Basis: FMP quote price / unrounded FMP forward EPS in the trading currency, available after its recorded retrieval time. Source: stored company filings and market data; unavailable inputs remain N/A.
The forward PE ratio is 8.91 as of 2026-10-06T18:27:26.270Z.
Consensus retrieved: 2026-10-06T13:44:56.332Z. This records retrieval, including cache reads, rather than vendor publication. The calculation uses the separately dated price and estimate available at its as-of time.
Calculation as of: 2026-10-06T18:27:26.270Z.
Quote observation: 2026-10-06T18:24:50.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: f5dc4b100cbe80d578ee5e2e9ba61e55711333ddfdbc5d3fcf4c8bc10ca0b873
Forward PE Ratio (8.91) = Dated Quote Price ($49.66) / Consensus Forward EPS ($5.57)
FORWARD PE RATIO
8.91
SECTOR MEDIAN · FINANCIAL SERVICES
11.16
median of 402 covered companies
CURRENT VS SECTOR MEDIAN
-20.13%
vs the sector median at left
Merchants Bancorp
Market Cap
$2.28B
Forward PE Ratio
8.91
| NAME | MARKET CAP | FORWARD PE RATIO |
|---|---|---|
| Merchants Bancorp (MBIN) | $2.28B | 8.91 |
| Upstart Holdings, Inc. (UPST)vs › | $2.29B | 35.35 |
| Banner Corporation (BANR)vs › | $2.28B | 11.26 |
| Stock Yards Bancorp, Inc. (SYBT)vs › | $2.27B | 14.79 |
| Skyward Specialty Insurance Group, Inc. (SKWD)vs › | $2.26B | 11.07 |
| Brighthouse Financial, Inc. (BHFAP)vs › | $2.24B | N/A |
| Ethos Technologies Inc. (LIFE)vs › | $2.23B | N/A |
| eToro Group Ltd. (ETOR)vs › | $2.22B | 10.60 |
| WaFd, Inc. (WAFD)vs › | $2.21B | 8.51 |
| Nuveen Quality Municipal Income Fund (NAD)vs › | $2.38B | N/A |
Trailing P/E
10.0
reported TTM EPS
Forward P/E
8.9
consensus EPS · fiscal year ending 2026-12-31
The gap between the two multiples is the consensus growth expectation: analysts' forward EPS of $5.57 implies +11.8% EPS growth vs the reported trailing $4.98.
At the dated quote price of $49.66, each upcoming fiscal year's consensus EPS implies a different multiple — how quickly the price is "paid down" by expected earnings if the estimates hold.
| Fiscal year end | Consensus EPS | Estimate range | Analysts | Implied P/E |
|---|---|---|---|---|
| 2026-12-31 | $5.57 | $5.53 – $5.63 | 2 | 8.9x |
| 2027-12-31 | $6.01 | $5.90 – $6.10 | 2 | 8.3x |
| 2028-12-31 | $6.91 | $6.80 – $7.04 | 1 | 7.2x |
Source: FMP analyst consensus estimates, refreshed with the daily precompute. "n/m" = the consensus EPS is not positive, so a multiple is undefined. There is no forward P/E history chart here because charting one would require the estimates as they stood in the past, which we do not store — see the trailing P/E history for how the realized multiple has moved.
PE Ratio = Share Price / Diluted EPS (TTM)
The price-to-earnings ratio measures how much investors pay for each dollar of trailing earnings. A lower PE can indicate a cheaper valuation; a higher PE implies higher growth expectations.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
