Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 21.15% is 41% below its 5-year average of 35.92%, near the low end of its 5-year range (13.81%–67.85%).
7.45% above its 12-month average of 19.68%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 18.40%.
OPERATING MARGIN
21.15%
OPERATING MARGIN AVG TTM
19.68%
OPERATING MARGIN AVG 3Y
24.96%
OPERATING MARGIN AVG 5Y
35.92%
OPERATING MARGIN AVG 10Y
44.37%
OPERATING MARGIN AVG 15Y
N/A
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
+7.45%
CURRENT VS 3Y AVG
-15.25%
CURRENT VS 5Y AVG
-41.11%
CURRENT VS 10Y AVG
-52.33%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · FINANCIAL SERVICES
16.07%
median of 693 covered companies
CURRENT VS SECTOR MEDIAN
+31.61%
vs the sector median at left
Merchants Bancorp
Market Cap
$2.53B
Operating Margin
21.15%
TTM Avg
19.68%
3Y Avg
24.96%
5Y Avg
35.92%
Market Cap
$2.50B
Operating Margin
18.95%
TTM Avg
23.33%
3Y Avg
27.11%
5Y Avg
30.37%
Market Cap
$2.49B
Operating Margin
11.80%
TTM Avg
4.17%
3Y Avg
13.40%
5Y Avg
19.64%
Market Cap
$2.49B
Operating Margin
16.52%
TTM Avg
20.51%
3Y Avg
24.97%
5Y Avg
27.51%
Market Cap
$2.49B
Operating Margin
26.56%
TTM Avg
22.52%
3Y Avg
28.71%
5Y Avg
30.71%
Market Cap
$2.58B
Operating Margin
7.27%
TTM Avg
5.84%
3Y Avg
1.24%
5Y Avg
-1.70%
Market Cap
$2.44B
Operating Margin
-135.44%
TTM Avg
-42.42%
3Y Avg
15.56%
5Y Avg
34.37%
Market Cap
$2.63B
Operating Margin
29.34%
TTM Avg
24.06%
3Y Avg
26.96%
5Y Avg
29.22%
Market Cap
$2.66B
Operating Margin
21.37%
TTM Avg
14.80%
3Y Avg
14.88%
5Y Avg
19.93%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Merchants Bancorp (MBINM) | $2.53B | 21.15% | 19.68% | 24.96% | 35.92% |
| First Merchants Corporation (FRME)vs › | $2.50B | 18.95% | 23.33% | 27.11% | 30.37% |
| Columbia Financial, Inc. (CLBK)vs › | $2.49B | 11.80% | 4.17% | 13.40% | 19.64% |
| First Busey Corporation (BUSE)vs › | $2.49B | 16.52% | 20.51% | 24.97% | 27.51% |
| First Bancorp (FBNC)vs › | $2.49B | 26.56% | 22.52% | 28.71% | 30.71% |
| The Baldwin Insurance Group, Inc. (BWIN)vs › | $2.58B | 7.27% | 5.84% | 1.24% | -1.70% |
| Oxford Lane Capital Corp. (OXLCM)vs › | $2.44B | -135.44% | -42.42% | 15.56% | 34.37% |
| NBT Bancorp Inc. (NBTB)vs › | $2.63B | 29.34% | 24.06% | 26.96% | 29.22% |
| Trustmark Corporation (TRMK)vs › | $2.66B | 21.37% | 14.80% | 14.88% | 19.93% |
| Merchants Bancorp (MBINN)vs › | $2.38B | 21.15% | 24.27% | 31.54% | 42.14% |
Operating Margin
21.1%
Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | OPERATING MARGIN |
|---|---|
| 2026-06-30 | 18.40% |
| 2026-03-31 | 26.59% |
| 2025-12-31 | 20.83% |
| 2025-09-30 | 18.80% |
| 2025-06-30 | 13.81% |
| 2025-03-31 | 24.67% |
| 2024-12-31 | 33.67% |
| 2024-09-30 | 22.94% |
| 2024-06-30 | 27.64% |
| 2024-03-31 | 32.28% |
| 2023-12-31 | 28.78% |
| 2023-09-30 | 32.12% |
| 2023-06-30 | 23.89% |
| 2023-03-31 | 32.62% |
| 2022-12-31 | 36.82% |
| 2022-09-30 | 47.75% |
| 2022-06-30 | 56.60% |
| 2022-03-31 | 61.10% |
| 2021-12-31 | 59.96% |
| 2021-09-30 | 67.85% |
| 2021-06-30 | 67.13% |
| 2021-03-31 | 69.57% |
| 2020-12-31 | 68.30% |
| 2020-09-30 | 66.64% |
| 2020-06-30 | 59.98% |
| 2020-03-31 | 41.64% |
| 2019-12-31 | 46.20% |
| 2019-09-30 | 38.58% |
| 2019-06-30 | 38.00% |
| 2019-03-31 | 33.28% |
| 2018-12-31 | 39.51% |
| 2018-09-30 | 46.28% |
| 2018-06-30 | 46.88% |
| 2018-03-31 | 50.12% |
| 2017-12-31 | 53.10% |
| 2017-09-30 | 51.34% |
| 2017-06-30 | 62.73% |
| 2017-03-31 | 56.23% |
| 2016-12-31 | 54.77% |
| 2016-09-30 | 63.35% |
| 2016-06-30 | 78.47% |
| 2016-03-31 | 71.92% |
