您的下一个明智举动溜走。使用 Simply Wall Street 强大的筛选器，在几分钟内找到与您的目标一致的股票。</p>
<ul>
<li>通过查看这些 16 只收益率超过 3% 且支付历史可靠的股息股票，获取稳定的收入来源。</li>
<li>通过浏览这些 31 只医疗保健 AI 股票，解锁在前沿领域的增长，这些公司正在通过人工智能创新改变医疗保健。</li>
<li>通过审查这些 906 只基于现金流的被低估股票，加速您的投资组合，这些股票的交易价格低于其内在现金流价值。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也不考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

Merchants Bancorp-优先存托股B

<p>Merchants Bancorp (MBIN) 收到了 Piper Sandler 和摩根士丹利的升级，原因是资产质量改善和信用风险缓解。该公司的每股有形账面价值达到了新纪录。尽管近期股价上涨，但该股票仍低于年初水平。MBIN 的市盈率为 7.3 倍，显示出相较于行业平均水平的低估。DCF 分析表明，该股票的交易价格低于其估计公允价值的 50.6%。然而，市场波动性和投资者情绪的变化对持续的估值重估构成了风险</p>

<p>Merchants Bancorp (MBIN) has drawn attention after Piper Sandler and Morgan Stanley upgraded the stock, citing better asset quality and successful moves to mitigate credit risk. The company’s tangible book value per share recently reached a new record.</p>
<div class="lb-trans"><p>Merchants Bancorp (MBIN) 引起了关注，因为 Piper Sandler 和摩根士丹利对该股票进行了升级，理由是资产质量改善和成功的信用风险缓解措施。该公司的每股有形账面价值最近达到了新纪录。</p>
</div><p>See our latest analysis for Merchants Bancorp.</p>
<div class="lb-trans"><p>请查看我们对 Merchants Bancorp 的最新分析。</p>
</div><p>After showing resilience despite some volatility, Merchants Bancorp’s share price has edged up over the past month but still sits below where it started the year. The stock’s longer-term performance remains compelling, with a five-year total shareholder return of nearly 89%. However, sentiment has been challenged in 2024 as risk perceptions shift and the 12-month total return stands at -18%.</p>
<div class="lb-trans"><p>尽管经历了一些波动，Merchants Bancorp 的股价在过去一个月有所上升，但仍低于年初的水平。该股票的长期表现仍然引人注目，五年总股东回报接近 89%。然而，随着风险认知的变化，2024 年的市场情绪受到挑战，12 个月的总回报为 -18%。</p>
</div><p>If you’re interested in broadening your approach and spotting what else is working in the market, consider exploring fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果您有兴趣拓宽投资思路并发现市场上其他表现良好的股票，可以考虑探索高成长且内部持股比例高的股票。</p>
</div><p>With analysts turning more optimistic and fundamentals showing signs of improvement, does Merchants Bancorp’s current price reflect a discount on its future prospects, or is the market already factoring in the growth ahead?</p>
<div class="lb-trans"><p>随着分析师变得更加乐观，基本面显示出改善迹象，Merchants Bancorp 当前的股价是否反映了其未来前景的折扣，还是市场已经考虑了未来的增长？</p>
</div><h2>Price-to-Earnings of 7.3x: Is it justified?</h2>
<div class="lb-trans"><h2>7.3 倍的市盈率：是否合理？</h2>
</div><p>Merchants Bancorp trades at a price-to-earnings (P/E) ratio of 7.3x, which makes its shares appear attractively valued relative to peers and the broader industry. At the last close of $31.97, investors are paying far less for each dollar of trailing earnings than is typical in the diversified financial sector.</p>
<div class="lb-trans"><p>Merchants Bancorp 的市盈率为 7.3 倍，这使得其股票相对于同行和更广泛的行业显得具有吸引力。在最后一次收盘价为 31.97 美元时，投资者为每一美元的历史收益支付的价格远低于多元化金融行业的典型水平。</p>
</div><p>The price-to-earnings ratio measures how much the market is willing to pay for $1 of the company’s net profit. For banks and financials, it is a key metric reflecting growth potential, risk profile, and earnings consistency.</p>
<div class="lb-trans"><p>市盈率衡量市场愿意为公司每一美元净利润支付多少。对于银行和金融公司来说，这是反映增长潜力、风险特征和收益一致性的关键指标。</p>
</div><p>This low multiple could suggest the market is underappreciating Merchants Bancorp’s earning power and future prospects. When compared to the US Diversified Financial industry average of 13.2x and a peer average of 11.6x, MBIN’s P/E ratio stands out as a considerable discount. The estimated fair P/E for the company is even higher at 13.7x, which may indicate there is room for the valuation to move upward if conditions improve.</p>
<div class="lb-trans"><p>这个低倍数可能表明市场低估了 Merchants Bancorp 的盈利能力和未来前景。与美国多元化金融行业平均的 13.2 倍和同行平均的 11.6 倍相比，MBIN 的市盈率显得相当有折扣。该公司的估计合理市盈率甚至更高，达到 13.7 倍，这可能表明如果条件改善，估值有上升的空间。</p>
</div><p>Explore the SWS fair ratio for Merchants Bancorp</p>
<div class="lb-trans"><p>探索 Merchants Bancorp 的 SWS 公允比率</p>
</div><p><strong>Result: Price-to-Earnings of 7.3x (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：7.3 倍的市盈率（被低估）</strong></p>
</div><p>However, ongoing volatility in financial markets and shifting investor sentiment could challenge the case for a sustained rerating of Merchants Bancorp’s valuation.</p>
<div class="lb-trans"><p>然而，金融市场的持续波动和投资者情绪的变化可能会对 Merchants Bancorp 的估值持续重估提出挑战。</p>
</div><p>Find out about the key risks to this Merchants Bancorp narrative.</p>
<div class="lb-trans"><p>了解 Merchants Bancorp 叙述中的关键风险。</p>
</div><h2>Another View: What Does Discounted Cash Flow Suggest?</h2>
<div class="lb-trans"><h2>另一种观点：折现现金流模型的建议是什么？</h2>
</div><p>While market multiples like the price-to-earnings ratio indicate Merchants Bancorp could be undervalued, the SWS DCF model provides an even more dramatic perspective. According to our DCF analysis, MBIN is currently trading 50.6% below its estimated fair value of $64.71. This suggests substantial upside potential if forecasts are met. However, questions remain about how reliable this long-term model is compared to the market’s current pricing.</p>
<div class="lb-trans"><p>虽然像市盈率这样的市场倍数表明 Merchants Bancorp 可能被低估，但 SWS DCF 模型提供了更为戏剧性的视角。根据我们的 DCF 分析，MBIN 当前的交易价格比其估计公允价值 64.71 美元低 50.6%。这表明如果预测得以实现，存在可观的上行潜力。然而，关于这个长期模型与市场当前定价的可靠性仍然存在疑问。</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>了解 SWS DCF 模型如何得出其公允价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/aecc30c9-2a87-45c6-a1cc-5c145c207f26/chart/dcf" alt="" original-src="https://images.simplywall.st/company/aecc30c9-2a87-45c6-a1cc-5c145c207f26/chart/dcf"/></p>
<p>MBIN Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 MBIN 折现现金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Merchants Bancorp for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 906 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看 Merchants Bancorp）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 906 只基于现金流的被低估股票。如果您保存了筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own Merchants Bancorp Narrative</h2>
<div class="lb-trans"><h2>构建您自己的 Merchants Bancorp 叙述</h2>
</div><p>If you see things differently or want to dive deeper into the numbers yourself, you can craft your own narrative in just a few minutes. Do it your way.</p>
<div class="lb-trans"><p>如果您有不同的看法或想更深入地研究数字，您可以在几分钟内构建自己的叙述。按照您的方式进行。</p>
</div><p>A great starting point for your Merchants Bancorp research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>您对 Merchants Bancorp 研究的一个很好的起点是我们的分析，重点突出 4 个关键奖励和 2 个可能影响您投资决策的重要警示信号。</p>
</div><h2>Ready to Seize More Opportunities?</h2>
<div class="lb-trans"><h2>准备抓住更多机会吗？</h2>
</div><p>Don’t let your next smart move slip by. Use Simply Wall Street’s powerful screener to pinpoint stocks aligning with your goals in just minutes.</p>
<div class="lb-trans"><p>不要让您的下一个明智举动溜走。使用 Simply Wall Street 强大的筛选器，在几分钟内找到与您的目标一致的股票。</p>
</div><ul>
<li>Tap into steady income streams by checking out these 16 dividend stocks with yields &gt; 3% with robust yields above 3% and reliable payout histories.</li>
<li>Unlock growth in a cutting-edge sector by browsing these 31 healthcare AI stocks, showcasing companies transforming healthcare with artificial intelligence innovation.</li>
<li>Accelerate your portfolio with value picks by reviewing these 906 undervalued stocks based on cash flows, packed with stocks trading below their intrinsic cash flow value.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过查看这些 16 只收益率超过 3% 且支付历史可靠的股息股票，获取稳定的收入来源。</li>
<li>通过浏览这些 31 只医疗保健 AI 股票，解锁在前沿领域的增长，这些公司正在通过人工智能创新改变医疗保健。</li>
<li>通过审查这些 906 只基于现金流的被低估股票，加速您的投资组合，这些股票的交易价格低于其内在现金流价值。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也不考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

在分析师上调评级以及创下有形账面价值新高后，评估 Merchants Bancorp (MBIN) 的估值